Top 3 Most Expensive Miami Beach Home Sales – January 2010
February 24, 2010
When it comes to Miami Beach Homes, there were 11 sales in the month of January 2010. Two of these sales in exclusive La Gorce Island and the other one was a Pinetree Mansion. The lowest sale in January was at Biscayne Beach and as per the MLS description, “buy this house and get a free car”…can’t tell you the details on the car – but the house was on a dry lot at 965 79th Terrace and sold for $225,000.
January’s Most Expensive Miami Beach Home Sale
92 La Gorce Circle – Miami Beach, FL 33141
Listed for $13,500,000 and sold for $9,500,000 on 1/25/2010
This house was on and off the market since September 2005, starting at $17,500,000, was also for rent for $100,000 and finally sold for $9.5 Million. MLS description:
Set on approx. an acre, this remodeled 9700+sf Mediterranean estate offers privacy and elegance. 200+ft of wterfront. 7 brs, ofc, 8.5 baths, fine marble and hardwd flrs, dbl living room w/marble fireplc overlooking the water. Media rm, family rm w/granite bar & spacious kitchen w/breakfast area, sumptuous master suite w/soaring ceilings. Notable exterior features of the grand estate include hand-laid keystone appointments, stone fountains and interior courtyard loggias surrounded by coral stonework.
Features:
- built in 1939
- 9,719 square feet of living space
- 7 bedrooms / 8.5 bathrooms
- waterfront
- 42,749 square foot lot
- 200 feet of water frontage
- House faces East
- Guard-gated island
- 2-story Mediterranean Revival home
- Private dock
January’s Second Most Expensive Miami Beach Home Sale
5745 Pinetree Drive – Miami Beach, FL 33140
Listed for $5,990,000 and sold for $4,650,000 on 1/4/2010
This home was known for it’s short term rentals and was showing on the MLS available for rent for $19,500/month and $27,000/month (long and short term rentals). It had also been on and off the market starting in 2000 with highest listing price of $7,900,000. Personally, Pinetree has never done it for me – some of these homes facing condos across the canal, but you can’t take away the splendor and grand scale of a lot of these Pinetree Homes. Description on the MLS:
Classic, renovated estate on stately Pinetree Drive! All new hurricane impact windows and doors to be installed! Approximately 9000 sf, 5 bedroom, 8 bath home with 150 ft of protected water-frontage! owner will consider financing or trade for other property including condos! Renovations are finished and all doors and windows are in!!!!!
Features:
- built in 1929
- 8,689 square feet of living space
- 5 bedrooms / 6 bathrooms / 2 half-baths
- waterfront
- 26,700 square foot lot
- 150 feet of water frontage
- House faces East
- 2-story Mediterranean Revival home
- Private dock
January’s Third Most Expensive Miami Beach Home Sale
55 La Gorce Circle – Miami Beach, FL 33141
Listed for $3,300,000 and sold for $2,200,000 on 1/19/2010
This home was listed in 2007 for $4,400,000 and then again for $3,300,000 on August 2009 – I’m guessing the million dollar price reduction made the difference with this dry-lot home (meaning NOT waterfront).
Sophistication reigns supreme on this exquisite property. Located on guard-gated La Gorce Island, this beautiful 4 bedroom/5 bath, 5,387 sf home, situated on a 13,750 lot features an abundance of stunning details and amenities such as a luxury kitchen, pool area, high ceilings, master suite with his/her bathrooms and a 2-car garage. Unmatched, awe-inspiring elegance and style. just a few minutes to world-renowned South Beach and downtown Miami.
Features:
- built in 1968
- 5,387 square feet of living space
- 4 bedrooms / 5.5 bathrooms
- 2-car garage
- 13,750 square foot lot
- House faces West
- Guard-gated island
- pool
2009 Miami Beach Home Sales for La Gorce Island
January 5, 2010
La Gorce Island homes are known for their scale and “wow” factor. It is a guard-gated community in Miami Beach with some of the nicest landscaped streets you will see anywhere in South Florida and with large, luxurious homes. As for real estate sales in 2009, only 3 and none of them are waterfront. There are currently 10 homes listed for sale at La Gorce Island ranging in price between $19,500,000 and $1,600,000 – which is again evidence that the high-end Luxury inventory is not moving. Six of the 10 homes currently listed are above $5 million, all except one listed for sale for quite some time.
