Sabal Development Sells Contemporary Coconut Grove Estate For $22.5 Million

Sabal Development, the Miami-based luxury residential developer, has sold a custom contemporary estate at 4040 Kiaora St. in Miami’s historic Coconut Grove neighborhood for $22.5 million. The residence was designed and built by the firm’s construction arm, Sabal Luxury Builder. Lourdes Alatriste served as the listing agent for the sale.

The masterfully crafted residence features six bedrooms and eight bathrooms across 8,833 square feet of livable space, totaling 9,503 square feet under roof. Designed to offer a profound sense of spaciousness and elegance, the home is defined by its soaring ceilings and light-filled interiors that effortlessly establish a luxury lifestyle experience.

“Our vision for 4040 Kiaora Street was to create a modern sanctuary that balances high-end architectural design with the natural beauty of the Coconut Grove canopy,” said Pascal Nicolai, founder and CEO of Sabal Development and Sabal Luxury Builder. “Because we develop, design, and build under one roof, every decision — from the structural envelope to the last interior finish — was made by the same team, with the same standard. The result is a complete lifestyle experience, combining expansive entertainment spaces with private wellness amenities.”

The interiors were conceived by Vitaliya Alkhovik, founder of Interiors.Vita and Executive Director of Interior Design for the Sabal organization, who led the interior architecture, finishes, and furnishing of the estate. Her design layers warm natural materials, custom millwork, and gallery-scale volumes to bring the Grove’s tropical light into every room.

“The house sits inside a mature canopy, so the interiors had to feel like a continuation of the landscape rather than a contrast to it,” said Alkhovik. “We worked with organic textures, soft mineral palettes, and generous proportions so the architecture, the greenery, and the daily life of the home read as one continuous experience.”

The heart of the estate is its seamless transition from the indoor living areas to an expansive outdoor oasis, making it a premier destination for upscale entertaining. The resort-style exterior is anchored by a tropical heated pool and spa, framed by a backdrop of mature, lush greenery. For outdoor dining and hosting, the property features both a covered summer kitchen and a dedicated outdoor kitchen cabana.

Inside, the home delivers an array of premium, lifestyle-driven amenities that cater to modern luxury demands. Health and wellness are prioritized with a private, fully equipped home gym, while indoor leisure is elevated by a custom-designed movie theater. The property also features a detached private guest house, providing versatile, high-end accommodations for visitors.

Founded in 2009 by Pascal Nicolai, Sabal Development is a Miami-based firm specializing in ground-up luxury residential development across Miami-Dade, Broward, and Palm Beach counties. It operates in full vertical integration with its construction arm, Sabal Luxury Builder, delivering bespoke, ultra-luxury residences from land acquisition through design, construction, and final furnishing. Known for exceptional quality and principal-led oversight of every project, the Sabal organization builds from Miami and Coconut Grove to Fort Lauderdale, Boca Raton, and Palm Beach.

Past PROFILEmiami articles about luxury homes and spec homes:

Inside The 2nd Annual PROFILEmiami Spec Home & Ultra Luxury Real Estate Summit 2025

The 2nd Annual PROFILEmiami Spec Home & Ultra-Luxury Real Estate Summit, held last week at the state-of-the-art Lighting Loft in Midtown Miami in partnership with LUC Electric and Tidelli, was a resounding success—bringing together more than 150 of South Florida’s most influential developers, financiers, brokers, architects, designers, and luxury service providers for an evening defined by insight, connection, and elevated dialogue.

Guests consistently praised the exceptionally high caliber of attendees, noting the Summit’s unique ability to foster meaningful, long-term business relationships across every facet of the ultra-luxury and spec home ecosystem. With representation spanning Miami, Fort Lauderdale, and Palm Beach, the event reinforced PROFILEmiami’s position as a leading platform for convening the decision-makers shaping South Florida’s most prestigious residential market.

