The Real Deal Miami

Brazilian buyer nabs Golden Beach home on the Intracoastal for $6.25M

Broker calls sale price the highest in Golden Beach on the Intracoastal or canal in four years
By Ina Cordle | April 28, 2017 03:10PM

572 North Island Drive in Golden Beach and Alexander Goldstein

UPDATED May 1, 6:45 p.m.: A Brazilian buyer just paid $6.25 million for a home on the Intracoastal Waterway in Golden Beach, dubbed “Villa D’Amore,” The Real Deal has learned.

Alexander Goldstein, CEO of Miles Goldstein Real Estate, told TRD he represented the sellers of 572 North Island Drive. According to Miami-Dade property records, the sellers are Izac and Abby Ben Shmuel, with a New York address. They paid $1.7 million for the property in 2004, records show.

Goldstein said he took over the $7.25 million listing for the 7,261-square-foot home in February. The sale price equates to $861 per square foot, a 14 percent discount from its asking price.

Goldstein called the price the highest for a waterfront home on the Intracoastal or a canal in Golden Beach in the last four years. Oceanfront homes command much higher sums.

“Its a remarkable number for the [non-ocean] water in Golden Beach, and we’re expecting this to continue to go up,” he said.

The Brazilian buyer, who he declined to name, intends to use the home for vacations, Goldstein said. The buyer was represented by Rafaela Silveira of Chris Brooks Realty. The sale has not yet cleared records.

Custom built in 2007, the house has seven-bedrooms, six-and-a-half bathrooms, an elevator and a gym.

Nearby in Golden Beach, retired Major League Baseball slugger Sammy Sosa sold his oceanfront mansion at 667 Ocean Boulevard last March. Goldstein co-brokered the $9.15 million off-market deal. Stuart Drossner of Drossner Realty Inc. represented the buyer.

Other Golden Beach homes have hit the market recently. In February, Tommy Hilfiger put his oceanfront mansion at 605 Ocean Boulevard on the market for $27.5 million with Coldwell Banker’s the Jills.

Late late last year, a 10,530-square-foot house at 170 South Island Drive, on the Intracoastal, hit the market for $14.95 million. The asking price breaks down to $1,420 per square foot. And the Jills reduced the asking price for 387 Ocean Boulevard from $42.5 million to $29 million or $2,500 per square foot. The 10-bedroom, 11,600-square-foot oceanfront mansion sits on a 1.44-acre lot and is owned by the estate of the late South Florida philanthropist Barbara Schlesinger.