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✨ Lifestyle 🏠 Miami Homes Monday, March 23, 2026 3 min read 5 sources Multi-Source

What's New in South Florida's Luxury Real Estate Market?

Recent Developments, Sales, and Trends in the Region

By Emergent Business Desk Blindspot watch: Single outlet risk

From new condo launches to multi-million dollar sales, South Florida's luxury real estate market is seeing significant activity.

New Developments in the Market

South Florida's luxury real estate market is abuzz with new developments and sales. In West Palm Beach, Anthony Solomon's Ronto Group has launched sales for the Nora House, a planned 11-story, 117-unit condo project in the Nora District. The project, which is set to start construction next year and finish in 2029, will feature units ranging from 1,500 to 2,900 square feet, with prices between $2 million and $6.5 million.

Recent Sales and Trends

In Miami Beach, a waterfront double-lot on the Venetian Islands sold for $24.5 million, with plans designed by SAOTA for an 11,000-square-foot mansion. The property, previously tied to developer Zach Vella, was sold with 120 feet of water frontage and views of downtown Miami.

In Delray Beach, a mansion at 733 North Ocean Boulevard sold for $19.2 million. The buyer was a trust tied to Maurice and Christina Sciammas, with the seller being Edward Farscht, CEO of wireless communications infrastructure firm Diamond Communications, and his wife, Lynn Jaeger.

What It Means for the Market

The recent sales and new developments in South Florida's luxury real estate market indicate a continued demand for high-end properties in the region. The Live Local Act, which was expanded by Florida lawmakers, is also expected to boost the market by incentivizing multifamily developers to set aside at least 40 percent of their units to households earning up to 120 percent of the area median income.

Key Numbers

  • $2 million to $6.5 million: Price range for units at the Nora House condo project
  • $24.5 million: Sale price of the waterfront double-lot on the Venetian Islands
  • $19.2 million: Sale price of the mansion at 733 North Ocean Boulevard in Delray Beach
  • 120 feet: Water frontage of the Venetian Islands property
  • 11,000 square feet: Size of the planned mansion on the Venetian Islands property

What Comes Next

As the luxury real estate market in South Florida continues to evolve, it will be interesting to see how the Live Local Act and other developments impact the market. With new projects and sales on the horizon, the region is likely to remain a hub for luxury real estate activity.

Key Facts

  • Who: Ronto Group, Anthony Solomon, Zach Vella, Edward Farscht, Maurice and Christina Sciammas
  • What: New condo launches, multi-million dollar sales, expansion of the Live Local Act
  • When: Recent sales and developments in 2023
  • Where: West Palm Beach, Miami Beach, Delray Beach
  • Impact: Continued demand for high-end properties, potential boost to the market from the Live Local Act

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Ronto, partners launch Nora House condos in West Palm Beach

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H&H Bagels, Sanguich sign on at Oak Row, L&L’s Wynwood Plaza

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The Weekly Dirt: Live Local Act gets another boost from Tallahassee

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Waterfront Miami Beach double-lot previously linked to Zach Vella sells for $25M

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South Florida’s top deals: Delray Beach mansion sells for $19M

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This article was synthesized by Fulqrum AI from 5 trusted sources, combining multiple perspectives into a comprehensive summary. All source references are listed below.