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North Bay Village waterfront condo building has sold for $25 million, making it the top contract in Miami-Dade County last week. The 15-unit Adagio condo at 7939 East Drive is being marketed as a renovation opportunity for its new owner to re-list the units for sale. The property is owned by Brooke and Christian Torres of Torres Properties, which also operates mobile home and RV resort communities.

    In the latest Multiple Listing Service report, eight contracts were signed between January 6-12, marking another slow week in Miami-Dade's luxury market. The report tracks properties asking $4 million or more and shows a total asking dollar volume of nearly $121.7 million. This includes three single-family homes and five condos.

    The priciest home to enter contract is a Mediterranean-style waterfront house at 4810 North Bay Road, owned by socialite Ann Barish and asking $22.5 million. The average single-family home spent 157 days on the market before selling for an average of $17.2 million. Condos secured buyers last week with an average asking price of $5.8 million after spending about 170 days on the market.

    In comparison, New York's luxury market saw 25 homes enter contract last week, with a combined asking price of $219 million and an average time on market of 899 days.