With reference to the article produced at PR Newswire: http://www.prnewswire.com/news-releases/developer-michael-capponi-and-capponi-construction-group-break-record-sale-on-miami-beach-with-the-ds-team-133159068.html
Capponi is regarded as one of Miami’s most renowned businessmen, notably due to his vast experience and investments in the real estate industry. Aside from that, he has recently added another achievement to his portfolio by making a sale on Sunset Island. The sum that was paid for was regarded as the highest ever for real estate on the island since the year 2007. He acquired it for $2.3 Million in February 2005 and reconstructed it in 2007. The investment eventually translated into seven bathrooms, five bedrooms and more than 6,000 square feet of interior space, all resting on an estimated 8,700 square feet.
The villa was listed for $5.150 Million by Sladja Stantic and Dina Goldentayer, both of the DS team that oversaw the deal fall through in a span of 10 days. The villa’s design is influenced by Italian style architecture, with marble casing its exterior. Michael Capponi‘s construction group has embarked on residential projects, including a 2.5-acre prestigious estate that is set to accommodate houses each taking up 25,000 sq ft. On North Bay, his company is underway in restoring one of the most glorious homes situated on the Pine-tree drive. The icing on the cake is the more alluring commercial ventures like a hotel spanning 500,000 sq ft and an upcoming trendy restaurant in South Beach called Azure.
The construction company is chaired by CEO and President Kenneth J. Gross and has been involved in about $2.5 billion worth of real estate construction. Mr. Capponi has indulged in charitable projects as well through his Capponi Group such as constructing a homeless shelter and a resort in Haiti to aid in growing the tourism industry to better the economy.