L
uxury brand mogul Anand Khubani has expanded his Miami Beach portfolio with the $40 million purchase of a waterfront mansion on North Bay Road. The estate, designed by Kobi Karp and featuring interiors by Slim Keskes, spans 14,520 square feet with six bedrooms, two staff rooms, and various luxury amenities including a wellness center, movie theater, and wine room. Khubani acquired the property from billionaire Jamie Salter, founder of Authentic Brands Group, who had paid $19.3 million for the lot in 2021.

    This purchase follows Khubani's September acquisition of a 2.4-acre waterfront assemblage on La Gorce Island for approximately $100 million, one of the largest residential sales in South Florida last year. He plans to build a new home on the properties. The North Bay Road estate was sold furnished and includes a waterfront pool and a second-floor pool.

    The sale highlights the continued strength of Miami Beach's ultra-high-end market, with record deals closing despite slower sales velocity. Recent notable transactions on North Bay Road include David and Victoria Beckham's $72.3 million purchase of a waterfront spec mansion and Richard Saghian's $30 million acquisition of a waterfront home.