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

Miami /
Sep.September 15, 2021 10:30 AM
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.

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.






    Related Articles

    arrow_forward_ios
    Steve Stoute and the Pine Tree Drive Circle mansion (Getty)
    Music exec Steve Stoute behind $28M Miami Beach deal: sources
    Music exec Steve Stoute behind $28M Miami Beach deal: sources
    Luxury car tycoon pays $7M for manse in Aventura’s Island Estates
    Luxury car tycoon pays $7M for manse in Aventura’s Island Estates
    Luxury car tycoon pays $7M for manse in Aventura’s Island Estates
    Attorney sells oceanfront Delray Beach mansion for $34M
    Attorney sells oceanfront Delray Beach mansion for $34M
    Attorney sells oceanfront Delray Beach mansion for $34M
    From left: Francisco Llado, Gil Dezer, Amir Korangy, Paulo Bacchi, Edgardo Defortuna, Jay Parker, Daniel de la Vega (Artefacto, Getty)
    Is Miami’s residential architecture overplayed? No way!: TRD panel at Artefacto
    Is Miami’s residential architecture overplayed? No way!: TRD panel at Artefacto
    Los Angeles Chargers defensive end Joey Bosa buys a waterfront Fort Lauderdale house for $6M (Daniel Petroni Photography, Getty)
    $6M play: Los Angeles Chargers’ Joey Bosa picks up waterfront Fort Lauderdale home
    $6M play: Los Angeles Chargers’ Joey Bosa picks up waterfront Fort Lauderdale home
    Olivier Brandicourt and 220 Island Drive in Key Biscayne (Getty, Google Maps)
    Former French vaccine chief drops nearly $8M on waterfront Key Biscayne spec home
    Former French vaccine chief drops nearly $8M on waterfront Key Biscayne spec home
    Goooal! Former media exec ensnared in FIFA scandal sells Key Biscayne home for $8M
    Goooal! Former media exec ensnared in FIFA scandal sells Key Biscayne home for $8M
    Goooal! Former media exec ensnared in FIFA scandal sells Key Biscayne home for $8M
    Asdrúbal Cabrera and his his Southwest Ranches mansion (Getty)
    Cincinnati Reds’ Asdrúbal Cabrera sells Southwest Ranches mansion for record price
    Cincinnati Reds’ Asdrúbal Cabrera sells Southwest Ranches mansion for record price
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...