SUNNY ISLES BEACH, Fla. – If you had $59 million to spend on a home, what would you buy?
One of the most expensive penthouses ever offered on the Miami market is set to go on sale later this year. The Estates at Acqualina are offering a two-story, 17,000 square foot penthouse, ready for the owner’s personal touches, with available furnishings from upscale brands like Trussardi and Fendi.
Developers also tout amenities like a bowling alley, disco room and lobbies dressed head to toe in Karl Lagerfeld. All of these extras may just be enough to attract buyers looking into luxury real estate.
It’s part of a trend in a hot South Florida market.
“The Miami and south Florida luxury real estate market is experiencing great momentum. The latest statistics for all property types $1 million and above increased 120.5%, while inventory declined 21.1%,” said Lynda Fernandez, chief of communications for the Miami Association of Realtors.
Investors are being lured by South Florida’s beautiful beaches and warm climate, but it’s also a matter of dollars and cents.
“Interest from high-net-worth individuals seeking lower taxes, migration from high-density areas, tech flight and other trends accelerated by the pandemic are driving demand throughout South Florida,” Fernandez said.