South Florida’s luxury residential market in 2025 has been marked by a divide between ultra-high-end properties and the broader housing market, according to research from The Real Deal. The year saw record-breaking transactions and highlighted the ongoing influence of wealthy buyers who have migrated to the region since the pandemic.
A significant milestone was reached when Florida’s priciest home sale of the year occurred on the west coast rather than in South Florida. In April, the DeGroote family sold their waterfront Naples estate for $225 million, setting a new state record and ranking as the second-most expensive residential sale in U.S. history. This surpassed Larry Ellison’s previous $173 million purchase of a Manalapan estate in 2022.
Within South Florida’s tri-county area, the most notable transaction involved billionaire cosmetics executive William Lauder selling an oceanfront lot in Palm Beach. According to sources, Microsoft Excel creator Charles Simonyi acquired this property as part of a larger $350 million assemblage on Palm Beach island.
Despite economic uncertainty earlier in the year—primarily due to concerns about tariffs—the luxury segment for homes priced above $10 million remained robust, even as non-luxury markets faced challenges.
The highest-priced sale within South Florida closed off-market for over $160 million, involving 2.3 acres of oceanfront land previously purchased by Lauder for $66.3 million between 2019 and 2020. The property had been listed at $177.8 million and features 360 feet of beachfront. Christian Angle with Christian Angle Real Estate represented the seller; Ryan Serhant with Serhant brought the buyer.
Other notable deals connected to this assemblage included an $18 million sale at 1066 North Ocean Boulevard and a $30 million transaction at 1072 North Ocean Boulevard.
In Miami Beach, billionaire developer Vlad Doronin sold his Star Island estate for a record-setting $120 million to Michael Ferro of Merrick Ventures. Doronin had purchased it from Shaquille O’Neal for $16 million in 2009.
Two Miami-Dade County properties tied for third place with sales prices of $105 million each: one was a waterfront lot at 9 Indian Creek Island Road sold by Mikhail and Mariana Peleg; another was a North Bay Road estate bought by spec developer Todd Glaser and the Posner Group from Sonny Kahn and Suzanne Kohn. Glaser may flip or redevelop this compound, potentially listing it for up to $300 million.
Nelson Gonzalez (Berkshire Hathaway HomeServices EWM Realty), Zachary Vichinsky, and Brett Harris (Bespoke Real Estate) are handling listings related to these transactions.
Jorge Mas sold a Coral Gables compound adjacent to Kampong Botanical Garden through an off-market deal this year after acquiring it earlier; city records have yet to reflect this transaction. Alex Pirez (Mocca Realty) represented Mas, while Brett Harris (Bespoke Real Estate) acted for the buyer.
William Wrigley Jr., heir to Wrigley chewing gum fortune, sold his North Palm Beach waterfront compound for $97.5 million—an all-time high for Lost Tree Village community sales—with Gary Pohrer (Serhant) representing Wrigley and Donna Hutchins (Douglas Elliman) representing the buyer.
Jerry Jordan, founder of Hellman Jordan, and his wife Darlene sold their lakefront Palm Beach estate at 20203 South Lake Trail for $86.5 million—the highest single-family home sale on Palm Beach island after Lauder’s land deal.
Fort Partners’ Nadim Ashi set another record by selling a penthouse at Seaway at Surf Club in Miami-Dade County for $86 million—the most expensive condo ever sold locally—with amenities that include four pools and dining options such as Thomas Keller restaurant.
Hedge fund manager Nick Maounis purchased an estate at 88 La Gorce Circle for $74.3 million from Germany’s Kollman family; Nelson Gonzalez (Berkshire Hathaway HomeServices EWM Realty) listed it while Ryan Mendell (Maxwelle Real Estate Group) brought Maounis as buyer.
Red Ventures co-founder Ric Elias sold his fully furnished oceanfront mansion in Palm Beach through an off-market deal after purchasing it in 2020; Jack Rooney (Douglas Elliman) represented both parties.
Lastly, Patrick Dovigi—a former hockey player turned founder of Green For Life Environmental—sold his Bal Harbour house for $69.5 million via Douglas Elliman’s Dina Goldentayer after acquiring it from Shari Arison two years prior.
