Anheuser Busch Executive Pays Record Price for Waterfront Home in Bay Harbor Islands
Photo Credit: Dreampact Ventures and Douglas Elliman
Another record sale is in the books for Miami! Just this past week, an executive for Anheuser-Busch, Fued Sadala, purchased a waterfront home in Bay Harbor Islands for $12 million. This marks another record after the most recent mansion that sold for $65 million as the highest sell in Miami-Dade history.
Located at 9814 West Broadview Drive, the 8 bedroom and 9 bathroom home features 7,098 square feet of living space. The design of this modern home showcases its straight rooflines and large expanses of windows and glass doors. The expansive master suite with a sitting area, steam shower, and double walk-in closets is perfect with its Biscayne Bay views.
Photo Credit: Dreampact Ventures and Douglas Elliman
The open floor plan flows seamlessly throughout, opening to the large concrete patio and pool. The expansive yard makes for entertaining as well as gaining access to a private boat dock all on 0.3 acres. The property was originally built in 2002 and was last sold for $4 million in 2018.
Photo Credit: Dreampact Ventures and Douglas Elliman
The waterfront home was originally listed for $12.5 million and sold within 2 months. This sell is the highest sold waterfront home in the two-island town of Bay Harbor Islands.
The previous record was at $11.5 million in Bay Harbor Islands that sold in December 2020 at 9540 West Broadview Drive. Also in 2020, the CEO of Moet Hennessy sold his Bay Harbor Islands waterfront home for $8.1 million.
For more information on Bay Harbor Islands luxury homes or any of its new projects, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Photo Credit: Dreampact Ventures and Douglas Elliman
President of a Wealth Management Firm Buys Waterfront Mansion in Coral Gables for $14.6 Million
Miguel Duenas, President and Chief Investment Officer for Dimension Capital Management (Coral Gables based wealth management firm), just purchased a waterfront mansion in the Old Cutler Bay community for $14.6 million.
Miguel and his wife purchased the home located at 9385 Balada Street, Coral Gables from Jose I. and Elizabeth J. Garcia. The Garcias originally purchased the estate in 2018 for $7 million.
The home was built in 2007, featuring 6 bedrooms, 7.5 bathrooms with 8,245 square feet of living space. The lovely estate sits on 0.7 acres with 364 feet of water frontage. The home is equipped with everything you could possibly need and want in a luxury home; full-gym, elevator, infinity pool and boat dock.
The gorgeous home is completely refined with custom cabinetry, granite countertops, and high-end stainless steel appliances. Multiple covered terraces grace the exterior overlooking the unobstructed bay. One of the best features of this property is that there are no bridges to hinder direct access to Biscayne Bay.
This subdivision located in Coral Gables is known for its privacy and architecturally designed waterfront estates. Upon entering the gated-community, you are greeting with gorgeous tree-lined streets leading to the immaculate and custom estates. You will truly have a neighborhood feel in the middle of a big city.
Neighborhood Amenities:
5+ miles of walking and biking trails
24 hour guard gate with security
24 hour roving patrol security
Direct access to the Atlantic Ocean
Wide canals for boating
Old Cutler Bay is located one block south of Kendal Drive and just a few minutes from Matheson Hammock Park & Marina and Fairchild Tropical Gardens. This neighborhood also places you 30 minutes away from Miami International Airport as well as downtown Miami.
Recent sales in Old Cutler Bay include the founder of TechCrunch, who purchased a waterfront mansion for $16 million in May.
Venetian Islands Waterfront Manse Trades For $9 Million Post-Irma
Despite our brush with Hurricane Irma last month, it seems that buyers have not been scared off from waterfront real estate. A charming Colonial-style 5,600 square foot waterfront home on Dilido Island has sold for $9 million, or $1,600/square foot ($540/ square foot if you are calculating the land value)..
The buyer, who hails from Ecuador, was represented by Dora Puig of Luxe Living Realty and is also the broker for the Miami Condo Investments Team. “People are paying premiums on land to live on the Venetian Islands,” she told the Miami Herald. “Even after the hurricane scare, deals are closing. People are not running away.”
The home was originally built in 1941 and has 4 bedrooms, each with a bay view, and 5 bathrooms. The 16,700 square foot lot has and infinity-edge pool and 132 linear feet of bay frontage with a boat lift.
This sale marks the most expensive single-family transaction since the storm passed. According to the Venetian Islands Market Statistics page, the average sales price per square foot on the islands over the last 6 months is $1,520/square foot.
Gorgeous Spec Home at 6440 North Bay Road Reduces Price to $26,950,000
After a brief hiatus, the newly constructed spec home at 6440 North Bay Road has returned to the market with a $2 million price chop, asking $26,950,000. The home has 15,519 interior square feet with 7 bedrooms and 9 baths.
The tropical-zen inspired home blends contemporary interiors with the outdoors and features sliding glass walls throughout much of the space. There is an office, gym with outdoor yoga area, a theater and a separate 2 bedroom guest wing with a private staircase and dedicated terrace and living area.
Outdoors, there is a separate cabana with retractable canvas awning surrounded by tall, mature landscaping and infinity-edge pool. The lot features 100 feet of bay frontage with a wooden dock.
