An oceanfront condominium at 10201 Collins Avenue in Bal Harbour sold for $12.5 million, or $2,995 per square foot, according to recent transaction records. Sellers Phillipe and Josette Pommez found a buyer in Robert and Sandra Bonfield for the 4,200-square-foot residence, which closed on February 13.

The unit features three bedrooms, 4.5 bathrooms, a balcony overlooking the Atlantic, and three assigned parking spaces. Douglas Elliman's Ethan Assouline represented both parties in the transaction. The property had been listed in November at $12.9 million before trading at the slightly lower figure.

The sale represents a substantial appreciation from the sellers' 2016 purchase, when the unit changed hands for $7.3 million. That translates to a 71% gain over the roughly eight-year hold period, or approximately $5.2 million in nominal appreciation. At the 2016 price, the property was valued at approximately $1,738 per square foot, meaning the price per square foot increased by 72% over the period.

For Bal Harbour's oceanfront condo market, the transaction signals continued strength in the ultra-luxury segment, where direct ocean views and larger floor plans command premiums well above the broader Miami-Dade market. The $2,995 per square foot price point places the unit firmly in the top tier of Bal Harbour sales, a submarket that has historically attracted international buyers seeking premium beachfront inventory.

The three-bedroom configuration and 4,200 square feet of living space position the unit as a family-sized luxury residence rather than a pied-à-terre, reflecting buyer demand for larger formats in South Florida's high-end coastal market.