🏆 Residential: The top home sale recorded in South Florida was in Miami Beach, where a 6,400-square-foot home at 7960 Biscayne Point Circle sold for $10.8 million or about $1,700 per square foot. The seller was John Backus, and the buyer was a trust. The waterfront home, built in 2019, has five bedrooms and six and a half baths. Backus purchased the home in 2022 for $13 million. It went on the market in September 2024, with an asking price of $15.9 million. Michael LeDuc with One Sotheby’s International Realty had the listing, and Jessica Nasib with JMK Real Estate Agents brought the buyer.
🏆 Commercial: West Palm Beach had the top commercial real estate transaction to hit records, thanks to the sale of a Delta Hotels by Marriott branded property at 1301 Belvedere Road for $23.8 million. The seller of the more than 130,000-square-foot property was Sagar Dasai’s Activate Hospitality, which had acquired the building and an adjacent empty development site in 2023. The buyer in the latest deal was an affiliate of Toronto-based Palm Holdings. The other lot does not appear to have been part of the transaction.
📊Residential: In Palm Beach, a condo at 340 South Ocean Boulevard changed hands for $9.1 million. The seller was an LLC managed by Joseph Loren Connor, and the buyer was ZAD PB LLC. The two-bedroom pad spans about 2,100 square feet, pricing the deal at roughly $4,300 per square foot. The unit last sold in 2020 for $3 million. The latest deal appears to have been off market.
📊Residential: In Coconut Grove, a 4,700-square-foot, single-family home at 3470 Poinciana Avenue traded for $7.6 million. The deal works out to about $1,600 per square foot. The sellers were Jacqueline MacLeod and Brian Lippey. The buyer was a trust tied to private equity firm founder Richard Shipley. The five-bedroom residence dates to 2020; it has six and a half bathrooms, a balcony and a pool. It went on the market in September 2024 for $8.8 million. Riley Smith and Brian Sehmann with Compass represented the seller, and the buyer’s representative was BHHS EWM Realty’s Nicole Alexander
By the Numbers: Broward County leads South Florida’s office sales growth
While Miami-Dade County still boasts the biggest price tags for office properties, Broward County took the spotlight last year as the sector’s investment darling in South Florida.
Broward last year recorded a 93 percent year-over-year spike in its office sales last year, the greatest growth in South Florida, according to a TRD Data analysis of CBRE data. The county raked in nearly $651.5 million worth of deals last year.
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