The waterfront Miami Beach lot once home to Colombian drug lord Pablo Escobar in the 1980s now has a new owner.
Chicken Kitchen founder Christian de Berdouare and his wife, former local news anchor Jennifer Valoppi, sold the 30,000-square-foot property at 5860 North Bay Road to developer Jarrett Posner, founder and chairman of New York City-based BMC Investments, for $10.95 million.
Mirce Curkoski and Albert Justo of One Sotheby’s International Realty represented the sellers, while Brett Harris of Douglas Elliman brought the buyer.
The buyer plans to build a new mansion on the property to live in, Harris said. Todd Michael Glaser is the owner’s representative and Domo Architecture + Design is designing the house.
Harris called it a “special property for a special family,” and one of the best remaining lots on North Bay Road with views of downtown Miami.
Posner is a grandson of the late real estate mogul and former corporate raider Victor Posner. Jarrett’s brother is Miami Beach investor and Grafton Street Capital co-founder Sean Posner.
De Berdouare and Valoppi demolished the house in 2016 with plans to build a spec home on the property. The couple paid $9.65 million for the home in May 2014. At one point, they listed the property for sale for $21 million, later dropping the price.
Escobar, who was shot and killed in 1993 in Medellín, paid $760,000 for the North Bay Road home in 1980. It was seized by the government in the 1980s.
The high-end waterfront residential market in Miami Beach has been on fire over the past few months. Nearby on North Bay Road, the billionaire founder of Shutterstock paid a record $42 million for a waterfront mansion just north of Mount Sinai Medical Center.
Earlier this week, the CEO of AmeriSave Mortgage Corp. paid $8.2 million for a waterfront Miami Beach teardown at 6050 North Bay Road, next door to his mansion. And hospitality mogul David Grutman closed on Grammy-winning Spanish artist Alejandro Sanz’s house at 2050 North Bay Road, where he plans to build a new home.
The post Pablo Escobar’s former Miami Beach property sells for $11M appeared first on The Real Deal Los Angeles.
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