Miami Heat’s Very Own Jimmy Butler Sold his Pinecrest Mansion for $7.1 Million

Jimmy Butler, Small Forward for the Miami Heat just sold his Pinecrest Mansion for $7.1 million. Butler who just purchased this home just 2 years ago really took advantage of the Miami market because he originally purchased the estate for $4.6 million in 2018. The home was built in 2013.

Records show that the managing partner, Reshma Sohoni, for London-based venture capital firm called Seedcamp purchased the home. Sohoni co-founded Seedcamp in 2007 with the idea to assist in investments for European tech start-ups.

The home located at 8975 Southwest 63rd Court in the Stritter Estates subdivision of Pinecrest features 7 bedrooms, 8 bathrooms and a 3 car garage. The custom Mediterain home with 8,958 square feet of living space showcases a grand foyer that opens to the living and dining rooms with double height ceilings.

The large game room is perfect for entertaining with a custom wet-bar and dedicant kitchen. The custom cabinetry, wine gallery, and butler’s pantry makes this home truly unique. The master offers a private terrace and spa bath. The backyard is the ultimate in luxury with covered terraces, playground, spa, and resort style pool.

For the next four years, Butler will still be a Miami resident with his recently signed 4 year contract extension with the Heat for an additional $184 million.

Butler isn’t the first Heat player to sell its Miami mansion. Dwayne Wade and wife Gabrielle Union sold their Miami mansion for $22 million after 2 years on the market.

Let’s also not forget that Pinecrest was ranked #2 in the top places to live in Miami!

Former Mansion of American Gangster Al Capone is Facing Demolition

Al Capone was born in 1899 in Brooklyn, New York to Italian immigrant parents. He was one of eight children while his mother was a seamstress and his father was a barber. He had a regular childhood and nothing notable could predict his claim to American fame.

Capone later became the most infamous gangster in American history. In the ’20s, Capone began his Chicago operations of bootlegging, gambling, and organized crime which became a multi-million dollar business. At the time of the St. Valentine’s Day Massacre on February 14, 1929, he retreated to his Miami waterfront mansion to hide out from authorities.

After being released from prison after a six-and-a-half-year stint, Al Capone spent his last years living in Miami on Palm Island at 93 Palm Avenue. The waterfront mansion was originally built in 1922 and Capone and his wife purchased the home in 1928 for $40,000, just 3 years before he was sentenced to prison. The title shows that the home was purchased under Capone’s wife’s name.

The home has had many owners, as well as, extensive remodels over the years. The 0.6-acre lot features a colonial-style home with four bedrooms and 3.5 bathrooms. The more unique and original features of the home are still there including a black and gold Art Deco powder room, 1920’s ceilings lights as well as the fireplace located in the living room. The home also showcases french doors, hardwood floors, and double-hung windows.

The outside features 100 feet of Biscayne Bay water frontage with a 30×60 foot pool next to a 2-story cabana that is water-facing. At the front of the property sits a guesthouse with 2 bedrooms and 1 bathroom.

The home is currently owned by business partners including developer Todd Glaser who purchased the home this summer for $10.75 million. The plan is to demolish the home and build a modern-style spec home with 8 bedrooms, 8 bathrooms, spa, jacuzzi, and sauna.

Glaser and business partner Nelson Gonzalez have condemned the house stating that it sits 3 feet under sea level, has water damage as well as sitting water under the home.

The home is currently on the docket for the Miami Historic Preservation Committee’s historic designation for the September agenda. According to Glaser, he stated that this will not stop their plans for building the new mansion and beginning demolition of Capone’s former home.

The property with the spec home is currently listed for sale at $16.95 million. The modern mansion will be designed by Kodi Karp.

Rockstar Energy Drink Founder Purchased Two Waterfront Properties for $35 Million

Founder of Rockstar Energy Drink, Russel Weiner recently purchased 2 waterfront properties in Miami Beach. Located on Pine Tree Drive, the properties were purchased for a combined $35.1 million.

The homes sold include 5011 and 5111 Pine Tree Drive. According to property records, the homes sold for $17 million and $18.1 million. The two properties were sold to a Las Vegas entity that is managed by Russel Weiner’s trust.

Weiner has made significant headway in the South Florida real estate market. In October 2020, Weiner purchased and flipped to homes in North Palm Beach for $48 million from the Swedish model, Elin Nordegren. He also purchased a mansion in 2016 for $20 million. He still owns this home.

According to Forbes, Weiner sold Rockstar Energy to Pepsi for $3.9 billion in 2020. It is estimated that Weiner is worth $4.1 billion.

The sellers, David and Leila Centner, are also the owners of the Centner Academy that is located in the Mami Design District. Earlier this year, the Centner’s received approval from the Miami Beach Design Review Board for an addition on 5011 Pine Tree Drive.

This specific property was built in 1920 by one of the city’s founding families and was designed by architect Russell Pancoast. The approval itself was for a two-story home, relocating the current residence, and relocating the boathouse.

The properties total 3.5 acres each with 150+ water frontage on Indian Creek. The property located at 5111 Pine Tree Drive features 9 bedrooms and 8 bathrooms, with over 20,000 square feet of living space. This property features ‘old world’ charm with hand-crafted hardwood floors, vaulted ceilings, and a Mediterranean design throughout.

