554 Lakeview Dr, Miami Beach and Jarett Fein (Zillow, KV National)
A title insurance company co-founder and his wife bought a waterfront home in Miami Beach, which real estate developer Barry Brodsky sold for $15.3 million.
Jarett and Elizabeth Fein bought the eight-bedroom home at 554 Lakeview Drive from Brodsky, which owns Brodson Construction, records show.
Jarett Fein co-founded Kensington Vanguard National Land Services, an independent national legal expenses insurance agency. According to its website, it focuses on residential and commercial real estate, as well as settlement, escrow, recording, and 1031 exchange services. Fein is co-CEO with Brian Cooper, who also co-founded the company. Kensington Vanguard lists offices in New York, Miami, Fort Lauderdale, Boca Raton and elsewhere in the US
Hillary Hertzberg of The Jills Zeder Group of Coldwell Banker represented the seller and Elyse Rosenberg of Coldwell Banker the buyer.
The two-story, 5,691-square-foot home has eight full baths and was built in 1939 on nearly 0.7 acres, according to Realtor.com.
The home, which has a facade along Surprise Lake and overlooks The Ritz-Carlton Residences Miami Beach, has been completely renovated in a classic Mediterranean style, according to Rosenberg.
Brodsky, who used the house as his residence, took inspiration from the Four Seasons at The Surf Club, a Surfside condo-hotel, when restoring the house, Rosenberg said.
Deeds show that a trust with Brodsky and Steven Habib as co-trustees bought the home in 2020 for $3.8 million and shortly thereafter transferred ownership to Brodsky for a nominal $100.
Brodsky builds custom homes and has previously restored and flipped other homes in Miami Beach. He and Habib sold a renovated Mediterranean-style waterfront home along Pine Tree Drive Circle in 2019 for $7.3 million.
In 2020, Brodsky’s Brodson Construction paid $5.3 million for a waterfront property on the Sunset Islands with plans to demolish the existing home and build a custom home.
South Florida’s housing market is booming, in part due to the influx of Northeasterners who are buying homes here and have shown a preference for waterfront real estate. According to analysis by The Real Deal, the number of home sales of $10 million or more from December 2020 to November 2021 surpassed the previous two years combined.
In another recent Miami Beach flip, New York-based life science hedge fund Perceptive Advisors managing director Ellen Hukkelhoven paid $9.9 million for a penthouse on Michael Stern’s Monad Terrace project, which was completed in 2020. A 30- percent price increase in six months.
Contact Lidia Dinkova
Comments are closed.