Out With The Old In With The New

Out With The Old In With The New

A Look At The Biggest Residential Deals Of 2015

Based on the Real Deal, spec homes, mega-mansions, and vacant land has marked a banner year for residential sales in Miami, with big houses trading between even bigger names, from January all the way to December.  The Real Deal compiled a list of Miami-Dade County’s biggest home and condo sales using archived stories and MLS data. The five properties that topped the list ranged from $23 million to $60 million and were located in South Florida’s meccas for glamorous houses: Miami Beach, Indian Creek Village and Key Biscayne. Faena District Faena District1. 


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1. Faena Penthouse Miami Beach $60M - 3315 Collins Avenue, Miami Beach, Florida

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Hedge funder behind $60M Faena penthouse Billionaire hedge fund manager Kenneth Griffin paid $60 million for two penthouse units at the newly completed Faena House in Miami Beach, blowing past all records for residential sales in Miami-Dade County.The massive 12,500-square-foot unit in Miami Beach was purchased in September. Griffin had the penthouse under contract for over a year, and he paid $10 million more than its asking price. The Faena sale exceeded Miami’s record price for a condo unit, which was set by a $27.5 million unit in Miami Beach’s Continuum in December 2014. It also beat the record price for a single-family home that previously belonged to the $47 million sale of 3 Indian Creek Island Road. Griffin, the CEO of investment company Citadel, has reportedly dropped just less than $300 million on properties in Chicago, New York and Miami Beach over the last two years. 

The 12,516-square-foot penthouse at ultra-luxury condo Faena House in Miami Beach is officially off the market. The eight-bedroom penthouse, which also features 9,900 square feet of outdoor space, closed this week for $60 million, or $4,794 per square foot, according to Faena’s representatives. That’s a new sales record for Miami residential real estate. Faena House was designed by Pritzker Architecture Prize-winning firm Foster + Partners.

Argentine developer Alana Faena built the 18-story tower, 3301 Collins Ave., Miami Beach, as part of an arts-centered district that will include a hotel, two additional luxury condo towers, and a cultural and retail complex designed by architect Rem Koolhaas. Ukrainian-born businessman Len Blavatnik is a partner in the venture.

The Faena House penthouse has nine bathrooms, a 70-foot-long rooftop pool and a wrap-around terrace with views of the Atlantic Ocean, Indian Creek and the downtown Miami skyline. The 42-unit building also offers all the amenities ultra-rich buyers demand in Miami: an in-house spa and fitness center, a private club, concierge service and a round-the-clock doorman. It was originally listed for $50 million.


Image title***  Faena House in Miami Beach   

5800 North Bay Road and Phil Collins, Faena House and Ken Griffin, and 17 Indian Creek 



2. Key Biscayne estate sells for record $47M  -  775 South Mashta Drive, Key Biscayne, Florida

 The former estate of one of Key Biscayne’s founding family members sold for $47 million to an undisclosed buyer, marking the most expensive sale ever on the island and tying the record for single-family home sales in Miami-Dade County. The 11,600-square-foot mansion, at 775 South Mashta Drive, was listed for a then-record $60 million in 2014.  The waterfront five-story estate spans 2 acres and includes 2,000 feet of water frontage. It features 360-degree views, a pool and gazebo area, and a private deep water yacht harbor.The property was the “playground of America’s elite at the turn of the century.” William J. Matheson built the original home, known as Mashta House, in 1917. 



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Image title                                                                    775 South Mashta Drive, Key Biscayne, Florida





3. Phil Collins picks up J. Lo’s former Miami Beach Mansion for $33M - 5800 North Bay Road, Miami Beach, Florida

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Singer-songwriter Phil Collins is the new owner of Jennifer Lopez’s former North Bay Road mansion, paying a whopping $33 million for the property in June. Healthcare executive Mark Gainor and his wife were the sellers of the waterfront Miami Beach estate at 5800 North Bay Road. Lopez initially sold the 1.2-acre property in 2005 to Gainor for $13.9 million. The 12,153-square-foot mansion includes seven bedrooms, eight full baths, three half-baths, a pool and Jacuzzi. It was built in 1929 and features 200 feet of Biscayne Bay frontage. 





Image title                        5800 North Bay Road, Miami Beach, Florida





4. $30M Indian Creek mansion - 17 Indian Creek Drive

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Buyer of $30M Indian Creek mansion revealed as former US Airways CEO Rakesh Gangwal, a former CEO of U.S. Airways, purchased a Miami Beach mansion for $30 million in February.Financier Charles Johnson sold the 16,393-square-foot home at 17 Indian Creek Island Road to Rakesh and Shobha Gangwal, Miami-Dade County records show. Gangwal, co-founder of IndiGo, an Indian budget airline, was CEO of U.S. Airways from 1991 to 1998.He also led Worldspan Technologies, a travel technology and information services company as its CEO from 2003 to 2007.  17 Indian Creek Island Road is 16,393-square-foot waterfront estate sits on an 80,000-square-foot lot and has five bedrooms, five baths and three half-baths.  Residence as of 2012 Indian Creek include  Victoria's Secret model Adriana Lima, Spanish singer Julio Iglesias, his son Enrique Iglesias, Robert Diener, co-founder of Hotels.com, Edward Lampart, hedge fund billionaire, Don Shula, retired football coach, Charles Bartlett Johnson, mutual fund billionaire, billionaire investor Carl Icahn and former Philadelphia Eagles owner and billionaire art collector Norman Braman. Other famous residents both past and present have included Beyoncé and Jay-Z, pro golfer Raymond Floyd, coach Rick Pitino, U.S. Senator George Smathers, Sheik Mohammed al Fassi, television host Don Francisco, co-founder of Calvin Klein, Coal and Oil Executive, Barry Schwartz, radio magnate Raul Alarcon, coal and oil executive, heiress and philanthropistSuzie Linden, Arthur I. Appleton, President of Appleton Electric Company and founder of the Appleton Museum of Art and Bridlewood Farm, and his wife Martha O'Driscoll a former Hollywood actress.



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Image title                           17 Indian Creek Drive, Indian Creek Village, Florida 



5. Hotels.com founder sells lot on Indian Creek for $25.7M -  9 Indian Creek Drive, Miami Beach, Florida 

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Hotels.com founder Robert Diener and his wife Michelle Diener sold the lot at 9 Indian Creek Drive in March. The Dieners sold the 1.8-acre property to Vladimir Krasavtsev for $25.69 million, or about $321 per square foot. That marks a new record for vacant land on Indian Creek Island.Before that, Barry Schwartz, the co-founder and chairman of Calvin Klein, sold the lot for $19.2 million in 2012. Robert Diener is also president and co-founder of travel website www.getaroom.com






Image title                        9 Indian Creek Drive, Miami Beach, Florida 













Sherone Noyman Headshot
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Phone: 917-407-3682
Dated: January 2nd 2016
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