Billy Joel just listed his Miami Beach home for $14,750,000.  Yes, you read correctly, Mr. Piano Man himself is selling his home located in prestigious La Gorce Island, in Miami Beach.  Another Miami Beach Celebrity home on the market, this one is a Mediterranean Revival style home with wide bay views and 150 feet of water frontage.

The house has 8,881 sf of living space, with 7 bedrooms, 8 bathrooms and 1 half bath.  It sits on a 30,330m sf lot and has a private dock , amazing pool area and views to die for.

Tax records show that the home was purchased in February of 2006 for $13.5 Million.  The selling description reads:

Elegant 7 bedroom 8.5 bath Mediterranean waterfront estate is situated on prestigious La Gorce Island.  this 8,881 sq ft home boasts expansive open areas with breathtaking views of the bay.  Luxurious bar with wine cellar, gourmet chefs kitchen, formal living and dining room, office and sumptuous master suite all of which showcase the finest details and finishes.  Perfect home for entertaining with outdoor summer kitchen.  Over 150 feet of water frontage.

There are currently 95 Fisher Island Condos for sale (2 more than last month):

• Highest priced listing: $14,000,000 for an exclusive Oceanside 6/6/1
• Lowest priced listing: $98,010 for a foreclosed studio at Marina Village
• Pending Sales: 6 (1 more than last month)
• Closed sales in April: 3 (4 less than last month)

The 3 Fisher Island Condos sold in April were:

• Bayside Village – 2211 Fisher Island Dr – listed for $1,450,000 and selling for $1,350,000.
• Bayside Village – 2012 Fisher Island Dr – listed for $995,000 and selling for $900,000.
• Marina Village – 41216 Fisher Island Dr – listed for $549,000 and selling for $375,000.

The median listing price in Fisher Island is still $2.49 Million.  Distressed properties continue to make up less than 10% of current for sale inventory.  Fisher Island’s desirability has not decreased and will only continue to improve with the ultra-luxury demand that is currently growing in South Florida.

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

We also know that the Latin Hearthrob’s Miami Beach home had gotten some interest from none other than Beyonce and JayZ.

Ricky Martin also recently sold his Golden Beach home for $6.3 Million.

Does this mean Ricky is leaving Miami for good?? I really hope not since he has a serious fan base here that adores him.  Whatever the reason for selling, best wishes from Miamism to Ricky Martin!

Here’s what we had to say about Ricky Martin’s Miami Beach Home back in 2010.

North Bay Road Mansion – Listing price $13,500,000 $12,500,000

The home’s listing history shows it went on the market in February of 2007 for $16.9 Million, was decreased to $15.9 in February of 2008, then increased to $19.5 Million a day later and was taken off the market in June of 2008.  Talk about a pricing roller coaster!  Fact is, it’s still a gorgeous bay front home with a very picturesque celebrity history which is very positive and very Miami.

It’s a 9,491 square foot home with 7 bedrooms, 8 bathrooms and 2 half-baths.  It sits on a 105 ft  X 184 ft lot with 105 feet of open bay frontage.  It has a 4-car garage, private dock, media room, elevator and plenty of incredible and luxurious details – perfect example of Miami Beach Luxury Living.

The Multiple Listing Service’s description reads as follows:

Mediterranean masterpiece with breathtaking open bay views from every room. Featuring 7 bedrooms, adjoining courtyard-view guest quarters, 8 full baths, 2 half baths including cabana, fully wired media room and elevator. This private estate is the epitome of luxury living featuring the finest in detailed finishes including solid mahogany doors, ceiling treatments, fireplaces, travertine marble throughout, and crown moldings. Spacious gourmet kitchen, formal dining room, full bar. Jacuzzi and pool.

I love the fact that Miami is packed with Celebrity Properties.  It’s common knowledge that these properties sell for more because of their former owners.  Truth is that because they are desirable,  Miami Beach celebrity homes carry a hefty price tag.

There are currently 93 Fisher Island Condos for sale (3 less than last month):

• Highest priced listing: $14,000,000 for an exclusive Oceanside 6/6/1
• Lowest priced listing: $170,000 for a 1 bedroom / 1 bathroom residence at Marina Village
• Pending Sales: 5 (2 more than last month)
• Closed sales in March: 7 (2 more than last month)

The 7 Fisher Island Condos sold in March were:

• 5000 Bayview at Fisher Island– 5012 Fisher Island Dr – listed for $6,900,000 and selling for $5,750,000.
• Oceanside at Fisher Island – 7281 Fisher Island Dr – listed for $6,900,000 and selling for $6,462,500.
• 5000 Bayview at Fisher Island – 5022 Fisher Island Dr – listed for $2,450,000 and selling for $2,250,000.
• Oceanside at Fisher Island – 7922 Fisher Island Dr – listed for $1,985,000 and selling for $2,000,000.
• Seaside Villas – 15723 Fisher Island Dr – foreclosure listed for $425,000 and selling for $394,500.
• Marina Village Gardens – 40207 Fisher Island Dr – listed for $185,000 and selling for $185,000.

