The Grammy winner, who bought the home for $19 million just two years ago, hopes to turn a tidy profit on his investment. The home is back on the market for $27 million.
The performer, whose given name is Marco Antonio Muñiz, purchased the waterfront property from Bacardi heiress Hilda Maria Bacardi in 2018. She spent eight years overseeing its construction. Bacardi initially wanted $18 million in 2014, while the home, called Villa Costanera, was still under construction.
She listed the finished product for $27,260,000 in 2016, then reduced it to $25 million the following year. She finally let it go for a relative song at $19 million.
Located on the exclusive Islands of Cocoplum, the property features a circular motor drive. The back of the property overlooks gardens and the Coral Gables waterway. Designed by Rafael Portoundo, the home’s interiors are filled with arched windows and doorways, built-in seating, and coffered ceilings. The design of the home allows natural light to pour into every room.
According to the listing, the “Amalfi-coast inspired masterpiece” features 17,000 square feet of living space on a 1.3-acre corner lot. It includes 480 feet of water frontage with a dock and ocean access.
The luxury residence has 12 bedrooms, 13 baths, and two powder rooms. Along with a formal living room and dining room, the layout includes a family room and an eat-in kitchen with dual islands and a butler’s pantry. An expansive master suite includes a sitting area and two baths.
Luxe details include a commercial elevator, wine cellar, gym, and staff quarters.
The outdoor entertainment area includes a summer kitchen, covered terraces, a heated pool, and a spa.
The median list price in Coral Gables sits at a robust $924,800 and homes spend an average of 86 days on the market, according to realtor.com®.
The two-time Grammy winner and six-time Latin Grammy winner has sold over 12 million albums worldwide. He dropped his latest album, “Opus,” in 2019.
Anamaria Velasquez with Nexxos Realty and John Parsiani of Cervera Real Estate hold the listing.
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