Record Sale | 3505 South Moorings Way
The home located at 3505 South Moorings Way has just closed for $4,770,000 or $503/sq. ft. This is the first closed sale in the guard-gated community of The Moorings during 2016. It is also the highest sale price on record for a “non-waterfront” home in Coconut Grove (the second highest was 3410 Poinciana Avenue which closed in December of 2015 for $4,500,000).
Although $503/sq. ft. is low for this community, you have to take into consideration the size of the house which was 9,481 sq. ft. When a house is so large it is difficult to value based on a “price/sq. ft.” basis because it reaches a point so high that the number doesn’t make sense for buyers. This was a beautiful home with 7 bedrooms, 7.5 baths on a 25,000 square foot lot designed by renowned architect Phineas Paist. Listing agent was Toni Schrager of Avatar.
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