Miami Waterfront Lot Sold for $23M
The new owner will live next to Bee Gee's Barry Gibb, on .63 acres of Miami waterfront
A prime waterfront lot on Miami Beach's prestigious North Bay Road has been sold for $22.9 million, marking the latest significant transaction in the area's luxury real estate market.
The 0.6-acre property at 5840 North Bay Road boasts 150 feet of waterfront and is situated near the estates of notable figures such as Bee Gees' Barry Gibb and private equity billionaire Orlando Bravo. The buyer, Emanon 5851 LLC, managed by attorney Mark S. Meland, also owns a property across the street, indicating a strategic investment in the neighborhood.
Originally listed for $33.9 million in 2023, the property's sale reflects the high demand for waterfront lots in Miami Beach, despite a slight decrease from its initial asking price. This transaction is part of a broader trend of substantial real estate deals on North Bay Road, including David and Victoria Beckham's $72.3 million purchase and developer Todd Glaser's pending $105 million acquisition.
The sale underscores the continued allure of Miami Beach's luxury market, attracting high-net-worth individuals seeking exclusive waterfront properties.