Vivian Dimond is wasting no time cashing in.
The Miami real estate investor has put a huge oceanfront mansion in Palm Beach County, Florida back on the market for $79 million, just weeks after snapping it up in a hush deal.
Dimond, who bought the unfinished Manalapan property in late July through her firm, Bayshore Grove Capital, is poised to turn a quick profit, according to the Wall Street Journal.
It came in after the previous owner, Nigerian energy tycoon Onajite Okoloko, lost the property when he couldn’t keep up with loan payments.
The home was listed for $115 million in the past, but had trouble selling.
Dimond told the Journal she wants the home to sell quickly, so she came up with the price point.
“Some brokers gave us an estimate to rank it much higher, and I said no,” she said.
She did not say how much she paid for the property, which she bought through a property-related company, avoiding an outright transfer of title.
Court records show Okoloko’s company paid $12.4 million for the land in 2017.
His plans for the property hit a wall last year when lenders sued him, accusing him of defaulting on interest payments and failing to finish the house.
Now fully completed, the 20,000 square foot contemporary home sits on 1.5 acres with stunning views of both the Atlantic Ocean and the Coastal Waterway.
The mansion features six bedrooms, massive indoor and outdoor pools, and a private dock for boats and jet skis.
“People want modern, contemporary homes with high ceilings, lots of glass, direct ocean views,” said listing agent Chris Leavitt of Douglas Elliman who is handling the listing with colleague Toni Schrager of Brown Harris Stevens Miami. “There aren’t many of those available.”
Dimond, who is no stranger to complicated real estate deals, previously brokered the sale of the site of the tragic Surfside condo collapse in Miami.
“We specialize in distressed properties,” she said. “If it’s a problem child, he comes to us.”
Manalapan, an upscale town that has had a luxury real estate boom, is seeing big ticket sales.
Tech mogul Larry Ellison made headlines last year when he dropped a record $173 million on a property in the same area. Dimond’s latest breakout could be the next big deal in this bullish market.
#Real #estate #mogul #flip #Florida #mansion #million #weeks #buying
Image Source : nypost.com