Veteran banking executive Mark Rufeh sold a waterfront home in Key Biscayne for $11.1 million, or $4,334 per square foot.
The 2,561-square-foot home at 398 Harbor Drive was sold to 398 Harbor Corp., a Delaware-registered company, so it’s not clear who owns it, but Feldman Law in Kendall represents it. The seller was Sunset Bay Realty, managed by Rufeh out of Holmdel.
The property last traded for $8.45 million.
The home was built on the 20,933-square-foot lot along Biscayne Bay in 1952. Given that is has only three bedrooms and three bathrooms with no pool, the home is a potential teardown candidate in order to build a larger home.
Key Biscayne is one of the most expensive ZIP codes in Florida because the island is land-constrained and in a prime location.
Rufe was previously managing director and co-head of global operations and technology at Citigroup and chief administrative office for investment banking at Credit Suisse Group.