Top 3 Most Expensive Miami Beach Condos Sold – April 2011

There were 238 Miami Beach condos sold in April of 2011. Price range of these sales varying from a $25,000 foreclosed studio in the Versailles Condo Hotel on Collins and 34th Street, to a mega luxury sale at Apogee seen below.  27 out of the 238 condos sold were above $1 million and 184 of those sales were below $500,000.  As for distressed inventory (short sales and foreclosures), the number has dropped to 38% for all of April’s sales.  A lot of media channels are calling 2012 the end of the down market for Miami Beach, but I still think it’s on a building by building case – many areas in Miami have already said bye bye to the down market, seeing an upward trend.  Just bring cash, because financing is what’s making it difficult!

April’s Most Expensive Miami Beach Condo Sale

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

Listed for $14,000,000 and sold for $11,500,000 on 4/14/2011

Talk about an amazing top sale for South Beach!  Now this condo has a bit of history or “real estate baggage”, if you will.  It was originally listed for $22,000,000 as “the most expensive Miami Beach Condo ever!” – and that was back in July of 2008.  Well….although it still sold for top dollar, that’s almost a 50% reduction from that original price.  Can you say “HOME RUN” for the current buyer?  This penthouse residence occupies the top 2 floors of the Apogee South Beach with ri-di-culous views of South Beach, Government Cut, Fisher Island and Miami.  The Marketing description reads in all caps:

PENTHOUSE A COMMANDS THE TOP 2 FLOORS OF THE APOGEE. IT IS COMPLETED WITH A 360-DEGREE ROOFTOP PALAZZO, PRIVATE POOL & BUILT IN SUMMER KITCHEN. THE MAIN LIVING AREAS HAS A SOARING 22FT CEILINGS ENCLOSED BY DOUBLE HEIGHT FLOOR TO CEILING WINDOWS WHICH CREATES A FIRST IMPRESSION THAT ONLY A FEW PH’S CAN BOAST. OVER 11,000SF OF TERRACE/BALCONY AREA. IN ADDITION, 2 1/2 CAR PRIVATE AIR CONDITIONED GARAGE AND MAID QUARTERS.

Features:

• 6,853 sf
• built in 2008
• 6 bedrooms / 7 bathrooms / 1 half-bathroom
• 2 1/2 car private air conditioned garage and maids quarters
• roof top palazzo
• 22′ ceilings in main areas
• over 11,000 sf of terrace/balcony area
• marble and wood floors
• Monthly maintenance = $7,935

April’s Second Most Expensive Miami Beach Condo Sale

The Setai Resort & Residences – 101 20th St #2308 – Miami Beach, FL 33139

Listed for $5,899,000 and sold for $4,600,000 on 4/01/2011

The Setai Resort and Residences makes the Top 3 Miami Beach Condos sold again!!  This time with unit 2308, which is obviously gorgeous, but cannot tell from the photos (which happen to be one of the worst examples of photography for a luxury condo in Miami Beach).  This property was originally listed for $6,999,000 in 2006 with several price reductions and marketing description:

One of a kind residence, featuring a large master suite with a private massage parlor and endless views of the Atlantic Ocean.  Enjoy the Sunset and Downtown Miami Skyline from anywhere in the residence or from the expansive terrace.  This 3 bedroom suite has the elegant finishes of The Setai’s Hotel Furniture package and is currently enrolled in the program as the “Specialty Suite”.  Statements available upon request

Features:

• 2,558 sf of living space
• built in 2005
• 2 parking spaces
• 3 bedrooms / 3 bathrooms
• Hotel Furniture Package and “Specialty Suite” hotel program
• monthly maintenance – $4,886

April’s Third Most Expensive Miami Beach Condo Sale

Continuum South Beach – 100 S Pointe Dr #3204 – Miami Beach, FL 33139

Listed for $3,750,000 and sold for $3,270,000 on 6/06/2011

The Continuum South Beach’s South Tower is my favorite of the 2 and the fact that it’s a full-amenity ocean front building, is all it takes to be convinced that the place is amazing.  This particular 32 floor unit only had photos of the view and the foyer in the MLS and the history is a bit strange.  Originally listed for $3.65 Million on October of 2010 and increased to $3.75 Million 2 weeks later.  Marketing description reads:

Best line in the building view of Fisher Island and cruis ship alley. Corner unit with wrap around balcony. Great open floor plan. Full service building with state of the art facilities, world class fitness center, lap pool and juice bar!

