Sheik Tarek Al Fassi, who’s part of the Saudi royal family, recently [COLOR=#058b7b]sold his 10,271-square-foot Miami Beach mansion for $8.5 million. The buyer is Los Angeles developer Richard Meruelo.[/COLOR]
The Mediterranean home, which was built in 1929, is on 2.7 acres of land that also boasts a sports field, swimming pool, gym as well as basketball and tennis courts.
The seller, Kenny Raymond, said it was the highest price paid for a home on Pinetree Drive. The home has 9 bedrooms, 8 baths and 180 feet of waterfront.