Off-MarketMay 2026 · Updated Oct 15, 20262 min read

How off-market deals actually happen

The best homes often never hit Zillow. Here is the mechanics behind that.

How off-market deals actually happen
Cover photography: Creative Commons / public domain. Photo credits.

Off-market does not mean secret for its own sake. It means a seller who wants discretion, speed, or simply to test the water without a public listing, matched to a buyer through relationships instead of a portal. In the thinner segments of Miami, a real share of the best inventory changes hands this way.

For sellers, going quiet can protect privacy and avoid the "why is it still listed?" question that builds when a public listing lingers. For buyers, off-market access is how you see the home that never shows up in your saved search, and sometimes negotiate before there is a bidding crowd.

The mechanics are unglamorous: direct outreach to owners in the specific buildings and streets a buyer wants, a network of agents who trade pocket listings, and the discretion to handle it properly. It is slower than refreshing a search, and that is the point.

What it looks like in Miami right now

  • One buyer, a whole building. Since July, a Kolter Group and BH Group venture has paid $61.6 million for 163 of the 172 units at Port Royale, 6969 Collins Avenue, buying unit by unit, per Commercial Observer's report of Vizzda's analysis of property records (more).
  • Holdouts got paid. Ten Biscayne 21 owners who had not sold sued in 2023. In a settlement reported September 2, Two Roads Development paid $50 million for the remaining units, per Commercial Observer (more).
  • The buyer can be anonymous. Ken Griffin bought every condo at the 22-story Solaris building on Brickell Bay Drive one by one, for roughly $125 million, keeping his identity hidden until June, per Bisnow (more).
  • It can take years. Moishe Mana's first major Wynwood purchase, in 2009, was a distressed warehouse bought for about $5 million. On September 29 he closed the sale of about 30 acres to Griffin for about $1.1 billion, per Mana Common (more).

None of these started with a public listing. They started with a buyer who knew which buildings it wanted and an owner who got a letter or a call. If you own in a building like these, know who is buying around you and what your unit is worth to that buyer before you answer anyone.

If you are buying in a tight segment or want to sell without a public listing, off-market is worth a conversation.

OFF-MARKETBuying or selling quietly?

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Reported by Commercial Observer, Oct 2, 2026 · Port Royale unit count and total, from Vizzda.Read the original →
Reported by Commercial Observer, Sep 2, 2026 · Biscayne 21 settlement.Read the original →
Reported by Bisnow, Jul 28, 2026 · Solaris condos bought one by one.Read the original →
Reported by Mana Common, Sep 30, 2026Read the original →
Educational content, not financial, tax or legal advice. Bring your specifics and we’ll apply the market to them.

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Enrique Ponte Ojeda
Licensed Florida Real Estate Agent · Carmona Realty Group
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