Carlos Justo unloads Batchelor Estate on North Bay Road, but is it too late?
June 13th, Joan Fleischman chronicled the financial distress of Sol Sotheby’s Broker Carlos Justo.
Sources have said that the former home of George Batchelor was sold this week for around $12M. Terms were undisclosed except that it would be a quick closing.
The parcel consists of two properties: one consisting of a 9,476 home on a 43,988 sq. ft. lot (2940); and one empty lot with 52,360 sq. ft. of land (2920). Both properties combined enjoy over 340 linear foot of waterfront.
Here comes the interesting stuff. The combined list price for both parcels was $22.8M. Rumor has it; the properties are under contract for well below the $22.8M list price, around $12M.
The owner of the property is North Bay Properties Group, L.L.C. The address of the owner is 1548 Brickell Avenue (Sol Sotheby’s corporate office)
Carlos & Co. paid $13.6M for the properties in June 2006.
