Recently, in Miami Beach and South Florida, we have witnessed some incredible news in development and record sales, now we are turning our attention to some major buys in the area! Former Miami Heat center, Alonzo Mourning and his wife Tracy, purchased a mega mansion in Pinecrest recently for a reported $4.5 million. In 2005, Mourning purchased an 8 bedroom home in Coral Gables, which is now on the market for $13.9 million. Their Coral Gables estate was an 8 bedroom waterfront home and their Pinecrest home is a six bedroom, nine bathroom estate on an acre of land. There is nothing to be desired in either listing and this is just a further indication of the rebounding luxury marketplace.
Another bulk buy that has the Miami Real Estate Marketplace’s attention is the purchase of 27 residences in Miami Midtown 4 by New York investor Sam Tawfik. This is a two phase investment the first closed recently and included 12 residences for a total of $4.87 million and the remaining will close on November 28, for $11.74 million. Tawfik released this statement to The Real Deal, “Midtown is another segment of New York City in the making, The art district, the makeup of the area, reminds me of Soho 15 years ago- we’re liking it very much.” We certainly hope so! Stay tuned for more real estate buying news.