The Real Deal Miami

Waterfront North Bay Road estate listed for $30M

New listing is a $2M price chop from last year

May 11, 2016 03:05PM

  • Print
4730 North Bay Road in Miami Beach

4730 North Bay Road in Miami Beach

A new neoclassical-style estate on Miami Beach’s North Bay Road has been relisted for $30 million with a new brokerage, Coldwell Banker’s the Jills team. 

The two-story, bayfront mansion is owned by Peter J. Neary, a Miami Beach property owner and investor. ONE Sotheby’s International Realty previously held the listing for 4730 North Bay Road, and put it on the market for nearly $32 million in May 2015.

The 11,622-square-foot home, built in 2015, sits on a 26,000-square-foot lot with 130 feet of water frontage, a keystone deck, 55-foot salt-system pool, a 50-foot Ipe wood dock and a covered waterfront cabana.

Neary paid $6.1 million for the lot in 2012, and before that it was owned by David and Gita Galbut. He developed the seven-bedroom, eight-bathroom estate, which has French limestone and European white oak floors, a winding limestone staircase, a gas fireplace, and a chef’s kitchen with high-end appliances. The property’s bedroom suites feature walk-in closets, Carrera marble rain showers and Waterworks fixtures. Amenities include a temperature-controlled wine room, elevator and movie theater that seats up to 12.

The Jills, led by Jill Hertzberg and Jill Eber, recently lost the listing for the waterfront lot at 5840 North Bay Road to Douglas Elliman’s Oren Alexander and the Alexander Team. The pricey neighborhood has been home to a number of A-list celebrities, including Matt Damon, Ricky Martin and Shakira. Last year, Phil Collins bought Jennifer Lopez’s former home at 5800 North Bay Road for $33 million. – Katherine Kallergis