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Multi-million sale evidence of luxury real estate recovery

17th Apr, 2013back

395 Amid a spate of encouraging reports surrounding the rise in interest in the luxury real estate market, South Florida has just closed the largest single condo sale in over a year.


In testament to recent reports citing that the luxury real estate market in Florida is set for a rise, a residence at the St Regis Bal Harbour Resort has recently been purchased for an impressive $20 million. As the most substantial sale in over a year, the transaction stands to further support the opinion that high-caliber buyers deem the Sunshine State a promising and potentially lucrative area in which to to invest.


This premier luxury resort and residences, which is reportedly aiming to redefine 21st century luxury living in the area, has created a unique property by combining the floor space of five existing residential units to offer one luxurious living area totaling 14,260 square feet.


Bruce Weiner's firm worked on the St Regis project, providing oversight and marketing direction. He said: "We are appealing to a sophisticated clientele. Working with a knowledgeable sales expert such as Patricia Maurer contributed to our success. We're privileged to offer our residents an unsurpassed luxury lifestyle within their elegant condominium residences. Patricia seeks only the best for her clients and The St Regis Bal Harbour proved a perfect match."


The partnership between Seiger Suarez Architectural Partnership and designers George Yabu and Glenn Pushelberg, working for Starwood Hotels and Resorts, is responsible for the design of the development, which comprises three impressive towers boasting 26 stories each. 


With the luxury real estate market seemingly undergoing a turnaround, this caliber of sale could be the first of many for the state of Florida.