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Miami real estate news
In a dazzling showcase of South Florida's luxury real estate market, recent transactions have spanned from Miami to Palm Beach, featuring sales ranging from $8.7 million to $14.5 million. These high-profile deals have involved a diverse group of buyers and sellers, including CEOs, a former general counsel to the U.S. Navy, a liquor distribution heir, and a developer, highlighting the area's continued draw for affluent individuals.
Miami's High-End Real Estate Moves
In Miami, the real estate scene has been bustling with significant sales. Frank Jimenez, an attorney with an impressive background as general counsel for GE HealthCare and previous roles with Raytheon Technologies and the U.S. Navy, sold his waterfront property for $9 million in an off-market deal. The house, located at 3523 North Bay Homes Drive, was purchased in 2021 for $4.5 million, showcasing a lucrative return on investment. This 4,400-square-foot residence, renovated in 2015, features three bedrooms and three bathrooms, epitomizing the luxury lifestyle Miami offers.
Adding to Miami's luxury real estate narrative, Bausch + Lomb CEO Brent Saunders sold his waterfront Venetian Islands home for $14 million to New York-based investor Murat Bugdaycay. Saunders, who recently acquired Cher's former La Gorce Island mansion, had purchased the Venetian Islands property in 2019 for $10.8 million. The sale of this 6,700-square-foot home, initially listed for $19.5 million, underscores the high demand for prime waterfront properties in Miami.
Miami Beach and Beyond
The allure of Miami Beach's real estate was highlighted by the purchase of a non-waterfront Sunset Islands home by liquor distribution heir David Chaplin and his wife, Ashley Radler Chaplin, for $9 million. The Chaplins, associated with the family-owned Southern Glazer’s Wine & Spirits, continue to demonstrate the appeal of Miami Beach to industry leaders and their families.
Ocean Ridge's Oceanfront Sale
Ocean Ridge saw a notable transaction with the sale of an oceanfront home by pharmaceuticals executive David Epstein for $14.5 million. Epstein, CEO of the recently Pfizer-acquired biotech firm Seagen, sold the property to Cote Land Trust. The home, bought in 2021 for $9 million, underwent a complete renovation in 2019, featuring five bedrooms, six bathrooms, and a guest house, highlighting the premium on renovated oceanfront properties.
Palm Beach's Developer Sale
In Palm Beach, developer Neil Kozokoff sold a non-waterfront house for $8.7 million, more than doubling the value since its purchase in 2019 for $3.9 million. This transaction underscores the significant appreciation in Palm Beach's real estate market, attracting developers and investors alike.
The Role of Prestige Realty Group
These transactions underscore the expertise of Prestige Realty Group, led by Tony Rodriguez-Tellaheche, in representing high-profile clients discreetly and professionally. Tony's ability to navigate the complexities of luxury real estate, ensuring privacy and maximizing investment returns, makes Prestige Realty Group a go-to for celebrities and industry leaders looking to buy or sell in South Florida's competitive market.
The Miami real estate market continues to prove itself as an extremely profitable investment destination globally, attracting a diverse array of high-profile individuals.
For those interested in exploring the opportunities within this vibrant market, text me with any questions you have.