By Brosda and Bentley Realtors
In a noteworthy real estate transaction, Mathieu Massa, a prominent developer and restaurateur, has successfully sold his luxurious waterfront mansion on the coveted Sunset Islands in Miami Beach. The seven-bedroom, 6,100-square-foot residence, located at 1826 West 23rd Street, fetched an impressive $32 million in an all-cash deal. This sale not only ranks as one of the most expensive residential transactions in Miami Beach this year but also secures its place as the second-highest sale on the prestigious Sunset Islands.
Details of the Transaction:
The sale of Mathieu Massa’s waterfront home exemplifies the opulence of the Miami Beach real estate market. The impressive price tag of $32 million translates to over $5,200 per square foot, underlining the exclusivity and desirability of this prime property. The transaction, which remains unrecorded as Massa declined to disclose the buyer’s identity, showcases the privacy and discretion often associated with high-profile real estate deals.
Massa’s journey with the property began in 2014 when he acquired the site for $5.8 million. After three years of meticulous development, the mansion was completed in 2017, showcasing Massa’s keen eye for design and luxury. Over the years, the residence has been a source of substantial income for Massa, being rented out for more than $1 million annually. This dynamic investment strategy contributed to the property’s allure and undoubtedly played a role in its significant appreciation since its acquisition.
Market Dynamics and Significance:
The sale of Massa’s waterfront mansion contributes to the narrative of Miami Beach as a hub for high-end real estate transactions. The fact that the property was listed for $36 million in October and eventually sold for $32 million underscores the negotiation dynamics in this competitive market. Despite the slight discount, the deal stands as a testament to the desirability of well-crafted, waterfront properties in sought-after locations like the Sunset Islands.
Notably, this transaction is among the top residential sales of the year in Miami Beach, attesting to the resilience and strength of the local real estate market. The Sunset Islands, known for their exclusivity and stunning waterfront homes, continue to attract discerning buyers willing to invest in the ultimate Miami Beach lifestyle.
Mathieu Massa’s sale of his Sunset Islands mansion for $32 million is a noteworthy event in the realm of Miami Beach real estate. The transaction highlights the enduring appeal of luxurious waterfront properties, the robustness of the local market, and the strategic investment acumen of individuals like Massa. As this sale adds to the city’s reputation for high-profile real estate transactions, it also leaves us curious about the identity of the new owner set to enjoy the unparalleled charm of this magnificent residence on the Sunset Islands.
If you’re looking for a real estate agent in Miami, I encourage you to contact Brosda & Bentley Realtors. We’re here to help you find your dream home and make your life in Miami an unforgettable experience.