The Real Deal

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July 9, 2019

Waterfront Bal Harbour home trades for $24M, setting new record

Invenergy CEO Michael Polsky sold a newly built mansion in Bal Harbour to a French buyer for $24 million, creating a new record sale price for single-family homes in the […]

Invenergy CEO Michael Polsky sold a newly built mansion in Bal Harbour to a French buyer for $24 million, creating a new record sale price for single-family homes in the village.

Polsky’s 9425 Miami Real Estate LLC sold the 11,700-square-foot, eight-bedroom house at 224 Bal Bay Drive, property records show. The buyer is US PLO 224 LLC, a Delaware limited liability company. The buyer’s LLC lists a downtown Miami address tied to two French companies, Maison Menean, an organic beverage company, and S2H Communication, a Paris-based communications and public relations firm.

Polsky leads Invenergy, a Chicago-based power and energy company in North America and Europe.

Property records show Polsky’s company paid $7.5 million for the 20,100-square-foot lot in 2013.

While it is the most-expensive single-family home sale in Bal Harbour, some condo units in the high-end town, on the beachfront, have sold for more. In 2017, Chris Michael Carlos, the CEO of Atlanta-based Republic National Distributing Company, paid $25 million for a penthouse at Oceana Bal Harbour, a 28-story, 240-unit luxury condo tower at 10201 Collins Avenue.

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