search

The Real Deal Logo

Trending

H-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlordsHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraud
Residential
South Florida

Private equity honcho pays $25M for Golden Beach spec manse

Sale likely a record for non-waterfront homes in Miami-Dade County

Scott Collins of Summit Partners and the property at 436 Ocean Boulevard (436 Ocean Boulevard provided by OneSothebys.com, Summit Partners)
Scott Collins of Summit Partners and the property at 436 Ocean Boulevard (436 Ocean Boulevard provided by OneSothebys.com, Summit Partners)

An executive at private equity firm Summit Partners paid $25 million for a new non-waterfront spec mansion in Golden Beach, likely marking a record price for dry home sales in Miami-Dade County.

DM Golden Beach LLC sold the 13,200-square-foot, six-bedroom estate at 436 Ocean Boulevard to Scott C. Collins and his wife, Ghislaine Collins, according to property records. The seller is managed by Dmitriy V. Mashchenko.

Scott Collins is COO and a managing director at Boston-based Summit, which has more than $35 billion in assets under management.

The mansion, on less than an acre in Golden Beach, was completed this year. Inga Boutboul with One Sotheby’s International Realty represented the seller. Lisa Van Wagenen with Brown Harris Stevens Miami represented the buyer, according to Realtor.com. Both agents declined to comment.

Sign Up for the undefined Newsletter

436 Ocean Boulevard (436 Ocean Boulevard provided by OneSothebys.com)

436 Ocean Boulevard (436 Ocean Boulevard provided by OneSothebys.com)

The estate hit the market for $25 million in May and sold for the asking price. The home includes a separate entrance for the “office tower,” service quarters, two master suites, a food elevator, and a 180-bottle wine wall and bar that features a sliding glass door to show “prestigious” vehicles, according to the listing.

Non-waterfront spec homes have been trading for record prices across a number of South Florida neighborhoods during the past year, and this deal likely marks an all-time record in Miami-Dade County, despite the recent residential slowdown. In Miami Beach, the record for non-waterfront home sales is $12.5 million for a home on the Sunset Islands.

In Golden Beach, retired radio host Tom Joyner sold his oceanfront home in July for $19 million, and software billionaire Phillip Ragon paid $92.9 million in June for three adjacent oceanfront homes that he plans to tear down.

Read more

Tags
Golden BeachHome SalesLuxury Real EstateRecordsSpec Homes