The property involved in this transaction is a single-family waterfront estate located at 5940 North Bay Road in Miami Beach. The estate spans 2.3 acres and has a total square footage of 19,000. The sale price for this property is set at $105,000,000, which translates to a price per square foot of $5,526.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $105,000,000
• Address: 5940 North Bay Road
• Market: Miami Beach
• Acres: 2.3
• Square Footage: 19,000
• Price Per Square Foot: $5,526
• Buyer: Todd Michael Glaser
• Seller: Suzanne Kahn; Sonny Kahn - Crescent Heights
• Broker: Nelson Gonzalez - Berkshire Hathaway HomeServices

Todd Michael Glaser, a spec home developer, is entering this contract with plans to either flip the estate for an expected price between $150,000,000 and $175,000,000, or redevelop it into a spec mansion potentially listing for $250,000,000. The sellers, Sonny Kahn and his wife Suzanne, are co-founders of Crescent Heights.