Real estate records show that Bastian recently closed on selling the property to an anonymous buyer. The purchasing entity of the estate is a trust named for the property’s address.<\/p>\n
While it’s unclear how much Bastian put into the demolition and build, if his budget was less than $20 million, he presumably made a profit. Bastian never listed the property on the public market, as the transaction was handled privately.<\/p>\n
Following Bastian’s completion of the property redo, local property tax assessors greatly increased the value of the estate from about $1.8 million to more than $6.2 million.<\/p>\n
\n
Bastian’s tax bill for the Venetian Islands abode was $33,479 in 2019. But at the current valuation, the homeowner’s annual tax liability is $121,855 — a 264% increase.<\/p>\n<\/div>\n
Last year, Bahamas Prime Minister Philip Davis appointed Bastian as a nonresident ambassador to the Central American Integration System (CAIS) on behalf of the Commonwealth of The Bahamas. CAIS is the preeminent economic and political organization of Central American states since its founding in the early 1990s.<\/p>\n
In the role, Bastian is to “use his business acumen and skills in outreach for the mutual benefit of our countries and people,” Davis said during the March 2022 announcement.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bahamian gaming magnate Sebastian Bastian has flipped his waterfront estate on the prestigious Venetian Islands in Miami Beach, Fl. Bastian, a Bahamas native, began his business career in the 1990s selling Dish Satellite subscriptions to customers in the island country. He later become the largest distributor of prepaid phone cards in the Bahamas. But Bastian […]<\/p>\n","protected":false},"author":25,"featured_media":253456,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,3313],"tags":[84513,13700,83001,84512],"acf":[],"yoast_head":"\n
Bahamian Gaming Tycoon Sells Miami Venetian Islands Estate for $28.3M<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n