The Real Deal Miami

Knoxville investment firm sells North Bay Road estate

Nearly half-acre property last sold for $4M in 2011
3026 North Bay Road

3026 North Bay Road

A Mediterranean-style waterfront home in Miami Beach has sold for $7.75 million, Miami-Dade County records show.

Starboard Florida V, an LLC tied to Knoxville, Tennessee-based Quintium Advisors, sold the 20,500-square-foot estate at 3026 North Bay Road to John Blumberg and Dana Blumberg last week.

The six-bedroom, seven-bathroom and one-half-bath home is two stories tall and was built in 1940. It features a state of the art kitchen, library, master suite with a marble bath overlooking the bay, infinity pool, and 100 feet of water frontage, according to the listing. Jill Eber and Jill Hertzberg of Coldwell Banker’s The Jills, along with Alyssa Brinegar, also of Coldwell Banker, represented the sale. Eber declined to comment on the buyer to The Real Deal, citing a confidentiality agreement.

The 6,378-square-foot home was on the market for $7.9 million before the Blumbergs closed on the sale, and it last sold for $4 million in May 2011, according to Miami-Dade property records. John Blumberg is principal of Black Creek Group, a Denver-based real estate investment firm.

Todd Kidd, managing director of Quintium, signed the transfer of ownership. The company is a registered investment adviser managing investments in both public and private securities, according to Kidd’s LinkedIn profile. Quintium has about $170 million of total assets under management.