S
outh Florida's luxury residential market saw a flurry of high-end sales, with spec developers making significant purchases across the region. Deals ranged from $10.8 million to $12.4 million, with properties changing hands in Coral Gables, Fort Lauderdale, and Miami Beach.

    In Coral Gables' exclusive Old Cutler Bay community, Francisco Dionicio's Dionicio Investment Group acquired a waterfront home for $10.8 million. The property, built on 0.7 acres in 1965, boasts 3,000 square feet of living space, four bedrooms, three bathrooms, and 240 feet of waterfront. Dionicio has a track record of building luxury homes across Miami-Dade County.

    In Miami Beach's gated Biscayne Point neighborhood, hedge funder Jeffrey Feinberg purchased a spec home for $12.4 million. The property, completed this year, spans 5,000 square feet and features seven bedrooms, seven bathrooms, and a pool. Feinberg has invested in several high-end properties, including a Los Angeles mansion he attempted to flip last year.

    In Fort Lauderdale, developer Pascal Nicolai acquired an oceanfront lot for $10.8 million, with plans to build a 10,000-square-foot spec mansion. The property, which spans 100 feet of beachfront, was previously listed for $16.9 million in 2023. Nicolai has a history of developing luxury properties across South Florida and plans to list the new mansion for $45 million.