🏆 Residential: The most expensive home sale recorded in South Florida was in Fort Lauderdale. A newly built condo at Kolter Urban’s Selene Oceanfront Residences at 151 North Seabreeze Boulevard sold for $10.9 million. The buyer was Don Marco Holdings, LLC, a Texas company. Douglas Elliman is marketing the development, which consists of two, 26-story towers.
🏆 Commercial: The priciest commercial deal recorded in South Florida was in Pompano Beach, where an apartment complex at 275 North Federal Highway traded for $41 million. The seller was an affiliate of Montreal-based Frankforter Group, and the buyer was an LLC tied to Griffis Residential, based in Greenwood Village, Colorado. The building has 144 units and measures more than 171,000 square feet. It previously sold for $42.9 million in 2021.
📊 Residential: In Highland Beach, a single-family, oceanfront home at 2545 South Ocean Boulevard changed hands for $17.5 million or $3,300 per square foot. The seller was Boston-area real estate developer Carol Sawyer Parks, and the buyer was an LLC managed by The Kolter Group, based in Delray Beach. The four-bedroom home measures 5,300 square feet and has a four-car garage, four and a half baths, a pool, an elevator and a wraparound balcony. Parks paid $2.5 million for the site in 2006, and the home was completed in 2009. It hit the market in December with an asking price of $25 million. Douglas Elliman’s Nick Malinosky and Michael O’Connor represented both parties in the transaction.
📊 Residential: A trust tied to Boston-based attorney Daniel P. Tighe sold a home at 253 Jamaica Lane in Palm Beach for $13.1 million. The buyer was an LLC managed by Amy and Scott Madden. The transaction pencils out to just over $3,000 per square foot. The home, built in 2016, has four bedrooms and measures roughly 4,300 square feet. The trust purchased the residence in 2017 for $5.4 million; it went on sale in March for about $15.8 million. Margit Brandt with Premier Estate Properties represented both sides of the deal.
By the Numbers: Home loan activity surges year over year despite holiday drop
Despite taking a dip during the holiday season, residential mortgage activity is elevated into the new year.
For the week ending Jan. 2, the number of new purchase mortgage applications tumbled by almost 33 percent compared to four weeks prior, and refinancing applications also were lower, by 37 percent, according to the latest survey from the Mortgage Bankers Association.
However, both purchase and refinance loan application volume was much higher compared to the same time last year. Refinancing activity surged by nearly 108 percent year over year, while purchase applications were up by 10 percent.
