A waterfront estate in Coconut Grove is under contract for $115 million, down from its previous asking price of $135 million. This transaction is the highest among 19 contracts signed in Miami-Dade County between December 15 and December 21, as reported by Eklund-Gomes. The report tracks homes and condos listed at $4 million or more on the Multiple Listing Service. On average, these properties spent 104 days on the market.
During this period, 45 new luxury listings were added in Miami-Dade, bringing the total to 1,313.
The prior week saw buyers sign 20 contracts with a combined asking price of $259.3 million.
According to the Douglas Elliman team led by Fredrik Eklund and John Gomes, the combined asking price for last week’s 11 single-family homes and eight condos under contract was $305 million. Single-family homes had an average asking price of $20.4 million and averaged 73 days on the market, totaling nearly $224 million in asking volume.
The top property is Banyan Ridge at 3585 Anchorage Way in Miami—a 4.5-acre waterfront compound listed by Danny Hertzberg, Jill Hertzberg, Nathan Zeder, and Judy Zeder of Coldwell Banker’s Jills Zeder Group. The seller is the estate of Jonathan Lewis, a well-known Miami restaurateur who passed away. The sale is expected to exceed a recent $100 million-plus lot deal in Coconut Grove by billionaire Jorge Mas. Jonathan Lewis was the son of Peter B. Lewis, former chairman and CEO of Progressive Insurance Company.
Banyan Ridge features a three-bedroom house built for former Secretary of State William Jennings Bryan (4,100 square feet) and a four-bedroom home built for Peter Lewis (5,300 square feet).
Condos that went under contract last week had an average asking price of $10.1 million and spent an average of 147 days on the market. Their total asking dollar volume reached $81.2 million—about $2,525 per square foot.
Andrew Zaro purchased a lower penthouse at Palazzo Del Sol on Fisher Island for a recorded MLS price of $36 million (including furniture), though the deed lists just over $35 million. This marks Fisher Island’s most expensive condo sale this year. Zaro belongs to New York’s Zaro’s Bakery family.
The seven-bedroom unit spans 9,800 square feet and sold between $3,600 and nearly $3,800 per square foot. Pierre Brondeau—executive chairman of FMC Corp., an agricultural sciences company based in Philadelphia—and his wife Melissa Brondeau sold the penthouse; Dora Puig of Luxe Living Realty represented them while Jorge Escasena from Luxury Living Realty represented Zaro.
In comparison, New York saw buyers sign contracts for 21 homes last week with a combined asking price of $137.3 million; those properties spent an average of 639 days on the market.
