Asset manager drops $6M on waterfront Bay Point development site

Property faces Sabal Lake and has two docks

Miami /
Nov.November 09, 2020 04:30 PM
625 Buttonwood Lane, Miami (Credit: Luxe Living Realty)

625 Buttonwood Lane, Miami (Credit: Luxe Living Realty)

The managing director of an asset management firm paid $5.7 million for a waterfront development site in Miami’s Bay Point neighborhood.

Records show Brett Evenson and his wife, Valerie, bought the property at 625 Buttonwood Lane from 625 Realty LLC, a Florida company managed by Ivan Garofalo, who is also known as Ivan Javier Garofalo Vallejo.

Brett Evenson is the managing director at Coral Gables-based Bayview Asset Management, a position he has held since 2008. Founded in 1993, Bayview focuses on investments in mortgage and consumer credit, and has $15.8 billion in assets under management, according to its website. Bayview also has offices in New York, London and Geneva.

Dora Puig of Luxe Living Realty brokered the deal. The property originally went on the market at $10 million in November of 2015. The most recent asking price was $6.7 million in January 2019, according to Realtor.com.

A 4,406-square-foot, five-bedroom, five-bathroom home, built in 1961, currently sits on the property. Garofalo bought the home in 2012 for $4 million, records show.

Puig advertised it as a lot ready for a newly developed home.

The lot totals 31,636 square feet, and has 250 feet of water frontage facing Sabal Lake. It currently has a two-car garage and two docks.

Other activity in the Bay Point neighborhood includes Cuban-born singer Willy Chirino listing his home for $12 million in October, and Enrique Iglesias selling his waterfront home for $6.5 million last year.






    Related Articles

    arrow_forward_ios
    Stuart and Pamela Rothenberg with 4731 Lake Road, Miami (Patrick McMullan/Getty, Compass)
    Former Goldman Sachs exec buys waterfront Miami home for $11M
    Former Goldman Sachs exec buys waterfront Miami home for $11M
    Tommy Hilfiger and Grant Cardone with 605 Ocean Boulevard (Getty)
    Tommy Hilfiger selling waterfront South Florida mansion to Grant Cardone for $28M: sources
    Tommy Hilfiger selling waterfront South Florida mansion to Grant Cardone for $28M: sources
    East End Capital’s Jonathon Yormak, BentallGreenOak’s Sonny Kalsi and 100 Biscayne Boulevard. (East End Capital, BentallGreenOak)
    East End Capital, Australian investors lose suit over $6M deposit in failed downtown Miami office tower sale
    East End Capital, Australian investors lose suit over $6M deposit in failed downtown Miami office tower sale
    Laurie Stark and Turnberry Ocean Club (Getty)
    Chrome Hearts co-owner Laurie Stark pays $7M for Sunny Isles Beach condo
    Chrome Hearts co-owner Laurie Stark pays $7M for Sunny Isles Beach condo
    Midtown Capital Partners managing partner Alejandro Velez (Cushman & Wakefield, Midtown Capital)
    Midtown Capital Partners buys Plantation office building for $78M
    Midtown Capital Partners buys Plantation office building for $78M
    Safe Harbor Marinas CEO Baxter Underwood and Lauderdale Marine Center at 2001 Southwest 20th Street  (LinkedIn, Google Maps)
    Safe Harbor pays $340M for Fort Lauderdale mega-marina
    Safe Harbor pays $340M for Fort Lauderdale mega-marina
    Myles Chefetz and 5780 LaGorce Drive (Douglas Elliman, Facebook)
    Prime 112 owner Myles Chefetz pays $5M for non-waterfront Miami Beach spec home
    Prime 112 owner Myles Chefetz pays $5M for non-waterfront Miami Beach spec home
    Kevin Flaherty and 1337 North Venetian Way in Miami Beach (Google Maps, Morgan Stanley)
    Morgan Stanley portfolio manager sells waterfront Venetian Islands home
    Morgan Stanley portfolio manager sells waterfront Venetian Islands home
    arrow_forward_ios

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

    Loading...