Flagg Family Capital, in partnership with Carolwood LP, has officially listed its newly rebuilt Mediterranean villa on North Bay Road for $10 million with Jordan Karp LLC, marking one of the most compelling non-waterfront offerings to hit Miami Beach this season. The home, developed by Josh Flagg who has starred on Bravo’s Million Dollar Listing Los Angeles, and redesigned by BuiltIN Studio / Gary Eisner, sits directly across from David and Victoria Beckham’s $72.5 million bayfront compound—placing it in one of the corridor’s most exclusive pockets.
The 4,000-square-foot residence is positioned on a lush 10,000-square-foot lot with a gated entry and resort-style grounds. Inside, vaulted ceilings, new custom wood flooring, bespoke millwork, and a restored limestone fireplace create a warm modern Mediterranean aesthetic. The kitchen features white oak cabinetry, SubZero appliances, and Waterworks fixtures, while the bathrooms showcase travertine accents and custom detailing throughout. A detached pool house functions as a private wellness retreat with a sauna, cold plunge, outdoor shower, and powder room.
Flagg has been clear that the timing of the listing aligns with shifting political sentiment in New York, which he says accelerated his decision to bring the home to market through broker Jordan Karp of Jordan Karp LLC.
“The minute New York elected Mandahmi, I called my broker Jordan Karp,” Flagg says. “I didn’t even wait for the acceptance speech.” Since going live for $10 million, the listing has already generated immediate attention from local, domestic, and international buyers—mirroring a larger post-election migration pattern toward tax-friendly, lifestyle-driven markets like Miami and Palm Beach.
North Bay Road itself remains one of the country’s most prestigious residential streets, home to a roster of global entrepreneurs, investors, entertainers, and legacy families. With multiple recent trades above $70 million—and several pushing past the $100 million mark—the corridor has become synonymous with scarcity, exclusivity, and record-setting land values. Inventory is minimal, and any newly finished product tends to move quickly. Flagg and Carolwood LP's property, headed by Adam Rubin and Andrew Shanfeld, is located across the street from David Beckham's $72.5 million compound on Biscayne Bay.
Flagg describes the home as “essentially brand-new,” with every system, finish, and layout refined during the renovation. Though he maintains a significant real-estate footprint in both Los Angeles and New York, he views this Miami project as part of a broader strategy to position capital in markets with strong momentum. The ongoing influx of Northeastern wealth, alongside interest from London, California, and Europe, has only reinforced that conviction.
“But let me be clear, I love New York. It’s home half the month. I spend two weeks there and two weeks in L.A., and I still own plenty of real estate between Manhattan and Long Island. I’m not changing anything in New York, I’m just taking advantage of what’s happening in Miami. It’s called business.” Said Flagg.
With the listing now active with Jordan Karp LLC, the property adds another high-profile chapter to North Bay Road’s ongoing luxury surge. And while Flagg developed the residence as an investment rather than a personal residence, he hints that Miami remains firmly on his radar.
“Florida’s fine, it’s not going anywhere,” said Flagg. “Once the noise dies down, I’ll probably just buy everything back again. I invest where it’s the right place at the right time. The only things I’m emotionally attached to are Los Angeles, New York, and zoning laws… and Florida’s been on a waitlist for all three since the 1980s.”
Images via Binyan Studio and Jordan Karp LLC