Spec developer Michael Klinger and his wife Michelle Klinger have sold their home in Golden Beach for $27.1 million, setting a new record for bayfront properties in the neighborhood. The buyer was identified as a Delaware entity, though the actual purchaser has not been disclosed and the deed has yet to be recorded publicly.
The property, located at 194 South Island Drive, was listed by Dina Goldentayer of Douglas Elliman and Joel Lusky of Brokerage South Florida Real Estate. Jonathan Mann with the Jills Zeder Group at Coldwell Banker Realty represented the buyer.
Michael Klinger is known as the founder of Saber Real Estate South, which has recently increased its portfolio of speculative homes in Golden Beach. In November, Klinger sold another renovated property at 220 South Island Drive for $13 million after acquiring it for $9.3 million one year earlier.
In addition to this sale, Saber purchased a quarter-acre waterfront site at 476 North Parkway last year for $3.9 million with plans to build a 6,000-square-foot spec home. Another project in progress is a planned 10,000-square-foot mansion at 56 Bal Bay, currently listed for $45 million with Goldentayer and Lusky.
The Klingers bought the 0.3-acre lot on South Island Drive for $6.3 million in 2021 and completed construction on the 7,600-square-foot house last year. The residence features six bedrooms, six bathrooms, two half-bathrooms, a theater room, wellness facilities, staff quarters, a pool and a dock.
Initially listed for $35 million in April, the asking price dropped to $30 million in June before going under contract in December.
Golden Beach is known as an exclusive Miami-Dade community featuring oceanfront single-family homes. The highest-priced home sale recorded in the area reached $45 million in 2022 on a 1.7-acre property along the Atlantic Ocean.
Klinger’s recent transaction sets a record price for non-oceanfront properties within Golden Beach. Other notable sales include Johnny Grobman’s oceanfront home sold for $16.6 million while he was serving an 18-year prison sentence and a local cosmetic surgery center owner’s house that sold for $22 million earlier this year.
