F
rancisco Perez, a Fort Lauderdale-based spec developer, sold his newly rebuilt waterfront mansion on Miami Beach's prestigious North Bay Road for $23.3 million after three price cuts this year. The property was listed by Danny Hertzberg of the Jills Zeder Group at Coldwell Banker Realty and sold to North Bay Road Land Trust. Jill Hertzberg, Hertzberg's mother and business partner, represented the buyer but declined to disclose their identity.

    Perez acquired the 1950-built mansion from attorney Stephen Zack for $13.6 million in 2021 and invested heavily in its renovation, which was completed last year. The 8,500-square-foot estate features six bedrooms, eight bathrooms, a pool, and a dock. Initially listed at $31.5 million in January, the price was reduced twice before the sale.

    North Bay Road is one of Miami Beach's most sought-after addresses, with recent high-profile sales including billionaire Barry Diller's record-breaking $45 million purchase of a waterfront lot in April. Other notable transactions on the street include a $21 million off-market deal by local dentist Howard Davis and Chris Burch's ongoing attempt to sell his $49 million estate for nearly a year.