Teddy Sagi Buys Waterfront Property In Miami Beach For $24M

The property at 4521 Pine Tree Drive in Miami Beach, spanning 1.4 acres, has been sold for $24 million. The single-family asset, measuring 8,500 square feet with a price per square foot of $2,824, was acquired by billionaire Teddy Sagi to construct his residence. The transaction was facilitated by Sheerelle Toledano of Douglas Elliman representing the buyer and Saddy Delgado of One Sotheby's International Realty representing the seller.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $24,000,000
• Address: 4521 Pine Tree Drive
• Market: Miami Beach
• Square Footage: 8,500
• Buyer: Teddy Sagi
• Buyer's Rep: Sheerelle Toledano - Douglas Elliman
• Seller's Rep: Saddy Delgado - One Sotheby's International Realty

Billionaire Teddy Sagi, with a net worth of $5.6 billion, is focusing on real estate investments in South Florida, including the recent purchase of the waterfront property in Miami Beach. Sagi has emphasized that he primarily sees himself as an investor in the region and not solely a decision-maker in individual property transactions.