Jay-Z and Beyonce checked out Ricky Martin’s 9,491-square-foot mansion while home shopping in Miami Beach, TMZ reported.
The oceanfront home, located at 5130 North Bay Road, has seven bedrooms, 10 bathrooms, a pool — and a $12.5 million asking price.
Martin purchased the home for $10 million in 2005 and put it on the market last November with Esslinger-Wooten-Maxwell broker Pablo Alfaro. [more]
The first quarter of 2011 might be Miami’s strongest three-month period since the housing bubble popped. After the last six months of 2010 saw a cooling down after federal tax stimuli expired, inventory of both single-family homes and condominium units is falling dramatically. “The market is ‘en fuego,’” meaning “on fire,” said Nelson Gonzalez, a senior vice president at Esslinger-Wooten Maxwell in Miami Beach. “I’m working seven days a week.” Gonzalez said there was no comparison between the activity he saw in the first three months of 2010 and the same period this year. “How do I compare a snail with a cheetah?” He said.
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The South Florida home to see the biggest price cut today is a five-bedroom, eight-bathroom house at 3200 Granada Boulevard in Coral Gables, according to data from Condo Vultures Realty. The $4.2 million Miami-Dade County home saw a $500,000, or 11 percent, price cut. It was originally listed for $5.2 million when it hit the market in August 2010. The price was last cut to $4.7 million in October 2010. The 7,649-square-foot home sits on a 19,000-square-foot lot on the Biltmore Golf course. Mercedes Saewitz of Esslinger Wooten Maxwell has the listing. (Condo Vultures data includes condos and single-family home listings in the main metropolitan areas of Miami, Fort Lauderdale, West Palm Beach and Key West that are priced at $1 million and above, and that include photographs. Listings are taken from the South Florida MLS.) TRD
The South Florida home to see the biggest price cut today is a five-bedroom, three-bathroom house at 9056 Bay Drive in Surfside, according to data from Condo Vultures Realty. The $1.8 million Miami-Dade County home saw a $500,000, or 22 percent, price cut. It was originally listed for $2.3 million when it hit the market in October 2010. The 2,350-square-foot, waterfront home sits on a 9,250-square-foot lot. Jeffrey Cohen of Esslinger-Wooten-Maxwell has the listing. (Condo Vultures data includes condos and single-family home listings in the main metropolitan areas of Miami, Fort Lauderdale, West Palm Beach and Key West that are priced at $1 million and above, and that include photographs. Listings are taken from the South Florida MLS.) TRD
The owner of Cher’s former La Gorce Island estate has slashed his asking price by another 11 percent in an attempt to take advantage of a perceived burst in activity in the Miami Beach luxury market, even though it means he’ll probably lose money on the deal.
The 11,460-square-foot mansion, which Cher rebuilt and sold in the 1990s, is now up for grabs for $10.2 million. It last changed hands for $9.7 million in 2006, when former Calvin Klein CEO Barry Schwartz sold it to developer Todd Glaser and investor Armin Mattli, who gave the property around $1 million worth of upgrades before relisting it for $16.9 million in 2008.
It’s been on and off the market since then, with celebrities like Janet Jackson and Julio Iglesias each taking a turn as tenants, but was most recently listed for $11.5 million in July. [more]
The South Florida home to see the biggest price cut today is a six-bedroom, six-bathroom condominium unit, #PH4905, in the Jade Beach condominium at 17001 Collins Avenue in Sunny Isles, according to data from Condo Vultures Realty. The $10.9 million Miami-Dade County home saw a $500,000, or 4 percent, price cut. It was originally listed for $11.4 million when it hit the market in August 2010. The 8,210-square-foot triplex penthouse has balcony space overlooking the ocean and an interior elevator. Marci Trautenberg of Esslinger Wooten Maxwell has the listing. (Condo Vultures data includes condos and single-family home listings in the main metropolitan areas of Miami, Fort Lauderdale, West Palm Beach and Key West that are priced at $1 million and above, and that include photographs. Listings are taken from the South Florida MLS.) TRD
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The South Florida home to see the biggest price cut today is an eight-bedroom, nine-bathroom house at at 4411 Pine Tree Drive in Miami Beach, according to data from Condo Vultures Realty. The $7.9 million Miami-Dade County home saw a $1 million, or 11 percent, price cut. It was originally listed for $9.9 million when it hit the market in December 2009. The price was last cut to $8.9 million in May 2010. The 11,878-square-foot waterfront home sits on a 39,000-square-foot lot and has a pool, terraces, fountains and private guest and staff houses. Nelson Gonzalez of Esslinger-Wooten-Maxwell has the listing. (Condo Vultures data includes condos and single-family home listings in the main metropolitan areas of Miami, Fort Lauderdale, West Palm Beach and Key West that are priced at $1 million and above, and that include photographs. Listings are taken from the South Florida MLS.) TRD
The South Florida home to see the biggest price cut today is a five-bedroom, five-and-two-half-bathroom house at 10705 Snapper Creek Road in Coral Gables, according to data from Condo Vultures Realty. The $9.75 million Miami-Dade County home saw a $750,000, or 7 percent, price cut. It was originally listed for $10.5 million when it hit the market in July. The 9,440-square-foot house sits on a 70,132-square-foot lakefront lot and has a wine cellar, gardens, a pool and a patio. Judith Zeder of Esslinger-Wooten-Maxwell has the listing. (Condo Vultures data includes condos and single-family home listings in the main metropolitan areas of Miami, Fort Lauderdale, West Palm Beach and Key West that are priced at $1 million and above, and that include photographs. Listings are taken from the South Florida MLS.) TRD
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The South Florida home to see the biggest price cut today is a seven-bedroom, eight-bathroom house at 5228 Oak Lane in Coral Gables, according to data from Condo Vultures Realty. The $8.9 million Miami-Dade County home saw a $700,000, or 7 percent, price cut. It was originally listed for $9.6 million when it hit the market in November. The 11,223-square-foot house sits on a 50,965-square-foot lot and has a gym, wine cellar, elevator and pool. Audrey Ross of Esslinger-Wooten-Maxwell has the listing. (Condo Vultures data includes condos and single-family home listings in the main metropolitan areas of Miami, Fort Lauderdale, West Palm Beach and Key West that are priced at $1 million and above, and that include photographs. Listings are taken from the South Florida MLS.) TRD
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The South Florida home to see the biggest price cut today is a five-bedroom, five-bathroom home at 3885 S. Moorings Court in Coconut Grove, according to data from Condo Vultures Realty. The $2.9 million Miami-Dade County home saw a $600,000, or 17 percent, price cut. It was originally listed for $3.5 million when it hit the market in November 2009. The 6,288-square-foot home sits on an 11,800-square-foot lot that has two fireplaces, a pool and spa. Audrey Ross of Esslinger-Wooten-Maxwell has the listing. (Condo Vultures data includes condos and single-family home listings in the main metropolitan areas of Miami, Fort Lauderdale, West Palm Beach and Key West that are priced at $1 million and above, and that include photographs. Listings are taken from the South Florida MLS.) TRD
