Top 8 Uber-Luxe Condo Sales of 2017 (All Over $10M) Posted on January 3, 2018January 3, 2018 by Michael Light The Miami/Miami Beach luxury condo market is always a hot-button topic among real estate news outlets around the globe. And, with many people questioning the stability of the luxury market, it is important for me to point out that there were 8 condos that sold over $10 Million in Miami-Dade County in 2017 (per MLS data). And, think about this…this list does NOT include developer inventory not on the MLS, which, if I had access to, would make this number much higher. Topping the list for a second consecutive year was a luxury penthouse at Palazzo del Sol on the ultra-exclusive Fisher Island. In 2016, Penthouse 3 topped the list selling at $21,500,000, but the 2017 sale surpassed that by a landslide with the sale of the ultimate trophy Penthouse 2 selling for a whopping $31,261,545 in the summer of 2017. Top 8 Condo Sales of 2017 (Over $10M) #1 Palazzo del Sol PH 2 | Fisher Island | Sold for $31,261,545 Closed on 05/04/2017 9,715 SF Living Area | 8,595 SF of Terraces 7 Bedrooms | 7.5 Bathrooms Sold for $3,217.86 Per Square Foot #2 Porsche Design Tower PH 5601 | Sunny Isles Beach | Sold for $25,000,000 Closed on 03/31/2017 9,560 SF Living Area | 6,515 SF of Terraces | 3,328 SF of Garage Space 4 Bedrooms + Den | 6.5 Bathrooms Sold For $2,615.06 Per Square Foot #3 Palazzo del Sol Unit 7053 | Fisher Island | Sold for $16,500,000 Closed on 12/01/2017 9,826 SF Living Area | 1,797 SF of Terraces 7 Bedrooms | 7.5 Bathrooms Sold For $1,679.22 Per Square Foot #4 Faena House Unit 9A | Miami Beach | Sold for $12,500,000 Closed on 01/12/2017 4,730 SF Living Area | 1,516 SF of Terraces 5 Bedrooms | 6.5 Bathrooms Sold for $2,642.71 Per Square Foot #5 Faena House Unit 6A | Miami Beach | Sold for $13,000,000 Closed on 12/28/2017 4,720 SF Living Area | 1,526 SF of Terraces 5 Bedrooms | 6.5 Bathrooms Sold for $2,754.24 Per Square Foot #6 Oceana Bal Harbour UPH 02E | Bal Harbour | Sold for $14,490,000 Closed on 03/03/2017 6,145 SF Living Area | 4,957 SF of Terraces 3 Bedrooms + Den | 6.5 Bathrooms Sold for $2,358.01 Per Square Foot #7 W South Beach UPH 5 | South Beach | Sold for $10,200,000 Closed on 06/12/2017 2,912 SF Living Area | 690 SF of Terraces 3 Bedrooms | 3 Bathrooms Sold for $3,502.75 Per Square Foot #8 Regalia Unit 37 | Sunny Isles Beach | Sold for $10,100,000 Closed on 02/07/2017 5,515 SF Living Area | 2,085 SF of Terraces 4 Bedrooms | 5.5 Bathrooms Sold for $1,831.37 Per Square Foot If you are interested in learning more about luxury condos in Miami, please contact Broker Associate, Michael Light, Senior Director of Luxury Sales at Douglas Elliman Real Estate and Founder/Owner of the Miami Luxury Homes Group at Douglas Elliman. You may reach Michael directly at (305) 350-9842 or michael@miamiluxuryhomes.com. Disclaimer: The information contained herein was retrieved from the Multiple Listing Service (MLS) on January 2, 2018 and developer floor plans. All information contained herein is for informative purposes only and should not be relied upon without representation.
