Developer gets $15.6M for Venetian Islands spec home

Emmanuel Sebag’s bet on spec in the Venetian Islands appears to have paid off.

The developer just sold a five-bedroom, 5,600-square-foot home at 802 West Dilido Drive in Miami Beach for $15.55 million (about $2,750 a foot), according to the MLS.

Dina Goldentayer of Douglas Elliman represented the seller, and Elliman’s Miltiadis Kastanis brought the buyer. Both agents declined to comment on the deal, and the buyer’s identity has not been disclosed.

The waterfront home, designed by David Lopez Quincoces, hit the market in March for $16.85 million, according to Realtor.com. It features a 1,200-square-foot master suite, a lounge, home theater, guest quarters, a summer kitchen, new dock and boat lift, and an infinity pool.

Property records show Sebag’s 802 W Dilido LLC paid $4.1 million in 2016 for the 10,500-square-foot lot. Sebag developed his own home nearby on the Venetians, according to Architectural Digest.

The $15.55 million sale is the highest price paid for a house on the Venetian Islands since former Formula One driver and spec home developer Eddie Irvine sold the 7,300-square-foot spec home at 126 West San Marino Drive for more than $17 million in May 2018. A year earlier, WhatsApp investor Jim Goetz paid $22 million for the seven-bedroom, 11,600-square-foot home at 212 West Dilido Drive.