The penthouse at Regalia, a luxury condominium in Sunny Isles Beach, has found a buyer after being on the market for an extended period. The sale was part of nine contracts signed between August 4 and August 10 for homes and condos listed at $4 million or more in Miami-Dade County, according to the latest Eklund-Gomes report. This report monitors high-end residential properties included in the Multiple Listing Service.
During this period, new inventory continued to grow, with 31 additional luxury listings bringing the total number of such properties to 1,156 in Miami-Dade. In comparison, buyers signed contracts for 12 properties valued at a combined $96.2 million during the previous week.
The seven single-family homes and two condos that went under contract last week represented a combined asking price of $109.7 million, as detailed by Douglas Elliman’s team led by Fredrik Eklund and John Gomes. The single-family homes averaged an asking price of $10.6 million and spent about 126 days on the market.
A notable transaction among these was for a waterfront home located at 100 Golden Beach Drive in Golden Beach, which was listed for $18.5 million with agents Alan Eskenazi, Eli Eskenazi, and Alexander Goldstein of Miles Goldstein Real Estate. Property records indicate ownership by Johnny Grobman and Noemi Geller. The six-bedroom residence spans 7,755 square feet on a 0.6-acre lot along the Intracoastal Waterway and was originally built in 2004 before being expanded in 2016.
Johnny Grobman is currently serving a federal prison sentence following his conviction related to a baby formula fraud scheme. In 2022, he received a sentence of over 18 years after being found guilty by a jury in 2020 of several charges including wire fraud, money laundering, theft of pre-retail medical products worth more than $5,000 by deception or fraud, smuggling goods from the United States, and conspiracy to commit these crimes according to the Department of Justice. He is also responsible for paying $142 million in restitution.
The two condominiums under contract last week had an average asking price of $17.9 million and were typically on the market for around two months. Together they accounted for $35.8 million in listing volume at approximately $3,308 per square foot.
Leading condo sales activity was Penthouse 43 at Regalia (19575 Collins Avenue), which features six bedrooms across two stories totaling 10,755 square feet and amenities such as a rooftop pool, wine cellar with space for 500 bottles, and an in-home theater. Danny Hertzberg of Jills Zeder Group at Coldwell Banker holds the listing with an asking price of $19.9 million; developers lost ownership when it sold via auction for $20.5 million in 2022 after previously being listed as high as $33.9 million.
In New York City last week, there were contracts signed on 22 homes with a combined asking value of $283.6 million; these properties spent an average of nearly two years on the market before finding buyers.
