BorgWarner executive Stefan Demmerle sold a waterfront spec home in Miami Beach’s gated Normandy Shores neighborhood in North Beach for $16 million, as South Florida real estate’s busy season revs up.
Records show Stefan and Susanne Demmerle sold the house at 1155 North Shore Drive to DVK Florida LLC, a Texas entity managed by Daniel V. Knox. Stefan Demmerle is president and general manager of Auburn Hills, Michigan-based BorgWarner’s PowerDrive Systems.
Todd Nordstrom of Compass and John Bowes of LoKation had the listing, and Roberto Quiroz of One Sotheby’s International Realty brought the buyer.
The Demmerles bought the 0.3-acre North Shore Drive property for $3.1 million in 2016, records show. They tore down the existing home and completed the 5,400-square-foot, five-bedroom house earlier this year, according to the listing. It has four bathrooms, one half-bathroom, a pool and 92 feet of waterfront, the listing shows.
It hit the market for $18.1 million in September, Realtor.com shows.
Normandy Shores is a gated community with a golf course, private club, tennis, pickleball and basketball facilities. Luxury buyers have flocked to South Florida’s gated communities in recent years, prioritizing privacy and security in their purchases, agents say.
Normandy Shores has attracted some high profile buyers in recent years. Andy Ansin, president and CEO of Sunbeam Properties and member of the billionaire Ansin family, dropped a combined $22.1 million on three adjacent properties in 2022 and 2023.