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Miami Real Estate Up In Flames: Miami Beach MANSION on fire!

July 17, 2009

P R O P E R T Y   S E A R C H

R E S T I V O – H E C H T M A N    T E A M

M1277467_101_49For Sale ! 



Firefighters have been battling a fire in Miami Beach since 8:30 this morning. Fire has literally engulfed this Miami Beach mansion, located on

4462 North Bay Road


… reducing it to rubble.    



Listed for SALE at $6,900,000.00 (a HUGE price drop from it’s $11,750,000.00 asking price of last summer) … the property will be worth land value now .  M1277467_301_13  Built in 1925, and in need of renovation/restoration, the property was literally a castle.  The waterfront mansion was a 10 bedroom 7.5 bath paradise, with dock ,  stunning water views, city views, indoor and outdoor pools, home theater, and a separate gym.

With the Miami Real Estate Market taking such a hit over the past couple of years, questions as to the cause of the fire loomed high this morning.  Story is being covered in depth by CNN, and by  Jim Berry  on CBS4.



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