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2014 Miami Realtors – Board Leaders

February 17, 2014

Miami Realtors - BOARD LEADERS - YPN CouncilWhat a great surprise to find in Sunday’s Miami Herald – Congratulating 2014 Miami Leaders from Miami Association of REALTORS (the largest Realtor Association in the nation!).  Proud to serve with such esteemed colleagues in the YPN Leadership Board.  (yours truly in lower left corner)

Miami Beach Waterfront Homes Sold in 2013

January 8, 2014

Miami Beach real estate is being watched closely by the rest of the country because it keeps beating records and many think it’s another real estate bubble.  But the numbers may surprise a lot of you because the waterfront luxury market has remained strong but has not appreciated at a fast speed from last year as many hoped.  I can even venture to say that the growth and appreciation in the Miami Beach waterfront real estate market was conservative in 2013.

There are currently 153 Miami Beach waterfront homes for sale right now ranging from a $549,000 North Beach home, to the previously JLo owned $40 Million North Bay Road home.

Although Miami Beach homes remain extremely desirable by locals as well as foreigners, the stable numbers may be a relief for many that remain skeptical.  The median listing price for a Miami Beach waterfront home is currently $5.5 Million.  Out of the 120 waterfront homes sold in 2013, the median sold price was $2.185 Million (compared to $2.8 Million in 2012).  Because real estate is local in nature and I don’t like giving you generalized figures for all of Miami Beach that may ultimately mean nothing to you, let’s look at the Miami Beach real estate market by island.

Star Island Home Sales

1 Star Island waterfront homes sold – located at 43 Star Island Dr – selling at $1,486 per square foot at $16.5 Million.  This Star Island estate has a main house with over 11,000 sq.ft. of living space, and 2 separate guesthouses on a 48,266 sq.ft. lot with over 200′ of water frontage and docking.

43 Star Island Dr - Star Island Home by miamism

Palm Island Home Sales

8 Palm Island homes sold on the water –  highest sale at $10,625,000 for newer construction home located at 130 Palm Ave. with 7,940 sq.ft. of living space, 6 bedrooms / 8 bathrooms and 1 half bath, sitting on a 30,000 sq. ft. lot with 100 feet of water frontage.  The average price per square foot for Palm Island homes coming in at $1,004 which is slightly lower than 2012′s average of $1,211.

Check out this beauty that sold for $7,431,750 in June of 2013- formerly home to Al Capone and totally renovated. The home sits on a 30,000 sq.ft. lot with 100′ of water frontage, over 6,000 sq.ft. of living space and separate cabana. It had been originally listed for $9.95 Million in 2012 and is now back on the market for $8.9 Million after selling for $1,218/sq.ft.

93 Palm Av - Al Capone's Home by Miamism

Hibiscus Island Home Sales

2 Hibiscus Island homes sold on the water –one for $8 Million (pictured below), located at 432 S Hibiscus, with bay and downtown Miami views and the other one for $3.2 Million at 151 N Hibiscus Dr.  Bringing the average price per square foot for Hibiscus Island in 2013 to $967, compared to $1,099 in 2012.

432 S Hibiscus Dr - Miami Beach Homes by miamism

Venetian Islands Home Sales

There were 13 Venetian Island waterfront homes sold – prices ranging between $2.775 and $14 Million, with an average price per sf of $965 compared to 2012′s average of $804.  The highest sale was for Villa Fendi at 1 E Dilido Dr, super contemporary new construction, with media room that doubles as own private nightclub. The home was originally listed for $14.9 Million in October of 2011.

Villa Fendi - 1 E Dilido Dr - Venetian Island homes by miamism

Sunset Islands Home Sales

There were 12 Sunset Island homes sold on the water – prices ranging between $2.9 million and $15.45 Million.  The average price per sq.ft. coming in at $1,029 compared to $976 in 2012.

The highest sale was for the home located at 2555 Lake Av (Sunset Island II), that was marketed as having been owned by “William Pawley, whose son was engaged to legendary Elizabeth Taylor.  The famous couple spent many romantic times at the property, enjoying countless hours by the pool, under the brilliant sun, and later, under the soft Miami moonlight” << gotta love Miami celebrity homes!  The home was renovated – with 7 bedrooms, 9 bathrooms and 1 half bath, over 9000 sq.ft. of living space, 35,100 sq.f.t lot and 150′ of water frontage.

