Sale of $15M Non-Waterfront Home Sets Record in Miami Beach

A non-waterfront home on Miami Beach’s North Bay Road sold for $15 million, setting a record for dry lot properties in the city.

The corner home, built in 1925, is across the street from a waterfront mansion owned by model Karlie Kloss and her husband, Joshua Kushner.

Property records show Land Trust N 1 sold the non-waterfront house at 2301 North Bay Road to NBR Miami LLC, a Delaware entity. Richard Elias signed the deed on behalf of the seller. The Miami Beach-based law firm Kellermann Varela is listed for the buyer.

The six-bedroom, four-bathroom house spans more than 5,000 square feet of interior space on a quarter-acre lot. It previously sold for $1.5 million in 2010.

The Mediterranean Revival house was originally designed by Russell Pancoast. Touzet Studio restored the house in 2017, said Jacqueline Gonzalez Touzet.

The latest sale surpasses the previous Miami Beach dry lot record, held by the $13.4 million sale of the non-waterfront home at 6644 Windsor Lane on La Gorce Island in July.

Kloss and Kushner paid $23.5 million for the eight-bedroom, nearly 15,000-square-foot mansion at 2318 North Bay Road in 2020. They also used a Delaware trust to purchase the property.

A number of celebrities have called North Bay Road home over the years, including Cindy Crawford and her husband Rande Gerber, Shakira and the Bee Gees’ Barry Gibb.

Since the pandemic, a handful of deals have set records on the street.

Last year, David and Victoria Beckham paid a then-record $72 million for the waterfront spec mansion at 4736 North Bay Road. Months earlier, billionaire media mogul Barry Diller paid $45 million for the 1.5-acre waterfront lot at 5930 North Bay Road.

Earlier this year, Todd Glaser and the Posner Group paid $105 million for Sonny Kahn’s waterfront estate at 5940 North Bay Road. Glaser and his partner are looking to flip the property for $169 million, or rent it out for $495,000 a month, but Glaser is also moving forward with plans to develop a spec mansion that could hit the market for $300 million.

Next door, billionaire Jamie Salter, the founder, chairman and CEO of Authentic Brands Group, sold his waterfront 0.7-acre property at 5970 North Bay Road in January to brand mogul Anand Khubani for $40 million.

Marcelo Claure, the former CEO of Sprint and SoftBank Group International, is building a waterfront mansion nearby, at 5212 North Bay Road.