A waterfront home on North Bay Road in Miami Beach has sold for $27 million, Gimme Shelter has learned.\u00a0<\/p>\n
While that\u2019s less than the original\u00a0$32.5 million ask last October<\/a>, it\u2019s still a massive $10 million-plus profit for the sellers, hotelier\u00a0Keith Menin and Rockstar Energy founder Russell Savage, formerly known as Russell Weiner. <\/p>\n Menin and Savage paid $16.1 million for the property at 5300 N. Bay Rd. in 2024 and then renovated it.\u00a0<\/p>\n This gorgeous North Bay Road home sold for $27 million in cash. Legendary Productions \/ MR Luxury Group at ONE Sotheby’s<\/p>\n The waterfront compound comes with a pool and a dock. Legendary Productions \/ MR Luxury Group at ONE Sotheby’s<\/p>\n The buyer \u201cis a young, successful entrepreneur in tech who has lived in Miami but never on North Bay Road, and he wanted to give it a try,\u201d an insider told Gimme. It was an all-cash deal.\u00a0<\/p>\n The 4-mile road, known as\u00a0Miami Beach\u2019s swankiest<\/a>,\u00a0boasts past and present property owners including Cindy Crawford and Rande Gerber; David and Victoria Beckham; Jennifer Lopez; Shakira; Karlie Kloss and Josh Kushner; Apollo\u2019s Josh Harris, Barry Diller; and Steve Witkoff, Donald Trump\u2019s special envoy to the Middle East.<\/p>\n The resort-style pool is in between the main house and a guest house. Become Legendary \/ ONE Sotheby\u0092s International Realty<\/p>\n Still, it was not the easiest property to sell.<\/p>\n Built in 1998, the compound features a three- to four-bedroom white stucco main house with a Spanish-style roof, along with a separate two- to three-bedroom guest house \u2014 all on just under a third of an acre.\u00a0\u00a0<\/p>\n \u201cThis house was tailored to a very specific buyer. We walked a lot of people through the house. People loved it \u2014 Mediterranean with modern interiors, which Keith [Menin] does very well,\u201d said\u00a0ONE Sotheby\u2019s International Realty\u2019s\u00a0Marko Gojanovic, who shared the listing with fellow brokers Reid Heidenry and Roberto Quiroz, who are all on the same team. (Menin\u2019s past projects include the Gale Miami Hotel & Residences and Mondrian South Beach, along with residences like Cher\u2019s former mansion at 64 La Gorce Circle in Miami Beach.)<\/p>\n The home features an eat-in chef\u2019s kitchen with a breakfast bar and water views. Legendary Productions \/ MR Luxury Group at ONE Sotheby’s<\/p>\n Keith and Eva Menin. Getty Images for Amex x Carbone Beach<\/p>\n \u201cThe renovation was stunning. But the layout wasn\u2019t necessarily optimal for families, given that\u00a0the main home is three bedrooms plus an office and the guest house had two bedrooms plus a gym. It becomes tricky for a family with kids, nannies and staff,\u201d\u00a0Gojanovic said.<\/p>\n \u201cIt came down to who the property could work for \u2014 a younger couple, or a family with one kid, or an elderly couple with older kids. We had a lot of interest, and when we dropped the price, we got it done. It was the right buyer and the right time. Everyone was happy with the trade,\u201d he added.<\/p>\n A living room has lots of entertaining space and a sleek fireplace. Become Legendary \/ ONE Sotheby\u0092s International Realty<\/p>\n Stairs and an arched window add visual appeal. Become Legendary \/ ONE Sotheby\u0092s International Realty<\/p>\n The original architecture and design is by\u00a0Zeb Jarosz.\u00a0<\/p>\n Design details in the main house include 12-foot-high ceilings, plaster walls, hardwood floors, a chef\u2019s kitchen and a living room with a fireplace. A main bedroom suite boasts custom closets, a spa like bath, a sauna and a terrace with a cold plunge.\u00a0<\/p>\n Outside, there\u2019s also a\u00a0saltwater pool and a summer kitchen \u2014 along with a dock.<\/p>\n The main bedroom suite features a charming terrace. Become Legendary \/ ONE Sotheby\u0092s International Realty<\/p>\n Divine dining with water views. Legendary Productions \/ MR Luxury Group at ONE Sotheby’s<\/p>\n The deal shows that the Miami market is still going strong, Gojanovic said, adding that his team has currently closed or signed $500 million worth of deals so far this year \u2014 two and a half times all of last year.\u00a0<\/p>\n \u201cA lot of big things are happening,\u201d Gojanovic said. \u201cIt\u2019s been our most explosive year and our team is getting stronger. The market is in a really good place. There\u2019s is a lot of demand given the California wealth tax<\/a> and New Yorkers<\/a> continuing to move down. Miami is trending very tax friendly and lifestyle friendly. It\u2019s been a monumental, pivotal year in our careers.\u201d\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"A waterfront home on North Bay Road in Miami Beach has sold for $27 million, Gimme Shelter has…\n","protected":false},"author":2,"featured_media":292528,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[12980,803,10462,123,1642,125,124,480,804],"class_list":["post-292527","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-gimme-shelter","tag-luxury-real-estate","tag-mansions","tag-miami","tag-miami-beach","tag-miami-headlines","tag-miami-news","tag-real-estate","tag-residential-real-estate"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/292527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=292527"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/292527\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/292528"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=292527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=292527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=292527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}