Home purchasing

Three for $93 million: Tech founder buys trio of homes in Golden Beach, Florida

Three oceanfront homes in Golden Beach, Fla., are selling for a combined price of about $93 million, according to agents involved in the deal. Considered a single transaction, the deal will set a price record for Golden Beach and for the entire Miami area, the agents said.

The buyer is Phillip Ragon, founder of technology company InterSystems, according to people familiar with the sale. Mr Ragon bought a separate property on Golden Beach last year for nearly $20 million, according to a person familiar with the sale. Mr. Ragon did not immediately respond to a request for comment.

Two of the deals have been completed, while a third is expected to close next week.

The three properties, located approximately 20 miles from downtown Miami, span a total of approximately 1.7 acres with approximately 275 feet of ocean frontage. The buyer plans to raze the three residences, which are relatively modest beach houses, and replace them with a new single-family home, according to agents Danny Hertzberg and Jon Mann of Coldwell Banker Realty’s Jills Zeder Group, who participated in the the sale but declined to comment on the identity of the buyer.

Only one of the homes was on the market at the time of the sale, and agents said the transaction was the result of a roughly year-long effort by the buyer to piece together a large property with significant frontage. on the ocean in Golden Beach, a small community sandwiched between the Intracoastal Waterway and the Atlantic Ocean. It involved negotiations with three separate sellers, some of whom were reluctant to part with their property, agents said.

Bruce Weber and Nan Bush in 2021.


Photo:

Alessandra Benedetti/Corbis/Getty Images

Sellers include fashion photographer Bruce Weber and his wife and collaborator, Nan Bush, who bought their home for $3 million in 2002, records show. Their home, a six-bedroom, roughly 4,800-square-foot beach house, was listed for sale in January for $25 million with Douglas Elliman’s Pablo Alfaro.,

according to Zillow, although Mr. Hertzberg and Mr. Mann said their negotiations with the sellers predated the listing. Mr. Weber and Ms. Bush did not respond to a request for comment.

The other sellers are listed on public records as Mitchell and Lori Grabois and Silverlane Rlty Inc. It was unclear exactly what the Grabois originally paid for their property, but the Silverlane property last sold for $3.636 million in 2003, records show. Neither Silverlane Rlty nor the Graboises could be immediately reached for comment.

The deal illustrates how far buyers will go to assemble substantial beachfront plots in the area, agents said.

“There are very few sellers, so finding two or three properties together was nearly impossible,” Mr. Hertzberg said. “We had different combinations that we were trying to figure out.”

Mr. Hertzberg and Mr. Mann worked on the deal with Eloy Carmenate and Mick Duchon of the Corcoran Group.

While Golden Beach homes have historically sold for less than those in Miami Beach and Palm Beach, the community has attracted high-profile residents like Tommy Hilfiger and Ricky Martin. This transaction “is definitely going to put Golden Beach on the map in a big way,” Mr. Hertzberg said.

The deal will likely be a boon for sellers of another top Golden Beach home. Last month, a large property that was long owned by late Craig Electronics founder Joel Newman and his wife, Edith Newman, went on the market for $100 million. So far, nothing at Golden Beach has sold for even close to that price, records show.

The previous record for Miami-Dade County was set last year by the purchase of a $75 million home on Star Island by hedge fund billionaire Ken Griffin, who already owned plots on Star Island. .

Write to Katherine Clarke at [email protected]

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