4 May 2-8, 2024 miaminewtimes.com | browardpalmbeach.com New Times | music | cafe | culture | Night+Day | news | letters | coNteNts | MONTH XX–MONTH XX, 2008 miaminewtimes.com MIAMI NEW TIMES | MUSIC | CAFE | FILM | ART | STAGE | NIGHT+DAY | METRO | RIPTIDE | LETTERS | CONTENTS | ▼ SURFSIDE HIGH-PRICED SPREAD $48 MILLION PENTHOUSE IS THE MOST EXPENSIVE U.S. HOME SOLD SO FAR IN 2024. BY NAOMI FEINSTEIN A s luxury home prices rose across the country, the $48 million purchase of a decked- out, three-level oceanfront Surfside penthouse was the most expensive U.S. home sale recorded in the first quarter of 2024, according to a new report by real estate website Redfin. Luxury home prices climbed nine percent year over year — twice the rate of non-luxury prices — while the luxury home supply in- creased by 13 percent, a record spike, accord- ing to Redfin. During the first quarter of 2024, the me- dian price of U.S. luxury homes stood at $1.2 million, and the country’s most expensive home sale occurred in our backyard. (The re- port does not appear to consider off-market transactions, which often occur among high- end purchases with wealthier buyers.) In late March, the 7,300-square-foot penthouse at the Four Seasons Residences at The Surf Club on Collins Avenue fetched $48 million. The luxury unit boasts five bedrooms, seven bathrooms, a yoga room, spa, gym, outdoor garden, and a 75-foot- long rooftop pool overlooking the “vast blue horizons of the Atlantic Ocean,” as the listing describes it. The waterfront property was originally listed for $55 million in November 2023. “A culinary haven, the kitchen is equipped with Boffi cabinetry, Miele, Viking & SubZero appliances & abundant storage. In the primary suite, pure elegance awaits. Its sleek bathroom is adorned with white onyx, free-standing tub & oversized shower,” the listing reads. Miami-Dade property records indicate G5C Capital Corp. purchased the property from PDE 1186 LLC. Records from the Florida Department of State show Coral Gables attorney Alan Fertel lawyer is the registered agent for PDE 1186. The condo had last sold for more than $29 million in the fall of 2018, the year after it was built. Despite the high prices, luxury home sales nationwide have increased two percent year over year. The Redfin report defined luxury homes as those within the top five percent of a metro area’s market value while non-luxury homes were those falling within the 35th to 65th percentile market value. “New listings of luxury homes are soaring but not enough to curb the price growth that comes with rising demand; the total supply of luxury homes is still far below pre-pandemic levels,” the report says. On the other hand, non-luxury home sales have not risen since 2021. When compared to the first quarter of 2023, non-luxury sales de- creased by four percent as demand took a hit owing to elevated mortgage rates. The Redfin re- port explains that whereas regular home buyers are impacted by the high mortgage rates, a record number of luxury home sales are being purchased in cash. Forty-seven percent of the higher-end homes purchased since the beginning of 2024 have been bought with cash, according to Redfin’s analysis. The median sale price in the Miami-metro luxury housing market increased by more than 11 percent as compared to last year’s first quarter. However, the speed of Miami’s lux- ury home sales was the slowest among the 50 most populous U.S. metro areas, with a me- dian time on the market of 118 days. The number of high-end homes sold in the Miami metro area fell by nearly 3 percent, while the number of new listings increased by roughly 23 percent year over year. In Fort Lauderdale, the analysis found, the number of new luxury home listings rose by 31 percent and the median sale price in- creased by 9 percent. Jacksonville had the largest year-over-year spike in new luxury home listings nationwide at nearly 64 percent. | RIPTIDE | GET MORE NEWS & COMMENTARY AT MIAMINEWTIMES.COM/NEWS Built in 2017, the penthouse at The Surf Club in Surfside previously sold for more than $29 million. Listing photo via Redfin ▼ TAMPA SWEET SORROW JULIET, A MANATEE RESCUED FROM MIAMI SEAQUARIUM, HAS DIED. BY ALEX DELUCA J uliet the manatee has died at ZooTampa four months after she was rescued from a deteriorating tank at the Miami Seaquarium. ZooTampa, one of the nation’s only manatee critical care centers, announced that Juliet died on April 21 after exhibiting “health issues likely related to her advanced age.” “With heavy hearts, we announce the passing of Juliet, who leaves a worldwide legacy for manatee conservation and education,” ZooTampa wrote on X, formerly known as Twitter. Her death came the same day Miami-Dade County terminated the Seaquarium’s lease. The county announced in March that it would axe the lease on April 21, citing the park’s “long and trou- bling history of violations” regarding animal safety and property maintenance. As previously reported by New Times, Juliet was one of three manatees rescued from Miami Seaquarium in December, ending the facility’s nearly 70-year run of housing Florida’s sea cows. Ro- meo and Juliet, elderly former tank mates who were confined to the park for more than six de- cades, were transported to ZooTampa; a third manatee, Clar- ity, was brought to SeaWorld Or- lando. Activists who called for the manatees’ removal feared they would suffer the same fate as Lol- ita, the park’s famed orca who died last August after spending nearly her entire life in a cramped tank at the facility. Efforts to rescue the mana- tees gained traction after animal rights activist Phil “The Walrus Whisperer” Demers and his group UrgentSeas captured aerial footage of the manatees’ dilapidated tanks at the Seaquarium. At the time of Juliet’s transfer, the Seaquar- ium was facing scrutiny not only for the mana- tees’ tank conditions, but also a series of alarming federal inspection reports that docu- mented understaffing, dolphin pools in disrepair, and bacteria-contaminated water in the park’s avian enclosures. When she arrived at ZooTampa in December, Juliet weighed more than 3,000 pounds, and was estimated to be older than 65 — making her one of the oldest known manatees, according Dr. Cynthia Stringfield, ZooTampa’s senior vice pres- ident of animal health. Though Juliet successfully adapted to her new environment for more than four months, she recently underwent a medical assessment during which she exhibited health problems, ZooTampa said. Her condition declined sud- denly, and she passed away Sunday morning. Stringfield said a necropsy will be performed. “Juliet was a beloved animal, who captured the hearts of many worldwide,” Stringfield said. “Our thoughts are with the entire manatee community and the teams who for more than six decades have cared for her.” Back in South Florida, Miami- Dade County served Miami Seaquarium’s owner, Dolphin Com- pany, with an eviction notice on Monday, April 22. The park has signaled that it intends to fight the county’s breach-of-lease claims and remain in operation. “It is our hope that the Dolphin Company takes the necessary steps to vacate the prem- ises, and to ensure that the transition is done in a safe and orderly manner, especially for the ani- mals under their care. If they fail to do so, the county will move forward with the eviction pro- cess in court,” Miami-Dade County Mayor Dani- ella Levine Cava and Commissioner Raquel Regalado said in a joint statement. [email protected] ON THE OTHER HAND, NON- LUXURY HOME SALES HAVE NOT RISEN SINCE 2021. Juliet died at ZooTampa on April 21, 2024. Photo by ZooTampa
