The Top Ten Luxury Listings that Just Won’t Sell

The Top Ten Luxury Listings that Just Won’t Sell

Feb 04, 2015 February 04, 2015

The luxury residential market in Miami is jaw-dropping to say the least, but actually selling those properties is a different topic entirely.

“In this market, it is almost impossible to find the ‘impulsive buyer’ as we have with so many of our mid-million dollar listings,” Nancy Batchelor, Miami Beach realtor said. She believes that location, privacy, and security are the high selling points to the luxury units at the top of the market. “Buyers in this market are looking for all the bells and whistles and treat these properties like mini resorts,” Batchelor added, “so they are looking for pools with spas, outdoor loggias and summer kitchens, movie and theater rooms, large kitchens, huge masters with dressing rooms and the like.”

Following are the top 10 listings priced above $15 million that have been for sale for at least one year.

 

 

 

1. 5800 North Bay Road, Miami Beach.

With an asking price of $40 million, Jennifer Lopez’s former Miami Beach home is quite the luxurious property. The 12,000 square-foot home sold in 1999 for $5.6 million, but has traded hands quite often. The home includes a wine cellar, koi pond, theatre, and separate entrance for service vehicles.

2. 17 Indian Creek Drive, Indian Creek Village.

Sellers are asking for $35 million for this Mediterranean estate on Indian Creek Island. The price has fluctuated between $32.5 million and $38 million since 2010, and was actually offered up as a rental for $1.07 million per month in 2011. The property has a wine room, gym, dock, and four-car garage.

 

3. 110 Arvida Parkway, Coral Gables.

This swanky estate is up on the market for $35 million as well. It was last sold in 1990 for $1.9 million. It features over 200 feet of dock space, an additional wing with an elevator, and an observatory.

4. 4855 Pine Tree Drive, Miami.

This estate is up for $26.8 million and has been on the market at least 10 times since its original sale in 1997 for $850,000.

 

5. 100 South Pointe Drive, #3602, Miami Beach.

Three separate units were put together to make the Continuum South Duplex, the only condo on this list. It is listed for $30 million. The property traded hands in 2003 for $952,000, and has only been sold once more since. This condo overlooks the Atlantic Ocean, Fisher Island, downtown Miami, and Government Cut.

 

6. 2920 North Bay Road, Miami Beach.

This newly constructed Miami Beach home is on the market for $29.5 million. The property has almost 10,000 square-feet of space in the house alone.

7. 9 Harbor Point, Key Biscayne.

This mansion, designed by star architect Cesar Molina, is for sale for $21.5 million. The asking price used to be over $27 million in 2013, but has since dropped.

8. 88 Bal Bay Drive, Bal Harbour.

The ritzy “Villa Bougainvillea” home, designed by Molida as well, has an asking price of $20 million. This 12,000 square-foot home was last sold in 1998 for $2.3 million. It was built back in 1962 on a one-acre plot.

 

9. 28 Harbor Point, Key Biscayne.

This property was actually the former set of the TV show, Miami Vice. It is on the market for $19.75 million, and includes an indoor racquet ball court, billiard room, gym, sauna, and pool. The property last sold in 1990 for $2.5 million.

 

10. 260 Cape Florida Drive, Key Biscayne.

This nine-bed, nine-bath home can be purchased for a mere $18.9 million. The lowest asking price for this list of homes. It sold in 2005 for $13 million. This property includes about 350 feet of water frontage, a library, theater, gourmet kitchen, game room, and uniquely styled Brazilian wood floors.

 

Source: therealdeal.com

Photo credit: Home therealdeal.com

Contact Sep Niakan
Founder, Condoblackbook.com & Owner/Broker, HB Roswell Realty
(305) 697-7667
contact@condoblackbook.com
Request Info
By sending you agree to CondoBlackBook's Terms of Use

