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Pending sale of $28M waterfront home on North Bay Road tops slow week in Miami-Dade
Buyers signed just five contracts for homes, condos priced at $4M and up last week
From left: A photo illustration of Jills Zeder Group’s Danny Hertzberg and Florida Brokers Real Estate’s Fernando Villagran along with 5310 North Bay Road (left) and the Jade Signature at 16901 Collins Avenue (right) (Getty, Florida Brokers Real Estate, Jills Zeder Group, Google Maps)
A renovated waterfront home in Miami Beach asking $27.5 million was the priciest residential property to enter into contract last week in Miami-Dade County.
The 8,540-square-foot, six-bedroom, eight-and-a-half-bathroom mansion at 5310 North Bay Road was one of five residential properties asking $4 million and up to secure buyers during the week of July 15 to July 21, according to the Eklund-Gomes signed contracts report. It tracks new deals recorded on the Multiple Listing Service.
That marks a drop in activity compared to the previous week, during the slower summer season.
Danny Hertzberg of The Jills Zeder Group at Coldwell Banker is listing the North Bay Road property. A company that includes spec home developer Francisco Perez paid $13.6 million for the home in 2021.
The most expensive condo contract signed last week was for unit 1405 at Jade Signature, a waterfront condo tower at 16901 Collins Avenue in Sunny Isles Beach. The 3,024-square-foot, four-bedroom, five-and-a-half-bathroom unit is asking just shy of $5 million. Fernando Villagran of Florida Brokers Real Estate has the listing.
The five properties to enter into contract are asking a combined $53.4 million, less than the total of week before. Three are single-family homes, asking $44 million combined, and two are condos, together asking about $9.5 million.
The single-family homes averaged 150 days on the market, and an average price of $14.7 million.
The condos spent about 50 days on the market on average before entering into contract. The units have an average price of nearly $4.8 million, or about $1,400 per square foot.
The previous week, buyers signed contracts for 10 homes and condos in Miami-Dade County, asking a combined $113 million.
Eklund-Gomes’ report, based on pending deals recorded on the Multiple Listing Service, is modeled after the Olshan report that tracks new deals in Manhattan. Last week in New York, buyers signed contracts for 20 homes, according to the latest Olshan report. Their combined asking price was $181 million, and the typical home spent 590 days on the market.
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