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

Miami /
Jul.July 29, 2020 02:30 PM
6380 North Bay Road with Richard and Barbara Lane (Urdapilletta Real Estate, A Scott/Patrick McMullan/Getty)

6380 North Bay Road with Richard and Barbara Lane (Urdapilletta Real Estate, A Scott/Patrick McMullan/Getty)

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.


Related Articles

arrow_forward_ios
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
The Allen Apartments with Mark Samuelian, Michael Gongora and Ricky Arriola (Miami Beach Community Development Corp., Wikipedia Commons)

Miami Beach may create incentives for affordable housing developers

Miami Beach may create incentives for affordable housing developers
Tudor House Art Deco and Essex House hotels (Wikipedia Commons)

Hotel height increases could be coming to Miami Beach’s Collins Avenue near Ocean Drive

Hotel height increases could be coming to Miami Beach’s Collins Avenue near Ocean Drive
Laurent Ouazana and 6505 Allison Road, Miami Beach (Twitter, Google Maps)

French insurance CEO buys Allison Island home next door to his new mansion

French insurance CEO buys Allison Island home next door to his new mansion
(Google Maps)

Weekly condo sales, dollar volume jump in Miami-Dade

Weekly condo sales, dollar volume jump in Miami-Dade
Jarrett Posner, Pablo Escobar with 5860 North Bay Road (The Waterfront Team)

Pablo Escobar’s former Miami Beach property sells for $11M

Pablo Escobar’s former Miami Beach property sells for $11M
Camilo Miguel Jr. and rendering of 4000 Alton Road

Mast Capital scores approval for Miami Beach condo project

Mast Capital scores approval for Miami Beach condo project
arrow_forward_ios

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

Loading...