Beauty entrepreneur Frank Toskan has sold two neighboring waterfront homes in Miami Beach for a total of $31.9 million. Property records indicate that the buyer is 3339 Sunset LLC, a Florida company linked to the Eighteen Sunset building at 1759 Purdy Avenue in Miami Beach, where Ares Management recently established an office.
Annie De La Rosa from Douglas Elliman represented the listing.
Toskan, who co-founded Mac Cosmetics with Frank Angelo in 1984, is recognized for helping to transform the cosmetics industry and introducing vibrant color palettes. The brand was acquired by Estée Lauder during the 1990s.
According to property records, Toskan purchased both properties on Sunset Island III in 2021 for a combined $20.3 million. Together, they cover approximately 0.6 acres.
The sale includes a 6,700-square-foot home with three bedrooms and five bathrooms that sold for $14.3 million, and a 4,200-square-foot home with five bedrooms and five bathrooms that sold for $17.7 million. Both residences feature pools and docks.
The two homes were previously listed together for $36.6 million on Zillow.
This transaction follows other significant sales on Miami Beach’s Sunset Islands this season. Earlier this month, Barton G. Weiss sold his waterfront mansion for $29.3 million, while architect Chad Oppenheim’s property went under contract at an asking price of $27 million in November. In October, investor Edmond Harbour purchased an adjacent teardown for $34 million, bringing his total investment on the islands to $60.5 million.
South Florida’s high-end real estate market continues to see activity fueled largely by cash buyers. Sales of single-family homes priced above $30 million increased by 58 percent last year in Miami-Dade County; condo sales over $20 million rose by 37.5 percent during the same period—though these transactions represent only a small portion of overall market activity with just 19 single-family homes and 11 condos selling within those price ranges.
