North Bay Road property sells for $10.2M

A waterfront residential property on Miami Beach’s exclusive North Bay Road sold for about $10.2 million, The Real Deal has learned.

Loma Blanca, a company registered in the Bahamas, closed the sale of the 2374 North Bay Road parcel on April 21, according to Miami-Dade County records. The deed identifies Josh Bennett as Loma’s attorney in fact. The 30,000-square-foot property last traded for nearly $1.3 million in 1999.

The buyer is 2374 North Bay Road LLP, a company registered in Delaware with a London mailing address. It received a $3.8 million loan from Stonegate Bank for the purchase.

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Miami homebuilder Bart Reines is identified in mortgage documents as manager of 2374 North Bay Road GP LLC, a general partner of the buying company. Reines includes the property in a list of “recent projects” on his construction firm’s website.

The 2374 North Bay Road price nearly matches the $10.5 million sale of a seven-bedroom home at 4750 North Bay Road on March 31. Sergio Rok, one of Miami’s largest property owners, also completed an expensive North Bay Road sale last month. A Rok-managed company sold a mansion at 2068 North Bay Road for $20.5 million on March 18.

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North Bay Road property sells for $10.2M

A waterfront residential property on Miami Beach’s exclusive North Bay Road sold for about $10.2 million, The Real Deal has learned.

Loma Blanca, a company registered in the Bahamas, closed the sale of the 2374 North Bay Road parcel on April 21, according to Miami-Dade County records. The deed identifies Josh Bennett as Loma’s attorney in fact. The 30,000-square-foot property last traded for nearly $1.3 million in 1999.

The buyer is 2374 North Bay Road LLP, a company registered in Delaware with a London mailing address. It received a $3.8 million loan from Stonegate Bank for the purchase.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

Miami homebuilder Bart Reines is identified in mortgage documents as manager of 2374 North Bay Road GP LLC, a general partner of the buying company. Reines includes the property in a list of “recent projects” on his construction firm’s website.

The 2374 North Bay Road price nearly matches the $10.5 million sale of a seven-bedroom home at 4750 North Bay Road on March 31. Sergio Rok, one of Miami’s largest property owners, also completed an expensive North Bay Road sale last month. A Rok-managed company sold a mansion at 2068 North Bay Road for $20.5 million on March 18.

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