Two Years Of Miami Beach Luxury Home Salesg

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Two Years Of Miami Beach Luxury Home Sales

Saturday, June 12, 2010
Two years of Miami Beach Luxury Home Sales
Greetings from Miami Beach. For avid Miami Beach luxury home searchers, I have compiled all of the data on the closed home and vacant land sales from May 2008 through May 2010.
Most recently, 88 La Gorce Circle closed on June 11, 2010 for $16,000,000. This is a spectacular ultra-modern home with almost 20,000 square feet of interior space including the guest home.
44 Star Island has sold twice, once for $8,100,000 in August 2008. This owner took an $850,000 loss selling this gutted home for $7,250,000 in February 2010.
Many of the most expensive homes sold involve multi-million dollar fixer-uppers. On the 2nd sale of 44 Star Island, the land alone – over an acre at 48,266 square feet sold for $150 per square foot. $7,000,000 per acre! But this is Star Island.
Shaquille O’Neal sold his home at 26 Star Island for $16,000,000. Originally listed at over $25,000,000, Shaq is an intelligent seller. He reduced the price until the home attracted offers.
A side note, I do have buyers inquiring about Ocean front homes in Miami Beach. The truth is that there are no oceanfront homes in Miami Beach, only condominiums.
15 miles north of Miami Beach, there is a very small city named Golden Beach that does have ocean front homes. Lot prices start around $9,000,000. If you love the ocean, you have your own private beach and the upscale Bal Harbour Shops just a few miles away.
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