Winston Capital Affiliate Acquires Bay Harbor Islands Waterfront Homesite For $18 Million

An affiliate of David Burstyn's Winston Capital Management has acquired a premier waterfront homesite in Bay Harbor Islands for $18 million, marking a record land sale in the island community.

Property records show Winston Bay Harbor purchased the nearly half-acre parcel at 10312 West Broadview Drive from a family trust in an off-market transaction that closed this week. The sale agreement, signed by trustee Noah Burton, was recorded in May.

The north-facing waterfront property is expected to be redeveloped into a luxury speculative residence. The site offers enough development potential for an approximately 12,000-square-foot custom home, creating an opportunity for one of Bay Harbor Islands' largest new waterfront estates.

The transaction equates to approximately $914 per square foot of land. The property previously traded for $12.3 million in 2023, illustrating the rapid increase in values for premier waterfront homesites in Bay Harbor Islands.

Priscilla Burstyn of The Baron Agency represented the buyer in the transaction. The seller was represented by Zalmy Shapiro and Joel Lusky of The Brokerage South Florida, together with Jordan Karp of Jordan Karp LLC.

Burstyn serves as CEO of Winston Capital Management, a Miami-based real estate investment and lending firm. He is also a principal and co-founder of Redwood Dev Co, a development company focused on workforce and affordable housing communities.

The acquisition comes as Bay Harbor Islands continues to attract luxury residential investment due to its limited waterfront inventory and proximity to Bal Harbour, Surfside, and Indian Creek Island. The municipality has seen a series of notable residential transactions in recent years, including the 2024 sale of the waterfront estate at 9520 West Broadview Drive for just under $22 million. Earlier this year, another waterfront residence at 9640 West Broadview Drive sold for $21.8 million, establishing a new record for price per square foot in the community.

With demand for premier waterfront properties remaining strong and developable bayfront parcels becoming increasingly scarce, the acquisition at 10312 West Broadview Drive highlights the continued strength of Bay Harbor Islands' luxury residential market and the premium buyers and developers are willing to pay for exceptional waterfront homesites.

Images via Jordan Karp LLC

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Prosper Group and Versluys Group Close On Brickell Waterfront Land Assemblage For $50 Million, Set To Move Forward With $650 Million Luxury Development

A joint venture between Miami-based development company Prosper Group, led by CEO Jay Roberts, and Belgium’s Versluys Group, one of Europe’s leading luxury property developers, led by CEO Bart Versluys, have closed on a three-parcel assemblage for $50 million. Miami-based Vaster provided a $30.5 million acquisition loan.

The assemblage is located at 66 SW 6th Street, 625 SW 1st Avenue, and includes a riverfront parcel that was previous part of 99 SW 7th Street that has yet to be assigned an address. The one-acre assemblage will pave the way for an upcoming ultra-luxury $650 million waterfront residential tower on the Miami River in Brickell. The off-market site was acquired from Two Roads Development and Newgard Development Group.

The closing follows Prosper Group's partnership announcement with Versluys Group to deliver a $650 million, 60-story tower, which will feature 181 residences and more than 300 feet of direct river frontage.

“We are one step closer to bringing our vision for this development to fruition,” said Jay Roberts, CEO of Prosper Group. “With their deep local roots in Miami and exceptional agility, Vaster proved to be the ideal partner, ensuring a completely seamless execution for this transaction. Prosper Group and Versluys Group look forward to unveiling more about our project on one of the last waterfront sites in Brickell, Miami’s financial district and urban core."

“This closing marks a defining milestone for Versluys Group as we bring our European heritage of craftsmanship to Miami's waterfront," said Bart Versluys, CEO of Versluys Group. "For over a century, we have shaped the Belgian and Dutch coastline with architecture built for generations and we bring that same discipline to the Miami River. Alongside Prosper Group, we will craft world-class residences that embody a unique combination of American ambition and vision with European finesse and style."

