Chilean Casino Operator Claudio Fischer Sells Miami Beach Mansion for $40MM

Chilean developer and casino magnate Claudio Fischer has set a new record with the $40 million sale of his waterfront spec mansion in Miami Beach, the highest home sale on Palm and Hibiscus Islands. Liz Hogan of Compass listed the property, and Matthew Dugow of the Chad Carroll Group represented the buyer.

The luxurious eight-bedroom, nine-bathroom mansion was initially listed at $48.5 million in November. Hogan noted significant initial interest, with over two dozen potential buyers according to The Real Deal.

Looking back to when he originally purchased the mansion, Fischer acquired the 0.7-acre lot on Palm Island for $5.4 million in 2012. The estate includes a primary suite with a private patio and pool, a rooftop terrace, a home theater, a gym, and even a private dock.

This transaction surpasses the previous record set by developer William Campbell, who sold a mansion at 158 Palm Avenue for $32 million to hedge funder Ron Ozer last year. Additionally, two homeowners recently listed three waterfront homes on Palm Island for $150 million. Meanwhile, in Miami Beach, Ideavillage CEO Anand Khubani is seeking the purchase of a waterfront home for around $100 million.

Fischer, co-founder of Sun Dreams—the largest casino resort operator in Latin America with 19 casinos in his repertoire—invested approximately $25 million in the recently-sold home’s construction.