$45M Hibiscus Island mansion tops luxe signed contracts report

The $45 million listing of a waterfront Miami Beach mansion topped last week’s signed contracts report, making it the most expensive property to go under contract in Miami-Dade County since April. 

The 10,800-square-foot seven-bedroom, eight-and-a-half-bathroom house at 101 North Hibiscus Drive is listed with Jill Hertzberg of The Jills Zeder Group at Coldwell Banker. 

The half-acre property, owned by an LLC, was developed in 2016. It includes a service wing with a staff apartment, a 50-foot heated pool, private dock and rooftop space with a spa and outdoor shower, according to the listing. 

It was one of six residential properties asking $4 million and up to secure buyers during the week of July 22 to July 28, according to the Eklund-Gomes signed contracts report, authored by the Douglas Elliman team. 

The most expensive condo contract signed last week was for unit 3205 at 100 South Pointe Drive in Miami Beach. The two-bedroom, two-and-a-half-bathroom condo spans 1,900 square feet. It’s on the market for nearly $6 million, or about $3,200 per square foot. Eddy Martinez and Roland Ortiz of One Sotheby’s International Realty have the listing. The Continuum condo previously sold for $5.2 million in April, which means the buyer may be flipping it for a profit.

The contracts signed last week are for properties asking a combined $73 million, an increase compared to the previous week. Two are for single-family homes, together asking $50.3 million, and four are for condos asking a combined $22.8 million. 

The single-family homes averaged 94 days on the market, and an average price of $25 million.

The condos spent about 88 days on the market on average before entering into contract. The units have an average price of nearly $5.7 million, or about $2,000 per square foot. 

The previous week, buyers signed contracts for five homes and condos in Miami-Dade County, asking a combined $53.4 million.

Eklund-Gomes’ report, based on pending deals recorded on the Multiple Listing Service, is modeled after Donna Olshan’s report that tracks new deals in Manhattan. Last week in New York, buyers signed contracts for 23 homes, according to the latest Olshan report. Their combined asking price was $157.5 million, and the typical home spent 567 days on the market.