Matt Damon Sells Miami Beach House for Tidy Profit

ZillowMatt Damon purchased this seven-bedroom home for $ 14.5 million in 2005 and has sold it for $ 15.375 million.

Matt Damon has sold his Miami Beach house on North Bay Road, just up the street from Shakira’s recent whisper listing overlooking Biscayne Bay.

Damon reaped a tidy profit on the seven-bedroom, 10-bath house he paid $ 14.5 million for in 2005, selling it for $ 15.375 million, says the South Florida Business Journal. The buyer reportedly is AmeriSave Mortgage chief executive Patrick Markert.

Markert was in the news in August when the Consumer Financial Protection Bureau personally fined him $ 1.5 million for allegedly engaging in deceptive bait-and-switch mortgage-lending schemes through his companies AmeriSave and Novo Appraisal Management Company. Engaging in a little bit of snark, the Journal said that Markert did not use a mortgage to purchase Damon’s house.

Although the house was originally listed for $ 20 million, you can’t sneeze at an $ 875,000 profit for a property Damon bought near the top of the real estate market. The Journal says that most people who bought in South Florida then still haven’t broken even. Of course, North Bay Road is one of Miami Beach’s swankiest locations, current or former home to Cher, Billy Joel and Jennifer Lopez.

Damon’s estate features:

  • main residence with hardwood flooring.
  • theater room.
  • wine cellar.
  • guesthouse.
  • pool and spa.
  • 170 feet of water frontage and a dock on Biscayne Bay.

AOL Real Estate – Blog

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