Whitmans sell waterfront Miami Beach home

Todd and Karen Whitman sold it for nearly double the price they paid in 2017

1001 North Shore Drive, Sale
1001 North Shore Drive (Google Maps)

Members of the Whitman family sold their waterfront Miami Beach home.

Todd Allen Whitman and Karen Whitman sold their five-bedroom, five-and-a-half-bathroom house at 1001 North Shore Drive for $9.5 million, records show. Todd is a son of the late Dudley Whitman, whose late brother, Stanley, founded Bal Harbour Shops.

SM La Playa LLC, which is managed by Sebastian Gallo, Mariano Mazur and Pablo Coll of Montevideo, Uruguay, bought the 4,490-square-foot house. The Normandy Shores home sits on a 0.4-acre lot with 95 feet of bay frontage, a pool, dock and boat lift, according to the listing. It was built in 1952 and has been renovated.

The house hit the market in March for nearly $12 million, and the price was reduced in June to $10.3 million. Patrick Haywood of Charles Rutenberg Realty in Fort Lauderdale represented the Whitmans in the sale, according to Realtor.com. Romina Grinberg of Brown Harris Stevens represented the buyer.

The couple paid $4.9 million for the house in 2017, which means they sold it for nearly double.

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In 2018, the Whitmans sold their non-waterfront Bal Harbour home to Duty Free Americas CEO Simon Falic for $5.5 million. The Whitmans had inherited the property from the William F. Whitman Living Trust in 2008.

Dudley Whitman owned Challenger Marine, a boat company, according to published reports.

Matthew Whitman Lazenby, grandson of Stanley Whitman, now heads Whitman Family Development. In June, he sold his oceanfront home in the Altos Del Mar neighborhood of Miami Beach for $21 million, a little over a year after buying it, to an entity tied to the Metropoulos family.

In addition to Bal Harbour Shops, which is undergoing an expansion, Whitman Family Development also owns a stake in the retail component of Brickell City Centre in Miami.

Sale prices have been rising in Normandy Shores, an island just west of the barrier island of Miami Beach. In November, former Miami Beach commissioner Jerry Libbin sold his waterfront Normandy Shores house for about $5.5 million to Miami Beach real estate agents Kevin Brill and Brett Harris, who plan to build a spec mansion.