| Address | Bds | Bths | HBth | sqft | Water | Lot Size | List Price | Sale price | $/sq.ft |
| 6675 Windsor Ln | 5 | 5 | 1 | 4,347 | N | 13,125 | $1,500,000 | $1,450,000 | 334 |
| 6640 Pinetree Ln | 4 | 4 | 1 | 3,534 | N | 12,500 | $1,475,000 | $1,312,416 | 371 |
| 6630 Sheffield Ln | 5 | 4 | 1 | 3,515 | N | 13,125 | $1,300,000 | $1,200,000 | 341 |
The good news about La Gorce is that the average price per square foot is high for homes on dry-lots (non-waterfront homes) – putting the price per square foot based on those 3 sales at $349. I’m curious to see what happens with the Mega-home inventory in Miami Beach – will it start moving in 2010? I’m sure a lot of those home owners hope so.
**UPDATE** There were no additional sales in the month of December in La Gorce Island which makes this real estate market report the FINAL one for 2009.
La Gorce Island Home – Miami Beach Luxury Homes
December 31, 2009
When you think Miami Beach Luxury Homes, La Gorce Island always comes up. The scale of La Gorce Island homes is unquestionably impressive and vistas from surrounding islands always leaves you wanting more. Waterfront homes in La Gorce Island are some of the largest in Miami Beach and the house we are featuring today is the perfect representation of that with 260 feet of water frontage, sitting on the Northeast corner of the island – protected from the elements.
88 La Gorce Cr – Miami Beach, FL 33141
Listed for $19,500,000
Here we have one of Todd Michael Glaser’s impressive Luxury estates. Haute Living Magazine’s Stephanie Wilson gives us the scoop:
His impressive projects are scattered throughout Miami-Dade and beyond. He “started” the design district. He has appeared on HGTV. He built the house featured on Hogan Knows Best. Todd Michael Glaser’s name is one you should know, but he doesn’t necessarily want you to know it.
The home is impressive to say the least – contemporary, simple, austere and phenomenal. With over 20,000 square feet of living space, sitting on a 48,000 square foot lot, guest cabana, elevator, 5-car garage, amazing landscaping….what else could you want? My only concern of course is that we have not seen any waterfront sales in La Gorce in 2009….the whole mega luxury home real estate market in Miami Beach is at a standstill….waiting waiting waiting. The house has been active for sale since January of 2008 starting at $25,000 ($5,500,000 reduction is not bad at all). It’s also currently for rent at $100,000 per month and known to house a few celebs on a short-term basis.
The MLS description reads as follows:
New modern estate on prestigious La Gorce Island, 260′ waterfront, 2 docks, stunning lap pool and spa, elevated guest house/cabana built for peaceful relaxation, oversized rooftop terrace, double high end kitchen appliances, staff house, 5-car garage, generator. Unique marble staircase leads to a splendid master suite with designer bath, terrace overlooking pool and manicured landscaping, commercial Otis elevator. the ultimate sun drenched masterpiece!
WARNING: it’s not you, photos above ARE blurry….courtesy of our MLS
Property Features:
- Built in 2008
- Living square feet: 20,000
- Lot square feet: 48,000 (185′ X 260′)
- 5-car garage
- 260′ of water frontage with 2 docks
- 10 bedrooms / 12 bathrooms / 3 half baths
- Guest house/cabana
- staff house
- pool and spa
- elevator
- faces Northeast
- La Gorce Island location
**property information courtesy of South East Florida Multiple Listing Service and Esslinger-Wooten-Maxwell, Inc. **
2009 Miami Beach Home Sales for La Gorce Island
December 14, 2009
La Gorce Island homes are known for their scale and “wow” factor. It is a guard-gated community in Miami Beach with some of the nicest landscaped streets you will see anywhere in South Florida and with large, luxurious homes. As for real estate sales in 2009, only 3 and none of them are waterfront. There are currently 10 homes listed for sale at La Gorce Island ranging in price between $19,500,000 and $1,600,000 – which is again evidence that the high-end Luxury inventory is not moving. Six of the 10 homes currently listed are above $5 million, all except one listed for sale for quite some time.
| Address | Bds | Bths | HBth | sqft | Water | Lot Size | List Price | Sale price | $/sq.ft |
| 6675 Windsor Ln | 5 | 5 | 1 | 4,347 | N | 13,125 | $1,500,000 | $1,450,000 | 334 |
| 6640 Pinetree Ln | 4 | 4 | 1 | 3,534 | N | 12,500 | $1,475,000 | $1,312,416 | 371 |
| 6630 Sheffield Ln | 5 | 4 | 1 | 3,515 | N | 13,125 | $1,300,000 | $1,200,000 | 341 |
The good news about La Gorce is that the average price per square foot is high for homes on dry-lots (non-waterfront homes) – putting the price per square foot based on those 3 sales at $349. I’m curious to see what happens with the Mega-home inventory in Miami Beach – will it start moving in 2010? I’m sure a lot of those home owners hope so.
