Barneys-Branded North Bay Road Estate Designed By Kobi Karp Sells For $40 Million In Off-Market Sale

A Barneys-branded waterfront residence designed by Kobi Karp on North Bay Road has sold for $40 Million in an off market deal. The seller and developer of the Barneys-branded estate is the Salter family which heads up brand-management company Authentic Brands Group, behind names like Reebok, Juicy Couture and David Beckham. Cyril Matz of Douglas Elliman represented the seller. The buyer, per public record, is consumer goods multimillionaire Anand Khubani, founder and CEO of Ideavillage Products, who made South Florida real estate headlines last year for a $100 million purchase of a La Gorce Island assemblage. The buyer worked with Evan Weiss of 305 Degrees Realty.

The custom home is a stunning showcase of Authentic Luxury Group’s yet-to-be-revealed Barneys New York Home Collection that will launch later this year. With interiors by Slim Keskes, creative director of Barneys Home, the masterfully curated waterfront residence features architecture by Kobi Karp and is nestled on a 30,800 SF lot with 100 feet of water frontage.

“This property was built as a custom home, not a spec home, so the materials and finishes were done at the highest possible level. They did not cut any corners,” said Cyril Matz of Douglas Elliman, who represented the seller. “Inventory is extremely limited on North Bay Road and this was the only home available of this caliber that was brand new construction, turnkey and had never been lived in. North Bay Road is one of the most in-demand addresses in Miami Beach because of its location, large estate size properties, incredible waterfront views and the high-profile neighbors.”

Showcasing 14,520 SF of interiors, the home features 6 bedrooms plus 2 staff rooms, a home office, movie theatre, full wellness center equipped with spa, sauna, steam, cold plunge and hot bath, a wine room, game room and rooftop accessible by elevator. The expansive outdoor areas feature 2 pools, one facing the water and another one facing east on the second floor. The home was fully finished with the highest quality materials and design, and sold completely furnished and accessorized.

Images via Kobi Karp for exteriors / Slim Keskes for interiors

Barneys New York To Open First Florida Location As Anchor At Bal Harbour Shops $400 Million Expansion

Barneys New York has announced that they will open their first Florida location as one of the anchor tenants at Bal Harbour Shops $400 million, 350,000 SF expansion. The location will span 53,000 SF and will include the popular Freds at Barneys New York restaurant. Freds at Barneys New York will feature outdoor seating and will serve European-inspired and contemporary American cuisine with a custom menu using locally-sourced ingredients by Executive Chef Mark Strausman. Barneys New York and Freds at Barneys New York is expected to open in 2023.

“No fewer than three generations of my family have worked in one capacity or another for nearly four decades to make this happen, so we could not be any happier if we tried about Barneys New York finally coming to Bal Harbour. Theirs has always been a unique and compelling perspective on fashion and on luxury – and through Freds, on food, too – and we know their point of view will resonate with our customer. We are proud and humbled to welcome Barneys New York into the Bal Harbour Shops family,” Matthew Whitman Lazenby, third generation leader of Bal Harbour Shops and President and Chief Executive Officer of Whitman Family Development, LLC.

“It’s a milestone for Barneys New York to launch our first location in Florida at
Bal Harbour Shops, which attracts the best clients from around the globe, who mirror today’s Barneys clients,” said Daniella Vitale, CEO & President, Barneys New York. “We’re excited for Bal Harbour shoppers to experience Barneys New York’s renowned approach to creating environments with exclusive, rare and highly-edited products coupled with luxury services, food, and digital experiences.”

Saks Fifth Avenue is Considering Leaving Bal Harbour Shops Amid Approved Expansion Plan

Saks Fifth Avenue considering leaving Bal Harbour Shops after a recently approved expansion plan. The plan calls for $400 million of work including 430,387 SF of new retail space with a new flagship anchor location which is expected to become a Barneys New York. The existing Neiman Marcus location will also expand. The expansion plan is being designed by Zyscovich Architects and Whitman Family Development hopes to break ground by the end of 2017 with an expected completion in 2023. Saks Fifth Avenue's opposition to the plan comes amid the developer, Whitman Family Development's, lack of attention and possible expansion that was offered to the Saks location. Saks Fifth Avenue would also lose parking and be forced to rely on valet for customers.  Whitman Family Development also owns a minority stake in Brickell City Centre, where Saks Fifth Avenue also just opened up a flagship location.