South Florida’s luxury residential real estate market in 2025 has seen a clear divide, with ultra-high-end sales dominated by billionaires while the broader housing sector faced challenges. This year marked a notable shift as the state’s most expensive home sale occurred on Florida’s west coast rather than its traditional east coast stronghold.
In April, the DeGroote family sold their waterfront estate in Naples for $225 million. This transaction set a new price record for Florida and became the second-most expensive home sale ever recorded in the United States, surpassing Larry Ellison’s $173 million Manalapan purchase from 2022.
Within South Florida’s tri-county area, billionaire William Lauder completed an off-market sale of an oceanfront lot in Palm Beach. Sources identify the buyer as Charles Simonyi, known for creating Microsoft Excel. The land was part of a larger $350 million assemblage on Palm Beach Island. According to sources, the final price for the 2.3-acre property exceeded $160 million. Lauder had acquired it between 2019 and 2020 for $66.3 million and listed it at $177.8 million.
Christian Angle of Christian Angle Real Estate represented the seller, while Ryan Serhant of Serhant brought in the buyer.
Additional transactions related to this assemblage included an $18 million deal at 1066 North Ocean Boulevard and a $30 million sale at 1072 North Ocean Boulevard.
Other major sales include billionaire Vlad Doronin selling his Star Island estate in Miami Beach to Michael Ferro of Merrick Ventures for $120 million—a record price for that area. Doronin originally bought this property from Shaquille O’Neal for $16 million in 2009.
Two properties tied as Miami-Dade County’s third-most expensive home sales: A waterfront lot at 9 Indian Creek Island Road sold by Mikhail and Mariana Peleg fetched $105 million; another estate at 5940 North Bay Road was purchased by developer Todd Glaser and Posner Group for an identical amount. Glaser and his partner plan to either resell or redevelop that property with future listing prices projected up to $300 million.
Nelson Gonzalez (Berkshire Hathaway HomeServices EWM Realty), Zachary Vichinsky, and Brett Harris (Bespoke Real Estate) are among those handling these listings.
Jorge Mas sold a Coral Gables compound near Kampong Botanical Garden this year through an off-market transaction; sources report Mas acquired it earlier this year with intentions to flip it, though details have not yet appeared in public records.
William Wrigley Jr., heir to the chewing gum fortune, sold two adjoining parcels totaling 2.5 acres in North Palm Beach’s Lost Tree Village community for $97.5 million—an all-time high for both Lost Tree Village and possibly North Palm Beach itself.
The most expensive single-family home sale on Palm Beach Island after Lauder’s deal was Jerry Jordan’s lakefront estate at South Lake Trail, which went for $86.5 million after being purchased by Jordan and his wife Darlene Jordan in 2000 for just $14 million.
In condo sales, Fort Partners led by Nadim Ashi achieved Miami-Dade County’s highest-ever condo transaction: An unnamed buyer paid $86 million for a penthouse at Seaway at the Surf Club—part of Four Seasons Residences—with access to multiple pools and exclusive amenities designed by Joseph Dirand and Peter Wirtz.
Hedge fund manager Nick Maounis bought a waterfront mansion on La Gorce Circle for over $74 million from Germany’s Kollman family; Maounis is noted as founder of Amaranth Advisors which collapsed dramatically in 2006 due to heavy losses on natural gas futures trading.
Ric Elias, CEO of Red Ventures, also closed an off-market sale of his oceanfront mansion on South Ocean Boulevard after acquiring it five years ago; Jack Rooney (Douglas Elliman) handled both sides of that transaction.
Finally, Patrick Dovigi sold his Bal Harbour residence along Bal Bay Drive this March for nearly $70 million—a significant increase over its previous purchase price two years prior from Shari Arison’s family.
