In the latest roundup of South Florida luxury residential sales, luxury spec developers snapped up and sold properties.
Deals spanned from Coral Gables to Fort Lauderdale and ranged from $10.8 million to $12.4 million.
Coral Gables
In Coral Gables’ Old Cutler Bay gated community, luxury spec developer Francisco Dionicio dropped $10.8 million on a waterfront home.
Records show Dionicio’s Dionicio Investment Group bought the house at 690 Solano Prado from Luis Manuel Valdivieso and Margarita Giacobbe Ciuffreda.
Dionicio has built luxury homes across Miami-Dade County. In July, he sold a Pinecrest spec mansion for $14.3 million.
Valdivieso and Ciuffreda, who are married, bought the house for $6.8 million in 2022, according to property records. It was built on 0.7 acres in 1965 and spans 3,000 square feet, with four bedrooms, three bathrooms, a pool, dock and 240 feet of waterfront. It hit the market for $14.5 million in September.
Michael Martinez of One Sotheby’s International Realty represented the buyer, and Ana Teresa Rodriguez and Virginia Aizpurua of Coldwell Banker Realty had the listing.
Miami Beach
In Miami Beach, a real estate investor sold a waterfront spec home in the gated Biscayne Point neighborhood to hedge funder Jeffrey Feinberg for $12.4 million.
Records show Feinberg bought the house at 1800 Daytonia Road from an entity named for the address and managed by Schottenstein Realty Company executives Jeff Schottenstein and Daniel Sisisky.
Feinberg was previously a managing director of George Soros’ Soros Fund Management, and now manages his namesake Feinberg Investments. He bought a spec mansion in Los Angeles’ Brentwood neighborhood for $44 million in 2021, then failed in his 2022 attempt to flip it for $48 million. He listed it for rent asking $250,000 last month, and has since dropped the price to $195,000, Zillow shows.
Schottenstein and Sisisky’s entity bought the quarter-acre Biscayne Point property for $3.2 million in 2021, records show. They completed the 5,000-square-foot home this year, the listing shows. It has seven bedrooms, seven bathrooms, one half-bathroom, a pool and dock, according to the listing.
Siblings Daniel and Hillary Hertzberg of the Jills Zeder Group at Coldwell Banker Realty had the listing, and Brett Harris of Douglas Elliman brought the buyer.
Fort Lauderdale
In Fort Lauderdale, developer Pascal Nicolai bought an oceanfront lot for $10.8 million, where he plans to build a 10,000-square-foot spec mansion.
Records show an affiliate of Nicolai’s Sabal Development bought the land at 2932 North Atlantic Boulevard from an entity named for the address and managed by Lisa M. Daniel.
Nicolai is an active spec developer across South Florida. Last year, he sold an oceanfront Highland Beach mansion for $30 million.
Daniel’s entity paid $5.4 million for the 0.4-acre property in 2015, property records show. It spans 100 feet of beachfront. Nicolai plans to build a 10,000-square-foot mansion on the site and list it for $45 million, according to a press release. The home will span three stories and include two pools and a rooftop terrace, the release shows.
The site was listed for $16.9 million in 2023, Redfin shows.
Jill Hertzberg and Jonathan Mann of the Jills Zeder Group at Coldwell Banker Realty had the listing, and Amy Nicolai of Florida Realty of Miami brought the buyer.