RECENT RECORD SALE SIGNALS NO SHORTAGE OF LUXURY HOME BUYERS

While some markets are struggling, the luxury market continues to flourish in many areas. Recently a new record for the highest sale in Belleair Beach, FL was set. Frank Malowany of Smith & Associates (St. Petersburg, FL) represented the buyer in this transaction. Originally listed at $16 million, t his stunning property is located on a two-acre bluff overlooking the intracostal waterway, with immaculate views of Clearwater Harbor and Sand Key. The buyer, who purchased the property as a primary residence, was in a position to purchase a higher priced home, but its ideal location, stunning architecture and unique characteristics were beyond desirable.

Malowany said, “The construction of the property was superior to most in the area. The buyer had an opportunity to purchase the property, which was unique and would have been nearly impossible to recreate for the money it was purchased at — an important criterion to think about when purchasing a home.” Frank concluded by explaining, “The Tampa Bay area is somewhat of an untapped, hidden gem and this sale is indicative of the great values and immaculate properties that are available at implausible prices.”