Miami Beach Real Estate: Sunset Island Lots Sell for Near Record $22.5M. UPDATED

There’s a Big Difference Between Gossip and Good Information

An exclusive here,  I first reported that the five lots on the tip on Sunset Island #2 in Miami Beach were under contract;  what wasn’t known was the price or the buyer.  Ask and you shall receive:

  • Closing Date:  10/2/2008
  • Price: $22,500,000
  • Buyer:  Frenchmen & Women, L.L.C.  No info known as of tonight on the buyer(s) (see update below for buyer).  It seems that the new owner may be from the Philadelphia area.

Not much more to say except, 2nd highest price ever-recorded for residential real estate in Miami-Dade and Broward Counties.

Purchased in August, 2006 for $16,212,500, it is speculated that the seller of the property may have actually LOST money on the deal.  Hmmmm……………..


UPDATE:  Buyer:  Robert I. Toll, Chairman and Chief Executive Officer of Toll Brothers Inc.

UPDATE:  This highest price ever paid for any real estate in Dade & Broward Counties is 10 & 11 W. Star Island Drive in Miami Beach.  In April, 2006 the parcel containing 120,000 sf of land closed for $27,000,000.


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