Italkraft Acquires Waterfront Lot On South Venetian Way In Miami Beach For $11.5M

Italkraft, a luxury cabinetry maker, has purchased a waterfront vacant lot in Miami's San Marco Island for $11.5 million. Located at 1384 South Venetian Way, the 0.3-acre lot previously owned by developer Michael Stern and Layne Stern offers 104 feet of waterfront. The buyer, Alex Xakoustis, plans to build a new residence on the expanded waterfront lot.

Summary of transaction details

• Property Type: Single Family
• Transaction Amount: $11,500,000
• Date: 11/17/2023
• Address: 1384 South Venetian Way
• Market: Miami Beach

Alex Xakoustis, the president of Italkraft, made the purchase through the representation of Nelson Gonzalez from Berkshire Hathaway HomeServices. Gertrude Shafer was the seller in this deal. The transaction involved Nelson Gonzalez acting as the broker.