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Seeking $5mil for $1mil

SEEKING $5MIL FOR $1MIL

Beyond Golden Pond, Golden Beach

By Juan Carlos Rodriguez

Most weekends, Denise Rubin can be found driver her late model Bentley through the cul-de-sacs of Golden Beach, a wealthy gated community of 370 single-family homes on a stretch of land between the Intracoastal Waterway and the Atlantic Ocean. The Bentley makes a bold statement, intended to impress potential buyers looking at those waterfront mansions. Rubin’s Yorkshire terrier, Bentley; jeweled sunglasses, blond hair and rhinestone-encrusted cell phone complete the look.

“I have the right style for selling on Golden Beach,” she said, noting that Bentley the dog was dressed in a custom-fitted Romero Britto jacket and matching hair ribbons.

Rubin, a real estate agent for Coldwell Banker, has been selling Real Estate in Golden Beach, at roughly 200th street and close to Aventura, for 11 years. On a recent Sunday, Rubin led Allen Cohen, a semi retired certified public accountant from New York, to take a look at a newly listed house on Center Island Drive. Cohen has been looking for a new two-or-three bedroom home exclusively with Rubin. “I knew her before she drove the Bentley,” he said.

Cohen, a 62-year-old bachelor, was dressed in smart slacks and a pastel button-down Ralph Lauren shirt. He said, “I like to think of myself as a colorful person, and Denise knows what I’m looking for.”

Cohen had been searching for a comfortable house or condo for two months, since breaking up with his long-term girlfriend. She kept the condo in Aventura, and Cohen has been seeing homes north of 163rd Street and Collins Avenue, including condos in Hidden Bay in Aventura and the Atlantic 1 in Waterways as well as a penthouse in the Sian building in Hallandale beach.

It’s been a frustrating search, he said, as no property seems to meet his criteria: A turnkey modern condo or house on the Intracoastal or ocean with an impressive mater bedroom suite, ample close space and rooms for his grandchildren to visit. A private dock would be a plus.

He was zeroing in on properties in the $2 million to $5 million range. One Golden Beach, “Which as a great reputation as a desirable neighborhood,” he said, prices start at nearly $1 million for a small house on a dry lot and reach $26 million for a 64,000 square foot mansion on the ocean.

“I’m looking for a $5 million dollar house that I can buy for a million,” Cohen said. “But it’s really more of a question of how much I love the place.”

The house Rubin was showing that day had potential. Built in 1957, it sits on a 17,800 square-foot lot on the Intracoastal Waterway, at the end of a cul-de-sac. Its walkway and large rectangular upstairs windows attest to a major renovation completed in 1999. The four bedroom house was listed at $3.5 million.

Rubin led Cohen into a sleek contemporary main room that scream a post-Miami Vice ambience. There is a black marble tile floor; neon lights in coves near the ceiling bathe the whole house in a soft pink hue. Lime-colored walls and panoramic windows that face the water add a tropical coolness.

The house is owned by developer Arman Azadi, who emerged from the kitchen to welcome Rubin and Cohen. Azadi, who lives there with his family, gave a fast run-down of the features: new appliances, including a Sub-Zero refrigerator, a state-of-the-art air conditioning system and a safe in the bedroom. “This house has zero problems,” Azadi said. “During the last hurricane only one tile fell off the roof.” The he mentioned the revamped dock that can hold an 85-foot yacht.

Rubin led Cohen to the back yard, where they passed a 25-foot rectangular swimming pool on their way to the dock. The dock was a hit (Cohen, it turned out, was thinking of buying a 25-foot sailboat) and so was the modern-looking main room. “So far so good,” he said. But there was more of the house to explore. He followed Rubin to see the downstairs guest bedroom. Then they made their way to the second-floor master bedroom suite. The blond wood floors, balcony and panoramic window gave the room a Key West feeling.

They went back downstairs and met Azadi, who told Cohen about the neighborhood. In Golden Beach, he said, neighbors know each other. The community is, in fact, an incorporated town, with a police force, elected council and a private beach, which is just a short walk away and reserved for residents only.

Cohen and Rubin said their goodbyes and drove a quarter mile down the road to check out the private beach. The house had many of the things Cohen was looking for and was within his price range.

But in the current market, he wasn’t feeling any pressure to move quickly. The Azadi house, he said, was renovated but not as modern as he would like. And it did not have ample enough closets and storage space. The dock was an unexpected plus, but he is continuing his search and hoping that prices come down in what he feels is a buyer’s market. “I don’t want to sign a contract,” he said, “and find out six months from now that I could have bought it at a much lower price.”

GOLDEN BEACH

Incorporated in 1929, Golden Beach is an exclusive gated enclave located on a 1.8 mile stretch along Collins Avenue, at the northernmost boundary of Miami-Dade county, where it meets Broward.

The town has an elected council, permitting department, police force and municipal parks. The community’s 370 single-family homes have listings from $999,000 for a small house on a dry lot to $26 million for a mansion on the ocean.

The city charter forbids any commercial development as well as high-rise condominium projects. But there are no historic designations in Golden Beach, so many homes are being sold as tear-downs.

Golden Beach is 18 miles from the Miami International Airport and 15 miles from the Fort Lauderdale/Hollywood Airport. Nearby shopping includes the Aventura Mall, Sunny Isles Beach and the Bal Harbour Shops.

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