Howard Lorber buys waterfront Sunset Islands home for $12M

Lorber flipped a condo at The Bristol in West Palm Beach earlier this year

Miami /
Jun.June 05, 2020 12:30 PM
Howard Lorber and 1525 North View Drive

Howard Lorber and 1525 North View Drive

UPDATED, June 5, 1:10 p.m.: Douglas Elliman chief Howard Lorber paid $12 million for a waterfront home in Miami Beach, less than a week after investors rejected his and other top executives’ compensation from 2019.

Lorber closed on the house on Tuesday. The previous week, a majority of investors at Elliman parent Vector Group rejected executives’ pay, including the $11.7 million that Lorber took home last year.

JP Investments I, a company managed by attorney Ronald Fieldstone and tied to Sonja Berchtold of Switzerland, sold the four-bedroom, five-bathroom house at 1525 North View Drive on Miami Beach’s Sunset Island I, property records show.

Lorber, who is Vector Group CEO and chairman of Elliman, flipped his 16th floor unit at The Bristol in West Palm Beach for $7.6 million in February, three months after closing on the condo for $6.87 million.

Lorber also owns a home on Fisher Island.

His 5,879-square-foot Miami Beach house is at the northernmost point of the Sunset Islands and has 165 feet of water frontage. The Palm Beach-style home sits on a 37,578-square-foot lot, and includes a waterfront gym with a spa room, two-car garage and three-car carport, boat dock, and freshwater lap pool.

Jill Hertzberg of the Jills Zeder Group at Coldwell Banker represented the seller. Lorber represented himself. It was listed for $15.9 million.

The house was built in 1955 and last sold in 2008 for $6.25 million, according to property records.

The Sunset Islands have been heating up. Earlier this week, hospitality entrepreneur David Grutman listed his waterfront home on Sunset Island IV for $8.9 million.


Related Articles

arrow_forward_ios
Bulgari CEO Jean-Christophe Babin and 100 21st Street, Miami (Bvlgari via Twitter, Getty, iStock)

Bulgari plans first US hotel on oceanfront Miami Beach site

Bulgari plans first US hotel on oceanfront Miami Beach site
HFZ looks to sell Shore Club South Beach hotel

HFZ looks to sell Shore Club South Beach hotel

HFZ looks to sell Shore Club South Beach hotel
Jerry Bruckheimer and his penthouse (Getty, Douglas Elliman)

Jerry Bruckheimer lists Miami Beach penthouse for $17M

Jerry Bruckheimer lists Miami Beach penthouse for $17M
James Curnin and 416 West San Marino Drive (Getty, Google Maps)

Spec home builder James Curnin buys Venetian Islands teardown

Spec home builder James Curnin buys Venetian Islands teardown
(Google Maps)

Condo sales plunge in Miami-Dade during Thanksgiving week

Condo sales plunge in Miami-Dade during Thanksgiving week
John Simonian with 6360 North Bay Road and 6342 North Bay Road (Getty, Google Maps)

Luxury watch retailer sells adjacent Miami Beach homes for $44M

Luxury watch retailer sells adjacent Miami Beach homes for $44M
Joel Meyerson and 24 Palm Avenue, Miami Beach (The Pure Source, Sotheby's)

CEO of cosmetics manufacturer buys Palm Island home for $11M

CEO of cosmetics manufacturer buys Palm Island home for $11M
Steve Witkoff and 4766 North Bay Road (Getty, Douglas Elliman)

Steve Witkoff pays $8M for waterfront North Bay Road lot

Steve Witkoff pays $8M for waterfront North Bay Road lot
arrow_forward_ios

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

Loading...