The evening featured two powerhouse panels that explored both the creative and commercial forces driving today’s ultra-luxury homes. The Design & Development Panel placed a strong emphasis on wellness-driven living, advanced smart home technology, and privacy-focused design, underscoring how health, performance, security, and discretion have become non-negotiable pillars of high-end residential demand. Panelists discussed everything from clean-air and wellness systems to lighting, automation, and security solutions that enhance both lifestyle and long-term value.

The State of the Market Panel delivered a forward-looking perspective on the region’s luxury real estate landscape, with speakers expressing clear optimism in the continued growth and resilience of South Florida’s market. Panelists cited sustained buyer demand, demographic and wealth migration trends, and the region’s expanding global appeal as key drivers supporting the ongoing strength of the spec home and ultra-luxury sector.

Insights were shared by some of the industry’s most respected voices, including top-producing brokers Jordan Karp of JK Real Estate and Lourdes Alatriste of Douglas Elliman—both ranked among Miami’s Top 20 producers by sales volume in 2025—alongside architect Ralph Choeff of Choeff Levy Fischman; spec home financier Zack Simkins of Vaster Capital; developers Pascal Nicolai of Sabal Development, Jose Boschetti Jr. of Boschetti Group, and Kirk Ivy of IVEY Punch / IVEY Design Build; developer and interior designer Kathy Samaan of Samaan Design Group; and smart home leader Ross Samanchuk of LUC Electric. Together, the panelists offered candid insights into pricing dynamics, development strategy, design evolution, and what defines success at the highest end of the market.

Complementing the panels, the Ultra-Luxury Real Estate Showcase brought together the top brands and service providers powering South Florida’s most exceptional homes, allowing attendees to experience firsthand the craftsmanship, innovation, and technology behind today’s premier residential projects. The evening featured PROFILEmiami’s signature cocktail networking soirée powered by Cala Bennati wine, creating an environment intentionally designed for high-level, bespoke networking. The event was followed by a private VIP Dinner for the panelists hosted at the Tidelli Outdoor Living Miami furniture showroom by Tidelli Miami and LUC Electric.

The 2nd Annual Summit builds on PROFILEmiami’s legacy of hosting industry-leading real estate events that combine education, insight, and curated connection. As South Florida’s ultra-luxury market continues to evolve, the Spec Home & Ultra-Luxury Real Estate Summit remains a defining forum for the leaders shaping the region’s most remarkable homes—celebrating the artistry, ambition, and collaboration that drive the market forward.

Please check out our sponsors LUC Electric for smart home and lighting design, Tidelli Outdoor Living furniture, Vaster Capital mortgages and lending, Ero Lighting lighting design, Samaan Design Group interior design, IVY Punch for buyer inspection and punch list expertise, The Lighting Loft lighting showroom, Modern Stones marble and stone, CPS Outdoors pool systems and Cala Bennati Wines.

VIP Dinner at Tidelli Miami

For more information about upcoming PROFILEmiami Events please check out our events page here or fill out the form below:

Sabal Development Unveils Ultra-Luxe $75 Million ‘Villa Tropezina’ Estate on Manalapan’s Billionaire’s Beach

Sabal Development has revealed their newly listed "Villa Tropezina," a spectacular new-construction, dual-waterfront estate located at 3050 S Ocean Boulevard in the exclusive Manalapan, Florida, enclave known as Billionaire’s Beach. Masterfully developed by Sabal Development and expertly crafted by Sabal Luxury Builders under the direction of Pascal Nicolai, the three-story house is priced at $75,000,000.

Pascal Liguori and Carmen D’Angelo of Premier Estate Properties are the listing agents.

Slated for completion in the Spring of 2026, the magnificent residence offers 6 bedrooms, 10 bathrooms, and a total interior livable area of 15,832 square feet, set on a sprawling 1.33-acre lot. Designed by Togu Design, Villa Tropezina sits on a walled and gated property that extends from a private, pristine Atlantic Ocean beach to a secluded Intracoastal inlet, providing 70 feet of private frontage on both waterways. The owner will have access to an exclusive cabana beach through a tunnel, providing immense privacy.