Situated directly on the Miami River, the development will offer immediate access to Brickell’s urban core, including the dining, retail, and entertainment at Brickell City Centre. Waterfront access will provide direct connectivity to Biscayne Bay and Miami’s broader boating network, while proximity to I-95, Miami International Airport, and Brightline will connect residents to destinations across South Florida and beyond.

Images via Prosper Group and Versluys Group

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Developers of The St. Regis Residences, Sunny Isles Beach, Miami, Complete Landmark Foundation Pour As South Tower Prepares To Go Vertical

Fortune International Group and Château Group, developers of The St. Regis Residences, Sunny Isles Beach, Miami, have reached a significant construction milestone with the South Tower’s mat foundation pour, advancing the ultra-luxury oceanfront development at 18801 Collins Avenue into its next phase. The positive collaboration with Coastal Construction is one of several over the years between the development team and the acclaimed General Contractor.

Over a continuous three-day operation, the pour involved approximately 10,000 cubic yards of concrete, creating the structural foundation for the 170-residence South Tower – one of two 62-story towers that will each rise 750 feet above the Atlantic Ocean. With the foundation now in place, the South Tower will transition to vertical construction this year, while preparations continue for the project’s second and final phase: the 150-residence North Tower, which is scheduled to break ground in early Q4.

By the Numbers:

• 10,000 cubic yards of concrete for the South Tower mat foundation, poured continuously over three days (July 24 - 26)

• Approximately 4 million pounds of reinforcing steel (rebar)

• 1,100 concrete truck deliveries

• 500 construction workers involved in the three-day operation

• 6 boom pumps working simultaneously for more than 30 hours

• 150-foot by 135-foot mat foundation footprint

• 13-foot-thick reinforced concrete mat foundation

• 435 linear feet of direct Atlantic Ocean frontage – the longest stretch of ocean frontage of any luxury residential development currently under construction in South Florida

“Every major project reaches a point where years of planning, engineering and construction begin to take visible shape,” said Edgardo Defortuna, CEO of Fortune International Group. “Completing the foundation is one of those moments. It represents an extraordinary amount of work below the surface and marks the beginning of the next chapter as the South Tower starts to rise."

“For our residents, this milestone is especially meaningful because they will now begin to see the building emerge,” said Manuel Grosskopf, CEO of Château Group. “Construction is entering a highly visible phase, and we’re excited to see the vision continue taking shape as we move toward delivery. Each step brings us closer to delivering not just a building, but a home our residents will be proud of for generations.”

“South Florida continues to see tremendous demand for luxury waterfront residences, and we’re honored that developers continue to trust Coastal Construction with some of the region’s most complex projects,” said Tom Murphy, Coastal Construction Co-CEO.

Designed by Arquitectonica, The St. Regis Residences, Sunny Isles Beach, Miami will feature 435 linear feet of Atlantic Ocean frontage. Residents will enjoy more than 70,000 square feet of indoor and outdoor amenities, including two public-facing restaurants, a full-floor private spa, indoor and outdoor pools, a fitness and wellness center, a private residents’ club, children’s programming, and the signature St. Regis Butler Service.

Conceived as a private oceanfront residential resort, the development combines the hallmark hospitality of the St. Regis brand with an expansive amenity program designed for everyday living. The South Tower remains on track and on pace, hitting every major construction benchmark as the project moves steadily toward vertical construction and, ultimately, delivery.

Remaining residences start at approximately $5 million.

The St. Regis Residences, Sunny Isles Beach, Miami are not owned, developed or sold by Marriott International, Inc. or its affiliates (“Marriott”). La Playa Beach Associates, LLC uses the St. Regis marks under a license from Marriott, which has not confirmed the accuracy of any of the statements or representations made about the project.

