South Florida’s real estate market is buzzing with significant activity, marked by a series of high-value residential and commercial deals across the region. From luxury waterfront properties to key industrial sites, the market demonstrates robust investor and buyer interest, reflecting continued growth and development in the area.
Key Takeaways
- A vacant residential lot in Bal Harbour fetched nearly $17 million, setting a record for non-waterfront sales.
- The Rubell family continued their divestment of Miami properties, selling industrial sites to Neology for substantial sums.
- Notable figures like Gad Bitton, Jose Mas, and Cesar Molina were involved in significant home purchases.
Record-Breaking Residential Sales
Bal Harbour saw one of the most significant residential transactions with the sale of a vacant lot at 174 Camden Drive for just under $17 million. This parcel, last sold in 2023 for $6.8 million, was acquired by an LLC managed by Canadian auto executive Gad Bitton. Bitton, who owns Holand Automotive Group with luxury car dealerships, also has a history of real estate investments in Bal Harbour.
In Miami Beach, a condo at the Continuum South Tower traded for $11.3 million. The nearly 3,000-square-foot unit was sold by a New Jersey company linked to media executives and purchased by a Canadian entity.
Another high-profile residential deal involved music power couple Tommy Mottola and ThalÃa, who sold a mansion in Bal Harbour for nearly $17 million. The property at 174 Camden Drive was sold by their LLC to Holand Land Holdings Florida LLC, controlled by Gad Bitton.
Furthermore, Jose Mas, CEO of MasTec and co-owner of Inter Miami, partnered with architect Cesar Molina to acquire a waterfront home at 6500 North Bay Road in Miami Beach for $18.9 million. The property, which includes 159 feet of water frontage, was sold by an LLC managed by Jason Rubell and Michelle Simkins.
Commercial Transactions Drive Market Activity
On the commercial front, an industrial property at 1090 Northwest 23rd Street in Miami was the top recorded deal, selling for $10.1 million. The 47,000-square-foot building was sold by an LLC tied to the Rubell family to Neology. This sale is part of a larger transaction where the Rubell family sold multiple sites to Neology for a combined $24 million.
In another significant commercial deal, a warehouse at 1800 Northwest 70th Avenue near Miami International Airport changed hands for $19.2 million. The property, sold by an LLC associated with Jacavi Properties, was purchased by Miami-Dade County.
The Quality Inn Miami Airport – Doral, a 50,000-square-foot property with 135 keys, was traded for $16 million. The seller was an LLC managed by Michel Ciniglio, and the buyer was 3959 Holdings LLC.
Fort Lauderdale also saw substantial commercial activity with the sale of four vacant parcels at 1701, 1717, and 1743 North Andrews Square and North Andrews Avenue for $13 million. These combined parcels span about 2.6 acres and were sold by an LLC managed by Martine Silver, Lori Cobb, and Constance Silver to Covenant House Florida.
Market Trends and Insights
Recent data indicates a widening gap between renters and homeowners in the Sun Belt, with Port St. Lucie showing a notable increase in renter mobility compared to homeowners. This trend is attributed to high mortgage rates and elevated home prices, making homeowners hesitant to move.
Pending home sales across the country saw a moderate rise in April, yet a significant supply shortage persists, particularly impacting middle-class buyers. The market has fewer homes available than a balanced market would suggest, despite improvements in inventory over recent years.
Sources
- South Florida Top Real Estate Deals: June 11, 2026, The Real Deal.
- Rubell Family Sells Neology More Miami Sites for $24 Million, The Real Deal.
- South Florida Top Real Estate Deals: June 4, 2026, The Real Deal.
- South Florida Top Real Estate Deals: May 21, 2026, The Real Deal.
- Thalia, Tommy Mottola, Jose Mas, Cesar Molina Buy/Sell Homes, The Real Deal.