A heated real estate market is fueling another boom in South Florida, with more than 120 projects underway in Greater Miami, broker Oren Alexander said on television to Fox Business.
Like its basketball and weather, Miami’s real estate market is ablaze, he said.
“On the high end specifically, we have all of the whole world’s wealth out here trying to vy for a handful of properties,” Alexander said.
The 20-something Douglas Elliman broker and Miami Beach native sold Miami’s most expensive mansion for $47 million last August, as The Real Deal reported.
Another height was reached when a condo sold for $34 million, a Florida state record.
“Miami was one of the hardest hit areas during the recession. Since then, we’ve grown tremendously. We have an influx of cultural centers, of restaurants, infrastructure. Today Miami has to be one of the hottest destinations in the world,” Alexander said.
The young broker works with his father and his older brother, Tal, in Miami and New York. His twin works in securities.
The $47-million single-family home in the Indian Creek section of Miami Beach, designed by Miami architect Rene Gonzalez, was assessed at $7.2 million at the time of the sale, according to the County Property Appraiser’s office. [Fox Business] –Emily Schmall