Mariela Chiriboga is selling an oceanfront Miami Beach home for $21 million

Andian Group’s Andres Isaias and saleswoman Mariela Chiriboga with an aerial view of 7737 Atlantic Way in Altos Del Mar (Getty, Andian Group, Google Maps)

Mariela Chiriboga has sold her beachfront home in Miami Beach for $20.5 million.

Records show Chiriboga sold the home at 7737 Atlantic Way in Altos Del Mar to a trust named for the address. Miami-based attorney Mark Bryn signed on behalf of the trust. The real buyer is unknown.

Julian Johnston of Corcoran represented Chiriboga in the sale. David Kreps of Sterling Equity Realty brought the buyer.

Chiriboga is a relative of Andres Isaias, the Ecuadorian-born founder of Miami-based specialty home developer Andian Group.

Chiriboga bought the roughly 7,000 square foot home for $9.6 million in 2015, records show. Built in 2012, the three-story home has six bedrooms and seven bathrooms. According to the listing, the home also includes an elevator, wine cellar, and private ocean access.

The property sits on 0.4 acres in Altos Del Mar, a gated beachfront neighborhood that sits south of North Beach Oceanside Park between 77th and 79th streets. This is the only area of ​​Miami Beach where the houses face the beach

Demand for waterfront properties in Miami Beach has skyrocketed in the years since Chiriboga purchased the home. Fueled by pandemic migration and limited inventory, waterfront property prices have surged.

Matthew Whitman Lazenby, owner of Bal Harbor Shops, sold his beachfront Altos Del Mar mansion for $21 million in June to an LLC with ties to the billionaire Metropoulos family. Lazenby bought the property for $18 million the previous year. Victor Ciardelli, CEO of Chicago-based Guaranteed Rate, bought an Altos Del Mar beachfront home and adjacent land for $37.5 million in May last year.

A Miami insurance executive sold his waterfront home for $16 million earlier this month, a record for the Normandy Island neighborhood.

Also this month, Ken Griffin sold one of his Star Island waterfront lots to baseball star-turned-investor A Rod for a discounted price of $18.5 million.

Lil Wayne also recently listed his waterfront home on Allison Island for $29.5 million, asking nearly $13 million more than the rapper’s 2018 purchase price.

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