Skechers co-founder Michael Greenberg has purchased a waterfront-area Miami home for $10.5 million, making it the most expensive recorded residential sale highlighted in South Florida transactions for July 29, 2026. The deal adds to a busy luxury market that also saw high-value sales in Miami, Palm Beach and Miami Beach.
Key takeaways
- Michael Greenberg acquired the Miami property through a limited liability company.
- The home at 3600 Stewart Avenue sold for $10.5 million.
- The 3,400-square-foot residence includes four bedrooms and three-and-a-half bathrooms.
- The sellers bought the property in 2015 for $2.1 million.
Details of the Miami purchase
Greenberg, a co-founder of footwear company Skechers, purchased the residence through an LLC. The home, located at 3600 Stewart Avenue in Miami, was marketed for $10.5 million, matching the eventual sale price.
The property covers approximately 3,400 square feet and has four bedrooms and three-and-a-half bathrooms. Its relatively compact footprint, combined with its location and luxury positioning, helped place it at the top of the residential deals tracked for the period.
Sellers realize substantial gain
The sellers were bag designer Roberta Manelli and financier Francisco Salonia-Ruzo. They acquired the property in 2015 for $2.1 million, meaning the latest transaction represents a significant increase in value before accounting for improvements, carrying costs and transaction expenses.
The home was placed on the market in May. Its listing was handled by Joyce Gato of Douglas Elliman Real Estate.
Other notable South Florida transactions
The Miami sale led a group of prominent deals across the region. Other reported transactions included:
- A Miami home at 2800 Calusa Street, which sold for $8.1 million. The newly built property spans 6,400 square feet and includes five bedrooms and six-and-a-half bathrooms.
- A three-bedroom, three-bathroom residence at 145 Peruvian Avenue in Palm Beach, which sold for $6 million.
- The Julia Hotel at 336 Collins Avenue in Miami Beach, which traded for $9.1 million.
The hotel transaction involved a 29-room, two-story property built in 1932. Its sale price worked out to roughly $314,000 per room.
Luxury market reflects broader pricing pressure
The transactions come as South Florida’s high-end market continues to attract wealthy buyers, even while broader U.S. sellers are adjusting expectations. Nationally, the median list price fell 2.5 percent year over year in June, marking the largest annual decline in the data series dating back to at least 2017.
The Miami purchase illustrates how desirable properties can continue to command premium prices despite wider market pressure. For established owners, the deal also highlights the substantial appreciation that select South Florida homes have generated over the past decade.
- South Florida Top Real Estate Deals: July 29, 2026, The Real Deal.