Bal Harbour Shops owner Matthew Whitman Lazenby sold his oceanfront home in the Altos Del Mar neighborhood of Miami Beach for $21 million, a little over a year after buying it.
The buyer appears to be tied to the Metropoulos family. Daren Metropoulos, a son of Greek-American billionaire C. Dean Metropoulos, owns and lives in the mansion next door, which he acquired last year for $18 million.
A trust that The Real Deal previously linked to Lazenby sold the 8,682-square-foot, seven-bedroom house at 7825 Atlantic Way to Miami Breeze LLC, a Delaware entity. Lazenby paid $17.3 million for the property in February 2021, so it sold for 21 percent more in 16 months.
Evan Metropoulos, Daren’s brother and a son of Dean Metropoulos, owns a Key Biscayne mansion through a similarly named Delaware LLC to the buying entity, called Boca Breeze LLC.
7825 Atlantic Way
Both Evan and Daren Metropoulos relocated to Miami-Dade County from Los Angeles, records show. They are principals at their father’s company Metropoulos & Co. Daren Metropoulos purchased the Playboy Mansion in Los Angeles for $100 million in 2016.
Metropoulos & Co. has invested or owned a number of household brands, including Hostess Brands, Twinkies, Chef Boyardee and others, according to its website. C. Dean Metropoulos is worth $2.7 billion, according to Forbes.
Lazenby is president and CEO of Whitman Family Development, which also owns a stake in the retail component of Brickell City Centre in Miami. Bal Harbour Shops is currently undergoing a nearly half-billion dollar renovation.
7825 Atlantic Way
Ben Moss with Compass represented Lazenby in the most recent sale of 7825 Atlantic Way, according to Realtor.com. Miltiadis Kastanis with Douglas Elliman represented the buyer, according to the same listing, which was taken down after The Real Deal reached out to the agents involved in the deal.
Kastanis also represented Daren Metropoulos in his $18 million purchase of the adjacent Altos Del Mar property last year.
Kastanis declined to comment. Moss declined to comment on the buyer, as well as the seller’s plans.
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The property hit the market in August for $24.3 million. The house, on a 0.4-acre lot, was built in 2015. Raymond Jungles designed the garden and rooftop terrace, and the property includes a cabana kitchen and family room, a covered loggia, summer kitchen and bar, and infinity pool, according to the listing.
Lazenby bought the house after selling his Lakeview home at 544 Lakeview Court in Miami Beach for $12.4 million.
Altos Del Mar is a gated oceanfront neighborhood that’s south of the North Beach Oceanside Park in Miami Beach, between 77th and 79th streets. Last May, Victor Ciardelli, president and CEO of Chicago-based Guaranteed Rate, paid $37.5 million for an oceanfront home and adjacent lot at 7709 Atlantic Way.
Three waterfront homes are on the market in Altos Del Mar, according to Realtor.com. Corcoran agent Julian Johnston has two listings: the house at 7737 Atlantic Way, asking $21 million, and the property at 7833 Atlantic Way, asking $26.5 million. The home at 7717 Atlantic Way is on the market for $25 million with Michelle Silva Lindquist of Daprile Properties Florida.