Top 3 Most Expensive Miami Beach Condo Sales – January 2010

There were 117 Miami Beach condos sold in January 2010 with the lowest sale being a pool cabana at Casablanca Condo for $16,000 and the next highest a 1 bedroom condo at Normandy Place Condo (which was a bank owned property).  Now to the good stuff.

January’s Most Expensive Miami Beach Condo Sale

The Continuum on South Beach:  50 S Pointe Drive, #TWN6 – Miami Beach, FL 33139

Listed for $4,353,000 and sold for $3,482,400 on 1/29/2010

The Continuum needs no introduction – it’s 2 towers are the only 2 oceanfront uber luxurious high-rises in the area knows as South of Fifth in South Beach.  This unit was listed on January 13th, 2010 and was under contract by the 17th!  WOW! (but there are not even interior photos of the unit on the MLS, so it was obviously sold before it listed).  Here’s the MLS description:

Enjoy 12 Acres of Oceanfront Living at Continuum II! Spacious, large balcony with magnificent views!  Italian kitchen with stainless steel Miele appliances, Subzero refrigerator, granite countertops and marble floors.  Luxury amenities include 24 hr security and valet parking, full-time concierge service, 2 large lagoonpools with pool and beach-side services from patio restaurant.  Three pro-clay tennis courts, 23,000 sf Sporting Club and spa with infinity lap pool!

Features:

• 2,901 square feet of living space
• built in 2008
• 4 bedrooms / 4.5 bathrooms
• 2-car garage
• Direct Ocean Views
• Beachfront condo
• Facing South
• Balcony
• Decorator ready
• Maintenace Fee – (not disclosed)

January’s Second Most Expensive Miami Beach Condo Sale

Il Villaggio:  1455 Ocean Drive #1102 – Miami Beach, FL 33139

Listed for $2,195,000 and sold for $1,850,000 on 1/05/2010

This unit was purchased for $2,700,000 in June 2007 and was on and off the market starting on February 2008 with an asking price of $3,590,000.  The sellers lost $850,000 in this real estate transaction, but you can only speculate that they enjoyed Il Villaggio’s views and amenities in the 2.5 years they owned it.

The ultimate “south view” residence at South Beach’s very own Il Villaggio.  This sleek, sexy floor plan provides wrap-a-round views of the ocean, Lummus Park and the seductive South Beach coastline.  Three expansive terraces, dramatic foyer entrance, custom bamboo flooring, gourmet kitchen, marble baths, & a luxurious master suite.  Luxury building offers the finest, personalized services of any building in South Beach, oceanside promenade and community room.  Live the life you’ve always imagined…

Features:

• 1,700 square feet of living space
• built in 1998
• 2 bedrooms / 2.5 bathrooms
• 1 parking space
• Beachfront condo
• Facing South
• Balcony
• Maintenance Fee – $1835/month

January’s Third Most Expensive Miami Beach Condo Sale

Canyon Ranch – 6799 Collins Ave #505 – Miami Beach, FL 33141

Listed for $1,900,000 and sold for $1,550,000 on 1/29/2010

Canyon Ranch is Miami Beach’s latest craze bringing life to Mid-Beach with luxury and style.  This particular residence was listed on March 2009 for $1.9 Million and had no price adjustments.

One of a kind, amazing beach house facing East w/ direct ocean views.  This is a must see! 2 Bed + den/media room (could be converted to 3rd bedroom)+ a private rooftop terrace, directly on the ocean.  Spacious layout w/10 ft ceilings, stunning baths and custom kitchen.  Canyon Ranch offers every luxurious amenity including all spa services and on-site restaurants.

