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Top 3 Most Expensive Miami Beach Homes sold in March 2011

Ines Hegedus-Garcia
ines@miamism.com

There were 32 Miami Beach homes sold in March, compared to 21 sales in February and 9 in January.  The top 3 most expensive sales were in the "mega luxury" category above $5 million and the lowest sale was the typical Normandy Island dry-lot home selling for $306,000.  Miami Beach remains the same as always, one month you have a $12 Million listing for the highest sale and the next you have a $1.5 million.  Foreign money is always coming in with Brazilians winning our real estate housing market with their fabulous economy and even better personalities.

March’s Most Expensive Miami Beach Home Sale

4855 Pinetree Dr – Miami Beach, FL 33140

Listed for $6,900,000 and sold for $6,536,289 on March 18th, 2011

One of the most exquisite Pinetree mansions ever in Miami Beach built in 1932, completely restored and maintained with no luxury spared.  The selling price may have been done by a numerologist (my attempt at humor), and was listed in December of 2010 and selling just 3 short months later.  It was however, listed previously in 07 for $12 Million with several price reductions, then in 2008 listed again for $8,999,999 < which means FIRM PRICE in real estate lingo... but finally settling for the $6.5 Million number.  You'll notice that the view is not photographed, and that may be to the fact that Pinetree homes are not sold for their water frontage, but for their architecture, scale and style.  The selling description reads:

Splendid Mediterranean mansion on prestigious Pinetree Drive, has been magnificently restored beyond its original grandeur. Features 6BR/6B+2 half BA incl. a sep. 2BR/2BA guest house. Many gracious rooms provide wonderful gathering areas, incl. the dramatic great room. Fine marble and wood floors, fireplaces, custom built-ins, state-of-the-art media rm, 3rd floor office, library, formal dining room, wet bar, gourmet kitchen, wonderful views of the garden, pool and waterway. 100 ft of water frontage & dock.

Features:

  • 10,383 square feet of living space
  • 6 bedrooms / 6 bathrooms / 2 half-baths
  • 3-car garage
  • 39,700 square ft. lot (100' X 397')
  • 100 feet of water frontage
  • private dock
  • 3-story house
  • Prestigious Pinetree Drive location

March’s second Most Expensive Miami Beach Home Sale

1429 N Venetian Wy – Miami Beach, FL 33139

Listed for $6,500,000 and sold for $5,500,000 on March 2nd, 2011

Here's an amazing property that had been listed since April of 2009.  It didn't sell quickly because it needed a very specific type of buyer, one that didn't mind finishing the construction and one that didn't mind being right on Venetian Causeway.  Although the lot was huge at over 26,000 square feet, buying this house was like buying a designer-ready condo where you could choose your own finishes. Contemporary architecture, "almost" finished with land, square footage and awesome views.  Congrats the its lucky new owner! Selling description reads:

Almost finished and absolutely stunning 8 BD + maids / 8.5 BA ultra modern bayfront home with over 200 feet on bay and 8 foot draft.  13,569 total square feet as per plans. High ceilings, full height impact windows and doors, two double car garages, elevator, reflecting pool running from front to rear, 4,000 square foot rooftop terrace plumbed for jacuzzi and summer kitchen with mind blowing 360' views!  Much, much more. Bid from top quality contractor at $1.25M to complete.

Features:

  • 13,569 square feet of living space
  • built in 2009
  • 8 bedrooms / 8 bathrooms / 1 half-bath
  • 26,764 sf lot
  • 200' of water frontage
  • private dock
  • impact resistant windows and doors
  • 4,000 sf rooftop terrace
  • Venetian Islands Location - Marco Island

March’s Third Most Expensive Miami Beach Home Sale

5465 Pinetree Dr – Miami Beach, FL 33140

Listed for $4,950,000 and sold for $4,750,000 on March 31st, 2011

This particular home has the typical scale of a Pinetree home, but not quite as grand as the top sale of the month.  You will see by the photos that the house is a bit dated and even with its $4.75 Million sticker price, some updating and refreshing will be necessary.  I called these homes "tired", but nothing a great interior designer and a little cash can't fix.  The house was originally listed in 2006 for $9.6 million, with several price reductions and finally selling when reduced under the $5 Million mark.  The selling description reads as follows:

Stately Pine Tree Dr Mansion, on 125 feet of wide waterway, affords ultimate gated privacy within its expansive compound. This 10 bedroom, 11/2 1/2 bath residence w/approximately 9000sqft under air (as per owner) on a 21,156 sqft lot includes a newly surfaced tennis court, pool, a large auto courtyard, a new dock w/boat & jet ski lifts, 3 car garage & a separate guest house. Entertaining is a pleasure w/an over-sized kitchen & pantry, double refrigerators, ovens & sinks, all leading to a formal dining rm.

Features:

  • 7,764 square feet of living space
  • 10 bedrooms / 11 bathrooms / 2 half-baths
  • built in 1926
  • 3-car garage
  • 21,156 sf lot (172' X 123')
  • private dock
  • 125' of water frontage
  • Pinetree Drive location

**all information obtained from the SouthEast Florida Multiple Listing Service**


alex 13th April, 2011

really particular homes? :)

Seattle Luxury Homes 18th April, 2011

Beautiful homes, Ines. The luxury market has really been warming up in Seattle, hopefully it's headed the same direction in Miami.

marie49125Marie 26th February, 2014

1429 N Venitian way currently being demolished, so I don't think this was bought by a specific buyer who wanted the house. The land itself with dollars inflation is worth the price. I think that they are just preparing to resale the land, since by law you need to demolish before a land sale.

Ines Hegedus-Garcia 26th February, 2014

Thank you Marie - The Venetians and all of Miami Beach has come a long way since this article was written in 2011 and the appreciation has been drastic! - I wonder if they had problems with permitting with the city or just decided to start from scratch.

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