Key Biscayne Real Properties LLC Acquires 398 Harbor Drive For $19.25M

A waterfront home in Key Biscayne spanning 1,806 square feet located at 398 Harbor Drive was recently sold for $19.25 million. This property, built in 1952, was acquired by Key Biscayne Real Properties LLC from the previous owners, George Baran and Gerald Slemko, who are executives of Trudell Medical Group and 398 Harbor Corp. The transaction indicates a significant increase from its last recorded sale price in 2018, which stood at $11 million. The new owners are expected to demolish the existing structure to make way for a larger residence.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $19,250,000
• Market: Key Biscayne
• Address: 398 Harbor Drive
• Asset Type: Single Family
• Acres: 0.48

The sale was facilitated by Carlos Coto of One Sotheby's International Realty, who represented the buyers in the transaction. The sellers, George Baran and Gerald Slemko, were part of Trudell Medical Group. The property was ultimately transferred to Key Biscayne Real Properties LLC, a Delaware-registered entity, indicating a strategic investment in the Key Biscayne real estate market.