An automotive executive found a buyer for his waterfront Miami Beach home asking $18.1 million, which topped last week’s signed contracts report.
Property records show Stefan Demmerle, president and general manager of BorgWarner’s PowerDrive Systems, owns a 5,400-square-foot, five-bedroom house on North Shore Drive.
The property, in the Normandy Shores neighborhood, is on the market with Compass agent Todd Nordstrom and John Bowes with LoKation Real Estate. The house sits on a third of an acre and was completed this year. It includes a cabana, heated saltwater pool and spa, a wine cooler, elevator and EV car charging.
The pending sale is one of 11 contracts marked in the Multiple Listing Service between Oct. 28 and Nov. 3, according to the Eklund-Gomes report, which tracks listings of properties asking $4 million and up in Miami-Dade.
The asking dollar volume for the eight single-family homes and three condos totals $98 million, according to the report. The sales activity is similar to that of recent weeks.
The single-family homes that entered into contract last week had an average asking price of about $9.4 million and spent an average of 146 days on the market. They totaled $75.4 million in asking dollar volume.
The condos had a combined asking price of $22.4 million and spent an average of about 94 days on the market. They averaged nearly $2,744 per square foot.
The top condo contract was for a unit at Mr. C Residences, a recently completed condo project in Coconut Grove. Unit 1702-06, with five bedrooms, four and a half bathrooms and 3,636 square feet, is asking $9.8 million with Terrence Brewer of Grove Real Estate, Title and Legal Services.
The previous week, buyers signed contracts for 11 properties in Miami-Dade County, asking a combined $88.1 million.
Last week in New York, buyers signed contracts for 26 homes, according to the latest Olshan report. Their combined asking price was $168.6 million, and the typical home spent 680 days on the market. Eklund-Gomes’ reports are modeled after Donna Olshan’s report that tracks new deals in Manhattan.
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