“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.
Don’t look now, but your Miami Marlins are right in the thick of the National League playoff chase, fighting for a wild card spot. It may not seem that impressive, until you remember that both the 1997 and 2003 World Series-winning (then “Florida”) Marlins were also wild card teams, so anything is possible.
While the franchise is enjoying consistent on-field success for the first time in years, its business and real estate ventures continue to be largely “hit or miss,” particularly with respect to its eponymous, taxpayer-funded ballpark in Little Havana. Will a playoff run finally fill the seats Marlins Park, or will baseball remain a distant third in an increasingly football and basketball town? Let’s take a look in this Miami Marlins and baseball edition of “South Florida by the numbers.”
Less than $150: Average resale price per-square-foot of single family homes in the Marlins Park neighborhood (essentially the Miami River south to Flagler Street and Northwest Eighth Avenue west to Northwest 22nd Avenue) in 2016, one of many dismal numbers that illustrate the park’s failure to make a positive real estate impact since being opened five years ago. [MiamiHerald]
$2,910,142.13: Amount of settlement provided by AIG Specialty Insurance Co. to the Marlins, Miami-Dade County, and the City of Miami for a disputed environmental claim over ballpark construction. While the Marlins and their affiliates originally filed a $5.6 million claim, the end result was a major improvement over the $535,142.13 the insurance company originally agreed to pay in 2012, before the parties mediated their dispute. The agreement distributed 73.3 percent of the proceeds to the ballpark and 26.7 percent to the county and city. [MiamiToday]
14,000: Square footage leased by Wellmax Medical Center at Marlins Park in February 2016, representing half of the available city-owned commercial space at the stadium. The $3 million lease is at the ground floor of the stadium. [SFBJ]
$1.8 million: Original asking price for Miami home owned by team super fan Laurence Leavy, better known as “Marlins Man” and recognized for the bright orange team gear he wears to big sporting events around the country. The home, which has since been pulled off the market, is a “fixer-upper” in need of anywhere between $350,000 and $600,000 in renovations, according to his listing agent. [Realtor.com]
11,000: Square footage of New York Yankee (to retire on Friday) and Miami baseball icon Alex Rodriguez’s Coral Gables home, recently featured in Architectural Digest. The profile of the residence mentions the slugger’s desire for a long-term home for his daughters and himself, as well as his affinity for modern art and his enjoyment in hosting large gatherings. [ArchitecturalDigest]
This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior.