N.J. Nicholas Jr., formerly the co-CEO of Time Warner and still a director of the company, purchased a mansion in Miami’s Coconut Grove neighborhood for $12.85 million.

A&DS Property Holdings, Amy Solomon Scharlin and attorney David Michael Scharlin, sold the home at 3310 Devon Court to Nicholas. It’s a short distance from Biscayne Bay.

Source: www.bizjournals.com