Waterfront lot on North Bay Road sells for $7M

Former owners of the Sagamore Hotel are the buyers

Miami /
Jan.January 20, 2020 05:30 PM
4424 North Bay Road, and from right: Neil and Jennifer Sazant, Lindsay McMinn and Karen Stauber (Credit: Getty Images)

4424 North Bay Road, and from right: Neil and Jennifer Sazant, Lindsay McMinn and Karen Stauber (Credit: Getty Images)

A waterfront property on North Bay Road, once owned by former Formula One race car driver Eddie Irvine, sold for $7 million after being tied up in litigation for more than a decade.

Jennifer Taplin Sazant and Neil Sazant bought the vacant lot at 4424 North Bay Road in Miami Beach, said Karen Stauber of the Jills Zeder Group of Coldwell Banker, who represented the buyers in the deal. They plan to build a home to live in, designed by architect Kobi Karp, Stauber said. Taplin Sazant is the daughter of the late Marty Taplin, who owned the Sagamore Hotel South Beach.

The 15,800-square-foot lot sold for $443 per square foot. The seller was JP Morgan Chase Bank, records show. Lindsay McMinn of Berkshire Hathaway HomeServices EWM Realty represented the seller. The property had been listed for nearly $7.5 million.

The bank took over the property through foreclosure in 2017. Gabriel Martin, a former Miami lawyer, and former property owner Jason Zabaleta, were allegedly involved in mortgage fraud on the former home. Martin had been hired as the closing agent for the buyer in Irvine’s sale of the house in 2005, according to published reports. The foreclosure litigation began in 2009. The previous home was torn down last year, McMinn said.

North Bay Road has attracted some of the priciest sales in Miami Beach. In August, a California buyer purchased a waterfront spec mansion at 6360 North Bay Road for $23.85 million and a lot next door at 6342 North Bay Road for $11.55 million. The combined $35.4 million sale marked a record for the year in Miami Beach.

Among other sales on North Bay Road, Yext founder and CEO Howard Lerman paid $17 million for a spec mansion at 6010 North Bay Road in February. In July, Karp and his wife Nancy paid $8.5 million for the home at 4750 North Bay Road.

Other high-profile homeowners on North Bay Road include Starwood Property Trust’s Barry Sternlicht, JDS Development’s Michael Stern, singer-songwriter Phil Collins, and basketball stars Chris Bosh and Dwyane Wade.


Related Articles

arrow_forward_ios
Dave Grutman and Jeffrey Soffer
WATCH: Jeffrey Soffer and Dave Grutman talk post-Covid concepts and branching into the Vegas market
WATCH: Jeffrey Soffer and Dave Grutman talk post-Covid concepts and branching into the Vegas market
Inset: Jay Philip Parker, Alicia Cervera Lamadrid, Edgardo Defortuna
Real estate developers, brokers court Art Basel Miami Beach attendees
Real estate developers, brokers court Art Basel Miami Beach attendees
South Florida by the numbers: Winter sports heat up market
South Florida by the numbers: Winter sports heat up market
South Florida by the numbers: Winter sports heat up market
Michael Huffington and the condo building (Getty, Eighty Seven Park)
Michael Huffington sells Eighty Seven Park condo for $11M a year after purchase
Michael Huffington sells Eighty Seven Park condo for $11M a year after purchase
Vineyard owner sells Venetian Islands home to investment firm founder for $15M
Vineyard owner sells Venetian Islands home to investment firm founder for $15M
Vineyard owner sells Venetian Islands home to investment firm founder for $15M
Corcoran’s Julian Johnston, Luxe Living Realty’s Dora Puig, One Sotheby’s’ Jeff Miller, Douglas Elliman’s Dina Goldentayer and Douglas Elliman’s Oren Alexander
WATCH: Top luxury brokers go head to head at TRD’s Miami event
WATCH: Top luxury brokers go head to head at TRD’s Miami event
David and Celia Centner with the Palm Island mansion (Getty, Compass)
Controversial Centner Academy owners revealed as buyers of $28M Palm Island mansion
Controversial Centner Academy owners revealed as buyers of $28M Palm Island mansion
Miami Beach state of mind: Hotelier buys Billy Joel’s former waterfront North Bay Road home
Miami Beach state of mind: Hotelier buys Billy Joel’s former waterfront North Bay Road home
Miami Beach state of mind: Hotelier buys Billy Joel’s former waterfront North Bay Road home
arrow_forward_ios

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

Loading...