Top 3 Most Expensive Miami Beach Condo Sales – June 2010

There were 195 Miami Beach condos sold in the month of June of 2010. The disparity in pricing is surreal to say the least, and ranged from $30,000 for a 1 bedroom / 1 bathroom, 667 sq.ft. foreclosure at Marseille Condo in Normandy Island to $15 Million for a penthouse villa at The Setai.  21 of those sales were condos over $1 Million and only 2 of the 21 were over $5 Million.  What’s amazing about Miami Beach condo sales today is that most are cash deals.  I’ve talked to a few colleagues who have admitted to not doing a financed deal in over 2 years!  Personally, I don’t blame them, some of the bank underwriting requirements nowadays can be ridiculous, to say the least.  In the month of June, The Setai, Apogee and The Caribbean made the list of The 3 most expensive Miami Beach condos sold.

June’s Most Expensive Miami Beach Condo Sale

The Setai Resort & Residences: 101 20th Street – Miami Beach, FL 33139

Listed for $19,999,999 and sold for $15,000,000 on 06/04/2010

The Setai is the epitome of luxury, service and prized oceanfront property in South Beach.  It’s an amazing oceanfront resort hotel adjoined by a 40-story residential tower with tropical gardens, pools and sundecks that lead you to the gorgeous beaches of the Atlantic Ocean.  Now that I’ve set the tone, imagine the whole 40th floor of the Setai with over 6,000 square feet of living space, over 4,000 square feet of terraces with private pool, garden and outside dining area.  Completely furnished and with the most amazing views.

PH Villa B had been on and off the market for a while and was purchased in 2004 for $9.5 Million before finally selling last month.  The listing description read:

Palace in the sky! The ‘Imperial Suite’ is the only fully furnished penthouse in the Setai Hotel Rental Program. One-of-a-kind terrace with pool, garden, & outdoor dining areas. This PH encompasses the entire 40th floor (6,000sqft interior/4,000sqft terrace) offering stunning, panoramic ocean, intracoastal, and city views. Price includes all art, electronics and furnishings by renowned architectural design team. Rack rate offered for this unit is $30,000/night.

Features:

• 6,208 square feet of living space
• built in 2005
• over 4,000 of terraces and outside living spaces
• private pool
• designer furnished
• 4 bedrooms / 4 bathrooms / 1 half-bath
• 4 parking spaces
• Hardwood floors
• Maintenance = $13,053/month

June’s Second Most Expensive Miami Beach Condo Sale

Apogee South Beach:  800 S Pointe Drive, #604 – Miami Beach, FL 33139

Listed for $6,250,000 and sold for $5,800,000 on 5/21/2010

Apogee is all about modern Luxury and location – the South of Fifth address with the most accolades.  And proof is in the pudding when we keep seeing record breaking sales month after month.  Unit 604 is equivalent to last months 904 sale of $6.55 Million, but at a much better value – also considering 904 was designer ready and this was was not.  The difference in price per square foot is $181, which many could argue is worth the 3 higher floors (but I doubt it).  The property was listed in January 2009 with a starting price of $6.25 Million.  The MLS screams:

STAR ISLAND IN THE SKY, SOUTH OF FIFTH! ULTIMATE LIFESTYLE, PERSONAL SERVICE & HOTTEST DINING SPOTS. READY TO MOVE IN WITH 36 BY 36 LIMESTONE FLOORS THROUGHOUT, 4 BEDROOMS, MEDIA ROOM, & 2450 SQ. FT. WITH 11 FT. WIDE WRAPAROUND BALCONY W/SUMMER KITCHEN. AMAZING GOURMET KITCHEN W/GAS COOK TOP, MIDNIGHT KITCHEN IN MASTER W/DOUBLE STEAM SHOWER. 2 CAR A/C GARAGE. 5 STAR LIVING FOR THE CLIENT WHO WANTS THE BEST! UNIT SQ.FT. AS PER DEVELOPER

Features:

• 4,154 square feet of living space
• 2-car a/c garage
• 4 bedrooms / 3 bathrooms / 1 half bathroom
• summer kitchen
• limestone floors
• 2,450 sq.ft. – wraparound terrace/balcony
• Midnight kitchen in Master bedroom
• Maintenance = $5025/month

June’s Third Most Expensive Miami Beach Condo Sale

The Caribbean Condo: 3737 Collins Ave, #PH-1 – Miami Beach, FL 33140

Listed for $3,900,000 and sold for $3,500,000 on 6/15/2010

The Caribbean Condo is a luxury ocean front high-rise between South Beach and Millionaire’s Row.  It’s located in a historic district and the original Caribbean Hotel was designed by famed architect L. Murray Dixon – the original hotel was restored and a new residence tower constructed right next to it to compliment the newly restored ambiance.  What’s happening in the location of The Caribbean is incredible – including the recently announced site for the New Edition Hotel by Marriott – which only reinforces how much money is being pumped into this area of Miami Beach.