Features:

• 2,508 sf
• built in 2003
• 3 bedrooms / 3 bathroom / 1 half-bath
• carpeting and marble floors
• ocean front building
• 2 + parking spaces
• monthly maintenance = $2,255

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

Top 3 Most Expensive Miami Beach Condos Sold in January 2011

There were 179 Miami Beach condos sold in the month of January 2011 ranging from a $2.6 Million Setai Condo, to a $41,000 Marseilles Condo in foreclosure in Normandy Island. The prevailing question lately has been about distressed property inventory – is it slowing down? are there more foreclosures and short sales? are we seeing the bottom? I grabbed sales from the last few months to see what percent of those were distressed:

• September 2010 – 58% of MLS sales were either foreclosures or short sales
• October 2010 – 50% of Miami Beach Condo sales were distressed
• November 2010 – 42% of Miami Beach Condo sales were distressed
• December 2010 – 52% of Miami Beach Condo sales were distressed
• January 2011 – 57% of Miami Beach Condo sales were distressed

It’s evident that this number is not going down and there are still quite a bit of distressed property sales, what you do need to keep in mind is that short sales can take anywhere from a few months to over a year to close.  Which means that some of these sales have been property under contract for quite some time.  The other factor to keep in mind is that most of these closings are on the lower end of the market, properties under $250,000 and very few in the Miami Beach Luxury Condo market.  The other piece of evidence I will share is that actual prices for distressed condos is starting to rise and the very low end of the scale is almost non existent.  Our team does not really specialize is these sales though, but we keep a close eye because once these begin to disappear, the Miami Beach housing market will start to see a significant change for the better.

January’s Most Expensive Miami Beach Condo Sale

Setai  Resort & Residences – 101 20th Street #3603– Miami Beach, FL 33139

Listed for $2,795,000 and sold for $2,600,000 on 1/19/2011

Setai designer furnished and equipped residence with panoramic views of the ocean and Miami Beach, it doesn’t get any better than this.  Setai is known for luxury and amenities and the monthly maintenance fees will attest for that.  This property was on and off the market since 2006 with a starting price of $4.25 Million – it was also offered for rent at $25,000/month.  Pricing for both sale and rental listings were adjusted through the years with a final selling price of $2.6 Million, which is still a nice $1,492/square foot.  The MLS description reads:

GORGEOUS APARTMENT AT SETAI ON 36TH FLOOR OFFERING UNOBSTRUCTED VIEWS OF OCEAN, INTRA COSTAL AND MIAMI BEACH. “TURNKEY PACKAGE”, SOLD FULLY FURNISHED & EQUIPPED (DESIGNER DECORATED PUBLISHED IN “FLORIDA DESIGN”). ONE OF A KIND RESIDENCE! ALSO AVAILABLE FOR RENT WEEKLY & MONTHLY.

Features:

• 1,743 square feet of living space
• built in 2004
• designer furnished and equipped
• oceanfront
• 3 bedrooms / 3 bathrooms
• 2 parking spaces
• open balcony
• Monthly maintenance = $3,339

January’s Second Most Expensive Miami Beach Condo Sale

W South Beach Residences – 2201 Collins Ave #1204 – Miami Beach, FL 33139

Listed for $2,690,000 and sold for $2,500,000 on 1/15/2011

The W South Beach is one of my favorite Miami Beach condo-hotels.  Amenities are fabulous and the designer finishes and workmanship are out of this world.  Although no particular photos were included of this particular residence’s views and floor-plan, I can guarantee they were top notch because that’s what The W is known for. All residences have beautiful views, even if they are not directly situated on the ocean, and you can read more about it in our article from June 2010 – The W South Beach Residences.  The MLS description for this unit reads:

Exquisitely finished and furnished oceanfront condominium residences providing World-Class service and the ultimate resort lifestyle in the heart of South Beach.

