🏆 Residential: Boca Raton had the top home sale to hit records in the tri-county region, with the sale of a waterfront mansion at 207 West Coconut Palm Road in the Royal Palm Yacht & Country Club for $18 million. The seller was a trust tied to developer Matthew Epstein, and the buyer was also a trust. The home, built in 2024, spans 9,300 square feet and has seven bedrooms and eight and a half bathrooms. It went on the market in March 2024 with an asking price of $28.9 million; its last asking price was just under $20 million. Douglas Elliman’s Nick Malinosky had the listing.
🏆 Commercial: The top commercial deal recorded in South Florida was for an office tower in Miami. Moishe Mana closed on the sale of the 31-story, 450,000-square-foot One Downtown office building at 1 Southeast Third Avenue for $110 million. PCCP, based in Los Angeles, and CP Group, based in Boca Raton, were the sellers; the firms acquired the building for $127 million in 2018. A CBRE team including Christian Lee and Sean Kelly represented the sellers in the deal.
📊 Residential: In Bal Harbour, a home at 217 Bal Cross Drive traded for $10.8 million. The 5,400-square-foot property has five bedrooms and six bathrooms. The home last sold in 2022, when it was built, for just under $8 million. The latest sale pencils out to nearly $2,000 per square foot. Its last asking price was $12 million. Joel Lusky with The Brokerage South Florida Real Estate had the listing, and Schneur Shapiro, also with The Brokerage South Florida Real Estate, brought the buyer. The seller was an LLC tied to Harry Hurst and the buyer was a trust.
📊 Residential: A waterfront home at 1001 North Venetian Drive in Miami Beach traded for $10.5 million. The seller was ophthalmologist Fred Mann, and the buyer was 1001 North Venetian Drive LLC. The home was built in the 1930s and spans about 3,300 square feet. It has four bedrooms and three bathrooms. Its last asking price was $12.9 million. Shelton and Stewart Realtors had the listing and Serhant’s Scott Porter represented the buyer.
By the Numbers: What are the trending markets for Gen Z homeownership?
Gen Z, those between the ages of 14 and 29, is beginning to enter homeownership, with just 17 percent of the cohort buying homes.
As that share slowly increases with the generation’s ages, one metropolitan area stands out for having the greatest spike in its number of Gen Z households: Tucson, Arizona, according to an analysis of IPUMS data by RentCafe.
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