Developer Michael Klinger has cashed out of his revamped Bal Harbour waterfront mansion for just under $43 million, a deal that clocks in as the village’s priciest home sale so far this year. The glassy estate at 56 Bal Bay Drive sits on the Intracoastal, spans roughly 10,800 square feet, and packs seven bedrooms and more than eight bathrooms. The buyer remains a mystery, and the deed had not been recorded at the time the sale was announced.
Sale details
Affiliates of Klinger’s Saber South Real Estate sold the 10,800-square-foot property at 56 Bal Bay Drive for just shy of $43 million, according to The Real Deal. The outlet reported that the deed had not yet hit public records and that the buyer’s identity is still undisclosed. Douglas Elliman’s Dina Goldentayer and Joel Lusky of The Brokerage South Florida had the listing, while Cindy Orlinsky represented the buyer in the off-market style swap.
House and design
The contemporary residence, designed by Miami-based NMD Nomadas with interiors by Fanny Haim & Associates, sits on about a half-acre with roughly 100 feet of Intracoastal frontage, according to Saber South. The home is listed at about 10,800 to 10,801 square feet and includes seven bedrooms and roughly eight-and-a-half bathrooms, along with expansive outdoor terraces and a private dock aimed squarely at a yachting lifestyle. Saber South’s own portfolio notes the firm redeveloped the property between 2022 and 2024, keeping the basic structure but giving the rest a full luxury reboot.
Klinger’s flip
Transaction records compiled by Traded show entities tied to Klinger paid roughly $15.4 million for the Bal Harbour home in 2022, then held onto the shell while carrying out an extensive renovation. When he bought the property, Klinger told reporters he hoped to resell the finished mansion for about $30 million, according to coverage in The Real Deal. The final trade, just under $43 million, blew past that early target.
What this signals for the market
The sizable gain over a relatively short holding period underscores how thin waterfront inventory and continued inflows of high-net-worth buyers are pushing the upper end of Miami-Dade’s market higher. MIAMI REALTORS’ Q1 2026 report shows luxury and ultra-luxury price thresholds climbed this year, a backdrop that brokers say is luring buyers from higher-tax states and keeping demand strong at the very top.
For now, the deal adds another trophy sale to South Florida’s summer scorecard and highlights the premium developers can command when they deliver turnkey, on-trend waterfront product into a hot market. Klinger’s flip, bought in 2022 and sold three years later for nearly triple his purchase price, is likely to be studied closely by spec builders and high-end buyers who are watching where the ceiling might land next.
