Tech CEO Jody Glidden recently purchased a $4.8 million home in Biscayne Park, a small municipality nestled between Miami Shores and North Miami.
Glidden, who is in a relationship with “The Real Housewives of Miami” star Lisa Hochstein, acquired the modern, tropical-style residence after selling his waterfront Hibiscus Island property for $11.9 million last year. However, Glidden does not intend to move into the new home. Instead, he plans to rent it out and is actively searching for additional properties in Biscayne Park to purchase and redevelop, he told The Real Deal.
His acquisition in Biscayne Park is among several recent transactions that have set new records for the village. Affluent buyers are increasingly drawn to the area, in large part due to its proximity to private schools such as Miami Country Day School—which recently received approval for a campus renovation and modernization—and the Cushman School.
“Brand-new construction modern houses are breaking barriers in these alternative neighborhoods,” said luxury broker Dora Puig, owner of Luxe Living Realty. Puig compared the price appreciation in Biscayne Park to that seen in neighborhoods like Morningside and Belle Meade. She noted that high demand for private schools is driving buyers, as parents want to avoid lengthy commutes in Miami traffic.
Glidden, who founded software companies Introhive and Postilize, purchased a canalfront property measuring nearly 6,000 square feet. The home features six bedrooms and five and a half bathrooms on a half-acre lot, with a purchase price equating to $800 per square foot.
“Areas like Biscayne Park still offer pretty good value. If you want to make a decent multiple on your property, it’s harder to do now in other parts of [Miami],” Glidden said.
The development partnership behind Glidden’s new home—comprising Aaron Butler of Avenue Real Estate and Kobi and Nancy Karp—acquired the lot for $1.4 million in 2022. Butler, who also brokered the deal, explained that the area’s appeal stems from its proximity to Miami Country Day, curb appeal, and low crime rate, all of which influenced his decision to invest.
“I would develop [in Biscayne Park] again. We’re looking,” Butler added.
In recent months, at least two other newly constructed homes have sold in Biscayne Park for prices similar to Glidden’s purchase. Although one home had been on the market for some time, Glidden’s cash offer helped drive additional transactions and provided a new comparable for appraisers.
Butler described this period as a “transitional time” for the community.
Puig recently handled the $5.3 million sale of a four-bedroom, five-and-a-half-bathroom residence at 967 Northeast 117th Street. The 4,355-square-foot home, built on a third of an acre, was sold by an affiliate of Pintos Residential—led by Rodrigo Pintos and Roberto Lopez—to an LLC managed by an attorney in late November.
This same property had previously sold for $450,000 in 2021.
A month before that, a couple purchased a 4,860-square-foot, six-bedroom, seven-and-a-half-bathroom home at 740 Northeast 120th Street for $4.6 million. The newly built house, also on a third-acre lot, was sold by a developer LLC led by Daniel Jaramillo. Coldwell Banker’s Juan Zuluaga represented the seller, while Andrea Tavella of Vella Real Estate represented the buyers.
The lot for this property was last sold for $750,000 in 2022.
Miami Country Day School, regarded as one of South Florida’s top private schools, recently received approval to update its master plan. According to Francisco Garcia of the Euclid Group, the school will incorporate additional properties it owns and increase the height of some planned buildings from two to three stories. The land-use consulting firm is assisting with the expansion of the upper and middle school campus, which will include a new dining center, enhanced traffic flow, and more green space.
The school also recently unveiled a $20 million fitness and wellness center.
“Without question there is exceeding demand for educational facilities in Miami-Dade County, particularly in the private school sector,” Garcia said. He noted that while new buildings are being constructed, the school’s enrollment will not increase.
“[Biscayne Park] really is in a fortunate geographic location,” Garcia added. “Traffic is going to be an issue for us for the indefinite future.”
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