Check Out Sabal Development's Newly Revealed Tropical Modern Coconut Grove Spec Home Asking $24.9 Million

Sabal Development and Sabal Luxury Builder, led by Pascal Nicolai, have revealed their newly listed tropical modern spec home asking asking $24,900,000 in the hot of Miami’s hot Coconut Grove neighborhood. The 8,833 SF home offers 6 bedrooms and 8 bathrooms on a .84 acre lot. The contemporary masterpiece features soaring ceilings and light-filled interiors, every room offers a sense of spaciousness and elegance. The seamless flow from the indoors to the expansive outdoor living area creates an entertainer’s dream—complete with a covered summer kitchen and a tropical heated pool and spa, surrounded by the lush greenery of nature’s finest backdrop. Featuring a private guest house, a fully equipped gym, a movie theater, and an outdoor kitchen cabana. Blending luxury, comfort, and nature, this one-of-a-kind Coconut Grove home has everything you need to entertain in stye.

4040 Kiaora St, Miami, FL 33133 is listed for $24,900,000 with Lourdes Alatriste of Douglas Elliman.

Images via Sabal Development

Celestial Fund Closes $35 Million Bespoke Debt Package For Spec Home Portfolio

Celestial Fund, under the leadership of Founder and CEO Eugene Rutenberg, has closed on a $35 million bespoke debt package, structured for the recapitalization and refinancing of an exceptional three-property Spec Home portfolio, developed by Cicardo Development — a premier merchant builder based in South Florida.

The portfolio comprises two ultra-prime waterfront estates situated on trophy lots in Fort Lauderdale and a third extraordinary residence located in the prestigious enclave of Harbour Beach in Boca Raton, Florida.

Over the past 24 months, Celestial Fund has firmly cemented its reputation as a dominant force in luxury real estate finance, having orchestrated over $125 million in Spec Home transactions across South Florida. Through its Capital Markets Consulting platform, the firm has additionally facilitated another $100 million in successful capital placements. Celestial Fund has a stable of capital from a curated group of prominent family offices, financing Senior Loans secured by premier Luxury Spec Home developments and operates a parallel investment vehicle dedicated to Preferred Equity positions secured by high-value Multifamily and Commercial assets nationwide.

Eugene Rutenberg, with over 15 years of distinguished experience as both a Lender and Capital Advisor Consultant, has completed in excess of $1 Billion in complex, structured real estate financings throughout his career.

The Portfolio: A New Benchmark in Ultra-Luxury Residential Development

1400 West Lake Drive, Fort Lauderdale, FL

Nestled on an unparalleled point lot within the exclusive Harbor Beach peninsula, this architecturally significant modern estate exemplifies the pinnacle of sophisticated waterfront living. Offering approximately 10,500 sq ft of refined interiors and over 15,000 sq ft of total luxury footprint, the residence boasts an extraordinary 250+ feet of deep-water dockage — ideal for superyachts and multiple vessels alike — with sweeping, unobstructed vistas of Lake Sylvan and the Fort Lauderdale skyline. Meticulously crafted with imported Italian finishes across three levels, amenities include seven stately bedrooms, a world-class wellness center featuring a gym, sauna, and steam showers, an executive office, and a stunning rooftop sky lounge complete with a custom-designed bar. Targeted for completion in January 2026.

2880 NE 28th Street, Fort Lauderdale, FL

This masterfully designed three-story waterfront sanctuary redefines modern resort living within Coral Ridge’s most sought-after community. Commanding an oversized Southeast-facing lot with 153 feet of no-wake zone water frontage, this Zen-inspired private compound offers an exceptional 13,000 sq ft of total living space. The residence comprises six bedrooms, eight designer baths, a state-of-the-art Club Room, home gym, spa with sauna and cold plunge pool, and a top-floor media entertainment suite crowned by an expansive rooftop sky lounge. Featuring both a chef’s and butler’s kitchen, dedicated crew/staff quarters, and a 4-car gallery garage. Ready for immediate occupancy May 30, 2025.

681 Golden Harbour Drive, Boca Raton, FL

Situated on an irreplaceable dream lot overlooking the pristine waters of Lake Wyman, this resort-inspired private oasis is encircled by lush, protected preserve lands, ensuring unparalleled privacy and a natural symphony of wildlife. Offering 11,173 sq ft of exquisitely curated total living space, the residence hosts six bedrooms, seven baths, a sumptuous Club Room, rooftop entertainment area, elevator access, and a 4-car collector’s garage. Boasting 117 feet of yacht-ready water frontage in a no-wake zone, this bespoke masterpiece will be delivered May 30, 2025.

