According to June 2025 statistics, condos in buildings over 30 years old are spending an average of 62 days on the market—significantly less than the 79 days seen in buildings 29 years old or newer. Meanwhile, luxury condominium sales priced at $1 million and up increased by 6.4% year-over-year in June 2025.

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With an average of three known luxury residences per individual, these influential homeowners represent significant opportunities across real estate, luxury services and wealth management sectors.

Under the proposed plans, the western portion of the site would be paved to continue supporting those Miami Heat logistical needs. Meanwhile, the eastern section would be transformed into a public space featuring a playground, waterfront promenade, kayak launch, public art installations, and green space.

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If finalized, this would mark the largest office sale in South Florida so far this year.

According to documents filed with Miami-Dade County, the proposed headquarters development will feature a 450,000-square-foot office building and is being designed to accommodate an initial workforce of 2,000 employees.