Top Residential Deals in South Florida for 2024: The Biggest Sales So Far
August 2, 2024While only some have $60 million to spend, those who do can afford luxuries like yachts or private jets. However, investing that amount in a South Florida mansion wouldn’t place you among the top real estate deals in the area this year.
Luxury real estate prices in the tri-county region soared during the pandemic, driven by lax public health restrictions, low taxes, and remote work opportunities that attracted wealthy buyers. Although deals have slowed since then, prices continue to climb, with local records consistently being broken. For instance, former convenience store mogul Steve Buchanan sold his oceanfront Highland Beach mansion for a record $50 million in May, while Constant Contact founder Randy Parker sold his Boca Raton estate for $36 million the same month.
Other potential record-setting deals are pending. For example, Witkoff and Monroe Capital are reportedly contracted to sell a penthouse in their planned Shore Club Private Collection—a condo and hotel development in Miami Beach under the Auberge Resorts Collection brand—for $120 million. If it closes at that price, it would set a record for condo sales in Miami-Dade County and all of Florida. Ideavillage founder Anand Khubani is rumored to be under contract to buy three waterfront properties on La Gorce Island for $100 million, potentially setting a price record for the island.
The winter and spring seasons typically see a surge in South Florida real estate activity. This year, price reductions led to several closings in April, May, and June. As the region’s busy season concludes, here are some of the most notable deals so far this year:
- $152M | 10 Tarpon Isle, Palm Beach | Sellers: Todd Glaser and partners
- $87M | 28 Indian Creek Island Road, Indian Creek Village | Buyer: Jeff Bezos
- $85M | 108 El Mirasol, Palm Beach | Seller: Anand Khubani
- $74.3M | 740 Hi Mount Road, Palm Beach | Buyer: Harvey Jones
- $64.5M | 40 Indian Creek Island Road, Indian Creek Village | Seller: Geert-Jan Bakker
- $62.5M | 98 La Gorce Circle, Miami Beach | Seller: Philippe Harari