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

Miami /
Jun.June 06, 2016 02:15 PM

A new month breathed new live into Miami-Dade County’s condo market, though it might be short lived. Sales volume spiked upward last week, buoyed by a major new development sale in Miami Beach and a well-rounded collection of million-dollar closings.

The week was led by the massive $14 million sale of Beach House 8’s penthouse to Brazilian entrepreneur Mario Garnero — the first unit to close at Ugo Colombo and Valerio Morabito’s newly built boutique condominium in Mid-Beach. With five bedrooms, five bathrooms and 5,242 interior square feet, the duplex penthouse’s purchase price breaks down to nearly $2,671 per square foot. Besides it plush interior finishes, the condo also boasts 4,794 square feet of terraces and its own private pool. Daniela Bonetti of One Sotheby’s International Realty brokered the deal.

New development condo sales aren’t typically entered into the MLS, though developers sometimes enter a sampling of them onto the listing service. When they do hit the MLS, they usually give a big boost to the county’s aggregate sales numbers.

In last week’s No. 2 spot was Nelson Gonzalez’s $4.65 million closing of unit 2105 at Jade Ocean in Sunny Isles Beach. The five-bedroom, seven-bathroom unit spent a whopping 705 days on the market and suffered several price chops from its original $8.79 million ask before closing at $1,202 per square foot. Its features include white-and-black decor, ocean views and modern appliances.

Following that deal was a $2.375 million sale at the Trump Palace in Sunny Isles Beach that closed after a little over two months. Unit 3709, listed by Cristina Palomo-Preble of Riteway Properties III, sold for $1,109 per square foot after 76 days on the market. Just like the Jade Ocean unit from last week, this three-bedroom, four-bathroom residence boasts ocean views and luxury finishes — though with a smattering of dark hardwood floors as well.

After those top three deals, the week’s remaining seven most-expensive closings ranged between $1.58 million to $1.1 million.

Miami-Dade saw 166 condo sales last month for a total of $73.8 million. That’s a big spike over the previous week’s $57.38 million sales volume, despite four fewer condos trading. As we mentioned before, that’s mostly thanks to the closing from the newly opened Beach House 8 development. Average prices were $444,540 per unit and $285 per square foot.

Here’s a breakdown of the data for the week of May 29 to June 4. Click on the map for more information:

Most expensive
Beach House 8 #PH, Miami Beach | $14M | $2,670 per square foot | Daniela Bonetti of One Sotheby’s International Realty

Least expensive 
L’Excellence #2006, Miami Beach | $1.228M | $620 psf | 52 days on market | Barry Roth of Koslovsky Realty

Most days on market
Jade Ocean #2105, Sunny Isles Beach | 703 days on market | $4.65M | $1,202 psf | Nelson Gonzalez of Esslinger Wooten Maxwell

Least days on market
L’Excellence #2006, Miami Beach | 52 days on market | $1.228M | $620 psf | Barry Roth of Koslovsky Realty


Related Articles

arrow_forward_ios
From left: Vladislav “Bobby” Yampolsky and Robert P. Kelly along with an aerial view of 419 East Coconut Palm Road (Getty Images, Google Maps)
Luxury retailer buys waterfront Boca Raton home for $9M
Luxury retailer buys waterfront Boca Raton home for $9M
Randy Walker with 60 Edgewater Drive (ExCo Group, Brown Harris Stevens)
Gables Club developer Marc Kovens sells his penthouse
Gables Club developer Marc Kovens sells his penthouse
John Howard Kunkel with 1030 Stillwater Drive (LinkedIn, Google Maps)
50 Eggs restaurateur John Kunkel buys waterfront Miami Beach home
50 Eggs restaurateur John Kunkel buys waterfront Miami Beach home
11733 Valeros Court in Palm Beach Gardens with PharmaCord's Nitin Sahney (Google Maps, LinkedIn, Getty)
Healthcare CEO buys Palm Beach Gardens house for $8.8M
Healthcare CEO buys Palm Beach Gardens house for $8.8M
FleetCor Technologies' Ronald Clarke and 194 Spyglass Court (Ceridian, Google Maps)
Billionaire CEO buys waterfront next-door Jupiter mansion
Billionaire CEO buys waterfront next-door Jupiter mansion
Fischer & Co's Cliff Fischer with 100 Royal Palm Way PH-1
Cliff Fischer buys oceanfront Palm Beach penthouse for $15M
Cliff Fischer buys oceanfront Palm Beach penthouse for $15M
Charles Dana and George Wieger with 170 Seagate Road (College of Charleston, Getty Images, Google Maps)
Colorado private equity boss buys Palm Beach home from Dana heir
Colorado private equity boss buys Palm Beach home from Dana heir
Sharon Gustafson, Laurent Ouazana and 3916 Country Club Lane (Facebook/Sharon Gustafson, Twitter/@hellolab, Susan Rindley with One Sotheby’s International Realty, Getty)
French insurance CEO buys Fort Lauderdale estate
French insurance CEO buys Fort Lauderdale estate
arrow_forward_ios

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

Loading...