Waterfront Surfside home that set record in January flips for 20% gain

It sold for nearly $7M in January, and just flipped for $8.5M

9408 Bay Drive
9408 Bay Drive

A waterfront home in Surfside flipped for $8.5 million, marking a new record price, just eight months after trading hands for $6.9 million.

And the previous sale, in late January, had also set a record for single-family home sales in Surfside.

In this latest deal, 9408 Bay Drive LLC, led by Zelman and Leah Oberlander, sold the 6,793-square-foot house at 9408 Bay Drive to Lindsay Rosenwald and Rivki Davidowitz Rosenwald. It traded for 23 percent more than in January.

The house, with seven bedrooms and eight and a half bathrooms, features 50 feet of water frontage and 2,000 square feet of outdoor terrace space, including a rooftop terrace. Sharon Beck of Luxuri International represented the seller, according to an e-blast.

The Oberlanders had acquired the property from spec home developers Reuven and Iris Herssein.

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The record for a single-family home sale in Surfside before the two sales of this property was $5.5 million. Condos often trade for much more.

Oceanfront condo sales had been on the rise prior to the deadly collapse of Champlain Towers South at the southern border of Surfside. In early June, a penthouse at Arte sold for $22.5 million.

Flips have become more common in South Florida, as the inventory of high-end homes has declined, while demand has remained high.
https://therealdeal.com/miami/tag/house-flipping

This month, 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. That marked a 48 percent increase, though Andian Group renovated the home.

In August, the oceanfront Golden Beach home at 407 Ocean Boulevard sold for $8.2 million, nearly 45 percent more than its previous sale in late December.