Record-breaking prices, a resurgence of new luxury condos and the arrival of international architecture have made South Florida one of the world’s most desirable locations in 2013. At the forefront of this region’s luxury real estate market success is ONE Sotheby’s International Realty, which achieved over $1.6 billion in sales last year.
Founded just five years ago by CEO Mayi de la Vega, ONE Sotheby’s International Realty saw a 36 percent growth year-over-year from 2012, giving the firm the majority market share of condo sales over $1 million, which includes total volume, units sold and listings for sale, in Miami-Dade and Broward Counties. Last year, the firm continued to expand in South Florida by opening new offices in Fort Lauderdale and Sunny Isles and relocating to a larger space in Key Biscayne.
Among the brokerage’s many achievements in 2013 are its significant growth in Broward County and its record of the highest priced sale in Las Olas Isles in more than eight years at $12.5 million. It also represented the seller in a $30 million sale of waterfront residences at 4358 North Bay Road. The firm, whose clientele includes prominent CEOs, investors and celebrities from around the world, represented many notable individuals in 2013, including Billy Joel, Alex Rodriguez and Enrique Iglesias.
“The high-end market has not only recovered, but has seen a drastic uptick in pricing in some submarkets in the last year, reaching new heights as we closed the fourth quarter of 2013,” said Mayi de la Vega.“We forecast strong momentum in 2014, further positioning South Florida on the map with major cities like London, Hong Kong and New York.”
ONE Sotheby’s expanding development sales division saw the arrival of world-renowned architects, such as Zaha Hadid, who are transforming Miami’s skyline. The firm became the premier choice for marketing luxury condo projects for these architects, leading sales for Hadid’s One Thousand Museum development, her first major U.S. project. Because of the brokerage’s global perspective and strong network of regional and international clients, ONE Sotheby’s International Realty was selected to exclusively lead sales for Beach House 8, Glass and Bellini Williams Island, and also completed sales for Cielo on the Bay.
“Condo development is a significant aspect of South Florida’s thriving market today,” said Daniel de la Vega, President of ONE Sotheby’s International Realty. “The surge in foreign investment and strong fundamentals are key factors in the cranes returning to major areas like Miami’s downtown urban core as these projects shape our city.”
ONE Sotheby’s International Realty was ranked number 102 on REAL Trends 500’s Top 500 U.S. Brokerage Companies by closed sales volume for 2013, jumping from number 145 in 2012. The firm was also listed amongst the nation’s top 50 firms by average home sales prices.