Steve Patterson of the Related Group has sold his Miami Beach beach house for $14.8 million.
Records show Patterson and his wife, Carly Patterson, sold the home at 2901 Flamingo Drive to the Delaware entity Flaminglet LLC. The actual buyer is unknown.
Jeri Jenkins of Coldwell Banker Realty represented the buyer and seller in the transaction.
Patterson is president and chief executive officer of Related Development, the multifamily and mixed-use division of the Related Group, according to the company’s website. Patterson has led the division since its inception in 2010 and has overseen the construction of 5,500 rental units.
The Pattersons bought the half-acre Flamingo Drive home in 2016 for $6.2 million, property records show. The 6,400-square-foot six-bedroom home includes five and one-half bathrooms, according to records. Built in 2015, the listing also includes a one-bedroom, one-bathroom guest house, a pool, dock and 300 feet of waterfront.
The house first listed in September for $16.9 million, according to Redfin. The listing price dropped to $15.5 million in January. Price cuts reflect buyer favor in South Florida’s luxury market, discounts are becoming more common. It’s not that prices are dropping –– record sales Closings continue, including Miami’s waterfront Bay Point mansion, which sells for $38.5 million In February.
While the Pattersons will be separate from the Miami Beach house, the couple will still have roots in the area.Last April, they purchased a 2,800-square-foot unit at the Continuum at 100 South Pointe Drive in South Beach $10 million.
In 2021, another real estate mogul sold a Miami Beach home.Jessica Goldman Srebnick and her husband Scott Srebnick sell their gores island house And bought a beachfront mansion in Miami’s Bay Point.