A firm led by Nick Woodhouse , the president and chief marketing officer of New York-based Authentic Brands Group, and his wife, Jocelyne Woodhouse , paid $17 million for a Miami Beach mansion that’s currently under construction.
Developer Brett Palos , the head of London-based Palos Development, explained that the home broke ground six months ago and will be completed in about a year.
“This is the third or fourth time we have pre-sold a home prior to completion,” said Palos, who has built over a dozen homes in the area. “That way, the client knows what’s coming and they have the opportunity to effect changes to the home that might suite their needs.”
Palos’ company, 58 La Gorce Circle LLLP, sold the 18,000-square-foot lot along the water at 50 La Gorce Circle to Cashwood Investments, managed by the Woodhouses. When completed, it will total 8,945 square feet, with seven bedrooms, eight bathrooms, two half-bathrooms, a pool, and a dock.
Esther Percal of Berkshire Hathaway HomeServices EWM Realty listed the home.
Palos said the deal includes furnishings on the ground floor and the master bedroom.
Miami Beach-based Bart Reines is the general contractor, and both Miami-based Kobi Karp Architecture and London-based Argetn Design did the architecture and interiors.
Palos said what made the home especially desirable was its location on La Gorce Island, where few new homes are available. This private island has an exclusive country club with a popular golf course.
“That location is very coveted now with its privacy and security,” he said.
This deal continues the influx of wealthy New Yorkers to Miami Beach. Nick Woodhouse has been a leader for 10 years at Authentic Brands Group, which manages global brands, including the intellectual property and image of cultural icons including Marilyn Monroe, Elvis Presley, and Muhammad Ali.
In June, the Woodhouses bought a condo at Turnberry Ocean Club in Sunny Isles Beach for $5.2 million.
