Banned Adviser Sells $19.9M Miami Waterfront Estate
Chuck Roberts, recently barred by financial regulators, found a buyer for his Miami waterfront home asking $19.9 million. The sale is part of 22 luxury contracts totaling $248 million in Miami-Dade County.
Chuck Roberts, a former financial adviser banned by regulatory authorities last year, has secured a buyer for his waterfront Miami estate priced at $19.9 million. The Buttonwood Lane property represents one of 22 luxury home contracts signed in Miami-Dade County during the week of May 4-11.
Roberts, formerly a managing director at Stifel Financial Corporation, purchased the six-bedroom, six-and-a-half-bathroom home for $16 million in 2024. The 7,237-square-foot residence sits on nearly half an acre and is listed with Douglas Elliman's Dina Goldentayer.
The Financial Industry Regulatory Authority barred Roberts following multiple customer disputes alleging breaches of fiduciary duty and negligence. Stifel Financial settled three investor claims from Roberts' former clients for more than $3 million, with the firm facing nearly $180 million in total damages, legal fees and settlements tied to Roberts' activities.
Meanwhile, a Canadian investor has contracted to sell their Icon South Beach penthouse for $28.9 million, marking the week's highest-priced deal. The seven-bedroom, nine-bathroom unit spans over 9,000 square feet at 450 Alton Road in Miami Beach. Roland Ortiz and Eddy Martinez of One Sotheby's International Realty represent the seller.
The luxury market activity reflects continued demand in Miami-Dade's premium segment. Single-family homes under contract averaged $9.5 million in asking prices and spent 156 days on market, totaling $123.6 million in volume. Condominiums commanded higher average prices at $13.8 million but required longer marketing periods of 294 days on average.
The week's contracts encompass 13 single-family homes and nine condominiums, generating a combined asking dollar volume of $248 million. This represents an increase from the previous week's 18 contracts totaling $146.3 million.
Miami-Dade's luxury inventory expanded with 34 new listings entering the market, bringing the total to 1,231 properties priced at $4 million and above. These properties averaged 212 days on market across all property types.
Condominium sales averaged $3,550 per square foot, reflecting the premium pricing in Miami's luxury market. The data comes from Douglas Elliman's Eklund-Gomes team, led by Fredrik Eklund and John Gomes, which tracks Multiple Listing Service properties in the county's high-end segment.