Blog Action Day at Prime Miami Beach
October 15, 2009
This year over 9,000 blogs across the world have registered to write about Climate Change because there is power in numbers and together we can make a difference.
So how does Miami Beach Luxury Real Estate relate to Climate Change? easy, think of green products, how real estate is built, what waste is produced, what appliances are used, the “walkable” factor of your real estate to shopping and business. No matter the industry, there is something you can do to help our planet.
I have talked about Green Urbanism because it’s a topic dear to my heart and somehow it seems like Miami is distant from many of the walkable communities concept because of Urban Sprawl. I’ve even talked about Green Designer Finisher for your kitchen, identifying recycled glass counter tops. My favorite is Miami Green Houses from the past where I identify 3 Green Mid-century architects and their masterpieces. And lastly, 5 Green conscious moves for your home (anyone can do these).
Take a look at who else is participating in this year’s Blog Action Day:
- Six Eco Realtors to Watch- Blog Action Day 2009 (Agent Genius)
- Bloggers of all stripes grab a piece of the climate pie for Blog Action Day 2009 (Grist)
- Who’s participating at Blog Action Day
Miami Beach Luxury Home Sales – October 11, 2009
October 11, 2009
There have only been 43 Miami Beach Luxury Home Sales this year above $1,000,000. Think of the implications… last year at this same time there were 71 sales ranging between $1,000 and $13,100,000 which should make you believe that the “recuperating market” is not as palpable as some in the industry are leading you to believe.
I have to admit that certain areas are seeing more movement than others, there are more buyers out there as well, but they are also a lot pickier and not as willing to pull the trigger as they have been in the past….even in the Miami Beach Luxury real estate market.
The Link above will provide a list of all the closed home sales in Miami Beach over $1,000,000 this year. The Average price per square foot for Miami Beach Luxury Homes is currently $542.00 – but I need to stress, as I always do, that generalizing whole real estate markets like this is never a good idea. This number pulls North Beach and Star Island together, for example, which are not even close to being comparable areas – it also pulls dry lots and waterfront properties.
If you separate the different areas and do calculations by location, you get a better idea of what the real average price per square foot is. Obviously, when there is only one sale, like Shaq’s house on Star Island – the average will not say much.
Also note that all the sales in La Gorce Island were all dry lots, so the $348 per square foot average will not even come close to a waterfront property on the island. Similarly, some of the Pine Treearea sales were also dry lots, so comparing the average price to North Beach would be preposterous in my opinion.
Venetian Islands are down over $100 per square foot from last year – that should be a big eye opener to all those sellers that are not being flexible – some Realtors in the area keep giving a false sense of the market to their seller clients – please make sure you remain realistic….even in a recuperating real estate market.
7 things to consider when buying a Miami Waterfront Home
August 2, 2009
If you are buying a Miami Beach waterfront home, you are likely to have a boat or will be considering a boat in the near future. We are constantly asked a number of questions regarding waterfront purchases and Rick and I decided to write a list of 7 important factors to consider when buying a waterfront home in Miami Beach.
Condition of Sea wall - It is important for anyone buying a waterfront property to get a seawall inspection by a structural engineer or a seawall specialist. Inspections should include not only the actual seawall but also settling cracks within the main house, patios and pool as well as dock areas. Because most canal systems in Miami and Miami Beach are artificially made or made with landfills, the integrity of the seawall could ultimately determine the integrity of the structure of the home. Doing a visual inspection of seawalls of adjacent properties is also recommended in order to avoid future settling.
Type of waterfront property – If you look at an aerial view of Miami Beach, you will notice that there are numerous types of waterfront properties: lakes, rivers, canals with direct ocean access, canals with fixed bridges, canals with no ocean access, non-navigable canals, and bayfront homes, to name a few. Depending on the type of boat you have, you will need to consider fixed bridges (clearance heights), depth of canals, and proximity to bay and or ocean access.- There are several waterfront communities in Miami Beach that have direct ocean access but you have to navigate at idle speed for miles which can mean being on your boat for a couple of hours before you can really do some boating.
