Waterfront Surfside spec home sells for record $7M

Previous record for a single-family home in Surfside was $5.5M, according to developer

Miami /
Feb.February 03, 2021 03:30 PM
Reuven and Iris Herssein with 9408 Bay Drive, Surfside (Compass)

Reuven and Iris Herssein with 9408 Bay Drive, Surfside (Compass)

A newly built spec home in Surfside sold for a record-setting $6.9 million, The Real Deal has learned.

Developers Reuven and Iris Herssein, through KTLL LLC, sold the house at 9408 Bay Drive to 9408 Bay Drive LLC, Reuven Herssein said. The buying entity is a Florida company led by Zelman L. and Leah Oberlander, according to corporate filings.

The Hersseins have developed other homes in South Florida. Their KTLL LLC bought the property in 2015 for $2.8 million, property records show. The Hersseins began construction on the new home in 2018. The house was finished in 2020.

The home was listed in August before completion with an asking price of $6.6 million. In November, the listing price increased to $7.5 million, and was most recently $7 million in December.

Mendel Fellig (Photography by Sonya Revell)

Mendel Fellig (Photography by Sonya Revell)

Mendel Fellig of Compass represented the sellers, while Sharon Beck of Z Miami Commercial represented the buyer.

The 6,793-square-foot home has seven bedrooms and eight-and-a-half bathrooms. The house also features 50 feet of water frontage and 2,000 square feet of outdoor terrace space, including a rooftop terrace.

According to Reuven Herssein, the sale marks the highest price for a single-family home in Surfside. The previous record was $5.5 million.

Surfside has had plenty of high-priced condo sales. This year, the co-managing partner of a private equity firm sold his oceanfront condo at Four Seasons at the Surf Club for $12.4 million, and a real estate investor sold his penthouse at Fendi Château Residences for $16.8 million.

Ivanka Trump and Jared Kushner will be renting a condo at Arte in Surfside.





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