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Related’s Steve Patterson sells Miami Beach house for $15M
Half-acre property has 300 feet of waterfront, includes pool and guest house
Related Group’s Steve Patterson sold his waterfront Miami Beach house for $14.8 million.
Records show Patterson and his wife, Carly Patterson, sold the home at 2901 Flamingo Drive to Flaminglet LLC, a Delaware entity. The true buyer is unknown.
Jeri Jenkins of Coldwell Banker Realty represented both the buyer and the seller in the deal.
Patterson is president and CEO of Related Development, Related Group’s multifamily and mixed-use division, according to the company’s website. Patterson has led the division since its establishment in 2010, and has since overseen the construction of 5,500 rental units.
The Pattersons bought the half-acre Flamingo Drive home for $6.2 million in 2016, property records show. The 6,400-square-foot, six-bedroom house includes five bathrooms and one half-bathroom, according to records. Built in 2015, the home also includes a one-bedroom, one-bathroom guest house, a pool, dock and 300 feet of waterfront, the listing shows.
The house first listed for $16.9 million in September, Redfin shows. The listing price dropped to $15.5 million in January. The price cut reflects a shift in favor of buyers in South Florida’s luxury market, with discounts becoming increasingly common. That’s not to say prices are dropping –– record sales continue to close, including a waterfront Bay Point mansion in Miami that sold for $38.5 million in February.
While the Pattersons are parting with this Miami Beach house, the couple will still have roots in the area. In April of last year, they bought a 2,800-square-foot unit in the Continuum at 100 South Pointe Drive in South Beach for $10 million.
In 2021, another real estate honcho sold a Miami Beach home. Jessica Goldman Srebnick and her husband, Scott Srebnick, sold their La Gorce Island house and bought a waterfront mansion in Miami’s Bay Point.