Menachem Kranz Sells Miami-Dade Home for Record Price

A newly built waterfront mansion on Bay Harbor Islands sold for $21.8 million and over $2,700 per square foot, the latter of which is a record price in the town.

Property records show 9525 BH 2 LLC, led by Menachem Kranz, sold the 8,000-square-foot home at 9640 West Broadview Drive. Kranz declined to identify the buyer, and the deed has not yet been recorded.

The sale of the eight-bedroom, 10-bathroom home nears a record set by the nearby property at 9520 West Broadview Drive, which sold in 2024 for just under $22 million.

Kranz worked with builder Michael Jaar on the house at 9640 West Broadview Drive. The home was designed by Stephanie Halfen of SDH Studio with interiors by Alizée Brion and landscaping by CLAD, Kranz said. Kranz’s wife, Dina, also worked on the design. He said the house was designed for a family, with family rooms on both levels, a waterfront pool and covered outdoor space.

The 0.3-acre property includes an air-conditioned two-car garage, 80 feet of water frontage with a dock, and a 2,250-square-foot rooftop terrace, according to the listing.

Moshe Goldshtein and Vanessa Frank of One Sotheby’s International Realty represented the buyer and seller. Goldshtein was also involved in the previous sale of the land, representing Kranz on his $6 million purchase in 2022.

The house was on the market for just six days before the buyer signed a contract, Goldshtein said.

“I had a handful of buyers who were asking if the buyer would flip the contract,” he said.

“There’s too much demand and there’s no inventory of turnkey $15 million, $20 million-plus homes on the water. That’s been the biggest challenge we have in the market.”

The deal came together at the “right price, right time,” Kranz added. The buyer leads a company that’s relocating to South Florida.

Bay Harbor Islands, once a sleepy town, has also seen a wave of developments and significant price growth post-pandemic. Earlier this year, soccer legend Ronaldo Luís Nazário de Lima, known as Ronaldo, paid $7.8 million for a penthouse at Onda, a waterfront condo development at 1135 103rd Street.

Other new projects include three luxury apartment buildings by Clara Homes, Continuum Company’s two-phase La Baia condo development, VDA Origin Miami, Landau Properties and Taubco’s One Kane Concourse office building, and Terra’s 113,000-square-foot, five-story Well office and retail development. The Well was just completed, and tenants include Dwight Capital and Tom Brady’s TEB Capital Management.