The most expensive residential sale in South Florida this week was a vacant 1.5-acre lot at 1300 South Ocean Boulevard in Manalapan, which sold for $27.5 million. The property, featuring both ocean and Intracoastal access, previously changed hands in 2021 for $26.3 million and was listed for sale in 2023 at $38.9 million. The transaction involved seller 1300 South Ocean LLC and buyer Pitchoune Life LLC, with Serhant’s Gary Pohrer and Douglas Elliman’s Nick Malinosky representing the seller, while Marine Rollins from Miami Global Realty represented the buyer.
In commercial real estate, the largest deal was the purchase of a 45,400-square-foot office-and-retail complex located at 3901 Design Center Drive in Palm Beach Gardens for $15.5 million by an affiliate of LRP Media Group. The seller was PGA Design Partners LP. This price equates to more than $340 per square foot.
Another notable residential transaction involved Thomas Peck, former president of a flooring company, and Jill Barnes selling their nearly 9,300-square-foot home at 10840 Old Cutler Road in Coral Gables to Belterra Investments for $21.5 million—over $2,300 per square foot. The seven-bedroom house was built in 2023 and includes eight full bathrooms, two half baths, a five-car garage, an elevator, and a pool. Evelyn Carrero with Aria Luxe represented the sellers; Kristina Gugunava with Compass represented the buyer.
Additionally, Scott and Lauren Gilbert sold their condo at The Residences at The Bath Club on Miami Beach’s Collins Avenue to Mark Ashley for $14.3 million—a significant increase from its previous purchase price of $5.7 million in 2011. The three-bedroom unit spans 5,700 square feet and features five bathrooms; the recent sale values it at over $2,500 per square foot.
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