Waterfront lot on North Bay Road hits market for nearly $20 million

Want to build your dream home?

A vacant waterfront lot at 5840 North Bay Rd. just hit the market for $19.95 million. The property is just shy of an acre, meaning the listing price is about $526 per square foot.

Ritzy North Bay Road has been home to several celebrities including Shakira, Matt Damon, Chris Bosh and new arrival Phil Collins, who bought Jennifer Lopez’s former mansion earlier this summer for $33 million.

The lot has 191 feet of waterfront land with views of Biscayne Bay and downtown Miami.

“North Bay Road is such a desirable location because of its wide bay views,” Jill Eber of the Coldwell Banker realty team the Jills said in a statement. “This beautiful lot offers buyers a chance to build their dream estate, the way they want it, in one of Miami’s most sought-after luxury residential areas.”

The sellers are a Coral Gables-based company called Barish Family Investments, county property records show. The company bought the lot for $15.25 million last year. A 6,218-square-foot home used to stand on the site.

This story was originally published August 3, 2015 at 11:30 AM with the headline "Waterfront lot on North Bay Road hits market for nearly $20 million."