The pace of new single-family home sales, meanwhile, fell 6.1% from September to 598,000. 

The number of homes under construction rose during the month, as homebuilders continued to work through a large backlog of homes. 

The residence sold for $2,506 per square foot, the highest price per square foot deal in Miami.

Mortgage rates continued to weigh on homebuyers in September, following a brief uptick in new-home sales in August.  

New home construction missed analyst estimates in September, falling 8.1% month over month to an annual rate 1,439,000 homes, according to government statistics. 

The 1,094-foot building will be the tallest residential tower south of New York City.

Sales of new homes in the U.S. jumped 28.8% between July and August, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.  

New-home construction posted a 12.2% month-over-month increase in August, thanks in large part to a significant jump in multifamily building.  

The median price of a new home sold during the month was up 5.9%, however, according to figures from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

The pace of new multifamily construction, however, jumped, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.