The penthouse at Regalia, a luxury condominium tower in Sunny Isles Beach, has found a buyer, leading luxury residential sales last week in Miami-Dade County. According to the latest Eklund-Gomes report, which tracks homes and condos listed for $4 million or more on the Multiple Listing Service, nine contracts were signed between August 4 and August 10. On average, these properties spent about 111 days on the market.
During the same period, 31 new luxury listings were added in Miami-Dade, bringing the total to 1,156. The previous week saw buyers sign contracts for 12 properties with a combined asking price of $96.2 million.
The seven single-family homes and two condos that went under contract last week had a total asking dollar volume of $109.7 million, according to the report by Douglas Elliman’s team led by Fredrik Eklund and John Gomes. The single-family homes averaged an asking price of $10.6 million and spent an average of 126 days on the market, totaling $73.9 million in asking value.
A notable pending sale among single-family homes is for the waterfront property at 100 Golden Beach Drive in Golden Beach. The home was listed for $18.5 million with Alan Eskenazi, Eli Eskenazi, and Alexander Goldstein of Miles Goldstein Real Estate as agents. Property records show Johnny Grobman and Noemi Geller own the six-bedroom house, which spans 7,755 square feet on a 0.6-acre lot overlooking the Intracoastal Waterway. Built in 2004 and expanded in 2016, the property is tied to Grobman who is currently serving a federal prison sentence after being convicted in connection with a baby formula fraud scheme.
In 2022, Grobman received a sentence of over 18 years for his involvement in wire fraud and related crimes following his conviction by jury in 2020. The Department of Justice stated he was found guilty of conspiring to commit wire fraud; wire fraud; money laundering; conspiring to obtain pre-retail medical products worth $5,000 or more by fraud or deception; theft of pre-retail medical products; and smuggling goods from the United States. He is required to pay $142 million in restitution.
Condos that secured buyers last week had an average asking price of $17.9 million and spent about 60 days on the market. Their total asking dollar volume reached $35.8 million with an average price per square foot of $3,308.
Leading condo sales was Penthouse 43 at Regalia located at 19575 Collins Avenue in Sunny Isles Beach. Listed for $19.9 million with Danny Hertzberg of Jills Zeder Group at Coldwell Banker as agent, this two-story penthouse covers 10,755 square feet with six bedrooms and six-and-a-half bathrooms. Features include a rooftop pool, wine cellar accommodating up to 500 bottles, and a private movie theater. Developers lost ownership when it sold via auction for $20.5 million in 2022 after previously being listed as high as $33.9 million.
For comparison, New York saw buyers sign contracts for 22 homes last week with a combined asking price of $283.6 million according to the Olshan report; those properties typically spent nearly two years on the market.
