Retired tennis player Anna Kournikova has sold her Sunset Island III home in Miami Beach. The 6,630 SF Mediterranean estate was built in 2000 and has seven bedrooms and eight bathrooms.

Originally listed in May 2011 for $9.4M, it closed on January 26th for $7.425M or $1,120 PSF, which is a 21% reduction in price. Ouch. Her luxury property at 2345 Lake Avenue was on the market for 231 days; the average number of days on the market for a Sunset Island home in 2011 was 116.

In 2011, there were eight sales on the Sunset Islands for an average of $870 PSF and a median PPSF of $833.

Don’t worry, fans.  Anna hasn’t left Miami Beach.  She’s leasing at Apogee South Beach.

View Photos of Anna Kournikova’s luxury home on Sunset Island III in Miami Beach

Related Reading:

Miami Beach Celeb Real Estate:  Seikaly and Piazza Sell [SBCB]

Browse All Miami Beach Real Estate Here

Originally listed for $27M in April of 2010, this 5,803 sf residence was owned by Netscape Founder Jim Clark.  Clark originally purchased the unit in 2004 in “decorator ready” condition (raw) for $9,000,000.  The Penthouse has 4 bedroom and 4 baths.  The buyer is not a celebrity and said to be a private businessperson

Two records were shattered not only in South Florida but all the way up to New York City.  To my knowledge, there has not been a single condo unit South of New York City that has traded for over $16,500,000 ($2300 psf) which was in Apogee South Beach ‘PH C’ ; additionally, I’m certain that no unit ever has obtained in excess of $3700 psf.

Setai PH ‘A’ sits atop of the 40-story world-famous Setai Resort known for its luxury and celebrity clientele.  The Setai South Beach is serviced by Singapore-based, five star hotel management company GHM Hotels.  There is also a Setai outpost in New York City.

More pictures of the Record Breaking Miami Beach Real Estate Sale at Setai South Beach

The last PH that sold in Setai South Beach was a lower PH, which sold in 2010 for $15M.  There has been intense activity in the ultra-high end homes and condos here in Miami Beach this year.  Apogee PH ‘A’ sold for what I believe was an unremarkable number of $11.5M, earlier in the year.  So far this year there have been four properties that have sold at or about $20M in Miami Beach:

• 1736 W. 28 -Sold for $19.8M in July*
• 4570 & 4580 North Bay Road- Sold for $20 in September*
• 13 Star Island Drive- Sold for $25.5M in April
• 101 20th Street PH ‘A’ -Sold for $21.5M in December*

*denotes ONE Sotheby’s International Realty’s involvement in sale

Related Reading:

• Miami’s Million Dollar Real Estate Boom [Florida Trend]
• The New Global City [WSJ]
• Condo Inventory Detailed in New Report [Miami Herald]

1736 W. 28th Street, Miami Beach, Sunset Island I

Lindemann bought the property in 2000 for $8.425M. Villa Tranquilla was built in 1936 and was designed by noted Palm Beach architect Mauricio Fatio. The single-story neoclassical estate has more than 11,000 SF and seven bedrooms and baths. The equally impressive lot boasts 70,000 SF and 453 linear feet of prime, wide-bay water frontage.

Lindemann, an avid contemporary art collector, purchased the property in 2000 and enlisted German architect Annabelle Selldorf to refresh the property. Originally listed in March 2009 for $29,900,750, a sale price of $19.8M doesn’t break any PPSF records, BUT puts it right up there with Star Island estates, which sell for $1,700 to $2,400 PSF.

In 2008, Lindemann’s parents sold their home in Palm Beach for $68.5M.

Related Reading:

• Miami Beach Real Estate: Mid-Year Luxury Waterfront Stats
• Miami Beach Real Estate: Lenny Kravitz Lists Home; Prominent Sunset Island Estate Listed for $29,900,750

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Wow.  It is insane out there.  Our “season” usually tapers off right around June. This post won’t reveal such shocking stats, but I will clue you in on what is happening right now. Deals that will show up in Q3 will really surprise a few.

Basically, the average PPSF is still hovering in the low $700s, which is what I expect will continue for the next year or so.  What did happen this year was the first residential deal to break $20M since 2008 – 13 Star Island Drive sold for $25.5M.

This transaction flirts with Miami Beach’s all-time highest recorded sale of $27M. Back in Oct. 2008, Robert Toll bought five lots on the tip of Sunset Island II for $22.5M.