Features:

• 1,965 square feet of living space
• built in 2008
• 2 bedrooms / 3 bathrooms
• 1 parking space
• Beachfront condo
• Decorator ready
• Facing East
• Balcony
• Maintenance Fee – $2500/month

The Temple House – South Beach Luxury Home

I’ve written about The Temple House before and have given you all the relevant real estate information you need about the house.  From the typical description:

The Temple House is South Beach’s largest private residence.  Steps to the beach, Lincoln Road and Lummus Park.  Over 16,000 SQ FT as per previous tax records.  This former synagogue was transformed into an ultra contemporary residential compound over a two year period.  Living quarters abound on both levels, 6,000+ SQ FT grand LOFT with approx. 30 foot high ceilings, 2.500+ SQ FT outdoor terrace, two car garage + parking for 3 additional vehicles.  Newly finished rooftop swimming pool!

to my own take on the house:

The Temple House in South Beach is one of those “wow” houses you don’t see every day.  The largest single family home in South Beach with over 16,000 square feet of living space.  This house is amazing all on its own but when you hear its history, then you realize it is so much more than a big house.  Originally designed in 1933 by none other than famed architect L. Murray Dixon, converted into a temple in the 40’s, expanded in the 60’s by renowned architect Lester Avery and then converted back into a home in 2003 by the current owner, Dan Davidson.  This home defines South Beach Living with no expense spared – 30 foot ceilings in the 6,600 square foot great room, theater room, 1,200 square foot kitchen, state of the art lighting and audio system, new terrace pool with iridescent mosaics and waterfalls…..imposing and majestic.

But as Bea Garcia puts it in her housingwatch.com article for AOL real estate, Temple To High-End Zen For Sale in Miami,

For a house with a self-professed “wow” factor-its website address is www.ownthewow.com-it seems that no amount of promotion is too much.

The Temple House, in the heart of Miami Beach, has a Facebook fan page, a Twitter account, its own blog with postings of all the celebs-Jennifer Lopez, Ricky Martin, BowWow and Playboy model Vicky Vodar, to name a few- who have crossed its threshold, and a stream of photos of its Flickr page.

So check out OwnTheWow.com  to see the latest documented celeb visit to The Temple House:

The Temple House is not just a property for sale – it’s a house with a story, a story that cannot be told in just a few words.  This blog will narrate an uber rich story, it will serve as a chronicle of The Temple House’s past present and future.

The Temple House has housed top celebrities in all kinds of different capacities, it has been published and re-published, has served as backdrop in popular music videos, movie scenes, megastar parties, weddings, charitable events…..and so much more

The Temple House

“if WOW is what you’re looking for”

The Shore Club Hotel in trouble

Please say it isn’t so! The Shore Club is one of my fave getaways when Rick and I want to go out and venture to South Beach.  The chic atmosphere and people watching is beyond this world and for our friends that stay at the Shore Club Hotel when they are in town, the concierge services are top notch!

Of course we should have seen it coming when we went to review a mojito and found them to be less than desirable… (so much so that I couldn’t do the review and @mrmiamism took over!)

Mojito Review – The Shore Club Hotel – South Beach

According to Deidre Woollard from Luxist.com – The Shore Club Goes Delinquent On Its Mortgage:

Could we be seeing another hotel in trouble? The WSJ’s Developments blog says that The Shore Club in Miami Beach has gone delinquent on its $111.5 million securitized mortgage. The mortgage has a special server Cerberus Capital Management LP’s LNR Partners Inc. which has reported that father and son developers Philip and Michael Pilevsky had withdrawn a threat to close the hotel after the mortgage server agreed to fund basic expenses including payroll from the mortgage’s reserves. According to credit-research company Trepp LLC, the Shore Club’s mortgage is 30 days delinquent this month. The hotel also owes another $11.5 million in separate debt besides the mortgage.

The Morgans Hotel Group has been known to have their game on – so I hope to keep dining at Nobu and hope the pretty people don’t get displaced.

Blog Action Day at Prime Miami Beach

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

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.

South Beach Luxury Real Estate – The Temple House

The Temple House in South Beach is one of those “wow” houses you don’t see every day.  The largest single family home in South Beach with over 16,000 square feet of living space.  This house is amazing all on its own but when you hear its history, then you realize it is so much more than a big house.  Originally designed in 1933 by none other than famed architect L. Murray Dixon, converted into a temple in the 40’s, expanded in the 60’s by renowned architect Lester Avery and then converted back into a home in 2003 by the current owner, Dan Davidson.  This home defines South Beach Living with no expense spared – 30 foot ceilings in the 6,600 square foot great room, theater room, 1,200 square foot kitchen, state of the art lighting and audio system, new terrace pool with iridescent mosaics and waterfalls…..imposing and majestic.