The North Bay Road home was developed by Peter Fine’s To Better Days Development, that is based in New York. Have a look at the MLS photos below..
Miami Beach Teardown Fetches Record Price
What would you pay to have this sunset view every day of the year? If you are a South African business mogul, I’d say you would likely pay $10 million. Then you could tear down the house that is on the lot and build something amazing that is customized to your taste. Yes, that’s what would happen because that’s what did happen. An unnamed South African businessman has taken the leap and paid an astonishing $746/square foot to call 28 S Dilido Avenue home. The property is very special, it is a 13,408 square foot lot with 107 linear feet of water frontage and a year-round view of Miami’s famous multi-colored sunsets as the sun sinks behind Downtown Miami’s glistening condo towers.
Because the lot is so special, calculating the final price took six months and surgical precision, according to Dora Puig, who brokered the sale. She spent endless hours dissecting the comparable sales of waterfront teardown homes. Dora is also the Miami Condo Investments Team’s Madrina, the sales team is very proud to call her our broker! Here are the types of details she went through…
The overall average price per square foot of Miami Beach waterfront teardown lots is $392/square foot over the last year (excluding this sale). There were 19 total sales with the lots ranging from 9,500 square feet up to 30,000 square feet and with between 60 feet and 200 feet of water frontage. You also have to consider what type of waterfront views the lots have. Some have the same open bay view with the skyline backdrop, which is considered a premium by many. Some have views of the Port of Miami, so they can watch the cruise ships depart and arrive and commuters sit in traffic, and some have a peaceful lake view. Dora had to do the math on 19 properties and figure how much each factor of each property was worth, then do the math backward with the property the buyer is interested in to calculate what it would be worth. I consider this part a daunting yet gratifying task.
The most expensive sale prior to 28 S Dilido was 40 W San Marino Ave, which traded for $610/square foot. That lot had similar views but was 3,000 square feet smaller and had almost half of the linear water frontage that Dilido has.
The least expensive recent land sale has been 860 Lakeview, which sold for $132/square feet. This lot is an ENORMOUS 18,630 square feet that has 80 linear feet of water frontage, but the view is not the year-round multi-colored sunset behind the downtown buildings view that Dora’s mystery buyer was seeking. It looks out over the new Ritz Carlton Miami Beach, that was once Miami Beach’s Heart Institute and is currently under construction. That is going to be a gorgeous building, but let’s stay on topic.
Now that Dora has been victorious in discovering the land value and closed the sale, whispers around the office are that the buyer (who has not been named) has chosen Saota to design his now home. Saota is a South African design and architecture firm who is responsible for that amazing Miami Beach mansion on Pinetree Drive with a waterslide off of the roof that sold for $34 million in January. That post took me a long time to write because I couldn’t stop looking at the pictures. I am overjoyed to hear that Miami will receive another home that they have designed!
What is the takeaway of this sale?
People ask me all the time if the Miami market is a bust because of the hoards of negative news reports that are being written. I have to be honest and say that yes, there is an inventory glut in the Downtown and Brickell area condo market, but that doesn’t equate to a bust.
Wealthy people buy what they want, not what is cheap and Miami is an immensely desirable location for people from around the world. This buyer could have chosen any city in the world to call his home, and he chose Miami. We have the lifestyle that people seek, amazing culture, convenient accessibility and ease of access from other international locations, and that all-important multicolored sunset that shines behind our glistening condo towers year-round. Just like the client wanted. Congratulations to him! Let’s see that sunset again for good measure.
Jennifer Lopez & Alex Rodriguez an Item; Could a Miami Beach Waterfront Home be in Their Near Future?
If A-Rod and J-Lo are heating up as much as they say, the pair may soon be on the hunt for a future love nest. With Rodriguez’s real estate background, my guess is that the couple “eases” into their relationship by purchasing a vacant, waterfront lot and then developing upon it their ultimate dream home…and if they’re still together by the time the home is completed, then it’s meant to be.
If my predictions are correct, A-Rod and J-Lo will soon be on the lookout for a vacant waterfront lot on North Bay Road – the go-to choice for Miami Beach’s rich and famous. My bet is that they’d pursue 5840 North Bay Road (pictured above) – the largest available lot with the most water frontage on North Bay Road. 5840 North Bay Road is a 38,000 square foot lot with 191 linear feet of water frontage and comes with an asking price of $16.9M.
If Lopez really is still Jenny from the block, she should have no reservations about moving to a waterfront estate on North Bay Road since she once owned a home there two lots down at 5800 North Bay Road. That home eventually sold a few years ago to Grammy Award-winning artist Phil Collins.
Check Out Photos Of Kylie Jenner’s Art Basel Rental Mansion
Art Basel, a time for attention-grabbing excess… and for the family that is known for attention-grabbing excess, we would expect no less than this $8,000/night rental mansion for 19-year old Kylie Jenner.
