Spec home developer Felix Cohen buys two vacant lots on North Bay Road for $14M

Cohen served as the co-developer of 3 Indian Creek Road that sold for $47 million in 2012

TRD MIAMI /
Sep.September 27, 2019 04:50 PM
Julian Johnston, Julian Cohen and the property

Julian Johnston, Julian Cohen and the property

UPDATED, Oct. 1, 10:40 a.m.: Spec home developer Felix Cohen purchased two vacant lots on Miami Beach’s North Bay Road for $13.5 million, with plans to build a new estate with his son Julian Cohen.

Cohen bought the combined 36,143 square-foot-property at 5830–5840 North Bay Road for $373 per square foot, records show. The property features 200 feet of deep water frontage.

NBR5840 LP, a Delaware Company with a London address, sold the property. NBR5840 LP bought the combined property in September 2018 for $13.85 million, meaning it sold at a slight loss.

Julian Cohen of The Jills Zeder Group represented the buyer, according to a press release. He is also a co-developer of the project. Julian Johnston of the Corcoran Group represented the seller.

Felix Cohen is a Miami Beach spec home developer who co-developed 3 Indian Creek Road that sold for $47 million in 2012, marking a record sale that year.

North Bay Road has become one of the most desirable streets for ultra-wealthy buyers. Earlier this month, spec home builders Brett Palos and Bart Reines sold a waterfront home at 5712 North Bay Road for $16 million.

In August, hotelier Keith Menin paid just over $12 million for the eight-bedroom, nearly 15,000-square-foot mansion at 2318 North Bay Road.

Also in August, a California buyer purchased a waterfront mansion and lot on North Bay Road for a combined $35.4 million, marking a record sale in Miami Beach this year.


Related Articles

arrow_forward_ios
Royal Management Group maintains four South Beach condo buildings

South Beach condo owners sue to remove management company

South Beach condo owners sue to remove management company
rank McKinney, 3492 South Ocean Boulevard (Credit: Google Maps)

Frank McKinney sells South Palm Beach spec home with jellyfish tank

Frank McKinney sells South Palm Beach spec home with jellyfish tank
Lennox Miami Beach

Lennox Miami Beach hotel exec sues father-in-law for ousting him: lawsuit

Lennox Miami Beach hotel exec sues father-in-law for ousting him: lawsuit
111 Atlantic Avenue with Scott Robins, Jonathan Fryd, Todd Glaser and Philip Levine (Glaser by Mary Beth Koeth)

Todd Glaser, partners sell Palm Beach spec home for $11M

Todd Glaser, partners sell Palm Beach spec home for $11M
Stephen and Petra Levin, David Deshe and 4350 North Bay Road (Credit: Nicholas Hunt/Getty Images, LinkedIn, and Google Maps)

Drink to that: Beverage tycoon sells waterfront Miami Beach lot to Vero Water mogul

Drink to that: Beverage tycoon sells waterfront Miami Beach lot to Vero Water mogul
citizenM founder Rattan Chadha, Russell Galbut and a rendering of 1212 Lincoln

CitizenM buys hotel portion of Crescent Heights’ 1212 Lincoln project

CitizenM buys hotel portion of Crescent Heights’ 1212 Lincoln project
Commissioner Ricky Arriola and an aerial of Sunset Harbour in Miami Beach (Compass)

Miami Beach moves toward banning chain restaurants and stores in Sunset Harbour

Miami Beach moves toward banning chain restaurants and stores in Sunset Harbour
1 Hotel South Beach (Credit: Google Maps)

Starwood Capital affiliate sues 1 Hotel & Homes South Beach condo association for trademark infringement

Starwood Capital affiliate sues 1 Hotel & Homes South Beach condo association for trademark infringement
arrow_forward_ios

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

Loading...