So here we have a penthouse unit with Eastern as well as Western views where you get the best of both worlds – ocean views in the day and city lights at night.  It was originally listed for $3.9 Million in December of 2009.  MLS reads:

ABSOLUTELY AMAZING! THIS STUNNING PENTHOUSE IS THE NICEST AVAILABLE IN MIAMI BEACH! 3900+ SQ FT, 4/4.5, SPECTACULAR PRIVATE MASTER SUITE, DIRECT EAST AND WEST VIEWS, SUMMER KITCHEN, AND ENDLESS VIEWS OF MIAMI BEACH! ONE OF A KIND – A MUST SEE!

Features:

• 3,900 square feet of living space
• 1,625 sq. ft. of balcony/terrace
• built in 2009
• 1 parking space
• designer ready
• 4 bedrooms / 4 bathrooms / 1 half-bathroom
• Maintenance = $2,418 / month

**all information obtained from the SouthEast Florida Multiple Listing Service**

Top 3 Most Expensive Miami Beach Condo Sales – May 2010

There were 158 Miami Beach condos sold in the month of May 2010.  They ranged in price from $9 million to $36,000 for a studio foreclosure at Fashion Condo in South Beach.  Thirteen of the 158 sold over $1 million and only 2 of the 13 were over $5 million – which shows once again that the high end Luxury market is not moving as it used to.  Apogee in South Beach keeps showing great trends and gets the number 2 and 3 highest sales this month.  The regular suspects have sales in May including Continuum South Beach, Canyon Ranch, The Bath Club and Icon South Beach.

May’s Most Expensive Miami Beach Condo Sale

Fontainebleau II Condos:  4441 Collins Ave #PH-NO – Miami Beach, FL 33140

Listed for $9,800,000 and sold for $9,000,000 on 05/14/2010

The Fontainebleau needs no introduction with the most incredible amenities of Miami Beach, including restaurants, pools, nightclubs, Lapis Spa, Cabanas, beach side service ….the fun goes on and on.  It’s considered  luxury resort living at its best and many choose Fontainebleau as their second home.  This particular breath-taking penthouse was originally listed for $16,000,000 in January of 2009, reduced to $13.5 million in February of 09 and again to $9.8 million in May of 2010…which was the clincher for the sale.  Selling at $2,000 per square foot! The MLS description says it all:

Fabulous one-of-a-kind 4,500 sq. ft., 5 bed/,5 full plus 2 half baths. This spectacular Fontainebleau penthouse spans the entire half of the Tresor building from city to ocean. Breathtaking view, over 2,500 sq. ft. of terraces with private jacuzzi. Open floor plan with 15′ceilings. 24 hour full hotel services available .11 restaurants and nightclubs, 40,000 sq. ft. spa and private poolside cabanas. Penthouse is fully furnished and equipped with high def flat -screen TV’s, and ultra luxurious amenities.

Features:

• 4,500 square feet of living space
• 2,500 square feet of terraces/balconies
• 5 bedrooms / 5 bathrooms
• Built in 2005
• 2 parking spaces
• Direct Ocean Views
• Monthly Maintenance Fee = $6,000

May’s Second Most Expensive Miami Beach Condo Sale

Apogee South Beach:  800 S Pointe Drive, #904 – Miami Beach, FL 33139

Listed for $6,850,000 and sold for $6,550,000 on 5/21/2010

I can talk about Apogee all day long – ultra luxury, austere architecture, never pretentious, and VIEWS!! (although it does  not have a marina or a beach…but it’s obvious that many don’t care, because sales keep defeating the odds).   This particular residence was listed for $6.85 million in January of 2009 and shows it went pending in May of 09 and closed exactly one year later.  Could have been an option, delayed closing or just a mistake in the MLS.  Either way, closes at $1,577 per square foot which is above average closed sales this year at Apogee.  MLS reads:

APOGEE! Most exclusive bldg. in South Beach only 67 exclusive homes in the sky. Best line in the bldg. watch the Miami Skyline as sit comes to life at night, Fisher Island, City of Miami Beach plus watch the cruise ships sail while relaxing on your over-sized terrace. 4 Bedrooms, 3 baths and media room.Unit features gas stove, huge center island, summer kitchen on balcony, midnight kitchen in master, steam shower and jacuzzi tub plus upgraded lighting. Private Air conditioned  over-sized garage.

