Miami Beach Real Estate Blog

Miami Beach Real Estate Blog

Monday, June 24, 2013
Tags:   Miami Beach homes, MIami Association of Realtors, Home prices, selling

The Miami Association of Realtors and the Greater Fort Lauderdale Realtors Association have released the numbers for May 2013. Incredibly, sales numbers are still strong, despite the very tight supply of homes and condos. Buyers are paying asking prices, and in some instances above asking for property. Experts believe that the recent announcement by the Federal Reserve Bank that stated it would be tapering off the mortgage buying program that was part of the economic stimulus package is giving buyers a sense of urgency to buy. Prices of homes are rising dramatically in Broward and Miami Dade and this truly is an excellent time to sell, as well as buy. If you are even the least bit tempted to sell your home, we recommend meeting with one of our agents today to see what your home is worth in todays market. Here are the numbers and happy buying and selling!

Miami Dade County: May 2013

  1. Single Family Home Price rose by 16.8%, $222,000 from $190,000.
  2. Condo prices rode 20% from $180,000 from 150,000

Broward County: May 2013

  1. Single Family Homes rose by 22.6% to $255,000 from $208,000, supply of 3.4 months
  2. Condos rose by 28.2% to $108,000 from $84,275, supply of 4.3 months

 

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Monday, June 17, 2013
Tags:   Miami Beach homes

Rosie O’Donnell’s Star Island mansion was sold for a reported $12.657 million. This represents a near double increase in what the celebrity paid for the home in 1999, $6.75 million. The home was originally built in 1923 and in the 1970’s was home to the Ethiopian Coptic Church Headquarters. Since O’Donnell has been in possession the home has been upgraded with the latest amenities including 2 guest homes and top of the line furnishings and finishes. It has 12 bedrooms and 11.5 baths within an enourmous 11,000 square feet. It was originally listed at just under 20 million in 2012, and then this year was reduced to $16.5 million. There is speculation regarding the timing of the sale, since the celebrity’s contract with the O Network was cancelled.

Rosie O’Donnell is not the only person making money in the Miami Beach real estate marketplace. Many stars have just recently sold their Miami Beach property. A-Rod, Billy Joel, and Matt Damon recently sold their ultra luxury homes and while some may concerned what that means for the market, in realty, the stars are making their investment back, and some. There are few markets that have the type of incredible luxury homes that are found in Miami Beach. Record breaking sales have punctuated this whole year and the community of brokers are getting offers that exceed many expectations. For more information on the homes of Star Island and other island communities of South Florida, contact us today.

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Monday, June 10, 2013
Tags:   normandy island homes

1001 North Shore Drive  is a completely renovated home on Normandy Island. It was completed in 2012 and has everything you could ask for in a luxury home. The style is mid century modern and it is a coveted corner lot on the isle. The windows were replaced with hurricane impact glass and all of the flooring is marble and hard wood. This home really is stunning. The kitchen is chef ready with top of the line appliances and it is all in a chic modernist and minimal aesthetic. There are views of the Biscayne Bay and Miami Skyline from virtually every window. It has 5 beds and 5.5 baths within over 5,000 square feet. The lot is generous with over 16,000 square feet and the views of the Biscayne Bay and the Miami skyline are some of the most stunning in all Miami. The home is listed for $3.25 million, which we expect will sell very soon.

Normandy Island is in Miami Beach, however it is not technically on the island of Miami Beach, it is its’ own island. It is one of the most desired locations in Miami and is gated and guarded and has its’ own public golf courses that is considered one of the most enjoyable in Miami. It is a 10 minute drive from South Beach and a 20 minute drive from the Miami International Airport and Downtown Miami. Shopping at Bal Harbour is under 10 minutes and the beach is just a five minute drive. The spa at Canyon Ranch is in the neighborhood and you will appreciate the incredible dining and lifestyle that await in this neighborhood. For more information on this home and others in Normandy Isle, contact us today.

