Real estate honcho buys waterfront North Bay Road home for $9M

UPDATED, July 30, 4:15 p.m.: A New York real estate honcho bought a waterfront home on Miami Beach’s North Bay Road for $9 million.

Richard and Barbara Lane bought the 6,314-square-foot house at 6380 North Bay Road for $1,425 per square foot, records show. Giro Investments, led by Nora Kohen and Alfredo Ghirardo of Coral Gables, sold the property.

Dolores Urdapilleta with Urdapilleta Real Estate, LLC had the listing, according to Realtor.com. Simone Weissman of The Nancy Batchelor Team at Berkshire Hathaway HomeServices EWM Realty represented the buyer.

The house was listed in January 2019 for $11.3 million, according to Realtor.com.

It last sold for $5.6 million in 2008, records show. The one-story house has four bedrooms and four-and-a-half baths.

Built in 1951, the remodeled home sits on a 27,013-square-foot lot and has 113 feet of water frontage. Amenities include a pool and cabana with a bathroom and kitchenette.

Richard Lane is chairman emeritus of New York-based real estate firm Olnick Organization and is also on the board of trustees for American Federation of the Arts, according to the organization’s website.

Olnick Organization owns thousands of rental apartments in the tri-state area. Family patriarch Robert Olnick founded the company in 1946 as a developer of housing in the Riverdale section of the Bronx. In 1952, the company built the 1,700-unit Lenox Terrace complex in Harlem.

North Bay Road is a popular destination for high-end home buyers. Earlier this month, David Deshe, co-founder and president of Vero Water, purchased a lot at 4350 North Bay Road for $8.5 million.

In March, the house at 5242 North Bay Road sold for $7 million. And in February, fashion executive and investor J. Christopher Burch paid $14 million for the mansion at 5050 North Bay Road.