The Real Deal Miami

Newly built waterfront house in Miami Beach sells for $15M

Owners razed property's Spanish style home and put up new two-story manse

December 21, 2015 03:45PM
By Sean Stewart-Muniz

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The home at 303 East Rivo Alto Drive in Miami Beach

The home at 303 East Rivo Alto Drive in Miami Beach

The owners of a newly built home on Rivo Alto Island in Miami Beach just sold their property for $14.5 million.

Located at 303 East Rivo Alto Drive, the waterfront residence was finished earlier this year by owners Stephen and Athena Bradway.

Dora Puig of Luxe Living Realty

Dora Puig of Luxe Living Realty

It’s contemporary in style and features a wide open floor plan, outdoor pool, floor-to-ceiling glass windows and a wood deck overlooking 60 feet of water frontage.
Dora Puig of Luxe Living Realty represented the sellers, who she said had been on the fence about getting rid of their custom-built house.

Horacio LeDon of Douglas Elliman

Horacio LeDon of Douglas Elliman

On the other side of this off-market deal was Horacio LeDon of Douglas Elliman, who brought the buyers: two New York clients who are finally taking the plunge on moving to Florida after several years of discussion. He declined to name them, and the sale has not yet cleared public records so their identities are unknown.

“They’re big fans of architecture and design,” LeDon said. “They definitely skew toward contemporary.”

The house has 6,182 square feet of interior space, so this sale breaks down to a whopping $2,345 per square foot.

The Bradways paid $1.625 million for 393 East Rivo Alto Drive in 2010, according to Miami-Dade County property records. At that time, the property was a Spanish-style home that was built in the 1940s and measured 2,907 square feet.

Puig said the Bradways originally renovated that home, but eventually decided to raze it instead and build the new two-story contemporary house.

“In Miami Beach, design pays,” Puig said. “The finishes are stunning.”

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