Modern two-story home in Venetian Islands sells for $23M

Nearly 5K sf newly built residence overlooking Biscayne Bay has waterfront views of Miami skyline

Miami /
Sep.September 03, 2021 04:30 PM
122 West Dilido Drive (Douglas Elliman)

122 West Dilido Drive (Douglas Elliman)

A modern two-story, five-bedroom house in the Venetian Islands sold for $22.7 million.

Keith J. Blum, trustee of the 122 W Dilido Land Trust, purchased the waterfront Villa Tyra at 122 West Dilido Drive in Miami Beach, records show. The seller is Travel Charter Business Ltd., a British Virgin Islands-based company managed by Alexis Serracin and Gabriela Bell.

The buyer partially financed the deal with an $11.9 million loan from JPMorgan Chase, records show. The loan indicates the borrower’s address is the same as the San Francisco home address of David J. Shimmon, former CEO of Ichor Systems, an industrial parts maker.

The property has western views of the downtown Miami skyline and a master suite that features bronze glass doors leading to a balcony overlooking Biscayne Bay, according to an online listing. The house has Italian furnishings, a bathroom finished in onyx and custom Hermes-inspired closets. Amenities include a cinema, a steam room, a hammam, an oversized pool, a hot tub, a lounge, a fire pit and an extended boat dock.

Travel Charter paid $2.7 million for the property in 2009. Records show that in 2016, the company received city approval to demolish the pre-1942 home that sat on the property. The new home was completed last year.

However, the buildout was marred by a legal dispute with the general contractor hired by Travel Charter. Miami Beach-based Buildworks abandoned the job in 2018 after getting the contract two years earlier and failing to complete construction within a 14-month schedule, Travel Charter alleged in a lawsuit filed in Miami-Dade Circuit Court.

The complaint, which is still pending, alleges Buildworks collected $1.7 million of its $2.9 million fee, but only completed 40 percent of the work.

Travel Charter also owns a 10th floor unit in the Continuum South Beach condominium at 100 South Pointe Drive, records show.

Venetian Islands is among the hottest single-family home submarkets in Miami-Dade. Last month, 26-year-old portfolio manager Joshua Patkin bought a five-bedroom waterfront home at 921 North Venetian Drive for $13 million, financing the purchase with an $8.9 million mortgage.

Jeff Franklin, creator and producer of the sitcom “Full House,” picked up 1.2 acres on San Marco Island for a combined $48.5 million. In two separate purchases, he bought 1230 South Venetian Way for $35.5 million and 1236 South Venetian Way for $13 million.

Near Villa Tyra, Roshan Wijerama paid $18.5 million for a waterfront property at 27 East Dilido Drive. Wijerma is owner and chairman of Horizon Group USA, a Warren, New Jersey-based supplier of childrens’ craft components and activity kits.





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