The Real Deal Miami

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

Top deal was for newly-built oceanfront unit in Miami Beach

June 27, 2016 05:15PM
By Sean Stewart-Muniz

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Talk about a blowout week for Miami-Dade County’s condo market. More than $90 million in sales were recorded last week, marking the county’s best seven-day stretch so far this year. Taking credit for that explosion in volume is a handful of high-priced celebrity and developer units that dominated the list of Miami-Dade’s priciest condo sales.

At the top of the list was a duplex unit at Ugo Colombo and Valerio Morabito’s newly built boutique Miami Beach condo building called Beach House 8. The two were bought by an anonymous offshore entity for $13.125 million, or about $1,734 per square foot. The two units are stacked on top of each other at the 10-story building and together house eight bedrooms, eight bathrooms and a little over 2,000 square feet of terraces. ONE Sotheby’s International Realty is handling sales for the project.

Following that sale was a much happier tale: famed singer-songwriter Pharrell Williams finally offloaded his pad at the Bristol Tower in Miami for $9.25 million. The glitzy penthouse has hopped on and off the market since 2012 with an original ask of $16.8 million. Boasting a Pininfirina-designed kitchen, teak hardwood floors and pop-art that Williams picked out himself, the unit fetched $539 per square foot after spending 233 days on the market with Dora Puig of Luxe Living Realty.

And last week’s third-priciest deal was for a condo at the Continuum South Tower in South Beach. Unit 3203, which has three bedrooms and bathrooms, sold for $8 million after sitting on the market for 94 days. The unit was “priced to move,” according to its listing with Christian Parth of Parinvest LLC, fetching about $2,398 per square foot. Its features include ocean views, marble floors and modern finishes.

After those top three deals, the county’s remaining seven most-expensive condo trades ranged from $6.4 million to $1.875 million.

Miami-Dade saw 141 condos sell last week for a total of $91.85 million. Though the previous week only saw four fewer sales, its sales volume of $45 million was totally eclipsed. Average prices were $651,484 per unit and $320 per square foot.

Here’s a breakdown of the data for the week of June 19 to June 25. Click on the map for more information: CondosandProperty_Updated

Most expensive
Murano at Portofino unit 2202, South Beach | 226 days on market | $4M | $1,527 psf | Vincent Pinto of RelatedISG

Least expensive 
Commodore Club South unit 812, Key Biscayne | 134 days on market | $775,000 | $615 psf | Linda Chehab of Fortune International Realty

Most days on market
Gables Club Tower ph17c, Coral Gables | 440 days on market | $2.1M | $677 psf | Helen Nicastri of Coldwell Banker

Least days on market
Oak Lane unit 7471, Miami | 46 days on market | $1.15M | $393 psf | Monica Betancourt of Esslinger Wooten Maxwell