The Real Deal Miami

Agent shuffle: owner of North Bay Road manse drops Tansey, hires the Jills

House went up for sale in 2014 after owner's death

May 16, 2016 11:15AM
By Sean Stewart-Muniz

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5310 North Bay Road

5310 North Bay Road

Same price, new listing agent.

The owner of a Miami Beach mansion that’s bounced around the market has dropped Douglas Elliman’s Darin Tansey in favor of the Jills from Coldwell Banker.

Italo de Melo, who owns the home at 5310 North Bay Road through a company called Unique Melo Holdings, hired the Jills last week to list his home at $15.999 million.

It’s a large two-story bayfront estate with 9,000 square feet of interior space, six bedrooms, nine bathrooms, Mediterranean-revival style and plush interior finishes. The floors are marble and hardwood, the second-floor master suite has its own balcony overlooking Biscayne Bay, and the chef’s kitchen is decked out with modern appliances.

De Melo is the eldest son of Walterci de Melo, the late Brazilian pharmaceutical mogul who chaired Laboratorio Teuro/Pfizer, one of Latin America’s largest medicinal manufacturers. He died in 2014 after suffering a heart attack, according to reports in multiple Brazilian publications.

Walterci de Melo was the original owner of 5310 North Bay Road, but ownership was transferred to Italo de Melo soon after his father’s death. The house went up for sale that same year. Its original asking price was $21 million, or $2,333 per square foot.

After three price cuts, Darin Tansey of Douglas Elliman took the reins in August 2015 with a fresh asking price of $17.5 million. But after 10 months and three more price chops, de Melo swapped him out for the Jills.

The current $15.999 million asking price did not change with this most recent swap. It breaks down to about $1,778 per square foot.