A waterfront mansion on North Bay Road has been sold for a record-breaking price of $22,900,000. The seller, Paul Morelli, a jewelry designer, has successfully closed the transaction. The property features seven bedrooms, eight bathrooms, a pool, spa, and outdoor kitchen. Situated on a 0.6-acre lot, this single-family residence offers luxury and comfort. The sale marks a significant milestone for the neighborhood of Miami Beach, which has experienced a surge in luxury home sales in recent years.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $22,900,000
• Address: 2700 North Bay Road, Miami Beach
• Market: Miami Beach
• Asset Type: Single Family
• Acres: 0.6

Representing the buyer, 2700 What's Next Land Trust has acquired this prestigious property. The buyer, reportedly a foreign investor, intends to use the mansion as a vacation home. Marko Gojanovic from ONE Sotheby's International Realty served as the buyer's representative, ensuring a smooth and successful transaction. On the seller's side, Julian Johnston from Corcoran represented Paul Morelli, orchestrating the negotiation process. With a strong interest in luxury properties, both buyers and sellers have found their match in this remarkable deal.