Wed Jun 25 00:40:00 UTC 2025: **Miami Luxury Real Estate Sees 17 Contracts Signed, Rosie O’Donnell’s Former Estate Among Them**
Miami, FL – Miami-Dade’s luxury real estate market saw continued activity last week, with 17 contracts signed for homes and condos priced at $4 million and up, according to the latest Eklund-Gomes report. The report, which tracks high-end properties listed on the Multiple Listing Service, highlights a notable trend in the South Florida market.
Leading the charge was Rosie O’Donnell’s former Star Island estate in Miami Beach, which entered into contract with an asking price of $48 million. The waterfront mansion, situated on 1.1 acres at 43 Star Island Drive, was originally purchased by the late Dr. David Frankel and his wife, Linda Frankel, from O’Donnell in 2013 for $16.5 million. The property, built in 1923, boasts eight bedrooms, 11,104 square feet of living space, a pool, and a private dock. Liz Hogan of Compass is the listing agent.
Overall, the 17 properties spent an average of 103 days on the market before finding buyers. The total asking dollar volume for these properties reached $201.7 million, comprising $131.9 million for nine single-family homes and $69.8 million for eight condos.
The average asking price for single-family homes under contract was $14.7 million, while condos averaged $8.7 million. The priciest condo to secure a buyer was Unit 1601 at Continuum South Beach, a three-bedroom, four-bathroom unit asking $13.7 million. Mick Duchon and Eloy Carmenate of the Corcoran Group represent the listing.
While 41 new luxury listings were added to the market, the total luxury inventory saw a slight decrease of only one listing, bringing the total to 1,228. This suggests a continued absorption of high-end properties in the Miami-Dade area.
Compared to the previous week, which saw 25 contracts signed for a combined $274.8 million, this week’s activity indicates a slight slowdown in the volume of transactions. However, the consistently high asking prices demonstrate the enduring strength of Miami’s luxury real estate market.
In comparison, New York City saw 26 contracts signed in the same week, with a combined asking price of $207.4 million and an average time on market of 384 days, according to the Olshan report. This suggests that the Miami market is moving at a faster pace than New York City.
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