1415 Euclid Avenue – Miami Beach, FL 33139

Listed for $7,500,000

This impressive home is short of being a palace and located in the Art Deco District within walking distance to shopping, restaurants and beaches…right in the middle of the Chic South Beach Action.  The MLS description reads as follows:

The Temple House> is South Beach’s largest private residence.  Steps to the beach, Lincoln Road and Lummus Park.  Over 16,000 SQ FT as per previous tax records.  This former synagogue was transformed into an ultra contemporary residential compound over a two year period.  Living quarters abound on both levels, 6,000+ SQ FT grand LOFT with approx. 30 foot high ceilings, 2.500+ SQ FT outdoor terrace, two car garage + parking for 3 additional vehicles.  Newly finished rooftop swimming pool!

You may recognize The Temple House from music videos, movies and television shows – it is a favorite amongst celebrities and popular shows because of its extraordinary features.  The owner’s charitable organization, The Miami Cultural Arts Foundation is also responsible for hosting fundraisers for local causes like the recent REBarCamp Miami that I helped organize (an educational event for the real estate industry with proceeds going to the foundation).

Here’s a video done for the event that features the home at its best:

Property Features:

• 16,350 square foot home
• 6,600 square foot great room with 30′ vaulted ceilings with polished concrete floors
• Newly finished rooftop swimming pool
• 5 bedrooms / 6 bathroom plus theater room
• 2,700 square foot loft room with entertaining “pre-kitchen” for catering/entertaining events
• 1,200 square foot dine-in kitchen
• 1,100 square foot mezzanine overlooking great room with Brazilian Cherry wood floors
• central air conditioning (new 50 tons of a/c)
• Impact resistant windows and doors
• state of the art lighting, audio, telephone and security systems
• 2 laundry facilities (one on each floor)

**property information courtesy of South East Florida Multiple Listing Service and Majestic Properties **

Miami Beach Luxury Real Estate Pick – Apogee South Beach

Apogee is one of the most prestigious Miami Beach Condos and it has every right to boast from location, to views to impeccable design. Another Jorge Perez (The Relate Group) project, designed by Sieger-Suarez and interiors by Yabu Pushelberg. I personally have been waiting for a simple building like this to appear in The South Beach Landscape and it’s finally here. It’s elegant, austere and makes a powerful impact with its simplicity.

Apogee #1104 – 800 S Pointe Drive – Miami Beach

Listed for $6,800,000

Apogee! Miami Beach’s finest most exclusive location “South of Fifth”. Best line in building! Watch the cruise ships sail while relaxing on your 2,400 square ft. 11 foot deep terrace. 67 exclusive private residences. Open kitchen, gas stove with huge island, summer kitchen on balcony, midnight kitchen in master bedroom. Private over-sized 2-car garage. Incredible lush pool deck looking over the bay, Fisher Island, Downtown Miami and Miami Beach.

Features include:

• 4,154 square feet of living space
• 4 bedrooms / 5 bathrooms
• 2-parking spaces
• full-amenity building
• Miami Beach Luxury Condo
• South Beach Location
• Panoramic Views of Miami Beach, Fisher Island and Downtown Miami
• Maintenance fees $3944 per month
• Summer Kitchen
• 11 ft. deep terraces
• Designer ready

About Apogee

• 67 private residences
• 2.88 acre site
• 4 units per floor each with private elevator
• 10 foot ceilings
• 11 foot wide balconies
• State-of-the-art Spa and Fitness Room
• Infinity Edge lap pool in garden setting
• Lobbies and common areas by world famous interior designers Yabu Pushelberg
• Architecture by award winning architects Sieger-Suarez
• Party Pavilion

Residence

• Summer kitchen with outdoor cooking
• Midnight kitchen in Master Suite with bar sink and refrigerator
• Gas fireplace in Master Suite or Living Room
• Private enclosed double car garage
• AMX Interactive smart panel with access to valet, spa and other services
• Lutron wireless system with custom lighting schemes

