A trust in the name of Solly Azar, known for developing the wholesale insurance brokerage model and founding the Solly Azar Insurance Group, has secured a buyer for a condominium at Oceana Bal Harbour with an asking price of $35.9 million. The four-bedroom, four-and-a-half-bathroom unit spans 7,442 square feet and is listed at $4,824 per square foot. Ruthie and Ethan Assouline and Eytan Namiech of Douglas Elliman are marketing the property, while Joelle Oiknine’s team at One Sotheby’s International Realty represents the buyer. Records show that Azar paid $16.3 million for the two units comprising Unit 2601 when the building was completed in 2017.
According to the latest Eklund-Gomes report from Douglas Elliman, nine contracts were signed for homes and condos priced at $4 million or more in Miami-Dade County between August 18 and August 24. This marks the third consecutive week with nine such contracts. The properties spent an average of 114 days on the market during this period.
The report indicates that seven single-family homes and two condos under contract last week had a combined asking dollar volume of $92.3 million. The two condos totaled $41.4 million in asking volume with an average price per square foot of $3,119, while spending an average of 168 days on the market.
In addition to condo sales, single-family homes that went under contract last week averaged an asking price of $7.3 million and were on the market for about 98 days each, totaling $50.9 million in asking dollar volume.
The highest-priced single-family home under contract is located at 3976 Little Avenue in Miami’s Coconut Grove neighborhood. The six-bedroom, six-bathroom house is listed by Judy and Nathan Zeder of Coldwell Banker’s Jills Zeder Group for nearly $13 million. It previously sold for $5.1 million in 2021.
Across all luxury listings, thirty-eight new properties were added to the Miami-Dade market last week, bringing total inventory to 1,141 listings.
For comparison, New York saw buyers sign contracts for 22 homes last week with a combined asking price of $150.9 million; these homes spent a median of nearly three years on the market.
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