🏆 Residential: The highest-priced home sale to hit records was in Miami Beach, where the waterfront home at 416 West San Marino Drive on the Venetian Islands changed hands for $42.5 million. Built in 2025, the home spans about 6,400 square feet and has five bedrooms and eight and a half baths. It last sold in 2024 for $23.1 million. The seller in the latest deal was Justin Korsant, CEO of Miami-based family office Long Light Capital. Korsant sold the home to 416 W San Marino LLC.
🏆 Commercial: In Miami, the two-building warehouse complex at 8452 Northwest 72nd Street that spans nearly 90,000 square feet traded for $24.6 million, representing the most expensive commercial transaction to hit records. A trust sold the property to an affiliate of Boston-based Longpoint for roughly $273 per square foot.
📊 Residential: In Palm Beach, a trust tied to the late German noble Prince Albrecht of Oettingen-Spielberg parted with the oceanfront home at 143 East Inlet Drive for $31.8 million. The buyer was an LLC tied to attorney Leonard Ackerman. The prince had owned the property, which measures about 5,900 square feet, for decades. Its last asking price was $30.3 million. Liza Pulitzer with Brown Harris Stevens had the listing.
📊 Residential: Martha Hernandez sold the waterfront mansion at 221 Casuarina Concourse in Coral Gables for $24.5 million to a trust The home spans 11,800 square feet and has seven bedrooms, eight full bathrooms and two half bathrooms. Chad Carroll and Michelle Suegart with Compass represented Hernandez, and Roberto Quiroz with One Sotheby’s International Realty brought the buyer. The home’s last asking price was $28 million.
📊 Residential: Also in Coral Gables, Thomas and Estelle Bernard purchased a home at 9360 Balada Street for $20.5 million. The seller was a trust tied to Gregory Blatt, the former CEO of Tinder and Match Group, according to the South Florida Business Journal. The trust had purchased the property in 2021 for $16.9 million. The home, built in 2021, spans 6,800 square feet and has seven bedrooms and eight and a half bathrooms.
By the Numbers: REITs outperform broader market in H1 2026
Real estate investment trusts in the first half of the year outperformed the broader market as interest rates remain elevated, largely thanks to strong operating fundamentals.
In the first and second quarters, the Nareit All Equity REIT index posted total returns of nearly 15 percent, according to data from Nareit, a REIT industry group. Meanwhile, the Russell 1000’s returns were 10.3 percent and the S&P 500’s was 10.2 percent.
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