Signature Capital Placements: Design 41 Miami & One Park Place Office in Boca Raton, FL.

A crowning achievement for Celestial was its instrumental role in arranging the $45.30 million financing package for the iconic Design 41 project — a 47,000 sq ft “Class A” mixed-use jewel located at the very heart of Miami’s world-renowned Design District. As one of the tallest and most architecturally distinctive structures in the immediate area, Design 41 features 60+ private, secure indoor parking spaces, a breathtaking oversized penthouse patio, and a roster of prestigious tenants including BSH Group (BOSCH, Thermador, Gaggenau), Hastens Beds, BOND No. 9, and Breitling. Designed by internationally acclaimed architect Enrique Norten of TEN Arquitectos, the project integrates cutting-edge Green Building technologies and proudly holds a LEED Silver Certification. Conveniently situated just 10 minutes from Miami International Airport, Design 41 epitomizes the fusion of visionary architecture, sustainable innovation, and enduring luxury.

Another of Celestial’s most recent placements is the $16.30 million financing of a 240,000 sq ft Class A office building called One Park Place in Boca Raton, FL.

Connect with Celestial Fund:

Karlton Companies Sells Allison Island Spec Home For Record $31.5 Million In Miami Beach

In a landmark transaction that has set a new benchmark for real estate on Allison Island, Karlton Companies has sold a stunning waterfront spec-mansion which was completed last year for $31.5 million, eclipsing previous records in Miami Beach. The home was listed with Jordan Karp of Jordan Karp, LLC. and Dora Puig of Luxe Living Realty represented the buyer.

6494 Allison Road features six bedrooms and eight-and-a-half bathrooms spread over 8,024 SF. The residence boasts an impressive array of amenities, including a two-car garage equipped with lifts, a spacious rooftop terrace, a state-of-the-art gym complete with sauna and steam rooms, a lavish pool, and a summer kitchen. Additionally, the property includes a boat lift and a dock, catering perfectly to waterfront living enthusiasts.

An entity associate with Karlton Companies acquired the lot for $4.8 million in 2018 which was strategically located next to the former residence of rapper Lil Wayne, who previously held the record on Allison Island after he sold his property in 2023 for $22.5 million.

Karlton Companies is led by Fred Karlton, alongside his son, Aaron Karlton, who are also developing a waterfront spec-mansion at 1649 West 22nd Street on the Sunset Islands.

Images via Jordan Karp LLC and Karlton Companies

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

Manalapan Estate Designed By Choeff Levy Fishman Hits Market For $285 Million, One of the Most Expensive Homes for Sale in the United States

A true architectural marvel in the prestigious Town of Manalapan, Florida, boarding the ritzy Palm Beach Island, has hit the market for $285 million, making it one of the most expensive homes for sale in the United States. This Ocean-to-Intracoastal masterpiece, designed by Choeff Levy Fishman and crafted by Robert W. Burrage of RWB Construction Management, redefines luxury and sophistication on a scale never before achieved.

Spanning over 50,000 total square feet on 4 expansive acres, this estate boasts an impressive 700+ feet of combined Intracoastal and Ocean frontage. Meticulously designed by Marc-Michaels Interior Design, Inc., the residence exudes timeless elegance with modern functionality, offering breathtaking panoramic views of the Ocean and Intracoastal Waterway from every vantage point.

Fully furnished, the estate includes a private car museum, boathouse, guest house, beach house, gym, spa, movie theater, golf simulation room, bowling alley, padel court, and shooting range. Outdoor spaces feature a 3,700-square-foot infinity-edge pool, cascading waterfalls, and tranquil lagoons overlooking the Intracoastal.

Boating enthusiasts will appreciate the private dock with direct access to the Ocean via nearby inlets, accommodating even the largest mega yachts. Nestled between Palm Beach Island, Delray Beach, and Boca Raton, this estate offers unparalleled accessibility and proximity to private airports for discerning travelers.

