Limestone Asset Management Sold Home in Miami’s Morningside for Record-Breaking $5.5 Million
Miami-based Limestone Asset Management closed on/sold its new construction, contemporary home located at 531 NE 52nd St., Miami, FL 33137 in Morningside, a beautiful, historic and guard gated residential community in Miami, on Sept. 7, 2023. The home sold for $5.5 million, which is the highest price per square foot for a non-waterfront home in Morningside.
Brandon Brugal and Uccio Zecchini of Miami’s BZG International, a full-service real estate brokerage firm, represented the seller and developer of the home, Limestone Asset Management. Anna Gold from the De Leon Group at Compass represented the buyer.
This development project is a partnership between Limestone Asset Management and Tetra Group, an experienced real estate investment firm in Miami. Brugal and Zecchini are also a part of Tetra Group.
Tucked off Biscayne Blvd., the 4,480-square-foot, two-story home was completed in July 2023 and features six bedrooms, five bathrooms, outdoor pool and one-car garage. Situated on an 8,363-square-foot lot, it is only steps away from the 42-acre, historically preserved Morningside Park on Biscayne Bay.
Designed by top Miami architecture firm Preschel + Bassan Studio, the residence epitomizes modern elegance with features including:
Top-of-the-line fixtures and finishes including porcelain stone walled bathrooms, large format porcelain tiles, custom Italian doors, white oak wood floors and wood tongue and groove ceilings
9-foot wooden pivot front door
Open floor plan and 22-foot living room ceiling allowing natural light to pour in
Oversized custom Italian kitchen offering a surplus of cabinet and storage space, Wolf gas appliances, Sub-Zero refrigerator, chef hood, double kitchen sink, wine cooler, and built-in dining bench for eight
Sliding hurricane-resistant impact windows
Expansive principal bedroom suite including walk-in closet and a terrace overlooking the pool and backyard
Full cabana bath with access to the pool
Three A/C units
Indoor wooden floating stairs
Indoor and outdoor prewired sound system
20 x 12 pool with Aqualink Wi-Fi control with up to ten variations of lighting
Outside built-in grill
Native buttonwood and Florida thatch palms in the backyard and oak trees in the front yard
Shellstone paver driveway
Roof designed solar ready for one to install solar panels
"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,” said Ibrahim Al-Rashid, 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.”
“This was the only new construction home for sale in Morningside. Native Construction did a great job in delivering the home, and we are thrilled to have sold it for a record price,” said Zecchini.
Limestone Asset Management invests in and acquires real estate properties across all asset classes throughout North America. In 2022, it expanded to add a residential development division. The home at 531 NE 52nd St., Miami, FL 33137 is one of Limestone’s first two spec homes. The other spec home is located at 510 NE 52nd St., Miami, FL 33137.
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