Finance executive Andre Hakkak and beauty entrepreneur Marissa Shipman have made headlines by selling their luxurious Gables Estates mansion for $28 million.
The couple bought the property four years ago for $14 million, doubling their investment with this record-breaking sale.
Let’s dive into the details of this stunning real estate deal and the booming South Florida luxury market.
The $28 Million Mansion Sale
Hakkak, the CEO and co-founder of White Oak Global Advisors, and Shipman, the founder of theBalm Cosmetics, sold their sprawling 12,300-square-foot mansion located in the exclusive Gables Estates neighborhood.
They had originally purchased the non-waterfront estate for $13.6 million in 2020, which means they nearly doubled their investment when they sold it earlier this year for $27.5 million.
This sale marks one of the most significant transactions in the South Florida real estate market. Notably, it came just weeks before Hakkak made another purchase breaking records again with the priciest residential sale ever in Pinecrest.
The Record-Breaking Pinecrest Purchase
After selling their Gables Estates mansion, Hakkak and Shipman purchased a spec mansion in Pinecrest for $14.3 million. This new home, located at 8900 Southwest 64th Court, spans over 1.2 acres and 10,500 square feet.
The estate boasts seven bedrooms, 11 bathrooms, a pool, gym, theater, guest house, and more.
The home was designed by Miami-based architect Cesar Molina and developed by Francisco Dionicio of Dionicio Investment Group.
It now holds the record as the most expensive residential sale in Pinecrest, surpassing billionaire Jorge Mas’ sale earlier this year for $13.9 million.
MUST READ: Andre Hakkak Wife: Marissa Shipman – The Entrepreneur Behind theBalm Cosmetics
South Florida’s Luxury Real Estate Boom
South Florida, especially areas like Coral Gables and Pinecrest, has seen an unprecedented surge in luxury real estate sales.
Prices have skyrocketed in recent years as affluent buyers flock to the area, seeking expansive estates and private mansions.
Some recent high-profile sales include:
- Dion Waiters: The NBA star sold his Pinecrest mansion for $11.1 million in March.
- Anne Mahlum: The founder of [solidcore] purchased a spec mansion for $11.3 million, breaking a previous record for the area.
Table: Recent Pinecrest and Gables Estates Sales
| Buyer | Location | Price | Year of Sale |
|---|---|---|---|
| Andre Hakkak | Pinecrest | $14.3M | 2024 |
| Dion Waiters | Pinecrest | $11.1M | 2024 |
| Jorge Mas | Pinecrest | $13.9M | 2024 |
| Anne Mahlum | Pinecrest | $11.3M | 2023 |
| Hakkak & Shipman | Gables Estates | $27.5M | 2024 |
H3: What’s Next for the Couple?
As Hakkak and Shipman settle into their new Pinecrest mansion, many wonder if this couple’s eye for real estate will lead to even more record-breaking purchases in the future. Their savvy investment in luxury homes has proven to be a significant financial success