“Villa Tropezina is the culmination of Sabal’s commitment to extraordinary design and impeccable craftsmanship, set within the incomparable exclusivity of Manalapan’s Billionaire’s Beach.” Said Pascal Nicolai, CEO of Sabal Development and Sabal Luxury Builder. “Our vision was to create an 'Organic Modern Jewel' that not only offers an ultimate luxury lifestyle with resort-style amenities, but that also achieves a rare, zen-like serenity by seamlessly blending the beauty of the Atlantic Ocean and the Intracoastal with cutting-edge modern architecture.”

The home embodies a zen-like serenity, seamlessly blending creamy natural tones and organic wood treatments with cutting-edge modern design, blurring the lines between indoor and outdoor living. The ultimate luxury lifestyle is achieved through its world-class amenities and resort-style features, including unobstructed ocean and Intracoastal views from floor-to-ceiling glass sliders and glass-railed terraces. The house will be fully furnished by Roche Bobois and decorated to show its full potential. The décor is not included in the homes listing price.

Premier amenities include:

• Dual Waterfront Features: A full-service Intracoastal boat dock and a private approach to an exclusive Atlantic Ocean beach, complete with a beach-side cabana featuring a game room/lounge.

• Entertaining Oasis: A heated saline infinity-edge waterfront pool and spa, a fire pit, a grilling station, a private screening room with lounge seating and a built-in bar, and multiple tiered terraces.

• Wellness & Auto Salon: A dedicated wellness center with a gym, sauna, and spa bath, and an impressive 8-10 car auto salon.

• Palatial Suites: A secluded primary suite offering a morning bar, lavish spa bath, dual fitted boutique walk-in closets, and a large covered terrace overlooking the Intracoastal. The home also includes a VIP oceanfront guest suite and three additional guest suites.

Constructed with concrete throughout, the residence is a secure oasis, featuring impact windows and doors, a whole-house generator, multi-camera security, and Savant® smarthouse automation for fingertip control. Villa Tropezina offers a level of luxury and exclusivity rivaling the world's most sought-after destinations, all just minutes from world-class dining and shopping along Palm Beach’s iconic Worth Avenue.

Renderings via Sabal Development

For more information about Villa Tropezina, private showings or purchasing/ leasing information please fill out the form below:

Sabal Development led by Pascal Nicolai Closes on $20.6 Million Sale of Stunning Venetian Island Estate

Leading Miami-based luxury home developer Sabal Development & Sabal Luxury Builder, led by Pascal Nicolai, have sold their stunning new modern tropical waterfront estate they developed located at 1369 N Venetian Way for $20,625,000. The home, located on Miami’s ritzy Venetian Islands, was designed by Togu Design, built by Sabal Luxury Builder and listed by Dora Puig at Luxe Living Realty.

“We are extremely proud of our team and partners for bringing this enhanced living experience to the island,” said Pascal Nicolai, Founder and CEO of Sabal Development. “The open floorplan and floor-to-ceiling windows provide a luxury living space that is unmatched.”

The estate boasts 7,283 square feet of interior space situated on a sprawling 10,500 square foot lot with 60 feet of water frontage. It features four bedrooms, with the potential to convert to five or six, and five and a half bathrooms. Highlights of the property include two expansive rooftop terraces, an elevator servicing all three levels, a chefs eat-in kitchen with Miele appliances, and an oversized kitchen island. The outside entertaining area includes Ipe wood with an infinity-edge pool overlooking the bay.

This exceptional property, built by Sabal Luxury Builder, offers luxurious living and breathtaking waterfront views throughout. It features bleached oakwood floors, matte black accents, seamless indoor and outdoor living, and flexible interior architecture.

'This sale represents the continued strength of the luxury waterfront market in Miami Beach,” said Dora Puig. “The exceptional design and craftsmanship of this estate made it a truly unique offering on Venetian Island.”

