A waterfront mansion on Coconut Grove's Battersea Road has changed hands for more than $80 million, with the seller identified as developer Philippe Harari. The sale price landed somewhere between $80 million and $100 million, according to sources including agents involved in the deal.
Harari, who owns AquaBlue Group, sold the roughly 11,000-square-foot home at 3575 Battersea Road, according to The Real Deal. The 2015-built house sits on 0.9 acres and includes eight bedrooms, eight bathrooms and one half-bath, per the outlet's reporting. County property records reviewed by PropertyShark show the site totals 18,653 square feet and is currently assessed at $11,859,907, with property taxes totaling $289,844.
The deal also included a quarter-acre lot next door, which Harari owned through a separate LLC, the report notes. Ahead of the sale, Harari transferred ownership of the main house to a Delaware LLC in March, while the adjacent vacant lot went to an entity called Hyacinth Holdings LLC, which he appears to control, per the same account. PropertyShark's records show the property was last sold on March 2, 2026 for just $10, consistent with an internal ownership transfer ahead of the eventual sale.
A Mortgage and a Manager Behind the Scenes
Harari controlled the Delaware LLC until July, when the entity secured a $40.1 million mortgage from J.P. Morgan Chase carrying an interest rate of 4.9 percent locked in until 2031, the article states. That LLC is managed by Michael Mustillo, who founded and serves as CEO of Select Family Office, a New York-based firm that represents high-net-worth families, according to the same reporting. Harari and Mustillo did not respond to requests for comment, the outlet said.
The Battersea Road sale is not the only recent move for Harari's real estate portfolio. AquaBlue put adjacent waterfront homes at 340 and 320 West Di Lido Drive in Miami Beach under contract, with a combined asking price of $67 million, though that listing is no longer active. The two homes have a combined 120 feet of waterfront, with each spanning 5,400 square feet and featuring six bedrooms, seven bathrooms and one half-bathroom, according to a separate Real Deal report on AquaBlue's Venetian Islands holdings. Harari's company also paid $14.5 million in 2022 for a half-acre Miami Beach lot at 205 North Hibiscus Drive that included a home built in 1956, per the outlet's earlier coverage.
Coconut Grove's Nine-Figure Neighbors
Harari's sale lands amid a run of blockbuster Coconut Grove transactions. Google co-founder Larry Page reportedly spent a combined $173.4 million on two estates in the enclave, according to Fortune. One of those properties, the Banyan Ridge Estate, spans more than 11,800 square feet on four acres but has no water frontage, per Realtor.com, which reported that deal at $101.5 million alongside a second nearby purchase of $71.9 million. Page also paid nearly $15 million for a nonwaterfront house next door to one of the estates, in a maneuver some have dubbed landmaxxing.
A company tied to billionaire Jorge Mas also sold a waterfront Coconut Grove property for more than $100 million, according to Yahoo Finance. That same report notes hedge fund manager Ken Griffin paid nearly $107 million in 2022 for the waterfront four-acre estate that once belonged to Adrienne Arsht. Brokers cited by Fortune describe the flurry of activity as part of a broader surge of high-net-worth Californians scouting Coconut Grove and other South Florida neighborhoods for privacy, waterfront access and potential tax advantages.
Why Buyers Keep Circling the Grove
A local luxury-property agent told Realtor.com that Coconut Grove's walkability, and residents' ability to stroll freely around the ultraexclusive community, has fueled a surge in property popularity. Waterfront-home inventory in the neighborhood remains scarce, a dynamic that has helped push prices into nine figures for the right lot.
The broader Miami-Dade luxury market has kept pace. Buyers signed 26 contracts for homes and condos asking $4 million or more between May 18 and May 24, representing $333.5 million in combined asking dollar volume, according to The Real Deal's market tracking. Twenty-seven new luxury listings hit the market during that stretch, pushing the total to 1,213 active listings across the county.