The median listing price in Fisher Island is still $2.53 Million.  Distressed properties make up less than 10% of current for sale inventory.  Fisher Island is still one of the most desirable areas to live and vacation in the country and ultra-high end sales are proof of that.

When you think of exclusive real estate and luxury living in Miami, Bal Harbour always comes up….and that undoubtedly leads to One Bal Harbour Resort & Spa.  The site was home to The Old Harbor House that many of us remember from years ago because of the incredible boardwalk that leads to one of the most beautiful and secluded shores in Miami Beach.  The building is nothing short of fantastic and takes advantage of endless views of the Haulover Inlet and The Atlantic Ocean.

Anyone that knows me KNOWS that I’m all about the views and that’s why One Bal Harbour Condo is one of my faves.  The lobby and common areas are not overstated and I assume done modestly as not to appear pretentious but instead classy and low-key, very similar to the profile of the European and South American buyers the condo attracts.

Of course I have to mention the architects – NBWW, or Nichols Brosch Wurst Wolf and Associates, formerly (Nichols Brosch Sandoval and Associates) – known mostly for their hotel architecture and done local projects like Fontainebleau II and III, The “W” Hotel in South Beach and The Loews Hotel, to mention a few.  The truth is that the floor plans work – although not as clean and simple as I prefer, I was taken aback by the framing of the views (which is major brownie points in my book).  The building is a bit labyrinthian in nature, but I love the location and also the location (now you know why my kids think I exaggerate).

So here’s the 411:

(This was back in 2009 – give me a call if you want the current numbers)

Out of 124 total condo-hotel units at One Bal Harbour Resort & Spa, there are 40 units left in inventory.  What’s amazing here is that the prices start at $700/per square foot and the units are totally furnished and decorated with mahogany wood floors, stone counters, leather accents, custom artwork by Jay McCafferty and Darren Waterston, plasma TV’s as well as fully equipped kitchens.  The residences are either 550 square foot studios or 1100 square foot one-bedroom suites (or combo of both).  They all come fully furnished and equipped and hotel rental program is optional.

Many of you will call to discuss cap rates and rental income, but as I have explained before with condo-hotels, we are only allowed to sell the real estate and prohibited from discussing economic tax benefits from rental arrangement or projections on rental income – we can, on the other hand, arrange a meeting with the party in charge of the rental aspect of the condo-hotel.

So you can own a spectacular studio starting in the $350,000′s or a one bedroom in the $750,000′s – not bad when you compare to prices in other “exclusive Miami Beach Condos”.

I love when I can share distributions with our readers – here are some rendered floor plans for you to see the flow of the residences.

One Bedroom Suite

2 Bedroom Suite

Studio

One Bal Harbour was built in 2007 and the Interior Designers were Culpepper, McAuliffe and Meaders.  Building amenities include restaurant (One Blue Restaurant) • 10,000 square foot L’Institute de Guerlain Spa • Oceanview pool and beachfront cabanas • Beachside service

The Developer description reads as follows:

The ultra-chic oceanfront ONE Bal Harbour Hotel & Spa is located on teh northeastern end of Bal Harbour Village, bordered by Baker’s Haulover Inlet and the Atlantic Ocean.  Almost 750 feet of pristine beachfront and world-class amenities on a spectacular five-acre site only 15 minutes away from renowned South Beach and right next the exclusive Bal Harbour Shops.  Our Bal Harbour hotel offers easy access from both Miami and Fort Lauderdale International airports.

Innovatively modern in design with a curved shape and glass exteriors, our 18-story Hotel elegantly combines state of the art technology, refined and peaceful contemporary interiors, unique custom made artwork and an exquisite ambiance for those expecting nothing but perfection.”

*originally published on Nov/18/2009*

Miami Beach Mod Home at 1835 W 27 St

listed for $14,500,000

If the exterior of this home didn’t catch your attention, then I don’t know what will.  The pool area is perfection!  With infinity pool and the right combination of landscaping. together with leveled patios to enjoy unending views from different  perspectives.  I personally love when the facade of the house compliments the view.  I don’t know what is more pleasing to the eye, the actual architecture, or the vistas.

I’ve been detailing the home to death to try to find negatives and frankly, I can’t find any.  This contemporary home is simple and unpretentious, just like modern architecture should be.  The choice of materials is fantastic – from woods, limestone and metals.  The fact that you have wall space for art is a plus, since most of these homes focus on light and a lot of windows and never leave room for artistic expression on walls.

The house has over 10,000 sf of interior living space with 7 bedrooms and 8 bathrooms.  The lot size is 22,192 sf and has a 2-car garage and private dock.  It was built new in 2009 and has been listed since September of 2010 with a starting price of $15,900.000.  The current asking price is $1,450 per square foot.  Keep in mind that the average price per square foot in 2011 in The Sunset Islands was $924, and Anna Kournikova  just sold her Sunset Island Home for $1,116 per square foot.  Does this mean that this seller would be willing to let go of this amazing modern home for $12 Million….only one way to find out!

