Nancy Penn And Mark J. Penn Of Stagwell Acquire Miami Beach Mansion From Pinetree Holding Corp For $17.5M

A waterfront mansion at 5785 Pine Tree Drive in Miami Beach has been sold for $17.5 million. The property spans 10,955 square feet and occupies 0.32 acres, making it a significant asset in the area.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $17,500,000
• Square Footage: 10,955
• Price Per Square Foot: $1,597
• Buyer: Nancy Penn; Mark J. Penn - Stagwell
• Seller: Mohammad Elayyan - Pinetree Holding Corp
• Buyer's Representative: Andrew Katz & Josette Wys - Howard Chase Real Estate
• Seller's Representative: Albert Justo & Mirce Curkoski - One Sotheby's International Realty

This purchase was made by Mark J. Penn, CEO of Stagwell, and highlights the collaboration of notable representatives in the real estate industry, including Andrew Katz and Josette Wys representing the buyers, and Albert Justo and Mirce Curkoski representing the sellers.