As reported in The Real Deal.

As deals for expensive artworks closed, so did those for luxury condos.

A total of 116 condos sold for $49 million last week during Miami Art Week, compared to 74 units that sold for a combined $30 million the previous week. Condos last week sold for an average price of about $422,000 or $294 per square foot.

The top sale was the $5.1 million trade of Ocean Tower II unit 208 in Key Biscayne. The six-bedroom, 6,701-square-foot condo was on the market for 338 days before it sold.  It sold for under $800 per square foot.

Unit 612 in the south tower of the Surf Club Four Seasons in Surfside sold for $4.45 million, or $1,551 per square foot. It was on the market for 160 days before selling. 

Here’s a breakdown of the top 10 sales from Dec. 1 to Dec. 7. 

Most expensive
Ocean Tower II Condo #208 | 338 days on market | $5.1M | $761 psf 

Least expensive
Towers of Key Biscayne #C507 | 592 days on market | $975K | $547 psf 

Most days on market
Acqualina #1901 | 861 days on market | $2.15M | $786 psf 

Fewest days on market
Akoya #901 | 13 days on market | $1.15M | $653 psf 

 

https://therealdeal.com/miami/2019/12/09/miami-condo-sales-experience-bump-during-art-basel/?utm_source=Sailthru&utm_medium=email&utm_campaign=South%20Florida%20Daily%20%7C%2012.10.19&utm_term=South%20Florida%20Daily