Miami billionaire Manny Medina secured a buyer for his waterfront Coral Gables mansion, which is on the market for nearly $30 million.
It’s one of 28 luxury home contracts signed in Miami-Dade County between April 20 and April 26, according to the latest Eklund-Gomes report.
The report 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 188 days on the market, on average.
Thirty-six luxury listings were added to the market, for a total of 1,248 listings.
The previous week, buyers signed 21 contracts for properties in Miami-Dade, asking a combined $236.4 million.
The asking dollar volume for the 18 single-family homes and 11 condos under contract last week totals $275.5 million, according to the report published 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 $10.5 million and spent an average of 179 days on the market. They total $178.4 million in asking dollar volume.
At the top is Medina’s Mediterranean modern estate at 555 Arvida Parkway in Gables Estates. The 13,100-square-foot, six-bedroom and six-and-a-half-bathroom home is on the market with Ralph Arias of One Sotheby’s International Realty. Medina paid $7 million for the 1-acre property in 2013, records show. The house was recently fully renovated, according to the listing. In 2019, it was set to be auctioned off but Medina ended up keeping the house.
Medina, founder and chairman of eMerge Americas, sold his company, Terremark, to Verizon Communications for $1.4 billion in 2011.
The condos that secured buyers last week have an average asking price of $8.8 million and spent 203 days on the market, on average. They total $97.1 million in asking dollar volume, or an average of $2,520 per square foot.
The priciest condo in the report is the 7,630-square-foot unit at 7085 Fisher Island Drive, at Palazzo Del Sol. The six-bedroom, eight-bathroom condo is on the market with Dora Puig of Luxe Living Realty for $28.9 million, or nearly $3,800 per square foot.
Last week in New York, buyers signed contracts for 34 homes, according to the latest Olshan report. Their combined asking price is more than $280 million, and the typical home spent 616 days on the market.
Read more
Development
South Florida
Robert Rivani finds buyer for waterfront Palm Island flip asking $28M
Residential
South Florida
Quirch Foods owner finds buyer for waterfront Old Cutler Bay estate asking $47M
Residential
South Florida
Garment magnate’s wife finds buyer for Faena House condo
