4505 Sabal Palm Road, in an exclusive Biscayne Bay community, traded hands for a tidy sum — and broke a sales record amid high demand for living in Florida.
In Bay Point, Miami, it’s a new year — and a new real-estate record.
The Biscayne Bay enclave last week recorded its biggest home sale price ever at $38 million, more than doubling its prior $18 million record set in the not-too-distant past — in 2021. Both the seller and buyer are not yet disclosed. The big-dollar deal was for 4505 Sabal Palm Road, an 8,702-square-foot, seven-bed, nine-bath mansion on a half-acre waterfront property.that businesswoman and philanthropist Adrienne Arsht sold to hedge fund titan Ken Griffin for $107 million, or $5,635 per square foot, last summer.Though a record of its own, this Bay Point closing is a 30% cut from its original $55 million list price.
The lesser-known sibling of the Miami, Miami Beach, Bay Point trifecta, Bay Point was established on land originally settled in the late 1800s by early Miami settlers Michael Sears, William Gleason and Charles Deering.
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