NEW PRICE RECORD IN THE ROADS

We’ve raised the bar, again. We proudly represented the seller in setting the highest sale price per sq.ft. in The Roads’ history at $1,086 per sq.ft., eclipsing the former price ceiling by 16.9%.

We found a buyer for this stunning home prior to its completion and closed within a week of permits being finalized. The marketing for the home was multifaceted and its presentation was carefully crafted. This is how we did it.

BACKGROUND

This client approached us three months before their new build in Miami's The Roads was expected to be complete. The home had undeniable potential, but the unfinished state presented challenges. The location and floor plan, while unique, didn't quite align with the expectations for a high-end new property. We saw an opportunity to influence some finish decisions and maximize the property's value.

CHALLENGES

The property's location wasn't ideal for a luxury home. Multifamily buildings bordered the poolside, and a rundown guest house sat close to the rear of the property. These factors detracted from the privacy and overall feel buyers expected at this price point.

The floor plan, built upon the foundation of a 1950s home, offered a unique layout, but with drawbacks. Living spaces felt constrained, the pool wasn't easily visible from key areas of the house, and the master bedroom was on the smaller side.Additionally, the pool itself was relatively small and positioned on the side of the house, further limiting its appeal. To add to this, new constructions in the area offered larger pools and lots at lower prices per square foot. We also faced competition from desirable neighborhoods like Morningside, Miami Shores, and Shenandoah.

Construction delays added another layer of difficulty as potential buyers and renters were weary of committing to an incomplete project.

Once the final touches were complete, we launched a multi-pronged marketing campaign. This targeted specific brokers with a high likelihood of having interested buyers, ideal buyers based on our research, and even neighbors who had expressed interest during construction. A strategically timed mega open house with a coffee truck and photographer on Mother's Day weekend generated significant buzz and repeat showings. This momentum led to a negotiated offer before the open house even concluded.

RESULT

This property fetched a record-breaking $1,086 per sq.ft., surpassing not just properties in the neighborhood but even those in highly desirable areas like South Miami Avenue. The sale closed within a week of receiving the Certificate of Occupancy (COO) and broke the former price record per sq.ft. by 16.9%.

This success story highlights the power of collaboration. The homeowner and general contractor's openness to suggestions on presentation strategy and finishes ensured a high-quality home that resonated with buyers. Through perseverance and a well-crafted marketing strategy, we overdelivered and achieved a record-breaking sale for a thrilled client.