Multifamily and self-storage developer Jay Massirman has found a buyer for his mansion in Miami’s Ponce-Davis neighborhood, which is listed for $14 million. The pending sale is the second-highest among 23 contracts signed in Miami-Dade County between February 9 and February 15, according to the Eklund-Gomes report. This report tracks homes and condos listed at $4 million or more in Miami-Dade that are part of the Multiple Listing Service.
During this period, properties spent an average of 148 days on the market. There were 47 new luxury listings added, bringing the total number of listings to 1,301. In the previous week, buyers signed contracts for 20 properties with a combined asking price of $173.5 million.
The latest Eklund-Gomes report notes that last week’s contracts included 13 single-family homes and 10 condos, with a total asking dollar volume of $165.7 million. The average asking price for single-family homes under contract was $7.7 million, with an average time on market of 129 days and a total asking volume of $100.3 million.
The highest-priced contract was for a property at 641 Reinante Avenue in Coral Gables, listed at $15.6 million. The lot covers 0.6 acres and features 180 feet of water frontage. Jason Smith from Keller Williams Capital Realty is handling the listing, and property records indicate it is owned by a trust in Judith Zufi’s name; it last changed hands in 1977 for $240,000.
Massirman’s mansion at 5001 Pine Drive is next on the list. The home spans about 11,000 square feet with seven bedrooms and sits on nearly one acre near Coral Gables and South Miami but does not have water frontage. Massirman purchased the house in 2023 for $8.5 million and is now selling it through Judy and Nathan Zeder of the Jills Zeder Group at Coldwell Banker for almost $14 million. According to the listing, amenities include a pool, spa, cold plunge, outdoor kitchen, and a half-court basketball/pickleball court; the property has been renovated.
Condos that went under contract last week had an average asking price of $6.5 million and averaged 173 days on the market; their total asking volume was $65.4 million or about $1,600 per square foot.
In comparison, New York saw buyers sign contracts for 31 homes last week with a combined asking price close to $350 million; these properties spent an average of 511 days on the market.
