Jay R. Schreibman aims to flip his Miami home for $17.2M

While race car drivers do everything they can to avoid flipping cars on the racetrack, flipping homes is a different kind of challenge.

That said, Ferrari Challenge driver Jay R. Schreibman is trying for an impressive Miami spec house flip, Gimme Shelter has learned. He’s listing his modern manse for $17.2 million — roughly three months after shelling out $14.5 million for the home on April 10. 

Schreibman is area chairman for Gallagher, an Illinois-based insurance brokerage and risk management services firm. He bought the residence from developer Alex Pirez, who had plunked down $2 million for the land in 2020, according to property records.

“Jay has done some work to the house and he is selling it fully furnished,” a spokesperson said.

The Ferrari Challenge, launched in 1993, caters to Ferrari owners who want to race their cars. The first North American series launched in 1994.

The handsome home is at 4820 SW 86th Terrace and was built last year in the Ponce-Davis neighborhood. It was designed by SAOTA, an award-winning international architecture firm. At 9,000 square feet, it features a modern design for indoor/outdoor living — on .87 acres. Inside there are five bedrooms, five baths and two powder rooms.

Floor-to-ceiling glass windows showcase the views and let in abundant light. The home boasts a chef’s kitchen that connects to an open/dining area, while the main bedroom suite overlooks the grounds and outdoor lounges.

Outside, there’s a pool, a summer kitchen and resort-style spaces for entertaining.

“It’s such a special house — an architectural design that we haven’t seen before, with so much wood and natural light, and it’s great for entertaining, with sliding doors that completely open to the outside, for a full indoor/outdoor entertaining lifestyle,” said Compass broker Maurice Boschetti.