Miami's Luxury Real Estate Market Thrives: $55M Mansion Sale, Record-Breaking Brickell Deal

Miami's luxury real estate market has shown resilience in the face of economic headwinds, as evidenced by a series of major deals in late 2025. According to Nick Pérez, president of the condo division at The Related Group, the company sold $450 million worth of condos between September and early December. Pérez, who oversees projects like the Crosby at Miami Worldcenter and Nomad Residences Wynwood, highlighted the market's continued strength. As the new year began, a group of investors reached a signed contract to sell their non-waterfront Miami Beach home for nearly $18 million, making it the most expensive of seven contracts signed in Miami-Dade County between Dec. 29 and Jan. 4. The pending deal, which tracked properties listed for $4 million and up in Miami-Dade, underscores the demand for luxury real estate in the area. Meanwhile, luxury homebuilder Alex Pirez, the founder of Mocca Group and Mocca Realty, sold his waterfront Gables Estates mansion for $55 million, according to a previously unreported deal. Although the sale was recorded for $9 million, sources confirmed the higher price. The biggest development site sale in Miami and likely the state occurred in December when Oak Row Equities and Vlad Doronin's OKO Group paid $520 million for a bayfront Brickell property. This deal added fuel to the industry's narrative that Miami's financial district is a prime market, insulated from the economic challenges faced elsewhere in the tri-county region and the nation, including elevated interest rates. Despite these strong sales, the real estate industry acknowledges that some lenders remain cautious due to South Florida's past economic challenges. However, the robust activity in the luxury market indicates a promising start to the year. SOURCES: - Related’s Nick Pérez on the state of South Florida’s condo market - $18M Sunset Islands deal tops pending contracts at year’s start - Luxury home developer Alex Pirez sold his Gables Estates mansion for $55M - Map: Inside Miami’s biggest dev site sales following record $520M Brickell deal