The Real Deal Miami

Waterfront Bay Point home sale priciest to date

Property last sold for $1.76M in 2011

July 15, 2015 03:00PM
By Katherine Kallergis

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761 Buttonwood Lane

761 Buttonwood Lane in Bay Point, Miami.

A Key West-style house in Bay Point sold for a record price in the neighborhood, $7.26 million, or $981 per square foot, The Real Deal has learned. 

The 7,400-square-foot waterfront home at 761 Buttonwood Lane was completed two weeks ago, according to Julian Johnston of Calibre International Realty, who brokered the deal.

The six-bedroom, six-and-a-half-bathroom house sits on nearly half an acre in Bay Point, a guard-gated community off Biscayne Boulevard, near Buena Vista and MiMo. It features a gourmet kitchen with Subzero and Wolf appliances, vaulted ceilings throughout, and a theater room.

The property also features 120 feet of water frontage, a new dock and a pool.

Blue Skies 2011 LLC was the seller. Kotlajic Miodrag is listed as a registered agent on the Miami-based company’s corporate records. Miodrag paid $1.76 million for the property in April 2011, according to Miami-Dade property records.

The seller is moving to Spain, Johnston told TRD. The buyer, who lives in London part-time, owned a condo and was looking to expand. The sale, which closed on Tuesday, has not yet been recorded online.

“A lot of times, the houses [in Bay Point] are renovated, but they do it for themselves. They’re not selling,” Johnston told TRD.

The second highest sale in Bay Point was the 30,823-square-foot property at 4511 Lake Road, which sold for $6.77 million in 2010, according to the MLS. Next is the 21,224-square-foot property at 4575 Sabal Palm Road, which sold for $6.15 million last year.

The community is also home Enrique Iglesias, who owns the 20,000-square-foot mansion at 4535 Sabal Palm Road.

  • Beastikle

    That’s $981/sq ft. Someone needs a little help with basic arithmetic.

    • Katherine Kallergis

      Hi, thanks for your comment. We’ve updated the story to reflect the correct price per square foot.