Five apartment buildings in Bay Harbor Islands purchased

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Arnaud Karsenti

Brian Bandell

Senior Reporter- South Florida Business Journal

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A Miami Beach investor paid $11.6 million for five apartment buildings in Bay Harbor Islands.

The buildings have 70 units so the price works out to $156,757 per unit for the buildings, which are more than four decades old.

Bay Harbour Holdings, a Miami-based company headed by 13th Floor Investments head Arnaud Karsenti sold the buildings in two transactions to PB Harbor North, an affiliate of Boardwalk Properties.

The Miami Beach-based company recently bought some apartment buildings on South Beach.

RELATED CONTENT: South Beach apartments sold for $22M

The buildings were part of a 10-building portfolio that was seized in a deed-in-lieu of foreclosure in 2012. This deal covers 10150, 10190, 10200, and 10290 E. Bay Harbor Drive and 1075 101st Street. They total 57,544 square feet.

Karsenti said his company previously sold several of the building on Bay Harbor, but it's keeping on site along the water for a condo project. 13th Floor and Integra Investments are partnering for the 40-unit Sereno Bay Harbor. Karsenti said the project is fully pre-sold.

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