A Five Park penthouse and a tech mogul’s Venetian Islands home were the most expensive listings to go into contract in Miami-Dade County last week.
Buyers signed 24 contracts between Jan. 26 and Feb. 1 for luxury properties in Miami-Dade, according to Douglas Elliman’s Eklund-Gomes team. The homes that went pending last week total $204.6 million in asking dollar volume and averaged 164 days on the market. The previous week, buyers signed 29 contracts totaling $301 million.
The report tracks signed contracts for single-family homes and condos listed for $4 million or more in Miami-Dade County. It identified 60 new listings, and 1,303 active listings on the market.
Of the properties that went pending last week, 17 were single-family homes, and seven were condos. The average asking price for the condos was $7.9 million, or $2,457 per square foot. They spent an average of 172 days on the market.
The average asking price for the single-family homes was $8.6 million, or $1,685 per square foot, and they spent an average of 160 days on the market.
The most expensive listing to go pending last week was penthouse 4701 at Five Park at 500 Alton Road in Miami Beach, asking $$21 million.
David Martin’s Terra and Russell Galbut’s GFO Investments completed the 48-story, 227-unit tower in 2024, and this 6,100-square-foot unit was the last remaining penthouse.
It includes five bedrooms, six bathrooms and one half-bathroom, according to the listing. Five Park’s amenities include a gym, spa facilities, two pools, a restaurant, a private club and a private beach club, the listing shows.
Another penthouse owner, hedge funder Jay Newman, sued the developers last month for promising guest suites they did not deliver. Other penthouse owners include Daniel Krizek, a biotech fund manager at Citadel’s Surveyor Capital, who paid $19.5 million for his unit in April, and waste management mogul Patrick Dovigi, who bought his condo for $17.5 million in July.
The final penthouse hit the market asking $21 million in July, according to Zillow. Angelica Garcia and Christopher Wands with Douglas Elliman had the listing.
The next most expensive home to find a buyer was the 5,500-square-foot waterfront home at 508 West Dilido Drive asking $20 million.
Records show the seller is Ryan Hudson, co-founder of Honey, the online shopping platform that PayPal acquired for $4 billion in 2020.
Hudson bought the home on the Venetian Islands’ Di Lido Island in 2021 for $15.3 million. Designed by Max Strang on a quarter acre in 2018, the home includes four bedrooms, four bathrooms, a pool, a dock and 60 feet of waterfront.
Hudson first listed the home for $25.5 million in 2023. It has been on-and-off the market since then, including as a rental asking as much as $125,000 per month. Reid Heidenry and Shauna Walters with One Sotheby’s International Realty have the listing.
