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 and Tarpon Island in Palm Beach (Google Maps, Getty)
Todd Glaser and partners list Palm Beach’s Tarpon Island for $218M
Todd Glaser and partners list Palm Beach’s Tarpon Island for $218M
Jonathan Fryd, Scott Robins, and Todd Glaser with 6505 Allison Road (Getty Images, Scott Robins Companies, Sonya Revell, Google Maps)
Glaser, partners buy waterfront Miami Beach lot at discounted price
Glaser, partners buy waterfront Miami Beach lot at discounted price
Todd Michael Glaser and Nelson Gonzalez with 31 La Gorce Circle (Sonya Revell, Nelson Gonzalez)
Glaser, partners buy non-waterfront La Gorce teardown for $8M
Glaser, partners buy non-waterfront La Gorce teardown for $8M
Todd and Kim Glaser with 125 Via Del Lago in Palm Beach (Google Maps, Illustration by Priyanka Modi for The Real Deal with Getty)
Seller’s remorse? Developer Todd Glaser buys back Palm Beach mansion for $23M
Seller’s remorse? Developer Todd Glaser buys back Palm Beach mansion for $23M
Bain Capital's Paul Edgerley and Todd Glaser with 215 Indian Road (Bain Capital Private Equity, Google Maps, iStock)
Todd Glaser flips Palm Beach home to Bain Capital adviser
Todd Glaser flips Palm Beach home to Bain Capital adviser
Todd Michael Glaser; 1320 North Lake Way and 576 Island Drive (Todd Michael Glaser, Realtor, iStock)
Todd Glaser, partners flip two waterfront Palm Beach estates for $70M
Todd Glaser, partners flip two waterfront Palm Beach estates for $70M
Todd Michael Glaser and Tim Hardaway Jr. with 6015 North Bay Road (Getty, iStock, Illustration by Shea Monahan for the Real Deal)
Tim Hardaway Jr. buys non-waterfront spec home in Miami Beach
Tim Hardaway Jr. buys non-waterfront spec home in Miami Beach
Tommy Hilfiger (left) and Steve Wynn (Getty Images, Photo-illustration by Paul Dilakian/The Real Deal)
Sellers of luxury homes gain from South Florida’s flipping frenzy
Sellers of luxury homes gain from South Florida’s flipping frenzy
arrow_forward_ios

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

Loading...