Value of Miami's Top 20 Luxury Residential Sales in 2011 Spike 24% Over Last Year

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According to Miami-based luxury real estate firm Zilbert Realty Group, Miami's upper-end real estate market enjoyed a significant lift in 2011.

Mark Zilbert, President of Zilbert Realty tells the World Property Channel, 2011's 20 most-expensive Miami real estate sales fetched a total of $244,539,495, up 23.8% from 2010's similar top-20 list. The 2010 top-20 (most-expensive) real estate sales totaled $197,528,000.

The report outlined the most-expensive real estate sales from 2011. The data represents sales transactions closed by Zilbert and other local brokers, and includes both condos and homes from around Miami-Dade County. The most-notable sales were in Miami Beach, Fisher Island, Downtown Miami, Key Biscayne, Coral Gables and other areas.

According to the report, 13 Star Island was the most-expensive Miami-area property sold in 2011, selling in April for $25.5M. The most expensive property sold per square foot was Setai's Penthouse A. The Setai sale, which was brokered by Zilbert Realty Group, earned $3462 per square foot, selling in December for $21.5M. It set the Miami-Dade record as the most-expensive condo sale ever.

See related news story on WORLD PROPERTY CHANNEL:

• Miami Beach Penthouse Sells for Record Breaking $21.5 Million