Sabal Development has sold custom homes built by Sabal Luxury Builder with a total value of over $240 million. Nicolai has more than 30 years of experience with residential projects in the United States and Europe.

Images via Sabal Development

Sabal Development Closes On Waterfront Spec Home Lot In Boca Raton For $5.75 Million

Leading single-family-home and spec home developer Sabal Development, led by Pascal Nicolai, has closed on a land sale in the highly sought-after Sanctuary community of Boca Raton for $5.75 million. The Sanctuary of Boca Raton is a private community of custom luxury homes on the Intracoastal Waterway with homes recently listed for more than $30 million. The $5.75 million closing at 751 Tern Point Circle was overseen by Ari Albinder, who represented the seller, and Jeffery Cohen, who represented the buyer. Both are with The Keyes Company.

“In our opinion, this deepwater point lot is one of the best in the community, with great features that lend itself to building a beautiful home,” said Pascal Nicolai, founder and CEO of Sabal Development. “This property will compliment The Sanctuary community and develop a state-of-the-art home.”

The almost half-acre corner lot features 178 feet of seawall. Togu Design will handle the concept for Sabal Development, which has plans for a luxury modern home with multiple stunning views of the water; balcony access throughout the home; a large, covered patio; an infinity pool and a dock. The home will also have floor-to-ceiling glass windows and updated interior features. Sabal Development will enhance the outdoors with wood and greenery to accent the home.

This year, The Sanctuary of Boca Raton has boasted new construction home listings of $33.5 million and $32.5 million. The community's tremendous growth and development have facilitated the opportunity for new construction homes.

As a custom home builder, Sabal Development works to understand its clients' unique needs and lifestyles. Its construction company, Sabal Luxury Builder, collaborates with engineers, architects, and designers from the start to the finish of a project. Nicolai has over 30 years of experience with residential projects in the United States and Europe.

Inside PROFILE Collectors Club: Chronographs & Caviar at Sabal Development's $15 Million Brickell Penthouse

On March 12, 2024 PROFILEmiami and Sabal Development hosted PROFILE Collectors Club: Chronographs & Caviar, an invite-only sunset caviar tasting and watch showcase, revealing Sabal Developments newly completed $15 million Brickell Penthouse; in collaboration with leading luxury watch retailer Timepiece Trading and ArtLife, the first truly online bluechip art gallery.

The invite-only caviar tasting and sunset cocktail overlooking Biscayne Bay revealed Sabal Development’s 6,500 SF TOGU-designed Brickell Penthouse and featured a lavish caviar tasting by Altima Caviar; an exotic timepiece showcase featuring Richard Mille, Patek Philippe and Audemars Piguet curated by @NeelTPT of Timepiece Trading; and a bluechip art showcase featuring works by Jeff Koons, Andy Warhol, Banksy, Keith Haring, Kenny Scharf, Kaws, Alec Monopoly, curated by Avery Andon’s ArtLife.

Chronographs & Caviar was attended by leading real estate developers Pascal Nicolai, Lionel Nicolai and Dev Motwani, spec home architect Ralph Choeff, celebrity art dealer Avery Andon, watch specialist Sean McLaren, and real estate power brokers Dora Puig, David Rocca, Mike Martirena and Ivan Chorney; amongst others.

Where passion and opulence intersect. PROFILE Collectors Club is an ultra-luxury bespoke experience bringing together today's hottest brands and rarest collector's items with Miami's most active real estate and business professionals to connect and learn about their passions outside of a business setting.

Want to give Altima Caviar a try? Use discount code “Katya20” to save 20% off thru March 31 and 15% off April forward exclusively when shopping altimacaviar.com.

Sabal Development Reveals TOGU Designed Penthouse At Brickell House Asking $14.99 Million

Sabal Development has revealed a lavish newly designed penthouse which just hit the market asking $14.99 million, located at 1300 Brickell Bay Drive in the 46-story Brickell House Condominium. The modern, sophisticated property features breathtaking panoramic views of Brickell, Key Biscayne, and Miami Beach. The unit is overlooking Biscayne Bay, in the heart of Miami’s Financial District, just minutes away from the bustling downtown food and entertainment district. Lourdes Alatriste of Douglas Elliman is the listing agent. Sabal Luxury Builder is the contractor.

