Dan Kodsi’s brother sells North Bay Road mansion for $13M

Land trust purchased the waterfront home, which Isaac Kodsi built in 2010

4412 North Bay Road (Credit: One Sotheby’s International Realty)
4412 North Bay Road (Credit: One Sotheby’s International Realty)

UPDATED, May 23, 9:40 a.m.: The brother of Miami Worldcenter developer Dan Kodsi sold a Miami Beach home for $13 million.

Isaac Kodsi, an attorney and owner of Ark Financial Group, and his wife Teresita Menendez Kodsi, sold their waterfront property at 4412 North Bay Road to 4412 North Bay Road Land Trust, an undisclosed buyer, records show.

The seven-bedroom, eight-and-a-half-bathroom home has nearly 10,000 square feet of space, a private courtyard, three-car garage, cabana pool house, and a detached office. It was built in 2010.

Albert Justo and Mirce Curkoski of The Waterfront Team at One Sotheby’s International Realty had the listing. Richard Steinberg and Payton Smith of Douglas Elliman represented the buyer.

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The Kodsis paid $4.25 million for the property in 2005 and later built the mansion.

Kodsi’s brother Dan is a co-developer of Paramount Miami Worldcenter, a 60-story, 530-unit building under construction at the mixed-use, master-planned Miami Worldcenter.

A number of high-end homes have sold in Miami Beach so far this year. Yext founder and CEO Howard Lerman paid $17 million in February for a 10,665-square-foot spec mansion at 6010 North Bay Road.