A-Rod Flips a Bay Point Miami Waterfront Property for a Profit

Alex Rodriguez is at again! In another recent investment move in Miami, A-Rod and associates recently sold a waterfront home as a flip for $6.3 million. The property is located in the Bay Point neighborhood of Miami.

Rodriguez and his partners purchased the property in March 2021 for $5.5 million without doing any renovations or redevelopments for the property. This isn’t the first time A-Rod has made headway in Miami. In October 2021, A-Rod has invested in the Grand Station apartment tower as well as the South Beach Hotel in August 2021.

This current waterfront property located at 4425 Island Road in the heart of the Design District was originally built in 1962 along a lagoon leading to Biscayne Bay. The home features 3,107 square feet of living space sited on over 15,000 square feet of water frontage.

The property features a traditional floor plan with tall ceilings and an abundance of natural light. The kitchen showcases an expansive island with white cabinets, granite countertops, and stainless steel appliances.

The property features an in-ground pool, bbq area, and lush landscaping. The current listing states that the property is good for a new build or the renovate the existing home. The buyers for this property plan on redeveloping it for their needs.

Over the past year, prices for Bay Point have increased especially with waterfront homes. Although these prices are much lower for the surrounding areas, A-Rob and his associates made a profit on this investment.

Cincinnati Businessman Sells Miami Beach Mansion 6 Months after Purchasing Property

Cincinnati businessman, Josh Lehman recently sold his Miami Beach Mansion for $17.5 million. The waterfront mansion located on Hibiscus Island was sold 6 months after Lehman first purchased for a profit.

The buyer listed as Top Hibiscus LLC, an entity managed by Jose Carlos Pontes. Pontes is the head of Grupo Marquise a Brazilian-based construction company.

The mansion last sold for $15.5 million in May 2021 closing at a $2,850 per square foot. The current price closes close to $3,219 per square foot. The property was purchased with cash.

The property itself located at 160 S. Hibiscus Drive in Miami Beach features 5 bedrooms and 5.5 bathrooms totaling 5,427 square feet of living space. Upon entering, you immediately notice the tall ceilings, floating staircase, and the floor-to-ceiling sliding doors that lead to the exquisite back yard.

The waterfront mansion also features an Ornare custom kitchen, bar, spacious master suite with marble bath and Mia Cucina his/her closets. The exterior is complete with a rooftop deck, infinity edged pool with views of Biscayne Bay, outdoor bbq, and a 2 car garage.

The property was built earlier this year and the architect behind the modern design is Reinaldo Borges with interiors by Tara Nia Design. The home purchase also included a furniture package. The property also features a long dock for up to 38 foot boats.

Pontes, the purchaser of this property also sold another mansion that was located on Hibiscus Island in July 2021. That property located 150 S. Hibiscus was sold for $26.5 million.

Developer Sells Palm Island Mansion for $17 Million

Miami-based developer Pedro Adrian of Adrian Homes has recently sold his Palm Island waterfront mansion for a cool $17 Million. The buyer, listed under a LLC by the name of JLG Family Holdings LLC, purchased the property at $1,459 per square foot. The LLC is managed by Jorge and Aida Garcia of Miami Beach.

Located at 198 Palm Avenue, Miami Beach, this gorgeous estate was originally built in 2016 by Adrian and his wife Adria. Featuring 30,000 square feet of property and 100 feet of water frontage, this land is the perfect backdrop for the modern Mediterranean home.

The lot itself is considered one of the largest lots on Palm Island with one of the best views overlooking the downtown Miami Skyline.

The property features 14,000 square feet of unrivaled living space. A total of 6 bedrooms, 8.5 bathrooms, and a 4 car garage make this home truly spectacular. This mansion is not limited in amenities and the lucky buyers will enjoy a sauna, fitness room, and a temperature-controlled wine cellar.

This estate boasts top-of-the-line appliances and mechanicals. The backyard is complete with a 20×40 heated pool, expansive terrace with a summer kitchen and BBQ installation. The 2 large gazebos overlook the ocean and the spacious dock.

The Adrians own a primary home located at 145 Palm Avenue as well as an adjacent lot that features a tennis court.

Adrian Homes is a residential development company based in Miami. They have a long history with Miami and have been established in the area for the past 42 years. Adrian’s has built over 5,000 single-family homes as well as many retail and commercial centers in the Miami Area.

Sold Less Than 1 Year Ago- Chris Bosh’s Previous Waterfront Mansion Lists at a 192% Increase

Retired Miami Heat player, Chris Bosh sold his waterfront mansion in January 2021 for $14.4 million. The property located in Miami Beach has now been relisted at $42 million in less than 9 months.

