Former chairman of Live Nation puts his Key Biscayne estate on the auction block

It was listed for $36M

960 Harbor Drive and Billy Nash (Credit: Keyes Company)
960 Harbor Drive and Billy Nash (Credit: Keyes Company)

UPDATED April 9, 6:35 p.m.: Canadian concert promoter and producer Michael Cohl is putting his Key Biscayne compound, once listed for $36 million, up for auction with no reserve.

The former chairman of Live Nation and the founder of SB2N Entertainment listed his 1.67-acre estate at 960 Harbor Drive with Billy Nash of the Nash Group at Keyes Company last year.

New York-based Concierge Auctions will conduct the auction, which requires a $100,000 deposit.

Bidding will begin April 26 and end April 30. Pre-registered bidders will receive a 6 percent credit at the closing, Nash said.

Records show the Harbor Drive estate last traded for $5.7 million in 1998. It sits on a peninsula fronting Bill Baggs Cape Florida State Park.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

The 12,520-square-foot home includes nine bedrooms and 11 bathrooms, a 16-seat private theater and a fully-equipped exercise studio. Other features include an open-air cabana, a tennis court and a private beach with 750 feet of water frontage and two docks that can accommodate a yacht up to 100 feet.

Nash said the pace of sales activity is picking back on Key Biscayne after a slow three years.

“I think the assets on Key Biscayne have been overpriced, so what we’re doing is adjusting to the market,” he said.

Correction: A previous version of this story had an incorrect date for the bidding to end and an incorrect size for the two docks.