Boat Dock – it is important to inspect not only the condition of an existing dock, but also if the type of dock can accommodate your boat. There are a lot of canals in Miami with natural coral sea walls and no docks – you may not want to dock your boat next to natural coral. If there is no dock on the property, it may be a good idea to contact DERM (Department of Environmental Resources Management) about what kind of dock they will allow in a particular canal. DERM may even send an inspector out to the property in order to make recommendations.
Davits and/or Boat Lift – depending on the size of the boat, most boat owners will not keep the vessel inside the water and use davits and/or boat lifts to raise the boat out of the water while not in use. Whichever your choice, make sure to inspect existing davits or make sure the existing seawall can accommodate a boat lift of your choice.
Protection from the elements - Bayfront homes are obviously the most desired type of waterfront property but can also leave your property very exposed to the elements (weather and hurricanes). Canal front properties are said to protect not only your house but boats as well in case of increment weather. This doesnt mean that you should not purchase a bayfront home, it means you should consider location when purchasing.
Location of home within a canal – because of the intricate design of canals in Miami and Miami Beach, some canals may be comparable to dead-end streets. These canals, depending on currents and wind may accumulate debris and garbage that can become a nuisance. If a property is located at the end of a dead-end canal, make sure you ask about accumulation of debris throughout the year.
Insurance Costs – just keep in mind that property insurance costs will be higher for waterfront homes, especially open bay properties.There is nothing like owning a waterfront home in Miami Beach. To be able to enjoy our beautiful weather as well as the views is priceless and it is what makes Miami Beach Waterfront Real Estate so unique.
Miami Beach Luxury Homes Real Estate Market Reports
June 11, 2009
The Miami Beach Luxury Home market is moving….slowly…..but moving. There were 5 Luxury home sales in the month of May ranging from $1.2 million to $2.235 million and only 2 of those were waterfront properties. We have been showing more properties in the past month and seems buyers are finally pulling the trigger, so let’s see if June sales show better numbers. Here are the 5 home sales for May 2009:
6630 Sheffield Lane – Miami Beach
This 5 bedroom, 4 and a half bathroom home in La Gorce Island sold for $1,200,000 on May 21. With 3,515 square feet of living space, a 13,124 square foot lot (dry lot) – selling at $341 / square foot. This house was originally listed for $2,400,000 on September 2008 with several status changes since. Here’s the MLS description:
Priced to sell!!! This is hands down the best deal on exclusive La Gorce Island. Spacious family home with great floor plan including large master suite + 3 spacious bedrooms + maids room. Beautiful open kitchen, large screened pool/patio area, formal living and dining rooms, two car garage, all on pristine 24-hour guarded gate and patrolled La Gorce Island. Hurry this wont last long at this price!
That’s a 50% reduction in 8 months!! Love when Miami Realtors say “priced to sell” …hmmm…as opposed to what?
795 Lakeview Drive – Miami Beach
Here’s another 5 bedroom, 4 and a half bathroom home in Lake View Heights in Miami Beach (the are just North of Surprise Lake in Mid Beach). This 3,722 square foot home sits on a 17,204 square foot lot with amazing pool. Originally listed for $1,795,000 on March 11th, 2009 – it sold in only a little over 2 months (May 28th) for $1,590,000. That’s $427 / square foot. Here’s the MLS description:
FINALLY! A fantastic Lakeview home with all the bells and whistles! HUGE lot with over 17,000 sq. ft. of gorgeous pool, patio, beach, and green space. This wonderful property has 3 bedrooms up and 2 down with hardwood and terrazo floors throughout. Gorgeous state of the art eat in kitchen, formal dining and living, and fantastic family room overlooking magnificent grounds. Light, bright, open, spacious, and ready to move in. Incredible home…Incredible location…Incredible Opportunity!
