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

5045 Lakeview Drive in Miami Beach
5045 Lakeview Drive in Miami Beach

Tom Murphy

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.

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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.