A waterfront mansion located 2120 Bay Ave. on Miami Beach’s Sunset Islands has sold for $34 million in an off-market deal. The sale price equates to roughly $5,300 PSF for the 6,400 SF home. The transaction was brokered by Scott Lawrence Porter of ALTARA Properties and Nile Lundgren of SERHANT. The home sold last year for $18 million in an off-market deal that was also brokered by Scott Lawrence Porter.
2120 Bay Ave. was built in 1957 and is located on a 28,454 SF lot on Sunset Island IV. The recently remodeled residence spans 6,400 SF and features 5 bedrooms and 5.5 bathrooms. Outside the home offers 210’ of water frontage, as well as a pool, summer kitchen and dock.
ALTARA Properties is a full service real estate company led by Managing Broker Demetri Demascus, who is also co-founder of PROFILEmiami. ALTARA Properties offers both residential and commercial brokerage and marketing services across South Florida with in-house PR, branding and marketing offered to all agents. ALTARA Properties has over $40 million in closed transactions since launching in early 2022.
SERHANT is a New York-based brokerage led by Ryan Serhant who was featured on the hit TV show Million Dollar Listing. SERHANT is one of the most followed real estate brands in the world and is working to revolutionize the brokerage model through media and content creation. SERHANT offers agents a full-service in-house film studio with in-house production and branding teams.
The Sunset Islands, a set of four luxurious residential islands located just off of South Beach next to Sunset Harbour, has been a hotspot for luxury development and transactions. In February 1775 West 24th St. sold in an off market deal for $11.5 million, roughly $3,546 PSF. Recently Andian Development acquired 1415 North View Drive for $13.9 million with plans to renovate the home. In December Shlomy Alexander, Felix Cohen and Julian Cohen sold a spec home they developed at 1825 West 24th Street for a Sunset Island record $25 million, $3,811 PSF. Developer James Curnin sold a spec home at 1757 West 27th Street for $24.8 million to former Goldman Sachs exec Don Mullen and Kawa Capital Management co-founder Alexandre Saverin and his wife sold their home at 1617 West 22nd Street on Sunset Island IV for $13 million.