According to county records, the current owner of the property is AquaBlue Group, a building design company also located in Miami Beach. AquaBlue is led by Philippe Harari and mainly does business in Miami. AquaBlue currently owns 2 Palm Island properties, 1 Hibiscus Island property, 1 Venetian Islands property, and a bayfront resort-like retreat.

The Miami Beach property was originally purchased for $695,000 in 1991 and the current home that sits on the lot was developed in 2008. In 2010, Chris Bosh purchased the property for $12.3 million. Over the years, Bosh has tried to sell the property for $18 million and $15 million, later selling in January 2021 for $14.4 million.

The waterfront Miami Beach mansion located at 6396 North Bay Road features 7 bedrooms, 8 bathrooms with 11,709 square feet of living space. The lot itself sits on 0.55 acres of water frontage directly on Biscayne Bay. This modern waterfront was architecturally designed by Touzet Studio with double-height rooms.

The custom Italian kitchen features unique modern cabinets, high-end appliances, and an expansive island. The master suite features direct bay views and a wet bar. The outdoor area is a perfect entertaining space with an outdoor kitchen, cabana bathrooms, infinity pool, gym, guesthouse, and boat dock. Custom branded Italian furniture will be included in the purchase.

The market has been surging with waterfront property transactions, including those on North Bay Road. In June, Dwayne Wade and his wife’s Gabrielle Union sold their home on North Bay Road for $22 million. Phil Collins also sold his waterfront home in January for $39.2 million. Jennifer Lopez and Ben Affleck rented a waterfront estate just 2 doors down from Wade for $150,000 monthly.

Another North Bay Road Mansion Sells for $13.6 Million

North Bay Road mansions have been a hot commodity this year! In January Phill Collins sold his North Bay Road mansion for $39,250,000 and is set to be demolished by buyer Thomas Bravo. In June, Jennifer Lopez and Ben Affleck rented a waterfront mansion for $130,000 monthly. With so much activity, it’s of no surprise how quickly these Miami Beach multimillion-dollar homes sell.

Lawyer Stephen Zack and his wife, Marquerite, also sold their mansion located at 5310 North Bay Road. The couple sold the home for $13.6 million after they originally purchased the home just 3 years ago for $8.5 million. Since 2018, the home has been listed for sale with an original list amount of $21 million.

The buyer for this Miami Beach home is listed in the county records as North Bay Road Developments LLC, a company that is managed by Guillermo Osses, Francisco Perez, and Miguel Yoma.

According to public records, Osses is the Vice President of Atacama 2108 LLC and is also affiliated with 23 other companies. Yoma is the Manager for San Marino Developments. The partners financed the purchase through Terrabank for $6 million.

The magnificent waterfront estate features 8,148 square feet of living space with 6 bedrooms and 6 full and 2 half bathrooms. The Georgian-style home has been remodeled two times, remarkable mansion features a 5,000 bottle wine cellar, pool. jacuzzi, and expansive home theater.

Stephan Zack is a trial attorney and partner at Bois Schiller Flexner LLP. He was also the lead attorney for former Vice President Al Gore in the Florida recount litigation that took place in 2000. During that time, he was an expert witness for voting accuracy. He is also a past president of the Florida Bar Association as well as the American Bar Association.

The Zacks also have a luxury unit located on the 54th floor of the Four Seasons Residences, which they purchased in July for $8.1 million.

Joe Jonas and Sophie Turner Make a Move to Miami with a Purchase of an $11 Million Waterfront Mansion

Joe Jonas and his wife Sophie Turner are the newest celebrity couple that has made the move to Miami along with countless others.

Their recent purchase of a waterfront property located at 4400 Island Road in the Bay Point Community, sits directly on a channel leading to Biscayne Bay. The couple paid $11 million for the 6 bedrooms, 8.5 bathroom estate.

This unique property was inspired by Frank Lloyd Wright, an American architect who has designed over 1,000 structures over his 70-year career. This specific estate was designed with harmonic accents while incorporating outdoor aesthetics. The Island Road mansion utilizes indoor gardens, a koi pond, and a grand salon with 30-foot ceilings to create a tranquil ambiance.

Over the years, this home was renovated with no expenses spared in the designs. Walking through, you’ll find Calcutta baths, Ornare closets, a sauna, gym, and steam room. Other features include a climate-controlled wine cellar and gorgeous cherry hardwood floors. The home also features a 10-foot pool, 94 feet of water frontage, and a boat dock.

The home was previously owned by Cuban-American musician Willy Chirino. Chirino is a Miami native and began his artistic career in Miami, releasing his first album in 1974. Since then, he has recorded over 20 albums and was nominated for multiple awards in 2007 at the Latin Grammy Awards. Chirino sold the home in 2014 for $4.2 million.

