A waterfront home in North Bay Village has been sold by a member of the Simkins family to Pawan Singh, an investor who has been acquiring multiple properties in the area. According to an analysis by The Real Deal, Singh has spent $61.5 million on 11 houses, many located along Terrace Drive and with water access. These purchases have allowed him to assemble at least 2.5 acres of land and control more than 500 feet of water frontage, though not all parcels are connected.
Singh is the CEO of NavX Consulting, a management and technology consulting firm based in Vienna, Virginia. He was previously a principal at Deloitte, according to his LinkedIn profile. Singh did not respond to requests for comment.
His most recent acquisition is a five-bedroom, four-bathroom house at 1365 Bay Terrace. Last week, he paid $13.5 million for the property, which features 215 feet of waterfront. The house was purchased through a Falls Church, Virginia-based LLC linked to Singh. Records show that Simkins acquired the same house for just over $3 million in 2016. Built in 1942, the home sits on a corner lot with a pool and dock.
Singh began buying homes in North Bay Village in 2022 with his first purchase being a four-bedroom, three-bathroom house at 1480 South Treasure Drive for $3.9 million. That property was built in 1950 and includes 60 feet of waterfront on a 0.2-acre lot; Mark Stephan of Engel & Voelkers brokered the deal.
At least one property owned by Singh is available for rent: a three-bedroom, four-bathroom house at 7401 Miami View Drive is listed for $8,000 per month with Douglas Elliman’s Elizabeth Gazay.
The trend toward assembling larger parcels of waterfront land has continued elsewhere in Miami Beach as well. In July, developer Todd Michael Glaser and the Posner Group purchased a 2.3-acre estate at 5940 North Bay Road for $105 million and are seeking to resell it for $169 million or rent it out for $495,000 per month while also planning potential development.
North Bay Village is home to several notable residents including developer Alexandra Eichner; Marc Megna, co-owner of Anatomy Fitness; owners of Farrey’s Lighting & Bath; and real estate agents such as Sam Heskial, Sari Libben Shapiro and Chris Wands.
Wands, who works with Douglas Elliman and moved into North Bay Island with his wife in 2021, said: “I felt it was undervalued with the connectivity to the beach and the mainland. Without traffic, I’m in the Design District or beach in 10 minutes,” he said. “My wife loved the idea that it had its own municipalities, police and fire.”
Last month saw another significant transaction when a Miami businessman sold his waterfront home at 7520 West Treasure Drive for $12.5 million—the highest price recorded on Treasure Island so far.
North Bay Village also has several major condo and mixed-use projects planned by developers such as Related Group and Macklowe Properties; Sunbeam Properties led by the Ansin family; partnerships involving Vivian Dimond; Continuum Company from the Eichners; and Riviera Horizons led by Mikael Hamaoui.
