Beach front Golden Beach 50's house sells for $4.8M

11:14 AM

Golden Beach, Fl. Our real estate website is reporting this morning the closing on 587 Ocean Blvd., Golden Beach, Fl. 33160. The "Archer House", a 50's original house on the beach closed for $ 4,8M.
The property got notoriety in the past for a having the largest property tax lien ever placed by Miami Dade County.
"It is a great comp in a house sold at land value"  commented local agent Fernando Pettineroli. "demolishing this home and building a $2M home in top of it, clearly will bring about $10M within a couple of years according to the current comps" estimated Pettineroli.
The lot has 50 ft. wide of beach front by 273 ft. deep with 13,600 sq.ft.
No other information was yet disclosed on the transaction.
For more information about all available homes at Golden Beach, Florida, click here.

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