Renderings via Binyan Studios, DBOX and ARQ

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The St. Regis Residences, Miami Passes 80% Sold As Penthouse Goes Under Contract For $47 Million

A penthouse at The St. Regis Residences, Miami is under contract for $47 million, marking one of the largest and highest-priced condominium transactions in Brickell's history and highlighting continued demand for ultra-luxury residences in Miami's urban core.

The buyer, a New York family relocating to South Florida, has placed the two-story Charles Penthouse under contract at the waterfront development in South Brickell. The sale further reflects the ongoing migration of high-net-worth buyers from the Northeast and reinforces Miami's position as one of the country's premier luxury residential markets.

Spanning 10,012 square feet, the Charles Penthouse represents the largest residence sold at the development to date. The transaction brings The St. Regis Residences, Miami to more than 80% sold, with approximately $900 million in sales and the project on pace for a nearly $1 billion sellout.

Developed by Related Group and Integra Investments, the 50-story luxury condominium tower is rising along the Biscayne Bay waterfront at 1809 Brickell Avenue. Construction began in November 2024, with the project expected to top out later this year ahead of its anticipated 2027 completion.

Designed by Robert A.M. Stern Architects (RAMSA)—the firm's first residential project in South Florida—with interiors by Rockwell Group, the development will feature 152 residences, including penthouses, sky villas and two standalone garden villas. The project combines contemporary waterfront living with the signature service and hospitality associated with the St. Regis brand.

Residents will have access to more than 50,000 square feet of indoor and outdoor amenities, including a professional-grade fitness center with dedicated Pilates and yoga studios, a full-size pickleball court, private marina, spa and holistic wellness center, indoor lap pool, and extensive landscaped outdoor spaces designed by Enea Garden Design.

The development will also feature a residents-only fine-dining restaurant led by Michelin-starred chef Fabio Trabocchi, alongside the signature St. Regis Tea Room. The lifestyle offering is complemented by the brand's renowned butler service, including in-residence deliveries, an on-premises house car, shoeshine service and personalized concierge arrangements.

Related Realty serves as the exclusive sales and marketing partner for The St. Regis Residences, Miami.

Renderings via Binyan Studios

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Development Spotlight: Colette Residences

Situated between Brickell's vibrant financial district and the tree-lined streets of Coconut Grove, the South Brickell neighborhood has become one of the city's most desirable addresses for buyers seeking a more intimate luxury living experience while remaining connected to the energy of Miami's urban core. Few Miami neighborhoods offer the balance of urban convenience and residential tranquility found in South Brickell.

Among the developments redefining boutique luxury living in the neighborhood is Colette Residences, an exclusive collection of just 34 residences developed by META Development with pricing starting at $2.79 million. Designed by internationally acclaimed architecture and interior design firm OSPA, the project emphasizes expansive floor plans, thoughtful architecture, and highly personalized living. The recent $15 million sale of four residences—combined into two custom duplex townhomes totaling more than 9,000 square feet—further reinforces growing demand for boutique developments that offer customization, privacy, and the scale typically associated with single-family homes.

Project Overview

Located at 1880 Brickell Avenue, Colette Residences is a boutique luxury condominium consisting of just 34 residences across five residential levels. Rather than maximizing density, the project prioritizes spacious residences, generous outdoor living, and carefully curated amenities that create an elevated residential experience.

Designed around the concept of "Built for the Few. Admired by the Many," Colette blends contemporary architecture with lush landscaping and refined interior spaces, creating a residential environment that feels both private and connected to the surrounding neighborhood.

Why It Matters

While Brickell has become synonymous with high-rise condominium living, buyer preferences continue shifting toward developments offering greater privacy, lower density, and larger residences.

Colette reflects that evolution. With only 34 homes, expansive floor plans, and opportunities for customization—including the recent assemblage of four residences into two duplex townhomes—the project represents a growing segment of Miami's luxury condominium market where exclusivity often outweighs scale.

