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HOT PROPERTY: SOUTH FLORIDA
Hip-hop producer buys Miami Beach house
Hot Property: South Florida spotlights selected luxury home sales in Miami-Dade, Broward and Palm Beach counties.
A Greco-Roman style home at 70 Palm Ave. in Miami Beach has sold for $10.5 million, or $473 per square foot. It had a listing price of $13.9 million at the time of the sale. The house, built in 2004, has 11 bedrooms and 13 bathrooms in 22,205 square feet of living area. Included in this count are two guesthouses with two bedrooms and two bathrooms each. The lot is 30,000 square feet and has 100 feet of water frontage.
The seller was APR Palm Partners, a Florida general partnership. The new owner is Scott Storch, a hip-hop producer for such artists as Justin Timberlake and G-Unit, and a keyboardist. Carlos Justo of Sol Sotheby's International Realty brokered the deal. The property was on the market for 10 months.
CORAL GABLES HOUSE
HAS TWO DOCKS
Jose C. Lorenzo and his wife Esther bought a Coral Gables estate for $3.55 million, or $568 per square foot. The original listing price was $4.25 million, which was later changed to $3.99 million. The home, built in 1992, is at 11035 Marin St. in the Hammock Oaks Harbor subdivision and has five bedrooms and 6 ½ bathrooms in 6,245 square feet.
The Italian-style house sits on a 39,642-square-foot lot. Although it is not directly on the water, the property includes two docks, which are walking distance from the main property. The sellers were Michael Criden, a director of the company Smartvideo, and his wife Michele. The property was previously purchased for $1 million in April 1995. Toni Schrager of Avatar Real Estate Services was the listing agent. The property was on the market around six months.
HOME IN STONEGATE
SELLS FOR $3.4 MILLION
A luxury home at 4941 SW 75 Ln. in the Stonegate subdivision of Miami-Dade, has sold for $3.4 million or $513 per square foot. The property was originally listed for $3.95 million, which was changed to $3.695 million later. The residence, built in 1999, has seven bedrooms and 8 ½ bathrooms in 6,624 square feet. The lot size is 32,539 square feet.
The sellers were Luis Delgado and his wife, Esther. The buyers were Pascal J. Goldschmidt and his wife, Emily. Pascal, a cardiologist, is the senior vice president for medical affairs and dean of the University of Miami Leonard M. Miller School of Medicine. Toni Schrager of Avatar Real Estate Services was the listing broker. The property was on the market almost nine months.
HOUSE BUILT IN '04
WAS NEVER LIVED IN
Nurmi/Benchmark II LLC, whose principals include Karell Locay and Alex Locay, has sold a house at 26 Nurmi Dr. in Fort Lauderdale. The original list price was $3.85 million, which was later lowered to $3.495 million. The house sold for $3.25 million, or $526 per square foot. The residence was built in 2004 but was sold as new since it was vacant. It has five bedrooms and 5 ½ bathrooms on 6,175 square feet of living area. The lot, in the Las Olas Isles subdivision, has 100 feet of water frontage.
The new owner is James Zaguroli Jr., as trustee of the James Zaguroli Jr. Living Trust. Previous sales of the property include one in August 2002 as land only for $1.25 million and another in August 1994 for $475,000. Sandra Tagliamonte of Galleria Collection was the listing agent. The property was on the market almost nine months.
HOUSE ON THE WATER
SELLS FOR $3 MILLION
Ganpat Patel and his wife, Gita, have bought a Fort Lauderdale home at 9 Pelican Dr. for $3.174 million, or $441 per square foot, as stated in public records (MLS states the home was sold for $3.625 million, which was the listing price).
The two-story home was built in 2004 and has six bedrooms and 6 ½ bathrooms in 7,205 square feet. The lot has 100 feet of water frontage.
The sellers were Ronald A. Spata and Elite Electric Co., an Illinois corporation. Previous sales for the property in the Seven Isles subdivision include one in December 2004 for $3.4 million and another in October 2000 as land only for $800,000. Joy Triglia of Intercoastal Realty was the agent. The property was on the market a few days.
PALM BEACH HOUSE
SLATED FOR DEMOLITION
A home at 324 Cherry Ln. in Palm Beach has sold for $11.7 million, or $2,852 per square foot. The home, built in 1955, is to be demolished. It currently has 4,102 square feet of living area. The property has 100 feet of water frontage on a lot of 0.7 acre.
The buyer was Cheryl Minikes of New York City. She is the wife of Michael Minikes, treasurer of Bear Stearns. The sellers were Keith Beaty and his wife Linda. Beaty is one of the founders of Implant Innovations, a manufacturer of dental implants.
Source: Information researched and summarized by the Dabby Group, a real estate market research, brokerage and consulting firm in Coral Gables. This group can be reached at email@example.com.