Miami Luxury Property Sells for Same Price After Ten Years

posted on February 25th, 2010 filed under: Real Estate News

The home at 8400 SW 52 Avenue (a.k.a. School House Road) in the High Pines and Ponce/Davis vicinity Miami (adjacent Coral Gables) sold in November 2009 for $2.3 million.  That’s barely more than the $2.25 million that the seller paid for the property in 1999 — and less after transaction costs (e.g., brokerage commission) are taken into account.

Not that the seller, Charles Stiefel, was in financial straits.  Glaxo SmithKline bought Stiefel Laboratories for $2.9 billion in July 2009.  Sellers at the high end may have more staying power — but they also have more going power!

Miami and Coral Gables Real Estate Photos -- 8400 SW 52 Ave.

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posted by // This entry was posted on Thursday, February 25th, 2010 at 6:30 pm and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed.

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