2555 lake av - Sunset Island Homes by Miamism

North Bay Road Home Sales

There were 5 North Bay Rd waterfront homes sold this year.  Their prices ranging between $30 to $3.25 Million and averaging $976 per sq.ft. compared to $964 in 2013.  The highest sale was for A-Rod’s Miami Beach home, an ultra modern estate with almost 20,000 sq.ft. of living space, 275′ of open bay frontage, complete with interior batting – located at 4358 N Bay Rd and selling for $30 Million.

ARod sells miami beach home - reported by miamism.com

This is also where Matt Damon’s Miami Beach home is and is currently for sale for $18,999,000.

La Gorce Island Home Sales

There were 2 waterfront La Gorce Island homes sold. One for $30 Million and the other for $13.75 Million and averaging $1,658 per sq.ft. compared to $908 in 2013 < talk about a HUGE jump!  The highest sale was Castello del Sole, an Italianate estate with 349′ of open bay water frontage, almost 17,000 sq.ft. of living space, 3 docks, lighted tennis court, tiki bar, Versace furniture, double kitchen, rotunda ceiling, library, theater, safe room, 5-car garage and 70,913 sq.ft. lot – nothing humble about this magnificent property.

42 La Gorce Cr - Miami Beach Luxury Homes

Allison Island Home Sales

There were 2 Allison Island homes sold on the water in 2013.  Their prices ranging from $8.6 Million to $3.22 Million with an average price per square foot of $664, compared to $685 in 2013.  The highest sale was for the new construction (from 2011) located at 6633 Allison Rd which was the highest sale in 2012, selling then for $8,325,000 and again in December of 2013 for $8,600,000.  That’s a nice profit for holding the house for 12 months.

6633 Allison Rd - Miami Beach Luxury Homes

North Bay Island Home Sales

There were no waterfront homes sold in N. Bay Island

 

Normandy Island Home Sales

There were 16 waterfront homes sold in Normandy Island. They ranged in price between $740,000 and $3.02 Million for the mid-century modern (featured in our Mia-Mod Homes series), bay front home located at 1001 N Shore Dr – with 5,000 sq.ft. of living space, 5 bedrooms, over 16,000 SF of land and 95 feet of water frontage.  The average price per sq.ft. in Normandy Island coming in at $444, compared to $346 in 2012.

1001 N Shore Dr - Miami Beach Homes for Sale via miamism

Biscayne Point Home Sales

22 Biscayne Point waterfront homes sold in 2013 ranging between $550,000 for a short-sale , to $3,425,000  for the home located at 1651 Cleveland Rd.  This completely remodeled 2-story home has 4,647 sq.ft. of living space, 11,250 sq.ft. lot, has 6 bedrooms, 5 bathrooms with new dock and boat lift and 75′ of open bay water frontage.  The average price per sq.ft. in Biscayne Point increasing to $450, compared to $393 in 2012.

1651 Cleveland Rd - Miami Beach Homes sold in 2013

Stillwater Island Home Sales

5 Stillwater Island waterfront homes sold ranging between $750,000 for a fixer-upper, to $1,517,500 for the home at 1151 Stillwater Dr– with 1,816 sq.ft. of living space, 3 bedrooms, 7,500 sf lot and 50 feet of water frontage.  The average price per square feet for Stillwater decreasing to $523, compared to $590 in 2012.

Pinetree Drive Home Sales

There were 8 Pinetree waterfront homes sold ranging between $1.5 Million for a short sale at 6165 Pinetree Dr., to $10.2 Million.  The highest sale of $10,200,000 was for the remodeled mediterranean mansion built in 1929 with over 14,000 sq.ft. of living space, a 67,000 sq.ft. lot, over 200 feet of water frontage – 2 docks, 3,200 sq.ft. master suite, separate guest house, billiards room, and tennis court.  The average price per sq.ft. in Pinetree coming in at $714, compared to $660 in 2012.

