Waterfront Miami Beach estate flips for nearly 50% gain in 4 months

It sold for $19M in May

Alejandro Diaz Bazan and Andres Isaias of Andian Group with the property (Bazan)
Alejandro Diaz Bazan and Andres Isaias of Andian Group with the property (Bazan)

Andian Group sold a waterfront Miami Beach estate for $28.1 million, almost $10 million more than the firm paid for the property in May.

Andian, led by Andres Isaias and Alejandro Diaz-Bazan, renovated the 10,459-square-foot mansion at 6385 Pine Tree Drive Circle and flipped it in about four months for 48 percent more than it paid, Diaz-Bazan said. The buyer is the Klein Family Trust.

The Mediterranean-style estate, built in 1937 and later expanded, now includes nine bedrooms, 11 bathrooms and two half bathrooms. Andian renovated the two smaller structures on the 1.1-acre lot, adding a movie theater, spa, hair salon and gym, according to Isaias.

The Pine Tree Drive property also includes a 100-foot dock with a boat lift and jet ski lift, a four-car garage, two-car garage,a koi pond, sculptured gardens, and new landscaping.

Diaz-Bazan and Danny Hertzberg, both with Coldwell Banker’s The Jills Zeder Group, represented the seller. Jill Hertzberg of the same team brought the buyer.

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Andian affiliate 6385 P Circle LLC paid $19 million for the property in May.

Andian Group has built spec homes in Miami Beach in the past, and sold a waterfront mansion on North Bay Road in February for $23.7 million.

Flips of luxury single-family homes are becoming more common due to a shortage of inventory in South Florida.

A company tied to Michelle Simkins recently flipped a waterfront Allison Island home in Miami Beach for $9.1 million, about $4 million more than it last sold for in March.

Last month, an oceanfront Golden Beach home sold for $8.2 million, nearly 45 percent more than its previous sale in late December.