A trust in the name of Solly Azar, who is credited with inventing the wholesale insurance brokerage concept, secured a buyer for a Bal Harbour condo asking nearly $36 million.
Buyers, for the third week in a row, signed nine contracts between Aug. 18 and Aug. 24, according to the latest Eklund-Gomes report, which tracks listings of homes and condos asking $4 million and up in Miami-Dade County that are included in the Multiple Listing Service. The properties spent 114 days on the market, on average.
Thirty-eight luxury listings were added to the market, for a total of 1,141 listings.
The previous week, buyers signed contracts for nine properties in Miami-Dade, asking a combined $62.7 million.
The asking dollar volume for the seven single-family homes and two condos under contract last week totals $92.3 million, according to the report, which is authored by the Douglas Elliman team led by Fredrik Eklund and John Gomes.
The condos that secured buyers last week had an average asking price of $20.7 million and spent 168 days on the market, on average. They totaled $41.4 million in asking dollar volume, or an average of $3,119 per square foot.
At the top, Azar’s trust has a pending contract to sell the 7,442-square-foot, four-bedroom and four-and-a-half-bathroom condo at Oceana Bal Harbour, at 10201 Collins Avenue. Unit 2601 is on the market with Ruthie and Ethan Assouline and Eytan Namiedh of the Assouline Team at Douglas Elliman for $35.9 million, or $4,824 per square foot. Records show that Azar, founder of the Solly Azar Insurance Group, bought the unit when the oceanfront tower was completed in 2017, for $9.6 million.
The single-family homes that entered into contract last week had an average asking price of $7.3 million and spent an average of 98 days on the market. They totaled $50.9 million in asking dollar volume.
The priciest single-family home is the six-bedroom, six-bathroom non-waterfront house at 3976 Little Avenue in Miami’s Coconut Grove. The 6,144-square-foot house is on the market with Judy Zeder of Coldwell Banker’s the Jills Zeder Group for nearly $13 million. The 0.4-acre property previously traded for $5.1 million in 2021, records show. A trust owns the restored Spanish colonial home, which has been featured in Architectural Digest, according to the listing.
Last week in New York, buyers signed contracts for 22 homes, according to the latest Olshan report. Their combined asking price was $150.9 million, and the typical home spent 993 days on the market.