Residents of Manalapan also enjoy complimentary membership to The La Coquille Club at the renowned Eau Palm Beach Resort and Spa. With exceptional privacy and security, this serene oasis stands unmatched in elegance and sophistication. Elevating the definition of luxury to an extraordinary level, this property is a true jewel of the Florida coastline.

1960 S Ocean Boulevard, Manalapan, FL 33462 is listed with Nick Malinosky of Douglas Elliman.

Event November 6 | PROFILEconnect: Spec Homes & Ultra Luxury Real Estate at Lafayette Miami

On November 6, PROFILEmiami, South Florida's leading real estate media powerhouse, will host an exclusive deep dive into the lavish world of ‘Spec Homes & Ultra-Luxury Real Estate’ at the vibrant and sophisticated Lafayette Steakhouse in Brickell. The brainchild of Mr. Hospitality and CEO/Founder Mathieu Massa, Lafayette Steakhouse seamlessly blends the nostalgic allure of a classic American steakhouse with the refined atmosphere of a London speakeasy.

The event will begin with an insightful, in-depth panel discussion and lavish Bespoke Networking cocktail party with cocktails powered by E11EVEN Vodka. For those seeking to extend the experience can elect for a sit-down networking dinner which will showcase Lafayette’s renowned culinary expertise alongside the leaders of the Miami real estate industry (additional charge; see details below).

PROFILEmiami’s ‘Spec Homes & Ultra-Luxury Real Estate’ exploration, brings the spotlight to Miami and South Florida’s hot ultra-luxury single-family home sector where pricing has seen sharp increases as buyers have clambered to lock in their waterfront property amongst ever dwindling inventory. The panel will feature one of the leading spec home architects Ralph Choeff of Choeff Levy Fischman, powerbrokers Nelson Gonzalez and Dora Puig, top spec home developer Pascal Nicolai of Sabal Development, interior designer Thomas Diverio from Dunagan & Diverio Design Group, moderated by spec home developer Mathieu Massa from Massa Construction Group.

PROFILEconnect brings together Miami’s real estate industry and business professionals to network and connect outside of a business setting. The evening is set to be attended by South Florida’s most active spec home developers, architects, brokers, investors, interior designers and financiers. Guests will have the opportunity to network and share their experiences in South Florida through thoughtful discourse, while forging new relationships with industry leaders.

The evening will begin with Bespoke Networking with a premium open bar powered by E11EVEN Vodka and gourmet bites courtesy of Lafayette Steakhouse during the Panel & Cocktails portion of the event. Guests wishing to enhance their experience can partake in an elective three-course sit-down networking dinner, promising a truly indulgent culinary journey alongside the leaders of the Miami real estate industry. The exclusive chef-curated menu boasts a selection of decadent choices: appetizers include Prime Beef Filet Carpaccio, Fried Jumbo Shrimp, or Smoked Kurobuta Pork Belly BBQ; mains include a 6-oz Filet Mignon, Lafayette Cheeseburger, or Pan-Seared Striped Bass; and dessert options feature Half-Baked Cookie, America French Toast, or Dulcey Chocolate Popcorn Sensation. This exquisite dinner offers a perfect close to a night of elite networking and culinary delight.

Date: November 6, 2024

Time:

• Panel & Cocktails: 5 - 7 PM (Panel starts at 6 PM)

• Sit-Down Networking Dinner: 7 PM (Optional Additional Charge)

Location: Lafayette Steakhouse, 1111 SW 1st Ave., Miami, FL 33130

Tickets:

• $150 Panel + Cocktails (Limited to 150 Tickets)

• $275 Networking Dinner + Panel + Cocktails (Limited to 50 Tickets) - A La Carte menu and private reservations available by request.

*Exclusive 3-Course Networking Dinner Menu ($275)
Your choice of (per course):
Appetizers 🍤
- Prime Beef Filet Carpaccio
- Fried Jumbo Shrimp
- Smoked Kurobuta Pork Belly BBQ 

Entree 🥩🎣
- 6-oz Filet Mignon
- Lafayette Cheeseburger
- Pan-Seared Striped Bass

Dessert 🍪
- Half-Baked Cookie
- America French Toast
- Dulcey Chocolate Popcorn Sensation

Sponsors:

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Sponsorship Information

Douglas Elliman Launches Sales at Ocean Glass Residences

Ocean Glass Residences, an exclusive community of 28 luxury townhomes, recently launched sales with Douglas Elliman Real Estate. Located at 10101 South Ocean Drive on Hutchinson Island, the development offers residents a unique combination of waterfront living and modern sustainability features. Designed by Wright Gardner and developed by EcoLogics Group, LLC, the homes feature cutting-edge Green Tech, including floor-to-ceiling impact glass panels and living spaces elevated 13 feet above sea level to enhance durability in the coastal environment.

