South Florida Sees Luxury Deals and Development
High-end property sales and construction projects make headlines
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Brazilian soccer legend Kaká buys a Bal Harbour condo, a venture capital investor purchases a teardown on Palm Island, and major construction permits are issued for Miami Freedom Park and a West Palm office
Luxury Property Sales
Brazilian soccer legend Kaká, also known as Ricardo Izecson dos Santos Leite, has purchased a condo in Bal Harbour for $8.7 million. The 3,350-square-foot, three-bedroom and four-and-a-half-bathroom unit is located on the 14th floor of Oceana Bal Harbour. Kaká's condo comes with three parking spaces and three private storage units.
Meanwhile, venture capital investor Ben Ling and his husband, Chris Coudron, have bought a waterfront teardown next to their Palm Island mansion for $40 million. The property, which was on the market for $47 million, abuts the bridge to Hibiscus Island, giving the couple a unique location with limited neighbors.
Major Construction Projects
Miami Freedom Park, a redevelopment project near the Miami International Airport, has been issued a $193 million new construction permit. The project will include over 1 million square feet of retail, dining, entertainment, and office space, as well as 750 hotel rooms, a 58-acre public park, and a new City of Miami administration building.
In West Palm Beach, a $180 million commercial permit has been issued for the West Palm Point office tower. The project, launched by New York-based developer Cohen Brothers Realty Corporation in 2020, has stalled for years and was hit with a foreclosure lawsuit in 2025.
Commercial Deals
A Coral Gables Hospital's off-campus emergency center has traded for $32 million. The seller, an affiliate of Amdur Management, had owned the site for decades. The buyer was an LLC managed by Miami-based Supermarket Management.
Key Facts
- Who: Kaká, Ben Ling, and Chris Coudron
- What: Luxury property purchases and major construction projects
- When: Recent deals and permits issued
- Where: Bal Harbour, Palm Island, Miami, and West Palm Beach
- Impact: High-end property sales and construction projects contribute to South Florida's luxury market
What to Watch
As the luxury market in South Florida continues to grow, it will be interesting to see how these high-end deals and construction projects impact the local economy and real estate market. Will these developments attract more affluent buyers and investors, or will they lead to increased competition and higher prices?
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Brazilian soccer legend Kaká buys Bal Harbour condo
therealdeal.com
Venture capital investor buys Palm Island teardown next door for $40M
therealdeal.com
Miami Freedom Park redevelopment, West Palm office tower among $370M-plus construction permits for week ending July 8, 2026
therealdeal.com
South Florida’s top deals: Miami medical facility trades for $32M
therealdeal.com
Florida AG intervened in developer disputes after raking in donations
therealdeal.com
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