Luxury Miami Beach Real Estate Sales to Date

As you can see, we’ve already basically surpassed 2009.  It’s clear that 2009 was the year to buy.  Current inventory is at an all-time low, especially at the ultra high-end of the market.

Most Expensive Homes in Miami Beach

• 3 Indian Creek Drive, Indian Creek Village: New Construction – $60M
• 5800 N. Bay Road, Miami Beach: JLo’s old home during the “Bennifer” days – $34.5M

Looking at the Miami Beach Real Estate Sales of 2011

The big story last year was North Bay Road. There were four large sales ($9M+), which were mainly due to those ball players buying two homes there.

So Far, It’s All About the Venetian Islands

The Venetian Islands have ruled Miami Beach real estate in 2011, with 42% (or 15) of all waterfront sales occurring there. Wow. The Islands racked up just 13 sales in all of 2010. The activity this year is pretty surprising considering all of the construction on the Venetians.  But, this is also the year that sellers are finally listening to what the market is saying and pricing their properties lower accordingly.

Sunset Islands

Also of note are the Sunset Islands. There were a couple of “knock down” sales last year, and three transactions in 2009. Nothing to write home about.  So far this year, two homes have closed, and there are another three homes pending; two of those are VERY prominent homes.

Star Island

There’s been intense activity on Star Island this year.  As you probably know, local attorney Roy Black purchased 45 Star Island.  Though the media went into overdrive, this is the first house on the southeast side of the island, and it is closest to the causeway. 13 Star sold for a near-record $25.5M in 90 short days. 35 & 36 Star Island Drive sold for $12.25M in February. That parcel is comprised of two 40,000 SF lots, and the seller was Philip Levine.

Donald Pliner listed his home this year at 29 Star Island Drive for $24M.  The Moroccan-style estate has since been reduced to $21M.

Big Miami Beach Real Estate Deals Ahead

It seems that our luxe neighbor to the north, Palm Beach, has had many sales in excess of $20M this year.  I know of two homes that will close in the relatively near future and add to these numbers.  One is a very prominent home with a very prominent owner, and the other pending deal may very well break the all-time highest sale record by closing for more than $27M. Additionally, a plot of land on tony Indian Creek Island is said to be under contract for $15M.

Finally, embattled businessman Claudio Osorio listed his home at 15 Star Island Drive for $14.9M in April.  The estate was only on the market for two weeks before going under contract.  The home was once owned by, ahem, Vanilla Ice.

That’s the whole scoop.

Happy 4th.  I hope you’re happy knowing that I’m sitting in front of a computer writing and calculating and verifying.  My job is real glamourous, eeh?

Related Reading:

• Miami Beach Luxury Real Estate: 2010 Waterfront Home Stats [SBCB]
• Luxury is Back [Pursuitist]
• Miami Beach Real Estate: Sunset Island Lots Sell for Near Record $22.5M UPDATED [SBCB]
• Miami Beach Luxury Real Estate: Waterfront Homes PPSF Falls 25% Y-O-Y [SBCB]
• Top 5 Miami Beach Trophy Properties For Sale [SBCB]

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I could start out this post with “A Top Producer’s Perspective” or something, well, rather dopey like that—but since I’m a numbers guy—I’ll let them speak for themselves.  I have lots of analysis (easy to understand) and anecdotal info which will make it very easy to gauge what is going on with Miami Beach luxury waterfront real estate.

Miami Beach Waterfront Home Sales for 2010

Compiling these reports takes time.  It takes me a good ten hours to retrieve and research the data, look for non-MLS sales–verify that they were “arms-length” transactions, etc.  FYI, I DO NOT report sales that I know were not “arms-length” transactions.  An example of a non-arms-length transaction would be where a seller “short sells” the house to himself or herself, which most likely involves a corporation, usually one in Delaware, but is still living in the house.  That’s the new mortgage fraud.  I know of about three to four homes on Miami Beach that have done that, so those sales ARE NOT reflected in my stats.  Anyway, a good, smart agent would know that.  Wink, wink.

Moving right along, the stats reflect Miami Beach waterfront home sales up to 63rd Street, including Indian Creek Island, La Gorce and Allison Islands, North Bay Road, Sunset Islands 1-4, Star, Palm and Hibiscus Islands, Venetian Islands, and all the waterfront areas in the mid-beach neighborhood (Pinetree Drive, Flamingo Drive, N. Meridian, Prairie & Chase Avenues, and Lakeview Drive & Court.

