From the South Florida Site: Songwriter, rapper and music magnate Timbaland, a producer for artists such as Justin Timberlake and Nelly Furtado, has sold his Miami Beach condo at the Murano Grande building for $4.8 million, The Real Deal has learned.
The property, which came on the market in August, will sell to a prominent New York-based attorney who already resides in the same building, the buyer’s broker Diana Conforti of Douglas Elliman’s Alexander Team told The Real Deal. Timbaland was represented by Oren Alexander, also of the Alexander Team.
The deal went under contract Nov. 29 and will close Dec. 16, Conforti said.
Timbaland, real name Timothy Zachery Mosley, reportedly purchased the unit, at 400 Alton Road in Miami Beach, for $2.7 million in 2006. He had planned to make it his primary residence but never moved in, Conforti said. She said she was not sure of the reason for his change of heart. Instead, he listed the unit for $5.2 million this summer.
The three-bedroom, four-bathroom property totals almost 4,000 square feet, according to the listing. Timbaland gut-renovated it and installed a state-of-the art sound system as well as a Portuguese limestone shower and Italian marble countertops.
Conforti declined to identify the buyer but said he was looking to upgrade and will now list his previous unit in the building for sale, asking $4.5 million.
In a statement, Alexander told The Real Deal that the deal “is a good testament to the hot Miami market.”
“It’s 80 degrees with clear skies today in Miami Beach,” he said. “No wonder New Yorkers are buying.”