Ari Rubenstein, founder of the financial services firm GTS, has purchased a waterfront home on Palm Island in Miami Beach for $15 million. Property records indicate that Rubenstein and his wife, Zaily Rubenstein, acquired the residence at 112 Palm Avenue from PL Holdings, a Puerto Rican company managed by shipping executive George Burguillos.
The transaction was completed off-market and financed with an $8.3 million mortgage from City National Bank of Florida.
Rubenstein established GTS in New York City in 2006 and is also the founder of ClearList, a platform designed as an alternative to traditional stock exchanges for private companies. His first wife is Atoosa Rubenstein, former editor-in-chief of Seventeen magazine.
Burguillos previously purchased the property for $8.6 million in 2015. The house spans 5,200 square feet on a 0.7-acre waterfront lot and features seven bedrooms, six bathrooms, three half-bathrooms, and a pool.
Palm Island continues to attract high-end buyers looking for luxury waterfront homes in Miami Beach’s competitive market. In March this year, Richard Skelhorn—founder of blockchain-based digital casino MetaWin—set a new island record by buying a mansion at 40 Palm Avenue for $45 million. Skelhorn shared about the purchase on social media: “It was 1 a.m. in Dubai, had a few beers when I made the offer.”
Other notable sales include boxing champion Floyd Mayweather Jr., who sold his Palm Island mansion for $22 million last year as part of his real estate investment activities. On neighboring Hibiscus Island, Wade Davis, former CEO of Univision, sold his waterfront home for $31.8 million in July.
