Developer Ron Simkins buys waterfront spec home in Miami Beach
It sold for 40% off 2016 asking price
Innovate Development Group’s Ron Simkins just bought himself a Miami Beach home for $7.5 million – a nearly 40 percent discount off the 2016 asking price.
On One Group, led by Emilio Cubero and Sergio Artigues, sold the 8,900-square-foot mansion at 820 Lakeview Drive to Simkins. Simkins co-founded Innovate Development Group with his brother, Michael Simkins, and is chief operating officer of the firm.
Cubero and Artigues paid about $3 million for the Mid-Miami Beach property in 2015. Their company builds luxury homes in South Florida, according to On One Group’s website.
The house hit the market in March 2016 for $12.5 million, and was most recently listed with Nelson Gonzalez of EWM Realty International for just under $9 million. Features include 16-foot ceilings, a wine cellar, separate guesthouse, pool, Jacuzzi and outdoor kitchen.
Julijana Rose from The Nelson Gonzalez Team at EWM Realty represented Simkins.
Innovate’s projects include 10-acre Miami Innovation District in Park West, just west of Miami Worldcenter. The site was among the eight locations in South Florida pitched to Amazon for its second headquarters.