The second property located at 5011 Pine Tree Drive is just one property over from 5111. The estate features a 3-story main house, guest house, and 560 square feet of water frontage. This property features a large dock for mega-yachts and multiple vessels. This property previously sold in 2018 for $14.5 million.

Phil Collins’ Former Miami Beach Mansion set to be Demolished

Orlando Bravo, managing partner at Chicago-based private equity, Thomas Bravo purchased Phil Collin’s waterfront mansion in January 2021 for $40 million. Since then Bravo has been working with the City of Miami Beach Design Review Board on plans to submit blueprints for a new construction home.

The existing property located at 5800 North Bay Road features 12,153 square feet of living space including 7 bedrooms, 8 full baths, and 3 half-baths. The property also features a pool overlooking the water, a koi pond, and an expansive jacuzzi.

The 200 feet of Biscayne Bay frontage makes this location ideal with a large boat dock. The home was built in 1929 and was expanded in 1986 as well as 1987. The main house was again altered in 1991 and 2006 with kitchen and bathroom updates. The property sits on 1.2 acres of unobstructed Biscayne Bay views.

Bravo plans to replace the home with a more modern-style mansion with a tropical garden surrounding it. The new residence’s main house would include 5 bedrooms, 5 bathrooms, a formal living room, a family room, a dining room, a movie room, and a wet bar. The residence’s 2 car detached garage would host the staff’s quarters, 2 separate suites as well as 2 home offices. The property will keep the current dock and pool but there will be an outdoor kitchen/barbecue area, spa, and gym.

Not only did Phil Collins own the property but Jennifer sold it in 2005 for $13.9 million. According to the Wall Street Journal, the property is being demolished due to the home having issues with flooding.

Floyd Mayweather Jr. Purchased Miami Beach Mansion for a Knockout Price

Floyd Mayweather Jr., former heavyweight boxing champion recently purchased a waterfront mansion for $18 million.

This home built in 2011 is located at 288 South Coconut Lane on the ultra-exclusive Palm Island in Miami Beach. This waterfront mansion features 3 floors of 10,853 square feet of living space all on a third of an acre. The 9 bedrooms, 10.5 bathrooms boasts 360 degrees views of the Miami skyline, bay, and the ocean.

The amenities for this gorgeous home include an outdoor movie theater, gym, dock, pool, and a 4 car garage. This waterfront home also features a private boat dock that can accommodate a 100-foot boat dock.

The home was originally listed in 2016 for $21.8 million and has since then been on and off the market with the last list price of $19.9 million. The Viyellas originally purchased the lot in 2009 for $2.7 million.

Candido Viyella, a former Morgan Stanley executive, and his wife Annabelle are listed as the sellers for this property, records show. Fojoso LLC, a Nevada-based corporation managed by Mayweather shows as the purchaser of the property.

Mayweather is not a new resident of Miami. Just last year, he sold his Pine Tree Drive home in Miami Beach for $6.3 million. He originally paid $7.7 million for the property.

Mayweather is considered one of the best boxers in the last 10 years. According to Forbes, Mayweather is also considered one of the top-earning athletes of 2019, earning around $915 million for that year.

On Hibiscus Island, a neighboring island, Andrew Mirmelli purchased a waterfront mansion for $21 million and re-listed it for $30 million. Gloria Estefan also sold their Star Island home for $35 million in July 2021. Lea Black of the Real Housewives also sold her waterfront mansion on Star Island for $34 million.

Waterfront Mansion Purchased by Miami Beach Investor at $21 Million – Lists the Property for $30 Million

Andrew Mirmelli, the owner of M&M Parking Management services and Investor, is now betting on the hot real estate market. With the recent purchase of a waterfront home on Hibiscus Island at $21 million, Mirmelli just relisted the property for a cool $30 million just a few days after closing.

The luxury waterfront property shows the previous owner as Sweet Gift LLC, a company owned by Abelardo Monroy. The home located at 432 South Hibiscus Drive features 6,090 square feet of living space, 5 bedrooms, 7 bathrooms, and a 3 car garage.

The property was built in 2001 on just under half an acre. The design of the home showcases a Mediterranean style throughout with neutral colors easily flowing from one room to the next. Expansive windows and tall ceilings provide endless natural light and views that can only be found on Hibiscus Island. The property also includes a custom pool, outdoor kitchen, and private boat dock with a lift.

Hisbiscus Island not only features unique luxury estates, but also offers gorgeous waterfront views, 24-hour security, and a family-oriented community center/park. Boating is a prime hobby on Hibiscus Island. With a lack of fixed bridges, boats of many sizes gain access to private boat docks throughout the island. This island is also close to South Beach and downtown Miami, making it a prime location to enjoy all that Miami offers.

This luxurious estate was previously sold in 2013 at $8 million. The owner has also listed it for rent at $130,000 monthly. Mirmelli recently sold a lot in downtown Miami to developer Moishe Mana. Mana paid $12.4 million for the lot which he plans to build a mixed-use development for offices, residences, and hotels.