Rapid appreciation for houses held less than two years - Real Estate Home Sales

South Florida CEO, June, 2003

Coconut Grove Growth: A home in Coconut Grove, at 3769 Stewart Ave., sold for $2.15 million ($341 per square foot), after selling for $1.95 million in September 2002. Miles E. Gilman purchased the 6,306-square-foot home from Paul Vartanian and Christabel Vartanian.

* Indian Creek Bayfront: Mexican tycoon Carlos Peralta Quintero (founder of cellular telephone company Grupo Iusacel and manager of Desarrollo Inmobiliario de CV) sold his 4,323-square-foot home at 29 Indian Creek Island Dr. in Miami Beach for $4.9 million ($1,133 per square foot). The buyer was 29 Indian Creek Development LLC. Peralta paid $5.2 million in 2001 for the home, which overlooks Biscayne Bay.

* Normandy Beach Boon: A 3,927-square-foot Biscayne Bay-front home, at 1220 Biscaya Dr. in Surfside, sold for $2.5 million ($392 per square foot) to Doris Bustamante. Sellers Robert Fileni and Daniel Fileni, of Inter-Pro Investment Group, paid $900,000 for the home in 2001.

* Pinecrest Property: A year after purchasing a Pinecrest home for $972,000, Mario A. Gonzalez has sold it for $1.04 million ($199 per square foot). Mario M. Lovo and Nelly Lovo purchased the 5,214-square-foot home, at 12401 Rock Garden Lane in Town and Ranch Estates.

BROWARD

* Marino Pad At River House: Dan Marino and Claire Marino have signed a contract for a condominium at Las Olas River House, the 42-story, 287-unit towers being built in downtown Fort Lauderdale by developers Richard Zipes and Tarragon Realty Investors. The Marmnos have also signed on as the project's spokespeople. The purchase price was not disclosed, although Zipes says it is "comparable to other units that are selling in the seven figures." Dan Marino says the condominium will complement the couple's Weston house as a "weekend pad."

* Lighthouse Point Waterway: A 5,559-square-foot Lighthouse Point home, on a waterway with Intracoastal access, sold for $2 million ($357 per square foot) to Michael Friend. Sellers Gregory M. Bennett and Julie Bennett paid $1.8 million in 2002 for the home at 2380 NE 30th Ct.

PALM BEACH

* Alto Lido Oceanfront: Robert W. Paltrow (of North American Communications) sold his oceanfront home in Palm Beach for $2.07 million ($364 per square foot) to Aspetong Partners Ltd., based in Bedford, New York. The 5,690-square-foot home, at 1250 N. Ocean Blvd. in Alto Lido, last sold for $1.73 million in 1997.

* Palm Beach Plummet: In a move that runs counter to trends, Helen E. Stone sold her Palm Beach home to James S. Karp and Irene Karp for $5.35 million ($564 per square foot) -- less than the $6.9 million she paid for it in 2000. The 9,490-square-foot home is located in El Bravo Park, on an interior lot at 201 El Brillo Way.

* Old Port Village Villa: CMGI founder David S. Wetherell purchased a 5,704-square-foot oceanfront home in Palm Beach County's Old Port Village for $7.5 million ($1,315 per square foot). Seller Mary 0. Connor had paid $1.76 million in 1998 for the home at 11854 Turtle Beach Rd.