A Sunset Islands Miami Beach house located at 1727 W 27th St. on Sunset Island 2, sold and closed this past Friday for a remarkable price of $6,000,000. If you use square footage as a measure of value, that translates into just about $961 per square foot of living space, making this one of the best sales on Miami Beach in sometime, if you are looking through the eyes of a seller. The sale is another signal that the bottom of the real estate market may well be upon us in the Miami area, at least with regards to single-family homes.
The 6,244 square feet, 4 bedrooms, 6.5 bathrooms house is situated on a 20,000 square feet lot (just short of 1/2 acre), with 100 linear feet on the intercoastal canal, separating Sunset Islands 1 and 2. The contemporary, spacious, open, luxury home was listed for an asking price of $8,250,000 and remained on the market for 310 days, before closing last week.
The exclusive Islands off Miami Beach’s western shoreline, in Biscayne Bay are the Sunset Islands. They can be reached from North Bay Road at 20th and 29th streets. The Sunset Islands real estate community is made up predominantly of single family homes. While there are a few more moderate inland homes, the emphasis is on luxurious bayfront homes with unobstructed views. No matter how large your yacht, there is a home to accommodate it. The close proximity and ease of access to both downtown Miami and Miami Beach, combine to make a property on these Miami Beach islands, a dream home for those who love luxury living.