One factor is for sure, this home is the perfect way to enjoy Miami’s climate and lifestyle with location, privacy and style.  Kudos to sellers in their choice of furniture and color which only serves to compliment the home’s architecture.

I decided to write about the major features of the 3 main architectural periods common in Miami so that you know what to expect when you walk in a home.   I can go into a property without knowing anything about it and tell you the period it was built and when it was remodeled by features and materials.

If you, as a real estate buyer, can define what’s important to you, it will be so much easier to find the perfect property (especially because there are so many properties for sale right now).

The 1920′s house (Spanish Mediterranean or Spanish influence) will usually have the most charm, although I cannot generalize that all 1920′s properties will have the same features, this is what you can expect:

• High textured stucco walls
• Open beamed ceilings and grand living rooms
• Quarry tile and hardwood floors
• Wood casement windows with copper screening
• High ceilings
• Formal spaces (formal living and dining rooms)
• Smaller rooms and smaller closets
• Archways – separate cottages and carports
• Perimeter walls
• Decorative columns – voluted columns, ionic or Corinthian orders.
• Barrel tile roofs (sometimes Historic Cuban Tile) and flat roofs with high parapets and decorative drain spouts.

The 1930′s and 40′s home will usually be smaller in scale but will still have charm.  They do not have the same attention to detail as the 20′s predecessors, but are more readily available and usually a bit more affordable.

• High textured stucco walls
• May have open beamed ceilings
• Smaller kitchen and bedrooms
• Quarry tile not as decorative as the 20′s and hardwood floors
• Sometimes linoleum in the kitchen
• Bathrooms are less decorative
• Usually have steel casement windows

1950′s (Mid-century Modern) is when the modern movement began and although these homes don’t have a lot of charm, they have a different feel all together.  They will be more comfortable and sometimes it’s difficult to decide between comfort and charm.

• Big common areas – usually a Great Room with large spans
• No formal rooms – open dining, living and family rooms
• Bigger windows – picture windows for light
• Large bedrooms
• Long, horizontal clean and crisp lines
• Big closets, lots of storage
• Split bedroom plan with master on one side and the rest of the bedrooms on the other.
• Floor Finishes will be Cuban tile floors or Terrazzo and hardwood.
• Smooth plaster walls and ceilings
• Corner windows in bedrooms are typical but not always present

When I work with buyers, I can tell from the first couple of properties, even if they have not identified their needs, what they are looking for.  Most people love the comfort of the Mid-century Modern homes, but sometimes feel the space is a bit sterile and prefer the warmth of the 20 and 30′s materials.  Some people really need closet space and although they love the charm and the details of Spanish Mediterranean homes, cannot make up their minds because closet space is usually limiting.

I have been able to redesign homes for our buyers so that they can have all worlds, but you have to be open to remodeling and making some changes.  If you are in the market to buy a Miami Beach home ask yourself, Comfort or Charm?

*article originally posted on April 6th, 2008*

Every once in a while I have the right to be a little strange, a bit bizarre or just out there.  This is my blog after all and if you are reading this and don’t like  my sense of humor then you must be a masochist or a glutton for punishment – either way, stick with me, this may enlighten you.

Team Miamism is made up of different members and we all have our fortes when it comes to Miami Beach Real Estate….and I may even add that those strengths are very different one from the other.  Occasionally someone from the team may approach me and ask if I can visit a property with them because they need my “architectural eye”.   Even Rick, who has acquired a different way of looking at things (after 17 20 years of marriage), had me go with him and buyer clients last week to look at a historic home because of my “architectural eye”.  So if this “architectural eye” of mine is so sought after in our Miami Beach Real Estate Business, wouldn’t it be great if I could package it and let others borrow it?

A friend of mine that will remain anonymous suggested that I create a mobile, lightweight, convenient version of my “architectural eye” that others could borrow.  Genius!! Obviously, this “architectural eye” would be an exclusive benefit of Team Miamism, and God forbid it might get in the hands of the competition!  So for you out there reading this, know that our team comes complete with “architectural eye”, available on a case by case basis only for Team Miamism’s Clients. (wink wink)

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.

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.

• Highest priced listing: $30,000,000 for an exclusive Oceanside 5/5.5 (this home has been listed since April of 2008)
• Lowest priced listing: $180,000 for a 1 bedroom / 1 bathroom residence at Marina Village (short sale)
• Pending Sales: 5 (2 more than last month)
• Closed sales in February: 3 (1 more than last month)

The 3 Fisher Island Condos sold in February were:

• Oceanside Fisher Island– 7927 Fisher Island Dr – listed for $1,899,000 and selling for $2,000,000.
• Seaside Village Fisher Island – 19113 Fisher Island Dr – listed for $850,000 and selling for $780,000.
• Marina Village Fisher Island – 42308 Fisher Island Dr – listed for $195,000 and selling for $145,000.

The median listing price in Fisher Island is still $2.45 Million.  Distressed properties make up less than 6% of current for sale inventory (this number has been decreasing on a consistent basis).  Fisher Island is still one of the most desirable areas to live and vacation in the country and no stats can stand in the way of that…just glad that numbers are showing favorable results.