Features:

• world renowned W amenities and service
• 1,729 square feet of living space
• built in 2009
• 2 bedrooms / 2 bathrooms
• oceanfront
• ocean views
• turnkey
• designer furnished and equipped
• monthly maintenance = $2,407

January’s Third Most Expensive Miami Beach Condo Sale

Continuum South Beach: South Tower – 100 S Pointe Dr #1007 – Miami Beach, FL 33139

Listed for $2,250,000 and sold for $1,999,000 on 1/14/2011

The Continuum South Beach is a popular amongst our TOP 3 Most Expensive Miami Beach Condos Sold each month.  It’s no surprise it comes up time and time again in Miami Beach’s Luxury lists and it has to do with the ultimate South Beach location as well as amenities.  Think about it – out of all the amazing South of Fifth condos, The Continuum is the only one on the actual tip and it is ocean front with endless views of the ocean, Fisher Island, Government Cut and Miami Beach.  This particular residence was on and off the market and listed for $2.25 Million in June of 2010 with a selling price of $1.999 Million.  The MLS reads:

LUXURIOUS UNIT WITH DIRECT OCEAN VIEW. PRIVATE FOYER, MARBLE FLOORS, 10′ CEILINGS, OPEN KITCHEN AND SPLIT BEDROOM PLAN. CONTINUUM OFFERS ON-SITE CONCIERGE SERVICES, 24-HR COMPLIMENTARY VALET PARKING, 24-HR SECURITY, 3 TENNIS COURTS, TENNIS PRO-SHOP, RESTAURANT, 25000 SQ.FT STATE-OF-THE-ART GYM AND SPA, 2 LAGOON POOLS, LAP POOL AND BEACH / POOL SERVICE.

Features:

• 1,870 square feet of living space
• built in 2002
• 2 bedrooms / 2 bathrooms / 1 half-bath
• marble floors
• 10′ ceilings
• 1 parking space
• oceanfront
• monthly maintenance = $1,800

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

Top 3 Most Expensive Miami Beach Condo Sales – October 2010

There were 131 Miami Beach condos sold in the month of October of 2010 ranging from a $4.95 Million Continuum South Beach condo, to a $43,000 7315 Byron Ave Condo in foreclosure in North Beach.  Price per square foot ranging from $49 to $4,350 – talk about a disparity! But that just shows how different the real estate market can be in the same city!  Out of the 131 sales, 11 of them were Miami Beach Condos over a million and 49% of October sales were distressed (short sales or foreclosures) – that’s a 9 point drop from last month.  All 3 top sales this month were at Continuum South Beach – which makes me sound like a broken record when I tell you that you can’t go wrong when buying at The Continuum Towers.

October’s Most Expensive Miami Beach Condo Sale

Continuum South Beach – North Tower: 50 S Pointe Dr #1101/8– Miami Beach, FL 33139

Listed for $4,950,000 and sold for $4,350,000 on 10/08/2010

Amazing remodeled residence at Continuum South Beach.  This 11th floor NE corner unit in the North Tower is nothing short of WOW.  The condo had been listed for $5,490,000 in June of 2010 and then re-listed for higher when furnished by interior designer.  It’s common for these South Beach condos to sell fully furnished and ready to go and most are cash deals!  The description reads:

Back on market following a complete remodeling with beautiful furnishings by Sharron Lewis Design. Spectacular NE Corner unit “Best Line” in the building at the Continuum II North Tower with incredible direct ocean front views! 4 bedroom 4 1/2 bath with 10′ ceilings, new construction, 2 garage parking spaces plus 2 valet. Spa-like amenities include: 20,000 sf world-class spa & gym, 3 pools, private beach club, restaurant & 3 clay tennis courts.

