As the inventory of luxury listings — homes valued at more than $1 million — grows in Miami-Dade County, one luxury brokerage inks a new partnership aimed at growing its exposure.
ONE Sotheby’s International Realty has partnered with the National Basketball Association’s Miami Heat to be the team’s official luxury real estate sponsor throughout the 2015-2016 season.
According to the brokerage, this partnership gives the firm exposure throughout the American Airlines Arena, the home of the Heat, and the opportunity to support the team during philanthropic events. In short, ONE Sotheby’s is looking to attract new clients, some of which could be Heat players, coaches, ownership or wealthy supporters of the team.
The team’s arena sits in downtown Miami, which is across Biscayne Bay from Miami Beach, South Beach, Bay Harbor Islands, Bal Harbour and Surfside– all prime luxury markets.
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A recent report from Coldwell Banker Previews International showed that nearly 600 luxury homes are currently listed in the two zip codes that comprise Miami Beach: 33139 and 33140. Of those listings, 60 have a price tag that exceeds $10 million.
Spanning July 2014 to June 2015, the same report found that 553 luxury home transactions closed in Miami, with 541 luxury sales occurring in Miami Beach. Of the transactions in Miami Beach, 87 carried a price tag higher than $5 million. Twenty of these sales were for completed for more than $10 million.
The Heat are owned by Micky Arison, who according to Forbes has a real-time net worth of $7.5 billion and is the fourth richest sports team owner. He spent 34 years as the CEO of Carnival Cruises and ranked no. 60 on the Forbes 400. The team’s president, Pat Riley, is said to have a new worth around $80 million.
According to Basketball-Reference.com, the Heat have a number of high-priced players, including four that will make more than $10 million during the upcoming season: Loul Deng, $10.1 million; Goran Dragic, nearly $14.8 million; Dwayne Wade, $20 million; and Chris Bosh, $22.1 million.