288 S. Coconut Lane – Miami Beach
Now HERE’s a house! Modest 3 bedroom, 3 bathroom, 3,180 square foot home on Palm Island with direct bay views. On a 14,000 square foot lot with 100′ of open bay frontage. Selling on May 8th for $2,700,000. Now this house has an MLS history and a half! being on and off the market since 2001 but seriously “for sale” since August 2006 for $5,800,00 (sadly enough, if they would have priced more aggressively in 2006, they could possibly have made $1.5 to $2 million more….OUCH!). But still selling at $849 per square foot, which is the highest sale for May. Here’s the MLS description:
PRIVATE ISLAND GETAWAY. ENJOY THIS EXCLUSIVE WATERFRONT HOME ON A DOUBLE LOT, LUSH LANDSCAPING, 100 FT OPEN BAY ON GUARDED PALM ISLAND. STUNNING VIEWS OF DOWNTOWN AND PARADING CRUISE SHIPS. PRIVATE DOCK AND BOAT LIFT, 2 CAR GARAGE, SAUNA AND OUTDOOR SHOWER, POOL, LARGE FAMILY/ENTERTAINMENT ROOM, REAL WORKING FIREPLACE, MARBLE AND WOOD FLOORS, STAINLESS STEEL APPLIANCES, HURRICANE IMPACT WINDOWS. BALCONY AND COVERED PATIO TO ENJOY THE VIEWS.
Yes….it’s all in caps as if they were screaming at you (now I have to go back to my listings and make sure my office did not put me on the MLS as a screamer).
209 E Dilido Drive – Miami Beach
This is a fabulous house and close to my heart because I really saw some clients of ours living here (if you are reading, you know who you are). From the moment you walked in this Dilido Island home, you knew the house had been updated with taste and great finishes (the full-mosaic tile pool was very impressive). With 4 bedrooms, 3 and a half bathrooms, 10,500 square foot lot and 60′ of water frontage. Selling for $2,235,000 ($593/square feet) and listed for $3,295,000 on June 2008. Here’s what the MLS reads:
TODAY’S YESTERYEAR! IMAGINE THE MAGIC ALLURE OF 1935 MEDITERRANEAN WITH 2008 COMFORTS. ENJOY WIDE BAY VIEWS, HEATED TILE POOL, COVERED OUTDOOR DINING, MASTER JACUZZI OVERLOOKING THE BAY, SHINY ORIGINAL SPANISH TILE AND WOOD FLOORS, HIGH CEILINGS, LARGE AND LIGHT ROOMS, BEAUTIFUL LANDSCAPING AND A WONDERFUL ENTRY LOGGIA AND COURTYARD. THIS IS A FASCINATING, SPACIOUS AND COMFORTABLE HOME, UPDATED ALL THE WAY TO A STAND-BY GENERATOR. BEST TIME TO SHOW : M-F, 10am-2pm. YOUR BUYERS WILL LOVE YOU!!!
Another screamer – but true description to the house, all except “your buyers will love you” – (I’m yet to call clients “my buyers”). $1 million discount, I’ll take 2 please!
5101 N Bay Road – Miami Beach
Here’s one of those acclaimed Miami Beach Luxury Homes on North Bay Road (dry side, but N. Bay Road still). With 9 bedrooms and 7 bathrooms – 5,695 square feet of living space – 16,102 square foot lot and full of those “foo-foo” details so many people have come to love. Selling on May 1 for $1,800,000 after being listed on and off for almost 2 years starting at $3,499,000 with several price reductions and time off the market in the interim. That’s $316 per square foot).
RARE FIND! NORTH BAY ROAD CORNER DOUBLE LOT-16,102 SF. ONE OF MIAMI BEACH’S LARGEST GATED ESTATES ON A DRY LOT. FLEXIBLE HOME WITH 7 BEDROOMS(INCLUDING A 3-BEDROOM GUEST QUARTERS)+ MEDIA ROOM (IT’S OWN WET BAR)+ OFFICE + 2 PROFESSIONAL-LEVEL RECORDING STUDIOS WITH PRIVATE ENTRANCE WHICH INCLUDES DRIVEWAY FOR TOUR BUS. PALM BEACH STYLE RESIDENCE WELCOMES THE OUTDOORS WITH POOL & COURTYARDS. . CHARMING FAMILY ROOM W/ ORIGINAL 1930S DETAIL (WET BAR, FRESCOS). PERFECT FOR ENTERTAINING OR AS A FAMILY HOME.
What’s great and not so great about Miami Beach Real Estate is that properties in close proximity can be so different. Here you have 5 sales that are completely different one from the other and once again you cannot bunch them all together and come up with a bogus average price per square foot for Miami Beach Luxury Home Sales in May.
I am happy to announce that I left here to check Team Miamism’s listings on the MLS and we are not screamers! Thank GOD!
**all information obtained from the SouthEast Florida Multiple Listing Service**