 

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Monday, June 03, 2013
Tags:   Miami Beach homes, Island Homes

This week we are featuring and incredible and historic home that harkens back to the glamourous and prosperous period of Miami Beach history, the Roaring 1920’s. 31 Star Island Drive has been announced on the luxury Miami Beach marketplace with much acclaim and a high price tag of $24.9 million. The home boasts incredible westerly views and is on a massive 1.5 acre lot. It is in the Mediterranean style and has 10 beds and 8 baths within an over 10,000 square foot main home. It also has a coach house and three staff quarters. There is very little that does not amaze in terms of amenity and appointment at such an estate. It has two boat docks, sparkling pool, expertly manicured grounds, perfectly maintained arches and porticos, a movie theatre, top of the line gym, and chef ready kitchen. This truly is an exquisite piece of property that also has its’ fair share of history as well.

Star Island is synonymous with incredible luxury and celebrity. Sean Puffy Combs, Rosie O’Donnell, and many other celebrities have made this ultra exclusive island home and it is guarded day and night by both boat and patrol. It is two minutes from the heart of South Beach and it is five minutes from Downtown and Brickell. The Miami International Airport is a 20 minute drive as is the private executive airport, Opalocka. The boating in south florida from Star Island cannot compare and there are no fixed bridges from your boat dock to the ocean. Homes on Star Island start conservatively at $10 million and carry with them an unparralelled level of prestige. For more information on this listing and others on Star Island, contact us today.

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Thursday, May 30, 2013
Tags:   Miami Beach homes

This week two records were broken at the Setai in South Beach. The sale of a non penthouse apartment for $8.6 million has all of South Florida talking. Checking in at $3,411 per square foot, this three bed three bath luxury condo represents a 74% price increase in the luxury building. The home was acquired by Theory clothing tycoon who purchased from Le Frak LCC. It sold in 2012 for $6.5 million. A gain this substantial is indicative of the tight inventory in Miami and the continued demand. The market really is showing no sign of slowing and listings are obtaining asking prices if not more with bidding wars insuing. One thing that cannot be overlooked however is the incredible nature of the Setai.

The Setai is located in the heart of vibrant South Beach and is an ultra exclusive resort and residence complex. It has casual and gourmet dining and five star status by all hotel standards. Setai enjoys 24 hour security and concierge, business amenities and private butler service if a resident or guest requires it. There are unbelievable features in the building as well, with a state of the art fitness center, incredible spa, three ocean front pools, within in an incredible zen minimalist architectural style. You will not believe your eyes when you walk into the serene doors and all your worries disappear. If you are looking to sell at the Setai, now could not be a better time, and if you are looking to buy at Setai, we are your waterfront condominium experts. Contact us today!

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Tuesday, May 21, 2013
Tags:   Sunset Island Homes, Miami Beach homes

Sunset Islands are among the pricey man made islands that comprise Miami Beach. Homes in Sunset Island enjoy 24 hour security as well as incredible waterviews of the Biscayne Bay and Miami skyline. The Sunset Islands are just off the main barrier island that is Miami Beach, and as you cross a small canal, you find yourself in the heart of South Beach. The dining options and shopping abound in this twenty block internationally acclaimed hot spot. The Miami International Airport is a mere 20 minute drive and downtown Miami is a fifteen minute drive. Among the residential neighborhoods of Miami Beach, the Sunset Islands truly stand out from the rest in terms of views and privacy.

When a home comes on the market in the Sunset Islands, it is certainly noticed and given the limited inventory in Miami Beach, we took notice of this home right away. 1844 W. 23rd Street is located on Sunset Island 111, and is listed for $11 million. This 6393 square foot Spanish style waterfront mansion is stunning, inside and out with 4 beds and 4.5 baths on an oversize lot. It is located on the water and has incredible views of the Biscayne Bay and Downtown Miami. The interior has truly spectacular custom detailing and everything in the home is top of the line. It is decorated in a style that few will find fault with and is all designer. The home has a lagoon style pool with lush landscaping, and a boat dock with electric lift. For more information on this listing, contact us today.

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