As Miami’s condo market experienced unprecedented gains during the past two years, demand for real estate, particularly high-end real estate, has moved to the north, through Miami-Dade County all the way to Hollywood and Hallandale at the beginning of the Broward County line.
That represents a shift, as Broward County has traditionally been something of a border for the luxury market, with only certain buyers choosing to cross it, and usually for less than comparable properties in Miami or Palm Beach.
The main difference, of course, is condominiums. While the top sales in Miami-Dade saw a large number of condo transactions among its top 15 (see “Indian Creek dominates Miami’s top sales”), Broward’s superhigh-end condo market has a far more limited supply. Just one condominium sale, a $3.8 million transaction at Fort Lauderdale’s L’Hermitage, made the top 15.
Broward’s top 15 sales for the first nine months of 2012 — totaling $81.05 million — were led by the $12 million sale of 991 Hillsboro Mile in the exclusive waterfront enclave of Hillsboro Beach. The five-bedroom, 11,000-square-foot home was built in 2007.
Joseph Liguori and Carmen D’Angelo of Premier Estate Properties handled the deal as listing and selling agent, respectively. In fact, Premier Estate handled four of the top 10 sales in the county.
Second on the list was the $7 million sale of 3305 Fairfield Lane in Weston, sold by Richard Nilsen, who built the Mattress Giant company. The home is located in the Windmill Ranch Estates subdivision, which was formerly home to Hall of Fame quarterback Dan Marino (who entered the Broward real estate game in 2011 as an equity partner with MMD Realty).
Eiglarsh Realty’s David Eiglarsh was the listing agent, and Macken Realty’s Denise Buckley was the selling agent on the deal.