This transaction involves a single-family waterfront estate located at 4521 Pine Tree Drive in Miami Beach. The property sold for $23,800,000 and has a total square footage of 8,500, resulting in a price per square foot of $2,800.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $23,800,000
• Address: 4521 Pine Tree Drive
• Market: Miami Beach
• Square Footage: 8,500
• Price Per Square Foot: $2,800
• Buyer: Teddy Sagi
• Buyer’s Representatives: Nelson Gonzalez - Berkshire Hathaway HomeServices EWM Realty; Sheerelle Toledano - Douglas Elliman
• Seller’s Representatives: Chava Feigen & Saddy Abaunza Delgado - One Sotheby's International Realty

The buyer, Israeli billionaire Teddy Sagi, plans to demolish the existing mansion and construct a new 20,000-square-foot home on the property. This transaction is significant as it illustrates the increasing demand for larger real estate assets in the luxury market of Miami Beach.