Your Miami Condo Awaits

Recent Posts

Must-Have Tech to Make Your Condo a Smart Home
Opinions and Advice Must-Have Tech to Make Your Condo a Smart Home
Smart Home technology has been improving year after year and has probably been making your life easier without you even knowing. In the last few years, the home-tech market has exploded leading to a new generation of smart home devices that let you automate your condo.  Whether it’s an energy-saving, AI-powered thermostat keeping your condo at the right temperature, or maybe a smart security system that keeps burglars at bay. There is no question the smart home market is growing and here to stay. What: Philips Hue - The Smart Light Bulb Why: The Philips Hue Smart Bulbs give you access to the color and tone of the lights in your condo all from an app on your phone. These smart light bulbs communicate through Bluetooth and wifi, letting you control the lighting around your condo with just a smartphone! Depending on which model you buy, you’ll be able to not only change the strength and hue of the light but even the color. Dim purple lighting in your living room? Easy. All without...
Need to Get Away from It All? Escape to a Miami Sandbar
Lifestyle Need to Get Away from It All? Escape to a Miami Sandbar
Destination: Sandbar Miami Miami’s coastline provides plenty of adventure, fun and stress relief, the perfect life hack for destressing! Whether you’re into boating, kayaking, swimming, or scuba diving, our coast provides plentiful areas where natural beauty and cooling relief from the hot sunny weather await you. Among the many delights that the Miami coastline has to offer are the sandbars that emerge along the beach at low tide. While most sandbars come and go with the tides and shifting sands, there are several that are established as permanent, and three in particular within Miami. These sandbars are sunny oases in the middle of the sea, accessible only by boat or kayak, and have become popular fun zones where families and singles can swim, relax, and party.  If you are looking to enjoy a special adventure in the water, set out on the waters and check out these gorgeous Miami Sandbars the next time you go out boating or kayaking. Haulover Sandbar 10800 Collins Ave, Sunny...
Buying a Miami Condo for Daily Rental or Short-Term Vacation Rental? Read This!
Opinions and Advice Buying a Miami Condo for Daily Rental or Short-Term Vacation Rental? Read This!
With more and more travelers choosing to book with daily vacation rental websites such as Airbnb or VRBO over traditional hotels, the short-term vacation rental business is on the rise globally. Its local reach, luxury amenities and home-away-from-home comfort is what makes this vacation rental model a huge success. Additionally, when you couple the breeziness of an Airbnb-style vacation rental with a year-round city like Miami, travelers get a phenomenal vacation. After all, it's no secret that Miami has one of the best beach, nightlife, food, culture and shopping scenes in the world, and that's not going to change. This, quite obviously, makes buying a condo for daily renting in the city or Miami Beach a lucrative and smart investment opportunity. However, before you go property-hunting for your full-time or part-time Airbnb investment, here's what you should know about daily rental condos in Miami: Quick Links   Why Invest in a Daily Rental Condo in Miami? What's the Difference...
Wellness: The Latest Luxury Amenity in Miami Condos
Real Estate News Wellness: The Latest Luxury Amenity in Miami Condos
You wear your face mask religiously. You practice social distancing. You have adjusted to the new normal. And if you live in a condo, you’ve likely been particularly conscious of how your condo building is dealing with your health and wellness. Well, Miami real estate developers are paying attention to wellness, too! Luxury condos in Miami have always been designed to feature future-ready amenities - be it the robotic car parking at the Porsche Design Tower or the Skyport landing for flying cars in Paramount Miami Worldcenter. There are yet others, such as Gran Paraiso with acres upon acres of urban greenspace, Fendi Chateau with its luxurious Zen gardens, and the Surf Club Four Seasons Residences, with their great yoga and meditation workshops that don’t just celebrate South Florida’s fabulous outdoors, but offer a peaceful retreat at your own home to promote mental wellness, in case shelter-in-place orders are ever to be repeated. Fendi Chateau But something new is evolving in...
Top Condos for Miami Tennis Players
Real Estate News Top Condos for Miami Tennis Players
Love Tennis? These New Miami Condos are for You For sports enthusiasts in Miami, tennis ranks at the top, particularly since the Magic City has long been host to one of the major tennis tournaments - the Miami Open and summer playing host to tennis Grand Slam tournaments Wimbledon and the U.S. Open Championship. With great weather year-round, it's no wonder plenty of tennis stars, players and fans call Miami home! Some notable tennis players with Miami homes include 16-time Grand Slam Champion Novak Djokovic (who recently purchased at Eighty Seven Park), Australian Open Champion Caroline Wozniacki (Palazzo del Sol), Spanish former No. 1 Arantxa Sanchez Vicario (Paraiso District), No. 6 French player Gaël Monfils (Paraiso District), 8-time Grand Slam Champion Andre Agassi (Fisher Island), German former No. 1 Boris Becker (Fisher Island), and Russian former tennis pro Anna Kournikova (Bay Point Estates). Inspired much?  Well, if you love to play tennis, and need to have a court at...
Lap of Luxury? These Miami Preconstruction Condos will have Amazing Swimming Pools
Real Estate News Lap of Luxury? These Miami Preconstruction Condos will have Amazing Swimming Pools
Come September, the countdown to getting in your last laps or lazy dips in the northern hemisphere begins. But, if you’re in Miami, there’s no such thing as a “pool closed” sign, or the need to shuffle into a stuffy indoor pool. Indeed, every month in Miami is the perfect time to take a dive or train for your next triathlon. With every season being swim season in South Florida, it’s only natural luxury condo developers are delivering on some of the most incredible pools and terraces that will rival any destination hotel. In Part 1 of our series, we explored the best luxury condo swimming pools in Miami that are equally useful for leisure swimmers as well as fitness enthusiasts and that are ready for you to soak it all in. In this blog, we’re taking a look at the most luxurious condo building pools on the horizon in Miami’s pre-construction condos. Here’s the lineup: Miami Preconstruction Condos: Best Swimming Pools Missoni Baia 700 NE 26th Terrace, Edgewater With...