Florida Mansion Sold for Record $21 Million by Restaurant Owner

Photo byTHE BROKERAGE SOUTH FLORIDA

In a landmark real estate transaction, Vilma Vilarino Knips, owner of Las Vegas Cuban Cuisine Restaurants, and her husband James Knips, who owns the Christmas Palace decoration store, have sold their newly built mansion on Biscayne Bay for a staggering $20.75 million. This sale has set a new record for North Miami, surpassing previous high-water marks in the city's real estate market.

A Record-Setting Sale

The luxurious property, located at 11420 N. Bayshore Drive in the upscale San Souci Estates, was sold to the 11420 N. Bayshore Land Trust, with Seacreatures LLC acting as trustee. The sale price translates to $2,545 per square foot, reflecting the high value of this exclusive waterfront estate.

Joel Lusky from The Brokerage South Florida represented the sellers, while Dina Goldentayer of Douglas Elliman managed the buyer’s side of the transaction. Lusky noted that the mansion’s sale price set a new benchmark, breaking the previous record of $10.6 million for North Miami. He attributed the record-breaking sale to several factors, including the home's unique position on Biscayne Bay and its unmatched new construction status.

Photo byTHE BROKERAGE SOUTH FLORIDA

The Mansion's Features

This impressive 8,153-square-foot residence, designed by the renowned Miami-based Portuondo Perotti Architects, boasts a range of high-end features. The mansion is situated on a 15,300-square-foot lot and includes:

• Six spacious bedrooms
• Seven and a half elegantly designed bathrooms
• A state-of-the-art gym
• An office and media room
• A luxurious pool
• A summer kitchen
• A private dock
• An elevator
• A 539-bottle wine room

The living room's expansive 80-foot width and the mansion's prime waterfront location were key selling points, setting it apart from other properties in the area.

Vilma Vilarino Knips and her family have deep roots in the local community. Las Vegas Cuban Cuisine, established in 1984 by her parents Antonio and Nilda Vilarino, has grown to include 12 locations across Miami-Dade and Broward counties. Vilma, one of their five daughters, has played a significant role in the continued success of the restaurant chain.

The mansion’s sale marks a notable achievement in North Miami’s real estate market, reflecting the area's growing appeal and the increasing value of luxury waterfront properties.