4549 Pinetree Dr - Miami Beach Luxury homes sold in 2013


Miami Beach’s waterfront housing market showed really fast recovery in 2012 but as numbers show, that recovery has remained stable. There were some record-breaking sales that may have skewed the numbers in the past, but it does feel good to reach stability and get away from crazy price increases.  What makes our market different that any other is how desirability of a property can change due to:

  • location even if in very close proximity from another property
  • history of the home – from a picturesque past to celebrity ownership
  • how the house sits on a property related to how the sun rises and sets
  • architectural design and involvement of top name designers
  • water frontage description and views

We also need to keep in mind that 61% of all sales in Miami were CASH as reported in the International Real Estate Congress held by The Miami Board of Realtors this past November.  Cash deals lead to fluctuation in sale prices because these are not bound by appraisals of comparable sales by financial institutions, but buyers still do their numbers and do not just throw money at sellers blindly.  We are seeing properties listed way above market prices with sellers hoping to become another record sale, but just keep in mind that these are no longer the norm, as evidenced by sales in 2013.

Take a look at this graph and see how different islands compare.  The big surprise is how La Gorce Island surpassed Star Island by price per square foot.  The other change is how there is not much disparity between Palm, Hibiscus, The Venetians, Sunset Islands and North Bay Road.  If you are interested in seeing last year’s graph, click HERE.

Miami Beach waterfront homes sold in 2013 by square foot - by miamism

So what will 2014 bring us?  We can always expect some record sales, but we see more of a normalized market that does appreciate conservatively.  Lack of housing inventory will drive prices up in some desirable areas, so be ready to open your wallets in certain scenarios.  And we also expect some unique properties being erected and sold for unexpected prices because we are Miami after all.

We remind you that we specialize in luxury properties in Miami Beach and welcome the opportunity to represent you in your next real estate transaction.  We keep all of our client communications and inquiries confidential.

NINE45 Jefferson Townhomes – South Beach Condos

August 14, 2013

UPDATE: New remaining inventory as of August 12, 2013 – please see bottom of this article and contact us to schedule appointment at Nine45@miamism.com or by calling Ines directly at 305-206-9366

NINE45 Jefferson Townhomes or 945 Jefferson Townhomes

Brand New Miami Beach condo project in the smack center of South Beach.  they are actually townhomes because they are 3 stories with the third story being an incredible sky loft that opens to 2 roof terraces with awesome views of South Beach.  The project is located just South of Flamingo Park on Jefferson and it’s literally walking distance to the beach, to Alton Road and everything in South Beach.

The best part is that is has covered parking!! No more driving around trying to find on-street parking in South Beach.  Each residence comes with one parking spot and you have the option of buying an additional one for $25,000  *see below* (and that’s cheap! considering parking is a commodity in SoBe).

The project only has 7 residences with the front and back ones being the best ones with more light, and the 5 interior ones, sandwiched in between, a bit less desirable, but still great investments.  They are priced between $450,000 and $525,000 *see below – and the monthly maintenance is low at .40 cents (see pricing below as well) per square foot.  Here are photos I took of the interiors:

The residences come finished with Italian ceramic flooring with leather finish, baseboards, painted, Bosch stainless steel appliances, granite counters, impact resistant windows and doors and window treatments and closets!  You do have the option of buying them furnished as well for a bit more – with Bobby Berk Home and Crate & Barrel furniture.

The beauty of a small project like this is that there are no condo restrictions.  If you are buying as a vacation property or second home, you don’t have rental restrictions and can rent as many times as you want during the year can do 6 month rentals (as many as 2 rentals per year). There are also no pet restrictions and you have a dog park near by.

And now to my honest opinion – I loved the front unit because of the light and would buy it furnished at their $545,000 *see below – asking price because it was perfect.  They are not big by any means and the sets of stairs could get a bit old after climbing them a few times per day (but at least you would stay in shape).  The project is great for vacationers, for people that like to be in the middle of  the action and love clean, simple spaces.  The interior units are a bit dark, but honestly, great distribution and still a great price for new construction in the area.  The adjacent buildings are not pretty at all, but that comes with the territory, the impact windows should block out the occasional loud fight from a neighbor or loud music from obnoxious teen.  It is South Beach after all…. and starting at $450k!!*see new price list below –  I definitely endorse this one. :)

Call me to schedule an appointment

Remember our team is ready to help you with your Nine45 Condo Purchase or sale and of course surrounding condos as well. Call us for details 305.758.2323 or nine45@miamism.com

NINE45 Available Inventory – August 2013

Unit 102 – 1,213 sq ft – 360 sq ft roof and terrace – 2 bedrooms / 2.5 bathrooms – $532,500 ($517 monthly maintenance)

