Sonny Kahn buys neighboring Golden Beach oceanfront property for a big markdown

Crescent Heights developer now controls 1.4 acres of beachfront land

115 Ocean Boulevard, agents Lucrecia Lindemann, Alexander Goldstein and Melissa Barragan
115 Ocean Boulevard, agents Lucrecia Lindemann, Alexander Goldstein and Melissa Barragan

Billionaire developer Sonny Kahn just paid $14 million for an oceanfront teardown next to his home in Golden Beach.

The 42,750-square-foot property at 115 Ocean Boulevard was originally listed for $24.9 million, which means it sold for a 44 percent discount off the asking price. It was later reduced to $19.9 million. Lucrecia Lindemann and Melissa Barragan of Dezer Platinum Realty represented the seller, and Alexander Goldstein of Miles Goldstein Real Estate represented the buyer.

Records show EJNRA Ltd., managed by Kahn, bought the 7,500-square-foot home from Piacere Ocean LLC, which is controlled by attorney Irina Nemtsev on behalf of Rafail Meerovitsch.

Kahn co-founded Crescent Heights, a Miami-based development company, with Russell Galbut and Bruce Menin. The company is a prolific developer in Miami and Miami Beach, as well as in Los Angeles, Seattle and Chicago. In Miami Beach, Crescent is currently developing the Wave, a mixed-use project at 600 and 700 Alton Road.

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Kahn and his wife, Suzanne Passi Kahn, own the home next door at 105 Ocean Boulevard in Golden Beach, according to property records. They paid about $6.6 million for that property in 2009. It includes a 5,200-square-foot home that was built in 1956 on a nearly 18,000-square-foot lot.

Together, Kahn now owns nearly 1.4 contiguous acres on Golden Beach and more than 210 feet of oceanfront. They also own a waterfront mansion on North Bay Road in Miami Beach.

Residents of Golden Beach, an exclusive waterfront enclave in north Miami-Dade with access to a private beach, include the likes of Bruce Weber, Tommy Hilfiger and Mexican billionaire Carlos Slim.

Kahn’s assemblage is one parcel home away from Regalia, a 39-story luxury condo tower in Sunny Isles Beach that was completed in 2014.