Miami Beach Waterfront Homes Soaring Demand
Miami Beach waterfront homes are experiencing a demand like never before with a massive influx of foreign capital driving sales and rapid price appreciation. Records are falling continuously as buyer’s insatiable appetites for Miami’s signature properties continue to grow on a daily basis. This all makes sense considering the fact that beautiful waterfront mansions and Miami go hand-in-hand. When we think of Arizona, we naturally think of pretty desert homes with bountiful cacti. Aspen conjures up thoughts of estates carved into mountains, and NYC is synonymous with Trump towering apartments overlooking Central Park. For Miami, it’s all about mansions on the water – fit for celebrities and multi-millionaires.
The list of magnificent Miami Beach waterfront homes for sale offers some absolutely stunning estates that are fit for royalty in communities such as the Venetian Islands, Star Island and Indian Creek Village. The latter just made headlines again with billionaire Leroy Schecter selling his 21,746 square foot Indian Creek Village home for a cool $28 million and giving the proceeds away to charity. The new buyer was aware that Schlecter was making a handsome profit through selling for $10 million above Schecters acquisition price, but that is tolerable in today’s market. Miami Beach waterfront homes are in such high demand that incredible price escalation is accepted. The top-end of the market has no rules – it only takes one willing buyer to make a deal happen.
Miami Beach Waterfront Homes Strong Market
North Bay Road real estate continues to be a leader in sales of palatial Miami Beach waterfront homes. The community is melting-pot of the who’s who in A-List celebrity circles with Matt Damon and Shakira owning homes in the area. A 12,500 square foot spec home within the neighborhood recently sold for an astounding $20 million. This demonstrates strong confidence by a developer at the top of the market. The individual took a gamble by building an ultra-luxurious home with the best-of-the-best finished in hopes that a future buyer would pay the premium for new construction. The bet paid off quite well. And all signs point to the market continuing to stay strong.
La Gorce Island Homes Are Hot
The records continued to fall for real estate on the prestigious La Gorce Island. 34 La Gorce Circle recently sold for $14 million, which set a record for Miami Beach homes of $611 per square foot for the land and $2,889 per square foot for the home. This home sale broke the previous record of 2550 Bay Avenue (on the Sunset Islands) of $529 per square foot for the land and $2,230 per square foot for the home. La Gorce Island has long been one of the most desirable communities of Miami Beach waterfront homes with its convenient access to the ultra-prestigous La Gorce Country Club.
Venetian Islands Popularity
The Venetian Islands continue to shine stronger than ever with their incredible location along one of the most beautiful areas of Miami. Out of all of the inquires coming in to me for Miami Beach waterfront homes, the Venetian Islands are the most popular. Buyers just love the proximity to South Beach and the ease by which they can get to all of the new activity in the downtown area of Miami.
Star Island Homes Setting Records
Out of all of the waterfront homes on Miami Beach, Star Island has the most media notoriety. Records have been getting shattered there as well with 30 Star Island selling for $29 million. The sale of the 11 bedroom, 16,000-square-foot estate is just one more example of how the high-end of luxury homes continues to reset the bar amongst the most desirable waterfront private island communities on Miami Beach.