Coastal Construction scion sells Miami Beach home to Reed Smith partner for $9.6M

Waterfront mansion sold for a 26% discount off the original asking price

Miami /
Aug.August 03, 2017 12:00 PM

Coastal Construction’s Tom and Suzanne Murphy just sold their waterfront Miami Beach home to a partner in a New York City law firm for $9.6 million, property records show.

Reed Smith attorney Constantine Karides and his wife, Angela, purchased the property at 5045 Lakeview Drive. The Murphys, of the Coastal Construction family, listed the mid-century mansion at 5045 Lakeview Drive for $12.9 million last year with Coldwell Banker’s The Jills. It sold for a 26 percent discount off the original asking price.

A Redfin listing shows the Jills reduced the price to $11.4 million in June.

Tom is co-president of the construction firm and Suzanne is project manager. They could not immediately be reached for comment. Bobby Jones of Compass represented the buyers.

Constantine Karides is a partner in the law firm’s financial industry group, according to Reed Smith’s website.

Records show the Murphys paid $2.8 million for the home in 2012. That means they sold it for more than three times what they paid five years ago.

The couple renovated the 8,300-square-foot, six-bedroom house in 2014 with white marble floors, Calacatta Gold marble countertops in the kitchen and modern appliances. It sits on a 33,150-square-foot lot with a dock, waterfront pool and staff quarters.

Coastal Construction, one of the most active general contractors in South Florida ranked No. 2 on The Real Deal’s ranking of firms by number of employees.


Related Articles

arrow_forward_ios
Hassan Whiteside and 528 Lakeview Court in Miami Beach (Getty, Joe Azar/Compass)
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
From left: Douglas Elliman's Julian Cohen and CEO Jay Parker (Getty Images, Douglas Elliman, iStock)
Miami Beach agent Julian Cohen returns to Douglas Elliman
Miami Beach agent Julian Cohen returns to Douglas Elliman
(ONE Sotheby's Realty)
Former mayor George “Bud” Scholl’s waterfront home hits market for $13.9M
Former mayor George “Bud” Scholl’s waterfront home hits market for $13.9M
Home prices notched record-shattering growth in 2021, but slowdown is likely
Home prices notched record-shattering growth in 2021, but slowdown is likely
Home prices notched record-shattering growth in 2021, but slowdown is likely
6315 11th Ave Gulfport (iStock, Heckler Realty Group, Illustration by Shea Monahan for the Real Deal)
Tampa-area home billed as first in US to be sold as an NFT
Tampa-area home billed as first in US to be sold as an NFT
From left: 1840 South Ocean Boulevard, 1341 South Ocean Boulevard and 2000 South Ocean Boulevard
These were South Florida’s largest resi sales of 2021
These were South Florida’s largest resi sales of 2021
Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
Now streaming: TRD’s podcast Deconstruct on what’s next for Surfside
Now streaming: TRD’s podcast Deconstruct on what’s next for Surfside
Now streaming: TRD’s podcast Deconstruct on what’s next for Surfside
arrow_forward_ios

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

Loading...