{"id":25430,"date":"2009-09-17T18:09:17","date_gmt":"2009-09-17T18:09:17","guid":{"rendered":"http:\/\/miamibeachrealestatenewsblog.com\/2009\/09\/17\/high-end-making-a-comeback-at-a-price\/"},"modified":"2019-04-23T20:55:40","modified_gmt":"2019-04-23T20:55:40","slug":"high-end-making-a-comeback-at-a-price","status":"publish","type":"post","link":"https:\/\/ewmrealestate.com\/blog\/high-end-making-a-comeback-at-a-price\/","title":{"rendered":"High End Making A Comeback-At A Price!"},"content":{"rendered":"
\"2940

2940 and 2920 North Bay Road <\/p><\/div>\n

The properties located at 2940 and 2920 North Bay Road occupy more than 96,000SF of prime waterfront land in Miami Beach<\/a>; one with a dilapidated Mediterranean-style home and the other, an adjoining vacant lot. Most recently sold as one piece in 2006, the property traded for $13M. Since then, the lots were subdivided, creating two folios, which one may assume could yield a great return but, was purchased going into a bad market. Listed for $6.9M, 2940 North Bay Road closed today for $4.038M\/$426SF…WOW<\/a>!<\/p>\n

And the lucky winner is? A local developer, who confided to me that this will be the last house in which he resides, it’s a keeper. He plans to renovate the 9,476SF manse. I’m all for preservation and old world style, but many buyers make the mistake of trying to save a home because they think they will spend less $$$ <\/strong><\/span>by using the existing structure. While under construction, at a point too far along to turn back, homeowners often realize that the renovation is costing them much more than starting from scratch. Not that he asked, but I\u00a0believe that\u00a0this house\u00a0is a tear\u00a0down. It’s in very bad condition with low ceilings and an odd floor plan. Either way, he did buy a great property at a good price and will do well in the future with this investment.<\/p>\n

The adjacent 52,360SF of land, that’s 170FT of water frontage ladies and gentleman,\u00a0 is ripe for the picking. Listed at $7.9M, who’s ready to make a STEAL<\/span>?! Who wouldn’t want to be Miami Vice producer, Michael Bay’s neighbor. Formerly Hulk Hogan’s residence, Bay picked it up 2900 North Bay Road for $17M.<\/p>\n","protected":false},"excerpt":{"rendered":"

The properties located at 2940 and 2920 North Bay Road occupy more than 96,000SF of prime waterfront land in Miami Beach; one with a dilapidated Mediterranean-style home and the other, an adjoining vacant lot. Most recently sold as one piece in 2006, the property traded for $13M. Since then, the lots were subdivided, creating two<\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":130092,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[11767],"tags":[],"yoast_head":"\nHigh End Making A Comeback-At A Price! - BHHS EWM Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ewmrealestate.com\/blog\/high-end-making-a-comeback-at-a-price\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"High End Making A Comeback-At A Price! - BHHS EWM Realty\" \/>\n<meta property=\"og:description\" content=\"The properties located at 2940 and 2920 North Bay Road occupy more than 96,000SF of prime waterfront land in Miami Beach; one with a dilapidated Mediterranean-style home and the other, an adjoining vacant lot. Most recently sold as one piece in 2006, the property traded for $13M. 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