Tampa Bay Rays Co-Owner Just Sold Miami Beach Waterfront Estate for $31.5 Million

May 11, 2022

Randy Frankel, co-owner of the Tampa Bay Rays, has sold his oceanfront Miami Beach home for $31.5 million in an off-market deal and this mansion is too stunning not to share!

Not only is this waterfront mansion absolutely gorgeous, it is now considered one of the most expensive homes to sell in Sunset Islands. The property itself rests along Biscayne Bay expanding nearly 0.45 acres located at 1635 West 22nd Street. It features 7 expansive bedrooms, 8.5 bathrooms that include 4 bedrooms in the main house, 2 guest suites and a staff room.

This contemporary and gated home is Miami living at the finest, with its ultra-modern design, grand living room with 14 foot ceilings, chef’s kitchen, formal dining, and wall to wall sliding doors leading to an elite outdoor entertaining space.

This home also offers a number of luxury amenities including, an elevator, resort-style pool, deck with summer kitchen, rooftop deck, new seawall, and a large dock.

The property was developed by Todd N. Glaser and designed by Domo Design.

The Frankels originally purchasing the home in August 2020 for $14.4 million and then sold it at a 120% markup. Property records for the home show the buyer as Ares Management CEO Michael Arougheti. Ares Management is listed as an investor for the Inter Miami CF for the Major League Soccer team with David Beckham.

Although Randy Frankel is the co-owner of the Tampa Bay Rays, he has also been apart of some big ventures. He is the former managing director at Goldman Sachs, real estate investor, owns vineyards on Long Island, gyms, country clubs, and has stake in a few European sports teams. The Frankels also recently sold a Miami penthouse for $6.45 million in January 2021 and another penthouse in December 2021 for $9.491 million.

About Sunset Islands

Sunset Islands are a set of four small islands located just to the West of Miami Beach. As the name implies, the islands are known for their captivating sunset views that offer both dry and waterfront lot homes. This luxury neighborhood is one of the most highly coveted in all South Florida.

Residents enjoy 24 hours a day gated entry, private docks for waterfront homes, and a central location to hot spots such as Sunset Harbour and Lincoln Road. Serving stunning water views, a prime locale, and elegant bayfront estates, the Sunset Islands community is undeniably one of Miami Beach’s finest.

There are currently 7 homes listed for sale on Sunset Islands with a starting price of $5 million.