Developer Andres Isaias bought a waterfront North Bay Road teardown for $17 million, with plans to tear it down and build a trophy spec home.
Isaias bought the house at 4810 North Bay Road in Miami Beach, his agent Alejandro Diaz-Bazan confirmed. He plans to demolish the existing home and build a 10,000-square-foot spec mansion priced between $60 million and $65 million, he said.
It is the longtime home of Ann Barish, the socialite wife of producer and Planet Hollywood co-founder Keith Barish, property records show. He also produced movies like “The Fugitive” and “Sophie’s Choice.”
Jill Eber with the Jills Zeder Group at Coldwell Banker Realty had the listing. Diaz-Bazan is also a member of the Jills Zeder Group.
Isaias is the head of Andian Group, and is a spec developer who frequently invests in Miami Beach. He bought a waterfront Sunset Islands home for $11 million in 2023. In 2022, he bought two other waterfront teardowns in the Sunset Islands: one for $25.5 million and one for $13.9 million. In 2021, he sold a waterfront spec mansion on North Bay Road for $23.7 million.
Records show Barish bought the North Bay Road house for $4.7 million in 2004. It was built on half an acre in 1933, and spans 6,900 square feet, with five bedrooms, five bathrooms and a pool, according to property records. The home is on a corner lot with 240 feet of bay frontage, Diaz-Bazan confirmed.
Barish listed it for $26 million in 2022, upping the price to $28 million before slashing it to $22.5 million last year, Zillow shows.
Isaias is the latest spec developer to drop millions on North Bay Road development sites in recent months. Spec developer Todd Glaser and his partners are in contract to buy a 2.3-acre estate for $105 million. Developer Philippe Harari’s AquaBlue Group bought a waterfront lot for $17.5 million last month. In February, a trust bought a waterfront teardown for $25.5 million.
Miami Beach’s ultra-luxury market has recently seen a flurry of activity, fueled by high-profile buyers spending big.