South Beach Penthouse Leads Slow Week of Miami Contracts

A penthouse at Murano Grande in South Beach led a slow week of new signed contracts in Miami-Dade County.

The pending deal for the nearly $15 million condo marks the most expensive of 11 contracts signed in Miami-Dade between Nov. 24 and Nov. 30, according to the latest Eklund-Gomes report. It tracks listings of homes and condos asking $4 million and up in Miami-Dade that are included in the Multiple Listing Service. The properties spent 202 days on the market, on average.

Thirty-two luxury listings were added to the market, for a total of 1,298 listings.

The previous week, buyers signed contracts for 21 properties in Miami-Dade, asking a combined $179 million.

The asking dollar volume for the six single-family homes and five condos under contract last week totals $86.2 million, according to the report published by the Douglas Elliman team led by Fredrik Eklund and John Gomes.

The single-family homes that entered into contract last week have an average asking price of $7 million and spent an average of 184 days on the market. They total $41.2 million in asking dollar volume.

The five-bedroom, seven-bathroom house at 7305 Belle Meade Island Drive in Miami was the priciest home to secure a buyer last week. The 5,800-square-foot Belle Meade Island home is on the market for $11.5 million, or $1,921 per square foot, with Compass agent Geva Bar. Records show Emre Balci owns the half-acre property. Balci paid $8.2 million for the house in 2022. It was built in 1950.

The condos that secured buyers last week have an average asking price of $8.9 million and spent 224 days on the market, on average. They total $44.3 million in asking dollar volume, or an average of $2,500 per square foot.

The three-bedroom, four-bathroom Murano Grande penthouse, at 400 Alton Road, spans two stories and 5,300 square feet. It’s on the market with Jeff Miller of One Sotheby’s International Realty for $14.9 million, or $2,809 per square foot. Records show Mario Cesar Rodriguez owns penthouse A. Rodriguez paid $4.1 million for the unit in 2003.

Last week in New York, buyers signed contracts for 19 homes, according to the latest Olshan report. Their combined asking price is $189.3 million, and the typical home spent 784 days on the market.