It's a sign of just how obscene the Miami real estate market is, when a nice but ultimately not particularly outstanding Mediterranean Revival number on Miami Beach attempts to get over four times the price it sold for 11 years ago.
Last week, the Miami Beach Design Review Board approved Stuart Miller's latest Star Island mega-mansion, a gigantic mashup of a Bond villain lair, the Batcave, a Balinese resort, and even the faint whiff of a brutalist office building thrown for sheer shock and awe.
This immaculately preserved and restored palazzo in the heart of Morningside, the City of Miami's first historic district, was built in 1926. It hist the market on Sunday for $3,399,000, and in the intervening time it must have had a pretty exciting existence, if the bright and eclectic interior is any evidence. Located at 5600 NE 6th Avenue, the house is in the heart of the neighborhood.
One of Coconut Grove's historic and exotic Chinese Village houses is back on the market after flipping on and off for the last few years, with a price cut of about $700,000 from its high in 2015. Listed for $1.175 million now, in 2018, the house was on the market for $1.6M back in 2016, and $1.895M in 2015, at the peak of the real estate boom.
It looks like Morningside's iconic, midcentury modern, Rufus Nims-designed Jetsons House, after being listed for $1.875 million about a year ago, was taken off the market at some point, unsold. Although in a great neighborhood, and oozing with futuristic, modern flair, the house needs work, is rather small, and is on a rather humdrum lot. In this soft market, perhaps almost 2 mil was a tad much?
Thomas Kramer's former Star Island mansion is as wild as all the rumors say it is. Kramer was a playboy in the most bizarre sense of the word, making some smart real estate moves with his wealthy father-in-law's money but also getting involved in some wild flops, like a nightclub called 'Hell' that fizzled out after a few weeks.