Top 3 Most Expensive Miami Beach Homes sold in June 2011

There were 23 Miami Beach homes sold in June of 2011. Sales prices ranging from $170,000 for a bank owned foreclosure in the North Beach area, to $5 million for a Sunset II remodeled home mentioned below.  June’s Miami Beach sales keep showing an improvement in the housing market with 8 of the 23 sales being above $1 million and 7 of those sales being distressed.  We keep seeing sales above the $3 million mark which also means mega luxury Miami Beach homes are moving!

June’s Most Expensive Miami Beach Home Sale

1410 W 25 St – Miami Beach, FL 33140

Listed for $5,499,000 and sold for $5,000,000 on June 7th, 2011

This home was featured in our Miami Beach Housing Report – first half of 2011.  Located on the South East corner of Sunset Island II, completely remodeled, meticulously landscaped and with 100 feet of water frontage.  The house was purchased for $6.5 Million in 2005 and sold at a $1.5 Million loss.  The selling description read:

GREAT MIAMI BEACH WATERFRONT ESTATE WHERE QUIET COLORS CREATE A BOLD IMPACT YET A RELAXED SENSE OF INDULGENCE. BEST DESCRIBED AS THE HOUSE THAT BECOMES YOUR HOME, THIS BEAUTIFULLY REMODELED FIVE BEDROOM, (WITH OPTION TO USE THE STUDY AS A SIXTH BEDROOM) AND SIX AND ONE HALF BATH ISLAND OASIS, EXUDES TRANQUILITY AWASH A SEA OF WIDE-OPEN SPACES, LUSH TROPICAL LANDSCAPING AND 100 FEET OF WATERFRONT FRONTAGE.  A STONE-THROW AWAY FROM THE OPEN BAY!

Features:

• 5,920 sf of living space
• built in 1955 and completely remodeled
• 100′ X 202′ LOT (20,200 sf)
• 5 bedrooms / 6.5 bathrooms
• 100′ of water frontage (no fixed bridges to bay)
• private dock
• heated pool
• Sunset Islands location
• 2-car garage

June’s second Most Expensive Miami Beach Home Sale

1601 W 24 St – Miami Beach, FL 33140

Listed for $4,250,000 and sold for $4,250,000 on June 8th, 2011

Another Sunset Island Home.  This on located on the North side of Sunset Island III, also with no fixed bridges to Biscayne Bay.  Completely renovated by Wallace Tutt on a 25,000+ lot with tennis court.  (I would have imagined Anna Kournikova in this house for sure).  The home was listed in March of 2001 and was under contract in one week!  The selling description reads:

Sunset Island #3 residence, completely and tastefully renovated by Wallace Tutt and featuring a lighted tennis court, separate guest house, pool pavilion. New dock and seawall, split bedroom plan with separate apartment. Quality finishes and lavish touches throughout. All newly installed appliances, electrical and plumbing systems, doors and windows, impact glass and much, much more. Never occupied since recently completed renovation, turn-key in every respect.

Features:

• 7,202 sf of living space
• 144′ X 175′ lot (25,200 sf)
• 5 bedrooms / 5.5 bedrooms
• built in 1937 and completely remodeled
• 144′ of water frontage
• private dock
• heated pool
• 2-car garage
• Sunset Islands location
• turn-key

June’s Third Most Expensive Miami Beach Home Sale

126 W San Marino Dr– Miami Beach, FL 33139

Listed for $3,999,000 and sold for $3,400,000 on June 24th, 2011.

Here’s the perfect example of how Venetian Island Homes are increasing in price like no other island in Miami Beach.  Spacious house with amazing views with tired finishes in need of updating – selling above $700/square foot.  Located on the West side of San Marino Island (South of the Venetian Causeway), with amazing views of The Miami skyline.   This home was listed in February of 2011 and was under contract in less than a month.  The selling description simply reading:

Located on the secluded southwest side of San Marino Island on the Venetian Causeway in Miami, discover this beautiful 2-story home on a manicured 15,750 square foot bayfront lot. The best bay and downtown Miami views. Huge backyard and separate guest apartment with kitchen.