According to county records, the current sellers are Luis Arguello Jr. and Sylvia Chamorro. Arguello is the chairperson and CEO of DemeTech, a Miami-based maker of surgical sutures, mesh, and bone wax.

Joe Jonas is known as an American singer-songwriter and boy band member of the Jonas Brothers who debuted in 2006. Their band split in 2014. In more recent years, Joe has reunited with the Jonas Brothers and has created songs that we all know and love, including What a Man Gotta Do, Cake by the Ocean, and Sucker. Joe married Sophie Turner in March 2021.

If you’ve watched Game of Thrones, you know that Joe’s wife, Sophie Turner doesn’t need an introduction. From 2011 to 2014, she played the very difficult role of Sansa Stark. Game of Thrones was her first television role at the age of 14. Her career also placed her in other movies including X-Men, Barely Lethal, and The Prince. She has also modeled for Louis Vuitton and Gucci.

The couple listed their Enchino, California mansion in June for $16.8 million. Their home is still on the market.

This Bay Point community has seen a lot of activity in recent months with a former Goldman Sachs exec purchasing a waterfront mansion for $11.3 million and a record sale of $17.4 million in May 2021.

Hedge Fund Manager Purchases Coconut Grove Waterfront Mansion for $19 Million

Heath Freeman, the Managing Director for a New York-based hedge fund management company (Alden Global Capital), recently joined the Miami luxury real estate market craze. According to county records, Freeman purchased in the gated community of Camp Biscayne of Coconut Grove.

Freeman, also known as the “Hedge Fund Vampire,” received his name from his company’s aggressive and savvy business strategy. This strategy included buying companies, making aggressive budget cuts while laying off its employees.

These companies mainly included media outlets and many have criticized Freeman’s tactics. Alden recently purchased Tribune publishing, a parent company for the Chicago Tribune, and the Sun Sentinel in May for $633 million.

Freeman purchased the waterfront mansion located at 3503 Main Lodge Drive for $19 million while financing $12.4 million through Wells Fargo. The estate was originally built in 2004 and featured a 12 seat theater room, gym, game room, elevator, and an 8-car garage.

Over the years, the 6 bedrooms, 6 bathroom property received renovations and increased the size to 9,700 square feet. The estate features 1 acre packed with wonderful amenities including soaring windows, Italian Marble and hardwood flooring throughout, an expansive eat-in kitchen, library, and a full guest suite.

The bayfront estate also features a 200-foot boat dock, white sandy beach, 60-foot pool, with tropical foliage covering the property to create optimal privacy. The neighborhood itself features 18 homes in the private Camp Biscayne neighborhood. Camp Biscayne is located near Mr. C Miami, Two Park Grove, and Grove at Grand Bay.

The seller of the Camp Biscayne property, David Ivler President of a Miami-based drone manufacturer, purchased the home in 2004 for $1.5 million and later deeded it to his wife in 2007. The property was originally listed for $22 million in March 2021.

Other waterfront homes in Miami have also sold for elevated prices including Spencer Kupferman, CEO of PKWare, purchasing $12.75 million estate while the previous owner paid $3.6 million.

On Hibiscus 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 to rapper Diddy. Lea Black of the Real Housewives also sold her waterfront mansion on Star Island for $34 million.

Diddy Purchases Gloria Estefan’s Waterfront Mansion on Star Island

In July 2021, Gloria Estefan and her husband Emilio sold their Star Island home to a mysterious buyer for $35 million. At the time, we knew the buyer was listed under an LLC managed by Tri Star Sports & Entertainment Group and that Sean Combs, also known as Diddy, was a neighbor to the Estefan’s.

It has now been revealed that Diddy is actually the buyer of Gloria Estefan’s waterfront mansion on the exclusive Star Island. Diddy can now add this waterfront mansion located at 1 Star Drive to his portfolio.

The 8,000 square foot mansion sits on 1.3 acres and features a total of 6 bedrooms and 10 bathrooms spread out through the main and guest houses. The rich hardwood and marble floors flow effortlessly through the open floor plan leading to the gorgeous outdoor oasis.

The Estefans originally purchased the home for $1.84 million in 1993. Since 2015, the property has been on and off the market with an original list price of $40 million. The last list price of this property was $27.9 million in 2020.

Diddy purchased the home next door in 2003 for $14.5 million. This property features 19,545 square feet with 9 bedrooms, 12 bathrooms, a swimming pool, and a private boat dock. Diddy’s home was formerly owned by Tommy Mottola.

Is hasn’t been released yet what Diddy plans on doing with both of the properties or if he plans on combining the two but we can’t wait to see what he has in store!

Other notables that have owned or currently own on Star Island Include Alex Rodriguez, Don Johnson, Rosie O’Donnell, Xuxa, Shaquille O’Neal, Lea Black, and Phillip Frost.

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!