Spec manse on North Bay Road sells for $16.5M, nearly 30% off original ask

Felix Cohen built the waterfront 11,500 sf Miami Beach home

3114 North Bay Road
3114 North Bay Road

UPDATED, 11:55 a.m., Dec. 5: Shakira’s mom has a new neighbor.

A waterfront spec home on Miami Beach’s North Bay Road sold for $16.5 million in an all-cash deal, a nearly 30 percent discount off the 2016 asking price, The Real Deal has learned. Property records reveal the buyers are Eric and Kimberly Dalius. Eric, a marketing executive, has been tied to alleged pyramid schemes, according to published news reports.

Spec home developer Felix Cohen built and sold the 11,500-square-foot mansion at 3114 North Bay Road. His sons, Julian and Jacques Cohen of Compass, co-listed the property. Alison Zhuk of Douglas Elliman represented the buyer.

The Cohens listed the property in February 2016 for $22.9 million. It was last on the market for $18.5 million, according to Realtor.com. Records show her neighbor is an LLC managed by Shakira’s mother, Nidia Ripoll.

“Everybody wanted these high numbers, but what I found, which I was trying to convey to the seller, is you have to price it really competitively to [sell],” Julian Cohen said. After he reduced the price in October, he got it under contract within three weeks.

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3114 North Bay Road

Luxury spec homes have lingered on the market and seen price cuts, as high-end, waterfront properties experience a slowdown in sales, especially in Miami-Dade. In April, the spec house at 6466 North Bay Road sold for $20 million. It was listed for more than a year at $25.5 million.

The seven-bedroom home at 3114 North Bay Road has two living rooms, a wine cellar, library, dining room, media room, elevator, and a 2,500-square-foot rooftop garden with views of Biscayne Bay and downtown Miami. The spec home developer also built 3 Indian Creek – a 30,000-square-foot mansion that set a record for single-family home sales in Miami-Dade at the time when it sold for $47 million in 2012.

3114 North Bay Road

The property also features Versaille pattern oak floors, a matte black Italian kitchen, a catering kitchen, smart home technology, a custom lighting system and rose gold shower fixtures, according to a press release.

Property records show the lot last sold for $8.4 million in 2014.

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