SOLD on Sunset Island I at $16,500,000
1800 W 25 Street, Miami Beach, FL
We are happy to be announcing our fourth mega-sale for year 2017 in which we represented the buyer. Once owned by recording artist Lenny Kravitz, this incredible Mediterranean waterfront estate is located in one of the most prestigious communities in Miami Beach - Sunset Islands. The 6-bedroom 7+3-bathroom Mediterranean style home has a nearly 12,000 square feet of luxurious interior space featuring beautiful architectural details, arched doors and windows, living room with a wood-burning fireplace, library, large eat-in kitchen with a family room, an office, gym, movie theater, and more. The home is sitting on a 25,000 sf lot with 125 feet of prime Miami Beach waterfront and comes with a private beach, salt-water pool, spa, guesthouse, and gazebo with a summer kitchen - all the luxury amenities that one needs to enjoy the luxury waterfront lifestyle in Miami Beach.
This marks our fourth luxury home sale with a selling price of over $10 Million in year 2017. Earlier this year we broke all records for the Venetian Islands with the sale of 212 W Di Lido Drive selling at $22 Million; then, the sale of 6466 North Bay Road at $20 Million was the only sale of over $20 Million on North Bay Road this year; our third sale was our off-market sale, 2108 North Bay Road, which sold at $14 Million - a record-breaking $700 per square-foot for waterfront land on North Bay Road, and 1800 W 25th street on Sunset Island I being our fourth mega-sale for year 2017.
Reflecting back, year 2017 has been another incredible year for us. This year, in 65% of our closed sales transactions we proudly represented the buyer or were the transaction broker. Nelson Gonzalez was voted "Best Realtor" in Miami-Dade county, EWM was voted "Best Brokerage" for a thrid year in a row, and our own broker - Ron Shuffield - was voted "Most Knowledgeable" in the industry.
The luxury real estate market for single-family homes in Miami Beach in 2017 has been great when compared to year 2016. In the over $10 Million market, in Miami Beach in 2017 there was a 60% increase in closed sales when comparated to year 2016 (13 closed sales in 2017 vs. 8 closed sales in 2016). There was, also, a 300% increase in closed sales in the price range of $20+ Million, with 3 sales of over $20 Million in 2017 and 0 sales of over $20 Million in 2016. Although, in the price range between $5-$10M, year 2016 was significantly better than 2017, with 27 closed sales in 2016 and 12 closed sales in 2017.
If you need more information on any of these sales or would like to discuss the real estate market, please contact Nelson Gonzalez at 305.674.4040 or Nelson@NelsonGonzalez.com
This update was provided by Julijana Rose from THE NELSON GONZALEZ TEAM.