A Miami Mansion That Cost $18.5 Million In 2021 Was Just Listed For $110 Million

In 2021, a private-equity investor named Jason Wright paid $18.5 million for a modern waterfront mansion on Miami Beach's Sunset Islands. Three years later, he bought the lot next door for another $14 million, razed the older home that stood there, and built a guesthouse. That's a combined $32.5 million in purchase costs.

Now the combined compound has hit the market for $110 million.

According to The Wall Street Journal, which first reported the listing, the Sunset Islands compound includes eight bedrooms between the main house and guesthouse, two docks, an 82-foot lap pool, and modern interiors finished with ipe wood, limestone, and concrete.

The main house was designed by architect Kobi Karp and built by developer Todd Michael Glaser, who completed it around 2020. Wright bought the property from Glaser and his partners the following year. The roughly 8,600-square-foot home includes six bedrooms, an office, an elevator, and a primary suite with two dressing rooms, a private terrace, and an outdoor shower overlooking the water.

If Jason gets $110 million, it would be a $77.5 million gain in under five years. Here is a video tour:

Who Is Jason Wright?

Jason Wright is a partner at Apax Partners, one of the world's major private-equity firms. According to his official Apax bio, he works on the firm's Tech team and oversees Apax Global Impact and Apax Vantage Software. He joined Apax in 2000 and is based in New York.

Before joining Apax, Wright worked at Accenture and GE Capital. He earned a bachelor's degree in economics from Tufts University and an MBA in finance from the Wharton School of the University of Pennsylvania.

Over the years, Wright has served on the boards of numerous software and technology companies, including RealPage, Paycor, Duck Creek, Verint, Epicor Software, Tivit, Planview, and IntraLinks. He currently serves as a director of Teciem, IBS Software, EcoOnline, Bonterra, and ECi Software Solutions. He is also a trustee of the Apax Foundation, chairman emeritus and current board member of the Opportunity Network, and serves on the Board of Advisors of the Hospital for Special Surgery.

In an interview with "Wharton Magazine," Wright described his career path as somewhat accidental. He began as a computer programmer at Accenture before realizing the job was not his "true calling." A rotation through GE's venture capital group eventually led him toward private equity, and a former GE colleague recruited him to Apax while Wright was attending Wharton.

In that same interview, Wright highlighted RealPage as one of his favorite deals, noting that Apax invested $30 million and eventually took out $300 million. He also pointed to TIVIT, Apax's first deal in Brazil, as a major learning experience.