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Latest News On Miami Beach's High End Real Estate Market
October 23, 2009

In 2007 I was involved in the two highest sales on Miami Beach. They were a 22 Million dollar sale on Indian Creek and a 17 Million dollar sale on N. Bay Road.

After that the high end home market suffered a sharp decline. It took another full year before anything sold again over 10 Million dollars. On 10/08/09 I closed a sale for $9.750M

I am very happy to report that recently we have had a welcome series of high end sales, starting with Shaquille’s O’ Neal home at 26 Star Island for $16 Million on 6/23/09. That was a happy day for Miami Beach Real Estate! Hopefully the trend is just getting started. Since then, there have been several more BIG closings.

• 1400 W 28th Street – Sunset Island 1: $9.5M
• 2046 North Bay Road, Miami Beach:  $9.750M
• 4949 Pinetree Dr., Miami Beach - Asking price:  $8M

and Pending Sales:

• 22 Indian Creek Island, Miami Beach  -  Asking price: $10.950M

These sales are a huge step in the right direction. They have all been cash deals which proves that there are buyers willing to spend large amounts in this market when the deal is attractive enough.



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