Paper Products Heir Shatters Record with $16M Morningside Waterfront Purchase

Paper products heir David Simkins has made a splash in Miami's real estate market, shattering the record for the most expensive home purchase in the Morningside neighborhood. Sources have confirmed that Simkins is the buyer of a stunning waterfront property at 5725 North Bayshore Drive, previously owned by Mango's Tropical Café owner David Wallack. The deal was brokered by Jill Eber of the Jills Zeder Group at Coldwell Banker Realty, who represented both the buyer and the seller in the transaction.

The $16 million sale has surpassed the previous record set by Barstool Sports founder David Portnoy, who snagged a $14 million property in Morningside. The purchase cements Simkins as the new king of the neighborhood, with a property that boasts breathtaking views and luxurious amenities.

Simkins, the son of the late Leon Simkins, comes from a wealthy family with a successful paper products business. His bold move into the Miami real estate scene has certainly turned heads and raised eyebrows, with many eager to see how he will make his mark on the city.

Originally reported by The Real Deal.

https://therealdeal.com/miami/2025/09/17/buyer-revealed-david-simkins-dropped-16m-on-morningside-home/