Unit 104 – 1,197 sq ft – 360 sq ft roof and terrace – 2 bedrooms / 2.5 bahrooms – $525,000 (510 monthly maintenance)

unit 105 – 1,207 sq ft – 360 sq ft roof and terrace – 2 bedrooms / 2.5 bathrooms – $530,500 ($514 monthly maintenance)

unit 106 – 1,213 sq ft – 360 sq ft roof and terrace – 2 bedrooms / 2.5 bathrooms – $532,500 ($517 monthly maintenance)

unit 107 – 1,257 sq ft – 403 sq ft roof and terrace – 2 bedrooms / 2.5 bathrooms – $560,000 ($535 monthly maintenance)

*All units come with one parking space – additional parking space available for $40,000

Ocean House South Beach

July 27, 2013

Ocean House South Beach is the newest ultra luxury condominium development in the sought-after South of Fifth area of South Beach.  It’s said to be the perfect hybrid between The Continuum and Apogee and remember it is directly on the ocean!

What I personally like about it, is its scale.  You would know by now that I am a friend of smaller buildings that are more personable and have more of a boutique feel for them.  And boutique is the whole concept of these luxury residences – we’re talking 5-star luxury hotel services with butler service, a la carte service with hairstylists in rooms, car detailing, airport transportation, restaurant reservations, room and maids service from The Hilton …you name the service, they will have it!

And yes there is a sticker price to go with that, but I’ll get into that in a moment.  The selling lingo starts like this:

Open the door to your Ocean House and enter a space unlike anything else in South Beach. It’s the newest residence
South of Fifth…boasting grand residences, breathtaking views and uncompromising amenities.
More than an address, Ocean House is a statement about what it means to live the exclusive South of Fifth lifestyle,
with the very best of South Beach outside your door and the clear, sparkling Atlantic at your feet.
A mere 18 Grand Residences guarantee that only a select few will ever call Ocean House Home.

The outside is an unpretentious, restored Art Deco facade, but the interiors are new, are fresh and really have a “feel good” quality to them.  The place has a sort of Soho House feel to it and they told me their original concept was an “extension of home.”

The completion date is said to be April 3rd of 2012.  That will be all the common areas except the lobby.  There will be 18 units on the ocean called “beach homes” with maintenance fees at $1.09 per square foot.

OCEAN HOUSE PRICING

So you have an idea, for a 6,000 sf beach home we visited, completely finished and furnished by Arterfacto, the sticker price is $7.13 Million (realistically selling between $6.5M-$6.7M).  The same unfurnished and decorator ready unit would be priced at $5.9 Million (we’re talking around $1000 per square foot).  Here’s the gorgeous residence:

Ocean House Amenities

YOUR HOME ENVIRONMENT

  • Private elevator access to each residence
  • Living Room with elegant fireplace
  • Private Screening Room with digital theater sound
  • Temperature controlled Wine Cellar with humidor
  • Billiards Room with bar
  • Private Art Gallery and Library
  • Wellness Retreat with state of the art fitness center
  • Vanity Room for manicure and pedicure treatments

BEYOND YOUR DOOR

  • Oceanfront beach club
  • Beachside pool deck with zero-entry pool, private cabanas and WiFi
  • Poolside and beachfront food, beverage and towel service
  • Beachfront jogging path
  • Outdoor game area
  • Potting station for gardeners
  • Outdoor gourmet kitchen

AT YOUR SERVICE

  • State-of-the-art security
  • On-staff butler and concierge
  • Valet parking
  • Luxury car detailing
  • Savor Room Service from top Miami Beach restaurants
  • Monthly event and entertainment guide
  • Pet spa services and more

OCEAN HOUSE FLOOR PLANS

Click on this image to download Ocean House floor plans

Here are photos during our visit to the project – unaltered and unfiltered … so you can see the real thing.

Of course we need to find some negative aspects to this condo project, but they are not that bad.  The first one is parking.  Although there is parking, each unit comes with one parking space except for the penthouse beach houses that have 2.  These are $4 Million plus residences in which owners will have to find alternatives for their automobiles – we’ll have to see how that works out for them.  The second one is pricing.  Yes they are selling this as an uber luxurious condo with white glove butler service, but price may be a factor and I’m guessing a very negotiable one.

