investigation
Spec Developer Alex Pirez’s 1 Acre Site
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The scion of a circle of relatives known for their Latin culinary fortunes sold an oceanfront lot in Coral Gables’ Gables Estates for $18. 5 million.
Records show Francisco R. Unanue sold the 1-acre assets at 1 Leucadendra Drive to Mocca Construction 1 Leucadendra LLC, a Florida entity controlled through developer Alex Pirez.
Vincent Pinto of Related ISG Realty owned and Pirez represented himself in the transaction.
Unanue is a member of the Unanue family that founded and runs Goya Foods, the food giant founded in Secaucus, New Jersey. In 2014, Forbes estimated the family’s net worth at $1. 1 billion. In 2019, the company’s board of directors sold the company for $3 billion, although the deal was subsidized, according to published reports.
Unanue bought the Leucadendra Drive assets for $4. 3 million in 2001, according to real estate records. It spans more than an acre and 400 feet of shoreline, according to the announcement. It first indexed it for $45 million in 2021 and reduced the initial value. to $25 million in 2022, Zillow shows.
Pirez runs specification development company Mocca Group. In January, he sold a special mansion in Hammock Lakes for $21 million.
Gables Estates has been a hub for luxury real estate transactions in recent months. Last month, the CEO of a lending company and his wife, an attractive mogul, sold the heir’s community mansion for $27. 5 million. In June, Magnetics heir Geert-Jan Bakker downsized a waterfront mansion in Gables Estates for $23. 5 million after listing his property in Indian Creek Village for $64. 5 million. Property Control CEO Paul Kaplan purchased an oceanfront home in Gables Estates for $14. 8 million in the same month.
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