Not everyone has $60 million to spend, but for those who do, it can get you a few things like a decent yacht or private jet (ask Adam Neumann). But if you spent it on a South Florida mansion, it wouldn’t land you in the top five this year’s priciest deals in the area.
Prices for luxury real estate in the tri-county region ballooned during the pandemic, when lax public health restrictions, low taxes and remote work fueled an influx of wealthy buyers. Years later, the pace of deals has slowed but prices keep inching higher. And local deal records are consistently broken; former convenience store mogul Steve Buchanan sold his oceanfront Highland Beach mansion for a record $50 million in May, and Constant Contact founder Randy Parker sold his family’s Boca Raton estate for a record $36 million that same month.
Other potentially record-setting deals are still pending. Witkoff and Monroe Capital are reportedly in contract to sell a penthouse in their planned Shore Club Private Collection, an Auberge Resorts Collection-branded condo and hotel development in Miami Beach, for $120 million. If it closes for that price when the project is completed, it will likely set a record for condo sales in Miami-Dade County and for all of Florida. Ideavillage founder Anand Khubani is rumored to be in contract to buy a trio of waterfront La Gorce Island properties for $100 million, which would be a price record for the island.
Winter and spring are when activity spikes for South Florida real estate, and this year price cuts precipitated a wave of closings in April, May and June. With the region’s busy season in the rearview mirror, here are the five biggest deals so far this year:
$152M | 10 Tarpon Isle, Palm Beach | Sellers: Todd Glaser and partners
Spec developer Todd Glaser sold the 2.3-acre Tarpon Island in Palm Beach for $152 million at the end of May, making it the priciest residential sale in the state so far this year. Glaser and his investment partners bought the island for $85 million in 2021, and first listed it for $218 million in 2022. They renovated and expanded the mansion to nearly 24,000 square feet, with 11 bedrooms, 15 bathrooms and seven half-bathrooms. The private island also has two pools, a dock, a lighted tennis court, a catering kitchen and a wellness wing with a cold plunge, steam room, sauna, salon parlor, massage room and gym.
Suzanne Frisbie of the Corcoran Group and Chris Leavitt of Elliman had the listing, and Margit Brandt of Premier Estate Properties brought the buyer.
$87M | 28 Indian Creek Island Road, Indian Creek Village | Buyer: Jeff Bezos
Jeff Bezos dropped $87 million on the waterfront 10,000-square-foot mansion at 28 Indian Creek Island Road in May. It was his third purchase on the guard-gated private island, bringing his total spend on Indian Creek properties to $234 million. Bezos bought 11 and 12 Indian Creek Island Road in two separate deals last year, and is tearing down the existing mansions to build a new estate. In the meantime, he and fiancé Lauren Sanchez plan to live at the 2-acre 28 Indian Creek Island Road, which has seven bedrooms, seven bathrooms, a pool and a dock. It was built in 1956, and expanded in 1986 and again in 2014. The seller, former banker Javier Holtz, bought it for $2.5 million in 1998, according to property records.
$85M | 108 El Mirasol, Palm Beach | Seller: Anand Khubani
Khubani sold an oceanfront vacant one-acre lot for $85 million in April, making it the third-most expensive South Florida deal so far this year. The true buyer is unknown. Khubani and his wife, Neeta Khubani, bought it for $12.7 million in 2005, property records show.
Lawrence Moens of Lawrence A. Moens Associates represented the Khubanis, and Dana Koch of Corcoran brought the buyer.
$64.5M | 40 Indian Creek Island Road, Indian Creek Village | Seller: Geert-Jan Bakker
Dutch magnetics heir Geert-Jan Bakker sold his longtime waterfront Indian Creek estate for $64.5 million in an off-market deal in May. The true buyer is unknown. His parents were the founders of Bakker Magnetics, a magnetic product maker based in the Netherlands. Bakker bought the 1.2-acre compound for $9.3 million in 2010, records show. It was built in 1991, and includes a 7,500-square-foot house with seven bedrooms, eight bathrooms, two half-bathrooms, a pool and a dock.
In June, he bought a waterfront Coral Gables mansion for $23.5 million.
$62.5M | 98 La Gorce Circle, Miami Beach | Seller: Philippe Harari
Spec developer Philippe Harari’s AquaBlue Group sold the waterfront mansion at 98 La Gorce Circle to a U.K.-based entity for $62.5 million last month. Harari bought the 0.8-acre property for $9.3 million in 2019, and completed the 12,800-square-foot mansion last year. The house has seven bedrooms, 10 bathrooms, three half-bathrooms, a spa, gym, wine cellar, pool and dock. One of the priciest deals of the year, it is also among the most expensive homes ever sold on Miami Beach’s La Gorce Island.
Mirce Curkoski and Albert Justo of the Waterfront Team at One Sotheby’s International Realty had the listing, and Jill Eber of the Jills Zeder Group at Coldwell Banker Realty represented the buyer.
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