5060 N BAY RD, Miami Beach, FL 33140

5060 N BAY RD, Miami Beach, FL 33140 is a 8-bedroom, 7.5-bathroom residential - single family : 1 unit built in 1935 with 6,672 square feet of living space on a 30,144 square foot lot. The property is currently owned by DILIP B PATEL TRS THE BROWN BEAR TRUST, recorded as of 2026-04-19. The mailing address differs from the property address, suggesting this may be an investment property or rental.

The most recent sale was on 2025-02-12 for $25,500,000. There are 4 recorded sales for this property. The 2025 assessed value is $1,942,147 with a market value of $20,611,267.

This breaks down to $19,593,600 for the land and $1,017,667 for the building. The assessed value increased 3% from $1,887,413 in 2024. The property has the following tax exemptions: homestead.

The median household income in this area is $191,786, and the median home value is $2,000,001. The population density is 2,726 people per square mile. 5060 N BAY RD, Miami Beach, FL 33140 is located in Miami Beach, Florida.

Property records, tax assessments, sales history, and ownership information for this Miami Beach property are sourced from miami_dade County public records. The complete ownership history of this property spans from 1980 to 2025, with 4 recorded transactions in the public record. The current assessed value represents 8% of the most recent sale price.

This low ratio may suggest the property is under-assessed relative to market value, common after recent improvements or a competitive purchase. Based on the most recent sale, this property traded at $3822 per square foot — a key metric for comparing value across Miami Beach's real estate market..