Features:

• 4,472 sf of living space
• 90′ X 175′ lot (15,750 sf)
• built in 1937
• 4 bedrooms / 3 bathrooms
• 2-car garage
• 90′ of water frontage
• Venetian Islands location
• pool
• private dock

**all information obtained from the SouthEast Florida Multiple Listing Service**

2009 Miami Beach Home Sales for The Sunset Islands

The Sunset Islands are the epitome of Miami Beach Luxury Real Estate, starting with Sunset I. Historically homes in the Sunset Islands hold their value better than other nearby islands because of access, security and proximity to South Beach’s “action” but far enough to have privacy.

There have only been 4 sales this year in The Sunset Islands

Address	Bds	Bths	HBth	sqft	Water	Lot Size	List Price	Sale price	$/sq.ft
1400 W 28 St	7	7	1	9.933	Y	20.000	$15,900,000	$9,500,000	956
1727 W 27 St	4	6	1	6,244	Y	20,000	$8,250,000	$6,000,000	961
1401 W 22 St	4	5	1	4,576	Y	13,275	$3,200,000	$2,734,500	598
1600 W 24 St	4	4	1	3,453	N	11,858	$2,399,000	$2,100,000	608

The highest sale was at Sunset Island I (the most desired of all Sunset Islands) for $9,500,000 – this house was listed since July 2008 and originally priced at $15,900,000 (that’s a discount of over 40%). The lowest sale was a dry lot property located in Sunset Island III – located at 1600 W 24 St, selling for $2,100,000 and listed on and off since September 2008 with an original price of $2,495,999. It may have been the lowest priced sale, but sold for more per square foot than the immaculate waterfront home at Sunset Island 4.

The average price per square foot this year comes down to $780.75 – please note that none of the sales were open bay homes – an appraiser would pull comparables from North Bay Road homes because of the lack of sales in The Sunset Islands. At least we saw 2 homes above the $5,000,000 range actually sell which is something we can’t say about The Venetian Islands.

Miami Beach Luxury Real Estate – Sunset Islands

This may sound a bit out there, but there is a reason why the Sunset Islands in Miami Beach were named that way… imagine catching perfect sunsets every evening from your backyard? This property is located on Sunset Island IV (which is the least chic of the 4 Sunset Islands according to many, but at least this home sits on the “good side” of the island and with perfect views of the bay with a bit of protection from the elements).  Before you jump down my throat about my political incorrectness – the South side of Sunset IV faces condos and is a narrower canal, thus my statement.  It’s tough to dump a couple of million dollars on a house that faces a bunch of condos.  This house, on the other hand, sits on the North West end of the island, with flawless views.

1649 W 22 Street – Miami Beach, FL 33140

Listed for $5,875,000

The Deco House sure has some history and has had a great deal of celebrities through its doors.  One thing is for sure, it is in need of some updating – starting from the floors, handrails and giving the overall house a nice face-lift – but it does not take away the fact that the house is spectacular, starting from it’s 20,000 square foot piece of property in Prime Miami Beach Real Estate.  The home has been listed since May of 2009, with a starting price of $6,150,000.  The MLS description reads as follows:

This home is known locally as the Deco House and one of the most beautiful homes on the Beach. Prior to the current owners, this is the home that such famous actors as Jennifer Lopez, Sean Combs, and Will Smith have rented while visiting South Beach. It has such a beautiful setting that it has also been used in many magazine layouts. Built in 1987, the Deco Home has solid cement floors and is extremely well constructed. The main room has soaring 18 ft. ceilings and a glass staircase.

Property Features:

• 5,000 square feet of living space
• Built in 1988
• 5 bedrooms / 4.5 bathrooms
• 19,812 square foot lot
• 3-car garage
• waterfront – no fixed bridges to ocean
• private dock
• pool
• private sunsets
• Terrazzo, tile, marble and wood floors
• media room
• Sunset Island Number 4

**property information courtesy of South East Florida Multiple Listing Service and Addvantage Real Estate Services **