Catherine Rodstein Blog   Real Estate Blog

Just completed by luxury home builder Bart Reines, this 10,500 sq ft, 6 bedroom, 7.5 bath, waterfront mansion in Miami Beach will hit the market Nov 1 for $26M. Kobi Karp designed the Sunset Island II estate gracing a 20,000 sq ft lot, SOJO Design designed the interiors. Asking $2,500 per sq ft, the property is expected to sell fully furnished. Potential buyers would include hedge and financial executives from NY who are accustomed to even higher prices for similar properties along the eastern seaboard including NYC and the Hampton's.

Sunset Island II is one of four exclusive guard gated Sunset Islands ideally located in the heart of MIami Beach. The adjacent North Bay Road's waterfront estates currently on the market range from $7M to $37M for a 13,000 sq ft estate on a 30,000 sq ft lot. The most expensive mansion in Miami is located in Gables Estates in Coral Gables, a 20,862, 8 bedroom estate, on a 157,000 sq ft lot overlooking Biscayne Bay. Similar waterfront properties in Miami are currently for sale in the exclusive communities of Key Biscayne, Star Island, Indian Creek, La Gorce, Palm Island, and Hibiscus Island. Just last week the Miami Beach city commission agreed to send a controversial ordinance to the city's planning board that would reduce the maximum lot coverage from 30% to 25% in all single family districts. If it goes through, the era of building the mega sized home, or McMansion, will come to an end.

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