The penthouse at Regalia, a luxury condominium tower in Sunny Isles Beach, has found a buyer, leading the luxury residential sales in Miami-Dade County for the week ending August 10. According to the Eklund-Gomes report, which tracks homes and condos listed at $4 million and above on the Multiple Listing Service, nine contracts were signed between August 4 and August 10. On average, these properties spent about 111 days on the market.
During this period, 31 new luxury listings were added to the market, bringing the total number of listings to 1,156. The previous week saw buyers sign contracts for 12 properties with a combined asking price of $96.2 million.
The report from Douglas Elliman’s team led by Fredrik Eklund and John Gomes indicates that seven single-family homes and two condos went under contract last week for a total asking volume of $109.7 million. The single-family homes had an average asking price of $10.6 million and remained on the market for an average of 126 days, totaling $73.9 million in asking volume.
Among these transactions is a pending sale for a waterfront home at 100 Golden Beach Drive in Golden Beach. The property was listed at $18.5 million with Alan Eskenazi, Eli Eskenazi, and Alexander Goldstein of Miles Goldstein Real Estate as agents. Property records identify Johnny Grobman and Noemi Geller as owners of the six-bedroom house spanning 7,755 square feet on a 0.6-acre lot overlooking the Intracoastal Waterway. Built in 2004 and expanded in 2016, this home stands out among recent contracts.
Johnny Grobman is currently serving time in federal prison after being sentenced in 2022 to more than 18 years for his involvement in a baby formula fraud scheme. A jury convicted him and others in 2020 on charges including conspiracy to commit wire fraud; wire fraud; money laundering; conspiracy to obtain pre-retail medical products by fraud or deception; theft of pre-retail medical products; and smuggling goods from the United States according to the Department of Justice. He has been ordered to pay $142 million in restitution.
The two condos that secured buyers last week averaged an asking price of $17.9 million each and spent about two months on the market, totaling $35.8 million or roughly $3,308 per square foot.
Leading condo sales was Penthouse 43 at Regalia located at 19575 Collins Avenue in Sunny Isles Beach. Listed by Danny Hertzberg of Jills Zeder Group at Coldwell Banker for $19.9 million, this two-story unit spans over 10,755 square feet with six bedrooms and six-and-a-half bathrooms. Features include a rooftop pool, wine cellar with capacity for 500 bottles, and an in-unit movie theater. Developers lost ownership when it sold via auction for $20.5 million in 2022 after previously being listed as high as $33.9 million.
In comparison to Miami-Dade’s activity last week, New York saw buyers sign contracts for 22 homes with a combined asking price of $283.6 million according to Olshan’s latest report; those properties spent an average of nearly two years on the market.
