Investor Edmond Harbour dropped $34 million to buy his Sunset Islands neighbor’s teardown, bringing his total spent on two adjacent lots to $60.5 million.
His Abode18 LLC, a Florida entity, bought the house at 1821 West 27th Street in Miami Beach from Dr. Mark Jaffe and Patricia Jaffe, sources confirmed. John Sandberg with Compass had the listing, and Julian Johnston with the Corcoran Group brought the buyer. Johnston declined to comment on the buyer’s plans for the property.
Johnston also represented Harbour in his $26.5 million purchase of the adjacent home at 1835 West 27th Street last year. Records tie Harbour to Adobe18 LLC, as well as Adobe21 LLC and Metier Capital. Through Adobe21, he bought another waterfront Sunset Islands home at 2121 Lake Avenue for $14.1 million in 2022, according to property records.
The Jaffes bought the house at 1821 West 27th Street on Sunset Island II for $1.2 million in 1989, records show. The 6,900-square-foot home was built in 1940 on 0.6 acres, and includes seven bedrooms, seven bathrooms and 150 feet of waterfront, according to records and the listing. It was marketed as a teardown.
It hit the market for $37.5 million in September and went pending the next day, according to Zillow.
Buying out neighboring properties has become a frequent practice in South Florida’s wealthy enclaves in recent years, with buyers putting emphasis on large, private estates with condo-style amenities. In September, billionaire Patrick Dovigi dropped $15 million on an adjacent property to the waterfront Sunset Islands mansion he bought for $27.5 million.
Harbour’s purchase marks the latest Sunset Islands deal. Earlier this month, Alden Global Capital sold a waterfront home for $25.4 million, after buying the property for $9.5 million in 2021. Disgraced broker Oren Alexander, who is in jail awaiting trial for federal sex trafficking and assault charges, sold his waterfront Sunset Islands mansion for $51.5 million in June.
