Despite the latest troubling economic headlines coming out of Europe and U.S. overall economic indicators, premier waterfront properties continue an upward sales trend. The latest example of this is a sale that just took place in Bay Point in Miami. I’m going to deviate from my usual pattern of only focusing on Miami Beach sales here, since this latest sale is indicative of the overall trend with premier waterfront properties located either in waterfront or island communities in Greater Miami.
This trophy home on Bay Point is located on a double sized lot! This eight bedroom American traditional estate has 175 feet of deep water frontage. Boat lift, protected harbour with no bridges to the Bay, this home was meticulously renovated and features wood burning fireplaces, an oversized pool and hot tubs. Exercise Room, two car garage, courtyard entryway for multiple parking and walking gardens throughout the property. This home had not been on the market in 23 years and is one-of-a-kind!
Sold Price: $6,770,000
Original “For Sale” Price : $8,990,000 (2/2010)
Previous “Sold” Price (1/1998) : $1,600,000 (1988)
Bedrooms: 8
Bathrooms: 10
House S.F.: 10,841 ($624/SF)
Land S.F.: 30,823 ($219/SF)
Sold Date: June 28, 2010
Total Time on Active Market: 304 Days
