Exploring the Architectural Marvels of Andre Hakkak’s House

Andre Hakkak, co-founder and CEO of White Oak Global Advisors, and his wife, Marissa Shipman, founder and CEO of theBalm Cosmetics, have made significant impressions in both the financial and real estate sectors. In this blog post, we explain the Andre Hakkak Hose worth, location and all you need to know. Their keen eye for luxury properties is evident in their acquisition and sale of two remarkable residences in Florida: a Coral Gables mansion and a Pinecrest estate.
The Coral Gables Mansion
In November 2020, Hakkak and Shipman purchased a stunning mansion located at 8950 Arvida Drive in the exclusive Gables Estates neighborhood of Coral Gables, Florida. The property, built in 2016, spans approximately 12,300 square feet and is situated on a nearly two-acre lot. Designed by architect Cesar Molina, the two-story residence boasts six bedrooms, nine full bathrooms, and two half-bathrooms. Additional features include a six-car garage, an elevator, a pool, and a separate structure suitable for a gym or spa.
The couple acquired this luxurious home for $13.6 million, a notable investment in one of Coral Gables’ most prestigious communities. Gables Estates is renowned for its opulent residences and exclusivity, attracting affluent individuals seeking privacy and luxury.
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Sale of the Coral Gables Property
In July 2024, Hakkak and Shipman sold their Coral Gables mansion for $27.5 million, effectively doubling their investment in less than four years. The off-market transaction underscores the desirability and escalating value of properties within Gables Estates. The substantial appreciation in the property’s value reflects the dynamic and lucrative nature of the luxury real estate market in South Florida.
Acquisition of the Pinecrest Estate
Following the sale of their Coral Gables residence, Hakkak and Shipman acquired a new estate in Pinecrest, Florida. In July 2024, they purchased a spec mansion located at 8900 Southwest 64th Court for a record-breaking $14.3 million, marking the highest residential sale in Pinecrest to date. The property, developed by Francisco Dionicio’s Dionicio Investment Group, features a 10,500-square-foot residence on a 1.2-acre lot. The home includes seven bedrooms, eleven bathrooms, two half-bathrooms, a pool, gym, theater, and a guest house. The architectural design by Cesar Molina of CMA Design Studios emphasizes modern luxury and comfort.
Architectural Significance
Both residences showcase the architectural prowess of Cesar Molina, a renowned architect known for creating luxurious and functional spaces that harmonize with their surroundings. Molina’s designs often feature expansive layouts, high ceilings, and seamless indoor-outdoor transitions, catering to the sophisticated tastes of high-net-worth individuals. The inclusion of amenities such as pools, gyms, theaters, and guest houses reflects a comprehensive approach to luxury living, providing residents with resort-like experiences within the comfort of their homes.
Market Trends and Strategic Investments
The real estate transactions involving Hakkak and Shipman highlight a broader trend of affluent individuals relocating from high-tax states like California to more tax-friendly states such as Florida. This migration is often motivated by the desire for favorable tax conditions, a lower cost of living, and access to luxurious properties in exclusive communities. The significant appreciation in the value of their Coral Gables property demonstrates the potential for lucrative returns in the South Florida luxury real estate market.
Conclusion
Andre Hakkak and Marissa Shipman’s real estate ventures exemplify strategic investment and an appreciation for architectural excellence. Their selection of properties designed by esteemed architect Cesar Molina underscores a commitment to quality and luxury. These residences not only serve as personal sanctuaries but also as testaments to the dynamic and profitable nature of the high-end real estate market in South Florida.