South Florida by the numbers: Prices rising

“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.

As the saying goes, records are meant to be broken. (Especially in residential real estate, where the compass usually points north all the time.) But the sheer flurry of “highest priced on the market” and price-shattering South Florida home sales over the past two years has been extraordinary, even taking into account the relentless degree of demand and barren level of inventory. In many ways, the luxury sector is its own arena, and the players typically get exactly what they want. We examine the trend of big-ticket home sales in this edition of “South Florida by the numbers.”

$188 million

Asking price of Tarpon Isle (a 2.3 acre man-made estate in Palm Beach that went into contract this week), making it the highest priced home in that market and No. 2 in Florida. The final sale price and buyer are unknown at the time of this writing. The 11-bedroom, 15-bathroom compound has been on and off the market multiple times since it was purchased by noted spec home developer Todd Michael Glaser and several partners for $85 million in 2021. [TheRealDeal]

$120 million (plus)

Reported sale price of a penthouse at the planned Shore Club, an Auberge Resorts Collection-branded condo-hotel project in Miami Beach, which would set a condo price record in Miami-Dade County, if and when it closes (once the development is completed, which is expected in 2026). The 10,500-square-foot penthouse will have about 7,500 square feet of terraces and its own rooftop pool. [TheRealDeal]

$107 million

Sale price of Adrienne Arsht’s waterfront estate in 2022, purchased by hedge fund billionaire Ken Griffin. (Master Brokers Forum member Ashley Cusack represented Arsht in the sale, which set a price record for single-family home sales in Miami-Dade County.) Griffin, who has famously moved his family and companies to South Florida, is worth more than $26 billion, according to Forbes. [TheRealDeal]

$45 million

Sale price of a waterfront North Bay Road property, currently under contract by billionaire media tycoon Barry Diller. The seller is Related Companies President Bruce Beal, Jr., and the price would make it a record for waterfront North Bay Road properties. (Beal tore the previous home at 5930 North Bay Road down after buying it for $18.5 million in 2018.) [TheRealDeal]

$14 million

Sale price of local billionaire Jorge Mas and his wife’s Pinecrest estate, marking a record for the Miami-Dade County town. In this unusual deal, the buyer was the village of Pinecrest itself, which plans to use the 5-acre property at 11855 Southwest 60th Road as a park and indoor facility. (Mas, a majority owner of Miami’s Major League Soccer team, Inter Miami, is donating $3.9 million back to the municipality in exchange for naming rights, as the park will be named after Mas’ wife, Aleyda Mas.) [TheRealDeal]

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.