“We are extremely proud of our team's versatility and vision to produce a luxury listing such as this," said Pascal Nicolai, Founder and CEO of Sabal Development.

The 6,500-square-foot penthouse is on the 44th floor of the building and is equipped with 5 spacious bedrooms and 7 bathrooms. Once you enter, you are greeted with 20-foot ceilings and floor-to-ceiling sliding glass doors leading to an oversized balcony with beautiful views of both the city and Biscayne Bay. The chef's kitchen is open-concept and has subzero and Thermador appliances. The penthouse also has a wine cellar, theatre, personal gym, office space and is fully automated through the Savant System.

Completed in 2014, Brickell House is a 46-story luxury condominium with state-of-the-art amenities, including 2 swimming pools, rooftop pool-deck, sundeck, fitness center, spa, and sauna. The residence also features the world’s largest AGV automated robotic parking system, valet parking, concierge services, and two street-level restaurants, LPM Restaurant & Bar and Osaka Concina Nikkei.

Recognized by the Wall Street Journal as one of the Top Sales Agents worldwide, Lourdes Alatriste is a leader in the Miami premium real estate market.

Renowned for its passion and uncompromising attention to detail, TOGU Design earned its reputation for curating art and furniture at opulent hotels throughout France and Switzerland.

Sabal Development Sells Modern Oceanfront Spec Mansion in Highland Beach For $30 Million

Sabal Development, led by Pascal Nicolai, has sold an oceanfront spec home in Highland Beach known as La Plage Villa, for $30 million. The home was listed with Carmen D’Angelo and Joseph Liguori of Premier Estate Properties and Nadine Cory of City Real Estate Corporation represented the unnamed buyer. The transaction represents the most expensive home sale in Highland Beach in 2023.

Located at 4005 South Ocean Boulevard, La Plage Villa sits on a .6-acre lot and spans 9,000 SF spread over four levels encased in glass. The modern home offers 7 bedrooms and 12 bathrooms with ocean views from nearly every room, a gourmet kitchen, dining room overlooking the ocean, a 5-car garage and a roof top sky-deck. The tropical modern outdoors features an infinity pool, spa and 100’ of waterfront.

Led by Pascal Nicolai, Sabal Development built and sold total value of over $176 million in custom homes over the past 2 years. Sabal Development made a name for themselves as a vertically integrated developer and builder with over $130 million in luxury custom-built home sales in 2021.

Images via Sabal Development

PROFILE Exclusive: 12 Questions With Spec Home Specialist Pascal Nicolai of Sabal Development

PROFILEmiami had the exclusive opportunity to sit down with Pascal Nicolai of Sabal Development, one South Florida’s authorities when it comes to spec homes and custom home development, having built and sold total value of over $146 million in custom homes over the past 2 years. Sabal Development made a name for themselves as a vertically integrated developer and builder with over $130 million in luxury custom-built home sales in 2021.

Nicolai, who has more than 30 years of experience in the industry with completed projects in Europe and the U.S., Sabal Development is currently developing a modern office/ retail mixed use commercial building on Alton Road in Miami Beach and has developed a large portfolio of luxury properties including several homes on Palm Island and the Venetian Islands as well as Miami Beach and Palm Beach. PROFILEmiami recently caught up with Nicolai amidst his busy schedule and summer travel to get inside the mind of one of South Florida’s leading custom home specialists:

PROFILE: Tell us about your background, how did you get involved in real estate?

Pascal Nicolai (PN): I was born and raised in the South of France; real estate has been a passion of mine ever since I can remember. While I was studying at the university, I found myself engaging in real estate projects “on the side” so to speak, and by the time I was finished with my degree I already had my own real estate agency.

PROFILE: What was your first real estate development project?

