Lenny Kravitz and Stephen Muss’s Sunset Islands House Hitting the Market for $25 Million

A lavish Mediterranean Revival house on Sunset Island II once owned by singer Lenny Kravitz and currently owned by developer Stephen Muss (known for ‘saving’ the Fontainebleau Hotel in the 1970s and 80s, etc. and also turning it into kind of a meh Hilton) is going on the market for $25 million. The Wall Street Journal got the exclusive on the listing from the Jills, who are listing the property at 1800 W 25th Street. It has not hit the MLS yet.

Casa Kravitz/Muss has a movie theater, gym, elevator, and surprisingly only four bedrooms. According to the Journal, Kravitz bought the 11,270 square foot pile in 2001, shortly after its completion, for just over $8 million and “put his mark on it,” says one of the Jills, by bringing in sand to create a beach. And by ‘beach’ she more than likely means a really nice, glorified sandbox, because a true beach leads to water, with waves lapping the sandy shoreline, and we’re 99.9% sure there are sea walls running the house’s entire 125 feet of waterfront.  In 2005 Kravitz sold the place to Muss, its current owner, for $14.5 million.

Floyd Mayweather Jr., World’s Highest Paid Athlete, Buys $7M Pine Tree Drive House

Undefeated champion boxer Floyd Mayweather Jr., who Forbes ranked as the world’s highest-paid athlete last year, making a whopping $300 million, has spent $7.7 million of that money on a brand new Miami Beach home at 5501 Pine Tree Drive (it’s so new that Google Street View still shows it as under construction). Although the listing closed on May 13th, Mayweather posted a shot of it on his Instagram account nine weeks ago. What’s the deal with those Bugattis anyways? The house is also a nice little upgrade from his even more modest condo in Sunny Isles Beach.

Classic Miami Beach Med-Deco House by Flamingo Park is $2.499M

Mediterranean Revival ruled South Floridian architecture in the 1920s, while art deco, that fanciful modernist creation based on the lines of technology and ideas of the future, prevailed in the ’30s and ’40s. In the balmy, already fantasy-like atmosphere of South Florida, these two architectural styles would also sprout another unlikely peer generally called Med-Deco. This $2.499 million renovated house for sale in the Flamingo Park neighborhood and designed by Henry Hohauser is an example of the illusive Med-Deco.

Formally Med-Deco makes no sense. Is this house, built in 1935. supposed to be a recreated Spanish villa or a Corbusian ‘machine for living?’ Are its occupants living in the future (as imagined in 1935) or the past? Visually it’s a delight. The five bedroom, five bath house has just over 3,300 square feet of living space, and is replete with classic architectural details including terrazzo floors, a stone faux fireplace (which may originally have been gas), graceful curves, and a hemicircular (a hemicircle is a structure in the form of a half-circle) dining nook.

Venetian Islands Real Estate: November 2015 Market Report

Each week, Miami Beach Realtors host a progressive open house of listings in the area. This week’s focus was the Venetian Islands, with an impressive 23 properties on the tour! This is a great time for the Venetian Islands as the roads and infrastructure are in the last months of a $12.4 million restoration project. The Venetian Causeway is expected to reopen by the Spring of 2016, offering residents new roads as well as utilities. The construction project has not slowed the bustling real estate market in the neighborhood. Here are some highlights of the market as we draw an end to 2015:

There are currently 47 actively marketed homes for sale on the Venetian Islands in Miami and Miami Beach (comprised of Venetian Drive, San Marco Island, San Marino Island, Di Lido Island and Rivo Alto Island).

Highest Price Listing: 610 W Dilido Island
$15,500,000 for 5 bedrooms, 6 baths in a 5,210 square foot home on a waterfront lot.

Lowest Price Listing: 211 S Rivo Alto Drive
$1,595,000 for 4 bedrooms, 3 baths in a 2,194 square foot home on an interior lot.

Contracts Signed
There are 4 properties that are currently under contract, ranging in price from $5,900,000 down to $929,000.

Recent Closings
Over the last 3 months, we have seen 9 properties trade hands for $12,500,000 down to $1,525,000.  Waterfront properties averaged $1,450/square foot in price vs $811/square foot for interior lots.

Featured Property: 300 W Rivo Alto Drive
Of the actively marketed properties in the neighborhood, we made special note of the home at 300 W Rivo Alto Drive, offered at $12,750,000.

