In the ever-dynamic world of luxury real estate, few have mastered the art of making strategic moves like Andre Hakkak and his wife, Marissa Shipman. Known for their impressive business acumen, the couple recently made headlines by doubling their investment on a luxurious mansion in Coral Gables, Florida. This story is not just about selling a home; it’s a reflection of the keen understanding they possess about the luxury property market and their ability to capitalize on opportunities even amidst unpredictable economic conditions.
Summary
| Detail | Description |
|---|---|
| Name | Andre Hakkak and Marissa Shipman |
| Profession | CEO of White Oak Global Advisors (Andre) |
| Founder & CEO of theBalm Cosmetics (Marissa) | |
| Property Sold | Gables Estates Mansion |
| Purchase Price | $13.6 million (2020) |
| Selling Price | $27.5 million |
| New Property | Pinecrest Mansion |
| Purchase Price (New Property) | $14.3 million |
| Architect (New Property) | Cesar Molina of CMA Design Studios |
| Location | Pinecrest, Florida |
| Key Features (New Property) | 10,500 sq ft, 7 bedrooms, 11 bathrooms, gym, theater, guest house, pool |
Who Are Andre Hakkak and Marissa Shipman?
Andre Hakkak is not your everyday real estate player. As the CEO of White Oak Global Advisors, a lending firm that supports small and medium-sized businesses with much-needed financial resources, he is deeply entrenched in the financial sector. Meanwhile, his wife, Marissa Shipman, brings her own entrepreneurial flair as the founder and CEO of theBalm Cosmetics, a Nevada-based cruelty-free makeup brand. Together, they form a power couple whose business savvy extends well beyond their respective industries.
The Coral Gables Estate: A Profitable Venture
In 2020, Andre Hakkak and Marissa Shipman purchased an expansive mansion in the prestigious Gables Estates neighborhood for $13.6 million. This property was far from ordinary — it boasted over 12,300 square feet of living space, six spacious bedrooms, nine bathrooms, two additional half baths, a six-car garage, and a beautiful pool. The mansion’s grandeur and size made it an ideal property for those looking for luxury and privacy.
Fast forward a few years, and the couple managed to sell the same property for an astonishing $27.5 million, effectively doubling their investment. This sale came as a surprise to some, considering the current economic climate with rising interest rates and inflation. However, the high-end real estate market in Coral Gables seemed to defy the odds, proving that luxury properties still hold their allure.
Why the Move to Pinecrest?
After selling their Gables Estates mansion, Andre and Marissa made another significant investment by purchasing a spectacular new home in Pinecrest for $14.3 million. This new residence, acquired by Andre’s Allh Separate Property Trust, is not just any home; it holds the title for the most expensive residential sale in Pinecrest, surpassing the previous record set by billionaire Jorge Mas.
The Pinecrest mansion offers approximately 10,500 square feet of living space, with seven bedrooms, eleven bathrooms, two additional half baths, a gym, a theater, and even a guest house. Set on a vast 1.2-acre lot, the property provides ample space for both luxury and leisure, making it a significant upgrade from their previous home. Designed by Cesar Molina of CMA Design Studios, the mansion showcases modern architecture with exquisite detailing, appealing to buyers with a taste for contemporary elegance.
Understanding the Decision to Move
So, why did Andre Hakkak and Marissa Shipman decide to leave their lavish Gables Estates mansion for a new home in Pinecrest? The answer likely lies in their desire for a more updated and expansive living space that offers additional amenities. Pinecrest, located just south of Coral Gables, has become a favored destination among affluent buyers due to its excellent schools, beautiful parks, and growing status as a luxury real estate hotspot.
The couple’s decision to move may have been influenced by the allure of Pinecrest’s thriving real estate market, which offers a combination of exclusivity, luxury, and space. The acquisition of a record-breaking property in a rapidly appreciating market like Pinecrest reflects their keen understanding of real estate dynamics and their readiness to seize new opportunities.
Impact on the Luxury Market
Andre and Marissa’s strategic moves have drawn attention not only from real estate enthusiasts but also from the broader business community. Their success in navigating the luxury real estate market during challenging economic times demonstrates a high level of foresight and confidence. It also underscores the continued demand for premium properties in Miami’s upscale neighborhoods, reinforcing the area’s reputation as a resilient and attractive market for high-net-worth individuals.
Conclusion
Andre Hakkak and Marissa Shipman’s journey in the luxury real estate market is a testament to their strategic thinking and market awareness. By selling their Coral Gables mansion for a substantial profit and investing in a new property in Pinecrest, they have demonstrated a clear understanding of the evolving dynamics of luxury real estate. Their decisions not only reflect a smart financial move but also highlight the continued strength of Miami’s upscale property market, even amidst uncertain economic conditions.