Bal Harbour spec home re-lists for $5M, down from $6M

Felix Cohen, who co-developed the record-setting 3 Indian Creek Island mansion that sold for $47 million in 2012, has listed a newly constructed spec home in Bal Harbour for $5 million.

The contemporary-style home, at 133 Camden Drive in the gated Bal Harbour Village community, was previously listed for $5.95 million a year ago, while it was still under construction, said Julian Cohen, a Realtor with Coldwell Banker who has the listing and who co-developed the property with his father Felix. After a deal to a Chilean buyer fell through, it was put back on the market for $4.995 million, he told The Real Deal. It is being sold furnished.

Designed by architect Ralph Choeff of Choeff Levy Fischman, the 6,000-square-foot home has seven bedrooms and six-and-a-half bathrooms, according to the listing. It features French oak and limestone flooring inside, Brazilan ipe wood outside, floor-to-ceiling sliding glass doors, a Crestron automation system and German Miele appliances. The price equate to $833 per square foot.

“The house was built to feel like a tropical oasis,” said Julian Cohen, citing landscaping that includes royal palms and bamboo. The property also includes marina and private beach access in Bal Harbour.

Felix Cohen, who has built three homes on Indian Creek Island — including 3 Indian Creek, which he co-developed with Shlomy Alexander that sold for $47 million — said he wanted to recreate that feeling of Indian Creek luxury in Bal Harbour, where he has also developed a waterfront home.

“A lot of people who came to see the [3 Indian Creek] house were not all billionaires, and I realized there was maybe a market for the $5 [million] to $6 million range,” said Felix Cohen, who owns the boutique Oxygene in Bal Harbour Shops.

“My gamble was that if I build an Indian Creek style house — of course not the same proportion, but the same kind of finishes — in a beautiful location… I think I will find a buyer for someone who doesn’t have $20 million to $30 million to buy a house on the water,” he told TRD.

Miami-Dade property records show Felix Cohen bought the property through a trust in December 2012 for $1.69 million. He tore down the house that was previously on the property, which was built in 1986.

Felix Cohen said he worked with Choeff on the new home’s design and started first with the landscaping, which he designed himself.

“It’s like lipstick on a woman. If you don’t put the lipstick on, its missing something,” he said. “It really finishes the house.”