Felix and Julian Cohen propose waterfront spec mansion on North Bay Road

The 15K sf mansion will have a rooftop terrace, spa, indoor and outdoor gyms, juice bar, cinema and second-floor pool outside the master bedroom

Miami /
Feb.February 06, 2020 01:30 PM
Julian Cohen and a rendering of the project

Julian Cohen and a rendering of the project

Spec home developer Felix Cohen and his son, real estate agent Julian Cohen, are teaming up to build a waterfront spec mansion on Miami Beach’s North Bay Road that will be priced at more than $40 million, The Real Deal has learned.

Julian Cohen, an agent in the Jills Zeder Group of Coldwell Banker, said they plan to build a 15,000-square-foot, 28-foot-tall mansion designed by Cesar Molina of CMA Design Studio, at 5840 North Bay Road.

The proposed mansion will have eight bedrooms, a rooftop terrace, a spa with a sauna and cold plunge pool, indoor and outdoor gyms, a juice bar, a cinema, servant and guest quarters, fire pits, and a second-floor 16-foot long pool just outside the master bedroom, Julian Cohen said.

They plan to break ground on the mansion by the end of the year.

A rendering of the project

A rendering of the project

The Cohens and their partners, RCH Capital co-founder Moris Tabacinic and his two sons Michael and Eli, bought the 36,143-square-foot property for $13.5 million in September.

A sliver of the property, about 8,800 square feet, is under contract by real estate investor Erwin Sredni, who owns the mansion next door at 5848 North Bay Road.

To close the deal and enable development of the mansion, the Cohens and Tabacinics will ask the Miami Beach Planning Board for a revised lot split at a meeting on Feb. 25.

Wealthy buyers have been paying millions of dollars for waterfront properties on North Bay Road. In August, a California buyer bought a spec mansion and lot at 6342 and 6360 North Bay Road for a combined $35.4 million, a record sale in Miami Beach in 2019. Also, in August, hotelier Keith Menin paid $12 million for a 15,000-square-foot mansion at 2318 North Bay Road. And, in September, spec home builders Brett Palos and Bart Reines sold a mansion at 5712 North Bay Road for $16 million.

Felix Cohen previously co-developed a spec mansion at 3 Indian Creek Road on Indian Creek Island that sold for $47 million in 2012, marking a record sale that year.


Related Articles

arrow_forward_ios
Daisy Chaplin and Charles Prince with the property at 6000 North Bay Road (Getty, Google Maps)
Late Broadway legend Harold Prince’s children settle dispute over family’s North Bay Road mansion
Late Broadway legend Harold Prince’s children settle dispute over family’s North Bay Road mansion
Entrepreneur Adam Arviv pays $8M for Palazzo Della Luna unit
Entrepreneur Adam Arviv pays $8M for Palazzo Della Luna unit
Entrepreneur Adam Arviv pays $8M for Palazzo Della Luna unit
I’ll take it: David Martin sells waterfront Miami Beach home to his listing agent
I’ll take it: David Martin sells waterfront Miami Beach home to his listing agent
I’ll take it: David Martin sells waterfront Miami Beach home to his listing agent
Surfside site’s stalking horse bidder signed contract, auction slated for February as claims could reach $1B
Surfside site’s stalking horse bidder signed contract, auction slated for February as claims could reach $1B
Surfside site’s stalking horse bidder signed contract, auction slated for February as claims could reach $1B
Eighty Seven Park and the lot where the Champlain Towers South once stood (Douglas Elliman)
Italian investor sells Eighty Seven Park unit to hedge funder in first closing since deadly condo collapse next door
Italian investor sells Eighty Seven Park unit to hedge funder in first closing since deadly condo collapse next door
A unit in Continuum South Beach was the top sale last week (Luxhunters for ONE Sotheby’s International Realty)
Tech entrepreneur’s purchase of Continuum unit leads Miami-Dade weekly condo sales
Tech entrepreneur’s purchase of Continuum unit leads Miami-Dade weekly condo sales
830 Brickell and the co-developers Cain's Jonathan Goldstein and Vlad Doronin (Getty, OKO Group / Cain International)
Lease roundup: Canada’s CI Financial picks Brickell for new US HQ
Lease roundup: Canada’s CI Financial picks Brickell for new US HQ
Tech entrepreneur pays $8M for Continuum South Beach condo
Tech entrepreneur pays $8M for Continuum South Beach condo
Tech entrepreneur pays $8M for Continuum South Beach condo
arrow_forward_ios

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

Loading...