🏆 Commercial: Coral Springs had the top commercial sale to hit records, with the trade of an office building spanning 346,000 square feet at 3975 Northwest 120th Avenue, a vacant lot at 11900 Northwest 41st Street and a 510,000-square-foot building at 4000 Coral Ridge Drive for $36.5 million. The seller was First Data Corp., which Fiserv acquired in 2019, and the buyer was Related Ross, based in West Palm Beach.
🏆 Residential: Miami Beach logged the priciest home sale in South Florida. A waterfront home at 29 East San Marino Drive traded for $28.5 million. The seller was an LLC with Richard Matthews as president, and the buyer was Cypress Marino LLC. Measuring more than 2,900 square feet, the home has two bedrooms and two and a half baths. The seller paid $6.8 million for the residence in 2015. Its last asking price was $30 million. Dora Puig with Luxe Living Realty had the listing.
📊 Residential: A vacant waterfront lot at 1230 South Venetian Way in Miami Beach sold for $11 million. The parcel measures about 13,400 square feet. The seller was an LLC tied to Jeff Franklin, the creator and producer of “Full House” who purchased the lot and a neighboring property in 2021. In the latest sale, the buyer was an LLC managed by Alice Liverman of Roper, North Carolina.
By the Numbers: U.S. housing pricing growth moderates ahead of spring buying frenzy
Home price appreciation continues to slow as the U.S. heads into its busy spring homebuying season.
Affordability concerns and rising inventory are helping to further shift the tide of the last few years, when sellers were in the driver’s seat.
In January, home prices inched up by 0.9 percent year over year, down from 1.1 percent the year before, according to the latest index from S&P Cotatility Case-Shiller. In real terms, however, this means that home values have dropped over the past year, as inflation climbed 2.4 percent year over year in January.
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