*orig 3/8/12

One thing is for sure, there are no luxury projects like this one in The SoFi area, so we have a real winner for those seeking more privacy at a quaint scaled building.  And there will be loft residences opening up in the near future as well….something to keep our eye on.

Remember our team is ready to help you with your Ocean House Condo Purchase or sale and of course surrounding condos as well. Call us for details 305.758.2323 or oceanhouse@miamism.com

Your perfect Miami Beach Realtor

May 3, 2013

If you are thinking of selling your house, what’s the ideal Realtor for you?

  • Is it the one that will tell you what you want to hear?
  • Is it the one that will list your house at the highest price?
  • Is it the one that works for the biggest brokerage?

If you are like most people, you will talk to a couple of Realtors to get an idea of pricing and see how the market is doing.  You may have an idea of what your house is worth and hope your number is close to reality.  You may even have a grasp of reality but know your house is superior and NEED to sell for more than the market dictates.  Even if you don’t know it, you establish a selling strategy before you even interview a Realtor – you set goals in your head of what you want to happen and have pre-conceived ideas on how to achieve those goals.

When the time comes to interview different Realtors, you will end up hiring the one that comes closer to your predetermined plan.  This may be a good thing if your plan comes close to reality and what’s happening in your local real estate market – but what if you are really off?

So let me ask you a question from a Realtor’s perspective.  Wouldn’t it be easy for me, as a Miami and Miami Beach Realtor, to tell you what you want to hear in order to get the listing?  It would look great in my long register of listings, even if the house doesn’t sell – it’s a numbers game, so the more listings I have, the better the chance I have of selling and making money.

Why can’t you realize that overpricing your house will not benefit you!!

Many agents out there will list it at whatever price you want – it’s simple (and one of the reasons the Real Estate Industry has such a bad reputation).  Here’s another scenario: you may think, let’s list high now and we’ll see if the market responds and then we will lower the price. …but you wait, and wait and wait.  You don’t lower the price and then blame the agent for not doing their job.

I just want you to be realistic here.  Please think strategy before you even list your home.  Please take a deep look into your pre-conceived ideas of what is to happen, and hire a Realtor because they will get the job done right.  Take a look at their reputation, at their ability to market the property not only locally but nationally and abroad.  Take a look at how they will make your property stand out from other listings,  how they will communicate and how available they are.

Then make an educated and rational decision of who’s the best man for the job.  And if you decide not to hire the best one for the job, at least know why you did it.

I’ll leave you with a great article written by a colleague in Tucson:  The Effect of Great Marketing – And Good Pricing

The intent here was to make you think – Please know that our team will always tell it like it is – no fluff, just plain truth.  Keep in mind that if you are looking for fluff, we may not be the perfect Miami Beach Realtor for you.

*original article from July 2010

Another Miami Real Estate Crash

March 28, 2013

There are so many differing opinions on the current Miami Real Estate market conditions.   Some are rushing to buy into one of the country’s hottest real estate markets, others feel the comeback is too good to be true.

So which one is it? Who do you believe and what does your gut tell you?

Miami Skyline by Miamism.com

The truth is that fast growth is always scary, especially right after one of the most horrible real estate crashes in history. But there are some facts that can’t be ignored and that has to do with Foreign Nationals trusting and buying into our market.  South Americans are rushing to buy in Miami because let’s face it, many see a brighter future here and the return on their investment is secure.

Secondly, Miami is a vacation destination that as Richard Florida, founder of The Creative Class Group, mentions, is “different” than other second-home destinations.

Miami is not just a resort destination, but a global economic spike. The flip side of globalization has been the transformation of a small number of global cities — London, New York, and Hong Kong, for example — into locational hubs for what Chrystia Freeland has dubbed “the global super-elite.” Miami fills an intriguing niche in the global economy, which combines elements of a global economic and financial center and an international resort and second-home destination, with all the growth and unevenness that comes with it.

Miami has become a “go-to” destination with arts and culture (ART BASEL leading that effort), with renowned architects changing our city’s skyline (Herzog and De Meuron, Zaha Hadid,Frank Gehry), not to forget a hub for celebrities, and all of that topped with perfect weather,gorgeous beaches and global connectivity which makes it easy to travel in and out of.

Of course as real estate professionals, we want to make you believe that there is no bubble and there will not be another crash, but not even the most in-tune economists can predict that.  The question remains whether or not foreign national investments will be enough to keep our hot market afloat and whether or not the diversity in economic backgrounds will ever start converging in our magnificent city.