Apogee’s signature Lifestyle Technology has elevated smart living to an art form

• State-of-the-art kitchen and bathroom technology
• Processor and wiring for a complete home integration system
• Lutron wireless lighting control for custom lighting schemes
• Prewiring for automated drapes and blinds
• keyless fingerprint door entry

**property information courtesy of South East Florida Multiple Listing Service and Cervera Real Estate, Inc. **

Miami Beach Luxury Condos – The Continuum on South Beach

This Miami Beach Luxury Condo pick is located in SoFi (South of Fifth) in SoBe (South Beach) – It’s so Miami to abbreviate everything from places, to architecture to food. The Continuum has to be the best located condo in South Florida (that’s my opinion of course) – located at the tip of South Beach right on the ocean with unbelievable amenities. Designed by architect Fullerton Diaz Architects, Inc, The Continuum is “the” Miami Beach Luxury Condo in a gorgeous location on the ocean with beach, amazing views and top notch amenities:

• 1,000 feet of sandy beaches
• full-service beach club with beach furniture and cabanas
• expansive free form lagoon swimming pool and spa
• sundeck with pool furniture and umbrellas
• pool pavilion
• landscaping and site design by renowned landscape architects Bradshaw, Gill and Associates
• 3 har-tru clay tennis courts
• 20,000 sq. ft. of state of the art Spa and Exercising facility including
  • fully equipped world class fitness center
  • complete selection of classes to choose from and personal training
  • men’s and women’s lounges complete with treatment rooms, sauna, steam room, whirlpool, cold plunge, relaxation lounge and shower facilities
  • spa treatments
  • roof top infinity lap pool
  • sundeck

The Continnum on South Beach Condo – 100 S. Pointe Drive – residence 1606

Listed for $7,499,000

This is what the MLS description reads:

Magnificent 4 bedroom plus den and 4.5 bathrooms with floor to ceiling windows and 800 sq. ft. of wrap around balcony allow for unobstructed panoramic views of the Atlantic Ocean, Fisher Island, Cruise Ship Alley and The Miami Skyline from every major room. Kitchen features include Italian cabinets, granite counters, Miele appliances, and Sub-zero refrigerator.

Features include:

• 4,378 sq. ft. of living space
• 4 bedrooms / 4.5 bathrooms
• 2 parking spaces
• wrap-around balcony
• Miele and Sub-zero appliances
• valet
• security
• spa
• beach
• monthly maintenance $3730

I can go on and on about The Continuum, but I would never do it justice. To climb to this unit and look at the view is enough to convince anyone, then add the amenities and you are transported to a different world. The Continuum is by far one of my all-time favorite Miami Beach Luxury Condos.

**property information courtesy of South East Florida Multiple Listing Service and South Pointe Drive Realty **

South Beach Condo Real Estate Market Report – SoFi Luxury Condos – first half of 2009

This Miami Beach Real Estate Market Report shows and interesting first half of 2009 for South Beach Luxury condos in the SoFi area (South of Fifth). South Beach is always defying the odds but numbers are numbers and when you compare average sales in 2008 with the first half of this year, prices have gone down…..nothing considerable, but they have.

Make sure you take a look at the 2008 South Beach Condo Real Estate Market Report – (SoFi Luxury Condos) that I completed in January to be able to see the disparities.

• The average listing price in 2008 was $1,238,498 where in 2009 it’s $1,099,077

• The average sale price in 2008 was $1,110,344 whereas it’s $973,574 in 2009 (that’s over $130,000 difference)

• The average price per square foot decreased from $651.67 to $607.12

Because I sound like a broken record at times and tell you that real estate is “local” and it doesn’t do you any good to use general numbers.  I am also comparing averages in 5 different South Beach Condos that I scrutinized back in January.

• Apogee South Beach – The average price per square foot in 2008 was $1,359 and although only one sale shows on the MLS in 2009 – it’s for $1330 per square foot (not much of a drop)

• Continuum South – went from $1,072 per square foot to $1,040 (also pretty strong)

• Continuum North – from $845 to $824 per square foot (not bad)

• Icon South Beach – from $725 to $716 per square foot

• Yacht Club at Portofino – stays exactly the same (big surprise for this one, since it’s the lease desirable of all the buildings in my opinion)

• Murano Grande – goes from $626 to $604 per square foot (no remarkable change)

I am beyond curious to see what the second half of 2009 brings us – now that we are seeing a decrease in inventory and less distress sales.  I just wish the calls would stop for people wanting a 3 bedroom / 2 bathroom condo in a South Beach Luxury Condo for $250,000 ….PEOPLE!!! That’s only in fantasy land!

