Matt Damon’s Miami Beach Estate Now Under Contract

After spending over 600 days on the market the Miami Beach waterfront estate owned by Oscar award winning actor Matt Damon is finally under contract  The one acre property located at 6020 North Bay Road is comprised of two separate but adjacent parcels  It was originally listed for $20M on April 11 2013  According to MLS records the North Bay Road waterfront home which was reduced late last year to $18999000 went under contract earlier this week on December 1 2014  The estate known as Maravilla was built in 1935 and is situated on a rare double lot with 170 feet of water frontage  In two separate transactions in 2005  Damon acquired it for a combined total of $145M

No word on who the buyer might be but due to the sheer size of the land itself my guess if I had to venture one is that the buyer has plans to knock down all existing structures and build anew  Damons seven bedroom Miami Beach estate has just 12705 interior square feet quite small when compared to the 21845 square foot home that could reside there according to my calculations if built to code  The property located at 6020 North Bay Road has great potential a fact that I am sure would not be overlooked by buyers in this price range  If I am correct the transaction should close quickly as there would not be a need to do a home inspection

It will be interesting to see the final sales price once everyone lays down their cards  Word has it that Damon along with his wife and children relocated in 2012 to Pacific Palisades a neighborhood of Los Angeles California

If youre curious about other luxury houses for sale on North Bay Road or other exclusive neighborhoods throughout Miami Beach be sure to pay a visit to our collection of luxury real estate for sale in Miami and Miami Beach

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.

Chris Bosh Buys Luxury Home on North Bay Road

Yesterday, the Miami Herald reported that Chris Bosh of the Miami Heat recently purchased a 7 bedroom/8 bath waterfront home on North Bay Road for $12.5M. Chris Bosh, along with LeBron James, joined the Miami Heat this past summer through free agency. Since that time, both basketball stars have been busy house hunting and it appears that Bosh has decided to acquire the 12,000 square foot home located at 6396 North Bay Road in Miami Beach. The waterfront home was built in 2009 and comes equipped with a gourmet kitchen, gym, elevator, Infinity-edge pool, boat dock and covered summer kitchen and BBQ area. The Miami Luxury Homes market is getting hot!