Bal Harbour Shops owner upgrades to oceanfront estate in Miami Beach

$17M purchase marks a record for Altos Del Mar neighborhood

 Matthew Whitman Lazenby with 7825 Atlantic Way (Blue Ocean Photography, iStock)
Matthew Whitman Lazenby with the Atlantic Way property (Blue Ocean Photography, iStock)

Bal Harbour Shops owner Matthew Whitman Lazenby went shopping for a new home and found one in the Altos del Mar neighborhood of Miami Beach.

Lazenby sold his waterfront home in Miami Beach’s Lakeview neighborhood for $12.4 million and purchased the oceanfront Altos Del Mar estate for $17.3 million, The Real Deal has learned. Lazenby did not respond to a request for comment.

Lazenby, president and CEO of Whitman Family Development, sold the nine-bedroom, 7,848-square-foot house at 544 Lakeview Court to a trust for $12.4 million. His parents, Robert Lazenby and Gwen Lazenby, signed the deed on behalf of the seller. Ben Moss of Compass represented the seller, and Judith Werner of Bold Miami represented the buyer.

Julian Johnston

Julian Johnston

That 0.9-acre waterfront property previously sold for $6.9 million in 2012. The home features solar panels, a pool, spa and dock. It was built in 1957 and later expanded.

After selling the Lakeview home, Whitman acquired an estate on Atlantic Way, which is near the North Beach Oceanside Park and near the luxury condo building Eighty Seven Park, according to sources.

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Property records show Farid Suleman, a broadcasting executive, and his wife, Jennifer Suleman sold the seven bedroom, 8,682-square-foot home. Julian Johnston and Jelena Khurana of the Corcoran Group represented the sellers, and Moss represented the buyer. Moss declined to comment on the deals.

The sale marks a record for Altos Del Mar, according to Johnston.

The property features an interior courtyard with a fountain, marble floors, a grand master suite with a private terrace, a summer kitchen and a covered terrace and bar, and an infinity pool. The property last sold in 2012 for $3.4 million, and the home was built in 2015, records show.

Ben Moss

Ben Moss

Whitman Family Development, which owns the high-end Bal Harbour Shops, also owns a stake in the retail component of Brickell City Centre.

Bal Harbour Shops is currently undergoing a nearly half-billion dollar renovation. Last month, Bal Harbour voters rejected a proposed village charter amendment that would have allowed the luxury shopping center’s owners to apply for a height increase above five stories.