Published by The Real Deal South Florida, February 26, 2021
UPDATED, Feb. 26, 6:55 p.m.: The founder and CEO of a major payment processing company is under contract to pay about $37 million for a waterfront property in Miami Beach, Florida. The Real Deal has learned.
Marc Gardner, who leads North American Bancard Holdings, a payments technology company based in Troy, Michigan, is acquiring the mansion and adjacent lot at 4580 North Bay Road, in an off-market deal, sources told TRD. The eight-bedroom, eight-bathroom home spans about 13,000 square feet and was built in 2007. It sits on a 24,805-square-foot lot. That property last sold for $13.5 million in 2011. Gardner is also acquiring the adjacent 23,981-square-foot lot, to the south, which means he will own about 1.1 contiguous acres.
Bancard offers credit card processing, mobile, restaurant and retail point of service, and other services. It processes more than $45 billion in transactions, according to its website.
Property records show the seller of the Miami Beach mansion and lot is Stimul Group LLC, which is tied to Vladimir Krasavtsev. The mansion and lot last traded for $18.5 million in 2011.
Douglas Elliman agent Dina Goldentayer represented the buyer, and One Sotheby’s agent Mirce Curkoski represented the seller, sources said. They could not be reached for comment.
Gardner’s pending purchase of the North Bay Road mansion and lot adds to a stream of big ticket sales on the high-end street.
In recent weeks, spec home developer Andian Group sold the waterfront mansion at 3080 North Bay Road for $23.7 million. A doctor recently sold her home at 4540 North Bay Road for $18.7 million, and billionaire hedge fund manager Dan Loeb recently picked up a spec mansion for $20 million and a teardown farther south for $12 million.
Luxury waterfront home sales are on the rise, fueled in part by wealthy buyers relocating from the Northeast, California and Midwest. With dwindling inventory, buyers and brokers are now turning to off-market deals.