The Real Deal Miami

The week in luxury: A map of Miami-Dade’s priciest condo sales

Top deal was for oceanfront unit at Jade Beach

May 24, 2016 12:45PM
By Sean Stewart-Muniz

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Without a $20 million condo to help boost its numbers, sales volume for Miami-Dade County’s condo market dipped last week despite an uptick in the number of units trading hands. One interesting note is that the week’s 10 most expensive sales were off the mainland in luxury enclaves like South Beach, Key Biscayne and Sunny Isles Beach.

The week’s priciest sale was unit 4401 at the Jade Beach tower in Sunny Isles Beach, which traded for $3.24 million. Allan Kleer of Fortune International Realty had the southeastern corner unit on the market for 427 days before it closed. With four bedrooms, five bathrooms and 2,871 square feet, its closing price breaks down to $836 per square foot. The unit boasts ocean views, contemporary style like white-glass floors and Italian light fixtures, and a custom built-in entertainment center.

Not far behind that sale was unit 1004 at the Grand Bay Tower in Key Biscayne. The three-bedroom, three-and-a-half-bathroom unit sold for $3.1 million, or about $842 per square foot. Judith Zeder of Esslinger Wooten Maxwell had the unit on the market for 342 days before it closed. Its features include ocean views, a private elevator and two balconies.

And last week’s third-priciest deal was the $2.5 million sale of unit 1202 in South Beach’s Portofino Tower. After spending 157 days on the market with Lisa Van Wagenen of Brown Harris Stevens | Zilbert, the two-bedroom, two-and-a-half-bathroom condo closed for $1,225 per square foot. It’s a flow-through unit with balconies on the building’s eastern and western exposures, along with white glass marble floors and 10-foot ceilings.

After those top three sales, the week’s remaining seven most-expensive deals ranged in price from $2.29 million to $1 million. Last week marks the second week in a row that all 10 sales were above $1 million.

Miami-Dade saw 158 condo sales last week for a total of $59.49 million. Though that’s 22 more units than what was sold the previous week, sales volume still dropped by roughly $10 million. That’s likely because the previous week’s numbers were propped up by attorney Jim Ferraro’s massive $21.5 million closing at Palazzo del Sol. Average prices were $376,548 per unit and $286 per square foot.

Here’s a breakdown of the data for the week of May 15 to May 21. Click on the map for more information: CondosandProperty_Updated

Most expensive
Jade Beach #4401, Sunny Isles Beach | $3.24M | $836 psf | 427 days on market | Allan Kleer of Fortune International Realty

Least expensive 
Trump Towers III #4305, Sunny Isles Beach | $1M | $683 psf | 113 days on market | Elena Chacon of Esslinger Wooten Maxwell

Most days on market
Jade Beach #4401, Sunny Isles Beach | 427 days on market | $3.24M | $836 psf | Allan Kleer of Fortune International Realty

Least days on market
Commodore Club West #607, Key Biscayne | 62 days on market | $1.1M | $1,229 psf | Maria-Elda Castaneda of Castaneda & Associates