He made him an offer he couldn’t refuse!
Hedge fund billionaire Warren Lichtenstein, the founder and executive chairman of private investment firm Steel Partners Holdings, bought a waterfront mansion in the Venetian Islands in Miami Beach for $ 15.5 million – but the house wasn’t even available at the time. buy.
The purchase shows that everyone has their price – and for the owner of the 5,686-square-foot home, Myles Chefetz, the CEO of Myles Restaurant Group, he was $ 10 million more than he paid for it in 2013.
Restaurateur Myles Chefetz sold his home for $ 15.5 million to billionaire Warren Lichtenstein, founder and executive chairman of Steel Partners Holdings
Billionaire Warren G. Lichtenstein, left, made restauranteur Myles Chefetz, right, an offer for his Miami mansion he couldn’t refuse
Chefetz’s 5,686-square-foot home was not for sale, so when Lichtenstein made him an offer, he resisted a price $ 10 million higher than what he paid for the mansion in 2013.
The Mediterranean style house was built in 1936 and is set in 17,500 square feet of land with a pool and dock
The house is on the waterfront but also comes complete with a decent sized pool
The two-story, six-bedroom, five-bath home has a 30-foot waterfront with room for a 90-foot yacht
From the outside patio, the house looks like it could be in Italy or some other Mediterranean destination
Chefetz, who bought the house for $ 5.65 in 2013, initially declined the sale, according to the US New York Post, but he has now nearly tripled his investment.
“The Florida housing market is insane,” Chefetz said. ‘I didn’t want to sell it and once it got out I had better offers for millions more. It was the perfect storm.
“I responded with a high number, basically because I didn’t want to sell it,” Chefetz said. “The real estate agent pushed me in front of a counter.”
The Miami mansion was originally built on the 17,500-square-foot property in 1936 before being expanded in 1987 and by 2013.
The two-storey Mediterranean-style villa has six bedrooms and five-and-a-half bathrooms
The bathroom offers views over the water and the distant beach buildings
Plenty of marble runs throughout the house, along with wood-beamed ceilings
An island kitchen provides ample preparation space during meals
The six bedroom, 5½ bathroom villa comes complete with a pool, dock, half-court basketball set-up and includes a movie theater, gym and roof terrace.
The house spans a stretch along 100 feet of water with a deep water dock allowing a 90-foot yacht to moor.
Chefetz is famous for the Prime 112 steakhouse that opened in Miami Beach in 2004 and is fast becoming one of the city’s hottest restaurants and celebrity hotspots. Chefetz also opened Nemo in 1995.
Other restaurants he runs include Prime Italian, Big Pink, and Forte Dei Marmi, which also draw celebrities to the locations.
This wood-paneled room makes this the perfect place for a game of pool
Shiny marble floors seem to run throughout the house, along with bright white walls that give the place an airy feel
The restaurateur has lived in Miami for 25 years and will now likely live in his three-bedroom South Beach home while looking for a new mansion.
Lichtenstein founded Steel Partners in 1990 at the age of 24. The company mainly invests in manufacturing and supply companies and also owns WebBank.
In 2015, he was ordered to pay a British heiress $ 367,000 in unpaid child support after a bitter custody battle.
Lichtenstein was tasked with handing over the money to Annabelle Bond and covering her legal fees and other expenses incurred during their “ war of attrition, ” which lasted six years from 2009.
The daughter of former HSBC chairman Sir John Bond, Bond claimed Lichtenstein in honor of the $ 41,428 in monthly child support awarded to her by a judge in Hong Kong.
One of the reception rooms in the house is brightly decorated thanks to white walls and a white marble floor
The modern fitted bathroom is brightly lit thanks to some large windows and mirrors that open onto the water