The doctor is out: MD sells waterfront Miami Beach home for $19M

Seller bought the home for less than $2M in 1992

Miami /
Feb.February 01, 2021 03:30 PM
4540 North Bay Road, Miami Beach (Google Maps, iStock)

4540 North Bay Road, Miami Beach (Google Maps, iStock)

A doctor sold her waterfront Miami Beach home for $18.7 million.

Records show Bertha M. Olazabal and her husband, Omar Lorenzo, sold the house at 4540 North Bay Road to NBR LLC, a Delaware corporation that links to New York law firm TFMG Associates.

Olazabal is an internal medicine specialist and Lorenzo is a neuropsychologist.

Property records show Olazabal and her former husband, Armando A. Santelices, bought the home in 1992 for $1.6 million. The two divorced in 1996 and Olazabal became the sole owner of the property in 1997.

The 5,071-square-foot house has six bedrooms and five-and-a-half bathrooms. According to property records, the home was built in 1990.

Records show it last sold for $1.6 million in 1992.

North Bay Road has been attracting many pricey sales during the pandemic. In January, billionaire hedge fund manager Dan Loeb closed on a waterfront teardown for $12 million, Phil Collins sold his waterfront estate for more than $39 million, and the estate of the late Oribe Canales sold for $3.8 million.

In November, Gabe Plotkin, the founder of investment management firm Melvin Capital Management and a major short-seller of GameStop paid $44 million for the waterfront homes at 6360 and 6342 North Bay Road, where he’s planning an expansion with a tennis court.





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