JP Morgan managing director buys mansion near Coral Gables

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Chad Carroll, Matthew Dugow and Liz Hogan with 8750 Ponce de Leon Road (Credit: Douglas Elliman)

Chad Carroll, Matthew Dugow and Liz Hogan with 8750 Ponce de Leon Road (Credit: Douglas Elliman)

A managing director at J.P. Morgan in New York paid $6.85 million for a mansion near Coral Gables.

Property records show 8750 Ponce LLC, led by Dennis Day, sold the 10,050-square-foot house at 8750 Ponce de Leon Road in Miami to David R. Reiser and Andrea R. Reiser. David Reiser is managing director and a financial adviser with J.P. Morgan Securities, as well as an author of financial planning books.

Chad Carroll and Matthew Dugow of Douglas Elliman listed the property, and Liz Hogan of Compass brought the buyer.

The seven-bedroom estate was built in 2014 and was designed by Kobi Karp. It includes a guest house, theater, indoor gym, squash court, basketball court, heated pool, and three-car garage, according to the listing. It also has smart home features, Lutron lighting, a Mia Cucina kitchen, a generator and a Creston home automation system.

Hogan said the couple is relocating to Florida for tax reasons, as well as for David Reiser to focus on the local market for J.P. Morgan. The sale closed before businesses began shutting down due to coronavirus.

The home hit the market in 2017 for $8.9 million, and was listed again in October of last year for just under $8 million. It sits on a 1.4-acre property that last sold in 2010 for $1.55 million.

The Reisers also own an estate in Narragansett, Rhode Island, that they are looking to sell with Compass agent Jeannemarie Conley.

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