Features:

• 3,500 square feet of living space
• 650 square feet of exterior terrace
• built in 2008
• Continuum South Beach location – North Tower
• 4 bedrooms / 4.5 bathrooms
• 2 valet spaces
• full-amenity building
• ocean-front condo
• ocean views
• Interior Designer furnishings
• Monthly maintenance – $3,500

October’s Second Most Expensive Miami Beach Condo Sale

Continuum South Beach: South Tower – 100 S Pointe Dr #2805 – Miami Beach, FL 33139

Listed for $3,800,000 and sold for $3,150,000 on 10/08/2010

Continuum South Beach residence on a high floor with custom furnishings and endless ocean, Government Cut and Fisher Island Views!  This property had been listed for $4.1 Million back in April of 2009, with a $300,000 price reduction and finally selling at almost $1 million under list price!  It just shows that no offer is a crazy one!  The MLS reads:

Stunning residence! Much sought after 05 line with unobstructed views straight down the beach and out to the Atlantic Ocean. Watch the ships parade by! Property boasts amazing finishes, custom furnishings, his/her bath suites and huge closets.

Features:

• 2,847 square feet of living space
• built in 2002
• Continuum South Beach Location – South Tower
• 3 bedrooms / 3.5 bathrooms
• oceanfront building
• direct ocean views
• custom furnishings and finishes
• Monthly maintenance = $1,597

October’s Third Most Expensive Miami Beach Condo Sale

Continuum South Beach: South Tower – 100 S Pointe Dr #2006 – Miami Beach, FL 33139

Listed for $3,850,000 and sold for $2,900,000 on 10/12/2010

Not much information given for this property other than it being a short sale approved at the listing price of $3.85 Million, but selling at almost $1 Million less.  The MLS provides no interior shots and the photo of the view may be a canned one (meaning “borrowed” from another listing).  It’s amazing, but happens all the time.  The only info provided is:

Most desirable unit with direct Ocean and Intracoastal Views.  Private elevator lobby a true three bedroom unit.

The history of this residence does show that it was on the market for one year.

Features:

• 2,508 square feet of living space
• built in 2002
• 3 bedrooms / 3.5 bathrooms
• corner unit
• Continuum South Beach location – South Tower
• Marble floors and carpeting
• Monthly maintenance fees = (not disclosed)

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

Top 3 Most Expensive Miami Beach Condo Sales – September 2010

There were 146 Miami Beach condos sold in the month of September of 2010 ranging from a $6.75 Million Continuum South Beach condo, to a $31,500 Fashion Condo in foreclosure in South Beach.  Out of the 146 sales, 8 of them were Miami Beach Condos over a million and 58% of September sales were distressed (short sales or foreclosures).  Murano Grande and Continuum South Beach keep appearing on our Top 3 almost every month – which means when it comes to Luxury…value is in the eye of the beholder, in this case, the buyer.

September’s Most Expensive Miami Beach Condo Sale

Continuum South Beach – South Tower: 100 S Pointe Dr #1804 – Miami Beach, FL 33139

Listed for $8,395,000 and sold for $6,750,000 on 09/22/2010

This $6.75 Million Sale was not just for a condo unit at The Continuum – it was for 2 units put together, a guest suite and a cabana at the South tower.  It totals 4,161 square feet of living space and the 18th floor views were of the ocean and Government Cut/Fisher Island.  the photos really don’t do the space justice, but don’t take my word for it, the final price tag says it all.

This deal went under contract, according to the MLS, in December of 2009 and closed with a different agent this past month.  The MLS description is (and I’m sure the listing agent meant remodeled cabana, not remolded):

Rare opportunity to own a guest suite, Cabana and two units put together pre construction. Completely remodeled units with wide foyer entry to spacious living room, an open kitchen encompassing den and dining area, featuring marble counters, wine cooler, pantry and updated appliances with fabulous views. Comfortable master suite, with plenty of closet space. Two additional bedrooms both with incredible views. Designed to cater to your every need. Cabana has been completely remolded & updated.

Features:

• 4,161 sq.ft. of living space
• built in 2002
• 3 bedrooms / 3 bathrooms / 1 half bath
• corner unit
• 2+ covered parking spaces plus valet parking
• ocean-front building in South of Fifth area of South Beach
• remodeled Cabana
• Monthly Maintenance = $3,609

September’s Second Most Expensive Miami Beach Condo Sale

1500 Ocean Drive: 1500 Ocean Dr 3401 – