🏆 Residential: The top home sale to hit records in South Florida was in Miami, where the 4,400-square-foot at 733 Belle Meade Boulevard changed hands for $9.2 million. The seller was an LLC tied to entrepreneur Andrew Sieja and his wife,philanthropist Jessica Sieja. The buyer was Joshua Keller. The waterfront property has five bedrooms and five and a half bathrooms. It last sold in 2021 for $8.3 million. It went on the market in January for $10 million. Miltiadis Kastanis with Compass had the listing, and Dan Hechtkopf, also with Compass, brought the buyer.
🏆 Commercial: The priciest commercial deal was in Hollywood, where the hotel known as the Rooftop Resort at 1215 North Ocean Drive sold for $6.9 million. Built in the 1970s, the property spans 16,500 square feet and has 34 rooms. The seller was an LLC tied to Pamela Riccio and the buyer was an LLC managed by Michael Delouya, Thierry Cohen and Daniel Benhamou. The Rotella Group had the listing.
📊 Residential: In Miami Beach, a 4,500-square-foot condo at 1011 West 48th Street sold for $8 million or roughly $1,800 per square foot. The seller was a company managed by Ansir Junaid, founder of the Junaid Group, which operates business across a range of industries from real estate to healthcare, and the buyer was an entity led by Robert Curran. The unit, which has four bedrooms and four and a half bathrooms, previously sold in 2023 for $8.3 million. Its most recent asking price was $9.5 million. One Sotheby’s International Realty’s Chelsea Werner had the listing, and Ximetta Mires with Global Luxury Realty represented the buyer.
By the Numbers: Number of underwater homes in the US reached 2M
The number of underwater homes in the U.S. is rapidly growing.
For the first time since 2021, the number of homes where loan balances sit at least 25 percent higher than a property’s estimated market value passed the 2 million mark. The figure represents a 15 percent year-over-year increase, according to a new report from real estate analytics firm Attom.
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