North Bay Road property sells for $10.2M

Buyer of waterfront parcel managed by Miami homebuilder

TRD 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
802 West Dilido Drive with agents Dina Goldentayer and Miltiadis Kastanis (Credit: Douglas Elliman)

Developer gets $15.6M for Venetian Islands spec home

Todd Glaser, Rony Seikaly and a rendering of spec home at 1635 W 22nd Street (Credit: Mary Beth Koeth, Getty Images)

Todd Glaser, Rony Seikaly close on Miami Beach spec mansion

Jeffrey Soffer and Fontainebleau Miami Beach

Jeffrey Soffer scores $1.2B refi of Fontainebleau Miami Beach

The LaLanne exhibit at The Real Deal’s event in October

Michael Shvo to unveil tropical gardens with LaLanne exhibit at the Raleigh

Thomas O’Reilly, John Marshall, Ivan Chorney and Michael Martirena with Continuum North unit 1402/03 (Credit: Douglas Elliman and LinkedIn)

Tech entrepreneur sells Continuum unit to Neuberger Berman exec

Daily Digest Miami

Missoni Baia lands massive loan, Babylon Brickell owner sells Overtown property: Daily digest

Miami Beach loosens regulations for real estate developers and small businesses

Miami Beach relaxes rules on development, pools, restaurants

Rendering of Urbin Coconut Grove and Rishi Kapoor

Co-living venture Urbin expanding to Miami Beach

arrow_forward_ios