Bal Harbour Waterfront Estate Fetches $29 Million
A waterfront property at 216 Bal Bay Drive sold for just under $29 million, marking the week's top residential transaction. Meanwhile, the Biscayne Shores apartment complex traded for $151.4 million in Miami-Dade's largest commercial deal.
A waterfront estate in Bal Harbour commanded just under $29 million this week, representing South Florida's highest residential transaction for the period ending May 14, 2026.
The property at 216 Bal Bay Drive changed ownership from a trust associated with Luis Arevalo to a trust managed by attorney Mark Meland. The 1950s-era home encompasses approximately 3,000 square feet with three bedrooms and three and a half bathrooms. The seller had acquired the property in 2015 for $7.5 million, realizing a substantial gain over the 11-year holding period.
Jill Hertzberg of Coldwell Banker's the Jills Zeder Group represented the seller, while Dina Goldentayer from Douglas Elliman brought the buyer to the transaction. The property had been listed at $29.9 million before closing at the lower figure.
Commercial activity dominated the week's largest deals, with the Biscayne Shores luxury apartment complex at 11295 Biscayne Boulevard selling for $151.4 million. An affiliate of Integra Investments transferred the property to RPM Living Investments, an Atlanta-based firm. The recently constructed complex, completed in 2024, features a 15-story building housing 288 apartments plus 92 townhouses distributed across three separate structures.
The Biscayne Shores property sits in an unincorporated section of Miami-Dade County, positioned between North Miami, Miami Shores, and Biscayne Park. While sources confirmed the $151.4 million transaction value, the recorded deed reflects $206 million, though the buyer has disputed this higher assessment.
Additional significant residential activity included a North Palm Beach transaction where Robert and Robin Martin sold their home at 11329 Turtle Beach Road to financier John Daly and his wife Norah for $13 million. The 6,200-square-foot property commanded more than $2,100 per square foot, featuring five bedrooms and four and a half bathrooms.
In Surfside, attorney Harold L. Lewis completed the sale of his residence at 1276 Biscaya Drive for $11.4 million. Brian Rebhun, a partner with PwC's asset and wealth management tax practice, acquired the property through a trust arrangement. The five-bedroom, six and a half-bathroom home spans 4,900 square feet, achieving a price exceeding $2,300 per square foot. Lewis had purchased the property in 2020 for $5.5 million, doubling his investment over the four-year period.
These transactions reflect continued strength in South Florida's luxury real estate market, with waterfront properties and newly developed commercial assets attracting significant investor interest across multiple price segments.
