Private School Ransom Everglades buys one of Miami’s most expensive mansions for $34.6 Million
Coconut Grove-based private school Ransom Everglades announced it entered into an agreement to purchase the 6.9-acre La Brisa property. The school intends to add greenspace and improve its facilities following the deal. Ransom closed the deal for the property June 21 for $34.6 million, the highest sale price ever paid for a single family home in Coconut Grove.
Miami-Dade’s Biggest Developer Delays Construction of Downtown Condo Tower
No one can escape the chill creeping into Miami’s luxury real estate market. The Related Group, South Florida’s biggest condo developer, confirmed Wednesday it would delay construction on a 298-unit project called Auberge Residences & Spa Miami.
Miami Real Estate Market Had a Really Bad Month in July
Three main factors are conspiring to slow down Miami’s real estate market: Not enough affordable housing for locals. A lack of foreclosure inventory available for investors to snap up. And a major drop-off in the number of foreign buyers, who’ve been burned by the strong dollar.