🏆 Residential: The top home sale to hit records in South Florida was in Bal Harbour, where a condo at 10201 Collins Avenue traded for $12.5 million, or just under $3,000 per square foot. The sellers were Phillipe and Josette Pommez, and the buyers were Robert and Sandra Bonfield. The oceanfront unit spans about 4,200 square feet and has three bedrooms, four and a half bathrooms, a balcony and three parking spaces. The condo last sold in 2016, for $7.3 million; it went on the market in November, with an asking price of $12.9 million. Ethan Assouline with Douglas Elliman represented both sides of the deal.
🏆 Commercial: The priciest commercial transaction recorded in the tri-county region was for an industrial property at 5650 Anglers Avenue in Fort Lauderdale, which sold for $16 million. The property spans 72,500 square feet, pricing the sale at roughly $220 per square foot. It last sold in 2010, for $5.2 million. The seller in the latest deal was an entity managed by Edward T. Stephens, who also owned Stephens Distributing Company, a beverage distributor that occupied the space until last year. The buyer was an entity managed by David Weiss of Brooklyn.
📊 Residential: In Boca Raton, an 8,500-square-foot mansion at 681 Golden Harbour Drive traded for $12.3 million. The seller was an LLC managed by Anthony Cicardo, founder of Boca Raton-based Cicardo Development, and the buyer was a trust. Built last year, the home has six bedrooms and six and a half bathrooms. The transaction pencils out to roughly $1,500 per square foot. Its last asking price was just under $13.5 million. Coldwell Banker Realty’s Tim Schirripa had the listing.
📊 Residential: A home at 261 El Dorado Lane in Palm Beach sold for $9 million. The seller was an LLC managed by Martin and Jennifer Flanagan, and the buyer was an entity tied to Diana Phipps Pulito, owner of the Phipps Stable Thoroughbred breeding and racing stable. The deal for the 2,700-square-foot home works out to about $3,300 per square foot. The home, built in 1957, has three bedrooms, three full bathrooms and two half baths. The residence last sold in 2020, for $5.5 million. It went on the market in November, for just under $9.5 million. Liza Pulitzer with Brown Harris Stevens represented both sides of the transaction.
By the Numbers: Mortgage delinquencies tick up as affordability strains homeowners
The U.S. affordability crisis is continuing to take a toll on homeowners, an increasing share of whom are missing their mortgage payments.
In the fourth quarter, the share of delinquent mortgages ticked up 28 basis points year over year and 27 basis points quarter over quarter to reach 4.26 percent, according to the Mortgage Bankers Association. While more homeowners are falling behind on payments, the rate of loans starting the foreclosure process held relatively steady compared to the quarter and year before, at about 0.2 percent.
Mississippi had the highest 90-day delinquency rate, of 2.66 percent, and the highest 30-day delinquency rate, of 3.98 percent. Both rates increased the most quarter over quarter in the country, by 26 basis points (90 days) and by 44 basis points (30 days).
If you like this digest, you can get it even earlier — every evening — by subscribing to TRD Data, here.
