Houston woman buys Miami Beach mansion for $20.5M

Houston woman buys Miami Beach mansion for $20.5M

A waterfront mansion on Sunset Islands in Miami Beach sold for $20.5 million, registering a big gain in value a year and a half after its last trade.

CBWT Miami LLC, managed by Stuart I. Grossman in Miami, sold the 5,585-square-foot home at 1365 N. View Drive to Shalini Radha Gutpa , who listed a Houston address on her mortgage. JPMorgan Chase Bank provided a $14.35 million mortgage to the buyer. Jill Hertzberg and Jill Eber of the Jills Zeder Group at Coldwell Banker represented the seller in the deal, while Alejandro Diaz Bazan , also from the Jills Zeder Group, worked with the buyer.

The price equated to $3,671 a square foot.

The home last sold for $13.9 million in early 2021, so it had a big gain in value. That’s a reflection of the strong demand for waterfront homes in Miami Beach as more wealthy people move to the city, and few homes are listed for sale.

Built on the 31,890-square-foot lot in 1951, the home has five bedrooms, 5.5 bathrooms, a pool, a dock and a three-car garage.

Click here to view original web page at www.bizjournals.com