Cruise Line honcho Howard Frank sells Gables Estates mansion for $20M

Longtime cruise line leader Howard Frank, who heads Costa Crociere, sold his Gables Estates mansion for $20 million.

Frank, and his wife Mary, sold their waterfront home at 500 Arvida Parkway in Coral Gables to 500AVD LLC, a Florida company managed by Marc Faust, according to records. Faust is a founding member of Katz Barron, a South Florida-based law firm. He is of counsel in the firm’s real estate group.

The Franks bought the nearly 1-acre property in 2010 for $10.5 million, records show. The same year, they began building the 13,418-square-foot mansion, finishing in 2012.

Frank is chairman of Costa Crociere, an Italian cruise line founded in 1854 that is a subsidiary of Carnival Corp. Frank was chairman of Carnival Cruise Line from 1998 to 2013, when he became a special adviser to the CEO and to Carnival Corp.’s chairman. He was announced as chairman of Costa Crociere in 2014.

Judy Zeder with Coldwell Banker Realty represented both sides of the deal, according to Realtor.com. The home was first listed in 2018 at $26.5 million, then later dropped to $21.9 in March.

The five-bedroom home has four bathrooms and four half-bathrooms, according to records. It also features two home offices, a walk-in wine cellar, a heated saltwater pool and a 180-foot dock with a boatlift.

The Gables Estates neighborhood has had plenty of pricey sales in recent months. The head of Columbus Capital Lending sold his waterfront Gables Estates home for $33 million, the former Miss Universe and ex-Venezuelan politician Irene Sáez sold her mansion for $20 million and a tech executive paid $6.2 million for a Gables Estates home.