Real Estate News Highlights for March 2025:
1. Kayak Co-Founder Acquires $24M Miami Beach Penthouse
Steve Hafner, co-founder and CEO of Kayak, has purchased a $24 million oceanfront penthouse in Miami Beach. The luxurious residence boasts expansive indoor and outdoor spaces, including a private rooftop with a pool and panoramic views of the Atlantic Ocean and Miami skyline. www.nypost.com
2. TechCrunch Founder Invests $60 Million in Miami Beach Property
Michael Arrington, founder of TechCrunch and Arrington Capital, has acquired a newly completed home on La Gorce Island in Miami Beach for $60 million. The property features approximately 9,600 square feet of living space, including five main bedrooms, two staff bedrooms, and amenities such as a pool, gym, sauna, and steam room. www.wsj.com
3. Record-Breaking $120M Sale on Star Island
Russian billionaire Vladislav Doronin has set a new record in Miami-Dade County by selling his Star Island estate for $120 million. The 8-bedroom, 9-bathroom mansion features a pool, private dock, and tennis court, highlighting the escalating value of Miami’s luxury real estate market. www.nypost.com
4. Allison Island’s $31.5M Mansion Sale Sets New Record
A spec house on Allison Island has been sold for $31.5 million to financier Paul Casey and his wife, Viktorija. The property boasts six bedrooms, luxury amenities, and a private dock, marking the island’s largest property sale to date. www.nypost.com
5. “White Lotus” Inspired $4 Million Home Renovation in Miami
Luxury home builder Bart Reines has transformed his 7,000-square-foot Bay Point residence into a resort-like sanctuary, inspired by luxury resorts such as Aman and Four Seasons properties. The $4 million renovation includes features like custom scents, ambient lighting, and a pool with a waterfall. www.wsj.com
6. Workers Advocate for Protections in Miami-Dade Redevelopment Plan
As Miami-Dade prepares for a nearly $3 billion redevelopment project in the Little Haiti and Little River areas, advocates are pushing for a community benefits agreement to ensure fair wages, worker protections, and affordable housing. The plan includes 5,730 apartment units, a new Tri-Rail Station, and retail spaces across 65 acres. www.axios.com
7. Brightline Train Boosts South Florida Property Values
Since its 2022 completion, the Brightline train has transformed transportation in South Florida, linking major areas and increasing property values along its route. Notably, Miami’s Brightline station has driven a 31.9% increase in residential sales and a 131.4% rise in property values since 2018. www.nypost.com
8. Brickell Emerges as Miami’s Property Hotspot
Brickell has become Miami’s property hotspot, surpassing traditional areas like Miami Beach and Coconut Grove. The neighborhood scored highly for walkability, community, and facilities, making it desirable for young professionals. Developments like Mercedes-Benz Places and 888 Brickell Dolce & Gabbana are driving property values, with high-priced residences and luxury amenities. www.thetimes.co.uk