Top 11 Ultra-Luxe Condo Sales of 2016 (All Over $10M) Posted on January 29, 2017 by Michael Light The Miami/Miami Beach condo market is always a hot-button topic among real estate news outlets throughout the country and globally. And, with many people questioning the stability of the luxury market, I just want to point out that in 2016, there were 11 condos that sold (per MLS data) in Miami-Dade County over $10 Million. The chart below lists these condo sales which was topped off by an exquisite penthouse at Palazzo del Sol on the ultra-exclusive Fisher Island. Top 11 Condo Sales of 2016 (per MLS data) Topping the list at #1 was Penthouse 3 at Palazzo del Sol on prestigious Fisher Island, which sold for a whopping $21,500,00! This penthouse consists of 6,644 square feet of interior living space offering 4 bedrooms, 4 full bathrooms, 1 half bathroom, theater, living room, dining room, family room, study and laundry room. This penthouse also boasts 6,410 square feet of terrace space that includes a rooftop terrace with stunning water views. So, with the top 11 condo sales in Miami-Dade closing at a volume of $147,294,044 with an average price per square foot of $2,103.55, it seems that ultra-luxury, waterfront condos are still in high demand! If you, or someone you know, are interested in luxury condos in Miami, Miami Beach or Fisher Island, please contact Michael Light of Douglas Elliman. You may reach Michael on his cell phone at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.
Fisher Island’s Palazzo del Sol is 58% Sold & on Track for Q1 2016 Completion Posted on November 20, 2015January 4, 2019 by Michael Light Palazzo del Sol, the first new construction condo development on famed Fisher Island in nearly a decade, is already 58% sold out with the concrete lifting with mud jacking in Denver CO and the rest of construction rapidly progressing and closings scheduled for Q1 2016. Palazzo del Sol is a 6-star, 10-story, luxury condo building situated on a 4.5-acre waterfront site on the most exclusive island in South Florida, Fisher Island. Palazzo del Sol, designed by Miami starchitect Kobi Karp, consists of only 47 bespoke residences featuring private elevators, imported Italian Lualdi doors, Italian Boffi kitchens with premium Gaggenau appliances, spa-inspired marble master bathrooms with Dornbracht and Duravit fixtures, Apure lighting systems by Porsche Design Studio and immense luxury outdoor terraces with expansive views of Biscayne Bay and the Atlantic Ocean. Palazzo del Sol is surrounded by lush landscaping exclusively designed by Swiss landscape architect Enzo Enea and the grand lobby and indoor spaces are designed by Antrobus + Ramirez. Palazzo del Sol offers unprecedented luxury amenities and services including bespoke multi-lingual concierge services, first-class fitness center with complimentary yoga and Pilates classes, private movie theater, outdoor oceanfront café, immense swimming pool with private cabanas and a complimentary golf cart for every luxury residence. Download Palazzo del Sol Luxury Condos Brochure Only 18 of the 47 luxury residences at Palazzo del Sol remain available for sale with only 40% of the purchase price required at contract signing (remainder of purchase price due at closing in the first quarter of 2016). If you, or someone you know, are interested in purchasing a luxury condo at Palazzo del Sol on Fisher Island, please contact Michael Light. You may reach me at my office at (305) 350-9842, on my cell at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Palazzo del Sol is scheduled for completion and delivery during the first quarter of 2016. Fisher Island Map Highlighting Site of Palazzo del Sol Source: Renderings and information courtesy of Palazzo del Sol Sales Office.
Palazzo del Sol…Newest Fisher Island Condo Development Posted on October 24, 2014 by Michael Light Rendering of Palazzo del Sol Courtesy of Forbes.com Palazzo del Sol is the newest ultra-luxury real estate development on ultra-exclusive Fisher Island. According to Forbes, Heinrich von Hanau, the developer of Palazzo del Sol, is building the 10-story development on one of the last pieces of undeveloped land on the entire private island. Palazzo del Sol will offer 47 high-end condos having only 6 units on each floor. The extravagant Fisher Island condos will range in size from 3,700 square feet to 9,700 square feet and range in price from $5 Million to $32.5 Million. Palazzo del Sol will boast beyond luxurious amenities such as a pool, wine collection showcases, a salon, massage spa and much more. Fisher Island, only reachable by boat or ferry, is not only one of the most expensive places to live in the country, but it is one of the most exclusive. If you, or someone you know, are interested in purchasing a unit at Palazzo del Sol or any other condos on Fisher Island, please contact Michael Light of Miami Luxury Homes. You may reach me directly at my office at 305-350-9842, on my cell phone at 786-566-1700 or via email at michael@miamiluxuryhomes.com.