Related Group’s Steve Patterson Purchases Miami Seashore Teardown

Related Group’s Steve Patterson Purchases Miami Seashore Teardown

Steve Patterson, president and CEO of a Relevant Team division, acquired a waterfront Miami Beach teardown for $9.4 million.

Data clearly show Patterson acquired the assets at 5141 Pine Tree Generate from Christian Egidio Lamont. 

Darin Tansey of Douglas Elliman had the listing, and Jeri Jenkins of Coldwell Banker Realty introduced the purchaser.

Patterson is Miami-based mostly Relevant Group’s president and CEO of Related Advancement, the firm’s multifamily and blended-use division, in accordance to its website. In 2021, he bought a pair of mixed rental units at the Continuum for $8.4 million. 

Lamont inherited the Pine Tree Push house from his late mom, Abilia Glass. Glass was a “sensation” performing in Miami Beach’s 1960s nightclubs below her stage identify, Abi Rios, according to her obituary. Glass opened for Harry Belafonte and Sammy Davis Jr. in her heyday, and was reportedly described as “too very hot to tackle,” by Frank Sinatra, her obituary said. After retiring from the stage, she married Marvin Glass, the creator of Mr. Potato Head, Tornado, and Etch-a-Sketch. She died in 2013.

Data do not display the day or selling price for which Glass bought the half-acre Pine Tree Generate assets. The deed was transferred to Lamont in 2015, in accordance to property data. The 6,250-square-foot key home was crafted in 1929. It includes five bedrooms and six loos. The residence also includes a pool, a dock and a two-bedroom guest property, according to the listing. The estate, which spans 70 toes of waterfront together the Intracoastal Waterway, was promoted as a teardown.

Lamont outlined it for $15 million very last 12 months, Real estate exhibits. The asking value was dropped twice in advance of landing at $10.3 million in December.

The sale is the hottest waterfront land offer in Miami Beach front, the place two billionaires are in agreement to get homes. Earlier this week The Real Deal claimed that billionaire media mogul Barry Diller will acquire the 1.5-acre waterfront good deal at 5930 North Bay Road for $45 million, and billionaire serious estate trader Teddy Sagi plans to invest in the waterfront teardown at 4521 Pine Tree Generate for $24 million.

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