Hedge fund founder Adam Sender, founder of Exis Capital Management and noted art collector, is relisting his waterfront home in Miami for $9.9 million, down from a previous $10.95 million ask in December 2015.
Mr. Sender, who sold Exis in 2014, has a contemporary art collection that in 2011 contained 1,000 pieces valued at more than $100 million. A portion of the collection was sold at auction by Sotheby’s in 2014.
The former hedge fund manager purchased the Miami Beach property in 2011 for $6.75 million. The home was subsequently listed for $13.5 million in 2014, and taken off the market. In 2015, the home was relisted with several price changes before being removed at $10.95 million.
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"This is one of the most glamorous homes on North Bay Road," said Nancy Bernstein, the listing agent with ONE Sotheby’s International Realty. "The grounds are manicured with high hedges, and there’s a grand driveway that gives it the feel of the original 1949 estate."
The renovated two-story house, with five bedrooms, five bathrooms and one half bath, has 5,035 square feet of living space, with marble and wood floors, and a screened patio/porch. All the bedrooms, with walk-in closets, have ensuite bathrooms. Bedrooms on the second floor also have balconies.
The first floor includes a living room, formal dining room, a bedroom currently being used as an office, an in-law suite, family room, and a utility/laundry room.
The contemporary style eat-in kitchen has a pantry, state-of the-art appliances including stove top, range hood, microwave, and oven by Miele, a Sub-Zero refrigerator, and built-in espresso machine by Miele. A water softener system is included.
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A Lutron wireless shading system is installed throughout, as well as Hunter Douglas blinds. A surround sound system is featured in the family room with built-in speakers.
The residence sits on a 24,000-square-foot lot with 100 feet of waterfront property and a new boat dock with boatlift. The estate, which has views of Biscayne Bay and the city of Miami, also features a heated pool, two-car garage, automatic sprinkler system, and private generator in case of power outages.
The grounds are gated and walled for privacy.
"The seller wants to downsize to a condo," Ms. Bernstein said. "This is a perfect place for those who want to be on the quieter end of North Bay. For those who might want to expand, there are also architectural plans available for adding on to the house."