Award-winning singer-songwriter Phil Collins is the new owner of Jennifer Lopez’s former North Bay Road manse, paying a whopping $33 million for the property.
Healthcare executive Mark Gainor and his wife were the sellers of the waterfront Miami Beach estate at 5800 North Bay Road, according to EWM/Christie’s International Real Estate. EWM’s Nelson Gonzalez represented the couple. Mathieu Rochette of Barclay’s Real Estate Group represented the buyer.
Lopez initially sold the 1.2-acre property in 2005 to Gainor for $13.9 million, according to Miami-Dade property records. Collins closed on the sale on Monday, the Wall Street Journal first reported.
The 12,153-square-foot mansion includes seven bedrooms, eight full baths, three half-baths, a pool and Jacuzzi. It was built in 1929 and features 200 feet of Biscayne Bay frontage. It sold for more than $2,700 per square foot.
“This property has long been a standout in the marketplace … and a sale of this magnitude – surpassing the 30-million-dollar threshold – further demonstrates the draw of Miami Beach to interested buyers from across the United States and around the world,” Gonzalez said in a statement.
Earlier this month, famous fashion designer Calvin Klein listed his waterfront Miami Beach home down the road at 4452 North Bay Road in Miami Beach for $16 million.