News Summary
A stunning mansion in Miami’s Bay Point neighborhood has sold for an impressive $85.2 million, setting a new record in the area’s luxury real estate market. The expansive 20,567 square foot estate features 13 bedrooms and 13 bathrooms and offers incredible amenities, including two docks and 400 feet of bay frontage. With this sale, there is a clear trend of affluent buyers flocking to South Florida, underscoring Miami’s desirability as a prime real estate destination.
Miami Mansion Breaks Records with a Whopping $85.2 Million Sale!
Miami has been buzzing this month, and it’s all because of a stunning mansion that just made history in the city’s luxury real estate market. That’s right, a beautiful waterfront estate in the Upper Eastside area of Miami has officially sold for a jaw-dropping $85.2 million, achieving a new record for the exclusive Bay Point neighborhood.
A Peek Inside the Architectural Marvel
Located at 4425-4445 Sabal Palm Road, this spacious property spans an impressive 20,567 square feet. Unveiling its luxurious features since its sale on January 7, 2024, this mansion showcases the elegance and grandeur of modern architecture.
The incredible estate was developed by Fatos Rosenberg and her husband, Michel, who first bought the 1.68-acre lot back in March 2004 for just $3.7 million. Over the years, they brought their vision to life by constructing a spectacular Balinese-style mansion between 2008 and 2018 that includes 13 bedrooms and 13 bathrooms. Talk about breathing in tranquility!
Who’s the New Owner?
The new owner of this lavish property is Goldbeach Properties LLC, a Delaware company whose postal address is in Provo, Utah. It seems the appeal of Miami’s lush landscapes and stunning waterfronts has pulled another deep-pocketed buyer to the Sunshine State.
Behind the Scenes of the Sale
The sale was facilitated by a talented team of real estate professionals. The Rosenbergs were represented by an expert in the field, while the buyer received guidance from a leading agent at a renowned real estate firm. Additionally, intermediary agents from a prominent team also played a part in connecting the buyer and seller. Their collective expertise undoubtedly contributed to the smooth transaction process.
The Property and Its Features
This remarkable mansion is not just about its size and style; it also boasts some incredible amenities. Among its impressive features are two docks and a generous 400 feet of bay frontage. Whether you fancy lounging by the pool or taking a boat out for an afternoon ride, this property seems to have it all! Although it was initially listed for $92 million, it still achieved a record-breaking price that surpassed the previous record for Bay Point set earlier in 2023.
Luxury Market Trends in South Florida
The luxury real estate market in South Florida has been on quite a rollercoaster ride since the pandemic began. Bonafide high-end properties are seeing a surge in interest, with affluent households from other regions flocking to the area. Just in November, Miami-Dade County reported a 1.3% increase in single-family home sales year-over-year, with an astonishing 17.9% rise in sales for homes priced at $1 million and above!
In neighboring Broward County, luxury home sales for properties valued at $1 million and above jumped by 12.6%. Meanwhile, Palm Beach County saw a slight dip of 5.8% in luxury home sales volume. It’s evident that South Florida’s luxury market is buzzing, with more buyers happy to shell out the big bucks for their dream homes.
Wrapping It Up!
This recent sale is not just an example of the ongoing growth in luxury real estate; it speaks volumes about the desirability of Miami as a living destination. As more affluent buyers look for their perfect piece of paradise, the future looks bright, and who knows what record-breaking sales we will see next? Miami is not just a destination; it is *the* destination for many seeking sun, style, and sophistication!
Deeper Dive: News & Info About This Topic
- Travel + Leisure: Top Markets for Luxury Vacation Homes in Florida
- Google Search: luxury real estate Miami
- Forbes: The Perigon in Miami Unveils Beachfront Sky Villas
- Wikipedia: Luxury real estate
- Mansion Global: South Florida’s Luxury Home Market
- Encyclopedia Britannica: Real Estate
- New York Post: Where to Buy a Bubble-Proof Luxury Home in Miami
- Google Scholar: luxury homes Miami
