More South Florida Real Estate You Can’t Afford, But That’s Fun To Read About
We all can’t be players in the oceanfront South Florida housing market, but we can all dream. And live vicariously through others. Here is a look at some of the most decadent pieces of the local real estate puzzle that have been sold to people much wealthier than you in recent weeks. So what if you can’t afford such luxury. Use your imagination.
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A Mediterranean-style mansion just sold for $18 million, according to the Miami Herald. A luxurious home, even by Palm Beach real estate standards, the property was originally listed for $21 million. Built in 2002, the home has never been lived in. It has five bedrooms, seven full bathrooms and five half baths. As if those are going to get used. The seller was One Hundred El Vedado Way LLC, a Florida real estate company. The new owner is El Vedado LLC, of Virginia, and the listing agent was James McCann of Corcoran Group Palm Beach. That’s some commission!
James and Joanne Mitchell have bought a waterfront estate on Tahiti Beach Island, within the area of Cocoplum in Coral Gables. Situated on a natural reserve, this community of 28 homes is gated and has a neighborhood park, private beach, tennis and basketball courts. Sounds nice. They paid $9 million for the home, which was built in 1996 and has seven bedrooms among its 15,563 square feet of living area. No wonder Coral Gables has a reputation for possessing some of the priciest Miami real estate.
An Aventura mansion has sold for $4.5 million, after being listed at $5.5 million initially. The Old World Mediterranean-style mansion was built in 2003 but has never been lived in, and is located in the first phase of the Island Estates community. The community has intracoastal views, a 24-hour guard service and private bridges. Looks like whoever bought it overpaid, though — it has a mere six bedrooms. Come on!
Bay Colony 10 LLC has sold a home at 2 Bay Colony Dr. in Fort Lauderdale for $3.5 million, although the list price at sale was $4.97 million. The six-bedroom, seven-bath home has 80 feet of water frontage, and was on the market for two years while under construction. Proving that even a vacant lot can fetch seven figures if we’re talking about waterfront real estate, prior sales for this property include one in August 2002 for $1,122,000 as land only and another in May 2000 for $1,070,000.
A Deerfield Beach in the Ocean Vue subdivision has sold for $4.2 million, or $1,418 a square foot. The list price for the three-bedroom, three-bath house was $4.85 million. The home is on the beach and has 2,962 square feet of living area, with plans for an additional 1,000 square feet already approved. This peace of prime Florida real estate was on the market for three months before being snatched up. One can only wonder if a jumbo Florida home loan was needed.
