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Mortgage chief buys waterfront Golden Beach home for record $14M

Seller bought the home for $2M in 2010 and renovated it

Homespire Mortgage's Michael Rappaport and (inset) Saber's Michael Klinger with 610 North Island Road, Golden Beach
Homespire Mortgage's Michael Rappaport and (inset) Saber's Michael Klinger with 610 North Island Road, Golden Beach (Daniel Petroni Photography)

A managing member of a commercial real estate firm sold a waterfront Golden Beach home for a record $14.1 million, The Real Deal has learned.

Michael Klinger sold the house at 610 North Island Road to Michael Rappaport of Maryland, according to Jon Mann of the Jills Zeder Group at Coldwell Banker, who represented the seller.

Klinger is a managing member of Saber Real Estate Advisors and was formerly an executive at Blackstone and Related Companies.

Rappaport is president of Gaithersburg, Maryland-based Homespire Mortgage, a mortgage lender.

Mann said the sale sets a record for a non-oceanfront property in Golden Beach.

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Records show Klinger and his wife, Michelle, bought the property in 2010 for nearly $2 million. That same year, Klinger added a new roof, new windows and doors, a new pool and gazebo, a small addition and made other renovations. The house was built in 1983.

It was listed in March for $14.4 million. Marc Hameroff of Engels & Volkers represented the buyer.

Designed by Cesar Molina, the 7,207-square-foot house has six bedrooms and six-and-a-half bathrooms with 100 feet of Intracoastal Waterway frontage with a dock and boat lift, according to the listing.

This month, fashion designer Tommy Hilfiger sold his oceanfront estate in Golden Beach to Grant Cardone for close to $28 million.

Other recent sales in Golden Beach include a Mexican businessman buying an oceanfront home for $17.5 million, and an oceanfront lot selling for $10.7 million.

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Golden BeachHome Sales