PN: In France it was a 20,000 SF office building in the south of France. In Miami it was a luxury home location on the Venetian Islands

PROFILE: What is your development philosophy?

PN: In the simplest terms, it is location location location. That being said, acquiring prime lot locations and building luxury homes which surpass client expectations.

PROFILE: You have built a name for yourself as one of the biggest luxury homebuilders in Miami, how did you carve out this niche?

PN: I got in this niche with my partners with whom I developed high end real estate in prime locations such as Monaco, St. Tropez, and Courchevel. My goal was to bring my expertise to Miami and continue my vision.

PROFILE: Tell us about some of your favorite projects that you have built to date?

PN: That’s a tough one! Some of my favorite projects include:

1369 N. Venetian Way, Miami, FL. This beautiful 7,000 SF home is located on an open bay lot with spectacular views of Miami and Miami beach, featuring a glass elevator, modern European design, and a rooftop with a jacuzzi providing a perfect spot to watch the sunset.

4005 S. Ocean Blvd. Highland Beach, FL. This home is special to me because it is the first home I built directly on the beach. 10,000 SF, four stories high, featuring a theater, gym, glass elevator, and a rooftop with 360-degree views, also a perfect spot for sunrises and sunsets.

PROFILE: Tell us about some of the new projects that Sabal Development has in the pipeline?

PN: The projects in the pipeline which already started with the development process are:

• 14,000 SF home in Manalapan, FL (Palm Beach County)

• 10,000 SF home on a 32000 SF lot in Coconut Grove

• 6,500 SF penthouse in Brickell

• 6,500 SF home in La Gorce golf course

• Two waterfront homes on Belle Meade Island (Miami, FL)

PROFILE: What are some of the keys to your success that have helped you stand apart?

PN: European vision and design. Attention to detail (each home has at least 200pgs of design details), trust from partners, discipline, and process.

PROFILE: What is your outlook on the real estate market in Miami amid a changing economic environment and rising interest rates?

PN: In our niche market, the rate of interest isn’t as relevant because most buyers are cash buyers. Miami is one of the safest locations in the world, there are no state taxes, which is appealing to the luxury buyer.

PROFILE: What is the biggest hurdle that you have had to overcome in your career?

PN: Uncertainty during COVID, which ultimately led to a positive outcome. Managing construction and subcontractors, which is extremely challenging in south Florida.

PROFILE: What was the first gift you bought yourself after closing a big deal or first big development?

PN: A watch from Audemars Piguet

PROFILE: Describe your perfect Saturday night in Miami?

PN: Having a nice dinner, my favorite spots include Bagatelle, Casa Tua, Cipriani, Joia Beach, Mamo Brickell, Queen, Villa D’Azur, and drink at Mila lounge.

PROFILE: Where do we find you on your day off?

PN: It all depends on the mood, can be anywhere from relaxing by the water, spending time with family & friends, and working out.

Venetian Islands Waterfront Contemporary Spec Home 'Villa Marco' Hits Market For $23.9 Million

Villa Marco, a masterfully crafted waterfront residence developed by renowned local builder, Sabal Development, on Miami’s exclusive Venetian Islands has hit the market for $23.9 million. The property is a true testament to exquisite design capturing breathtaking bay views and natural light. Villa Marco is located on San Marco Island at 1369 North Venetian Way.

The 7,283 SF home is currently configured with 4 bedrooms but easily adaptable to 5 bedrooms and 5.5 baths to ensure convenience and comfort. The expansive formal and informal living spaces provide a harmonious balance between elegance and relaxation with floor to ceiling glass and views from every room. The home also features a gourmet kitchen, glass elevator and a garage with room for a lift.

The lushly landscaped outdoor areas are perfect for entertaining and enjoying the beautiful surroundings. Features include a panoramic rooftop terrace with hot tub and downstairs a summer kitchen, multiple seating areas, infinity pool and dock.

1369 North Venetian Way is currently listed for $23,900,000 with Mathieu Rochette of Compass.

Images via Compass