South Florida recently saw several significant real estate transactions in both residential and commercial sectors.
In Boca Raton, the most expensive home sale recorded in the tri-county area involved a 7,000-square-foot waterfront property at 7400 Northeast Orchid Bay Terrace. The home sold for $10.8 million, or about $1,500 per square foot. Shawn Meaike, an entrepreneur who bought the property in 2020 for $5 million, was the seller. The buyers were Agostino Vona, president of Vona Capital Group, and Barbara Vona. Meghan Romanelli of Compass represented Meaike, while Jonathan Postma of Coldwell Banker Realty represented the buyers.
Coral Gables had the largest commercial real estate deal in South Florida. DWS Group sold its two-building office complex known as The Alhambra—located at 2 Alhambra Plaza (232,100 square feet) and 95 Merrick Way (94,300 square feet)—for $119.6 million. The buildings were listed last year with a target price of $125 million. The buyer is an LLC associated with Dallas-based Lone Star Funds, Jay Caplin’s Miami-based Square2 Capital, and David Moret’s Highline Real Estate Capital. DWS Group acquired the asset in 2015 for $118.5 million.
Another notable commercial transaction took place in Miami’s Little Havana neighborhood where Douglas Enclave at 61 Northwest 37th Avenue changed hands for $68 million. Astor Companies developed the 325,000-square-foot building with 199 apartments and ground-floor retail space. An affiliate of Tandel Group purchased the property.
On the residential side in West Palm Beach, a home at 6707 Pamela Lane was sold by an LLC managed by developer Samuel Fisch for $9.7 million to a trust overseen by Eric Ray as trustee. The house measures 6,300 square feet with seven bedrooms and six and a half bathrooms; it features a pool and summer kitchen and was built last year.
Nationally, outstanding commercial real estate debt in the United States reached $4.8 trillion through the second quarter of 2025 according to Trepp’s analysis of Federal Reserve data. Banks and thrifts—including credit unions—held nearly 38 percent ($1.83 trillion) of this debt while government-sponsored enterprises such as Fannie Mae and Freddie Mac accounted for about 22 percent ($1.08 trillion).
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