In 2010, there were 51 waterfront sales in Miami Beach, up from 42 sales in 2009. The average Miami Beach waterfront home sold for $710/square foot, up from $702 in 2009.  The high sale was $16M for 88 La Gorce Circle; the high sale in 2009 was Shaq’s, which sold for $16M as well.  I would put the chart in for 2009, but except for the number of sales, it looks, more or less, like 2010.  Now, the real story was the drop from 2008 to 2009.

A relatively blah year–though some brokers are saying otherwise.  Here are some interesting nuggets excised from the data:

Sunset Islands

There were only two(!) waterfront sales on the Sunset Islands in 2010.  Both sales were on SS #4 and basically sold for land value.  The Sunset Islands, especially Sunset I & II, are one of the most desirable neighborhoods in Miami Beach.

Related Sunset Island Reading

• Miami Beach Real Estate:  Sunset Island Lots Sell for Near Record $22.5M
• Sunset Islands Waterfront Homes for Sale
• Sunset Islands Non-Waterfront Homes for Sale

North Bay Road

North Bay Road continued to shine as the BMOC.  Eleven waterfronts sold this year and many prominent pieces of real estate traded to equally prominent people. (Bosh, Wade, A-Rod, et al.)  The total volume for homes sold in 2010 was a whopping $67,462,000.  The average $/psf for North Bay Road was $862.19 for 2010.  5800 North Bay Road, an estate once owned by Jennifer Lopez during the “Bennifer” days, was listed for $29M.

Related North Bay Road Reading

• Miami Beach Celeb Real Estate: Seikaly and Piazza Sell
• Miami Beach Real Estate: Has A-Rod Finally Stepped Up? $7.4M Acre of Land on Celeb-Studded N. Bay Road Sells
• Miami Beach “Castle” Sells to MTV Exec Bill Roedy for $4.42M
• North Bay Road Waterfront Homes for Sale
• North Bay Road Non-Waterfront Homes for Sale

Venetian Islands

All the chatter this year went to North Bay Road, but the Venetian Islands quietly racked up 13 waterfront sales.  The average $/psf was $616.83, down from $671 in 2009, and the total volume of sales was $28,272,000.

Related Venetian Islands Reading

• Miami Beach Real Estate:  Waterfront Foreclosures and Stuff
• Venetian Islands Waterfront Homes For Sale
• Venetian Islands Non-Waterfront Homes For Sale

La Gorce Island

The highest sale of the year was on La Gorce Island.  88 La Gorce Circle sold for $16M in June.  It was originally listed for $25M.  One of the best buys of the year was 40 La Gorce Circle, which sold for $7.4M.  It is located on the western side of La Gorce Island so it has nice wide bay views.  It was priced at $7.9M and sold in seven days.

Related La Gorce Island Reading

• La Gorce Island Waterfront Homes For Sale
• La Gorce Island Non-Waterfront Homes For Sale

Other Notes

• 11 sales on Palm and Hibiscus Islands.  Average $/psf $702.42
• 7 sales on Pinetree Drive
• 1 sale on Indian Creek Island
• 3 sales in the mid-Miami Beach neighborhood

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Rony Seikaly, a retired basketball player, sold his stunning lower North Bay Road manse to Brightstar CEO, Marcelo Claure.  The approximately 9,300 sf home, built in 2005 and sited on a 26,500 sf lot, was sold to Claure for $11.5M.  The house was not listed with a broker but it was widely known that it could be for sale. Asking price:  $15M.

Rony Seikaly Sells North Bay Road for $11.5M

The deal also included a condo at Murano Grande in South Beach, that Seikaly now owns.  The Murano Grande condo was completely redesigned by a renowned interior design firm.  At one point, Claure was asking $5M; the unit traded for $2.5M.

Mike Piazza Sells Condo at Murano at Portofino in South Beach

In other sports related and real estate news, former baseball great, Mike Piazza, closed on his unit at Murano at Portofino condominium in South Beach.  The unit has been rented for the last year.  The property was listed for $3.8M and closed for $2.88M.  Piazza has been trying to sell the unit ever since he and his wife purchased their home on guard-gated Sunset Island II in 2008 for $10M.

