Flash and cash are market fundamentals in Miami.
“A few years ago I used to know a few billionaires here, now I meet them all the time,” said Julian Johnson, a broker with Corcoran who is repping a seven-bedroom mansion at 24 South Hibiscus Drive on Miami Beach for $40 million.
It was 2021’s post-lockdown property grab in Greater Miami, led by New Yorkers craving expansive newly built properties with open ocean views and sunshine — lots of sunshine — that really sent prices silly. All you have to do is look at Ken Griffin’s record-breaking $106.87 million deal for a 4-acre Coconut Grove estate last fall to know that things aren’t going back to “normal.”
True, buyers gained more bargaining power as prices softened somewhat by the end of 2022. Even that 4-acre Coconut Grove estate sold far shy of the original asking price of $150 million. But bargains are still few and far between. A lack of inventory and high demand are keeping the market bubbling.
Here’s a look at the ambitious listings, boldly going where none have gone before and seeking record-setting figures in Miami.
La Gorce Circle, Miami Beach
Listing price: $150 million
Ready to create a compound? A portfolio of four adjacent properties in the A-list enclave of La Gorce Island could set a transaction record if its meteoric asking price is reached.
A mini-village, the waterfront properties at Nos. 16, 18, 22 and 24 include three individual homes and an additional parcel featuring a beautiful private park called La Domaine de la Paix et de l’Amour.
Totaling around 3 acres, this sweet suite of real estate treats has 600 feet of water frontage, and five-bedroom, seven-bathroom and two-bedroom houses.
“This is the most incredible assemblage of properties in all of Miami Beach,” said agent Jill Eber, who is repping the properties with the Jills Zeder Group of Coldwell Banker.
355 Ocean Drive, Golden Beach
Listing price: $100 million
Perhaps Miami’s most touted listing, this nine-bed, 11-bath, 30,000-square-foot manse is the largest single-family, single-plot beachfront property in Miami. It’s on the market for the first time in 40 years and is being sold as a gutted “blank canvas,” said agent Dina Goldentayer of Douglas Elliman who is co-listing the property with Ryan Serhant.
“These legacy properties come to market so rarely,” she said.
Tennis court, pool and bowling alley — name the amenity and it’s got it. It also has 250 feet of ocean frontage: “Bigger is better,” said Goldentayer.
Aston Martin Residences Miami, Penthouse
Listing price: $59 million
Fewer than a dozen units remain for sale out of the 391 luxury spreads at the 66-story Aston Martin Residences Miami. Due for completion this year, and located on the Downtown Miami waterfront, the project is the “Bond” car brand’s first real estate venture.
This 20,000-square-foot penthouse has its own private elevator and three full floors housing seven bedrooms, eight bathrooms, and a wraparound terrace on each floor. A private pool, a gym, a spa and a custom-built garage are included.
Bonus: the buyer receives the last limited-edition Aston Martin Vulcan race car, valued at $3.2 million. If it sells at ask, it would obliterate the condo sales record in the area. Cervera Real Estate is marketing the building.
Waldorf Astoria Miami: Upper penthouse
Listing price: $23.65 million
Sitting on the 90th floor of Miami’s first supertall tower — the tallest residential building south of New York City, due for completion in 2027 — this 6,701-square-foot, five-bedroom, seven-bathroom condo offers incredible views from its balcony, top-notch owners-only amenities and more at the Waldorf Astoria Miami Hotel below. Residences are already 90% sold.
“Here, three things are coming together: the stunning views and the location, the incredible level of interior finishes and a luxury brand with a high level of service,” said sales agent Alejandra Castillo of PMG Residential, who is listing the property. “There’s also the privacy of being on the 90th floor.”
24 South Hibiscus Drive, Miami Beach
Listing price: $40 million
This Mediterranean-style Hibiscus Island gem is fresh on the market after a massive $18 million renovation of the 9,000-square-foot living space.
The seven-bedroom, seven-bathroom single-family home features an open floor plan and multiple rooftop terraces that capture sunset views throughout the 20,000 square feet of outdoor waterfront play space.
“This is why people move to Miami: indoor-outdoor beachfront living,” said agent Julian Johnston of the Corcoran Group.
The Residences at Shell Bay: Penthouse B
Listing price: $10.5 million
Penthouse B sits atop this 21-story tower and offers four bedrooms, three baths and a potential record for Hallandale Beach.
The 4,546 square feet of interior space are augmented by an additional 2,909-square-foot rooftop terrace, which includes a plunge pool, a loggia, a kitchen and an elevator.
Due for completion in 2025, residents have the benefits of the Auberge Collection-managed attached resort and its Greg Norman championship golf course, tennis courts, private yacht club and wellness spa.
Darin Tansey of Douglas Elliman has the listing.
Ex-Brit turned Manhattan resident since 2008.