The Real Deal Miami

“A relatively blah year” for Miami Beach waterfront home sales

January 10, 2011 04:49PM

Miami Beach’s waterfront residential real estate saw modest improvements in both transaction volume and prices last year, according to One Sotheby’s International Realty broker Kevin Tomlinson’s annual report, out today. With 2010 sales up to 51, from 42 in 2009, and prices at an average of $710 per square foot, up from $702 per square foot in 2009, it was “a relatively blah year — though some brokers are saying otherwise,” Tomlinson wrote. The North Bay Road area, he said, “continued to shine as the BMOC” (meaning Big Man On Campus), with 11 waterfront home sales to stars like Chris Bosch, Dwyane Wade and Alex Rodriguez. But Venetian Islands actually had more volume, with 13, albeit less high-profile, sales. Meanwhile, Sunset Islands struggled with just two waterfront homes trading hands last year, which “basically sold for land value,” Tomlinson said. La Gorce Island took the title for priciest sale of the year, with the $16 million sale of 88 La Gorce Circle in June. [South Beach Condo Blog]