This Venetian Island home was built in 1938 on a waterfront lot, but recently remodeled beautifully. It offers 5 bedrooms, 5 1/2 baths and 90 feet of bayfront views with an infinity lounge pool and boat dock. There is an outdoor living room with summer kitchen, garden and even a koi pond with waterfall. The interior design is tasteful yet dramatic with zebrawood walls, calcutta gold marble, top of the line appliances and Crestron security system.

Here are some additional photos of 300 W Rivo Alto Drive:

And if that waterfront house doesn’t tickle your fancy, be sure to visit our real estate listings page for luxury houses for sale in Miami and Miami Beach.

A Tour of the Malibu-style Beach House located at 222 Ocean Drive in South Beach – Asking $14,995,000

Tuesday afternoon, I had the pleasure to drop by an open house that my broker, Dora Puig, was holding, so I could see first-hand the amazing new luxury listing she recently landed – a 7,000 square foot, Malibu-style beach house located at 222 Ocean Drive in the South Beach neighborhood known as South of Fifth. It’s not often that you get the chance to visit a single-family home in that neighborhood. In fact, there are only two other single family homes that exist in all of South of Fifth, and this is the only one that is located across the street from the beach, right smack on Ocean Drive. In terms of location, it doesn’t get much better than this. Fortunately, location isn’t the property’s only strong suit. It’s also incredibly sexy. The moment you walk into the recently renovated, three-story home, you are greeted with soaring 20-foot ceilings and an elegantly appointed, white spiral staircase. The luxury home for sale consists of 4 bedrooms, 4 full baths, 2 half baths, and includes a theater room and bar; a custom wine cellar; 11-inch wide plank Oscar Ono rustic wood floors; a custom kitchen with best-in-class appliances by Viking, Miele, and Sub-Zero; a private, rooftop deck with pool and summer kitchen; and an air-conditioned 2-car garage to boot. This is the type of property that will appeal to a special kind of buyer – one who fully appreciates its uniqueness and location, and, of course, has close to $15M to indulge. As for the rest of you, the accompanying photos will have to do.

Don Peebles Discusses His Favorite Real Estate Markets in America

His assessment of the sub-markets in Miami and Miami Beach is right on point.  The recovery that both markets have seen over the past five years is simply astounding, and for good reason.  Miami, for a number of reasons, is an alluring city which attracts buyers from all over the world.  That has, and likely will continue to be, the driving force behind each sub-market’s rebound; a force which, in all likelihood, will push values well beyond those last seen at the peak of the market during the first quarter of 2007.

Miami Featured on “Today” Show This Morning

Alex Rodgriguez Lists Miami Beach Mansion for $38M

After moving into the property less than a year ago, Alex Rodriguez looks to part ways with his ultra-chic Miami Beach mansion.  The New York Yankees All-Star recently listed the 20,000 square foot, waterfront home for $39M.  The modern North Bay Road estate is situated on a 1.07-acre lot and has 9 bedrooms, 11 full baths and 2 half baths.  The completely-gated property features 275 feet of water frontage, 2 boat docks, a 3,000 square foot sports room with batting cage, commercial-sized elevator, heated pool, gourmet open kitchen, home theater, outdoor kitchen area, guest house, Crestron lighting, 16 security cameras, surround sound system throughout, seamless indoor/outdoor living spaces, rooftop deck, separate gym building with steam room, covered terraces and a 2,200 square foot Master Suite with atrium, sitting area, his and hers baths and over-sized closets.

Alex Rodriguez purchased the property for a reported $24M in 2010 while it was still under construction.

$47M Sale of 3 Indian Creek Drive Shatters Previous Record Set in March

Records were made to be broken.  Sometimes, however, records are shattered.  The recent sale of 3 Indian Creek Island for $47M shatters the previous record-breaking sale for single-family homes in Miami-Dade County set earlier this year by 22%.  Edward Lampert, Sears Holdings Corp.’s chairman and hedge fund billionaire, purchased a waterfront estate, also located on Indian Creek Island, in March for $38.4M.

3 Indian Creek Drive is paradise-living at its finest.  The 30,000 square foot, waterfront home is situated on an 80,000 square foot lot and has 10 bedrooms, 10 full baths, 4 half baths, a 100-foot resort-style pool, a full catering kitchen, certified greenhouse, rooftop lawn and Jacuzzi, panic room, wine cellar, servant room, chromotherapy spa and massage room, library, elevator and a 7-limo-sized car garage.