Architecture & Design

Architecture and interior design are led by internationally recognized design firm OSPA and Bellon Architecture, whose vision combines contemporary architecture with warm natural materials and generous landscaping throughout the building.

The five-level design creates interconnected open-air spaces filled with natural light while maintaining privacy between residences. Floor-to-ceiling glass, expansive terraces, natural wood detailing, and lush landscaping soften the building's contemporary architecture and reinforce its boutique character.

The project also features landscape architecture by David O. Design.

Residences

Colette offers an exclusive collection of residences designed for spacious indoor-outdoor living with pricing starting at $2.79 million with sales overseen by the Eklund | Gomes Team at Douglas Elliman Development Marketing.

Residence highlights include:

• 34 luxury residences

• Two-, three- and four-bedroom floor plans

• Approximately 2,144 to 3,180 square feet

• Four Garden Residences with private gardens, outdoor kitchens and spas

• Four Terrace Residences with oversized outdoor living areas

• Two penthouses measuring 5,916 and 6,128 square feet

• Private rooftop pools and summer kitchens for penthouses

• Private wraparound terraces

• Ceiling heights up to 10 feet 6 inches

• Four private elevators with password-protected access

• Miele appliance package

• 78-bottle wine cooler

• Smart-home prewiring

• Custom Italian millwork by Cesar

• Italian walk-in closets by LEMA

• Inalco mineral countertops

• Porcelanosa flooring

• Victoria + Albert soaking tubs

• Graff fixtures

• Duravit fixtures

Amenities

Despite its intimate scale, Colette offers more than 15,000 square feet of indoor and outdoor amenities thoughtfully designed around wellness, entertaining, and everyday living.

Amenities include:

• Double-height arrival lobby

• 24-hour concierge

• Rooftop 50-foot resort-style swimming pool

• 5,200-square-foot rooftop sun deck

• Private cabanas

• Indoor residents lounge with catering kitchen

• Outdoor lounge with barbecue kitchen

• TECHNOGYM fitness center

• Outdoor yoga and wellness terrace

• Spa with jacuzzi

• Sauna

• Massage room

• Screening room

• Children's playroom

• Meeting room

• Bicycle storage

• Electric vehicle charging

• On-demand valet

• Covered self parking

• Private storage units

Location

Situated along prestigious Brickell Avenue, Colette occupies a unique location between Brickell and Coconut Grove. Residents enjoy convenient access to Brickell City Centre, Downtown Miami, Key Biscayne, Coconut Grove, Coral Gables, Miami Beach, and Miami International Airport while living within one of Miami's most established residential neighborhoods.

The project combines walkability with the privacy and neighborhood feel that increasingly distinguishes South Brickell from larger urban districts.

Development Team

Colette Residences is developed by META Development, a Miami-based developer specializing in boutique luxury residential communities led by Andrew Rasken.

The project is designed by internationally acclaimed firm OSPA, serving as both architect and interior designer, with Bellon Architecture as Architect of Record. Landscape architecture is by David O. Design, structural engineering by Eastern Engineering Group, mechanical, electrical and plumbing engineering by Hammond & Associates, lighting design by A Luzia, and aquatic engineering by Aquadynamics Design Group. Exclusive sales and marketing are led by Douglas Elliman Development Marketing in partnership with Eklund | Gomes.

For more information please contact Katya Demina of the Eklund | Gomes Team at Douglas Elliman at 925-876-2840 or email Katya.demina@elliman.com.

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Wellness and Longevity-Inspired Crown Jewel Penthouse at Rivage Bal Harbour Revealed For $75 Million

A new, and final, oceanfront estate-style penthouse is up for grabs for $75 million at Rivage Bal Harbour, a 25-story, 56-residence tower developed by Related Group, Rockpoint, and Two Roads Development.

A standout feature is its dedicated "Longevity Suite"— an in-home wellness wing anchored by an “Ammortal Chamber” and hyperbaric chamber, alongside a sauna, steam room, circadian lighting throughout the residence, advanced air and water purification systems, sleep-optimized bedrooms and more.

