Originally Listed for $28 Million, This Miami Home Now Wants $48 Million
In a hot Miami market, a waterfront home in the city’s Coconut Grove neighborhood has relisted for $20 million more than its original asking price.
The roughly 10,300-square-foot home on Biscayne Bay is asking $48 million, after first hitting the market for $28 million in 2017, according to listing agent Elena Bluntzer of ONE Sotheby’s International Realty. The eight-bedroom home was on and off the market for several years, and was last listed for $18.745 million in 2019, according to Zillow.
The house spans about 10,300 square feet.
LPG/ONE Sotheby’s International Realty
The house overlooks Biscayne Bay.
LPG/ONE Sotheby’s International Realty
The main kitchen.
LPG/ONE Sotheby’s International Realty
Jerusalem marble flooring in the home.
LPG/ONE Sotheby’s International Realty
There are eight bedrooms.
LPG/ONE Sotheby’s International Realty
The pebble-stone swimming pool.
LPG/ONE Sotheby’s International Realty
The seller is Ernst Swietelsky, the founder of Pots Company Importer, a wholesaler that imports decorative accessories for flowers and plants, Ms. Bluntzer said. He didn’t respond to a request for comment.
Mr. Swietelsky bought the land in 1997 for roughly $880,000, according to public records. He spent about $9 million building the home, completing it in 2004 and expanding it in 2012, Ms. Bluntzer said. The property is his primary residence, she said.
The price increase is warranted in part because Mr. Swietelsky renovated it last year, Ms. Bluntzer said, with updates including the kitchen and light fixtures. The home didn’t sell initially, she said, because Mr. Swietelsky was back and forth about selling before his two children were out of high school. Ultimately, he decided to wait. The property is now returning to market because his youngest child is graduating high school, she said.
Sitting on just over half an acre with about 300 feet of bay frontage, the property is located in the gated community of Camp Biscayne, about 6 miles from downtown Miami. The three-story house has an elevator and ceiling heights that range from approximately 10 feet to 30 feet. Outside, the property has a pebble-stone pool and a roughly 40-foot boat dock with a boat lift. A new sea wall was installed a few years ago, Ms. Bluntzer said.
The home received an offer of $42 million a few weeks ago, before it was officially on the market, Ms. Bluntzer said, but Mr. Swietelsky turned it down.
Since 2019, “the market in South Florida has taken off tremendously,” she said. In Miami-Dade County, the number of sales of $5 million and above increased 360% from January to December 2021, compared with the same period of 2019, according to data from ONE Sotheby’s International Realty.
Write to Libertina Brandt at [email protected]
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