Miami Beach Real Estate Blog

Miami Beach Real Estate Blog

Tuesday, April 02, 2013

With such limited inventory in Miami Beach currently, finding homes on the market at all is rare, rarer still is finding a new home. 2068 North Bay Road has been listed on the market for 18.5 million and is scheduled for completion in 2013. Built on an oversize lot, in the modern style, it will be over 12,000 square feet of interior living area and will hold 7 bedrooms, 7 bathrooms, and 2 half baths. With a price tag of this amount, you can be sure that the home will lack nothing in terms of amenity, appointment, and privacy. Some of the amenities listed thus far include, wet bars, library, den, outdoor kitchen, rooftop terraces, heated pool, boat dockage, elevator, formal living, formal dining, and built in closets. This is an incredible home that will blend outdoor and indoor spaces in a way compliant with feng shui principles.

Modern homes and Mediterranean homes have dominated the market in Miami Beach for some time. North Bay Road has a diverse amount of architecture and many homes exhibit the characteristics of these two aesthetic styles. One thing unifies all homes on North Bay Road, and that is luxury. This neighborhood is one of the most famous in Miami Dade county, notorious for high price tags and excellent location. It is minutes from South Beach, and downtown, and many of the homes have incredible views of the Biscayne Bay. For more information on this home and others in North Bay Road, please contact us today!

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Tuesday, March 26, 2013

A new tower was recently approved by the planning and zoning board of Miami for a residential building from the uber important developers, Sieger Suarez. The project will be 36 stories high and located at 151 SE 1st St. It is directly behind the Gusman Center and will have a reported 352 according to Curbed Miami. The building has not yet been named, and some of its amenities or accoutrements are unreleased. But this comes on the news of dramatic reduction in inventory and a scrambling of developers to obtain land across south Florida.

During the housing crisis there were an estimated 48,000 units available, today there are just 4,200, which is roughly a year supply. Currently there are over 100 new developments that are approved and over 80 are named all over Miami Dade county. From Brickell to Hallandale Beach projects are being approved rapidly to produce inventory for the voracious demand from both international and domestic buyers. The fiscal structure for the purchase of such projects is a large amount down and fixed payments that are geared toward the cash buyer. Mortgage rates are still at record lows, which is helping distressed buyers because they are able to refinance. For information on preconstruction pricing and available residences, contact us today.

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Monday, March 18, 2013

John Pawson project in the former Seville Hotel, the Miami Beach Edition project, has broken the condo record today with the sale of two of its’ penthouses to be combined for a total of $34 million. The price per square foot is $3800 and it marks a 200% above market value for condominiums. This is the record for condominium sales in Miami. The project has yet to break ground, however it will be a two building luxury condominium and resort with hotel rooms and residences. The first building will have 26 stories with the top 2 residential and the second building will be 11 stories.

Among the amenities that distinguish this project are a bowling alley, ice rink, restaurants, and a nightclub. While this sale is preconstruction, it is not the most expensive condominium in preconstruction on the market. The Faena House Penthouse was listed last week for $50 million and the Mansions at Acqualina Penthouse was listed for sale at $55 million. There are more records to be broken in terms of condominium sales. The pace at which these incredible preconstruction projects are selling is astounding. For more information on prices for the Miami Beach Edition condominium residences and other projects, contact us today.

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Wednesday, March 13, 2013

Faena, located at 3301 Collins Avenue in Miami Beach, may not be built yet, but it has one of the most expensive penthouse listings in south florida listed on the market. The penthouse at Faena is listed for $50 million and is the second most expensive listing for a condo in South Florida, amazingly. Mansions at Acqualina has the first expensive listing which is $55 million and both of these listings are miles more expensive than the current penthouse record which was set last year at The Setai, for $34 million and also more expensive than the current record of a single family home sale which was also sold last year for $47 million.  This listing would break records and it is not even built!

With a price tag of $50 million, you can rest assured that this will lack little in sophistication and grandeur. The penthouse is estimated to have over 8,000 square feet of interior space and over 10,000 square feet of rooftop space. The rooftop will be accessible by private elevator and will have gardens, a 30 foot pool, outdoor kitchen and much much more. The interior of the home will be nothing short of palacial since the architect is one of the most reknowned in the country, Norman Foster. This is one of the 80 planned developments in South Florida currently, and is sure to be one of the most coveted addresses in all of Miami. For more information on this incredible listing, contact us today.

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Friday, March 08, 2013

Homes in Miami have a rich history and when listing a home, it is to your advantage to let prospective buyers know how different your home is in order for them to feel the need to purchase it. In the current market, homes are at a 6 month supply and those looking to list their homes are at a distinct advantage since the inventory is limited. This being said, the presentation of a home is extremely important. When you list your home and begin to have showings, your home should stand out in a meaningful way. Let your realtor know what you believe are the most distinctive features of your home and they will insure that the buyer is aware of them as well. Here are some tips, and if you are looking to sell your home, we could not recommend a better time!

  1. Leave the door open. The term open house really can mean a number of things. An open home is an inviting home and whether or not you are hosting an open house, even a listing will appreciate open doors and open windows allowing the beautiful Miami breezes to come through. It is a sign of welcome internationally as well, which is important with the diverse clientele in Miami.
  2. Sight Smell and Sound. If you have a surround sound stereo system, ambient music can be an advantage, as is pleasant smells. Sometimes realtors go so far as to bake cookies or have at least air fresheners about the house. Make sure that personal effects are put away as well. Keep your home a clean slate for those looking to move in!
  3. Showtime: Time the showings of your home, if it is possible so the lighting is to your best possible advantage. If your home faces west then, sunsets are ideal. Some of the views of water are best appreciated in the morning and in the afternoon.
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Thursday, March 07, 2013

42 La Gorce Island has been listed on the market for $37 million, making it one of the most exclusive listings in South Florida and Miami. The home is situated on a 70,000 square foot lot and the main home is just under 17,000 square feet. It includes a guest home and staff quarters separately from the home which is 11 bedrooms and 14 baths with 3 half baths. Every inch of this estate is custom and the furnishings are all designer and Versace. Some of the interior amenities include a theatre room, double kitchen, fitness facility, gold leaf details, hand painted ceilings, and rotunda ceilings and much more. This is one of the most ornate listings in Miami currently.

The location of this home could not be more private or serene. La Gorce Island is at the north tip of Miami Beach at the end of North Bay Road and this home occupies 70,000 square feet with 349 square feet of waterfront, the home is 17,000 square feet. This amount of lot space is nearly unheard of in Miami outside of Indian Creek Village. The home has a guard house and two guest houses, with a 5 car garage and circular drive. The pool overlooks unobstructed Biscayne Bay and it has 3 teak docks that can accommodate a large yacht and various watersport equipment easily. This truly is a show home and the most exclusive on the market in La Gorce Island, if not in north Miami Beach. For more information, contact us today.


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