Builder Pedro Adrian Selling $47 Million Palm Island Estate

Homebuilder Pedro Adrian secured a buyer for his longtime Palm Island estate in Miami Beach, asking $47 million and topping new sales activity in Miami-Dade County last week.

Buyers inked deals for 24 properties countywide between March 9 and March 15, according to the latest Eklund-Gomes signed contracts report.

The report 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 238 days on the market, on average.

Forty one luxury listings were added to the market, for a total of 1,243 listings.

The previous week, buyers signed 24 contracts for properties in Miami-Dade, asking a combined $263 million.

The asking dollar volume for the 18 single-family homes and six condos under contract last week totals $270 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 $11.6 million and spent an average of 233 days on the market. They total $208.6 million in asking dollar volume.

At the top is Adrian and his wife, Adria Adrian’s pending sale of their home at 145 Palm Avenue. The couple have owned the 1.3-acre property since the mid-1980s. The double-lot property is asking $47 million after a price cut. It hit the market in September asking $59 million with Chad Carroll and Jesus Adrian of the Chad Carroll Group at Compass. It includes a cabana, pool and tennis court.

The condos that secured buyers last week have an average asking price of $10.2 million and spent 252 days on the market, on average. They total $61.2 million in asking dollar volume, or an average of $3,600 per square foot.

Three of the six new pending condo deals are at the Continuum South Beach, at 50 and 100 South Pointe Drive, according to the report.

Last week in New York, buyers signed contracts for 26 homes, according to the latest Olshan report. Their combined asking price is more than $191.8 million, and the typical home spent 606 days on the market.