Steven Witkoff sells second Star Island property in less than a month

Miami /
Mar.March 28, 2012 06:00 PM

New York investor Steven Witkoff has sold his lot at 36 Star Island Drive in Miami Beach for $8.5 million, less than a month after he sold the adjacent 35 Star Island property for an identical price, The Real Deal has learned.

The property was purchased by an undisclosed buyer late Tuesday night.

It was not the same buyer as the initial property, which was purchased by a limited liability company, according to Douglas Elliman Florida.

“This lot was sold 10 days after it was listed,” said Vanessa Grout, CEO of Douglas Elliman Florida, which had the listing through a management referral.

“Star Island continues to be a major focal point of the luxury market,” she said. “There is low inventory, and that’s because of incredible demand right now in the luxury side of the market.”

Witkoff, the president and founder of the New York-based Witkoff Group, owned both lots through a limited liability company called Rex II, whose address is listed as 220 East 42nd Street in New York City.

Witkoff could not be reached for comment.


Related Articles

arrow_forward_ios
Gus Rubio out at Douglas Elliman, months after promotion to president
Gus Rubio out at Douglas Elliman, months after promotion to president
Gus Rubio out at Douglas Elliman, months after promotion to president
Douglas Elliman agent Oliver Lloyd buys waterfront Miami Beach teardown
Douglas Elliman agent Oliver Lloyd buys waterfront Miami Beach teardown
Douglas Elliman agent Oliver Lloyd buys waterfront Miami Beach teardown
Tara West joins Compass to manage new developments in Florida
Tara West joins Compass to manage new developments in Florida
Tara West joins Compass to manage new developments in Florida
Investors buy Palm Beach office building for $38M
Investors buy Palm Beach office building for $38M
Investors buy Palm Beach office building for $38M
I’ll take it: David Martin sells waterfront Miami Beach home to his listing agent
I’ll take it: David Martin sells waterfront Miami Beach home to his listing agent
I’ll take it: David Martin sells waterfront Miami Beach home to his listing agent
Michael Lawler, Howard Lorber and Jay Parker (Getty)
Douglas Elliman expands to Naples, brings on top Sotheby’s agent Michael Lawler
Douglas Elliman expands to Naples, brings on top Sotheby’s agent Michael Lawler
Samantha Curry and Holly Parker (Getty, Parker)
Top Douglas Elliman NY team expands to South Florida
Top Douglas Elliman NY team expands to South Florida
Miami has seen a constant stream of sales over the past several months (Getty)
Skyrocketing Q2 resi sales leave little inventory in South Florida: Elliman
Skyrocketing Q2 resi sales leave little inventory in South Florida: Elliman
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...