The property asset involved in this transaction is a 14,520-square-foot single-family home located at 5970 North Bay Road in Miami Beach. The estate spans 0.7 acres and was sold for $40 million, translating to a price per square foot of $2,755.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $40,000,000
• Address: 5970 North Bay Road
• Market: Miami Beach
• Square Footage: 14,520
• Price Per Square Foot: $2,755
• Buyer: Anand Khubani - Ideavillage Products Corp
• Seller: Jamie Salter - Authentic Brands Group
• Buyer's Representative: Evan Weiss - 305 Degrees Realty
• Seller's Representative: Cyril Matz - Douglas Elliman

The transaction features brand magnate Anand Khubani acquiring the waterfront mansion from billionaire Jamie Salter, founder and CEO of Authentic Brands Group, in an off-market deal. The estate includes luxury amenities such as a spa, two pools, and a theater, with Todd Glaser as the developer, Kobi Karp overseeing the design, and Slim Keskes managing the interiors.