New Orleans developer buys waterfront Miami Beach home

Previous owners of Vintro hotel sold the house

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

802 West Dilido Drive with agents Dina Goldentayer and Miltiadis Kastanis (Credit: Douglas Elliman)

Developer gets $15.6M for Venetian Islands spec home

Todd Glaser, Rony Seikaly and a rendering of spec home at 1635 W 22nd Street (Credit: Mary Beth Koeth, Getty Images)

Todd Glaser, Rony Seikaly close on Miami Beach spec mansion

Jeffrey Soffer and Fontainebleau Miami Beach

Jeffrey Soffer scores $1.2B refi of Fontainebleau Miami Beach

The LaLanne exhibit at The Real Deal’s event in October

Michael Shvo to unveil tropical gardens with LaLanne exhibit at the Raleigh

Thomas O’Reilly, John Marshall, Ivan Chorney and Michael Martirena with Continuum North unit 1402/03 (Credit: Douglas Elliman and LinkedIn)

Tech entrepreneur sells Continuum unit to Neuberger Berman exec

Daily Digest Miami

Missoni Baia lands massive loan, Babylon Brickell owner sells Overtown property: Daily digest

Miami Beach loosens regulations for real estate developers and small businesses

Miami Beach relaxes rules on development, pools, restaurants

Alan Faena and his home at 4731 Pine Tree Drive (Credit: Wikipedia, The Alexander Group)

Alan Faena lists waterfront Miami Beach home for $16.5M