South Florida Luxury Oceanfront Real Estate Continues to Grow while Values Increase!
An undisclosed buyer has closed (July 25, 2012) on a $24.6 million purchase of a combination of five units at the St. Regis Bal Harbour Resort & Residences. It is the single-largest transaction at the St. Regis Bal Harbour, which officially opened its doors in January.
Considered as one unit, the deal is the second-largest condominium sale in Miami-Dade County, following the $25 million purchase of a unit by an Italian buyer at South Beach’s Continuum South Tower in May.
The St. Regis in Bal Harbour sales have been reported to be in excess of $624 million in sales through mid-June of 2012, with many of those sales occuring during the construction of this luxury property and during the recent downturn in the U.S. real estate market.
The units puchased in this recent deal, collectively total 16,430 square feet under air and 21,176 square feet overall. According to those close to this purchase, the current 5 separate units may be combined into one large residence in the very near future.
Prior to the Continuum $25m purchase and now this $24.6m purchase, the previous Miami-Dade condominium purchase record had been set by the $21.5 million sale of a top floor penthouse at the oceanfront Setai South Beach condominium in 2011.
Photo's shown below are not from this sale. The below photos are recent photo's of new St. Regis model units
Luxury Real Estate sales continue to grow in South Florida. View a selection of 100 luxury oceanfront and waterfront condominium properties from South Beach to Palm Beach on my Linda G Properties South Florida luxury real estate website.
View my complete St. Regis Bal Harbour Resort & Condominium Residences web page HERE.
About LINDA "G" Gustafson of ONE Sotheby's International Realty in Miami Beach
With 20 years selling luxury real estate, Linda "G" has been privileged to not only work with the world's most affluent clientele, but with the leading developers and luxury homebuilders on the East coast. She is heading up her own team of professionals who serve the upper echelon of luxury homebuyers and property owners in the South Florida market with One Sotheby's International Realty in Miami Beach.
Linda sold on-site for WCI Communities at BellaMare on Williams Island in Aventura and at one of the newest and most luxurious oceanfront condominiums in Bal Harbour at One Bal Harbour. She was the Top Producer four years consecutively at One Bal Harbour and a National Top Producer for WCI for six years consecutively.
After years of dedication to providing the absolute best in real estate services to many of her valued clients, Linda was privileged to win the prestigious Prudential WCI Realty Chairman's Circle Platinum Award for two consecutive years, as well as the Overall Top Producer status nationally 6 years consecutively. Her clientele's demand for specialized training and knowledge as a real estate professional also assisted her to become a proud and select member of the Institute of Luxury Home Marketing, where she received the Million Dollar Guild Award for multiple million-dollar-plus transactions.
Linda "G" has achieved Top Producer status at ONE Sotheby's International Realty in Miami Beach for the last 2 years.