Private equity firm exec sells Miami Beach mansion to Moshe Popack

Waterton managing partner sold the 9-bedroom mansion on Flamingo Drive

Dec.December 31, 2019 02:30 PM
Moshe Popack and his Flamingo Drive home

Moshe Popack and his Flamingo Drive home

Real estate investor Moshe Popack paid $7.9 million for a waterfront Miami Beach home.

Property records show Isser and Yona Elishis sold their nine-bedroom, 10-bathroom mansion at 3675 Flamingo Drive to Popack and his wife, Yaffa. Isser Elishis is managing partner and chief investment officer of Waterton Global Resource Management, a private equity firm that specializes in the metals and mining sector. The couple listed a Beverly Hills address on the deed transfer of ownership.

Popack is founder, chairman and CEO of YMP Real Estate Management in Lauderdale Lakes. He’s acquired over 5,000 apartments in Florida, Georgia and North Carolina since the market crashed in 2009, and more than 1.3 million square feet of office space in Alabama, Florida, Georgia and New Jersey, according to his LinkedIn.

Popack’s new Miami Beach home first hit the market in 2017 for $12.9 million. By July 2019, the price had been lowered to $8.9 million. Mendel Fellig of Compass was the listing and buyer’s agent, according to Fellig declined to comment on the deal.

The 10,230-square-foot estate features 100 feet of water frontage, a brick motor court, a separate four-bedroom guest house, a gym, pool, new seawall and dock. Records show it was first built in 1934, with more construction added in 2010. The 27,600-square-foot property last sold in 2005 for $3.1 million.

In April, Popack paid $11.5 million for a senior living facility near Miami Gardens. In recent years, his company’s acquisitions in South Florida have also included the Executive University Courts office buildings in Lauderhill and a 600-unit apartment complex in North Miami.

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