Real Estate Blog

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.