Photo courtesy of Anca Mirescu
Miami’s condo market saw a powerful week between July 14 and July 20, with 85 closings totaling $89.2 million. At the center of it all was Anca Mirescu of Douglas Elliman, who led the record-setting sale of Penthouse 4702 at Five Park. The $17.5 million deal not only topped the weekly charts but reinforced the enduring strength of Miami Beach’s high-end market.
Five Park PH 4702 Sets a New Benchmark for Miami Luxury Living
Luxury properties continue to anchor the strength of Miami’s condo market. Many high-end buyers are focusing on design-rich buildings, updated amenities, and walkable neighborhoods. The Five Park development remains a symbol of this trend, drawing attention for its elevated living experience.
Spotlight on Five Park’s Premium Appeal
Photo courtesy of Anca Mirescu
Anca Mirescu’s sale of Penthouse 4702 is a clear example of what the modern luxury buyer seeks. “Penthouse 4702 at Five Park was more than a residence — it was a statement,” Mirescu shared.
“With close to 8,000 square feet of impeccably designed interior and exterior space and panoramic views of the Miami skyline and Atlantic Ocean, it offered an unmatched lifestyle that captivated these discerning buyers. The fact that it came fully furnished by Artefacto only elevated the appeal — refined, elegant, and ready to enjoy from day one.”
Miami Condo Market Sees Weekly Uptick in Sales
Photo courtesy of Anca Mirescu
From July 14 to July 20, the Miami-Dade condo market experienced a rise in activity, closing 85 units compared to 75 the previous week. The total dollar volume increased to $89.2 million, showing growth from the previous week’s $85 million total. However, there was a slight drop in the average condo price, which landed around $1.05 million—down from $1.13 million. Similarly, the average price per square foot eased to $607 from $648, reflecting slight price adjustments while maintaining healthy buyer demand.
Top Sale of the Week
Photo courtesy of Anca Mirescu
Penthouse 4702 at Five Park led all transactions at $17,500,000, or $2,972 per square foot. Anca Mirescu and Charlotte Maietto of Douglas Elliman listed the property, while the buyer was represented by Charlotte Maietto and Christopher Wands. The fully furnished residence set a new benchmark for value and design in the tower.
Best Value Entry in the Top 10
Lower Penthouse 4504 at Brickell Heights, 45 SW 9th Street, Miami | Sold for $1,400,000 | $813 per square foot | Listed by Stepan Rudenko and Michael Martirena (Compass) | Buyer’s agent: Michael Wiesenfeld (The Corcoran Group)
Highest Price Efficiency
PH 4702 at Five Park also claimed the top spot in price per square foot, achieving $2,972 psf—reflecting both location prestige and unit quality.
Most Economical Price per Square Foot
LPH 4504 at Brickell Heights delivered the lowest cost per square foot among the top closings at $813 psf, making it a standout for urban buyers seeking central access at a lower price.
Outlook: What This Means for the Market
Miami’s high-end condo market continues to deliver results. While average prices across all sales shifted slightly, the ultra-luxury segment remains resilient.
“This sale reflects the continued strength of the ultra-luxury segment of the market, and showcases what today’s ultra-luxury buyers are seeking: privacy, design, and the ability to entertain on a grand scale — all in one of Miami Beach’s most exclusive addresses,” Mirescu added.
Real Estate Expert Anca Mirescu is not just selling properties—She’s defining the experience of modern luxury living. As the market evolves, those who anticipate the needs of discerning buyers will lead. This week’s top sale shows exactly what that leadership looks like.
For more information please contact: HL Real Estate Group (portfoliomanager@hlrealestategroup.com)
