Imitation is the sincerest form of flattery, leading the Eklund-Gomes team at Douglas Elliman to come up with its own signed contracts report covering the luxury market in Miami-Dade County.
Eklund-Gomes’ weekly luxury report mimics Donna Olshan’s Olshan Report in Manhattan. Tracking new signed contracts gives brokers and developers a sense of what’s happening in the market, something Fredrik Eklund felt was lacking in Miami as his team expands in South Florida.
The report tracks contracts for properties priced at $4 million and up in Miami-Dade, using information from the Multiple Listing Service.
Its inaugural report, covering the week of April 1 to April 7, shows 11 signed contracts for properties asking a combined $227 million. The majority of those deals (eight of them) were for single-family homes, while three were for condos.
Eklund-Gomes picked a good week to start. At the top of the report is the $132 million listing of 18 La Gorce Circle in Miami Beach. The four-parcel waterfront assemblage (16,18, 22 and 24 La Gorce Circle) is in contract to two separate buyers, the Wall Street Journal first reported and sources confirmed to The Real Deal. It was originally listed for $170 million. Danny Hertzberg, Jill Hertzberg and Jill Eber of The Jills Zeder Group at Coldwell Banker have the listing.
The second most expensive single-family home to go under contract last week is for a waterfront home at the Links Estates on Fisher Island. Dora Puig of Luxe Living Realty has the listing for the seven-bedroom, eight-and-a-half-bathroom mansion planned for 1006 Fisher Island Drive. The 10,300-square-foot home is asking $38 million.
The most expensive condo to go under contract is a five-bedroom, five-bathroom penthouse at the planned waterfront Indian Creek Residences at 9110 West Bay Harbor Drive in Bay Harbor Islands, according to the report. The 5,164-square-foot unit is asking $11.3 million. Oren Alexander and Isaac Lustgarden of Official have the listing. Jonathan Landau’s Landau Properties is the developer.
The luxury condos that went into contract last week are asking an average of $2,137 per square foot, and the units spent an average of 34 days on the market before going under contract. The homes included in the report were asking $2,250 per square foot on average, and they spent about two months on the market before going into contract, according to the report.
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