Residential real estate in South Florida saw its highest-priced sale in Boca Raton, where a waterfront home at 7400 Northeast Orchid Bay Terrace sold for $10.8 million. The 7,000-square-foot property features five bedrooms, a pool, and a wraparound balcony. The seller was entrepreneur Shawn Meaike, who bought the house in 2020 for $5 million and listed it last October for $14.7 million. Agostino Vona, president of Vona Capital Group, and Barbara Vona purchased the home. Meghan Romanelli of Compass represented Meaike; Jonathan Postma of Coldwell Banker Realty represented the buyers.
In commercial real estate, Coral Gables recorded the largest deal with DWS Group selling The Alhambra office complex for $119.6 million. The property includes two buildings: 2 Alhambra Plaza (232,100 square feet) and 95 Merrick Way (94,300 square feet). DWS Group had acquired the asset in 2015 for $118.5 million and put it on the market last year with an initial target price of $125 million. The buyer is an LLC connected to Lone Star Funds from Dallas, Square2 Capital led by Jay Caplin in Miami, and Highline Real Estate Capital led by David Moret.
Another notable commercial transaction occurred in Miami’s Little Havana neighborhood. The Douglas Enclave apartment complex at 61 Northwest 37th Avenue changed hands for $68 million. Developed by Astor Companies, the building has 199 apartments across 11 stories with ground-floor retail space totaling 325,000 square feet. An affiliate of Tandel Group acquired the property.
In West Palm Beach residential sales, developer Samuel Fisch sold a newly built home at 6707 Pamela Lane for $9.7 million to a trust managed by Eric Ray as trustee. The residence measures 6,300 square feet with seven bedrooms and six and a half bathrooms along with amenities such as a pool and summer kitchen.
Commercial real estate debt across the United States reached $4.8 trillion through the second quarter of 2025 according to Trepp’s analysis of Federal Reserve data (https://www.trepp.com/). Banks and thrifts hold nearly 38 percent of this debt ($1.83 trillion), while government-sponsored enterprises like Fannie Mae and Freddie Mac account for about 22 percent ($1.08 trillion).
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