The Ammortal Chamber is already used by organizations like the Denver Broncos and hospitality brands including Proper Hotels. It combines red-light therapy, PEMF, molecular hydrogen and guided meditation into a single session designed to support recovery, reduce stress and promote overall vitality. Paired with the hyperbaric chamber, the home offers the kind of recovery and longevity setup that's typically only found in specialized wellness clinics.

The residence itself spans more than 10,000 air-conditioned square feet with five bedrooms, six bathrooms and three powder rooms across Rivage's top floors, boasting matching terraces overlooking the Atlantic, Biscayne Bay and the Miami skyline. There's another 10,000+ square feet of private outdoor space, including an oceanfront plunge pool, hot and cold tubs, outdoor kitchens and multiple entertaining areas.

As the first new ultra-luxury condo tower in the exclusive Village of Bal Harbour in more than a decade, Rivage is nestled between the Intracoastal Waterway and 200 feet of uninterrupted oceanfront, immersing residents in Miami Beach’s breathtaking natural beauty. Comprising just 56 sky villas, the boutique condominium features world-class designs by the award-winning architects Skidmore, Owings & Merrill (SOM) and interior design firm Rottet Studio. Each residence reflects organic influences, with open-concept layouts that flow seamlessly into expansive living areas and oversized terraces with unobstructed views of the Atlantic Ocean and Biscayne Bay. Designed to provide a single-family home experience, the residences start from 3,300 and include both in-unit elevator access and private parking garages. Sales and marketing for Rivage Bal Harbour is exclusively overseen by Douglas Elliman Development Marketing (DEDM).

A focus on wellness connects the more than 25,000 square feet of on-site amenities, including a state-of-the-art fitness pavilion with panoramic views; a hammam spa complete with hot/cold plunge pools and private treatment rooms; and pickle and paddle ball courts surrounded by lush landscapes designed by Swiss design firm Enea Landscape. Residents and guests can also unwind with relaxed options, from private, chef-driven food and a cocktail lounge to a VR game simulator and a kids' playroom. Resort-style services, including a 24/7 residential butler and dedicated lifestyle concierge, round out the package and ensure all residents’ needs are met.

The Village of Bal Harbour has been an enclave for the elite since its establishment in 1929. Located between iconic South Beach and Sunny Isles, the waterfront community has long been a favorite for snowbirds, offering easy access to the world-famous Bal Harbour Shops as well as the very best of South Florida.

Renderings via visualisation.one

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Allen Morris Company Completes Demolition at Ziggurat Coconut Grove, Site Cleared Paving Way To Start of Construction

Allen Morris Co., one of the leading real estate firms in the Southeast U.S., has completed demolition at the future site of the nearly sold-out Ziggurat Coconut Grove, paving the way for the start of site work and vertical construction. Developed in partnership with the Espinosa family, Ziggurat Coconut Grove is a highly anticipated mixed-use development offering world-class office, residential and retail while honoring the neighborhood’s character, walkability and natural beauty. The project is supported by a $138.5 million construction loan from BDT & MSD Partners and BHI. Completion is anticipated in early 2028.

Ziggurat will comprise two architecturally distinct buildings: a five-story, 100,000-square-foot trophy office tower and a three-story residential building featuring 18 ultra-luxury condominium residences above approximately 45,000 square feet of ground-floor retail.

Designed by Oppenheim Architecture with interiors by Collarte Interiors, the development blends natural stone, lush landscaping and modern architecture to create an open, pedestrian-oriented environment. Open-air paseos will lead to a central courtyard activated by bistros, boutiques and wellness offerings, while the office tower’s rooftop will feature a restaurant and lounge by a local Michelin-starred chef with views of Biscayne Bay.

