Seller flips waterfront Venetian Islands home in four months for $24M

Posted :
March 11, 2021
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As reported in The Real Deal.

A trust linked to a biotech entrepreneur paid $23.5 million for a waterfront Venetian Islands home, which the seller flipped after four months.

Jonathan M. and Michael J. Rothberg, as trustees of the Jonathan M. Rothberg 2003 Revocable Trust, bought the house at 10 West San Marino Drive in Miami Beach from Beechgreen LLC, led by Jeffrey S. Feinman, according to records.

Jonathan Rothberg founded such technology companies as Ion Torrent and RainDance Technologies, according to his Linkedin. He was awarded the National Medal of Technology and Innovation by President Obama in 2015.

The seller, Feinman, is a partner at New York-based accounting firm DDK & Co. Property records show Feinman purchased the newly built house in November for $20.4 million.

The house was completed last year as a spec home.

At the time, the sale broke a Miami Beach single-family record for price per square foot, at $3,100, besting a $15.6 million sale also on the Venetian Islands. This time, the home sold for just over $3,500 per square foot.

Feinman listed the house in January for $23.5 million, according to Realtor.com. 

The 6,626-square-foot house, with six bedrooms and six-and-a-half bathrooms, sits on a 12,772-square-foot lot.

Ramin Designs built the home, while Dunagan Design Group designed it and Artefacto furnished it.

Venetian Islands sales have been plentiful so far this year, as a senior managing director of Invesco sold his waterfront home for $11.8 million, and a co-founder of a financial services firm bought a teardown for $9.6 million.