Real Estates

Fat cats are buying eight-figure ‘affordable’ homes in Miami

Has Miami luxury housing been underrated? Billionaires think so.

In July, Jackie and Mike Bezos, parents of Amazon’s founders, bought several beachfront villas in Coral Gables, paying $34 million and $44 million for neighboring homes, for a total spending of $78 million.

Then in September, hedge fund Ken Griffin surpassed his own single-family record, dropping $106.87 million on a Coconut Grove estate, the highest paid for a home in Miami-Dade County.

The move came just three months after he announced he would move his Chicago-based fund, Citadel, to Coconut Grove (bringing a host of ultra-wealthy homebuyers to the area), and a year later, paid a then-record $75 million dollars for the Star Island playhouse.

Aerial view of 355 Ocean Blvd.
Sitting on 1.5 acres of land in Golden Beach, 355 Ocean Blvd. asked for 100 million dollars in June.
Mike Ruiz

“I’ve always said this is the lowest-priced real estate in the world,” said Sean Murphy, co-president of Coastal Construction Group, which has built record-breaking multi-family mansions for the likes of Oprah. , Jerry Bruckheimer and architect Peter Marino. “These numbers look big, but it’s actually crazy what you get for your money here.” If you look at the lack of state taxes, the weather, the nightlife and the restaurant scene, it all makes sense.”

Now, a new wave of super-priced, turnkey Miami condos is turning the heads of billionaires.

“These numbers look big, but it’s actually crazy what you get for your money here.” If you look at the lack of state taxes, the weather, the nightlife and the restaurant scene, it all makes sense.”

Sean Murphy, Co-President of Coastal Construction Group

In June, 355 Ocean Blvd. in Golden Beach went on the market asking $100 million. It sits on a 1.5-acre lot with 250 feet of ocean frontage and has 32,000 square feet of interior space, with nine bedrooms and more than 14 bathrooms.

“This is the largest oceanfront single-family residence in Miami-Dade County,” says Douglas Elliman’s Dina Goldenthier, noting that the “decoration-ready” home comes with an approved permit that allows the new owner to move in less than two years after completion. estimated interior construction $15 to $20 million. “We already had one offer, but every week I talk to a new billionaire.”

She shares the listing — which has amenities including a wine cellar, home theater, bowling alley, spa and gym — with Ryan Serhant and his eponymous firm.

Exterior of the shared courtyard of Villa Positano.
Known as Villa Positano, this five-bedroom Coral Gables waterfront retreat is asking a whopping $48 million.
LPG / ONE Sotheby’s International Realty

Meanwhile, in Griffin’s new ‘hood, 3080 Munroe Drive, aka Villa Positano, hit the market asking a whopping $48 million.

This high-end piece of Citadel bait is three stories and 10,220 square feet, with five bedrooms and more than five bathrooms.

Set on 300 feet of waterfront, it comes with 12-foot-wide “Caribbean-style” terraces, a “Roman-style” atrium and a vaulted carport, according to the listing by Elena Bluntzer of One Sotheby’s International Realty.

Aerial view of 4217 S.  Ocean Blvd.
This oceanfront villa at 4217 S. Ocean Blvd. it comes with six bedrooms, plenty of art and a price tag of $25 million.
The Carroll Group

Looking for something big on style that won’t take years of reno? See 4217 S. Ocean Blvd. in Highland Beach.

Asking just $25 million after listing in October, the 9,052-square-foot, six-bedroom, eight-bathroom beachfront mansion is tricked out with “Renaissance-style architecture,” according to the listing by Chad Carroll of Compass, and comes with artwork from a Belgian castle, a historic Italian fireplace, carved and gilded Louis XIV armchairs, an 1890 Steinway piano, an original 1880 Brunswick Monarch pool table and a collection of over 100 oil paintings, sculptures and chandeliers.

Now, that’s a package ready for the master of the universe.

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