The residential component, exclusively represented by ONE Sotheby’s International Realty, will offer residences ranging from approximately 1,254 to over 5,000 square feet, priced from $3.5 million to $15 million. Homes will overlook the soon-to-be revitalized Kirk Munroe Park, which is slated for an $8 million renovation through a partnership between The Allen Morris Co. and the City of Miami.

For additional information on any facet related to the development, contact info@zigguratcoconutgrove.com or ONE Sotheby’s International Realty at 786-926-5051.

Renderings via Allen Morris Company | Images via PROFILEmiami

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Mast Capital And Koch Real Estate Investments Acquire The Islands of Islamorada Resort In The Florida Keys, Set To Launch Sales of Private Waterfront Villas

Mast Capital, in partnership with Koch Real Estate Investments, has acquired The Islands of Islamorada Resort, a luxury resort in Islamorada, Florida, offering convenient access to the Florida Keys’ renowned boating, fishing, dining and outdoor recreation destinations.

The joint venture of Mast Capital and Koch Real Estate Investments acquired the resort from the seller Frisbie Group. Berkadia Miami’s Scott Wadler arranged acquisition financing through lender Ardent Real Estate. It was reported in July 2024 that Wills Company had acquired the property for $72 million but Frisbie Group retained a stake in the partnership.

Located at 82779 Old Highway in the Upper Keys, just 90 minutes from Miami, The Islands of Islamorada Resort features 22 private, oceanside villas and eight hotel suites across a serene and exclusive enclave. The luxury resort offers direct water access and an elevated hospitality experience in one of the Florida Keys' most sought-after destinations.

Spanning approximately seven acres of exceptional shoreline property in Islamorada, known as the "Sport Fishing Capital of the World," the resort offers an array of upscale amenities, including two oceanfront swimming pools, a private beach, two pickleball courts, two playgrounds, a beachfront bar and a state-of-the-art fitness center. Guests also enjoy access to a private marina with boat slips, paddleboards, kayaks and sailboats for leisurely coastal pursuits, as well as personalized concierge services and event spaces for weddings, corporate retreats and other special occasions.

The new ownership group plans to re-launch sales and marketing efforts for the property's 22 waterfront villas, with Ocean Sotheby's International Realty serving as the exclusive sales broker. With prices starting at $3.8 million, the fully furnished, detached residences span 4,067 total square feet and feature four bedrooms, four full bathrooms, three-story layouts with covered waterfront loggias primed for outdoor entertaining, two-car garages with EV charging capabilities, premium finishes and appliances, integrated smart-home technology, and concrete block construction built to current hurricane code standards.

"The Florida Keys represent one of the country's most supply-constrained hospitality markets, where exceptional waterfront assets continue to benefit from strong long-term demand and high barriers to entry," said Jordan Kornberg, Chief Investment Officer of Mast Capital. "The Islands of Islamorada offers villa buyers a unique opportunity to own a newly built, high-quality residence in the heart of the Florida Keys with the lifestyle of a luxury resort and ability to generate income through the resort’s rental program."

“The financing reflects continued lender confidence in well-capitalized sponsors pursuing differentiated and high-barrier investments in supply-constrained markets like the Florida Keys," Wadler said. "The Islands of Islamorada offered a rare combination of an irreplaceable waterfront location, luxury condo-hotel product and an experienced ownership group with a clear business plan, allowing the financing to come together on an accelerated timeline."

The acquisition further expands Mast Capital's growing hospitality portfolio across Florida as it continues to invest in premier leisure and lifestyle destinations. The firm's hospitality holdings include the three Michelin-key destination Little Palm Island Resort & Spa in the Florida Keys, one of the state's most exclusive luxury island retreats and America’s only private island resort, accessible only by sea or sky. The firm also owns the iconic Saddlebrook Resort in Tampa Bay, a 480-acre property that recently relaunched following a transformative renovation.

