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Phil Collins Buys Miami Beach Mansion for $33 Million

The seven-bedroom house has about 200 feet of waterfront on Biscayne Bay The seven-bedroom house has about 200 feet of waterfront on Biscayne Bay Juan Fernando Ayora

A Florida mansion once owned by pop star Jennifer Lopez has sold for $33 million to another musician: rocker Phil Collins.

According to agents involved in the deal, Mr. Collins bought the gated Miami Beach home for $33 million in a sale that closed Monday. The seller was Mark Gainor, founder of the health-care and financial services company Lucor Holdings. Mr. Gainor was represented by Nelson Gonzalez of EWM Realty International, an affiliate of Christie’s International Real Estate. Mr. Collins was represented by Mathieu Rochette of Barclay’s Real Estate Group.

Mr. Collins also has a home in New York, but has two sons in Florida so he spends a lot of time in Miami, according to Mr. Rochette.

The seven-bedroom house has about 200 feet of waterfront on Biscayne Bay and a view of the Miami skyline, Mr. Gonzalez said. Mr. Gainor purchased the house from Ms. Lopez in 2005 for $13.9 million. He said he spent about three years gut-renovating it and lived there for about seven years, but decided to sell because he is moving to the West Coast.

The Mediterranean-style home, built in the late 1920s, measures about 12,100 square feet and sits on over an acre. In renovating the home, Mr. Gainor said he tried to keep "a lot of the same look and feel from its original state" in the exterior, but the interiors are European contemporary in style.

The renovation involved removing the roof and reconfiguring all of the rooms on the second floor, creating a massive master suite with a closet that measures about 1,000 square feet. The house has an elevator and an interior courtyard with a 6,000-gallon koi pond. There’s a 60-foot long swimming pool and spa tub, a coral stone deck, and a cabana with an outdoor kitchen. The property has a dock with room for several boats.

Mr. Gainor said the home likely appeals to celebrities because it’s "very private"—in renovating the property, he did extensive landscaping "so nobody could see us on either side."

Privacy was in fact one reason Mr. Collins was attracted to the property, Mr. Rochette said, along with the size of the lot and the views. "He was really looking for a big piece of land," Mr. Rochette said. Mr. Collins declined to comment.

Having more than an acre is considered a "very large lot for Miami Beach," Mr. Gonzalez said.

The home had been on an off the market for several years. It initially came on the market in 2010 for $29 million, but was most recently listed for $37.5 million. "We took our time selling it, looking for the right price and the right buyer," said Mr. Gainor.

He said he believes he’s found it in Mr. Collins, noting that he is a fan of his music. "He’ll enjoy it," Mr. Gainor said.

Mr. Gonzalez said he’s seen an uptick in recent activity at the very high end of the market in Miami. "Inventory is really drying up," he said, noting that he’s sold two other homes in the $30 million range in the past year: 12 Indian Creek sold for $28 million, and 17 Indian Creek for $30 million.

© wsj, by Candace Taylor

Last modified on Friday, 17 July 2015 17:15

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