New Orleans developer buys waterfront Miami Beach home

Previous owners of Vintro hotel sold the house

TRD MIAMI /
Mar.March 14, 2019 11:30 AM

Elie Khoury and 5191 Pine Tree Drive

New Orleans developer Elie Khoury closed on a waterfront home on Pine Tree Drive in Miami Beach, property records show.

Khoury paid $6.3 million for the six-bedroom, six-bathroom house at 5191 Pine Tree Drive. 5191 Pinetree LLC, led by Enrique Colmenares and Enrique Fernandez, sold the three-story, 5,829-square-foot home.

Colmenares and Fernandez sold the Eurostars Vintro Hotel at 2216 Park Avenue in Miami Beach for $20 million last year.

The Pine Tree Drive home, built in 2016, features an open floor plan, 70 feet of water frontage with a private dock, pool and cabana, and a 5,000-square-foot rooftop sun deck, according to the listing. Cristina Gort of Astor Realty is the listing agent. The property was on the market for about $7.5 million.

Records show the seller paid $2.7 million for the 12,223-square-foot property in 2013.

Khoury leads the KFK Group, a real estate owner and developer, and Southeast Restaurant Group, which owns independent and franchised restaurants.

In New Orleans, Khoury was the first developer to break ground and complete a major project following Hurricane Katrina, according to his bio. In addition to developing condo and retail projects, he’s operates hotels in New Orleans and Dallas.

A number of high-end home sales have closed in recent months in Miami Beach. Jamie LeFrak, vice chairman and managing director of LeFrak, is under contract to buy the spec mansion at 4567 Pine Tree Drive for a price close to the nearly $21 million asking price. North of Alton Road, Miami Beach developer Barry Brodsky sold 6401 Pine Tree Drive Circle for $7.3 million.


Related Articles

arrow_forward_ios
Mirce Curkoski, Julian Johnston, and Olesia Aliseenko, with the home (Credit: Mark Sagliocco/Getty Images, and Google Maps)

Former Miss Ukraine pays $20M for waterfront Palm Island mansion

Former Miss Ukraine pays $20M for waterfront Palm Island mansion
Rendering of the project and Rishi Kapoor

Developer Rishi Kapoor lands approval for mixed-use co-living project in South Beach

Developer Rishi Kapoor lands approval for mixed-use co-living project in South Beach
Michael Shvo and a rendering of the tower (City of Miami)

Miami Beach board again delays vote on Michael Shvo’s proposed tower near Raleigh Hotel

Miami Beach board again delays vote on Michael Shvo’s proposed tower near Raleigh Hotel
Jill Hertzberg, Dora Puig, Oren Alexander with Star Island properties

Miami Beach’s Star Island regains its luster

Miami Beach’s Star Island regains its luster
5212 North Bay Road in Miami Beach and Marcelo Claure (Getty)

SoftBank’s Marcelo Claure pays $11M for North Bay Road teardown

SoftBank’s Marcelo Claure pays $11M for North Bay Road teardown
34 Star Island Drive with Albert Justo, Stacy Robins and Mirce Curkoski (Redfin)

Former Star Island residents return, buy $12M waterfront home

Former Star Island residents return, buy $12M waterfront home
1510 West 25th Street, Valerio Morabito (inset) and Gianluca Vacchi (Getty, Douglas Elliman)

Italian entrepreneur and DJ pays $25M for Sunset Islands mansion

Italian entrepreneur and DJ pays $25M for Sunset Islands mansion
WeWork Lenox Avenue, WeWork Lincoln Road and CEO Sandeep Mathrani (Lenox location by Katherine Kallergis, WeWork, iStock)

WeMove: WeWork leaves Lincoln Road, consolidates Miami Beach operations to Lenox Ave

WeMove: WeWork leaves Lincoln Road, consolidates Miami Beach operations to Lenox Ave
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...