A waterfront mansion on the market for $26.5 million in Key Biscayne secured a buyer, topping last week’s signed residential contracts report in Miami-Dade County.
The 8,031-square-foot, six-bedroom home at 180 Cape Florida Drive is on the market with Coldwell Banker agent Joan McCaughan. Property records show it’s owned by the prominent Stearns family of the law firm Stearns Weaver Miller. Trial attorney and board chairman Gene Stearns, his wife Diana, and their daughter Jennifer Stearns Buttrick and her husband Matthew Buttrick own the 0.4-acre property. Gene and Diana Stearns paid $450,000 for it in 1981.
A new mansion on the property, built in 2018, includes a boat lift, dock, full house generator, custom kitchen, wine cellar and laundry rooms on both levels. Gene and Diana Stearns have owned a separate waterfront home in Key Biscayne since 2007, records show.
The pending sale of 180 Cape Florida Drive in Key Biscayne is one of nine contracts marked in the Multiple Listing Service between Sept. 30 and Oct. 6, according to the Eklund-Gomes signed contracts report, which tracks listings of properties asking $4 million and up in Miami-Dade County.
The asking dollar volume for the seven single-family homes and two condos totals more than $76.6 million, according to the report.
The second most expensive home to enter into contract is the non-waterfront spec estate at 9601 Southwest 67th Avenue in Pinecrest. It’s asking $12 million with One Sotheby’s International Realty agent Michael Martinez. Ultimate Construction Management Services of Miami owns the 1.1-acre mansion.
The priciest luxury condo included in the report is unit 1405 at Jade Signature, 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. It previously went into contract this summer, but that deal fell through, according to the MLS.
The single-family homes that entered into contract last week had an average asking price of about $9.5 million and spent 177 days on the market. They totaled $66.6 million in asking dollar volume.
The condos had a combined asking price of $9.9 million and spent about 95 days on the market. They averaged about $1,324 per square foot.
The previous week, buyers signed contracts for 11 properties in Miami-Dade County, asking a combined $142.6 million.
Last week in New York, buyers signed contracts for 30 homes, according to the latest Olshan report. Their combined asking price was $237.3 million, and the typical home spent 540 days on the market. Eklund-Gomes’ reports are modeled after Donna Olshan’s report that tracks new deals in Manhattan.
Read more
Residential
South Florida
Pending sale of $28M waterfront home on North Bay Road tops slow week in Miami-Dade