MIAMI BEACH REAL ESTATE: SUNSET ISLAND 2 PROPERTY CLOSES MORE THAN $2M BELOW ASK!

August 25, 2009

Sunset Island 2: 1727 W 27 Street Miami Beach, Florida

The sun is shining on Miami Beach this week, as yet another luxury waterfront home matches seller to buyer. Listed for $8.25M, 1727 W 27 Street just closed for $6M/$960SF. Listed just shy of one year in a down market (310 days to be exact), this sleek turnkey property located in Miami Beach’s exclusive neighborhood, Sunset Island 2, traded $200k less than it did in 2005. Currently there are 18 waterfront homes for sale on Sunset Islands 1, 2, 3, and 4.

To date, only one other waterfront property closed this year on the Sunset Islands. On and off the market since 2005, this Sunset Island 4 home, located at 1401 W 22 Street, closed for $2.7M/$597SF. The deals, or should I say STEALS, are ripe for the picking!

VITALS ON 1727 W 27 STREET:

Lot Size: 20,000 SF
On the H2O: 100′
Living Area: 6,244SF
Built in 1984

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