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Related Reading

• Miami Beach Real Estate: Has A-Rod Finally Stepped Up? $7.4M Acre of Land on Celeb-Studded N. Bay Road Sells
• Miami Beach “Castle” Sells to MTV Exec Bill Roedy for $4.42M
• Miami Beach Real Estate: Waterfront Home Sales Down a Shocking 50%

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$15M Miami Beach Penthouse

A-Rod has been looking for a place on Miami Beach for years- pre-Madonna, post-Madonna.  At one time he had Shaq’s Star Island home under contract, the estate that Naomi Campbell’s beau, Vladislav Doronin, bought about one year ago.

The parcel of land, which is 46,690 sf, has 230 linear ft. of prime, wide-bay waterfrontage and spectacular, unobstructed views of downtown Miami.  The land was purchased by the previous owner in 2006 for $8.94M.

If A-Rod builds a home, which is the general opinion from sources, his neighbors will be: Snookie’s boss, MTV’s Bill Roedy, Calvin Klein, Matt Damon, and Ricky Martin. 

Roedy just purchased Miami Beach’s famed “Castle”  for $4.42M, land value, in April.  (The house burned to the ground in July 2009.)

• Check out Miami Beach real estate here
• View other N. Bay Road homes for sale

Related Reading

• Miami Beach Real Estate: Netscape Founder, Jim Clark, Lists Setai South Beach Penthouse for $27M, PH B Sells for $15M

Michael Caine lists four bedroom, three-and-a-half bath “01″ SE corner unit for $6,995,000.  No news on why or what’s next.  No interior shots to show you.  I got nuttin’.  Here’s a standard floor plan for the “01″ line.

HSN vitamin behemoth, Andrew Lessman, sells one of his two units for $4,750,000.  Original list price $5,750,000.  The unit was never lived in and was sold “decorator ready.”

Apogee has really flexed its mighty muscles, of late, showing off in front of all of its peers.  Three units have closed in April

• 1801 – $5,900,000
• 803 – $3,800,000
• 2002 – $4,750,000

Two additional units went under contract this week.

With prime inventory at an all-time low,  Apogee South Beach commanded a premium for 1QT 2010 at average of $1,162 psf, while its next closest competitor, Continuum South Tower, came in at $818 psf for the same period.

What is it with this Apogee condominium, you ask?  Well, if you’ve been on the inside you’d know.  Apogee is run VERY differently than most all buildings in Miami and Miami Beach.  The owners are immensely private and proud of their building. From what I feel, a sense of quality; an air of refined elegance permeates the building, from the scent of the lobby to the demeanor of staff. 

New to Market: 800 S. Pointe Drive #1404; A Rare SW Corner Unit at $9M

 Imposing, refined, and elegant are a few words that are commonly used to describe Apogee South Beach.  In the case of the residence above, rare, would also be a word that befits this prime southwest corner residence.  Rarely available on a higher floor, this corner is considered to be the most desired in the building.

800 S. Pointe Drive, #1404, features 4,154 sf of prime South Beach real estate amidst a stunning backdrop of unobstructed panoramic views of the Atlantic Ocean, Government Cut, Fisher Island, and the Miami skyline.

True luxury is in the details 

Residence 1404 features:

• Premium finishes (granite, French limestone, and Botticelli marble)
• Top-line appliances (Miele and Sub-Zero)
• State of art media room with 103″ projection screen with surround sound
• Fireplace
• Crestron/Lutron systems
• 2.5 car private, air-conditioned garage
• 2,400 sf of exterior terrace space with Summer kitchen

Offered at $8.99M or $40K per month lease

Related Reading

• Miami Beach Real Estate: 2009 Condo Market Index

The house “mysteriously” burned to the ground on July 17th, 2009, under very dicey circumstances.  Well, the new owner, who now lives at luxe Il Villaggio on South Beach plans to, of course, knock down the remains and build something (hopefully) more attractive on the VERY desirable piece of land.  Calvin Klein will be his neighbor to the north.

The next obvious question is: Will Snookie party here? Too bad the house burned down; the original house was perfect for a season of “South Beach Shore.”

Spectacular Inferno Melts “The Castle”

North Bay Road is home or has been home to many high profile people like Calvin Klein, Ricky Martin, The Bee Gees, Matt Damon, and JLO.

Related Reading 

• Crytpic Miami Beach: 4462 North Bay Road Up in Flames
• Miami Beach Real Estate: Waterfront Home Sales Downa Shocking 50%