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Residential
South Florida

Developer Ron Simkins buys waterfront spec home in Miami Beach

It sold for 40% off 2016 asking price

820 Lakeview Drive and Innovate Development Group's Ron Simkins (Credit: Innovate Miami and Redfin)
820 Lakeview Drive and Innovate Development Group's Ron Simkins (Credit: Innovate Miami and Redfin)

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.

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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.

Tags
Miami BeachSpec Homes