Surf Club Four Seasons Condo Seeks 70% Profit Flip

A condominium at the Four Seasons Residences at the Surf Club has entered contract at an asking price of $31.5 million, positioning the seller for a substantial profit less than a year after acquiring the property.

The unit, numbered 1003 in the south tower at 9001 Collins Avenue, spans 4,640 square feet and features four bedrooms, five bathrooms and one half bath. An LLC named after the address purchased the residence for $18.4 million last summer, meaning the current asking price represents more than a 70 percent markup. The listing, handled by Compass agent Bryan Halda, commands approximately $6,800 per square foot.

This transaction led nine luxury home contracts signed in Miami-Dade County between June 29 and July 5, according to Douglas Elliman's Eklund-Gomes team weekly report. The figure represents a sharp decline from the previous week, which saw 17 deals for luxury properties totaling $133.4 million in combined asking prices.

The report tracks residential listings priced at $4 million and above within the Multiple Listing Service. Last week's contracts included seven single-family homes and two condominiums, generating a total asking dollar volume of $88.9 million. Properties in the report spent an average of 99 days on the market before entering contract.

The two condos that secured buyers averaged $21.7 million in asking price and remained on the market for 139 days. Together they represent $43.4 million in asking dollar volume, averaging $4,400 per square foot.

Among single-family homes, the highest-priced pending sale involves a property at 13000 North Bayshore Drive in North Miami, listed at nearly $13 million. Joel Lusky of the Brokerage South Florida Real Estate represents the seller. The seven-bedroom residence measures 6,700 square feet on a 0.2-acre lot in the Keystone community and includes 75 feet of water frontage, private dock access, a putting green, gym, entertainment room and elevator. JVP Design Group acquired the property for approximately $1.5 million in 2021, constructed the new home, and completed it last year.

The seven single-family homes entering contract last week averaged $6.5 million in asking price and spent 87 days on the market. Their combined asking dollar volume reached $45.5 million.

The luxury market currently holds 1,098 active listings after 23 new properties were added during the reporting period. The team compiling the weekly analysis is led by Fredrik Eklund and John Gomes.

The slowdown in contract activity coincides with rising summer temperatures across South Florida, a seasonal pattern that typically affects transaction velocity in the region's high-end residential sector.