The penthouse at Regalia, a luxury condominium tower in Sunny Isles Beach, has found a buyer after being on the market for an extended period. The transaction led last week’s luxury residential sales activity in Miami-Dade County.
According to the latest Eklund-Gomes report, which monitors listings of homes and condos priced at $4 million and above included in the Multiple Listing Service, buyers signed nine contracts 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 Miami-Dade market, bringing the total number of listings to 1,156. In comparison, buyers had signed contracts for 12 properties with a combined asking price of $96.2 million during the previous week.
The seven single-family homes and two condos that went under contract last week represented a total asking dollar volume of $109.7 million. This information comes from a report authored by Fredrik Eklund and John Gomes of Douglas Elliman.
Single-family homes accounted for $73.9 million in asking dollar volume last week, with an average asking price of $10.6 million and an average time on market of 126 days.
Among these transactions was a waterfront home at 100 Golden Beach Drive in Golden Beach. The property was listed for $18.5 million with Alan Eskenazi, Eli Eskenazi, and Alexander Goldstein of Miles Goldstein Real Estate as agents. Property records indicate that Johnny Grobman and Noemi Geller own the six-bedroom house spanning 7,755 square feet on a 0.6-acre lot overlooking the Intracoastal Waterway. The home was originally built in 2004 and expanded in 2016.
Grobman is currently serving a federal prison sentence after being convicted for his involvement in a baby formula fraud scheme. In 2022, he received a sentence of more than 18 years following his conviction on charges including wire fraud, money laundering, theft of pre-retail medical products worth over $5,000 by deception or fraud, smuggling goods from the United States, and conspiracy to commit these offenses as determined by the Department of Justice. He is also responsible for paying $142 million in restitution.
The two condos that secured buyers last week had an average asking price of $17.9 million each and spent about two months on the market before going under contract. Together they represented an asking dollar volume totaling $35.8 million or approximately $3,308 per square foot.
Penthouse 43 at Regalia stood out among condo sales last week. Located at 19575 Collins Avenue in Sunny Isles Beach and listed with Danny Hertzberg of Jills Zeder Group at Coldwell Banker for $19.9 million, this two-story penthouse features six bedrooms across its 10,755 square feet along with amenities such as a rooftop pool, wine cellar capable of holding up to 500 bottles, and a private movie theater. The unit changed hands via auction for $20.5 million in 2022 after developers lost ownership; it had previously been listed as high as $33.9 million.
In New York City during the same period covered by this report (August 4–10), buyers signed contracts for twenty-two homes totaling an aggregate asking price of $283.6 million; those properties spent an average of nearly two years—649 days—on the market.