I was glad to hear that our colleague, Peter Zalewski agrees with us:

It is impossible to argue decisively for or against the hypothesis of no more real estate boom-and-bust cycles for South Florida given that data necessary to prove or disprove the hypothesis will not be available for several decades.

As your Miami Beach REALTORS we will always make you scrutinize your own personal real estate goals and will give you direct, honest and realistic information.  Just because the highest condo sale of $34 Million was just recorded in Miami Beach may not at all be relevant to your own objectives.

Architecture and Miami Beach Real Estate – How do These 2 Work Together

March 23, 2013

Time to bring an old article back to life from April 2007 – The concept of combining my architecture expertise with our Miami Real Estate Business keeps separating us from our competition.  Make no mistake though, architecture consulting is exclusive  to our real estate clients…continue reading my thoughts from almost 6 years ago!

architectural rendering

I graduated with a bachelor’s degree in architecture from the University of Miami, and hence all the Hurricane stuff you see me with.  I worked with a couple of big firms both locally and abroad and then started my own architecture firm doing additions and remodelings in Miami Shores and Miami Beach as well as other neighboring cities.  I did several projects, including the design of the Brockway Memorial Library addition in Miami Shores, and always helped friends visualize the potential of homes before buying them.

That’s when the vision of our business was born.  If so many of our own friends had benefited from my architectural consulting services prior to purchasing a home, wouldn’t it be ideal if I had a Real Estate License and offer those same services to potential customers? (the answer was a really LOUD YES!!!)

As a Miami Beach home buyer, when working with me, you will gain from having free architectural consulting at your fingertips.  Finding the “perfect home” is no easy task, properties will need some work and some changes most of the time.  Whether it is to open a kitchen out to a family room or to “formalize” a dining room, or to add a master suite to a property,   as our customer you will benefit from me sitting down with you to help identify your needs. I usually sketch out numerous schematics and will come up with a conceptual plan.  Having worked in the field and built additions, I will be able to estimate the cost of construction and will then lead you to an architect or design professional that can finalize the plans.

I can also assist you, as our real estate buyers, with other design consulting aspects like materials and color selection as well as furniture arrangement.  My enthusiasm is endless when it comes to design.

As a Miami Beach home seller, the advantages are endless.  I will ask that you acqarchitectural pen and ink sketchuire floor plans of your properties (most cities will have floor plans and are easy to order); I will have those floor plans ready to show any prospective buyers.  I will also help you identify any weaknesses in the current design of your property and will accentuate all the positive features.

I will help you stage your property with a very detailed list of suggestions that is customized to you and your particular property.  I will even help you hire the right construction professionals to prepare your home for showings (like floor refinishers, carpenters, painters, etc.).  A lot of our customers are absentee owners and we take care of the coordination of these jobs for them.

Having a passion for architecture and for helping people visualize the potential of a property is what makes my job so much fun.  Our customers will tell you how I light up when I see a good space (they will also tell you what my reaction is when I visit “butchered homes”), how I will go out of my way to make their dream a reality within their financial parameters.  I am an architect by profession, but a Realtor by trade, the combination of these is what we offer to our customers in unmatched service.

One Ocean South Beach

February 28, 2013

one ocean South Beach by miamism.com

 

One Ocean is the latest and greatest development in the South of Fifth area of South Beach that everyone is talking about.  It’s another Jorge Perez/Related Group development but this time no stone has been left unturned.  What I mean by this is that this project has all the bells and whistles – from amazing architecture, interior design, amenities and landscape architecture.  What it’s missing it’s the fact that it is not an ocean front property, but close enough.  It’s being compared to Ocean House because of its boutique quality, scale and exclusivity ….but you do have to cross the street to get to the beach.

The architect for One Ocean is award-winning Enrique Norten, from Mexico City, and his firm, TEN Arquitectos.  The landscape architect is Enzo Enea, one of the leading landscape architectural firms in Switzerland and widely known for challenging private projects.  Interior Design by Yabu Pushelberg known for high-end hospitality work.  And lastly, featured artists like Cuban born Jose Bedia, Michele Oka Doner, and Eugenio & Lautaro Cuttica from Buenos Aires.

