Crescent Heights co-founder Sonny Kahn sells oceanfront Golden Beach mansion for $21M

He paid $14M for the 1-acre property in 2018

Miami /
Jul.July 08, 2021 12:30 PM
115 Ocean Boulevard in Golden Beach (Google Maps)

115 Ocean Boulevard in Golden Beach (Google Maps)

Developer Sonny Kahn sold an oceanfront Golden Beach mansion for 50 percent more than his purchase price three years ago.

The Crescent Heights co-founder sold the house at 115 Ocean Boulevard to 115 Ocean Blvd GB LLC for $21 million, property records show. The buyer is managed by Shimon Katz. The entity financed the deal with a $13.7 million loan from First Republic Bank.

Kahn sold the nearly 1-acre property through his entity, Ejnra Ltd. It includes a 9,525-square-foot house with four bedrooms, three bathrooms and two half-bathrooms.

Ezzy Duchman of Eden Properties represented the buyer and seller.

The previous owner expanded the two-story home with a 1,386-square-foot addition and a new patio in 2018, the same year Khan acquired the property for $14 million. The mansion was built in 1936.

Khan and his wife, Suzanne Passi Kahn, own the home next door at 105 Ocean Boulevard. They paid about $6.6 million for that property in 2009. It includes a 5,200-square-foot house that was built in 1956 on a nearly 18,000-square-foot lot.

He and his wife also own a waterfront mansion on North Bay Road in Miami Beach.

Kahn co-founded Crescent Heights, a Miami-based development company, with Russell Galbut and Bruce Menin. The company is a prolific developer in Miami and Miami Beach, as well as in Los Angeles, Seattle and Chicago.

Golden Beach, a wealthy town immediately north of Sunny Isles Beach, has experienced a jump in luxury home sales. In June, Sandra Levy, the widow of the late real estate developer Sidney Levy, sold the oceanfront mansion at 577 Ocean Boulevard for $22.2 million.

The previous month, billionaire Phillip Ragon paid $20 million for the oceanfront Golden Beach home that once belonged to Sammy Sosa.





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