The Real Deal Miami

Miami Beach spec home hits market: $6.5M

Michael Capponi developed the waterfront property

October 23, 2015 06:00PM
By Ina Cordle

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2901 Flamingo Drive

A spec home on Flamingo Drive in Miami Beach was just listed for $6.495 million.

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Michael Capponi (Credit: Shawn Michael Lowe)

The newly built home, at 2901 Flamingo Drive, was developed by Michael Capponi, chairman and co-founder of Capponi Group Corp.

 It is being listed by Oren Alexander , co-founder of the Alexander Team at Douglas Elliman.

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Oren Alexander

“It’s within 500 yards of the Edition and the Faena,” Alexander told The Real Deal. “You can walk, because there is a walking bridge next to the property.”

The 6,700-square-foot home has six bedrooms, seven-and-a-half baths and 300 feet of water frontage on Indian Creek. Its features include a gourmet kosher kitchen, staff quarters, and a master suite with 13-foot ceilings, a private office, two balconies and a Jacuzzi. A separate guest home has a master suite and gym. Outdoors is a pool, infinity hot tub and private dock.

Miami-Dade property records still show the predecessor home, built in 1935, with 3,853 square feet.

Records show 2901 Flamingo Drive LLC, whose manager is Jose J. Iglesias, bought the property in May 2013 for $1.82 million.

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