Miami Beach Luxury Real Estate – Capri, South Beach

When in comes to Miami Beach Luxury Condos, what hits me first is the density of the buildings. High rises have a really high density and that means more traffic and more neighbors. It’s very personal, but I like the lower density buildings better and that’s why I like Surfside Beachfront condos so much with a maximum of 12 stories stipulated by zoning ordinances.

The Capri South Beach really impressed me because of its scale and density – it’s comprised of 3 different buildings – a 3-story historic mid-century modern structure and 2 modernist structures (one is 14 stories and the other is 7). All of them on the water with amazing bay views and sharing common areas and amenities:

• signature restaurant and room service
• 24-hour international concierge service
• 24-hour valet service
• 24-hour on-site security service
• housekeeping services
• laundry and dry cleaning services
• on-site private marina and boat slips
• 500 feet of bay front boardwalk
• fitness center with personal trainers
• spa-suite with steam, sauna, massage and meditation room
• swim-spa pool and oversized Jacuzzi overlooking the bay
• full time pool attendant.

Designed by Kobi Karp Architecture and Interior Design and Rene Gonzalez Architect - The Capri’s attention to detail and distribution of space is fabulous with bay views framed from every room, Pent Houses have open roof-top terraces accessed by spiral staircases with views of South Beach and complete with summer kitchens and Jacuzzis. Each residence designed with a contemporary luxury lifestyle in mind with European kitchen with Poggenpohl cabinetry, Miele, Wolf and Subzero appliances, white Thassos and Travertine marble bathrooms, over-sized soaking tub, glass-enclosed double rain shower. Floors are finished with 24″X24″ travertine. Bedrooms have built-in European closet systems.

Set on nearly two acres of prime waterfront real estate, Capri South Beach encompasses two modernist structures and one mid century historic building housing sixty-nine residences, each designed down to the smallest detail. Royal palms tower over manicured landscapes, offering you a private oasis in which to relax and enjoy the splendor of Miami Beach. Living in this tranquil sanctuary means having the best of both worlds – the drama of living in a global epicenter, with a private world of exclusive luxury in which to escape.

The westward orientation of the residences at Capri South Beach offer unobstructed views of Downtown Miami and Biscayne Bay. One could hardly ask for a better vision of the Magic City.

As much as I was impressed with the scale, finishes and distribution of this project, I still think it’s overpriced. The maintenance fees will be approximately .95 cents per square foot and the sales representative said on repeated occasions that the prices were “negotiable” (with a hush tone) – mmmm … What isn’t negotiable in today’s Miami Beach Real Estate Market? We were also told that a 3 bedroom unit recently sold with a 20% discount.

• 2/2 residences start at $1,155,000 with 1,128 square feet
• 3/3 residences start at $1,915,000 with 1,842 square feet
• 1/1.5 residences starting at $525,000 with 783 square feet
• North Tower – Marina Piccola townhouse for $1,545,000
• South Tower – Ana Capri third and 4th floor units starting at $2,275,000

There are also boat slips available to accommodate up to 78 foot vessels providing a safe haven for the pickiest of boaters.

South Beach’s international reputation as a center of art, entertainment and natural beauty is not small wonder, and residing at Capri South Beach puts it all at your fingertips. Fine boutique shops and restaurants along Lincoln Road are within walking distance. The Art Deco Historic District, Ocean Drive, and world-renowned beaches are all minutes away, with the Miami International Airport a mere 15-minute drive. Across the bay, the spectacular Performing Arts Center in Downtown Miami offers opera, ballet and other performance arts, while a plethora of nearby art galleries, design boutiques and restaurants are helping to define the burgeoning Biscayne Corridor as Miami’s answer to Soho. Whether you want a private haven away from the world or a night out on the town, you can have it all at Capri South Beach.

Next Page »