A six-bedroom waterfront estate at 142 S. Island Drive in Golden Beach went under contract for $17 million during the week ending Aug. 17, ranking as the third-highest single-family home contract in Miami-Dade County that week, according to the weekly luxury report from Douglas Elliman's Eklund-Gomes Team.

The seller is a trust in the name of J. Claudio Stivelman, founder and CEO of S2 Development, according to county property records cited in the Miami Herald's weekly contract roundup. Stivelman's firm developed Muse Residences in Sunny Isles Beach and the $210 million Artech Residences designed by architect Carlos Ott.

Home features 105-foot pool, 60-foot dock and 186 feet of frontage

The property had been listed at $23 million before a price cut to $16,999,000, according to listing records. The $17 million contract price aligns closely with that reduced ask. Built in 2011, the home sits on 186 feet of water frontage and includes roughly 8,800 square feet of living space, a 105-foot infinity-edge pool, a 60-foot dock, a theater, wine cellar and elevator.

The buyer has not been publicly identified.

Island Drive sees streak of high-dollar sales

The deal adds to a streak of high-dollar transactions on Island Drive. A home at 194 S. Island Drive sold for $27.1 million on Jan. 6, which agent Dina Goldentayer of Douglas Elliman called the highest bayfront sale in Golden Beach history. A $24 million oceanfront lot at 625 Ocean Blvd. closed July 27.

Miami-Dade's $30 million-plus home sales nearly double 2025 pace

The broader market is running hot. In the first half of 2026, 24 condos and single-family homes in Miami-Dade closed above $30 million, nearly double the same period in 2025 and on pace to surpass that year's record of 33 such sales, according to Analytics Miami data reported by Bloomberg. Miami-Dade outpaced New York City, which logged 17 sales in that range over the same stretch.

"This level of tech wealth is in a different stratosphere," Goldentayer said in a July 27 Bloomberg report on the surge. "There are such elite players now."

Wealthy buyers from California, Northeast fuel Golden Beach demand

Golden Beach, a gated oceanfront enclave of roughly 300 single-family homes with no commercial development, has drawn buyers migrating from California and the Northeast. Analytics Miami founder Ana Bozovic attributed the influx to policies in those states that wealthy residents view as detrimental to their businesses. As we reported Aug. 12, ultra-luxury sales in the Golden Beach and Sunny Isles corridor have doubled year over year.

Stivelman, who was born in Rio de Janeiro and moved to Miami in 1991, manages companies holding more than 2 million square feet of investment property across South Florida and Georgia. His firm also holds over 100,000 square feet of Aventura warehouse space.

No closing date for the 142 S. Island Drive contract has been disclosed.