The concept of One Ocean is “The Opportunity to own a masterpiece unlike any other.”

one ocean south beach by miamism.com

 

There are only 50 residences at One Ocean, with ocean views and private beach club amongst other things.  46 of these will be exclusive residences and 4 ocean villas featuring unique architectural design by Enrique Norten.  There is very little inventory left including:

  • PH 702 with east and west views – 3 bedrooms / 3.5 bathrooms with 2125 sf of living space + 255 sf terrace + 1,724 sf roof top with spa priced at $5,106,000.
  • 307 – 5 bedrooms / 5.5 bathrooms – east, north and west views with 3,206 sf of living space + 624 sf wrap around terrace priced at $4.95 Million.
  • 308 – 5 bedrooms / 5.5 bathrooms – east, north and west views with 3,206 sf of living space + 624 sf wrap around terrace priced at $5.062 Million.
  • 207 – 4 bedrooms plus den / 4.5 bathrooms – east, south and west views with 3120 sf of living space + 2,532 sf wrap around terrace priced at $4.95 Million.
  • 208 – 4 bedrooms plus den / 4.5 bathrooms – east, north and west views with 2,826 sf of living space + 1,792 sf wrap around terrace priced at $4,648,900.

The Payment structure is as follows:

  • 20% at contract
  • 20% at ground breaking (Fall 2013)
  • 10% at top off (Fall 2014)
  • 50% at closing (End of 2015)

One Ocean South Beach by Miamism.com

Ocean One Amenities

  • Forty-six exclusive residences and four ocean villas featuring unique architectural design by Enrique Norte
  • Professionally curated contemporary art collection throughout common areas
  • Striking ocean views of the Atlantic Ocean, Biscayne Bay, Fisher Island, South Pointe Park and city skyline
  • Park and outdoor areas with ornamental features by artist Jose Bedia
  • Zen garden, park & pool deck designed by Enzo Enea
  • Infinity Edge pool
  • Covered outside private clubhouse complete with food service
  • Selected residences and penthouses with private rooftop terraces, spas and two-car garages
  • State of the art fitness facilities with views of courtyard garden
  • Integrated high-speed Internet throughout common areas
  • Floor-to-ceiling energy-efficient windows
  • Individual unit access high-speed elevators
  • Grand porte-cochere entrance
  • Assigned covered parking with 24-hour valet
  • Butler

Ocean One Services

  • 24 hours a day, 7 days a week, worldwide private and elite concierge service accessible directly from resident’s iPads ®
  • Exclusive preferential access to dining, cultural events and travel
  • Poolside dining from exclusive neighborhood restaurants
  • Dedicated beach club with resort and beachside entrances, custom lounge daybeds, cabanas, umbrellas and elite amenities including oceanfront dining
  • Fitness concierge managing spa appointments and treatments, personal training sessions and classes
  • Chauffeured car service
  • Personal shopping and delivery
  • Salon & barber
  • Pre-approved housekeeping staff
  • Laundry and dry cleaning
  • Tailoring
  • VIP Access to hotel services, area restaurants and club privileges
  • Catering services and event planning for functions
  • Supervised childcare
  • Personal security
  • Pet walking and sitting
  • Business center
  • Messenger service
  • Technical support services
  • Car wash and detail services

Remember our team is ready to help you with your One Ocean Condo Purchase or sale and of course surrounding condos as well. Call us for details, brochure and/or floor plans 305.758.2323 or oneocean@miamism.com

Mondrian South Beach – Not just a Hotel

February 27, 2013

Did you even know that The Mondrian has condos for sale?  The Morgans Hotel Group, responsible for The Delano and The Shoreclub in South Beach, decided there was a need for short term rentals as well as a Condo-Hotel in South Beach, and instead of referring out the business, they would keep it in-house.  Of course their reputable concierge service and celebrated design would remain, that’s how the Mondrian concept materialized.  The Mondrian has a marina, meeting rooms and sits on the bay side in South Beach at 1100 West Ave with spectacular panoramic views of the Miami Beach islands, Monument Island, The Port of Miami and The Miami skyline.  The interiors were done by Marcel Wanders, known for his theatrical use of space.  Some people may find the place to be “OUT THERE”, meaning it’s a bit weird and overdone, but the truth is that The Mondrian takes you away to a fantasy world that fits South Beach so well and becomes the perfect getaway.

