A new construction, contemporary home at 531 NE 52nd St. in Morningside was recently sold by Limestone Asset Management for $5.5 million. The sale achieved the highest price per square foot for a non-waterfront home in the Morningside community.
The seller and developer of the home, Limestone Asset Management, were represented by Brandon Brugal and Uccio Zecchini of Miami’s BZG International, a full-service real estate brokerage firm. Anna Gold represented the buyer from the De Leon Group at Compass. This development project is a joint venture between Limestone Asset Management and Tetra Group, an experienced real estate investment firm in Miami.
Located off Biscayne Blouebvard, this two-story home spans over 4,480 square feet and includes six bedrooms, five bathrooms, a beautiful outdoor pool and a one-car garage. The property sits on an 8,363-square-foot lot, steps away from the 42-acre, historically preserved Morningside Park on Biscayne Bay.
The residence, designed by top Miami architecture firm Preschel + Bassan Studio, epitomizes modern elegance with various features. These include top-of-the-line fixtures and finishes such as porcelain stone-walled bathrooms, large format porcelain tiles, custom Italian doors, white oak wood floors and wood tongue and groove ceilings. Other notable features include a nine-foot wooden pivot front door, an open floor plan with a 22-foot living room ceiling that allows natural light to pour in, and an oversized custom Italian kitchen offering a surplus of cabinet and storage space. The kitchen also boasts Wolf gas appliances, a Sub-Zero refrigerator, a chef hood, a double kitchen sink, a wine cooler, and a built-in dining bench for eight.
“We are thrilled to have sold this stunning, contemporary single-family home that we designed and built from scratch for a record-breaking price in the historic, upscale Morningside neighborhood,” Ibrahim Al-Rashid says, chairman of Limestone Asset Management. “It is the highest sale ever for a non-waterfront home in Morningside, and we know the buyer will be very happy with their new home in the highly sought-after community.”
Limestone Asset Management is a real estate investment firm that acquires and invests in properties across all asset classes throughout North America. In 2022, the company expanded its operations to include a residential development division. The contemporary home, located at 531 NE 52nd St. in Miami, is one of the first two spec homes developed by Limestone Asset Management. The other spec home is located at 510 NE 52nd St. in Miami.
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Photo Credit: Inflight