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Miami Real Estate News

Miami's real estate scene is buzzing with activity as we step into the season, showcasing a series of high-profile transactions across the tri-county region. From Sunny Isles Beach to Palm Beach, the market is witnessing a flurry of luxury real estate deals, with prices ranging from a cool $7.1 million to a whopping $12 million.

Sunny Isles Beach: Tech CEO and Construction Boss Seal Major Deals

At the heart of these transactions is the Estates at Acqualina in Sunny Isles Beach, a luxury condo development by the Trump Group. This impressive complex, comprising a 49-story south tower and a 52-story north tower, offers a staggering 45,000-square-foot amenities space, complete with a movie theater, bowling alley, and even an ice skating rink.

Manolis Kotzabasakis, CEO of CentralSquare Technologies, and his wife Marianna made headlines with their $11.9 million purchase of unit N-2301 in the north tower. CentralSquare Technologies is a notable player in the public sector tech arena, specializing in software for managing critical services like 911 calls and criminal records.

In a striking move, construction magnate Michael Petillo flipped his condo in the same tower for $12 million, a significant leap from his initial $7.7 million investment in May. The buyer, an LLC managed by Surinamese entrepreneur Otmar Sibilo, now owns a luxurious five-bedroom, six-and-a-half-bathroom condo, sold furnished. Notably, Petillo, founder of a New Jersey-based construction company, recently invested in a $18.5 million condo at Four Seasons Residences at the Surf Club.

Palm Beach: Real Estate Legacy and Investment Advisor Cash In

Ross Meltzer, son of the late real estate developer Irving Meltzer, sold his Palm Beach home for $9.2 million. The property, located at 209 Bermuda Lane, was purchased by an LLC, keeping the buyer's identity under wraps. Meltzer originally acquired this 1952-built, three-bedroom home in 2013 for $2.5 million.

In another notable Palm Beach deal, Adrian Tauro, an investment advisor at ScotiaMcLeod, offloaded his property at 221 Oleander Avenue for $7.1 million in an off-market transaction. The buyer, represented by a company managed by Orestis Vlisidis from Athens, Greece, secured a $2 million mortgage from Tauro for the deal. Tauro had bought this 2,600-square-foot, four-bedroom home in 2021 for $6.3 million.

The Miami real estate market is clearly in a dynamic phase, with significant transactions indicating a robust interest in luxury properties. Whether you're a buyer, seller, or simply a real estate enthusiast, these developments are worth keeping an eye on. For more insights or if you have any questions about the Miami real estate market, feel free to text me. Stay tuned for more updates and analysis on the latest market trends.


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