David Wallack, the owner of South Beach’s Mango’s Tropical Café, sold his longtime home in Miami’s Morningside neighborhood for a record $16 million.
Wallack sold the waterfront house at 5725 North Bayshore Drive after listing it for $20.9 million in May, according to a press release. The deal has yet to register in public records and the buyer is unknown.
Jill Eber with the Jills Zeder Group at Coldwell Banker Realty represented both the buyer and the seller in the deal.
Wallack founded Mango’s Tropical Café in 1991, and it has been a mainstay in Miami Beach’s nightlife since then. He opened an Orlando restaurant in 2014, according to Mango’s website. He also owns a 14.4-acre estate in unincorporated Miami-Dade County. Dubbed Breezy Oaks, it has three freshwater grottos and is listed for $17.9 million, according to Zillow.
Wallack bought the North Bayshore Drive home, known as “Whispering Pines,” for $600,000 in 1996, property records show. The 3,900-square-foot home was built on 0.9 acres in 1969, and it has four bedrooms, three bathrooms and two half-bathrooms, according to the listing. The property also has a treehouse, a music studio, a 140-year-old gazebo, a pool, dock and 125 feet of waterfront.
Eber said the size of the lot was a major draw. She declined to comment on the buyer’s plans for the property, but said it was a great development opportunity.
“This was pretty much about the property itself,” she said. “I think it’s very hard to find this kind of property with the water frontage you get on the wide bay.”
Wallack listed it for $20.9 million in May, Zillow shows. The sale tops Morningside’s previous price record, which was set in 2021 when Barstool Sports founder Dave Portnoy dropped $14 million on a waterfront home.
Price growth in nearby Bay Point has been even more explosive in recent years. In January, Fatos Rosenberg sold a waterfront estate in the neighborhood for more than $85 million.