During the week-long internationally acclaimed art fair, Ms Jenner took to social media, showing off its many features. According to TMZ, the home was actually an Airbnb rental. Tsk tsk. Airbnb has been a hot topic in Miami Beach lately, the city is issuing $20,000 fines to homeowners who get caught letting out their places on the website, since it skips the city’s hotel tax. At $8,000/night though, that fine can be made up relatively quickly and who knows, maybe the owners did pay their hotel tax.
Anyway, the home is a newly constructed waterfront estate on Miami Beach’s Hibiscus Island. The 1/4 acre lot was originally purchased in 2012 by a Swiss doctor for just under $5.5 million. The original house, which was built in 1994, was torn down and construction began on the current mansion. It has 6,700 square feet with 6 bedrooms, 6.5 baths, an elevator and rooftop terrace, private theater, bayfront swimming pool and summer kitchen with skyline views. The estate is asking $20 million for purchase. Here are the photos from the Airbnb listing:
DEAL ALERT: Lovely Venetian Islands Waterfront Home Has $2M Reduction
Earlier today a little birdie peeked into our email tip line and suggested that there was a house at 1370 S Venetian Way on San Marco Island that was going through a series of price reductions with an “especially eager” seller. I thought to myself, “this is going to be fun.” I jumped over to the MLS to see what could possibly be wrong with the house that would make a total of $2 million in price reductions necessary. What I found was an especially lovely house and nothing to make fun of. Heck, if I’d love to live here if I had $5.865M.
The house hit the market back in August for $8.9M and has had steady reductions ever since. It is now priced alongside the average closed sales price for similar waterfront properties on the Venetian Islands, which is $5.865M over the last 3 months. Built in 2001, the current owners have outfitted the property with tasteful updates and seemingly kept the property up well. They opted for things like hurricane impact windows throughout over the typical more flashy upgrades we typically see in Miami. Good call.
Situated on a southern-exposure waterfront lot with 60 feet of frontage to the Biscayne Bay, the views from the pool, patio, balcony and rooftop sundeck are beautiful day and night. You would be able to see the Port of Miami, Downtown Miami lights and skyline and the underlit MacArthur Causeway at night. The interior is 4,033 square feet with 5 bedrooms, 4.5 baths and a guest house. As of today, the listing price is $5,865,000 and from the tip we received, I imagine there is more room to negotiate. I’m at a loss. I don’t know why this house has no buyer. Do you have suggestions? Have a look at the MLS photos and drone video below and let us know. You can also compare it to other luxury houses in the neighborhood by viewing our collection of luxury homes for sale in Miami, Florida.
Who Is Going To Buy Alan Potamkin’s Coral Gables Estate For $47.5 Million?
It’s the house that has everything for the person who has everything. Yes, Car King Alan Potamkin has relisted his sprawling Gables Estates waterfront mansion for a whopping $47.5 million.
Before you drop your jaw on the price tag, let it be known that this is actually a $20 million reduction from the $67 million they were seeking last year. After nobody raised their hand and said, “Me!” the price was slashed to $49 million for the house and half of the land.
The lot is actually two separate lots that are combined to make up a 3.6 acre estate with 937 feet of ocean frontage. Talk about a compound! They ended up at $39 million before regrouping and coming back to the market this week. Today’s asking price of $47.5 million includes the house and all of the land.
The house has over 20,000 square feet of interior living space with 9 bedrooms, 10 bathrooms and 5 powder rooms. There is also an 8 car garage, with enough driveway space for everyone except Gil Dezer. There are several kitchens as well, in case you want to switch things up from time to time. There’s enough space that you could essentially move your family to another area of the house and it would feel like an entirely new home, except you never left your house.
Some of the bells and whistles that come along with the estate are 2 built-in saltwater aquariums, an aviary, his and hers libraries, a billiard room, boxing room, gym, massage room, nanny’s quarters, nursery/play room, guest house and a property tax bill of almost $400,000.
Last year, Forbes made a slideshow of the estate’s pictures, seeming very impressed by the decorative ceilings. They forgot to mention the ceiling in the billiard room, which is hideous. A drop ceiling with florescent lighting has no place in a $47 million estate. Not even in the garage. Just, no. Take it down and make it stop. The drop ceiling looks like a suburban McMansion that is aspiring to be a notable piece of Miami real estate. In my opinion, the animal murals need to go too, but I guess we all have our own taste.
Outside, the lot has a resort-like feel with a pool and Jacuzzi overlooking the Atlantic Ocean, a private beach, fire pit, tennis court, a lagoon, and a boat dock. There are several patios and terraces on the house, perfect for luxurious soirees or a quiet evening with a candlelit dinner and a view.
I’m wondering who could be the next owner of the property. It is rumored that Lebron was considering it when he took his talents to South Beach, but he’s gone now. Wade is gone too and Bosh is hurt, so I doubt a Miami Heat player will step in. We already said that there’s not enough parking for Gil Dezer, so he’s out. It has been reported that Lil Wayne is looking to take his talents off of South Beach after being repeatedly swatted (when someone calls 911 on you and sends the entire police force to your house, only to find out you’re still in bed). Maybe a Miami season of the Bachelor? There are certainly enough bedrooms for the suitors & scene locations on the estate. Or maybe the person who invented The Bachelor. We’ll see. In the meantime, check out the pictures below.
