Miami real estate news

Tags:   bal harbour real estate, st regis bal harbour

South Florida Luxury Oceanfront Real Estate Continues to Grow while Values Increase!

An undisclosed buyer has closed (July 25, 2012) on a $24.6 million purchase of five adjoining units at the St. Regis Bal Harbour Resort & Residences. It is the single-largest transaction at the St. Regis Bal Harbour Resort and Condominium, which officially opened its doors in January of this year.

Considered as one unit, the deal is the second-largest condominium sale in Miami-Dade County, following the $25 million purchase of a unit by an Italian buyer at South Beach’s Continuum South Tower in May.

The St. Regis Resort and Residences Bal Harbour sales have been reported to be in excess of $624 million in sales through mid-June of 2012, with many of those sales occuring during the construction of this luxury property and during the recent downturn in the U.S. real estate market.

The units puchased in this recent deal, collectively total 16,430 square feet under air and 21,176 square feet overall. According to those close to this purchase, the 5 separate units may be combined into one large residence in the very near future.

Prior to the Continuum South Beach$25m purchase and now this $24.6m purchase, the previous Miami-Dade condominium purchase record had been set by the $21.5 million sale of a top floor penthouse at the oceanfront Setai South Beach condominium in 2011.

Photo's shown below are not from this sale. The below photos are recent photo's of new St. Regis Bal Harbour condominium model units

Luxury Real Estate sales continue to grow in South Florida. View a selection of over 100 luxury oceanfront and waterfront condominium properties from South Beach to Palm Beach right here on my Linda G Properties South Florida luxury real estate website.

View my complete St. Regis Bal Harbour Resort & Condominium Residences web page HERE.

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