The former site of the Bal Harbour Yacht Club has sold for a county record of $54.931 million after hitting the market in March for $65 million. The transaction was overseen by Tony Imbesi of Douglas Elliman who represented the seller, and Dina Goldentayer of Douglas Elliman who represented the buyer. The 80,040 SF lot was recently converted into a residential home site by real estate investor Joseph Imbesi, who purchased the Bal Harbour Club in the 1990’s. Adam Neuman purchased another property from Imbesi on Bal Harbour Marina just last week for $44 million.
Located at 200 Bal Bay Drive, the 80,040 SF lot is where the Bal Harbour Yacht Club building, designed by Alfred Browning Parker, once stood. The property is a peninsula with 915’ of waterfront spanning three sides and also features 200’ of road frontage. It comes with 7 boat slips on the inside of the protected waterway where the buyer will have the riparian rights to build new docks or helipad. Land under water on inside of marina is privately owned so you have the ability to do something creative that extends far off of the seawall.
Imbesi purchased the shares of the Bal Harbour Club in the 1990s for $19,000,000. The Bal Harbour Club owned 5.5 acres on the beach, where Oceana Bal Harbour is now located and 10 acres on the bay, where the marina sits. The properties were owned by the proprietary members of the club and they wanted to sell so Imbesi bought all of the individual shares to gain control of the company and the assets that it owned.
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