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Is rocker Lenny Kravitz going to ‘Fly Away,’ like the title of one of his hit songs, from Grammy Award winning album 5, suggests? Today, Kravitz listed his Miami Beach home located at 7936 Biscayne Point Circle for $2.85M. He purchased the property in 1997 for $725k.

Located on the tip of Biscayne Point, the peninsula just north of Normandy Island, Kravitz’s residence offers unobstructed views of Biscayne Bay, not to mention spectacular sunsets. Biscayne Point is a guard gated community located in the northern part of Miami Beach.

Property Highlights

Lot Size: 12,150 SF
Living Area: 5,717 SF
Built in 1954
Not his first picnic in Miami Beach residential real estate, Kravitz sold his Sunset Island 2 home, 1800 W 25 Street, when the market was soaring in 2005 to developer Steve Muss for $14.5M. Kravitz purchased the property in 2001 for $8.9M.

Further adding his mark to South Florida, he launched a new business, Kravitz Design. Maybe you have seen his work, he is the creative behind the Delano Hotel’s ultra chic lounge, The Florida Room, which opened in December 2007. True to the music industry, Kravitz fused his new venture with his staple by designing a recording studio in the luxurious Miami Beach condo-hotel, Setai, that opened in 2008. A two-story penthouse, Setai Recording Studio (as it is know in the music world) offers 2,500 SF with state of the art equipment and inspiring views of the Atlantic Ocean.

At the 2005 MTV Music Awards, Kravitz proudly called Miami home, let’s hope he continues to spread more of his luster over our beautiful city.



 

1736 W 28 STREET, SUNSET ISLAND 1, MIAMI BEACH, FLORIDA 33140

Last weekend, the residence located on Sunset Island 1, at 1736 W 28 Street, was listed for $29,900,750. Seller, George Lindemann, Jr., purchased it in 2000 for $8.425M. Located in one of Miami Beach’s exclusive guard gated neighborhoods, this particular property occupies three point lots on the south western tip of the island, offering panoramic views of Biscayne Bay, the Intracoastal Waterway and Downtown Miami. Built in 1936, the classic structure was designed by renowned twentieth century architect, Maurice Fatio.

Property Highlights

Lot Size: 70,886 SF
Living Area: 11,388 SF
5 bed, 5 bath , 2 half bath
I cannot help but compare this new listing to the sale of vacant land located at 2500 Bay Avenue on Sunset Island 2, which closed for $22M in October 2008. This transaction was the second highest residential sale on Miami Beach. Not surprising, the property location is the ultimate, occupying 83,852 SF on the western tip of Sunset Island 2.

In case you are wondering, the highest residential sale on Miami Beach was recorded in 2006 for the property located on Star Island at 10, 11 and 12 Star Island Drive. Lennar CEO and Director, Stuart Miller, purchased the property for $27M. Other residents of Star Island include Sean ‘Diddy’ Combs, Gloria and Emilio Estefan and Shaquille O’Neal.

Is another record sale in the car



 

The Sunset Islands is an exclusive neighborhood of luxurious single family homes located in Miami Beach overlooking Biscayne Bay to the west. The community of both waterfront and non waterfront properties is comprised of four guarded islands located between 21st and 29 streets. Sunset Island 1 and 2 are accessible through 29 Street, west of North Bay Road. Entry to Sunset Islands 3 and 4 is at the southern most part of North Bay Road on 21st Street. The Sunset Islands attract a variety of residents including celebrities, Anna Kournikova and boyfriend, Enrique Iglesias; South Beach Diet author Dr. Arthur Agaston; Miami Beach developer, Steve Muss who acquired his home from rockstar, Lenny Kravitz ; architect Chad Oppenheim; as well as many pillars in the community. Yachtsman seek out the The Sunset Islands as the location offers no fixed bridges, allowing larger vessels unrestricted access to the Intracoastal Waterway and the Atlantic Ocean.

I just reduced the list price of 1460 W 28 Street, a waterfront home on Sunset Island I, from $4.395M to $3.99M. Prices have not been in this range since the early part of the Millennium. This particular property has an open floor plan, classic appointments and abundant natural light. The sellers have plans designed to construct a new home, however the current structure, built in 1947, is charming and beautifully maintained. Either way, the property is a bargain, where else in Miami Beach can one find a home on a guarded island, with 100FT of water frontage for less than $4M? Currently there are four waterfront properties offered for sale on Sunset Island 1. These homes are all located on the same street as 1460 W 28 Street, but the asking prices significantly exceed this property, ranging from $29.9M to $4.5M.

1460 W 28 Street: Property Highlights

Lot Size: 20,000 SF
Interior Living: 3,643 SF
100′ of water frontage
Boat dock
4 bed / 3 bath
2-car garage
No fixed bridges
Plans for new home
2008 Closed Sales: Sunset Islands *

SUNSET ISLAND 1:

1525 North View Drive sold for $6.25M
SUNSET ISLAND 2:

1401 West 27 Street sold for $10M
1425 West 27 Street sold for $5.7M
SUNSET ISLAND 3:

2277 Sunset Drive sold for $4.6M**
*These four waterfront homes which sold on the Sunset Islands in 2008 had an average sale price of $877.19 SF

** I will take credit where it is due, this was my listing, and I sold it directly to the buyer



 

Tags:  North Bay Road



One of my clients, like many buyers today, was having an identity crisis. Who was he, an owner or a renter? Until last week, he was a SIDELINER, a browser looking for a deal in the Miami Beach real estate market. He was on the verge of leasing a unit at the Continuum I on South Beach, when I introduced him to a mid century modern house at 6050 North Bay Road. This property was on the market for less than two weeks, my client recognized the opportunity I presented him with and jumped on it! Calculating the numbers, he concluded it was more cost effective to maintain the house than spend $10,000 a month renting a 2/2 in the Continuum I. Built in 1951, 6050 North Bay Road sits on a lot just under 20,000 SF with 77 FT of water frontage, unobstructed views of Biscayne Bay and a spacious interior with over 4,000 SF. Next door neighbor, Oscar Award winning movie star Matt Damon, paid $4.2M in December 2005 for virtually the same size lot, although the house was a tear down. Damon’s primary residence was acquired in April 2005 for $10.3M.



 

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