The Real Deal Miami

Waterfront Bal Harbour manse hits market with $24M ask

Home boasts formal dining room and grand entrance that opens up to bay views

October 07, 2016 01:30PM
By Sean Stewart-Muniz

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240 Bal Bay Drive

240 Bal Bay Drive

A Mediterranean-style mansion overlooking Biscayne Bay just became Bal Harbour’s fourth-most expensive listing with an asking price of $23.9 million.

Owners Vincent and Paulina Apice just put their seven-bedroom, eight-and-a-half-bathroom estate at 240 Bal Bay Drive for sale this week with listing agent Lourdes Alatriste of One Sotheby’s International Realty.

Pool deck

Pool deck

Alatriste told The Real Deal that the two-story home boasts Cathedral-style ceilings, a four-car garage, outdoor pool, dock, a formal dining room and a grand entrance that opens up to views of the bay.

She said the owner’s children have moved away to college, so it’s time to downsize.

“They want something more manageable,” Alatriste said.

With 8,844 square feet of living space, its asking price is $2,702 per square foot. That’s a slightly more expensive per-square-foot basis than Shlomi Alexander’s nearby spec house at 252 Bal Bay Drive, which is Bal Harbour’s priciest listing at $36 million, or $2,667 per foot.

The Apice family bought 240 Bal Bay Drive for $6.5 million in 2002, a year after it was built by developer Yair Oren, according to county records.