Don Peebles buys unit at the Bath Club, finds buyer for Coral Gables estate

He and his wife, Katrina, also recently sold a Wellington home for $4M

Miami /
Apr.April 09, 2021 02:30 PM
Don and Katrina Peebles with their recently purchased Bath Club unit. (Getty, ONE Sotheby’s International Realty)

Don and Katrina Peebles with their recently purchased Bath Club unit. (Getty, ONE Sotheby’s International Realty)

Don Peebles purchased an oceanfront condo at his development in Miami Beach, as he makes residential moves in South Florida, The Real Deal has learned.

The Peebles Corp. chairman and CEO and his wife, Katrina, paid $3 million for a three-bedroom, three-and-a-half-bathroom unit at The Bath Club, at 5959 Collins Avenue, Peebles confirmed.

They are also selling a home in Wellington for $4 million. And they’re in contract to sell their longtime Coral Gables mansion that is asking $15 million, in a deal that’s set to close in about a month, Peebles said.

The Peebleses will be empty nesters beginning in August, when their daughter, an equestrian, heads to college, he said. They are eyeing homes in Palm Beach, as well as in California or Santa Fe, New Mexico.

Peebles recently opened the Bath Club social club following a multimillion-dollar renovation of the historic building.

Peebles purchased the property for about $10 million in 2000, and redeveloped a portion of the site into 107 condos and six oceanfront villas, which were completed in 2006. The original clubhouse buildings were preserved. Peebles then bought out the club’s membership in 2012, and closed the club in 2014.

Following litigation from residents, a Miami-Dade judge ruled in February that Peebles’ Bath Club Entertainment was on the hook for $1 million in court sanctions for failing to maintain first-class cabanas and outdoor food and beverage service at the club.

Peebles Corp., founded in the early 1980s, has bought, sold or developed a portfolio that totals $6 billion and spans more than 7 million square feet in Boston, Los Angeles, Miami, New York, San Francisco, Washington, D.C., and other cities. The company has offices in New York, Washington, D.C. and Miami, according to its website.

Now, Katrina Peebles is renovating the unit they purchased, unit 801. The 2,959-square-foot condo has views of North Beach and South Beach, floor-to-ceiling windows, and a curved 50-foot great room. She plans to complete the renovation in mid-May, her husband said.

“We want to enjoy the club. It will be nice to be on the ocean in a building I built,” he added, saying it will become their new home base in Miami.

John Darvish, founder and CEO of DARCARS Automotive Group, sold the unit. Raymond Bolduc with One Sotheby’s International Realty represented the seller, while Jill Eber of Coldwell Banker’s The Jills Zeder Group represented Peebles.

Eber and Judy Zeder of The Jills Zeder Group are the listing agents for Peebles’ Coral Gables home.

In Wellington, the couple’s sale of their six-bedroom, 7,300-square-foot home at 2658 Sheltingham Drive is pending, according to Realtor.com. They paid $1.8 million for the property early last year, renovated it and put it on the market for $4.4 million in October.






    Related Articles

    arrow_forward_ios
    William Patrick McDowell, Camille Roxanne McDowell and Palazzo Del Sol. (Getty, Palazzo Del Sol)
    Multifamily real estate honchos buy second Fisher Island condo for $7M
    Multifamily real estate honchos buy second Fisher Island condo for $7M
    Shore Park building with Gloria and Emilio Estefan (Douglas Elliman, Getty)
    Ocean Drive property owned by Gloria and Emilio Estefan lists for $45M
    Ocean Drive property owned by Gloria and Emilio Estefan lists for $45M
    Renderings of the Sunset Harbour project with Marc Rowan and Deco Capital Group's Bradley Colmer (Linkedin, Getty)
    Deco Capital moves forward with new version of long-planned Sunset Harbour mixed-use development
    Deco Capital moves forward with new version of long-planned Sunset Harbour mixed-use development
    1260 Washington Avenue and 1234 Washington Avenue with Location Ventures CEO Rishi Kapoor (Google Maps, Location Ventures)
    Location Ventures buys South Beach office, retail property for $20M
    Location Ventures buys South Beach office, retail property for $20M
    Don Peebles, Jorge Perez and Barry Sternlicht with the Clevelander hotel (Getty, iStock)
    Alcohol rollback on Ocean Drive pits developers against business owners
    Alcohol rollback on Ocean Drive pits developers against business owners
    O. Dean Jernigan and 1325 North Venetian Way, Miami Beach (Google Maps)
    Former self-storage CEO sells Venetian Islands home for $18M
    Former self-storage CEO sells Venetian Islands home for $18M
    Jessica Goldman Srebnick with 6686 Roxbury Lane and 4511 Lake Road (Google Maps)
    Jessica Goldman Srebnick trades Miami Beach home for Bay Point mansion
    Jessica Goldman Srebnick trades Miami Beach home for Bay Point mansion
    Joseph Chetrit and a rendering of the Collins Park project (Getty, Kobi Karp)
    Chetrit scores $63M construction loan for long-planned Collins Park hotel in Miami Beach
    Chetrit scores $63M construction loan for long-planned Collins Park hotel in Miami Beach
    arrow_forward_ios

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

    Loading...