Rubell, Simkins finance their Miami Beach manse with $6.7M loan

Miami /
Mar.March 30, 2016 05:15 PM

Jason Rubell and Michelle Simkins, a South Florida power couple known for their ties to art and real estate, just financed their newly built waterfront mansion on Miami Beach with a $6.73 million loan.

The loan was issued by Bank of America, county records show. It covers the home at 510 Lakeview Court on the Flamingo Waterway between Lake Surprise and the Intracoastal in Mid-Beach. Developer Todd Glaser, who has had a hand in developing many of the contemporary mansions that now populate some of Miami Beach’s ritziest neighborhoods, was the builder.

Rubell and Simkins’ home is a two-story residence with six bedrooms, five bathrooms, two half-baths. It occupies most of the three-quarter-acre lot it sits on, with the extra space going to a waterfront pool and private tennis court.

Planned by Domo Architecture + Design, the home has an angular shape that runs parallel to the lot lines, unlike the neighboring properties.

Rubell has owned the property since 1998, when he paid $800,000 for what was then a mid-century home. In late 2014, he and Simkins razed the existing home and began construction of the new mansion in the beginning of 2015, county records show.

The Rubell family is known for its extensive art collection, which is reportedly one of the largest private contemporary art assemblages in existence. Jason Rubell is also involved in Rubell Hotels, which owns the Albion Hotel in Miami Beach.

His wife Michelle is the daughter of Leon Simkins, CEO of Simkins Industries, a paper products company headquartered in Miami Beach.

A company tied to Rubell bought a warehouse in Allapattah for $8.4 million two weeks ago. The neighborhood has been eyed by some real estate players as one of Miami-Dade County’s newest hot spots for investment and development.


Related Articles

arrow_forward_ios
Todd Glaser (Compass)
Todd Glaser flips Palm Beach home under construction for $28M
Todd Glaser flips Palm Beach home under construction for $28M
Jeffrey Epstein and 358 El Brillo Way (Getty, Corcoran Group)
Jeffrey Epstein’s Palm Beach house sells for $19M
Jeffrey Epstein’s Palm Beach house sells for $19M
Todd Michael Glaser and Billy Joel with 4640 North Bay Road (Getty, Glaser by Mary Beth Koeth, Todd Michael Glaser)
Uptown world: Todd Glaser buys Billy Joel’s former Miami Beach home
Uptown world: Todd Glaser buys Billy Joel’s former Miami Beach home
1420 West 23rd Street with Rony Seikaly and Todd Glaser (Seikaly via Getty; Glaser by Mary Beth Koeth)
Todd Glaser, Rony Seikaly sell waterfront Sunset Islands mansion to VC investor
Todd Glaser, Rony Seikaly sell waterfront Sunset Islands mansion to VC investor
Todd Glaser with aerial view of 870 South Ocean Boulevard in Palm Beach. (Google Maps, Mary Beth Koeth)
Todd Glaser, partners close on Palm Beach home across from ocean for $13M
Todd Glaser, partners close on Palm Beach home across from ocean for $13M
237 Brazilian Avenue with Todd Glaser and Stephen and Petra Levin (Getty, Glaser by Mary Beth Koeth; property photo courtesy of Todd Michael Glaser)
Gold Coast Beverage Distributors founder buys Palm Beach townhomes
Gold Coast Beverage Distributors founder buys Palm Beach townhomes
Jeffrey Epstein and 358 El Brillo Way (Getty, Corcoran Group)
Jeffrey Epstein’s Palm Beach house under contract
Jeffrey Epstein’s Palm Beach house under contract
1500 West 21st Street and Todd Glaser (Glaser by Mary Beth Koeth, Todd Michael Glaser)
Todd Glaser buys waterfront Sunset Islands home with plans to list it for $10M
Todd Glaser buys waterfront Sunset Islands home with plans to list it for $10M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...