The former home of ex-Miami Heat player Justise Winslow in Coral Gables is under contract with a new buyer. The property at 506 Sunset Drive was the second most expensive contract signed in Miami-Dade County between November 10 and November 16, according to the latest Eklund-Gomes report. This report monitors homes and condos listed for $4 million or more in Miami-Dade through the Multiple Listing Service.
Over this period, buyers agreed to purchase 15 properties, with nine single-family homes and six condos entering contracts. These properties had a combined asking dollar volume of $100.2 million. On average, listings spent 121 days on the market before going under contract.
The previous week saw buyers sign contracts for 12 properties totaling $120 million in asking price. Last week also brought an influx of new inventory, as 57 luxury listings were added to the market, bringing the total number of available listings to 1,262.
Among single-family homes that entered into contract last week, the average asking price was $7.8 million and they averaged 96 days on the market. In total, these accounted for $30.3 million in asking volume.
The highest-priced deal last week was for a waterfront property at 4042 Island Estates Drive in Aventura. The house spans nearly 7,800 square feet and features five bedrooms, six bathrooms, two half-bathrooms, a pool, spa, outdoor kitchen and over 250 feet of water frontage. Compass agent Chad Carroll is listing it at nearly $15 million; records indicate Hillel Shohet’s company bought it for $11.9 million in 2022.
The Coral Gables house at 506 Sunset Drive—formerly owned by Winslow—was listed with Compass agents Ben Moss and Eric Torrente for almost $9 million. Built in 2008 on a .7-acre lot with six bedrooms and six-and-a-half bathrooms across 7,354 square feet, records show Geidy Leon (co-founder of Miura Cigars) owns it now after purchasing from Winslow and his wife Jorge Leon in 2022 for $5.5 million.
Condos that went under contract last week averaged an asking price of $5 million with an average time on market of 96 days—amounting to a total volume of $30.3 million or about $1,979 per square foot.
The most expensive condo placed under contract was Unit 1008 at Ritz-Carlton Bal Harbour (10295 Collins Avenue), which has an asking price of $6.5 million ($2,350 per square foot). Fritz Wagor from Keller Williams Realty Premier is representing this three-bedroom unit; private equity investor Jim Lim’s company acquired it for $4.5 million in 2020.
For comparison outside Florida markets: In New York last week buyers signed contracts for twenty-five homes with a combined asking price near $197.4 million; those properties spent an average of over six hundred days on the market.
