Andian Group, led by Alejandro Diaz-Bazan and Andres Isaias, bought a waterfront Miami Beach estate for $19 million in an off-market deal, The Real Deal has learned.

The spec home developers purchased the 12,394-square-foot mansion on a 1-acre double lot at 6385 Pinetree Drive Circle from 6385 PTDC LLC, according to Diaz-Bazan. The selling entity is managed by Gavin Werbeloff.

Property records show the selling entity, 6385 PTDC LLC, bought the estate in 2016 for $19 million. The house was listed for $22.5 million in 2018, according to Realtor.com.

Howard Marcus with Douglas Elliman represented the seller, and Diaz-Bazan of Coldwell Banker’s The Jills Zeder Team represented the buyers.

The home has nine bedrooms, 11 full bathrooms and two half-bathrooms. According to Diaz-Bazan, the house has been remodeled and expanded since it was built in 1937. It includes a 22,000-gallon pool, a spa, koi pond, gym, wine cellar, library and a safe room. The property also features a two-bedroom guest house, two guest apartments and 175 feet of direct water frontage with a 100-foot dock, Diaz-Bazan said.

Andian Group has built spec homes in Miami Beach in the past, and sold a waterfront mansion on North Bay Road in February for $23.7 million.

Isaias said that he was not sure what the plans will be for the Pine Tree Drive Circle mansion other than renovating it, but did not provide specific alterations.

Most recently in Miami Beach, a Turkish businessman sold a waterfront home on the Venetian Islands for $6.3 million, and developer Eddie Irvine bought a waterfront property for $10.5 million.