A $10.95 Million Sale in Riverside Park: What It Means for the Neighborhood

A home in Riverside Park just closed at $10,950,000. That is the highest sale in the neighborhood on record. The previous high was $3 million, set this past June.

The new number is more than triple the old one. That gap is the story, and it is worth understanding before anyone draws a conclusion from it.

The Sale

700 SW 12th Ave closed this month at $10,950,000. Lourdes Maestres of The MPH Team and Hanh Dinh of The Dinh Group marketed the home together. The home is new construction, with six bedrooms, eight bathrooms and about 6,700 square feet on a three-quarter-acre double lot. It carries 134 feet of deeded river frontage and views of the downtown skyline.

For context, Redfin puts the median sale price in Riverside Park at $897,748 for the three months through September 2026, up 20.3% from a year earlier. This sale closed at more than ten times that figure.

Why One Sale Matters

A closed sale is a data point, and it is the first one an appraiser or a buyer reaches for. When a nearby home is priced, the most recent sales carry the most weight. This one is now part of that picture.

One sale does not reset a neighborhood. A single home, with its own lot and its own setting, is not every home on the street. What it does is widen the conversation about what a buyer in Riverside Park has been willing to pay.

We will not predict where values go from here. Anyone who does is guessing. We can show you what the numbers say today.

What It Means for Homeowners

If you own in Riverside Park, your home's value is set by its own features and by recent sales near it. A record close nearby is worth knowing about, and it is a good reason to see where your home sits today.

A market analysis shows you the recent sales that apply to your address, and which of them are truly comparable. It costs nothing and takes a short conversation.

What It Means for Buyers

Buyers in Riverside Park now have a new top of the range to measure against. If you are looking here, expect the conversation around pricing to include this sale. We can walk you through which homes it affects and which it does not.

What Investors Should Look At

A record sale draws attention, and attention is not the same as a return. Investors in a neighborhood like this look at a few things:

• Recent closed sales, including price per square foot and days on market
• What comparable homes are asking now versus what they sold for
• Lot size, zoning and what can be built or renovated
• Insurance, flood zone and carrying costs for the specific address

Here is where Riverside Park stands in Redfin's September 2026 data. Seven homes sold, down from 16 a year earlier. The median home took 172 days to sell, up from 117. The median price per square foot was $553, up 5.8%, and homes sold at about 95% of asking. This sale closed at roughly $1,634 per square foot, close to three times the neighborhood median. That makes it an outlier, not a new baseline.

We can pull these numbers for any Riverside Park address and talk through what they mean for your goals.

What We Are Watching Next

We will keep tracking Riverside Park as new homes come to market and more sales close.

Thinking About Riverside Park?

Whether you own here, want to buy, or are weighing an investment, the next step is the same. Reach out to Lourdes and the MPH Team for a market analysis built on the sales that apply to your address.

MPH Team | Compass | 954.833.0933 | info@mphfortlauderdale.com