An oceanfront Palm Beach home traded hands for $36 million, marking the latest off-market sale of a luxury estate in South Florida.
A trust managed by attorney John J. Raymond Jr. sold the 5,100-square-foot, four-bedroom, four-and-half-bathroom house at 1632 South Ocean Boulevard, property records show. Xiao Liu and Dapeng Zhu, a married couple, purchased the home.
The house was built in 1955 on a 0.7-acre lot and previously sold in 2020 for $14 million. That means the seller made more than double its investment in six years. The house will likely be torn down.
Last month, a former Red Bull executive paid $55.2 million for a waterfront mansion that the Frisbie Group built in 2018 on a 0.9-acre lot.
In Miami-Dade, former Nicklaus Children’s Hospital CEO Dr. Narendra Kini and his wife, Dr. Rekha Kini, paid $6.4 million for a condo at the recently completed Una Residences. Narendra is currently founder and CEO of Upaya Health, a Miami-based biotechnology and wellness company led by doctors.
Billionaire Vlad Doronin’s OKO Group and Jonathan Goldstein’s Cain International completed the 47-story, 129-unit glassy high-rise at 175 Southeast 25th Road in Miami earlier this year. The Kinis’ unit has five bedrooms, seven bathrooms and spans nearly 5,600 square feet, according to a Zillow listing.
In a separate sale, hedge fund manager John Sette, formerly of the private equity firm Vista Equity Partners, and his wife Nicole, sold their waterfront Miami Beach home for $9 million. The five-bedroom, five-and-a-half-bathroom house at 1825 Cleveland Road in the Biscayne Point neighborhood was listed with Douglas Elliman’s Dina Goldentayer. Yaron Lavi with Sterling Equity Realty represented the buyer, whose identity is unknown. The 4,473-square-foot home was built in 2016. It previously sold for $5 million in 2021.
In another deal, serial entrepreneur Moishe Meidar and his wife, Margalit, sold their Coconut Grove condo at the Residences at Vizcaya for $5.8 million. Philippe Giraud paid $1,300 per square foot for a 4,500-square-foot unit at 3535 Hiawatha Avenue in Miami. It previously sold in 2021 for $5.4 million.
Giraud is founder and CEO of Actium, which sells and distributes beauty products, jewelry, watches, clothing, accessories and drinks, according to his LinkedIn. Compass’ Liz Hogan represented the Meidars, and Elisabeth Gazay with One Sotheby’s International Realty represented the buyer.
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