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.
Miami Luxury Homes Sells Record-Breaking W South Beach Condo Posted on September 9, 2013April 8, 2015 by Michael Light 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