Miami-Dade County’s condo market seems to have finally gotten over its holiday slump: sales volume was up last week, and all but one of the county’s top 10 most expensive sales topped $1 million.
The week was led by a $5 million residence at the Continuum North Tower in South Beach. But this is no condo — Townhouse 1, one of the condo complex’s few three-story townhouses up for grabs, sold for a sizable $1,956 per square foot. Giorgio Vecchi of Brown Harris Stevens | Zilbert had the listing for about 90 days before closing. It’s a three-bedroom, three-bathroom residence with modern style and a rooftop Jacuzzi.
Following close behind was the $4.005 million sale of Penthouse 4605 at the Jade Residences condo tower in Brickell. It’s a unit with some celebrity history: Luis Miguel, the smoldering Mexican singer, used to be its owner. Most recently, an investor from Monaco had put it up for sale at $4.2 million with Allan Kleer of Fortune International Realty. It closed last week for $940 per square foot after 309 days on the market. Its notable features include wide open spaces, ocean views, European-style kitchen and 14-foot ceilings.
The week’s third-most expensive sale — and its last multimillion-dollar one — was unit #5B at the Belle Towers in Miami Beach. William Hahne of Hahne Real Estate had it listed on the market for only 56 days before it closed at $2.15 million, or about $1,220 per square foot. The two-bedroom, two-and-a-half bathroom unit boasts views of Biscayne Bay, crown molding and wood flooring.
After those top three sales, the week’s other seven priciest closings ranged between $1.705 million and $998,500 — a marked improvement in price over previous weeks.
Miami-Dade as a whole saw 116 condo transactions last week for a total of $46.788 million. The previous week had only 81 sales for $29.1 million. Average prices were $403,344 per unit and $292 per square foot.
Continuum North Tower, South Beach | $5M | $1.956 psf | 92 days on market | Giorgio Vecchi of Brown Harris Stevens Zilbert
Segovia Tower, Coral Gables | $998,500 | $252 psf | 228 days on market | Michael Martinez of One Sotheby’s International Realty
Most days on market
Jade Residences, Brickell | 389 days on market | $4.005M | $940 psf | Allan Kleer of Fortune International Realty
Least days on market
1 Hotel & Homes, Miami Beach | 28 days on market | $1.57M | $1,570 psf | Harlan Goldberg of Douglas Elliman