Features:

• 4,154 square feet of living space
• 4 bedrooms / 4.5 bathrooms
• built in 2008
• 2 parking spaces / private air conditioned garage
• Bayfront condo
• Summer Kitchen
• Monthly maintenance = $5,046

May’s Third Most Expensive Miami Beach Condo Sale

Apogee South Beach:  800 S Pointe Drive, #503 – Miami Beach, FL 33139

Listed for $3,395,000 and sold for $3,000,000 on 5/21/2010

Another Apogee Sale, but this one ready to move in rather than designer ready.  Listed originally for $3.85 million in January 2009, reduced to $3.69 million on February of 09 and again in September of 09 to $3.395 million.  This residence is the lowest sale per square foot at Apogee this year ($967/sq.ft.) – with average price being $1,292 per sq. ft.  The MLS description reads:

The APOGEE, a premium residence suitable for the most discriminating individuals is situated in the “SOFI” neighborhood on South Beach. With only 67 residences, this waterfront property offers resort like amenities, flow through floor plans, 11ft balconies, the highest end appliances, Biometric unit access, interactive AMX “Smart Lifestyle” technology and over-sized private air-conditioned garages. This unit has received a full build out and is turnkey ready to move in. Furniture is negotiable.

Features:

• 3,103 square feet
• 3 bedrooms / 3 bathrooms
• built in 2008
• 2 parking spaces / private air conditioned garage
• Bayfront condo
• Summer Kitchen
• Monthly maintenance = $3,810

**all information obtained from the SouthEast Florida Multiple Listing Service**

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Top 4 most expensive Miami Beach Homes sold in April 2010

There were 17 Miami Beach homes sold in the month of April of 2010, ranging from $3.5 Million to $200,000 for a Short Sale in Normandy Island.  Seven of the 17 sales were properties over a million dollars. Also 7 of the 17 were distressed sales (5 short sales and 2 bank owned foreclosures).  Maybe there’s something in the number 7 – is there a Numerologist in the house?

Next month should show higher numbers as well, since the months of May and June are historically the hottest in the Miami Beach real estate market.

There was a tie for first place with 2 sales at $3.5 million.

April’s Most Expensive Miami Beach Home Sale

2324 N Bay Rd – Miami Beach, FL 33140

Listed for $4,500,000 and sold for $3,500,000 on April 30th, 2010

This Miami Beach luxury home had been originally listed for $6,499,999 in May of 2006.  (For those that may not know Realtor number speak, 9’s mean the price is firm – ironic how it ended up selling for almost half the price they intended).  The home was reduced a few times and was finally placed under contract in March and closing at the end of April.  The home certainly has charm and a fabulous view, but was not updated at all.  The MLS description reads,

Architecturally stunning Mediterranean home perfectly situated on exclusive North Bay Road.  Gated entrance leads to newly landscaped courtyard with coral walkway.  Enter through a towering ornate mahogany front door which leads to grand staircase.  100fton the water with dock and picturesque views of Sunset Lake.  Don’t miss this North Bay Road gem.

Features:

• 5,400 square feet of living space
• 20,000 square foot lot (100′ X 200′)
• 100 feet of water frontage with dock
• built in 1925
• 5 bedrooms / 5 bathrooms
• 2-car garage
• pool

April’s Most Expensive Miami Beach Home Sale

5415 Pinetree Dr, Miami Beach, FL  33140

Listed for $3,900,000 and sold for $3,500,000 on April 12th, 2010

Now this is a home that makes you look twice with the typical revered Mediterranean Revival style, but built new in 2001 (according to the MLS).  Tied at first place with 2324 N Bay Road for the 2 highest Miami Beach Home sales in April 2010.  The original house was sold for $3.3 million in  March of 2004 and I’m guessing was totally gutted and remodeled.  It’s history showing a $5.5 Million listing in 2008 with several price reductions.  The MLS description reads:

Spectacular gated Mediterranean waterfront estate w/ocean access on prestigious Pinetree Dr.  2001 mini palace w/courtyard entry, domed & coffered ceilings, arched doorways plus a multitude of architectural details.  Gourmet kitchen, music rm,bar,cascading pool overlooking the intracoastal waterway, gazebo, summer kitchen & entertainment deck.  Enjoy ocean and intracoastal water views from lavish master bd  with adjoining  terrace & gym and 3 additional spacious bd on 2nd fl level.

