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ADDRESS 338 W. McIntyre Street
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List Price 749,000
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Bedrooms 3
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Full Baths 1
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Sq.Ft. LA 1304
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Lot Sq. Ft. 7500
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We were interested to find out what the
averages here were, so, we did the math and here is what we found...
Of the current pending sales, The average
home on Key Biscayne cost $1,176,384.62, it has an average
of
4 bedrooms, and 3 full bathrooms with
the average living area being 2624 sq.ft. and the average lot size
being
8,529 sq.ft. The average
living area of the Key Biscayne properties listed above cost $448.32
per sq.ft., and
the average price for the square
footage of the property is $137.94.
Funny, when C.G. Rebozo was negotiating
with Mr. Matheson the purchase of the Key Biscayne property where
the "Village Green" is (in the heart of
the island), Mr. Rebozo ("BB"Rebozo) told Mr. Matheson that the property
was not worth the $11 per square foot
that
Mr. Matheson was asking. Mr. Matheson replied, "Yes, you are right,
but it will be worth it one day."
BB Rebozo walked away, thought about it for a few months, came back and
the
price had gone up yet again by a dollar
or so per square foot. Infuriated, BB Rebozo bought the property,
and
said "Yeah, I know it's not worth it,
but it will be one day". That $11 or $12 per square foot is worth far more
than the residential average today of
$137.94. Both men were right.
This particular 9 acre property
sold to the Village of Key Biscayne for right around $10 million dollars
in the
early 1990's. Not taking into
account that this property could have been commercial, just using the residential
numbers from above, the Village of Key
Biscayne would have had to pay well over $37 million dollars in
2004.
And the beat goes on........
Interested in buying or selling a home
on Key Biscayne? Call or email Kathy
Dziura for details at 305 361 1189
Houses that sold from 1/1/04 - 8/1/04, prices, bedrooms, baths, prices, and analysis. Click here.
Stay on the Key
the Hammock
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