In the past six months, Miami Beach has witnessed a resurgence in sales activity for price reduced waterfront single family homes. I’d like to highlight a recent sale on Miami Beach’s Sunset Island IV.
This sale is significant for me personally, since this it’s a home that I sold in 2005. It illustrates the amazing value that a qualified buyer will be able to get for a premium waterfront home on a guard gated island community in Miami Beach. The two southernmost islands of the four are Sunset III and IV. Magnificent sunsets can be seen from some of the Sunset III and IV homes. These two islands are connected to South Beach and are a five minute walk from Lincoln Road.
1450 West 21st Street (Sunset Island IV)
This is a two story waterfront home on Sunset Island facing towards the Sunset Harbour townhomes in South Beach. This custom designed charming home features an oversized master bedroom. Home was in need of an update, as the finishes were from the early 80′s. 60 linear feet of water frontage with dock.
Sold Price: $1,300,000
Original “For Sale” Price : $2,300,000 (6/2009)
Previous “Sold” Price (6/2005) : $1,950,000
Bedrooms: 4
Bathrooms: 4
House S.F.: 3,265 ($597/SF)
Land S.F.: 8,700 ($149/SF)
Sold Date: February 16, 2010
Discount from Previous Sales Price in 2005: 33%
