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

Miami /
Nov.November 17, 2015 02:15 PM

Sales held steady for Miami-Dade County’s overall condo market during the second week of November, though the luxury sector continued to drag its feet — with one standout closing.

Only three condos sales last week were above $1 million, two of which posted prices above $2 million. The week’s top sale blew past all of Miami-Dade’s other closings: Unit 40 at the Regalia tower in Sunny Isles Beach was sold for $9.7 million, which breaks down to $1,758 per square foot. The 40th-floor residence boasts 360-degree views of the ocean and Sunny Isles, and along with the usual luxury accouterments like modern appliances and imported stone finishes, it comes with a 2,100-square-foot wraparound terrace with its own summer kitchen. Anna Sherrill of One Sotheby’s International Realty had the listing, which closed after 271 days.

After that monster closing, the week’s next-most expensive sale was unit 1103 at the Grand Bay Tower in Key Biscayne. It sold for $3.5 million, or $1,005 per square foot, after spending only 50 days on the market with Lilia Gambogi of AG Real Estate Advisors. Some of the corner unit’s features include marble and carpet floors, custom-built mirrors and floor-to-ceiling glass windows in the living room.

The week’s final sale above $1 million belonged to Juan Carlos Gonzalez of Keller Williams. His listing for unit 518 at the Belle Plaza condo complex in Miami Beach’s Belle Isle sold for $1.1 million after 186 days on the market. The closing breaks down to $717 per square foot. The unit, originally built in 1962, was recently renovated with white limestone floors and a modernized kitchen.

Miami-Dade had 127 condo closings last week for a total of $49.44 million. Compared to the previous week, the total dollar amount is up by roughly $6 million despite 11 fewer units selling. That can be explained by a significant increase in average prices: up to $389,324, from $323,734 the previous week, and to $279 per square foot, up slightly from $278.

Here’s a breakdown of the data for the week of November 8 to November 14. Click on the map for more information:

Most expensive
Regalia, Sunny Isles Beach | $9.7M | $1.758 psf | 271 days on market | Anna Sherrill of ONE Sotheby’s International Realty

Least expensive 
Brickell Place, Brickell | $730,000 | $342 psf | 147 days on market | Jose Luis Pere of One Sotheby’s International Realty

Most days on market
Sundance Condo, South Beach | 287 days on market | $760,000 | $551 psf | Marla Rivas of Esslinger Wooten Maxwell

Least days on market
Grand Bay Tower, Key Biscayne | 50 days on market | $3.5M | $1,005 psf | Lilia Gambogi of Fortune International Realty


Related Articles

arrow_forward_ios
Deepak Khosa and the apartment complex (Cushman & Wakefield, Khosa)
Deepak Khosa nabs Homestead apartment complex for $11M
Deepak Khosa nabs Homestead apartment complex for $11M
Major Food Group partners with Michael Stern on its first branded condo tower in Miami
Major Food Group partners with Michael Stern on its first branded condo tower in Miami
Major Food Group partners with Michael Stern on its first branded condo tower in Miami
Inset: Jay Philip Parker, Alicia Cervera Lamadrid, Edgardo Defortuna
Real estate developers, brokers court Art Basel Miami Beach attendees
Real estate developers, brokers court Art Basel Miami Beach attendees
IMC Equity grabs another Hialeah office building for $15M
IMC Equity grabs another Hialeah office building for $15M
IMC Equity grabs another Hialeah office building for $15M
Diesel power: Fashion brand and partner Bel Invest launch sales for Wynwood condos
Diesel power: Fashion brand and partner Bel Invest launch sales for Wynwood condos
Diesel power: Fashion brand and partner Bel Invest launch sales for Wynwood condos
Edgardo Defortuna and Kasim Badak with renderings of the tower (Okan Tower)
Okan Tower is back: Developer relaunches sales of downtown Miami tower
Okan Tower is back: Developer relaunches sales of downtown Miami tower
Wynwood nightlife pioneer sued over $1.5M in allegedly unpaid rent
Wynwood nightlife pioneer sued over $1.5M in allegedly unpaid rent
Wynwood nightlife pioneer sued over $1.5M in allegedly unpaid rent
From left: Francisco Llado, Gil Dezer, Amir Korangy, Paulo Bacchi, Edgardo Defortuna, Jay Parker, Daniel de la Vega (Artefacto, Getty)
Is Miami’s residential architecture overplayed? No way!: TRD panel at Artefacto
Is Miami’s residential architecture overplayed? No way!: TRD panel at Artefacto
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...