Phil Collins’ Miami Beach house sold to billionaire businessman and wife for $39.25M
Phil Collins may be singing You’ll Be in My Heart after selling his Miami Beach house for $39.25 million to billionaire transplants.
Orlando Bravo, co-founder and managing partner of the Chicago-headquartered private equity firm Thoma Bravo, and his wife Katy Bravo bought the Miami Beach house on Thursday, according to sources. Thoma Bravo got its start by investing in start-up software companies. The couple has three children and wanted to be close to relatives in South Florida and to their philanthropy work in Puerto Rico, according to sources.
Collins, the English vocalist and eight-time Grammy award winner, owned the residence at 5800 North Bay Road for six years. The 2-story bayfront house has six bedrooms, eight bathrooms, one half bathroom, a pool, koi pond and a dock. Built in 1929, the house sits on 1.21 acres and has views of Biscayne Bay and the Downtown Miami skyline.
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As philanthropists, Orlando and Katy Bravo founded and manage their Bravo Family Foundation, a nonprofit in Orlando’s native San Juan that partners with business leaders, nonprofits and universities to nurture young entrepreneurs. In 2019 they committed $100 million to the Foundation’s Rising Entrepreneurs Program. The foundation also provided aid to Puerto Rico after Hurricane Maria in 2017.
Orlando and Katy Bravo own homes in Puerto Rico, New York, California and nearby Palm Beach.
Coldwell Banker Realty’s The Jills Zeder Group Broker-Associates Jill Hertzberg and Jill Eber listed the property; Realtor-Associate Judy Zeder represented the buyer.
Collins bought the house from healthcare entrepreneur Mark Gainor and Gainor’s wife Elyse for $33 million in 2015. The Gainors bought the house from J.Lo for $13.9 million in 2005.
The house sold for about 2% below the $40 million asking price for $742 per square foot — about 15% less than the most recent comparable sale. Shutterstock founder Jonathan Oringer bought his 2-story house at 4358 N. Bay Road for $44 million, or $872 per square foot, in October 2020.
Collins asked his ex-wife Orianne Cevey to vacate the house in October. Cevey, who married a guitar player over the summer, left with her new husband in January to a recently purchased house in Fort Lauderdale.
This story was originally published January 28, 2021 at 11:00 AM.
