The Real Deal Miami

Waterfront home in Miami Beach sells for $9M

Buyer is tied to NY-based Boymelgreen Developers

October 19, 2015 12:00PM
By Sean Stewart-Muniz

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The home at 4539 Pine Tree Drive

The home at 4539 Pine Tree Drive

A mid-century home in mid-Miami Beach has sold for $9 million, almost five times the price it last traded for in 2001.

The residence is located at 4539 Pine Tree Drive, two lots north of the neighborhood’s Pine Tree Park. Built in 1951, it measures 6,347 square feet and occupies an almost three-quarter-acre lot that faces the Intracoastal Waterway.

Its features include a white and gold interior color scheme, a large circular motor court with a rose-covered fountain, a heated saltwater pool and a 100-foot dock.

The sellers, Alberto and Mercedes Garcia, had owned the property for roughly 14 years before selling, according to Miami-Dade County records. They paid $1.875 million for it in 2001, which breaks down to $58.70 per square foot of land. Now, it sold for $282 per square foot.

The buyer is an LLC named after the property’s address. Corporate records don’t show a managing member, but the buyer’s $5.9 million loan from Centennial Bank was signed by Eugene Zlatopolsky.

Zlatopolsky is the head of Boymelgreen Developers’ legal department in New York, according to his LinkedIn profile. Boymelgreen is a private real estate company that has recently run into legal trouble, including $50 million in court judgments filed against its head Jeshayahu “Shaya” Boymelgreen.

The Jills, a Coldwell Banker real estate team made up of Jill Hertzberg, Jill Eber, Felise Eber, Danny Hertzberg and Hillary Hertzberg, had the listing.