Features:

• 6,800 square feet of living space
• 12,083 square foot lot (74′ X 163′)
• 74 feet of water frontage with dock
• 2-car garage
• built in 2001
• 6 bedrooms / 6.5 bathrooms
• pool

April’s Second Most Expensive Miami Beach Home Sale

5835 Pinetree Dr, Miami Beach, FL  33140

Listed for $2,999,000 and sold for $2,800,000 on April 14th, 2010

Another Pinetree treasure, this one totally renovated but facing Millionaire’s row across the canal.  If I had a penny for each time I heard, “why would I pay THAT much for that view?” – the answer is simply, “because you are paying for Pinetree Drive prestige”.  The owners of this home paid $3.3 million in 2003 and lost over 1/2 million dollars after renovations – but they got to enjoy a great address for 7 years.  MLS reads:

$628 SQ FT on the water!! What a deal!! Totally renovated, tremendous curb apeal, pool & dock.  Price is FIRM.  see broker remarks for showings.

Features:

• 4,775 square feet of living space
• 16,650 square foot lot (75′ X 222′ )
• 75 feet of water frontage with dock
• 5 bedrooms / 4.5 bathrooms
• 2-car garage
• pool
• built in 1935

April’s Third Most Expensive Miami Beach Home Sale

1545 Pennsylvania Ave, Miami Beach, FL 33139

Listed for $2,695,000 and sold for $2,000,000 on April 19th, 2010

Some would question the location of this home, sitting in the center of South Beach, but it is truly a masterpiece.  Why question? because the surroundings are mostly condos with a lot of transient traffic.  But take a look at the architectural details and the use of interior space, which makes this home truly special.  It was listed for $3.595 Million in May of 2008 and reduced a couple of times before going under contract. MLS reads:

This majestic 6 bedroom, 6 bath two-story Mediterranean style home sits in the heart of South Beach. This residence exemplifies a truly special home attributed to its unique architecture and landscaping that sets it apart from neighboring residences. The vaulted ceiling in the living room entices the sunrise each morning. A gated front yard and driveway in addition to an alarm system complete with video surveillance provide security for the home. Also available for rent for $10,000 per month.

Features:

• 3,690 square feet of living space
• 8,000 square foot lot
• built in 1935
• pool
• 6 bedrooms / 6 bathrooms
• alarm system and video surveillance

**all information obtained from the SouthEast Florida Multiple Listing Service**

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Top 3 Most Expensive Miami Beach Condos sold in April 2010

There were 157 Miami Beach Condos sold in the month of April 2010, ranging from $5.9 million to $39,952 for a 406 square foot efficiency at The Beverly Arms. Ironically, 1/2 a year of condo fees at The Apogee would buy that efficiency in North Beach – that’s what we love about Miami Beach. Sales are definitely increasing, some say it’s because of the tax credit, but I doubt very much that Mr. Apogee or Setai buyer are looking for an $8k credit.

April’s Most Expensive Miami Beach Condo Sale

Apogee South Beach:  800 S Pointe Dr #1801 – Miami Beach, FL 33139

Listed for $6,795,000 and sold for $5,900,000 on 04/16/2010

Apogee is one of my favorite condos in Miami Beach because of its simple and austere facade – the views are ridiculous! and the building keeps living up to its name with record sales.  Although this particular unit was listed for $6,795,000 in may of 2009, the buyer got a 13% discount, which is not at all bad.  The MLS reads:

High floor corner unit at Apogee. 4 bedroom/3.5 bath residence. Lrg living room with fireplace. Large master suite with midnight kitchen. Media room and outdoor kitchen. Top of the line line appliances, exceptional woodwork in closets, sunken bathtub/ rain showers. Panoramic views of Fisher Island, Atlantic Ocean, Government Cut, South Beach. 2400 sf wrap-around terrace. 2.5-car enclosed garage. Apogee is the most exclusive building in South Beach and one of the most luxurious condominiums South of NYC

