A North Bay Road waterfront mansion formerly owned by two convicted tax evaders just sold for $18.5 million.
The 13,637-square-foot home at 5930 North Bay Road, known as Whitehall, sits on a 73,480-square-foot lot, with 200 feet of frontage on Biscayne Bay.
The seller is North Realty LLC, whose trustee is Christina Frohock, property records show. The buyer is Bay Road Property LLC, which lists its address as 118 Lee Avenue, Rockville Centre, New York. Bay Road Property bought the property for $262.50 per square foot for the land.
French banking agency CDR Creances S.A.S seized Whitehall in 2011 from its former owners Mauricio Cohen Assor and his son Leon Cohen-Levy, after a federal court convicted them of failing to disclose their ownership of the properties and other assets for tax purposes. The pair are currently serving a 10-year jail sentence for tax evasion.
Jill Eber and Jill Hertzberg of The Jills team at Coldwell Banker represented the seller and the buyer of the property.
The home has nine bedrooms and seven-and-a-half bathrooms. It features a custom-built 35-foot by 50-foot pool, a dock and jet-ski lift, helipad and private gated entry to the property.
The property was listed for $29.5 million when it went on the market in October 2015, but was lowered to $25 million in 2016, $23.5 million in August 2017 and $20.5 million in January. The latest sale price represents a 37 percent discount off the original asking price.