Tech executive Jody Glidden recently purchased a newly built home in Biscayne Park for $4.8 million, continuing a trend of record-setting sales in the area. Glidden, who previously sold his Hibiscus Island property for $11.9 million, said he does not plan to live in the new house but intends to rent it out and is considering further investments in the neighborhood.
Glidden told The Real Deal that he is looking at additional properties in Biscayne Park with an eye toward redevelopment. The village, located between Miami Shores and North Miami, has seen increased interest from affluent buyers seeking proximity to private schools such as Miami Country Day School and Cushman School.
“Brand-new construction modern houses are breaking barriers in these alternative neighborhoods,” said Dora Puig, owner of Luxe Living Realty. She compared price growth in Biscayne Park to other Miami neighborhoods like Morningside and Belle Meade and noted that demand for private schools is a significant driver as parents seek to reduce time spent commuting.
The six-bedroom, five-and-a-half-bathroom home purchased by Glidden covers nearly 6,000 square feet on a half-acre lot, with a purchase price equating to $800 per square foot. “Areas like Biscayne Park still offer pretty good value. If you want to make a decent multiple on your property, it’s harder to do now in other parts of [Miami],” Glidden said.
The property was developed by a partnership including Aaron Butler of Avenue Real Estate and Kobi and Nancy Karp, who bought the lot for $1.4 million in 2022. Butler cited the area’s curb appeal, low crime rate, and access to Miami Country Day as key investment factors. “I would develop [in Biscayne Park] again. We’re looking,” Butler stated.
Following Glidden’s cash purchase—which created a comparable sale for appraisers—at least two other new homes have sold nearby at similar price points. One four-bedroom home at 967 Northeast 117th Street was sold by Pintos Residential affiliates Rodrigo Pintos and Roberto Lopez for $5.3 million after being purchased for $450,000 in 2021. Another newly built house at 740 Northeast 120th Street changed hands for $4.6 million; its lot had been acquired for $750,000 in 2022.
Miami Country Day School recently received approval to update its master plan, allowing more properties under its campus umbrella and increasing planned building heights from two stories to three stories according to Francisco Garcia of the Euclid Group. The expansion will add facilities such as a new dining center and green space while redesigning site plans to improve traffic flow and parking availability.
Garcia highlighted strong demand for educational facilities within Miami-Dade County’s private sector but clarified that enrollment numbers would remain unchanged despite new construction: “Without question there is exceeding demand for educational facilities in Miami-Dade County, particularly in the private school sector.” He also acknowledged ongoing concerns about local traffic: “[Biscayne Park] really is in a fortunate geographic location,” Garcia said. “Traffic is going to be an issue for us for the indefinite future.”
