The real estate market in Miami Beach and surrounding areas has seen significant transactions recently, including the sale of a waterfront Ocean Site in Miami Beach, which experienced a drastic 90% reduction in value, selling for significantly less than its rumored $500M price two years ago. This 3.82 Acre Site at 6701 Collins Ave, known for the old famous Deauville Hotel that hosted the Beatles, was once under contract to Stephen Ross and Related Cos. In another high-profile transaction, billionaire Barry Diller acquired a 1.5-acre waterfront lot on Miami Beach’s North Bay Road for a record $45 million. Additionally, various luxury properties have changed hands, including an oceanfront lot in Palm Beach sold for $85 million, a waterfront Key Biscayne home for $18 million, a waterfront spec mansion in Boca Raton for $28.5 million, and a San Francisco home in Pacific Heights for nearly $10 million.
Billionaire media mogul Barry Diller closed on a 1.5-acre waterfront lot on Miami Beach’s North Bay Road for a record $45 million, @h1nsche reports https://t.co/95XAo9YIDk
A vacant home lot in Miami Beach sold for $45M, more than 2X its last trade https://t.co/ftngqSMgC7
Billionaire Barry Diller, husband of Diane von Furstenberg, breaks record with $45M Miami plot purchase https://t.co/pgWZorBTyg https://t.co/FnAgRFMcMi
Former Kimpton CEO sells SF home in Pacific Heights for nearly $10M https://t.co/yL8icuAjKO
Hotelier Mikhail Avrutin sold a waterfront spec mansion in Boca Raton’s Royal Palm Yacht & Country Club for $28.5 million, @h1nsche reports https://t.co/TyTqX6VJqI
The former CEO of Telemundo sold a waterfront Key Biscayne home for $18 million https://t.co/b0miulKn4w
Firm led by Anand Khubani of IdeaVillage sells oceanfront lot in Palm Beach for $85M https://t.co/IrOewXicp3
Hospitality mogul Ian Schrager sells Edition Miami Beach condo https://t.co/euiLemspyN
Talk about a huge reduction of value for a waterfront Ocean Site In Miami Beach - 90% in 2 years Back in Nov 2022, @RelatedCos was rumored to be UC for $500M on the 3.82 Acre Site on 6701 Collins Ave where the old famous Deauville Hotel was (hosted @thebeatles on… https://t.co/wrjo0threL
The property, which was under contract at one time to Stephen Ross and Related Cos., covers more than three acres on the ocean. https://t.co/uDpvAtlxS6