JP Morgan managing director pays $7M for non-waterfront North Bay Road home

Seller built the home in 2016

Miami /
Apr.April 30, 2021 11:30 AM
David Reiser and 5061 North Bay Road, Miami Beach (Google Maps)

David Reiser and 5061 North Bay Road, Miami Beach (Google Maps)

A managing director at J.P. Morgan and his wife bought a non-waterfront home on North Bay Road for $6.5 million.

Records show David Reiser and his wife, Andrea, bought the house at 5061 North Bay Road from Rafi and Hadas Gibly.

David Resier, a managing director and wealth partner with J.P. Morgan Wealth Management, founded The Reiser Wealth Management Group. He joined J.P. Morgan in 2018, according to its website.

In March of last year, the Reisers purchased a 10,050-square-foot mansion near Coral Gables for $6.9 million. Property records show the married couple still own the home.

Rafi Gibly, a developer, and Hadas bought the Miami Beach property for $1.6 million in 2014, records show. In 2015, Rafi Gibly demolished a single-family home on the site and started building the current 5,929-square-foot house. He completed it in 2016.

The home was listed in November asking $6.5 million. Jonathan Mann and Daniel Hertzberg of Coldwell Banker Realty represented the seller. Mann brought the buyer.

Miami-Dade County property records show the home has five bedrooms and six-and-a-half bathrooms.

According to the listing, the house was designed by architect Kobi Karp and was built by Todd Michael Glaser — who has been on a selling spree as of late.

Other recent pricey, non-waterfront sales on North Bay Road include the estate of the late Oribe Canales, the celebrity hairstylist used by Jennifer Lopez, Naomi Campbell and other celebrities, selling his home at 5645 North Bay Road for $3.8 million. Property records show Christian Ludwigsen, also known as Chris Paciello, acquired the non-waterfront house in December.

This month, music executive Tommy Mottola, and his wife, Mexican singer and actress Thalía, paid $5.5 million for a non-waterfront house at 31 La Gorce Circle on La Gorce Island in Miami Beach.





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