Michael Stern buys waterfront home on North Bay Road in Miami Beach

Developer paid $10.5M for 39K sf lot

TRD MIAMI /
May.May 10, 2018 04:30 PM

North Bay Road and Michael Stern

New York developer Michael Stern is putting down roots in South Florida.

Stern, of JDS Development, paid $10.5 million for a waterfront property on North Bay Road in Miami Beach, sources said. The four-bedroom, nearly 5,500-square-foot home, likely a teardown, sits on a nearly 40,000-square-foot lot.

The property has 155 feet of water frontage, according to the listing. Alex Daguer of Fortune International Realty was the listing agent, according to Redfin. Daguer has been accused of bringing fake buyers and taking listings from agents.

Liz Hogan of Compass brought the buyer. She declined to comment.

Property records show the estate of Joan O. Keller sold the home, built in 1967. Keller passed away in December. Previous sales information was not available online.

Stern is building Monad Terrace, a 59-unit luxury condo development at 1300 Monad Terrace in South Beach. He recently closed on a $137 million construction loan for the project.

Stern could not immediately be reached for comment.

The pricey street is also home to Dwyane Wade, Chris Bosh, Phil Collins and Barry Sternlicht.


Related Articles

arrow_forward_ios
David Martin, Russell Galbut, and a 500 Alton rendering (Credit: The Next Miami)

Miami Beach, Crescent Heights, Terra agree to settle dispute over floor-to-area calculations

Amir Zwickel and a Showfields store

Showfields to bring new retail concept to Lincoln Road

David Arditi of Aria Development Group and 321 Ocean

Condo association alleges construction defects at 321 Ocean: lawsuit

Julian Cohen and a rendering of the project

Felix and Julian Cohen propose waterfront spec mansion on North Bay Road

1452 Washington Avenue (Credit: Google Maps, iStock)

Spanish investor buys mixed-use building near Española Way

Joseph Menaged with his units at Faena House and One57 (Credit: Facebook, Redfin, StreetEasy)

Father of “Property Wars” star pleads guilty to bank fraud

Russell Galbut and the Shelborne South Beach

Russell Galbut, WP Carey sell Shelborne South Beach

Clark Construction CEO Robert Moser Jr., Miami Beach City Manager Jimmy Morales and Miami Beach Convention Center (Credit: iStock, Google Maps)

Miami Beach Convention Center contractor sues city, alleging $90M in unpaid work

arrow_forward_ios
Loading...