Real estate tycoon Grant Cardone is divesting from his lavish $42 million beachfront mansion, turning his investment focus towards more stable and lucrative assets.
Despite his public advice against buying homes — citing them as a potential financial drain unless one has money to spare — Cardone previously bought a sprawling estate from fashion mogul Tommy Hilfiger in 2021 for $28 million.
This property, located at 605 Ocean Boulevard in South Florida, is now on the market.
Cardone explained his rationale for selling on the social platform X: “Why am I selling 605 Ocean Blvd?
I prefer owning BTC or additional multifamily units over being tied to a single property location. We bought this house to enhance its value for the next owner.”
The mansion boasts an array of luxury amenities across its 13,000 square feet. It includes seven bedrooms, eight bathrooms, an infinity pool, and 100 feet of private beach access.
The kitchen is fitted with high-end Subzero and Gaggenau appliances. Significant upgrades have been made under Cardone’s ownership, particularly to the outdoor living space, which has been expanded to roughly 5,000 square feet.
This area now features seating for 36 people, a new pool, a cabana, a bar, a beach house, and a large deck designed for hosting large gatherings.
The property also offers an exotic private beach lined with mature coconut trees, providing yearly shade.
Additionally, Cardone has enhanced the property with new doors and windows to maximize the ocean views, added an art gallery at the entrance, and expanded the garage and parking capacity to accommodate six and 12 vehicles, respectively.
As for the future of the proceeds from the sale, Cardone is clear about his intentions: “I thought this would be the perfect time to take the proceeds to invest in BTC or buy some more multifamily properties,” he noted.
Cardone, who has held Bitcoin since 2018 — acquired through a speaking engagement — sees the cryptocurrency and multifamily real estate as critical components of his investment strategy.
Due to their continual demand and ability to generate steady cash flow, he emphasizes that multifamily properties offer significant stability and resilience, especially in economic downturns.
Grant Cardone is shifting his investment strategy from a singular, high-value property to broader, potentially more profitable ventures in cryptocurrency and multifamily real estate, seeking to optimize stability and cash flow.