South Florida’s real estate market saw significant activity on Monday, January 26, 2026, with a flurry of high-value transactions across the region. From luxury residential sales to significant development site acquisitions, the market demonstrated robust momentum. The most notable deal was the sale of a sprawling lakefront mansion in Coral Gables for $11.7 million, highlighting the continued demand for premium properties in the area.
Key Takeaways
- A Coral Gables mansion sold for $11.7 million, marking the top residential sale of the day.
- Stephen Ross’s entity acquired a majority stake in a West Palm Beach condo building.
- Several other significant residential and commercial property transactions occurred across South Florida.
Luxury Residential Sales Dominate
The star of the day’s transactions was a magnificent seven-bedroom, 9,400-square-foot lakefront mansion at 9001 Banyan Drive in Coral Gables. The property, situated on a one-acre lot, fetched $11.7 million, exceeding $1,200 per square foot. The seller, an LLC managed by Felipe MacLean of Yntegra Group, had purchased the home in 2019 for $6.2 million. The property features a pool, media room, and built-in grill.
Another notable residential sale in Coral Gables involved a newly constructed five-bedroom home at 1212 Sorolla Avenue, which traded for $7.9 million. In Miami Beach, a three-bedroom condo at 501 West Avenue sold for $6.8 million, representing a modest increase from its previous sale price of $6.3 million about a year ago.
Residential land also saw activity, with a nearly 0.9-acre lot at 3231 Calusa Street in Miami selling for $9 million. The seller had acquired the parcel for $4.5 million in 2021.
Commercial and Development Transactions
In West Palm Beach, an entity linked to Stephen Ross, owner of the Miami Dolphins, purchased 71% of the Southbridge Condo building, acquiring 45 out of 63 units for $38 million. This 45-year-old complex, located at 3915 S. Flagler Drive, comprises two three-story buildings totaling 38,000 square feet. The acquisition comes amid increasing pressure on older condominium associations to manage costly repairs and recertifications.
Other commercial deals included the sale of a 177,000-square-foot office complex in Pembroke Pines for $44 million to Midtown Capital Partners. An entity tracing to TPA Group was the seller. Additionally, Miami real estate investor Steve Rhodes sold three parcels in Wynwood, encompassing office, retail, and parking spaces, for $25 million.
The Kolter Group acquired two Miami Beach hotels built in the 1930s for $26 million, with plans to redevelop the site into a 17-story condominium building featuring 37 luxury units, ground-floor retail, and parking.
Market Trends and Outlook
While South Florida’s market remains active, national trends show a slowdown in pending home sales, which fell to their lowest level in over a decade in December 2025. However, the region’s luxury and development sectors continue to attract significant investment, indicating a resilient local market.
Sources
- South Florida Top Real Estate Deals: Monday, Jan. 26, 2026, The Real Deal.
- El-Ad National Properties buys development site in North Bay Village from Luis Navas, The Business Journals.
- Stephen Ross Buys Majority Of WPB Condo Building: The South Florida Deal Sheet (January 26, 2026), Bisnow.
- Courchene Development and Richard True sell Palm Beach spec home, The Business Journals.