Oil recycling entrepreneur Steven Lempera has secured a buyer for his waterfront mansion in Gables Estates, listed at $54.9 million. Lempera originally acquired the property for $25.5 million at auction in 2019, following the sale of his company to Patrick Dovigi’s GFL Environmental.
The pending transaction is part of a broader trend in Miami-Dade County’s luxury real estate market. According to the latest Eklund-Gomes report, 16 contracts were signed between August 25 and August 31 for homes and condos priced at $4 million or more that are included in the Multiple Listing Service. The average time these properties spent on the market was 180 days.
During this period, 23 new luxury listings were added, bringing the total number of such listings to 1,119.
In comparison, buyers signed contracts for nine properties in Miami-Dade during the previous week, with a combined asking price of $92.3 million.
The most recent group of single-family homes under contract had an average asking price of $14.8 million and were on the market for an average of 142 days. Their total asking dollar volume reached $133.2 million.
Lempera’s eight-bedroom, nine-and-a-half-bathroom estate is represented by Eddy Martinez and Roland Ortiz of One Sotheby’s International Realty. The property covers 1.2 acres on a point lot and features amenities such as a pool, hot tub, outdoor kitchen, and dock. Built in 2018, it offers nearly 19,000 square feet of interior space.
Another notable transaction last week was a waterfront home at 2288 Sunset Drive in Miami Beach entering into contract as the second-highest-priced house. The Sunset Islands property spans 6,581 square feet on a third-acre lot and includes seven bedrooms and nine and a half bathrooms. Built by Todd Michael Glaser and listed with Nelson Gonzalez of Berkshire Hathaway HomeServices EWM Realty, it is priced at $29.5 million. Records indicate ownership by a company managed by Tom Del Bosco of Smith Management, associated with Alden Global Capital.
The condos that found buyers last week averaged an asking price of $8.8 million and typically spent 229 days on the market. Their total asking dollar volume was $61.8 million, averaging $2,703 per square foot.
Martinez and Ortiz are also listing unit 38 at Regalia in Sunny Isles Beach—the highest-priced condo to go under contract last week—at $15.9 million for its four bedrooms and six bathrooms across nearly 5,000 square feet at 19575 Collins Avenue. Records show Regalia 38 LLC bought this unit for $10.2 million in 2022.
For comparison outside Florida, New York saw buyers sign contracts for another set of 16 homes last week according to the Olshan report; their combined asking price totaled $111.5 million with an average market time of over three years per property.
