Waterfront land in Bal Harbour does not come cheap.
What's believed to be a teardown--there are no interior images, all deep aerial shots, and it was built in the '80s--at 44 Bal Bay Drive just hit the market asking $19.9 million. The owner is hedge fund manager Richard B. Alman, per the Real Deal.
Located just west of Bal Harbour Shops in a gated community, the double-lot property measures up at 1.03 acres and includes a tennis court, restored swimming pool and 200 feet of water frontage.
At $2,882 a foot, it's the fifth most expensive home in Bal Harbour by price per square foot (Redfin) and the second priciest overall, behind the $36-million modern waterfront home that was recently featured on the cover of Maxim.