A 30,000-square-foot waterfront empty lot in Miami Beach, where the drug lord Pablo Escobar’s former pink mansion once sat, changed hands for $10.995 million late last week, after lingering on the market for more than five years.
The property, owned by Christian de Berdouare, 63, founder of restaurant chain Chicken Kitchen, was first listed in 2015 for $21 million. He demolished the 6,500-square-foot pink mansion Escobar used as one of his hideouts in 2016, Mr. de Berdouare previously told Mansion Global.
The property took a few price reductions over the years and was lastly listed for $12.9 million in May. It went into contract in mid-October and closed for $10.995 million last Thursday, according to listing records on Zillow.
The buyer could not be identified as the transaction has yet to appear on property records online.
Mr. de Berdouare bought the property in 2014 for $9.65 million, property records show.
Listing agents, Albert Justo and Mirce Curkoski of ONE Sotheby’s International Realty, did not immediately respond to a request for comment.
Escobar, nicknamed “The King of Cocaine,” ran the Medellin drug cartel in his native Colombia until he was killed in Medellin in 1993, one day before his 44th birthday. His Miami Beach property was seized by the U.S. government in the 1980s.
The parcel has 150 feet of water frontage, and a new house up to 15,000 square feet can be built on it, per the local zoning code.
The Real Deal first reported the sale.