The Real Deal Miami

Sunset Islands mansion to hit market at $26M

Kobi Karp-designed estate last sold for $15.5M in 2013

October 20, 2015 03:45PM
By Katherine Kallergis

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1435 West 27th Street in Miami Beach

1435 West 27th Street in Miami Beach

A waterfront mansion on Miami Beach’s gated Sunset Islands will be listed for $26 million, or about $2,500 per square foot, The Real Deal has learned.

Kobi Karp designed the estate at 1435 West 27th Street. Luxury Miami Beach homebuilder Bart Reines completed the 10,500-square-foot mansion in 2013, listing agent Melissa Rubin told TRD. It will hit the market on Nov. 1.

The home, on Sunset Island II, has six bedrooms, seven bathrooms, two half-baths and staff quarters. Sofia Joelsson of SOJO Design redesigned the interiors. Rubin, of Platinum Properties International, said she expects to sell the property, which sits on a 20,000-square-foot lot, fully furnished.

Rubin and co-listing broker Miguel Flores are targeting hedge funders and other financial executives. “We believe our buyer will come from New York,” she said. “Our prices are still inexpensive in comparison to what they would pay in the Hamptons.”

The property features 100 feet of bay frontage, a zen garden with a koi pond, Gaggenau appliances and a 500-bottle wine cellar. The master bedroom suite has its own waterfront private terrace, custom office, bathroom, closets and laundry room, Rubin said. A downstairs suite can be used as a home theater or extra bedroom.

It last sold for $15.5 million in 2013, according to Miami-Dade County property records. The Peter D. Aloia trust owns the home.

Last week, Miami Beach city commissioners agreed to send an ordinance that reduces the size of single-family homes to the city’s planning board for consideration. The controversial ordinance would reduce the maximum lot coverage from 30 percent to 25 percent in all single-family districts. It would also reduce the maximum unit size of a lot from 50 percent to 45 percent.

“If that goes through, you will never be able to build a house of this size on that lot,” Rubin said.

In August, Bart Reines paid $8.2 million for another property on the Sunset Islands. Reines also sold a waterfront lot on North Bay Road for $17 million to an affiliate of Starwood Capital Group in June.

An earlier version of this story incorrectly stated that the property was on the market for $22 million. It’s being listed for $26 million.