Miami Real Estate Market Update: A Deep Dive into the Latest High-Value Sale at Oceana Bal Harbour

By Brosda and Bentley Realtors

The Miami real estate market continues to draw significant attention from buyers and investors around the globe, particularly with its record-breaking sales and luxurious properties. One of the most notable transactions recently is the sale of Unit 802 at Oceana Bal Harbour, located at 10201 Collins Avenue. This transaction not only highlights the market’s resilience but also underscores the allure of high-end beachfront properties in Miami.

Sale Overview:

  • Address: Oceana Bal Harbour, 10201 Collins Avenue, Unit 802, Bal Harbour, FL
  • Sale Price: $6,300,000
  • Price Per Square Foot: $2,970
  • Unit Size: 2,121 square feet
  • Bedrooms: 2 + Den
  • Bathrooms: 3

The Property: Unit 802 at Oceana Bal Harbour

Unit 802 at Oceana Bal Harbour represents the epitome of luxury living. This 2,121 square-foot residence offers panoramic direct ocean views, which is one of its most compelling features. With two spacious bedrooms, a den that can be used as an office or additional sleeping area, and three lavish bathrooms, this unit caters to both comfort and elegance.

Interior Features:

  1. Gaggenau Appliances: The kitchen is equipped with top-of-the-line Gaggenau appliances, synonymous with high performance and sleek design. These appliances are complemented by custom kitchen cabinets that blend functionality with style, providing a modern yet timeless aesthetic.
  2. Spacious Layout: The open floor plan ensures a seamless flow between the living spaces, enhancing the unit’s airy feel. The expansive windows not only offer stunning ocean views but also flood the interiors with natural light.
  3. Luxurious Bathrooms: Each of the three bathrooms is designed with premium fixtures and finishes, providing a spa-like experience at home. The master bathroom features a deep soaking tub, separate rain shower, and dual vanities.

Exterior Features:

  1. Balcony Views: The private balcony offers unobstructed views of the Atlantic Ocean, providing the perfect spot for relaxation or entertaining guests. The sight of the endless horizon adds a tranquil element to the vibrant Miami lifestyle.
  2. Walkability: One of the significant advantages of this location is its proximity to the Bal Harbour Shops. Residents can enjoy a short stroll to some of the finest shopping, dining, and entertainment options in Miami.

Building Amenities: Oceana Bal Harbour

Living at Oceana Bal Harbour means enjoying a plethora of five-star amenities designed to enhance the lifestyle of its residents.

  1. Tennis Courts: The property boasts two tennis courts, providing residents with the opportunity to stay active and enjoy the outdoors.
  2. On-Site Restaurant and Bar: The on-site restaurant and bar offer gourmet dining options and a place to unwind with a cocktail, all within the comfort of the building.
  3. Spa and Fitness Center: The state-of-the-art spa and fitness center are equipped with the latest exercise equipment and offer various wellness treatments, ensuring residents can maintain their health and well-being.
  4. Swimming Pools: Oceana Bal Harbour features two swimming pools, complete with beach and pool service. These areas serve as ideal spots for relaxation and recreation.
  5. Movie Theater: The private movie theater allows residents to enjoy the latest films in an intimate and luxurious setting.
  6. Social and Kids Rooms: The social room is perfect for hosting events or meeting neighbors, while the kids’ room provides a safe and fun environment for children to play and interact.
  7. Concierge and Valet Services: The 24-hour concierge and valet services cater to residents’ needs, ensuring a seamless living experience.
  8. Security: The building is equipped with 24-hour security, offering peace of mind to residents.

Market Analysis: Understanding the $2,970 Per Square Foot Valuation

The sale of Unit 802 at $6,300,000, which translates to $2,970 per square foot, is a testament to the high demand for luxury properties in Bal Harbour. Several factors contribute to this impressive valuation:

  1. Location: Bal Harbour is one of the most prestigious neighborhoods in Miami, known for its upscale lifestyle and exclusivity. The location alone commands a premium price.
  2. Oceanfront Views: Properties with direct ocean views are highly sought after, and they significantly boost the property’s value. The panoramic views from Unit 802 are a key selling point.
  3. Luxury Amenities: The extensive range of amenities at Oceana Bal Harbour adds tremendous value. Buyers are willing to pay a premium for the convenience and lifestyle these amenities provide.
  4. High-End Finishes: The use of premium materials and appliances in the unit justifies the high price per square foot. Gaggenau appliances and custom cabinetry are examples of the quality that discerning buyers expect.
  5. Market Trends: The Miami real estate market has seen a surge in demand, particularly for luxury properties. The combination of low inventory and high demand drives up prices.

The Appeal of Bal Harbour: A Closer Look

Bal Harbour stands out as a prime destination for luxury real estate, offering a unique blend of natural beauty, high-end retail, and exceptional dining options. The village’s tranquil environment and proximity to Miami’s vibrant cultural scene make it a desirable location for affluent buyers.

Key Attractions:

  1. Bal Harbour Shops: Known as one of the top shopping destinations globally, Bal Harbour Shops features luxury brands such as Chanel, Gucci, and Neiman Marcus. The shopping center enhances the appeal of living in Bal Harbour.
  2. Beaches: The pristine beaches of Bal Harbour are a major draw, providing residents with easy access to some of the best beachfront in Miami.
  3. Cultural Offerings: Bal Harbour is close to various cultural institutions, including museums, galleries, and performance venues, enriching the lifestyle of its residents.
  4. Privacy and Security: The village offers a high level of privacy and security, making it an attractive option for high-net-worth individuals seeking a secure and serene environment.

A Record-Setting Sale Reflects Market Strength

The sale of Unit 802 at Oceana Bal Harbour for $6,300,000 ($2,970 per square foot) highlights the continued strength and appeal of the Miami real estate market, particularly in high-end segments. The combination of luxurious amenities, stunning ocean views, and a prime location in Bal Harbour creates a compelling package that discerning buyers find irresistible.

As Miami continues to grow as a global destination for luxury real estate, sales like this are likely to become more common, setting new benchmarks and attracting further interest from buyers worldwide. The Oceana Bal Harbour sale is not just a notable transaction; it’s a reflection of the market’s dynamic nature and the enduring allure of Miami’s coastal lifestyle.

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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.

💎 Visit our Website: brosdaandbentley.com
📞 Contact Us: (305) 788–9393

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