Developer Alex Karakhanian offered the house he constructed for his household in Miami’s Bay Level for $9.5 million, marking the second costliest non-waterfront sale within the neighborhood.
Karakhanian, proprietor of Lndmrk Growth, offered the five-bedroom, four-and-a-half-bathroom home at 661 Melaleuca Lane to Natalia Temkin, property information present. Temkin is married to Roman Temkin, proprietor of the Verzasca Group, and he or she is a supervisor on the improvement agency, in response to LinkedIn.
The 5,300-square-foot residence hit the market in October for $10.2 million. Jonathan Garcia with One Sotheby’s Worldwide Realty was the itemizing agent. Tim Lobanov, managing director at Verzasca and a licensed dealer with Verzasca Worldwide Realty, represented the customer.
The fashionable residence, accomplished between 2018 and 2019, features a 1,000-square-foot major suite on the second ground with an workplace, twin walk-in closets and a marble lavatory, in response to the itemizing. The 0.3-acre property additionally has a salt water pool.
Karakhanian, who companions with builders that embrace the Associated Group and Property Markets Group in Wynwood, the MiMo District, Edgewater, Coral Gables and elsewhere, and his spouse Rena paid $1.6 million for the Bay Level lot in 2014. He didn’t reply to a request for remark.
“Despite the fact that there are quite a lot of dry houses sitting there [on the market], this sale exhibits while you worth one thing correctly it sells,” stated Garcia, the itemizing agent, relating to the newest sale of the brand new residence.
Verzasca, beforehand based mostly in Bay Harbor Islands, accomplished Aurora, a rental tower in Sunny Isles Seaside, final 12 months. The corporate, which now not seems to have energetic initiatives, was beforehand led by President and former NHL participant Darius Kasparaitis. It has developed initiatives in Russia and Europe.
Karakhanian is staying within the neighborhood. He’s constructing a waterfront residence in Bay Level, “some of the safe neighborhoods in Miami,” Garcia stated.
Bay Level, simply northeast of the Miami Design District, has benefitted from the increase in pricing lately. Joe Jonas and Sophie Turner offered their waterfront residence in Bay Level in August for $15 million, a month earlier than they introduced they deliberate to divorce. Turner and Jonas paid $11 million for the mansion in 2021; they offered it for a 36 p.c achieve.
Final 12 months, the CEO of Adonel Concrete offered his waterfront mansion at 4505 Sabal Palm Street for $38.5 million, marking a brand new file for Bay Level. That was greater than double the earlier file of the $18 million sale of the waterfront residence at 580 Sabal Palm Street.
