Miami Luxury Homes Sells Record-Breaking W South Beach Condo

W South Beach 1830 View

It has been a crazy couple of years for Miami’s residential real estate market. In yet a further sign of the market’s rebound, Michael Light, president of Miami Luxury Homes, is pleased to announce that our closing today, September 9th 2013, on Unit 1830 at W South Beach, has shattered a Miami-Dade County record for closing price per square foot on a residential property. Unit 1830, a studio with direct ocean views located within the ultra-luxurious W South Beach, encompasses 497 square feet according to the Miami-Dade County tax record. With a closing price of $1,450,000, Unit 1830 closed for an astounding $2,917.51 per square foot, the highest such mark for a studio or one-bedroom condo in the history of Miami-Dade County, per the Multiple Listing Service (“MLS”) data at the time of this article. Prior to today’s closing, there had been only four studio or one-bedroom units to close for more than $2,000 per square foot within Miami-Dade County, with a previous record high of $2,244.89, set on April 29, 2013 with the closing of Unit 1807 at W South Beach. The other three such units, per MLS data, are the following:

• Seaside Villas Unit 15612, closed January 2, 2007 at $2,096.78 per sq/ft;
• Setai Unit 3005, closed April 18, 2013 at $2,009.75 per sq/ft; and
• W South Beach Unit 1726, closed July 16, 2013 at $2,007.87 per sq/ft.

This record-breaking deal is tremendous news for property owners within Miami-Dade County, as it is a solid indicator of the strengthening of the Miami real estate market. We are currently seeing rapid market recovery and price-points that are surging past pre-crash values, as evidenced by four of the top five price per square foot closings taking place within the past five months. However, the record breaking closing of Unit 1830, which exceeds the previous county record by over $670 per square foot, sets a new benchmark for the Miami Beach luxury condo market moving forward!

If you are looking to sell your Miami Beach condo, please contact your Miami condo specialist, Michael Light. You never know, I may be able to set a record for you!  You may reach me on my cell at (786) 566-1700, directly at my office at (305) 350-9842 or via email at michael@miamiluxuryhomes.com.

Below, please see photos of the record-breaking condo:

W South Beach 1830 Living Area

W South Beach 1830 Terrace View

W South Beach 1830 Bedroom

W South Beach 1830 Bathroom

W South Beach 1830 Bathroom