The price of owning a home in the Village of Pinecrest
continues to skyrocket, with the latest big sale topping
$3.5 million.
“It is the largest residential sale by far
in Pinecrest to date,” said Peggy Brin,
the Arvida Realtor who brokered the sale. Brin said
she thought the previous record home sale within the
Village limits was in the $2 million range.
Ron Shuffield, President of Esslinger-Wooten-Maxwell
Realtors said the sale price for the property was
not surprising.
“It’s going to be very difficult in the
future to buy a newly-constructed house in Pinecrest
for less than $230 to $250 a square foot,” said
Shuffield, noting that one-acre vacant lots are routinely
selling in the $400,000-plus range.
The sellers of the 11,000-square-foot house on five
acres at 11855 SW 60 Ave. were Kenneth and Mindy Karl,
who have lived in the sprawling six-bedroom, seven-and-a-half
bathroom home for the past 10 years. Mr. Karl is a
developer and reportedly made his fortune in shopping
center development.
The buyer of record is Coconut Grove attorney Neal
Litman, 2900 SW 29th Terr., though the actual owner
of the property is said to be one of Miami-Dade’s
power brokers. Agent for the buyer is Coldwell-Banker’s
Residential Real Estate Inc., top producer Josie Wang.
Litman declined to confirm the identity of the party
he represented in the purchase of the house.
“I purchased the property as trustee,”
said Litman. “My client is certainly entitled
to his anonymity and I’m not authorized to reveal
his or her identity.”
The California contemporary styled luxury house has
surrounding porches and verandas, leaded glass ceiling
to floor picture windows, a wood shake roof, extensive
stone and wood accents on the exterior and a separate
racquetball building with a loft that may be used
as a guesthouse. It also has a six car garage, though
two of the spaces have been converted into a children’s
play room.
“This is a home, not just a house,” said
Brin, one of Arvida’s top producers and a member
of the company’s prestigious Chairman’s
Circle. “It is a cozy home in spite of its size
and there are very large French doors off of one room
that offer a wonderful view. It has a very relaxed
atmosphere and it is designed for someone who loves
the outdoors.”
On the grounds, there is lush tropical landscaping,
a professional tennis court and a huge free form swimming
pool with rock coping and a waterfall.
“This was a very unique piece of property”
said Brin. “Many celebrities and sports figures
looked at it and liked it for its size and privacy,
as well as for the house. It’s a country club
lifestyle within a single family home.”
