Rosie O’Donnell’s former Star Island estate in Miami Beach entered into contract last week, leading the Eklund-Gomes report. The waterfront mansion is on the market for $48 million.
Buyers signed 17 contracts for luxury properties in Miami-Dade County between June 16 and June 22, according to the report, which tracks listings of homes and condos asking $4 million and up in Miami-Dade that are included in the Multiple Listing Service. The properties spent about 103 days on the market, on average.
Forty-one luxury listings were added to the market, for a total of 1,228 listings. Luxury inventory has been dropping on a weekly basis, though last week inventory declined by just one listing.
The previous week, buyers signed contracts for 25 properties in Miami-Dade, asking a combined $274.8 million.
The asking dollar volume for the nine single-family homes and eight condos under contract last week totals $201.7 million, according to the report, which is authored by the Douglas Elliman team led by Fredrik Eklund and John Gomes.
The single-family homes that entered into contract last week had an average asking price of $14.7 million and spent an average of 109 days on the market. They totaled $131.9 million in asking dollar volume.
The late Dr. David Frankel, a prominent dermatologist, owned the 1.1-acre property at 43 Star Island Drive with his widow, Linda Frankel. The Frankels purchased the eight-bedroom, 11,104-square-foot mansion from O’Donnell in 2013 for $16.5 million. It’s now on the market with Compass’ Liz Hogan. The home, built in 1923, includes a pool and dock.
The condos that secured buyers last week had an average asking price of $8.7 million and spent 95 days on the market, on average. They totaled $69.8 million in asking dollar volume, or an average of $1,983 per square foot.
A three-bedroom, four-bathroom condo at Continuum South Beach, at 50 South Pointe Drive, was the priciest unit to find a buyer last week. Unit 1601, asking $13.7 million, spans 3,497 square feet. It’s on the market with Mick Duchon and Eloy Carmenate of the Corcoran Group.
Last week in New York, buyers signed contracts for 26 homes, according to the latest Olshan report. Their combined asking price was $207.4 million, and the typical home spent 384 days on the market.
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