🏆 Residential: The highest-priced home sale to hit records was in Coral Gables, where a trust dropped $41.6 million on a 9,100-square-foot mansion at 8565 Old Cutler Road. The seller was 8565 Old Cutler LLC, which purchased the property in 2022 for $38 million. The home, marketed as a tear down, has six bedrooms and six bathrooms and sits on a 4.6-acre lot. It also has a guest house and 300 feet of water frontage. Jill Hertzberg and Nathan Zeder with Coldwell Banker Realty had the listing and Marilyn Miguel with Miami Real Estate Global brought the buyer.
🏆 Commerical: Miami logged the top commercial deal recorded in South Florida with the sale of a 12-acre truck storage facility at 17707 Northwest Miami Court for $51 million. The seller, CenterPoint Properties, purchased the property in 2022 for $47.5 million. The buyer in the latest deal was waste management company Waste Connections which is based in The Woodlands, Texas.
📊 Residential: In Miami, a 6,700-square-foot, single-family home at 8301 Southwest 53rd Avenue changed hands for $12.6 million. The seller was Karel Volot, who leads an aerospace maintenance tooling company, and the buyer was a trust tied to Daniel Julien who runs a business outsourcing services firm. The residence has four bedrooms and four and a half baths; Volot purchased it in 2020 for $4.2 million. The property also has a two-story guest house and a basketball court. Clelia Maufroy with One Sotheby’s International Realty had the listing, which went live in August for $16.8 million, and Jill Hertzberg with Coldwell Banker Realty brought the buyer.
📊 Residential: In Sunny Isles Beach, a trust scooped up a condo at 17901 Collins Avenue, the Estates at Acqualina South Tower, for $11.4 million. The seller was an LLC managed by Craig Bridgman. The three-bedroom, three-and-a-half-bathroom pad measures about 4,800 square feet, pricing the sale at roughly $2,400 per square foot. The unit last sold for $11.6 million in 2023.
📊 Commercial: A shopping center at 650-850 Riverside Drive in Coral Springs sold for $18.3 million. The seller was an affiliate of Toronto-based 35 Oak Holdings, and the buyer was an entity tied to Maven Real Estate. The seller had purchased the property in 2016 for $17.7 million. Built in the 1980s, the shopping center spans more than 96,000 square feet.
By the Numbers: Federal agency sells $614M worth of real estate
The federal government hasn’t managed to slash its office rent bill under President Donald Trump, but it has found another way to bring in cash: selling off the buildings it owns.
Since the start of last year, the General Services Administration, which handles much of the federal government’s civilian property portfolio, has sold more than 125 federal properties totaling over 6.5 million square feet, generating $614 million in proceeds, the agency told The Real Deal.
As of June 30, there were 42 properties listed for sale on GSA’s website, roughly a third of which are office buildings. Washington, D.C., California, Illinois and Texas have the most properties on the chopping block, with three apiece.
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