Real Estate News

Pinecrest estate sells for $5.5 million

The recently built 8,000-square-foot home featuring a wine cellar and home theater recently sold for $5.5 million. It is located at 9701 SW 63rd Ct. in Pinecrest.
The recently built 8,000-square-foot home featuring a wine cellar and home theater recently sold for $5.5 million. It is located at 9701 SW 63rd Ct. in Pinecrest.

An 8,000-square-foot home featuring a wine cellar and home theater recently sold for $5.5 million, making it one of the most expensive residential sales in Pinecrest this year.

The newly built home at 9701 SW 63rd Ct., on the market for three months, was sold to a family relocating from Central America for $665 per square foot in cash. Tony Rodriguez-Tellaheche, broker and co-founder of Prestige Realty Group, represented the sellers in the transaction.

Sellers Giorgio and Adi Balli purchased the lot where the home sits with the help of Rodriguez-Tellacheche for $1 million in 2014 and completed the design and construction of the two-story estate a year later. Situated on a 40,510-square-foot lot, the tropical modern residence boasts 6 bedrooms, 6.5 bathrooms, a 400-bottle wine cellar, home theater, outdoor kitchen, lap pool, smart home system, indoor courtyard with waterfall, limestone floors, sauna in master bath, automated window treatments and a temperature controlled three-car garage.

“Pinecrest has been on a steady upswing since 2011 and was one of the neighborhoods least affected by the recession in 2007,” Rodriguez-Tellaheche said. “There is currently a strong demand for new construction homes in the $4 million-$6 million range.”

The Pinecrest market is heating up. In April, a 7-bedroom, 8.5-bath residence at 9111 SW 64 Ct. sold for $5.8 million, according to property records. That home, which also sold for $665 per square foot, was never listed on the open market, the seller said. Archie Realty handled the transaction. And last month, Miami Heat player Tyler Johnson purchased a nearby home at 9700 W. Suburban Drive for $4.87 million, or $478 per square foot. Douglas Elliman handled that transaction.

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