The sun is shining brighter than ever upon Miami’s glorious luxury residential real estate market.
Over the last 18 months there have been a number of record-breaking
sales... not just since the economic downturn, but of all time. And Dora Puig has been
at the forefront of shattering existing price ceilings and receiving top dollar
on behalf of her sellers as one of Miami’s top luxury listing brokers.
As a result, Dora Puig was the Number 1 Top Selling Realtor in South Beach for all properties sold in 2013. Additionally, she was the Number 1 Top Selling Condo Real Estate Agent in all of Miami Beach and the Number 1 Top Selling Condo Real Estate Agent in Bay Harbor.
Ohio coal mining tycoon Wayne Boich Jr. listed his opulent, double-height, glass cube Penthouse 2 at Icon South Beach with Dora Puig last year. Dora’s sale of that Penthouse at just under $21 Million set the current record for the highest sale of a bayside condo in the history of Miami-Dade County.
Right next door, former Miami Heat basketball star Rony Seikaly asked her to work her magic with the sale of his condo at Murano Grande. Dora’s sale of his huge 4,000 square foot condominium with wrap-around terraces broke the $5 Million sales ceiling for the first time in the sales history of that luxury tower in South Beach. Two months later, Dora topped her own record by selling her luxurious Lower Penthouse 01 listing at Murano Grande. She set the bar higher by delivering a $5.1 Million sale for her seller, one of New York City’s top real estate developers...a sale which remains to this date as the highest in the building.
During the summer of 2013, Dora’s Penthouse 702 sale at the boutique, luxury, oceanfront condominium Ocean House belonging to Prime 112 restaurant mogul Myles Chefetz closed for $15 Million. At $3,592 per square foot, this set the record for the highest sale price per square foot of any property in the sought-after South of Fifth Street neighborhood in Miami Beach. It is also the second highest sale price per square foot in the history of Miami-Dade County. The interiors of this spectacular penthouse were designed by Alison Antrobus, topped off by the award winning rooftop pool & deck designed by the Swiss-Italian landscape architect Enzo Enea.
Miami mega commercial power broker Edie Laquer also turned to Dora for her meticulous
marketing of her luxury residential property listing. Dora Puig took the renowned
Continuum development to new heights by selling Ms. Laquer’s 33rd floor combo unit
with killer jet plane views spanning from the turquoise waters of Miami Beach to
the magical skyline of the City of Miami for $13 Million. In the process she matched
another Miami-Dade County record... this one for the highest sale of a non-Penthouse
OTHER AREA RECORDS
Other market records set during this time period in Miami-Dade include a new price record for a single family home at $47 Million on the exclusive island of Indian Creek, a new price record for a beachfront condo for $27M at The Setai in South Beach, and new price record for a pre-construction condo for $34M at The Editions Miami Beach by Ian Schrager.
The areas of North Bay Road, La Gorce Island, the Venetian Islands, Brickell and Brickell Key have also witnessed previous sales records fall and give way to new ones. Baseball star ARod’s property on North Bay Road sold for $30 Million, setting a new record for waterfront homes in that area. La Gorce Island also saw a sale for $30 Million, which set a new record for the island. A sale on the Venetian Islands, a chain of romantic islands linking Downtown Miami with Miami Beach, at just over $15 Million set a new sales record for those islands and also set a new sales price record per square foot for a single family home in the history of Miami-Dade County. Brickell and Brickell Key also had condo sales that set new price per square foot records for condos in those areas.
REASONS FOR RECORDS
What are the reasons for these new record sales? Savvy and relentless marketing for sure. But additionally, Mother Nature and that round fiery ball mentioned at the beginning are no doubt contributing factors. Miami is simply gorgeous and its residents get to enjoy that beauty with some of the best weather in the country. Additionally, the State of Florida does not have a state income tax. This represents a significant financial savings to affluent residents migrating from U.S. states that do. Buyers from the rest of the globe are also drawn to Miami as a diverse and multi-cultural city. As a result, Miami continues to evolve and mature at a rapid pace with a recent influx of new architecture from top tier firms and world-renowned architects, world-class restaurants, the opening of new art museums and the expansion Art Basel, the most prestigious art fair in the world.
One other factor not to be overlooked is that, in comparison to many other international cities, Miami is still flat-out cheap. Despite the record-setting sales that have occurred over the last 18 months, prices for prime properties still pale in comparison to those in other world cities including London, Hong Kong, New York, Tokyo, Paris, Singapore and numerous others. And Miami’s prime properties have views of blue bay waters, sand castles and warm beaches! There’s year-round boating, yachting, diving, kite surfing, golfing and countless other outdoor activities under the Florida sun... isn’t it time you bought a piece of that sunshine??.
And if you are considering selling your property, Dora Puig doesn’t just sell real estate... she sets sales records!
Volume: Winter 2014