In addition to its hospitality assets, Mast Capital is also currently advancing several high-profile residential projects, including The Perigon Miami Beach, an ultra-luxury oceanfront condominium developed alongside Starwood Capital Group; Cipriani Residences Miami, an 80-story luxury residential tower that recently topped off in Brickell; and Banyan Tree Residences West Palm Beach, Banyan Group’s first-ever residential project in the U.S. being developed in collaboration with Curated JCZM Development.

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Witkoff Secures $302.6 Million Construction Loan for First Phase of Kobi Karp-Designed Residential Development in Miami Worldcenter

Another major residential development is moving closer to construction in Downtown Miami after Witkoff, in partnership with Monroe Capital, secured a $302.6 million construction loan for the first phase of its planned three-tower community at 700 North Miami Avenue in Miami Worldcenter.

The financing marks a significant milestone for one of the final large-scale undeveloped parcels within Miami Worldcenter. The nearly five-acre property, formerly home to the historic Miami Arena, is planned for a master-planned residential development designed by Kobi Karp Architecture & Interior Design.

The financing was provided by Athene Annuity and Life Company, an affiliate of Apollo Global Management, together with J.P. Morgan Chase. The transaction refinanced approximately $57.3 million in existing debt while providing roughly $245.3 million in new construction financing. Lotus Capital Partners arranged the financing.

The project's first phase will include a residential tower rising approximately 600 feet with 894 residential units. Plans also call for 17,367 square feet of ground-floor retail space and a nine-story parking garage encompassing approximately 167,237 square feet.

Upon completion, the full development will feature three residential towers rising 50, 51 and 53 stories. The master plan includes 2,346 residential units, approximately 30,535 square feet of commercial space and 2,078 parking spaces, creating one of the largest planned residential communities within Miami Worldcenter.

The development continues to move through the City of Miami's permitting process. Site preparation has already been approved, while the master building permit and phased vertical construction permit remain under review. Construction costs for the first phase are estimated at nearly $270 million, with Coastal Construction serving as the project's general contractor.

Witkoff and Monroe Capital acquired the property for $94 million in 2021 after earlier redevelopment plans for the site were never realized. Before the current vision, the parcel had been slated for a Marriott Marquis hotel and convention center project that ultimately did not move forward.

The property occupies the former site of the Miami Arena, which opened in 1988 as the original home of the Miami Heat before later hosting the Florida Panthers, as well as concerts, sporting events and other entertainment throughout its history. The arena was demolished in 2008.

Located within walking distance of Brightline's MiamiCentral Station and other regional transit connections, the project represents another major step in the continued evolution of Miami Worldcenter as Downtown Miami's mixed-use neighborhood continues to expand.

Renderings via Kobi Karp Architecture & Interior Design

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Waterfront Estate In Bal Harbour Trades For $43 Million In Off-Market Transaction

A waterfront estate in Bal Harbour has traded for $42,973,750 in an off-market transaction, marking a record for the priciest sale in Bal Harbour this year.

Located at 56 Bal Bay Drive, the newly completed waterfront estate offers 7 bedrooms, 8 full baths and one-half bath across 10,801 square feet of interiors on a sprawling 21,225-square-foot lot with 100 feet of prime water frontage. Developed by Saber South Real Estate, the residence was designed by NMD NOMADAS and expertly constructed by Amarilla.

Per public record, the sellers are Michael G. Klinger of Saber Real Estate and his wife Michelle Klinger. They were represented by Dina Goldentayer with Douglas Elliman and Joel Lusky at The Brokerage South Florida Real Estate.

Bal Harbour is South Florida's most exclusive residential enclaves. Residents enjoy the convenience of a highly walkable environment, with beaches, acclaimed dining destinations and the world-famous Bal Harbour Shops all within easy reach. The community has a dedicated police department, which provides residents with an added sense of privacy and security. In 2024, Brazilian soccer star Neymar Jr. purchased a $26 million vacant waterfront lot in the community.

Images via Become Legendary

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