The penthouse at Regalia, a luxury condominium in Sunny Isles Beach, has found a buyer, topping last week’s luxury residential sales in Miami-Dade County. According to the Eklund-Gomes report, which tracks homes and condos listed for $4 million and above on the Multiple Listing Service, nine contracts were signed between Aug. 4 and Aug. 10.
On average, these properties spent about 111 days on the market. Thirty-one new luxury listings were added during this period, bringing the total number of listings to 1,156.
In comparison, buyers signed contracts for 12 properties the previous week with a combined asking price of $96.2 million.
The seven single-family homes and two condos that went under contract last week had a combined asking dollar volume of $109.7 million. The report is compiled by the Douglas Elliman team led by Fredrik Eklund and John Gomes.
Single-family homes accounted for an average asking price of $10.6 million each and averaged 126 days on the market, totaling $73.9 million in asking dollar volume.
Among these sales was a waterfront property at 100 Golden Beach Drive in Golden Beach with an asking price of $18.5 million. Alan Eskenazi, Eli Eskenazi, and Alexander Goldstein of Miles Goldstein Real Estate are representing the listing. Property records show Johnny Grobman and Noemi Geller own the six-bedroom home spanning 7,755 square feet on 0.6 acres along the Intracoastal Waterway; it was built in 2004 and expanded in 2016.
Grobman is currently serving time in federal prison after being sentenced in 2022 to over 18 years for his involvement in a baby formula fraud scheme. “A jury found him and others guilty in 2020 of conspiring to commit wire fraud; wire fraud; money laundering; conspiring to obtain pre-retail medical products worth $5,000 or more by fraud or deception, theft of pre-retail medical products; and smuggling goods from the United States, according to the Department of Justice.” He has been ordered to pay $142 million in restitution.
Condos that secured buyers last week averaged an asking price of $17.9 million and typically spent about two months on the market. Their combined asking dollar volume reached $35.8 million—an average of $3,308 per square foot.
Leading condo transactions was Penthouse 43 at Regalia located at 19575 Collins Avenue in Sunny Isles Beach. Listed by Danny Hertzberg of Jills Zeder Group at Coldwell Banker for $19.9 million, this two-story penthouse covers over 10,700 square feet with six bedrooms as well as features such as a rooftop pool, wine cellar accommodating up to 500 bottles, and a private movie theater. The developers lost ownership when it sold via auction for $20.5 million in 2022 after previously being listed as high as $33.9 million.
For comparison, New York saw buyers sign contracts for 22 homes last week with their total asking prices reaching $283.6 million; those homes spent an average of nearly two years on the market.
