The singer and songwriter Nicky Jam wants to record a real estate hit. The musician is looking to sell his pitch-perfect Miami Beach mansion for $3.3 million.
The reggaeton star purchased the property just two years ago for $3.4 million, but he will most likely take a loss on the deal. The residence first landed on the market at the end of 2019, with an asking price of $3.65 million.
In the efforts to find a buyer, the price was cut multiple times over the past year. It’s now been relaunched on the market with a fresh price tag and a new marketing campaign.
The timing is right—buyer attention is on the rise in South Florida’s hot housing market. The heat is turned up even higher in exclusive Palm Island, where Jam’s modern gem is located. The island has only about 136 houses, with 22 listings currently on the market.
“If you want a beautiful modern home, a new home that is turnkey and ready to move in, this is a great home to move forward on,” says the listing agent, Tony Rodriguez Tellaheche, co-founder and managing broker of Prestige Realty Group. The agent described the current market for Palm Island homes as “on fire.”
Jam, whose given name is Nick Rivera Caminero, picked up the property, located on the ultra-exclusive Palm Island community, at around the same time he reportedly split from his wife, Angélica Cruz.
While the bachelor pad was the perfect spot for him at the time, he’s now moving on with his life, and out of this home in search of more space, Tellaheche says.
Meanwhile, Jam leaves behind some personal touches. He had the exterior trim painted black for a more dramatic look. And he also added an ipe wood deck surrounding the pool in the back of the house.
Built in 2016 and described as a “thoughtfully designed Zen masterpiece,” the home features five bedrooms and five bathrooms on 3,617 square feet.
Designed for melding indoor and outdoor living, the living and dining area look out to a full wall of glass doors, which extend the living area out to the pool.
For those who like to whip up feasts at home, the sleek chef’s kitchen features high-end Miele appliances, a large island with bar seating, and a wine fridge. Other notable details include hardwood floors and high ceilings throughout.
Upstairs, the bedrooms are outfitted with walk-in closets. The flexible floor plan features two more bedrooms on the main level, which could be used for office space or a workout room.
A master suite offers a large terrace, a huge walk-in closet, and an en suite bathroom with dual sinks, a stand-alone tub, and separate shower.
Outdoors, the large lot also boasts an infinity pool, wooden deck, barbecue area, and a two-car garage with plenty of air-conditioned storage.
Residents of the 82-acre Palm Island enjoy private access to Palm Island Park, tennis and basketball courts, and community police. The convenient location is just over the bridge from South Beach and the cultural attractions of downtown Miami.
The cluster of islands in Miami Beach are appealing to public figures for the tight security and privacy they offer. Jennifer Lopez and Alex Rodriguez reportedly just bought a lavish estate on the nearby Star Island.
Certainly, others will appreciate the celeb-friendly features that persuaded Jam to buy here.
“What attracted him is what is going to attract other people,” Tellaheche says. “It’s a nice, new modern home in a fantastic location on guard-gated South Beach.”
The Billboard Music Award and Billboard Latin Music Award winner recently announced his engagement to the model Cydney Moreau. Jam, 39, also appeared in the movie “Bad Boys for Life,” and produced and starred in the 2018 Netflix series “Nicky Jam: El Ganador.”
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