AquaBlue Sells $67M Venetian Islands Waterfront Properties
Key Takeaways
- •AquaBlue Group secured a $67 million contract for two Venetian Islands homes.
- •Miami-Dade luxury buyers signed 26 contracts totaling $333.5 million last week.
- •Properties averaged 147 days on market compared to 601 days in New York.
Philippe Harari's AquaBlue Group has found a buyer for its two adjacent waterfront properties on Miami Beach's Venetian Islands, with an asking price of $67 million. The pending transaction represents the largest luxury real estate contract signed in Miami-Dade County during the week of May 18-24.
The properties at 340 and 320 West Di Lido Drive feature a combined 120 feet of waterfront access. Each residence spans 5,400 square feet and contains six bedrooms, seven bathrooms, and one half-bathroom. Construction is scheduled for completion this summer, with One Sotheby's International Realty agents Mirce Curkoski and Albert Justo handling the listing.
Miami-Dade's luxury market showed strong activity during the tracked week, with buyers signing contracts on 26 properties priced at $4 million or higher. The combined asking value reached $333.5 million across 17 single-family homes and nine condominiums, according to Douglas Elliman's Eklund-Gomes team report.
Single-family homes dominated the week's contract activity, averaging $15.6 million in asking prices and totaling $265.3 million in dollar volume. These properties had been on the market for an average of 168 days before securing buyers. The luxury home inventory expanded with 27 new listings added during the same period.
Condominium sales showed faster market movement, with units spending an average of 105 days before going under contract. The nine condos that secured buyers averaged $7.6 million in asking prices and totaled $68.1 million in combined value, translating to approximately $2,500 per square foot.
The weekly activity represented an increase from the previous reporting period, when 22 contracts were signed for properties with a combined asking value of $238.3 million. Miami-Dade's luxury inventory now stands at 1,213 active listings, with properties averaging 147 days on the market across all price points above $4 million.
Comparative market data shows Miami's luxury segment moving faster than other major metropolitan areas. New York recorded 29 luxury contracts during the same week, but those properties had averaged 601 days on the market before securing buyers, significantly longer than Miami's timeframe.
