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South Florida Luxury Real Estate Sales Heat Up

As the season starts in South Florida, luxury real estate deals are closing across the tri-county region. This article covers the latest roundup of residential sales spanning from Sunny Isles Beach to Palm Beach, with prices ranging from $7.1 million to $12 million.

Manolis Kotzabasakis and his wife, Marianna Kotzabasakis, purchased unit N-2301 in the north tower from the developer for $11.9 million. Manolis Kotzabasakis is the CEO of CentralSquare Technologies, a public sector tech firm selling software that manages 911 calls, criminal records, evidence, and development processes.

In the north tower, construction boss Michael Petillo flipped his condo for $12 million, after purchasing it for $7.7 million in May. Petillo sold unit N-2001 to an LLC named for the address and managed by Surinamese entrepreneur Otmar Sibilo.

Yansy Checa of Acqualina Realty had the listing, and Leonore Aguirre-Sibilo and George Khoury of GK Realty Group brought the buyers. The condo has five bedrooms, six bathrooms, one half-bathroom, and was sold furnished.

Palm Beach Homes

In Palm Beach, Ross Meltzer, the son of late Long Island real estate developer Irving Meltzer, sold his home for $9.2 million. Meltzer sold the house at 209 Bermuda Lane to an LLC named for the address. The true buyer is unknown.

Margit Brandt of Premier Estate Properties had the listing, and Beth Cole of the Corcoran Group brought the buyer. Meltzer purchased the Bermuda Lane home in Palm Beach’s North End for $2.5 million in 2013. Built in 1952 on a quarter-acre, the three-bedroom, three-bathroom house spans 2,800 square feet and has a pool.

Adrian Tauro, an investment adviser at ScotiaMcLeod in Toronto, sold his house in an off-market deal for $7.1 million. Tauro sold the home at 221 Oleander Avenue to a company named for the address and managed by Orestis Vlisidis in Athens, Greece. Tauro provided the buyer with a $2 million mortgage to finance the deal.

Tauro bought the Oleander Avenue home for $6.3 million in January of last year. The 2,600-square-foot house was built in 2018 on 0.1 acres and includes four bedrooms and four bathrooms.

In conclusion, South Florida is witnessing a surge in luxury real estate deals as the season kicks off. From Sunny Isles Beach to Palm Beach, high-profile buyers and sellers are making moves in the market, with residential sales prices ranging from $7.1 million to $12 million.

Orginal article: Link To Article – provided by Kansas City Realtors