The temperature wasn’t the only thing heating up in Miami-Dade County last week: sales volume for the county’s condo market spiked up in a big way, and a handful of unit closings blew past the $1 million market.
The week’s priciest deal by far was for an $11.3 million unit at the Oceanside condo complex on Fisher Island. Unit 7872, with its three bedrooms, three bathrooms and water views, fetched a whopping $2,461 per square foot. It was snapped up after only 73 days on the market by Joseph Reich and his wife Carol, according to a report in the South Florida Business Journal. Reich co-founded Reich & Tang, an investment firm headquartered on Wall Street. Lazaro Rivero of Rivero Real Estate was the listing agent.
The No. 2 spot was no slouch, either: unit 15AC at the Gables Club in Coral Gables sold for $4.6 million, or about $613 per square foot, after spending 319 days up for sale. The four-bedroom, four-bathroom unit boasts views of Biscayne Bay and two private elevators. Mauricio Barba of One Sotheby’s International Realty had the listing. On the buyer’s side, Avatar sales associate Allison Blumenthal handled the sale.
And the week’s third-most expensive deal was for unit 808 at the Continuum South Tower in South Beach. John Lennon of South Pointe Drive Realty had the two-bedroom, two-bathroom residence on the market for 283 days before it closed at $2.9 million, or about $1,650 per square foot. Its features include wood floors, ocean views, contemporary design and a private elevator entrance.
After those top three sales, the rest of Miami-Dade’s top 10 deals ranged from $2.65 million to $860,000.
The county as a whole had a whopping 205 closings last week for a total of $78 million. That’s a big improvement over the past month, which stagnated between $30 million and $40 million. Average prices were $380,516 per unit and $283 per square foot.
Oceanside, Fisher Island | $11.3M | $2461 psf | 73 days on market | Lazaro Rivero of Rivero Real Estate
Bentley Bay, South Beach | $860,000 | $812 psf | 133 days on market | Eric Seder of Envision Realty
Most days on market
Riva Bay Harbor, Bay Harbor Islands | 653 days on market | $1.45M | $617 psf | Dora Puig of Luxe Living Realty
Least days on market
Acqualina, Sunny Isles Beach | 52 days on market | $2.65M | $1,196 psf | Marla Cohen of Acqualina Realty
Correction: A previous version of this story had an incorrect unit number for the condo on Fisher Island.