An esteemed veteran of the real estate scene, Dora Puig knows Miami's terrain better than anyone.
From her view at 306 West San Marino Drive in the Venetian Islands, Dora Puig sees an accessible, pedestrian-friendly neighborhood that’s currently among the hottest in Miami.
If you follow real estate in Miami-Dade County, then you undoubtedly know about Dora Puig. After all, she has set more than a few sales records in her 26-year career. With nearly $2 billion in lifetime sales, the owner of Luxe Living Realty in Miami Beach knows which neighborhoods are hot (or not) and where the deals are. Right now, Puig is bullish on the Venetian Islands, a chain of six man-made islands in Biscayne Bay.
How is the Miami market doing now? It slowed down a lot last spring and summer, but after the negativity and uncertainty of the election were over, I started seeing a lot more activity. Within two weeks of the election, I put three single-family homes under contract.
What significant transactions were you involved with in 2016? One of my listings, at 306 West San Marino Drive in Miami Beach, went under contract for a record price. It’s a 7,076-square-foot, six-bedroom home that was listed for $14.995 million. I sold it to a French gentleman in town for Art Basel, and it closed in January for $13.2 million, making it the most expensive sale in the Venetians in 2016. I was also Pharrell Williams’s listing agent, and I closed the record sale at Fisher Island for the penthouse to Jim Ferraro.
The new waterfront villa at 306 West San Marino Drive was made for indoor/outdoor living and entertaining, with a seven-panel sliding door system leading to the heated pool and integrated hot tub beneath a deck with panoramic views.
Why are the Venetians so hot right now? The bridge, with the old lamp-posts [the Venetian Causeway], really makes for a neighborhood feel. You’ve got joggers and bikers and mommies Rollerblading with their babies and people walking, and it’s a real pedestrian- friendly neighborhood. It’s a very comfortable place to be—and very accessible.
What types of properties are on the Venetian Islands? You can find pretty much any type of residence. Belle Isle is the condominium island, with a little neighborhood of single-family homes. Rivo Alto, De Lido, and San Marino are the three classic Venetian islands and they’re more sought-after. Going west, you have San Marco and Biscayne. Waterfront properties start at $4 million and go up to $30 million. Dry lots start at about $1.3 million to about $5 million.
What other areas are popular besides the Venetians? Bay Point competes with the Venetian Islands and is very hot. It’s completely private, so it’s great for families.
Who are the buyers today? People in the finance world from the Northeast are attracted to Miami Beach, and this is one of the groups that were on hold until the election. They’re starting to really place bids now.
Will President Trump have any impact on our local market? I think our target market, which comes from the Northeast, is receiving him well because they know he’s pro-business. He’s obviously pro-real estate. If he lowers the corporate income tax and capital gains and doesn’t increase taxes, I think that will promote business in a very healthy way. For business and for real estate, I think he will be very good.