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

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.