Jamie LeFrak, vice chairman and managing director of LeFrak, is the latest wealthy New York developer looking to put down roots in South Florida.
LeFrak is under contract to buy the spec mansion at 4567 Pine Tree Drive, The Real Deal has learned.
Jill Hertzberg of Coldwell Banker’s The Jills team is the listing agent. Hertzberg declined to comment on the buyer, but confirmed that the property is under contract for close to the nearly $21 million asking price.
It was developed by Barry Brodsky, owner of Brodson Construction, and completed in 2016. The six-bedroom, seven-bathroom home was designed by Marcio Kogan with interiors by Brazilian designer Jader Almeida and Artefacto, and landscaping by Raymond Jungles.
Jamie LeFrak could be following in his father’s footsteps. In January, Richard LeFrak closed on a penthouse at the Four Seasons Residences at The Surf Club in Surfside, a few months after selling his unit at the Setai in Miami Beach to DJ and music producer David Guetta.
A number of wealthy buyers have recently purchased multimillion-dollar properties in the Miami area, in part responding to recent changes in federal tax law.
A spokesperson for LeFrak did not immediately respond to a request for comment.
The 14,500-square-foot house at 4567 Pine Tree Drive features a natural swimming pool, a 200-foot bridge that winds through the property, a man-made, swimmable lagoon, an NBA half-basketball court and a 2,250-square-foot gym with a steam room, shower and massage room. The 1-acre waterfront estate hit the market in 2017 for nearly $30 million.
Brodsky also developed and sold the mansion next door at 4555 Pine Tree Drive in 2017 for $22.6 million.
Property records show BAW Realty LLC paid $11.5 million for both lots that Brodsky developed, at 4555 and 4567 Pine Tree Drive. The entity is controlled by Brodsky and Wayne Chaplin, CEO of Southern Glazer’s Wine & Spirits.
In South Florida, LeFrak is co-developing SoleMia, a $4 billion mixed-use development in North Miami, with the Soffer family’s Turnberry Associates. Together with Barry Sternlicht of Starwood Capital Group, LeFrak also developed 1 Hotel & Homes South Beach.