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

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

Dec.December 21, 2015 03:45 PM

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.

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.

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.”

Related Articles

A rendering of Palazzo Della Luna

After selling Wynwood property for megabucks, plumbing mogul buys luxury condo

Continuum unit 1106/1107 and Mark Sisson (Credit: Douglas Elliman and Getty Images)

Fitness expert bulks up with $13M condo in South Beach

Trust of Miami fashion college founder sells North Bay Road home for $10M

Sabby Management fund manager pays $10M for Palazzo Del Sol unit

Ex-wife of one of Fisher Island’s biggest developers buys $10M PH

Diamond in the rough? Diamond mogul lands sweet deal on Venetian Islands home

Tech exec lists Tahiti Beach estate in Coral Gables for $20M

Peebles wins appeal in lengthy legal battle against Dora Puig