arts
“So much wealth”: Why the rush for waterfront homes rolls on in South Florida
By Katherine Kallergis at The Real Deal
· June 5, 2026
· 1 min read
Developer Keith Menin paid $16.1 million for a waterfront home on North Bay Road in April 2024, and he teamed up with the billionaire founder of Rockstar Energy to renovate and flip the property. Two years later, Menin and Russell Savage (previously Weiner) sold the home at 5300 North Bay Road for $
Key takeaway 1 million for a waterfront home on North Bay Road in April 2024, and he teamed up with the billionaire founder of Rockstar Energy to renovate and flip the property.
Why this matters in The Miami
The luxury waterfront home market in Miami continues to attract high-end buyers and investors, with some properties selling for tens of millions of dollars. This trend is particularly notable in neighborhoods like Miami Beach, where properties like the one on North Bay Road are highly prized for their ocean views and proximity to the city's vibrant cultural scene. The fact that a land trust was the ultimate buyer of this property suggests that there are still many investors who see waterfront homes in Miami as a solid investment opportunity, despite the risks posed by sea-level rise and flooding. As the city's population grows and its reputation as a hub for Latin American and Caribbean culture continues to spread, it's likely that demand for these properties will remain strong, driving up prices and fueling further development in areas like Wynwood and Brickell.
About this story
Original reporting by The Real Deal . The Miami surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
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Category: arts ·
Published: June 5, 2026 ·
Source: The Real Deal ·
Reading time: 1 min
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Frequently asked about this story
What is this story about? Developer Keith Menin paid $16.1 million for a waterfront home on North Bay Road in April 2024, and he teamed up with the billionaire founder of Rockstar Energy to renovate and flip the property. Two years later, Menin and Russell Savage (previously Weiner) sold the home at 5300 North Bay Road for $
When was this published? This article was first published on June 5, 2026 by The Real Deal and curated for The Miami readers.
Who reported this story? This story was reported by Katherine Kallergis at The Real Deal. To learn more about how The Miami selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more arts coverage from The Miami, or browse our daily briefing and topic hubs .
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