North Bay Road property sells for $10.2M

Miami /
Apr.April 28, 2014 11:15 AM

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.

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.


Related Articles

arrow_forward_ios
A rendering of the Byron Carlyle Cultural Center, Jared Galbut and Keith Menin (Miami Beach City Commission, Google Maps)
It’s curtains for Galbut family-led proposal to redevelop Byron Carlyle Theater
It’s curtains for Galbut family-led proposal to redevelop Byron Carlyle Theater
James Star and The Caribbean at 3737 Collins Avenue in Miami Beach (Photos via Google Maps; Chewy)
Finance mogul linked to Crown family buys Miami Beach penthouse and cabana for $13M
Finance mogul linked to Crown family buys Miami Beach penthouse and cabana for $13M
 Matthew Whitman Lazenby with 7825 Atlantic Way (Blue Ocean Photography, iStock)
Bal Harbour Shops owner upgrades to oceanfront estate in Miami Beach
Bal Harbour Shops owner upgrades to oceanfront estate in Miami Beach
46 Star Island Drive (Google Maps)
Iacovelli finds a buyer for his Star Island mansion once asking $65M
Iacovelli finds a buyer for his Star Island mansion once asking $65M
Westime owner Jean Simonian and Washington Park Hotel. (Facebook via Westime and Washington Park Hotel)
Ladder Capital sells Witkoff’s Miami Beach hotel for $44M
Ladder Capital sells Witkoff’s Miami Beach hotel for $44M
Don Peebles and the Bath Club (Getty, Peebles Corp.)
Judge slaps Don Peebles’ Bath Club Entertainment with $1M in sanctions
Judge slaps Don Peebles’ Bath Club Entertainment with $1M in sanctions
Vlad Doronin, Len Blavatnik and a rendering of Aman Miami Beach (Getty)
Aman Miami Beach secures another approval tied to luxury hotel and condo project
Aman Miami Beach secures another approval tied to luxury hotel and condo project
(Google Maps, Ritz Carlton)
Miami-Dade condo sales and dollar volume dip in mid-February
Miami-Dade condo sales and dollar volume dip in mid-February
arrow_forward_ios

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

Loading...