July 11, 2016
One of South Florida’s youngest billionaires paid $20 million for a waterfront home on Miami Beach’s North Bay Road.
Russell Weiner, the founder of Rockstar Energy Drink, bought the seven-bedroom mansion at 2920 North Bay Road, a home built by developer Bart Reines in 2013. Jared and Michelle Goldberg are the sellers.
The 9,431-square-foot home, first listed for $29.5 million, was last on the market for $24.9 million, Douglas Elliman agent Brett Harristold The Real Deal. Harris represented Weiner. The property, listed with EWM’s David Hunt Solomon, includes landscaped gardens, covered patios, a rooftop terrace, swimming pool, three-car garage, wine cellar, a gym and more than 160 feet of water frontage.
Weiner, who has also dabbled in real estate, is worth about $3.6 billion and ranks 173rd on Forbes list of U.S. billionaires. At 46, he’s among the youngest billionaires in Florida. He founded Rockstar Energy Drink in 2002 and is currently the CEO.
In 2012, the Delray Beach-based billionaire flipped the property at 70 Palm Avenue in Miami Beach for $14.5 million after buying it out of foreclosure in 2010 for $6.75 million, records show.
The North Bay Road property is described by its architect, Kobi Karp, as tropical modern. “It has wooden columns with two story volumes in the living room and dining room, which expand the interior spaces of the home to the large bayside backyard with a large lap pool and pergolas. It was designed as a five-star resort,” Karp said via email.
Mark Meland, a partner at Meland Russin and Budwick, represented the Weiner in the deal.
The home is newly built, with significant bay frontage, and sits on a large 48,000-square-foot lot – qualities Weiner was looking for, Harris said.
The North Bay Road home is newly built, with significant bay frontage, and sits on a large 48,000-square-foot lot – qualities Weiner was looking for, Harris said.
“He’s been waiting for a good deal for five years,” Harris told TRD.
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