Supercar Owner Finds Buyer for Miami Beach Condo

A waterfront home on Miami Beach’s Sunset Islands asking $24.5 million secured a buyer, capping an active week for luxury home contracts.

The pending sale tops last week’s Eklund-Gomes report, which tracks listings of homes and condos asking $4 million and up in Miami-Dade County that are included in the Multiple Listing Service. Buyers signed 24 contracts between April 21 and April 27. The properties spent about 113 days on the market, on average.

Thirty-two luxury listings were added to the market, for a total of 1,351 listings.

The asking dollar volume for the 16 single-family homes and eight condos under contract last week totals $189.6 million, according to the report, which is authored by the Douglas Elliman team led by Fredrik Eklund and John Gomes.

At the top of the report is the five-bedroom, six-and-a-half-bathroom house at 1425 West 27th Street on Sunset Island II. The 5,848-square-foot home, on a half-acre lot, was recently renovated by homebuilder Bart Reines, according to the listing. It’s on the market with Jason Zarco of Berkshire Hathaway HomeServices EWM Realty. It last sold in 2008 for $5.7 million. The house was built in 1939.

The single-family homes that entered into contract last week had an average asking price of $8.5 million and spent an average of 100 days on the market. They totaled $135.4 million in asking dollar volume.

The condos that secured buyers last week had an average asking price of $6.8 million and spent 138 days on the market, on average. They totaled $54.2 million in asking dollar volume, or $2,361 per square foot.

The priciest condo to lock in a contract is an 11th floor unit at 57 Ocean in Miami Beach. Records show Jason Frecka, a supercar owner whose family owns Ohio-based Next Generation Films, a food packaging manufacturer, listed the 3,346-square-foot, four-bedroom and five-and-a-half-bathroom condo for $11.7 million. Frecka is director of operations at Next Generation Films. Gabriela Dajer of One Sotheby’s International Realty has the listing.

The previous week, buyers signed contracts for 14 properties in Miami-Dade, asking a combined $131.8 million.

Last week in New York, buyers signed contracts for 28 homes, according to the latest Olshan report. Their combined asking price was $211.2 million, and the typical home spent 302 days on the market.