In the past thirty days, we have witnessed the successful sales of six luxury and / or waterfront homes in the South Beach area of Miami Beach. The waterfront home sales: two on Hibiscus Island, one of an estate on Star Island, and two on the Venetian Islands chain that connects Miami with Miami Beach.
Below is a summary of these latest closed sales of waterfront Miami Beach homes, all of which have closed at substantially reduced prices from a few years ago:
Star Island – Home to the celebrity estates
This bayfront estate offers over 200 linear feet of prime water frontage with the utmost security and privacy. Located minutes from South Beach and downtown Miami, this was the most inexpensive home available for sale on Star Island. Neighbors include Gloria Estefan and Rosie O’Donnell!
Sold Price: $7,250,000
Original “For Sale” Price : $8,750,000 (3/2007)
Previous “Sold” Price (8/2008) : $8,100,000
Bedrooms: 6
Bathrooms: 6
House S.F.: 48,266 ($150/SF)
Land S.F.: 6,000 ($1,200/SF)
Sold Date: February 25, 2010
Discount from Previous Sales Price in 2008: 11%
Miami Beach’s Hibiscus Island – Renovated Waterfront Estate
Located on one of Miami Beach’s premier gated island communities, this oversized and completely renovated waterfront home features great location and amazing views of the water, a private elevator, and much attention to details throughout.
Sold Price: $3,300,000
Original “For Sale” Price : $4,495,000 (2/2009)
Previous “Sold” Price (9/2005) : $3,700,000
Bedrooms: 4
Bathrooms: 5
House S.F.: 4,578 ($720/SF)
Land S.F.: 10,500 ($314/SF)
Sold Date: February 19, 2010
Discount from Previous Sales Price in 2005: 11%
Hibiscus Island – Exquisite Finishes – An Award Winning Home
Sold Price: $2,850,000
Original “For Sale” Price : $4,690,000 (1/2006)
Previous “Sold” Price (1985) : $479,000
Bedrooms: 3
Bathrooms: 4
House S.F.: 4,256 ($669/SF)
Land S.F.: 10,500 ($271/SF)
Sold Date: March 19, 2010
DiLido Island- Authentic Mediterranean home with European handcrafted details
These Venetian Island homes represent a true waterfront value, located on one of Miami Beach’s best residential island communities- The Venetian Island chain connecting Miami and Miami Beach. Priced right, this home was on the active market for only 36 days!
Sold Price: $1,825,000
Original “For Sale” Price : $2,195,000 (2/2009)
Previous “Sold” Price (1992) : $475,000
Bedrooms: 4
Bathrooms: 3
House S.F.: 3,000 ($608/SF)
Land S.F.: 10,500 ($173/SF)
Sold Date: March 26,, 2010
Rivo Alto Island Home
Totally renovated in excellent condition with oversized Boat Dock. This is the least expensive renovated waterfront home recently sold on the Venetian Island chain.
Sold Price: $1,625,000
Original “For Sale” Price : $2,399,000 (2/2009)
Previous “Sold” Price (2002) : $1,375,000
Bedrooms: 3
Bathrooms: 3
House S.F.: 2,986 ($544/SF)
Land S.F.: 10,500 ($154/SF)
Sold Date: March 12, 2010
Note: Sales data courtesy of SouthEast Florida Regional MLS
