A waterfront estate in Coconut Grove is under contract for $115 million, down from its previous asking price of $135 million. This pending sale is the highest among 19 contracts signed in Miami-Dade County between December 15 and December 21, according to the latest Eklund-Gomes report. The report tracks listings of homes and condos priced at $4 million or more that are included in the Multiple Listing Service. On average, these properties spent 104 days on the market.
During this period, 45 new luxury listings were added in Miami-Dade, bringing the total to 1,313. In comparison, buyers signed 20 contracts for properties with a combined asking price of $259.3 million during the previous week.
The report by Douglas Elliman’s team led by Fredrik Eklund and John Gomes shows that last week’s single-family homes under contract had an average asking price of $20.4 million and were on the market for an average of 73 days. The total asking dollar volume for these homes reached nearly $224 million.
Banyan Ridge, a 4.5-acre waterfront compound at 3585 Anchorage Way in Miami, leads this week’s contracts. Listed with Danny Hertzberg, Jill Hertzberg, Nathan and Judy Zeder of the Jills Zeder Group at Coldwell Banker, it is being sold by the estate of Jonathan Lewis, a well-known Miami restaurateur who was also the son of Peter B. Lewis—former chairman and CEO of Progressive Insurance Company. The property includes two main residences: a three-bedroom house built for former Secretary of State William Jennings Bryan and a four-bedroom home built for Peter Lewis.
Condos that found buyers last week averaged an asking price of $10.1 million and typically spent 147 days on the market. These units accounted for a total asking dollar volume of $81.2 million, averaging about $2,525 per square foot.
A notable condo transaction involved Andrew Zaro purchasing a lower penthouse at Palazzo Del Sol on Fisher Island for $36 million including furniture; however, public records show the deed recorded just over $35 million. This sale is now considered Fisher Island’s most expensive condo trade this year. Zaro is associated with Zaro’s Bakery in New York.
The seven-bedroom unit spans 9,800 square feet and sold between roughly $3,600 and nearly $3,800 per square foot. Pierre Brondeau—executive chairman of FMC Corp., an agricultural sciences company based in Philadelphia—and his wife Melissa Brondeau were the sellers; Dora Puig from Luxe Living Realty represented them while Jorge Escasena from Luxury Living Realty represented Zaro.
For comparison, New York saw buyers sign contracts for 21 homes last week with a combined asking price totaling $137.3 million; those properties spent an average of 639 days on the market.
