The “Billion Dollar Loser” of WeWork, Adam Newmann, Has Bought Two Bal Harbour Properties for $44 MillionSean McCaughan - 0
Adam Newmann, the long-haired, Kabbalah-following, enigmatic, and egotistical false prophet of WeWork, who was ousted from the company with a severance package that made him a billionaire, has just bought two prime pieces of Bal Harbour real estate for $44 million. Located next to the $65 million peninsula of land where the Bal Harbour Yacht Club used to be, these two properties were purchased from the same investor, Joseph Imbesi, who is parceling off the grand old club's formal landholdings and carefully selling them off.
This monolithic three-story concrete bunker-like building, jazzed up with a contemporary wedge-shaped entrance and a scattering of random windows along the facade, is actually a luxurious private parking garage designed to hold a collection of fifty cars. Located at 3070 SW 38th Court, the 12,354 square foot structure, which also contains an office, a lounge area, and an expansive roof deck, has recently been sold for $4.7 million.
Miami is ground zero for sea level rise. It's also a city of fabulous luxury, and a taste for the aquatic life. Enter Arkup, which is basically an over-the-top, environmentally friendly houseboat as big as a full-sized house that can elevate itself on pilings above the water, like a luxury addition to Stiltsville. And it was designed and built in Miami by two French engineers, Nicolas Derouin and Arnaud Luguet. They are currently showing off the first Arkup, if you will, which at the moment is parked behind a Palm Island mansion and visible to everybody going between Miami and Miami Beach.
The massive train station called MiamiCenral that will be the Downtown Miami terminus of the Florida East Coast Railway's Brightline (formerly known as All Aboard Florida) is taking shape on a long strand of city blocks stretching north from the Dade County Courthouse.
A few days after the Big Bubble covered the sale of Brickell Flatiron Park, from the developers of the Brickell Flatiron tower behind it to a new, and as yet undisclosed, contingent of investors, the Miami Herald posted their coverage of the sale. In that Herald article, the Big Bubble's concern that the park could be fully developed over, turning what is one of Brickell's few green spaces into a retail development, seems like it may be answered.
This lavish, 6,100 square foot penthouse, directly overlooking the ocean on uber-private Fisher Island, has been on and off the market since the beginning of last year. Done up in white, cream, and very light beiges, along with random bursts of turquoise, the unit was on the market for the first four months of 2019, then off, and has been back on again for about $3.5 million less since December. Is all that white (and the turquoise) a bit much, or is it perfect for an era of ultra-luxe quarantining for the ultra-rich. You decide.
Sadly demolished, the Bal Harbour Yacht Club was a magnificent piece of subtropical modern architecture designed by seminal South Florida architect Alfred Browning Parker, in the heart of the exclusive community of Bal Harbour, Florida. Its just-as-magnificent peninsula site survives, with water on three sides and the underwater rights to the lagoon which that peninsula creates, and is now for sale as a private home site for a whopping $65 million.
Since the high flying ‘cocaine cowboys’ era, when it is said Miami’s real estate boom of the ‘70s and ‘80s was funded by cocaine smugglers looking to launder a lot of cash, South Florida has been an attractive place to hide dirty money in real estate. Miami is like any other major global city though, where there is always a bad contingent. Like other highly desirable global cities, such as New York and L.A., and perhaps a little more than those others, dirty money continues to be a big problem in Miami real estate.
In the heart of Miami Shores, this roomy midcentury modern (a.k.a. "Miami Modern" here) house sprawls over a half-acre lot, and includes a unique breezeway or loggia that encloses a courtyard-like lawn area in the back yard, offering plenty of protected outdoor living space, all for $2.599 million. Located at 500 NE 96th St, and listed a few days ago, the house was built in 1950, and has quite a few original details intact, including terrazzo floors and even the brightly colored tile bathrooms that are so emblematic of the era yet very often torn out.
One of the biggest perks of being really rich is having your own plane, but not many people get to park that thing right outside their front door. Jumbolair, the fly-in aviation community in central Florida where everyone has airplane hangars that match their houses, and home of John Travolta, has just been listed for $10.4 million.