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.

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.

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.

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.

Waterfront Mansion Purchased by Miami Beach Investor at $21 Million – Lists the Property for $30 Million

Andrew Mirmelli, the owner of M&M Parking Management services and Investor, is now betting on the hot real estate market. With the recent purchase of a waterfront home on Hibiscus Island at $21 million, Mirmelli just relisted the property for a cool $30 million just a few days after closing.

The luxury waterfront property shows the previous owner as Sweet Gift LLC, a company owned by Abelardo Monroy. The home located at 432 South Hibiscus Drive features 6,090 square feet of living space, 5 bedrooms, 7 bathrooms, and a 3 car garage.

The property was built in 2001 on just under half an acre. The design of the home showcases a Mediterranean style throughout with neutral colors easily flowing from one room to the next. Expansive windows and tall ceilings provide endless natural light and views that can only be found on Hibiscus Island. The property also includes a custom pool, outdoor kitchen, and private boat dock with a lift.

Hisbiscus Island not only features unique luxury estates, but also offers gorgeous waterfront views, 24-hour security, and a family-oriented community center/park. Boating is a prime hobby on Hibiscus Island. With a lack of fixed bridges, boats of many sizes gain access to private boat docks throughout the island. This island is also close to South Beach and downtown Miami, making it a prime location to enjoy all that Miami offers.

This luxurious estate was previously sold in 2013 at $8 million. The owner has also listed it for rent at $130,000 monthly. Mirmelli recently sold a lot in downtown Miami to developer Moishe Mana. Mana paid $12.4 million for the lot which he plans to build a mixed-use development for offices, residences, and hotels.

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.

Related Group CEO Lists Coconut Grove Mansion for $33 Million

Related Group’s CEO Jorge Pérez, also known as the “Condo King,” recently listed his Miami home for $33 million. Located in Coconut Grove at 3323 Devon Court in Huges Cove, a gated community south of downtown Miami. Huges Cove features a total of 10 homes, each with custom architecture overlooking Biscayne Bay.

The Venetian-style mansion is sited on 0.92 acres with over 8,000 square feet of living space. With 6 bedrooms and 7 bathrooms, this unique home was built in 1996 as the family home of Pérez. The Venetian style is evident throughout with its beige travertine floors, light, and airy feel throughout, as well as classic touches of Italian artistry.

The property is truly a dream with resort amenities, including an infinity pool, spa, and gardens all on 482 feet of water frontage. The property also features exclusive water rights, a boat dock, and incredible views of Biscayne Bay.

According to tax records, Pérez originally purchased the home for $1.45 million in 1994. More recently, Pérez has sold his Apogee Beach penthouse for $6 million as well as the Related Group sold their Miami headquarters for $24 million.

The Related Group is a development company that started in Miami in 1979. Over the years, they have built iconic towers that have enhanced the Miami skyline. Related has built and managed over 100,000 condo towers. Their current projects include; They are currently working on 1400 Biscayne, District 225, and Baccarat Residences Miami.

If you or someone you know have an interest in purchasing any of the Related Group units, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.

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.