Spec developer Michael Klinger and his wife Michelle have sold their Golden Beach home for $27.1 million, setting a new record for bayfront property sales in the neighborhood.
The sale involved the property at 194 South Island Drive, which was purchased by a Delaware-based entity. A spokesperson confirmed the transaction, though the deed has not yet appeared in public records and the identity of the buyer remains undisclosed.
Dina Goldentayer of Douglas Elliman and Joel Lusky of The Brokerage South Florida Real Estate listed the home. Jonathan Mann from the Jills Zeder Group at Coldwell Banker Realty represented the buyer.
Michael Klinger is known as the founder of Saber Real Estate South, a development firm that has increased its presence in Golden Beach with several speculative projects. In November, he sold another renovated home at 220 South Island Drive for $13 million after acquiring it for $9.3 million one year earlier. Last year, Saber bought a quarter-acre waterfront lot at 476 North Parkway for $3.9 million with plans to build a 6,000-square-foot spec house. Another project under development is a planned 10,000-square-foot mansion at 56 Bal Bay, which is being marketed for $45 million by Goldentayer and Lusky.
The Klingers acquired the 0.3-acre site at 194 South Island Drive in 2021 for $6.3 million. They completed construction on a 7,600-square-foot residence last year featuring six bedrooms, six bathrooms, two half-bathrooms, a theater room, wellness amenities, staff quarters, a pool and dock.
The home was initially listed in April with an asking price of $35 million but saw price reductions to $30 million in June before going under contract in December.
Golden Beach stands out as one of Miami-Dade County’s few communities offering oceanfront single-family homes. The highest-priced sale recorded in Golden Beach occurred in 2022 when a property spanning 1.7 acres along the Atlantic Ocean sold for $45 million.
This latest transaction sets a new benchmark for non-oceanfront properties within Golden Beach. In October last year, Johnny Grobman—a convicted fraudster currently serving an eighteen-year sentence—sold his oceanfront home there for $16.6 million. Earlier this year, another area resident who owns a cosmetic surgery center sold his house for $22 million.
