Bal Harbour penthouse featured on “Real Housewives”  trades for $4.9 million

Majestic Tower prices sees impact of nearby St. Regis
By Alexander Britell | December 05, 2012 10:30AM

Majestic Tower

A penthouse at the Majestic Tower condominium in Bal Harbour has sold for $4.9 million, The Real Deal has learned. The property, which has been featured several times on the Bravo series “The Real Housewives of New York,” was purchased by a buyer from Argentina. It had been owned by George Teichner, the father of “Real Housewives”  personality Aviva Drescher.

In 1999, Teichner paid $927,0000 for the four-bedroom, four-bathroom unit, which is located at 9601 Collins Avenue, #204.

“Prices have increased dramatically,” Sheryl Goldberg of Engel and Voelkers, who had the listing on the unit, told The Real Deal.

Goldberg said she had seen price jumps of around 20 percent in the building from a year ago. The unit had been listed at $4.95 million.

Bal Harbour has been experiencing a price surge, as buyers are increasingly looking to areas further north in Miami-Dade County. And brokers say it’s the nearby St. Regis Bal Harbour, which officially opened its doors this year, that is pushing prices north.

In July, the St. Regis Bal Harbour was the scene of a $24.6 million purchase of a combined five-unit bloc, first reported by The Real Deal.