A trust in the name of Solly Azar, recognized for introducing the wholesale insurance brokerage model, has secured a buyer for a Bal Harbour condominium listed at nearly $36 million. The 7,442-square-foot unit at Oceana Bal Harbour, located at 10201 Collins Avenue, features four bedrooms and four-and-a-half bathrooms. The condo is represented by Ruthie and Ethan Assouline and Eytan Namiech of the Assouline Team at Douglas Elliman with an asking price of $35.9 million, or $4,824 per square foot. Joelle Oiknine’s team at One Sotheby’s International Realty is representing the buyer. Records indicate that Azar purchased the two units comprising Unit 2601 for $16.3 million when the building was completed in 2017.
The sale comes amid steady activity in Miami-Dade County’s luxury market. For the third consecutive week, buyers signed nine contracts for homes and condos priced at $4 million or more between August 18 and August 24. This data is according to the latest Eklund-Gomes report by Douglas Elliman agents Fredrik Eklund and John Gomes.
During this period, new luxury listings increased by 38 to reach a total of 1,141 active listings in Miami-Dade County. Properties under contract last week spent an average of 114 days on the market.
The combined asking dollar volume for seven single-family homes and two condos placed under contract last week reached $92.3 million. The two condos averaged an asking price of $20.7 million each after spending an average of 168 days on the market; their total asking volume amounted to $41.4 million with an average price per square foot of $3,119.
Single-family homes that went into contract had an average listing price of $7.3 million and were on the market for about 98 days on average; these properties totaled $50.9 million in combined asking prices.
The highest-priced single-family home entering contract was a six-bedroom property at 3976 Little Avenue in Coconut Grove, listed just below $13 million with Judy and Nathan Zeder from Coldwell Banker’s Jills Zeder Group as agents. This non-waterfront Spanish colonial home sits on a 0.4-acre lot and previously sold for $5.1 million in 2021; it has been featured in Architectural Digest.
For comparison, New York saw buyers sign contracts for 22 homes during the same week with a combined asking price totaling $150.9 million; those properties spent a median of nearly three years—993 days—on the market.
“Azar’s trust has a pending contract to sell the 7,442-square-foot, four-bedroom and four-and-a-half-bathroom condo at Oceana Bal Harbour, at 10201 Collins Avenue,” states information provided about this transaction.
