🏆 Residential: The priciest home sale in South Florida was in Miami, where a penthouse at CMC Group’s Vita at Grove Isle sold for $19.8 million. The buyer was an LLC managed by Elena Skvortsova, an executive at Messer, a German industrial gas company, and Maximilian Maruna, an executive at a jet company. The unit is a duplex, spanning about 5,900 square feet. It has four bedrooms, five and a half bathrooms and about 4,400 square feet of terrace space.
🏆 Commercial: Jupiter had the most expensive commercial deal to hit records, with the sale of an office at 140 Intracoastal Pointe Drive for $10.6 million. The seller was an LLC led by James Riordan. The buyer was PSI Property Holdings, LLC. The building spans about 41,000 square feet and sits on a 2.5-acre lot. It last sold in 1997 for $2.8 million.
📊 Residential: CMC Group sold a second penthouse at its Vita at Grove Isle luxury condominium, this time for $15.1 million. The buyers were Anant Bhalla, the CEO of American Equity Investment Life Holding Company, and his wife, Anubha Lal. The 5,600-square-foot pad is also a duplex, with four bedrooms, five and a half bathrooms and about 4,200 square feet of terrace space.
📊 Residential: In Sunny Isles Beach, a condo at 19575 Collins Avenue changed hands for $8.3 million. The seller was an LLC managed by entrepreneur Alexandre Mentrezol Brandstatter, and the buyer was an LLC managed by Reid Nagle, founder of a private equity fund. The unit last traded in 2015 for $8 million. It has four bedrooms and five and a half bathrooms across nearly 5,000 square feet.
By the Numbers: CRE activity ticked up in February. Will deals follow?
Commercial real estate activity hit a four-year high last month. Whether it signals a comeback or another false start is far less clear.
In February, CRE activity rose 7 percent month over month, according to an index from LightBox, a real estate data firm that tracks listings, environmental due diligence and lender-driven appraisals — a mix of signals that typically precede transactions.
The increase builds on a sharp rebound at the start of the year; activity jumped 28 percent in January and continued its rise in February. But more listings don’t necessarily mean more deals, and transaction volume across property types remains below normal.
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