Features:

• 4,154 square feet of living space
• 4 bedrooms / 3.5 bathrooms
• Built in 2008
• 2 parking spaces
• 2400 square foot wrap-around balcony
• outdoor Summer kitchen
• Monthly maintenance = $5,046

April’s Second Most Expensive Miami Beach Condo Sale

Apogee South Beach:  800 S Pointe Drive, #2002 – Miami Beach, FL 33139

Listed for $5,750,000 and sold for $4,750,000 on 4/05/2010

Apogee is racking them up!  another fabulous unit on the 20th floor with endless views of Government Cut, Fisher Island and both sunsets and sunrises.  This one is a little smaller than 1801, but paying a bit more per square foot ($1,532/sq.ft as opposed to $1,420/sq.ft.).  This unit was listed for $5,750,000 in June of 2008 selling at a 17% discount.  Is there a magical $1 million off the list price at Apogee (I see a pattern in the last couple of months).  MLS reads:

Miami’s FINEST Full Service Boutique Bldg! Only 67 units S.of 5th Street! Highest Floor Available in “02″ w/11′ deep & 1000 sq.ft.Sunrise/Sunset Terr. w/floorthru views of Bay, Ocean & City. Only unit w/outdoor shower!Unit has double the Low Voltage Lighting Package & Upgraded Stone throughout. Outdoor Summer Kitchens; 2.5 Car enclosed garages w/AC; Resort-like pool deck,spa & fitness ctr. w/Sunset Views & Lush New State Park all by Yabu & Pushelberg Design Team.White-glove Concierge Services

Features:

• 3,100 square feet of living space
• built in 2008
• 2 parking spaces
• 3 bedrooms / 3 bathrooms
• 1000 square foot terrace
• outdoor Summer kitchen
• Monthly maintenance = $3778

April’s Third Most Expensive Miami Beach Condo Sale

The Setai – 101 20th St #A – Miami Beach, FL 33139

Listed for $5,500,000 and sold for $4,000,000 on 4/01/2010

The Setai is the epitome of luxury, amenities and pampering and although the photos of this raw unit will not say much to most of you, it’s a gorgeous blank canvas for any architect.  All you need is a little imagination and a bit of cash to make this space spectacular – I’m sure the lucky buyer will do just that.  You may even be thinking, “wait, you can’t finance that place” – truth is, most of these sales are cash deals….no worries about Fannie Mae or Freddie Mac in this market. MLS description reads as follows:

Great opportunity to own big space with direct ocean views at The Setai.  Sold raw or with The Setai’s famous architect plans.  Plans are for a three bedroom unit with a 20 foot ceiling direct ocean view living area.  Three balconies: northeast corner, southeast corner and direct south.  Opportunity to build out to your taste.

If only The Setai and The W would get together and do something about that ugly Days Inn they have in between them, it would make The area of The Bass Museum and Barclay Plaza so much more pleasant.

Features:

• 2,305 square feet of living space
• built in 2004
• 3 bedrooms / 3 bathrooms
• 1 parking space
• direct ocean views / ocean front condo
• monthly maintenance = $4846

**all information obtained from the SouthEast Florida Multiple Listing Service**

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Mondrian South Beach – Condo Hotel

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?

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Top 3 Most Expensive Miami Beach Condo Sales – February 2010

There were 111 Miami Beach Condos sold in February ranging in price from $33,500 for a bank foreclosed Normandy Island studio, to a $3.25 Million South Beach Condo at The Continuum.  Curious how the lowest Miami Beach home sold last month was also in Normandy Island, it’s definitely the place to go for good deals, but many Miami Beach purists don’t even consider Normandy a part of the beach … go figure.  No surprise that 2 of the 3 highest sales were South Beach Condos – South of Fifth properties historically bring the best investment proposition.