Here’s the marketing pitch for The Mondrian Condo Hotel:

FULL CONDOMINIUM OWNERSHIP WITH HOTEL SERVICES BUILT AROUND YOUR LIFESTYLE.  Owners enjoy all the privileges of this exclusive Hotel, 5 Star Asia de Cuba dining, Sunset Bar, 2 swimming pools, fitness center, Agua Spa, 24-hour room service, maid service, marina and full access to Delano Hotel Beach Club.  Interiors feature glamorous living areas, spacious bedrooms, modern bathrooms, fully furnished and designed by Dutch designer Marcel Wanders.  Enjoy breathtaking views of Biscayne Bay from your private balcony.

Once you enter and go through the Sleeping-Beauty-castle-type interiors, you’ll find the suites and apartments to be whimsical and unconventional with amazing views and backdrop of Biscayne Bay and South Beach.  We visited one of the Tower Suites and took some photos.

This Tower Suite is offered at $2,950,000 with a $1,759.45/month maintenance fee which includes all amenities, cable, water, electric, WiFi).

Features include:

  • Unique residence – one of only 4 total units
  • 2 bedrooms / 2.5 bathrooms
  • 1,680 square feet of living space
  • 791 square foot terrace/balcony
  • Wine Cooler, Washer/Dryer, Flat screen TVs in every room
  • Access to exclusive Tower Suite Lounge
  • Complimentary valet

We also visited a 2-bedroom (1,190 square feet with bay views at $900,000);  a 1-bedroom (740 square feet with city views in the $500k’s); and studio unit (534 square feet with bay views starting in the high $200k’s) to get a feel of size and views.  The interiors are all very similar and very Marcel Wanders, and the kitchens are small (as can be expected from a condo-hotel).

The consensus is that the prices are still high.  The project was opened during Art Basel in December of 2006 and was 80% sold, but like the rest of the projects in Miami, only closed the cash buyers and now have 140 units available.  Pricing has gone from the $1000′s per square foot to the $600′s – studio apartments start in the $290,000 range and 2-bedroom apartments in the $900,000 range.  The Hotel program is optional and buyers can of rent their residences on their own.   The sales team did disclose that they are renting at an average of $4.70 per square foot and their studios rent for approximately $2,500/month for a six month rental period.  They also claim that the rental demand is higher than the supply.  (This is enough to merit the high prices, knowing you will have your unit rented and can benefit from rental income).

There’s currently financing available by the developer, which is not easy with condo hotels.  They have a 5 year balloon for Domestic clients as well as foreign nationals.  They require 40% down for foreign nationals with a 7.5% APR and 3 credit reference letters and 80% down for domestic clients with APR from 7% to 8.75% (1.5 points and 30 day closings – Full Doc but no dept-to-income ratios which is good for multiple property owners).  I shouldn’t even comment on price gouging anymore because it’s sometimes so difficult to obtain financing and the risk is so high for lenders…..that they can ask whatever they want.

An interesting and exclusive amenity is the future use of Monument Island for a private beach club.  The Mondrian was instrumental in the restoration of the island and will now have rights to its use by it’s residents and hotel clients.  Residents also get 10% off spa treatments, they have 1 parking space with complimentary valet parking and a private entrance if you want to avoid the busy lobby.  All in all, it’s an interesting project with a creative solution to the short term rental need in South Beach… AND …”everything is very negotiable” according to the sales staff <<< ya think?

Remember our team is ready to help you with your Mondrian South Beach Condo Purchase or sale and of course surrounding condos as well. Call us for details 305.758.2323 or mondrian@miamism.com

*original article april 24th, 2010

7 things to consider when buying a Miami Beach Waterfront Home

February 20, 2013

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.

Miami Beach Waterfront Home

Miami Beach Waterfront homeCondition 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.

Miami Beach Luxury HomeType of waterfront property

    – If you look at an aerial view of Miami and 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 and 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.

Miami Beach waterfront real estateBoat 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.

Miami Beach Real EstateDavits 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.

Miami Beach Luxury HomeProtection 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 doesn’t mean that you should not purchase a bayfront home, it means you should consider location when purchasing.

Miami Beach Luxury Real EstateLocation 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.

Miami Beach Luxury HomeInsurance Costs

      – just keep in mind that property insurance costs will be higher for waterfront homes, especially open bay properties.

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