Harvey Hernandez sells his Brickell penthouse for $5.3M

Penthouse sold at a 23% discount off the original asking price

Miami /
Aug.August 18, 2017 01:45 PM

Developer Harvey Hernandez sold his Jade Brickell penthouse for $5.3 million.

Hernandez, president and CEO of Newgard Development Group, sold the two-story, 4,500-square-foot unit at 1331 Brickell Bay Drive, according to the agents who arranged the deal. It traded for $1,778 per square foot.

Penthouse 4707 was renovated by Urban Root Associates and features a rooftop terrace, European oak floors, Boffi fixtures, a Poliform kitchen, Lualdi Italian doors, and a leather-wrapped private elevator foyer. It hit the market in January for $6.95 million and was later reduced to $6.5 million. The penthouse sold at a 23 percent discount off the original asking price.

Hernandez, who planned to include a Tesla Model X in the sale, did not include the electric car because it sold for under the asking price, listing agent Brett Harris of Douglas Elliman said.

Gary Lazarus and Monte Levin of Fortune International Realty represented the buyer, whom they declined to identify. The deed has not yet been recorded.

Hernandez bought the unit from J.J. Rendon, a political consultant, psychologist and political activist in Latin America. Records show he paid $4 million for the penthouse in 2015.

Newgard is based at 1330 Brickell Bay Drive –  which was a short commute for Hernandez. The Miami-based developer recently completed Centro, a mid-priced condo tower in downtown Miami and is building the Gale Hotel & Residences Fort Lauderdale Beach.

Hernandez is looking to buy a waterfront property in Miami Beach where he can have his boats, Harris said.

Tennis champ Andy Murray recently sold his Jade Brickell unit for $2.4 million after more than two years on the market.


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
(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
Harvey Hernandez and Centro Miami at 151 Southeast First Street (Centro NGD Holdings, Brickell.com, iStock)
Harvey Hernandez’s condo company files for bankruptcy to stave off foreclosure
Harvey Hernandez’s condo company files for bankruptcy to stave off foreclosure
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: Harvey Hernandez and Cindy Diffenderfer (NGD Homesharing, Newgard Group, iStock)
Harvey Hernandez’s NGD Homesharing hit with $963K judgment
Harvey Hernandez’s NGD Homesharing hit with $963K judgment
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
arrow_forward_ios

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

Loading...