June 9, 2022
Wall Street Journal, South Florida Business Journal
Boca Raton partner Gary Itskovich recently represented the seller of one of three oceanfront homes in Golden Beach, Florida, that sold for a combined price of roughly $93 million. Taken as a single transaction, the deal reportedly will set a price record for Golden Beach and the entire Miami area. The three properties (located about 20 miles from downtown Miami) comprise roughly 1.7 acres with about 275 feet of ocean frontage. The purchaser, a software billionaire, plans to replace the houses with a new single-family home, according to the Wall Street Journal.
In a separate deal, Itskovich represented the same client in the sale of a 1-acre vacant parcel in the heart of Edgewater, Miami for $49 million. The deal reportedly equaled the highest price paid per acre for vacant land in the market. The purchaser intends to develop a 40-story mixed-use project that will feature 540 residential units, 14,000 square feet of ground-floor retail, and a 600-slot parking lot.
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