A Tour of the Malibu-style Beach House located at 222 Ocean Drive in South Beach – Asking $14,995,000
Tuesday afternoon I had the pleasure to drop by an open house that my broker Dora Puig was holding so I could see first hand the amazing new luxury listing she recently landed a 7000 square foot Malibu style beach house located at 222 Ocean Drive in the South Beach neighborhood known as South of Fifth Its not often that you get the chance to visit a single family home in that neighborhood In fact there are only two other single family homes that exist in all of South of Fifth and this is the only one that is located across the street from the beach right smack on Ocean Drive In terms of location it doesnt get much better than this Fortunately location isnt the propertys only strong suit Its also incredibly sexy The moment you walk into the recently renovated three story home you are greeted with soaring 20 foot ceilings and an elegantly appointed white spiral staircase The luxury home for sale consists of 4 bedrooms 4 full baths 2 half baths and includes a theater room and bar a custom wine cellar 11 inch wide plank Oscar Ono rustic wood floors a custom kitchen with best in class appliances by Viking Miele and Sub Zero a private rooftop deck with pool and summer kitchen and an air conditioned 2 car garage to boot This is the type of property that will appeal to a special kind of buyer one who fully appreciates its uniqueness and location and of course has close to $15M to indulge As for the rest of you the accompanying photos will have to do
Matt Damon’s Miami Beach Estate Now Under Contract
After spending over 600 days on the market, the Miami Beach waterfront estate owned by Oscar award-winning actor Matt Damon is finally under contract. The one-acre property located at 6020 North Bay Road is comprised of two separate but adjacent parcels. It was originally listed for $20M on April 11, 2013. According to MLS records, the North Bay Road waterfront home, which was reduced late last year to $18,999,000, went under contract earlier this week on December 1, 2014. The estate – known as “Maravilla” – was built in 1935 and is situated on a rare double lot with 170 feet of water frontage. In two separate transactions, in 2005, Damon acquired it for a combined total of $14.5M.
No word on who the buyer might be, but due to the sheer size of the land itself, my guess, if I had to venture one, is that the buyer has plans to knock down all existing structures and build anew. Damon’s seven-bedroom, Miami Beach estate has just 12,705 interior square feet, quite small compared to the 21,845-square-foot home that could reside there, according to my calculations, if built to code. The property located at 6020 North Bay Road has great potential, a fact that I am sure would not be overlooked by buyers in this price range. If I am correct, the transaction should close quickly as there would not be a need to do a home inspection.
It will be interesting to see the final sales price once everyone lays their cards on the table. Word has it that Damon, along with his wife and children, relocated in 2012 to Pacific Palisades, a neighborhood of Los Angeles, California.
If you’re curious about other luxury houses for sale on North Bay Road or other exclusive neighborhoods throughout Miami Beach, be sure to pay a visit to our collection of luxury real estate for sale in Miami and Miami Beach.
Miami Luxury Homes See 11.5 Percent Price Increase in Q3
With an 11.5% increase year-over-year in the third quarter of 2014, luxury home prices in Miami ranked 7th out of 33 key global cities tracked in the Knight Frank Prime Global Cities Index. As should be expected, within the past 6 and 3 months, prices for luxury real estate in Miami saw a decline of 3.6% and 4.1% respectively. The third quarter, which includes the months July through September, is typically the slowest quarter for Miami real estate. This price trend should reverse itself over the next two quarters as the weather in other parts of the world becomes progressively colder. In my opinion, all eyes should be on the figures for the first quarter of 2015. Q1 tends to be the best performing quarter for Miami luxury real estate and should provide an indication as to where prices may head. Any signs of weakness in Q1 could spell trouble for luxury home prices throughout 2015 and 2016.
