🏆 Residential: The top home sale recorded in South Florida was in Miami Beach, where MAC Cosmetics co-founder Frank Toskan sold two neighboring waterfront homes for $31.9 million. The buyer was 3339 Sunset LLC. One of the homes, the 4,200-square-foot property at 1839 West 24th Street, was valued at about $17.7 million. The other, the 6,700-square-foot home at 1833 West 24th Street, was valued at $14.3 million. Annie De La Rosa with Douglas Elliman brokered the deal.
🏆 Commercial: Delray Beach had the top commercial deal recorded in South Florida. Boca Raton-based Carlyle Management Corp. paid $30 million for the fully leased Delray Landing shopping center at 5024–5070 West Atlantic Avenue. The seller was Pebb Enterprises, which is also based in Boca Raton, and Topvalco. The shopping center, anchored by Sprouts, spans more than 70,400 square feet and sits on a 6.3-acre site. Newmark’s Eric Williams and Cole Franz represented the sellers.
📊 Residential: In Palm Beach, a home at 311 Polmer Park Road sold for $24.2 million or more than $2,500 per square foot. The seller was an LLC managed by developer Paul L. Courchene, and the buyer was 311 Polmer Park LLC. Courchene had purchased the property in 2022 for $8 million; the five-bedroom, 9,500-square-foot home on the site was built last year. It has five full bathrooms, two half baths, an elevator, a wine room and a pool. It went on the market almost two years ago with an asking price of just under $40 million. Richard True with Corcoran had the listing, and Compass brought the buyer.
📊 Residential: A trust tied to Cheryl Bishop Nasai parted with a spec home at 16825 Berkshire Court in Southwest Ranches for $10.3 million. The buyers were Nurdin Jesani and Shalima Bhaidani, who run a financial advisory firm. Its list price was $17.8 million. Felise Eber with Coldwell Banker Realty had the listing.
By the Numbers: CMBS issuance hits nearly 20-year peak in 2025
Issuance of commercial mortgage-backed securities hit a nearly 20-year high last year.
Domestic, private-label originators issued $125.6 billion worth of CMBS loans across 173 deals, a 21 percent increase compared to the year before, according to data from Trepp. That dollar volume was the highest since 2007, when CMBS issuance reached $230.5 billion.
CMBS deals backed by office buildings had the highest balance issued last year, at nearly $29 billion. That was up year over year by almost 207 percent, underscoring the shifting demand for office properties as the asset class continues to emerge from the pandemic-era crash.
If you like this digest, you can get it even earlier — every evening — by subscribing to TRD Data, here.