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South Florida

Cannabis and crypto investor flips waterfront Bay Point mansion for record $18M

Craig Bridgman sold his house after six months for an extra $1M

A photo illustration of 580 Sabal Palm Road in Miami, FL (Carma Connected, iStock)
A photo illustration of 580 Sabal Palm Road in Miami, FL (Carma Connected, iStock)

A cannabis and crypto investor flipped his waterfront Bay Point mansion for $18 million — $1 million more than its purchase price six months ago.

Craig Bridgman, a private equity investor, sold the home at 580 Sabal Palm Road in Miami, according to records. His entity, Cambridge Capital of Miami LLC, which was created in March, sold the mansion to 580 Sabal Palm Road, a Delaware LLC, records show.

Bridgman had purchased the property in April for $16.9 million, records show. He bought the home from “Million Dollar Listing Miami” star Chad Carroll, according to published reports.

The 11,485-square-foot mansion was built by luxury home builders MV Group USA last year. It was designed by Miami based architect firm Kobi Karp, according to a release. Borges+Associates designed the interiors. Manny Varas, president and CEO of MV Group USA confirmed that Bridgman is a cannabis and crypto investor, which is also cited in published reports.

The two-story house has six bedrooms, eight-and-a-half bathrooms and sits on little more than half an acre, according to Realtor.com. It features a four-car garage, wine cellar and glass elevator. The backyard has a lap pool and chef’s summer kitchen.

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The strength of the luxury home market shows no signs of waning, and Bay Point is becoming one of the latest hot neighborhoods. Click around the interactive map below to see more information about home sales in Bay Point.

In September, singer Joe Jonas and “Game of Thrones” actress Sophie Turner bought a Bay Point mansion at 4400 Island Road for $11 million.

In May, Goldman Properties CEO Jessica Goldman Srebnick and her husband Scott Srebnick bought – through an LLC – a mansion at 4511 Lake Road in Bay Point for $9.2 million.

And in December, former Goldman Sachs executive Stuart Rothenberg and his wife Pamela bought a Bay Point home at 4731 Lake Road for $11 million.

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Bay PointChad Carroll