The townhomes, ranging from 2,970 to 3,280 square feet, offer spacious three- to four-bedroom layouts with contemporary designs and a focus on open living spaces. Each home also includes a 500-square-foot rooftop terrace, providing expansive views of the surrounding nature preserve and the Intracoastal Waterway. Residents will benefit from private 3-plus-car garages, making the community ideal for those seeking both luxury and practicality.

Beyond the individual residences, Ocean Glass Residences boasts 14 private acres, 11 of which are preserved as untouched natural land. This commitment to conservation enhances the community’s peaceful ambiance and ensures long-term privacy. Additional amenities include a centralized clubhouse, complete with a pool and greenspace, as well as outdoor showers for residents to enjoy after beach visits. Notably, the community offers 11 private boat slips and direct beach access, a rare feature in the area.

Conveniently located just minutes from Historic Downtown Stuart, Ocean Glass Residences is close to the area’s best restaurants, galleries, and entertainment venues. With easy access to museums, live theatre, and boutique shops, the development is positioned to offer a blend of serene waterfront living with cultural experiences just a short drive away.

Dean Bloch and Kim Spears of Douglas Elliman are exclusively representing the sales of Ocean Glass Residences, with interest expected to grow as buyers seek out properties that provide a balance between modern luxury, environmental sustainability, and natural beauty.

Pinecrest Estate Sells For Record $14.3 Million, Highest Sale In Village History

A new record has been set in Pinecrest real estate with the sale of 8900 SW 64th Court for $14.3 million, the highest-priced residential property ever recorded in the village's history and surpassing the previous record of $13.9 million set by Jorge Mas’ former home last year. The tropical modern home spans 15,098 SF of contemporary living space on a 50,529 SF lot. The estate features seven bedrooms, eleven full bathrooms, and two half-bathrooms, complemented by an 86-foot pool, an entertaining pavilion, a theater room, a gym, and a guest house. Other features include MiaCucina-designed interiors, four-car garage, and meticulously landscaped gardens along with tailored water elements. The home was designed by renowned architect Cesar Molina of CMA Design Studios, Inc. and developed by Dionicio Investment Group. The transaction was overseen by Michael Diaz of Miami Brokers Group©.

Florida is home to numerous affluent areas, but only Pinecrest and Palm Beach rank among the top 50 wealthiest communities in the country, as reported by GoBankingRates©. As Florida’s second wealthiest neighborhood and 20th in the nation, Pinecrest highlights its exceptional status among the nation's elite neighborhoods and luxury living.

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.

Golden Beach Oceanfront Estate Complete With Shelby Cobra Hits Market For $42 Million

An ultra-luxury tropical paradise in Golden Beach has hit the market for $42,000,000. This stunning oasis offers 9 bedrooms with private access to a backyard beach, providing the ultimate in relaxation and luxury living. The 12,000 SF mansion has recently undergone a million-dollar makeover and is tastefully staged with Artefacto's sublime collection of furniture, perfectly complementing the beachfront setting. As an added option, a custom Backdraft Shelby Cobra from Prestige Imports can also be included as part of the sale. The home was designed by DOMO Architecture + Design developed by Todd Michael Glaser.

Situated on the Atlantic Ocean, this modern tropical retreat boasts panoramic ocean views and an array of extravagant amenities. The living areas feature a wet bar, gourmet kitchen, elegant dining room, family room, and a spacious terrace with a summer kitchen – perfect for entertaining guests or simply enjoying the ocean breeze.

The primary suite offers ocean views with marble his-and-hers bathrooms and walk-in closets. On the ground floor, an entertainment space awaits with a show-stopping Shelby Cobra car. Additional amenities include a rooftop terrace, theater, guesthouse, 4 kitchens, elevator, patio, and cabana.

263 Ocean Blvd is listed with Nelson Gonzalez of Berkshire Hathaway HomeServices EWM Realty for $42,000,000.

Images via Nelson Gonzalez BHHS EWM Realty