A trust associated with Solly Azar, a French insurance entrepreneur known for creating the wholesale insurance brokerage model, has found a buyer for a Bal Harbour condominium listed at nearly $36 million.
According to the Eklund-Gomes report, which monitors homes and condos priced at $4 million or more in Miami-Dade County that are included in the Multiple Listing Service, buyers signed nine contracts between Aug. 18 and Aug. 24. This marks the third consecutive week with nine contracts signed. On average, these properties were on the market for 114 days.
During this period, 38 new luxury listings were added to the market, bringing the total to 1,141 listings.
The previous week also saw nine contracts signed for properties in Miami-Dade County with a combined asking price of $62.7 million.
The latest report from Douglas Elliman’s team led by Fredrik Eklund and John Gomes states that seven single-family homes and two condos under contract last week had a total asking dollar volume of $92.3 million. The two condos averaged an asking price of $20.7 million each and were on the market for an average of 168 days. Together, their asking dollar volume was $41.4 million, averaging $3,119 per square foot.
The most expensive property under contract is Azar’s condo at Oceana Bal Harbour located at 10201 Collins Avenue. The four-bedroom, four-and-a-half-bathroom unit spans 7,442 square feet and is listed for $35.9 million ($4,824 per square foot) by Ruthie and Ethan Assouline and Eytan Namiech of Douglas Elliman’s Assouline Team. Joelle Oiknine’s team at One Sotheby’s International Realty represents the buyer. Public records show Azar paid $16.3 million for the two units that make up unit 2601 when the building was completed in 2017.
Single-family homes entering into contract last week had an average asking price of $7.3 million and spent about 98 days on the market. Their combined asking dollar volume reached $50.9 million.
The highest-priced single-family home is a six-bedroom house at 3976 Little Avenue in Coconut Grove, Miami, listed just under $13 million by Judy and Nathan Zeder of Coldwell Banker’s Jills Zeder Group. The restored Spanish colonial home on a 0.4-acre lot last sold for $5.1 million in 2021 and is owned by a trust.
In comparison, New York saw buyers sign contracts for 22 homes last week with a total asking price of $150.9 million; these properties spent an average of 993 days on the market.
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