Waterfront Normandy Isles home sells for record $7M

Sale breaks a record on Normandy Isle

Miami /
Oct.October 06, 2020 06:00 PM
1776 Bay Drive, Miami Beach (Courtesy of Douglas Elliman)

1776 Bay Drive, Miami Beach (Courtesy of Douglas Elliman)

UPDATED, Oct. 7, 10:45 a.m.: A waterfront home in Miami Beach sold for $6.5 million, setting a new record for Normandy Isles.

Jaime Iriarte Angulo and Hilda Jilia Montano De Iriarte sold the house at 1776 Bay Drive to Stephen Kraus, president of Kraus Hi-Tech Home Automation, according to public records obtained by The Real Deal.

Kraus Hi-Tech Home Automation is a New York City-based company that specializes in building customized home automation systems, according to its website.

Luis Dominguez of Douglas Elliman and Karl Hueck of Compass were the listing agents. Alison Zhuk, also with Elliman, represented the buyer. The 5,327-square-foot home was originally listed for $7.5 million. It has six bedrooms and seven bathrooms.

The property last sold in 2012 for $1.6 million. The Iriartes demolished the previous home a year later and built the new house in 2015, records show.

The home includes a three-car garage, more than 83 feet of water frontage, a 30,000-pound boat lift and jet ski ramps.

The $6.5 million sale is a record for Normandy Isles, surpassing the $5.25 million sale of 1800 Bay Road in 2018. The quiet Miami Beach neighborhood, northeast of North Bay Village and south of Indian Creek Village, is home to mostly older houses.

Last year, rapper Lil Pump paid $4.6 million for a waterfront home also on Bay Drive. Dominguez and Hueck were involved in that sale as well.

Recent closings in Miami Beach include the $15.2 million sale of spec home developer Todd Glaser’s property at 6650 Allison Road.






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