Real Estate News

This home just broke the record for highest-priced sale in Bal Harbour

This Bal Harbour home just sold for $24 million, a new record for the neighborhood.
This Bal Harbour home just sold for $24 million, a new record for the neighborhood.

An eight-bedroom, nine-bath estate has set a new record for highest-price paid for a single-family home in Bal Harbour, according to the Multiple Listing Service.

The sprawling, 11, 724 square-foot mansion at 224 Bal Bay Drive sold for $24 million — or $2,047 per square foot — to an undisclosed buyer. The sale closed July 1.

The previous record holder was a single-family home at 182 Bal Bay Drive that sold for $17.5 million in 2013.

As Miami has undergone an unprecedented, rapid transformation from languishing trouble spot to global hotspot, locals increasingly have trouble finding a place in the city to call home.

The 224 Bal Bay Drive property had previously sold in 2013 for $7.5 million. The home had been listed five months ago for $24.9 million

The property includes perks such as a private entrance to Bal Harbour Shops, a 50-foot infinity-edge pool, 100 feet of water frontage.

According to Zillow, the median home value in Bal Harbour is $1,036,000. The median sales list price per square foot is $783, which is more than triple the per square foot average sales list price of $221 in the Miami-Dade-Broward-West Palm Beach area.

The buyer was represented by Sandra Debuire of Coldwell Banker. The seller was represented by Dina Goldentayer of Douglas Elliman.

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