The president and founder of a global web conferencing company bought a waterfront home in one of Miami Beach’s Sunset Islands for $11.5 million — $3 million more than its last purchase price five months ago.
Property records show David Jannetti, the founder of New York, Southampton-based AT Conference, purchased the property at 1775 West 24th Street, on Sunset Island III, from a Delaware entity.
The 3,127-square-foot house was built in 1946, with several additions in 1952 and 1964. The home sits on a little less than a third of an acre, and comes with four bedrooms and four full bathrooms.
It previously sold for $8.35 million in October, property records show.
AT Conference was founded in 1999 by Jannetti as American Teleconnect, according to published reports. The company changed its name in 2006 to AT Conference. Its services include web conferencing, operator-assisted conferencing, and desktop sharing.
The selling entity is Ever 24th Street, with an Aspen, Colorado address, and lists Bruce J. Smoler as it’s registered agent.
This is the latest sale in what has proven to be an extraordinary run for Sunset Islands home sales. Luxury home sales have boomed, as buyers are lured by the lack of a state income tax and the ability to work remotely.
In January, the Andian Group development firm paid $13.9 million for a waterfront Sunset Island home that was featured on “Miami Vice,” with plans to renovate and flip the property.
One month earlier, luxury home developers Felix Cohen and Shlomy Alexander sold a waterfront Sunset Islands spec home to an undisclosed buyer for $25 million.
In October, Douglas Elliman agent Oliver Lloyd paid $11.2 million for a waterfront Sunset Islands teardown.
Demand for homes has been so strong that prospective buyers have written love letters and offered perks, such as post-sale, rent-free occupancy to sellers, and dropped contingencies to woo buyers.
Some real estate agents have gotten into the game of building spec homes amid the heightened demand.