A trust belonging to Matthew Whitman Lazenby , president and CEO of Bal Harbour Shops owner Whitman Family Development, paid $17.3 million for an oceanfront mansion in Miami Beach.
The deal is a record price for the Altos Del Mar neighborhood in northern Miami Beach, one of the few parts of the city where single-family homes are directly on the ocean.
Farid Suleman , the former chairman and CEO of Las Vegas radio company Citadel Broadcasting, and wife Jennifer Suleman sold the 6,342-square-foot home at 7825 Atlantic Way to the 7825 Atlantic Way Trust, which belongs to Whitman Lazenby, according to a source familiar with the deal. Northern Trust Co. provided a $11.25 million mortgage to the buyer.
The seller was represented by Julian Johnston of the Corcoran Group while Ben Moss of Compass worked with the buyer. The price equated to $2,728 per square foot.
The Sulemans built the home on the 16,000-square-foot lot in 2015. The property lines goes up to the sand dunes leading to the beach.
The home has eight bedrooms, 8.5 bathrooms, an elevator, an office, a fountain, a large terrace, a roof deck, a summer kitchen, and an infinity pool.
Whitman Lazenby is the fourth-generation leader of Whitman Family Development, which owns the Bal Harbour Shops. The company helped develop the retail space at Brickell City Centre.
This isn’t the only big real estate move for his family lately. His parents, Gwen Whitman Lazenby and Robert A. Lazenby , recently sold their Miami Beach home .
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