Waterfront Sunset Islands teardown asking $38M tops signed contracts

The longtime owners of a waterfront Sunset Islands home in Miami Beach, asking $37.5 million, found a buyer for their property.

The deal is one of 17 contracts signed in Miami-Dade County between Sept. 29 and Oct. 5, according to the latest Eklund-Gomes 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 121 days on the market, on average.

Forty-two luxury listings were added to the market, for a total of 1,152 listings.

The previous week, buyers signed contracts for 20 properties in Miami-Dade, asking a combined $162.6 million.

The asking dollar volume for the nine single-family homes and eight condos under contract last week totals $190.4 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 have an average asking price of $15.8 million and spent an average of 112 days on the market. They total $142.6 million in asking dollar volume.

The teardown at 1821 West 27th Street in Miami Beach topped the report. The 6,860-square-foot home, built in 1940, sits on a 0.6-acre lot with 150 feet of water frontage, according to the listing. The Sunset Islands II house is on the market with Compass agent John Sandberg. Property records show Mark and Patricia Jaffe paid just $1.15 million for the seven-bedroom, seven-bathroom house in 1989.

The condos that secured buyers last week have an average asking price of $6 million and spent 131 days on the market, on average. They total $47.8 million in asking dollar volume, or an average of $2,333 per square foot.

A 3,247-square-foot condo at One Park Grove in Miami’s Coconut Grove went under contract. The four-bedroom, five-bathroom and one half-bathroom unit at 2811 South Bayshore Drive is asking $8.1 million. Unit 4A previously sold for $4.1 million in 2021. The luxury condo tower was completed in 2020.

Last week in New York, buyers signed contracts for 29 homes, according to the latest Olshan report. Their combined asking price is $286.6 million, and the typical home spent 912 days on the market.

Residential

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