Ruthie & Ethan Assouline recently made headlines with a record-breaking $29 million dollar sale of Madonna’s former Miami estate, which they sold in just under a month. Working as a husband and wife team, the Assoulines have been serving a global client base in 2 major cities, NYC and Miami.

Born and raised in Miami, Ruthie moved to NYC in her teens and ended up living there for a few years before moving to Switzerland.

Ethan grew up in Casablanca Morocco, and moved to NYC in 2003 where the couple ultimately met and established the Assouline team at compass.

In 2020 they expanded to Ruthie’s hometown – Miami, alternating between Miami and NYC the Assouline team works with distinct luxury properties in both markets.

You both have lived in several places, what do you love most about Miami?

Ruthie: The year-round warm weather, the lifestyle on the water, and the quick access to New York City – we get to live the best of both worlds. 

Ethan: The tax savings!

What inspiration led you towards this path to be in real estate?

Ruthie: I began in real estate nearly a decade ago. At the time I met Ethan, I was working with my parents running their International business. It required working all hours of the night to account for the different time zones and constant business trips.

Ethan pointed out that he thought I would be phenomenal in Real Estate and encouraged me to pursue it, so I did and my growth was exponential. Although Ethan was still in finance at that time, he was by my side for every single transaction. As the business grew significantly, the decision to join forces was a no-brainer.

Ethan: Our dynamic personality and yin and yang skillset. It was clear we worked well together and shared a vision of expanding to Miami while working in both markets.

Is there a particular deal you did in 2021 that you are most proud of?

Selling Madonna’s former Miami estate. It was a trophy listing with the coolest backstory of all time. The news went viral and it was so exciting to see how far the story traveled. We sold the property within a month and broke a record for the area at $29 million.

The Assouline Team – Madonna’s Former Estate Sold at $29M

What would you say your biggest strength is as an entrepreneur? 

Ruthie: Passion and fearlessness.

Ethan: Our ability to think big.

What is the biggest challenge buyers nowadays are facing?

The combination of limited inventory and non-committed sellers.

Who has been your biggest inspiration?

Ruthie: My mother, she built an international business from nothing.

Ethan: My wife.

What is the biggest lesson you learned from a mistake?

Ruthie: How important it is to learn, move on quickly and not let the mistakes weigh you down. 

Ethan: Get everything in writing.

What is the best piece of advice you received?

Ruthie: Get back on the horse faster than you fell off.

Ethan: Always be truthful.

Is there a personal habit that contributes the most to your success?

Ruthie: Being personable and talking to everyone.

Ethan: The ability to see 5 moves ahead.

What book had the greatest impact on your life?

What it Takes – Lessons in the Pursuit of Excellence by Stephen Shwarzman.

How do you think the market will change in 2022?

Despite the stock market tumbling and interest rates rising, the market is still very strong as was the first quarter of 2022. With macroeconomics and global policies being as volatile as they are, there is no way to know. All we can say for today is there is still a supply and demand issue.

How has social media contributed to your success as a realtor?

Social media has been a game-changer in terms of staying connected. The quick access to our clients, brokers, and even friends of our clients is convenient. We have a very sophisticated client who found us on Instagram. What started off as a simple DM evolved into a great relationship and we were able to help her find a home. Coincidentally enough, throughout the process, we learned we had several clients who were friends of her friends!

Is there a non-profit cause that you are involved in and is close to your heart?

Belev Echad – it’s a platform that supports wounded soldiers in Israel. As a Jewish couple, with anti-semitism at higher levels than it has ever been, our safety has never been more important. Taking care of the soldiers who are fighting for us is incredibly important and the positive impact of the organization is fulfilling.

Could you tell us about the most memorable experience in your career? 

Selling the former townhome of Sarah Jessica Parker in August 2020 – at the height of the pandemic – when there were riots in the streets of NYC. This was very interesting because our buyer was about to buy a penthouse and then backed out when COVID hit. Not out of lack of faith in NYC but concern it would not be completed in time as the city had just shut down.

When things settled down in the Summer of 2020, we had to navigate the tricky market and find a home for his family to relocate to. There were no transactions happening above $10M, no post-COVID comps, there were so many guidelines for showing parameters – it was just a wild time.

Is there an app or tool that you could not live without?

Compass Collections which is a tool to help us work with buyers.

What neighborhoods do you specialize in?

We focus on the luxury market in both NYC and Miami. In NYC, south of 96th Street, and in Miami the waterfront estates and oceanfront condos.

Do you have a favorite property that is currently on the market?

Oceana is one of the most sought-after addresses in Bal Harbour. The unit underwent a $3 million renovation and is breathtakingly sleek. The views are mesmerizing and the olympic-style pool is the place to be when the skies are clear and the sun is out.

Who is your favorite architect?

 Robert A. M. Stern

What is the biggest mistake you have seen luxury buyers make when purchasing a residential property?

Making over-the-top or personalized changes. Anything too trendy will turn off prospective buyers when it comes time to put your home back on the market.

Are you seeing more local or out-of-town buyers?

In New York, local buyers. In Miami, buyers from New York, California, Chicago and overseas.

Highest recent sale?

 The former estate of Madonna at 3029 Brickell Ave for $29 million.

Where do you take friends or clients to experience Miami?

Ruthie: Surf Club for dinner, boating to the Haulover sandbar, and the beach in Bal Harbour.  

Ethan: Tennis at Oceana, ZZ’s Club, and Carbone.

 

Connect with Ruthie and Ethan on Instagram! Follow them @ruthie.assouline  @ethanassouline @assoulineteam