February’s Most Expensive Miami Beach Condo Sale

Continuum South Beach:  50 S Pointe Dr #1001/8 – Miami Beach, FL 33139

Listed for $3,500,000 and sold for $3,250,000 on 02/01/2010

The Continuum South Beach keeps bringing us the highest monthly sales (with last month’s highest Miami Beach Condo Sale at $3,482,400).  I personally like the first tower better, but who am I to judge?  The amenities are out of this world and remember that it is the only high-rise South of Fifth that is directly on the ocean.  This particular residence was listed originally for $4,799,000 in February of 2009.  The MLS description says the following:

Spectacular sweeping direct ocean and South Beach views from this 4/4 corner residence with 4 terraces and 4 parking  spaces (2 valet + 2 assigned). Private elevator and foyer, 10 ft ceilings, hurricane glass floor to ceiling windows, marble floors throughout, superior finishes & appliances.  Live in paradise on 13 oceanfront acres at the southern most tip of South Beach with spa like amenities, world-class gym, 3 pools with pool side dining and 3 tennis courts. The Continuum is the preferred luxurious ch

(I guess the MLS ran out of space…..we will never know what “ch” means)

Features:

• Built in 2008
• 3,497 square feet of living space
• 4 parking spaces (2 valet + 2 assigned)
• 4 bedrooms / 4 baths
• marble floors
• beach views
• maintenance fees $3906/month

February’s Second Most Expensive Miami Beach Condo Sale

Apogee South Beach:  800 S Pointe Drive, #702 – Miami Beach, FL 33139

Listed for $3,600,000 and sold for $3,200,000 on 2/10/2010

Apogee is known as the most expensive address when it comes to South Beach condos – This particular residence selling at $1,031 per square foot.  It had been listed since November 2009 for $3,950,000 with a few reductions and a nice final sale.  The view of South Pointe Park, Fisher Island and Government Cut is beyond amazing.  The MLS description reads (yes in all caps):

APOGEE-THE MOST EXCLUSIVE NEW ADDRESS IN SOUTH BEACH. AMAZING VIEWS OF THE BAY, FISHER ISLAND, DOWNTOWN SKYLINE, PORT OF MIAMI, AND THE ATLANTIC OCEAN! 300K IN UPGRADES-CRESTRON CONTROL-TRIAD SURROUND SYSTEM – THIS HOME HAS THE GOURMET KITCHEN ON THE SOUTH SIDE WITH BREATHTAKING WATER VIEWS. BEAUTIFUL SUNKEN TUB AND STEAM SHOWER IN THE MASTER BATHROOM SUITE. ONE OF THE FEW UNITS FINISHED WITH BEAUTIFUL 3′X 3′ ITALIAN MARBLE FLOORS. BRING YOUR PICKIEST CLIENTS AND MAKE AN OFFER ON THIS UNIQUE HOME!

Features:

• 3,103 square feet of living space
• 2 parking spaces
• 3 bedrooms / 4 bathrooms
• bay views
• Marble floors
• custom surround sound system
• Built in 2008
• Maintenance fees $3,810/month

February’s Third Most Expensive Miami Beach Condo Sale

One Thousand Venetian – 1000 Venetian Wy #801/03 – Miami Beach, FL 33139

Listed for $1,699,000 and sold for $1,500,000 on 2/12/2010

This condo unit had been listed since November of 08 starting at $3,950,00 and also showing for rent at a monthly rate of $14,900.  One Venetian happens to be one of those Miami Beach condos that people love because of the views – yes it’s an older building, but location is convenient (minutes from Downtown Miami and South Beach) and views, views and more views!  MLS says (in caps also – I guess they had to scream to see this baby):

THIS HIDDEN PEARL ON AN ENTIRE PRIVATE FLR BACKS TO AN AMAZING WATERFRONT OFFERING SERENE PRIVACY & VIEWS. THE STUNNING HOME’S 3,840 SQ.FT. 5BD/4.5BA. TWO APARTMENTS W/4 COVERED PARKING SPACES PROVIDE THE PERFECT SETTING FOR MIAMI LIVING. 1,680 SQ.FT. OF TERRACES IS DESIGNED FOR OUTDOOR ENTERTANING W/DIRECT WATER VIEWS,DOWNTOWN MIAMI,& NORTH TO BISCAYNE BLVD. YOU’LL APPERCIATE THR LRG OPEN FAMILY RM-FORMAL DINING AREA. EAT-IN KITCHEN & APPOINTED GRAND MASTER STE. NESTLED BETWEEN MIAMI BEACH & DOWNTOWN MIA

Features:

• 3,840 square feet of living space
• 1,680 square foot terrace
• 5 bedrooms / 4.5 bathrooms
• 2 parking spaces
• bayfront condo
• marble and tile floors
• Maintenance fees $2586 per month

**all information obtained from the SouthEast Florida Multiple Listing Service**

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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

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