Celebrity
Real Estate News
1500 Ocean Drive
South Beach
1500 Ocean Drive: Mavericks, Magnates and…Disgraced Russian Lawmakers?
by , April 25, 2013
What do Dallas Mavericks owner Mark Cuban, oil magnate Tim Headington, and ex-Russian Parliamentarian Vladimir Pekhtin have in common? If you guessed ownership of a residence at 1500 Ocean Drive in Miami, you win a cookie. Well known as the Michael Graves Building, after its acclaimed architect, the condominium complex has been drawn into the international spotlight as it was recently unearthed that a founding member of Russia’s ruling party was forced to resign after it was uncovered that he didn’t report the property as an asset in his parliamentary declarations. The resignation was embarrassing to the Kremlin as critics of the sitting Russian government often accuse officials of hiding their wealth through offshore holdings.
While the international press may have introduced a bit of negative press for the property, the complex is widely acknowledged as one of Michael Graves’ finest works. Completed in the mid-1990s, Graves was at the center of the building’s ad campaign and reached such extreme recognition that he went on to launch an exclusive housewares collection at Target. The exposure brought on by the ad campaign and his lucrative collaboration with Target firmly established him as one of the most recognizable architects in the world.
Graves’ love of Gesamtkunstwerk (“artistic synthesis,” in German) design, surely played a role in attracting the attention of Pekhtin, whose condo at 1500 Ocean Drive is one of three he owns in Miami and cost the former ethics committee chairman a cool $1.3 million. The condo is part of a larger collection of secret properties purchased by Pekhtin both in Russia and abroad. Though he insists he did not violate the law, Pekhtin succumbed to political pressure and stepped down from his post in February.
 |
 |
 |
| Vladimir Pekhtin | 1500 Ocean Drive | Mark Cuban |
Contact us
The insider's guide to Miami condos
Find the right condo in the perfect neighborhood
August 20/08/25 weekly blog
Flurry of Activities at Coconut Grove with Commencement of Construction and Pre-construction Sales Now Open for the Grove at Grand Bay unique testing 1
Miami Events for February 2023: Valentine’s Day, Miami International Boat Show, Coconut Grove Arts Festival, Art Wynwood, South Beach Wine & Food Festival & More Festival & More
Watch Miami’s Best Airbnb-Friendly Pre-construction Condos: Where Luxury Fuels Profit
If you’ve set your sights on Miami for your next second home, but are facing the choice between leaning into luxury or prioritizing rental revenue, we’ve got great news: with the right guidance, you’ll find that lifestyle and income don’t have to be mutually exclusive.
Annual & Q4 2024 Miami Beach Luxury Condo Market Repor (From Google Doc)
Despite shifting toward a buyer’s market, Miami Beach ended 2024 on a strong note. In Q4, sales momentum surpassed projections, with both annual and quarterly volumes increasing. While some segments saw slight price pressure, there were no signs of a major downturn.
test monthly 24.07.25
Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of "de Finibus Bonorum et Malorum" (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, "Lorem ipsum dolor sit amet..", comes from a line in section 1.10.32. Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of "de Finibus Bonorum et Malorum" (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, "Lorem ipsum dolor sit amet..", comes from a line in section 1.10.32.
Sign up now
Get news and updates delivered to your inbox