Multifamily and self-storage developer Jay Massirman has found a buyer for his Miami estate in the Ponce-Davis neighborhood, with an asking price of $14 million. This transaction represents the second-highest priced contract among 23 signed in Miami-Dade County between February 9 and February 15, as reported by Eklund-Gomes. The report monitors listings of homes and condos priced at $4 million or more that are listed on the Multiple Listing Service. On average, these properties spent 148 days on the market.
During this period, 47 new luxury listings were added in Miami-Dade County, bringing the total to 1,301 active listings. In comparison, buyers signed contracts for 20 properties totaling $173.5 million in asking prices during the previous week.
The combined asking price for the 13 single-family homes and 10 condos under contract last week reached $165.7 million, according to Douglas Elliman’s team led by Fredrik Eklund and John Gomes. The single-family homes had an average asking price of $7.7 million and averaged 129 days on the market, totaling $100.3 million in value.
The most expensive property under contract was a teardown at 641 Reinante Avenue in Coral Gables with an asking price of $15.6 million. The property features a 0.6-acre lot with 180 feet of water frontage and is listed by Jason Smith of Keller Williams Capital Realty. Records indicate it is owned by a trust associated with Judith Zufi and last changed hands in 1977 for $240,000.
Following this was Massirman’s pending sale at 5001 Pine Drive—a renovated seven-bedroom mansion spanning about 11,000 square feet on nearly one acre near Coral Gables and South Miami. Massirman purchased the home for $8.5 million in 2023; it is now listed close to $14 million with Judy and Nathan Zeder from Jills Zeder Group at Coldwell Banker. According to its listing, amenities include a pool, spa, cold plunge pool, outdoor kitchen, and half-court basketball/pickleball court.
Condos that went under contract last week had an average asking price of $6.5 million after spending about 173 days on the market; their total dollar volume was $65.4 million or approximately $1,600 per square foot.
In New York City during the same week, buyers signed contracts for 31 homes with a combined asking price nearing $350 million; those properties typically spent about 511 days on the market.
