Written by: Featured Real Estate

Non-Waterfront Bay Point Sale Breaks Price Per Square Foot Record

Casa Luna, located at 575 Hibiscus Lane in Miami, has sold for $9.6 million, setting a record in price per square foot for a non-waterfront home in the Bay Point community at approximately $2,433 per square foot. The transaction signals a notable shift in Miami’s luxury market, where non-waterfront properties in prime gated enclaves are beginning to achieve pricing levels historically reserved for premier waterfront homes and highly sought-after communities such as Sunset Islands in Miami Beach. 

The property is expected to be repositioned or remodeled to align with today’s luxury standards — a strategic sale led by Ana Teresa Rodriguez, founder and CEO of ATR Luxury Homes Group at Coldwell Banker Realty, alongside Claudia Aros, the property’s owner and co-listing agent.

Originally acquired by the seller for approximately $2.7 million in 2018, the property has since appreciated significantly over an eight-year period, reflecting both the broader growth of Miami’s luxury market and the increasing recognition of Bay Point as a uniquely positioned enclave. A private guard-gated community adjacent to the Design District and in close proximity to Miami Shores, Bay Point is also near premier private schools including The Cushman School, Centner Academy, and Miami Country Day, factors that continue to attract a new wave of residents seeking privacy, location, and long-term value.

Historically, non-waterfront homes in Bay Point have traded at a discount compared to waterfront properties, with prior sales averaging closer to $1,800 per square foot. This transaction narrows that gap, signaling a shift in how inland properties are being valued within the community.

At approximately $2,433 per square foot, the sale places the property alongside top-tier transactions in enclaves such as Sunset Islands, positioning Bay Point as one of Miami’s most competitive luxury markets.

Located within Bay Point, one of Miami’s most exclusive private guard-gated communities, the transaction further reinforces the area’s positioning among the city’s most competitive luxury enclaves.

“This record sale reflects a clear understanding of where Miami’s luxury market is heading. Today’s buyers are placing a premium on location, privacy, and long-term value, and when a property is positioned correctly, it can achieve results at the highest level,” said Rodriguez.

The closing of Casa Luna reflects continued momentum for ATR Luxury Homes Group in 2026, as demand for well-positioned properties across South Florida’s luxury market remains strong.

(Visited 1 times, 1 visits today)