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.

New Waterfront Condo Development Proposed in Edgewater

The same developers that brought you One Thousand Museum are proposing a new waterfront luxury condo development in the Edgewater neighborhood. Receiving its name from its street address, 710 N.E. 29th Street, 729 Edge will sit on 0.47 acres along Biscayne Bay.

The five parcels that the developers have planned for this project are currently under contract and they also plan to buy out Harbor 29 condominiums for this development as well.

The project itself would expand 342,848 square feet rising 58 stories tall. There would be a proposed 70 luxury units with three to five-bedroom options. The breakdown of the units would be one to two units per floor. Full floor units would expand a total of 6,174 square feet. 729 Edge would also feature 2 penthouses-styled townhomes spanning two floors.

The parking garage would rise 9 stories featuring 160 spaces. The garage is planned to be developed on 483, 485, 501, and 530 N.E. 29th Street totaling 0.41 acres. These lots are also under contract with the developers.

There would also be 13,037 square feet of commercial space between two buildings with a restaurant on the lower level of the condo tower.

Zaha Hadid with ODP Architecture & Design was the mastermind behind the design of One Thousand Museum. For 729 Edge, ODP will be the architecture and will feature some similar elements to Hadid’s designs.

Amenities will be similar to those of One Thousand Museum.

Tower Amenities:

• Private dock
• Lounge/bar
• Business center
• Private dining room
• Theater room
• Storage space for owners
• Fitness room
• Salon/spa
• Indoor pool
• Juice bar
• Sky lobby on the top floor

Plans for 729 Edge have already been submitted to the city’s Urban Development Review Board but will be reviewed on October 20th. Proposed by 710 Edge LLC, owned by Kevin Venger, Michael Konig, Louis Birdman, and Alex Posth were also a part of the development of One Thousand Museum.

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.

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.

Another Tech Exec Moves to Miami-Purchases Waterfront Estate for $12.75 Million

As Miami becomes a new tech hub for the east coast, more high-net tech execs and their families are migrating to its rapidly expanding financial districts as well as its barrier islands.

Spencer Kupferman, CEO of PKWare (Wisconsin-based tech company) and his wife Ruth recently purchased a waterfront estate in Bay Harbor Islands for $12.75 million. The home located at 10000 West Broadview Drive, features 7,426 square feet of living space with 8 bedrooms, 7 full baths, and 2 half baths.

The home was rebuilt in 2015 and designed with a mixture of Modern and Plantation architecture to embody the tropical foliage views. The mansion also features a grand living room with 20+ foot ceilings and a gorgeous chef’s kitchen. The kitchen is not limited in high-end features, with a SubZero, Bosch, and Miele appliances.

The waterfront estate also offers an abundance of indoor and outdoor entertainment space with wide open bay views on 75 feet of water frontage. The Kupferman’s will also enjoy a private boat dock with a lift. This home is also considered a smart home with the Lutron systems that feature integrated lighting, speakers, and security camera options.

The sellers for this home are Tony Seiden, who is the CEO of a New York based foreign business corporation and wife Jaffe Seiden. The Seidens took advantage of the current Miami market when they originally purchased the home in 2006 for $3.6 million and now selling it as $9.15 million price increase. The home was originally built in 1956 with renovations and updates along the way.

This purchase is considered the highest price sale for a residential single-family home in Bay Harbor Islands. The previous record was a sale that occurred last month by a Former Anheuser-Busch exec Fued Sadala who purchased 9814 West Broadview Drive for $12 million.

For more information on Bay Harbor Island’s luxury homes or any of its new projects including Ambienta and Onda, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.

Former Mansion of American Gangster Al Capone is Facing Demolition

Al Capone was born in 1899 in Brooklyn, New York to Italian immigrant parents. He was one of eight children while his mother was a seamstress and his father was a barber. He had a regular childhood and nothing notable could predict his claim to American fame.

Capone later became the most infamous gangster in American history. In the ’20s, Capone began his Chicago operations of bootlegging, gambling, and organized crime which became a multi-million dollar business. At the time of the St. Valentine’s Day Massacre on February 14, 1929, he retreated to his Miami waterfront mansion to hide out from authorities.

After being released from prison after a six-and-a-half-year stint, Al Capone spent his last years living in Miami on Palm Island at 93 Palm Avenue. The waterfront mansion was originally built in 1922 and Capone and his wife purchased the home in 1928 for $40,000, just 3 years before he was sentenced to prison. The title shows that the home was purchased under Capone’s wife’s name.

The home has had many owners, as well as, extensive remodels over the years. The 0.6-acre lot features a colonial-style home with four bedrooms and 3.5 bathrooms. The more unique and original features of the home are still there including a black and gold Art Deco powder room, 1920’s ceilings lights as well as the fireplace located in the living room. The home also showcases french doors, hardwood floors, and double-hung windows.

The outside features 100 feet of Biscayne Bay water frontage with a 30×60 foot pool next to a 2-story cabana that is water-facing. At the front of the property sits a guesthouse with 2 bedrooms and 1 bathroom.

The home is currently owned by business partners including developer Todd Glaser who purchased the home this summer for $10.75 million. The plan is to demolish the home and build a modern-style spec home with 8 bedrooms, 8 bathrooms, spa, jacuzzi, and sauna.

Glaser and business partner Nelson Gonzalez have condemned the house stating that it sits 3 feet under sea level, has water damage as well as sitting water under the home.

The home is currently on the docket for the Miami Historic Preservation Committee’s historic designation for the September agenda. According to Glaser, he stated that this will not stop their plans for building the new mansion and beginning demolition of Capone’s former home.

The property with the spec home is currently listed for sale at $16.95 million. The modern mansion will be designed by Kodi Karp.

Anheuser Busch Executive Pays Record Price for Waterfront Home in Bay Harbor Islands

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.

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.

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.