Waterfront Estate in Miami’s Bay Point Sells for Record $85M

A waterfront estate in Miami’s Bay Point sold for just over $85 million, marking one of the most expensive home sales ever in Miami-Dade County.

Fatos Rosenberg sold the 1.7-acre property at 4445 Sabal Palm Road to an undisclosed buyer, sources told The Real Deal. It hit the market in late 2023 for $92 million, but the listing was removed early last year and the home was sold off-market.

Waterfront Estate in Miami’s Bay Point Sells for Record $85M — 4445 Sabal Palm Road (Mark Roskams)

The deal closed this week, sources said.

The sale of the 20,500-square-foot mansion, with 11 bedrooms, 12 bathrooms and four half-bathrooms, sets a record for the Bay Point neighborhood. It’s also the priciest single-family home in Miami-Dade since billionaire Ken Griffin paid nearly $107 million for Adrienne Arsht’s former estate in Coconut Grove in the summer of 2022.

Stephanie Jourdan Pedron of Consultants Immobilier represented Rosenberg. Viviane Wolak of One Sotheby’s International Realty represented the buyer. The agents could not be reached for comment.

The property includes a pool, two docks and 400 feet of bay frontage. It was developed in 2008 and expanded in 2017, records show.

Bay Point, a gated community that’s north of Edgewater and the Miami Design District, has seen significant price growth in recent years. The previous record was set in early 2023 with the $38.5 million sale of Adonel Concrete CEO Luis García’s waterfront mansion. Before that, the $18 million trade of a waterfront mansion on the same street in late 2021 held the record.

Though sales activity has dropped significantly, buyers are still paying top dollar for new or renovated homes, and are also still acquiring land. In October, David and Victoria Beckham paid $72.3 million for a waterfront spec mansion in Miami Beach, setting a record for the city’s North Bay Road.

And a month earlier, consumer goods multimillionaire Anand Khubani paid $100 million for an assemblage of land on La Gorce Island in Miami Beach.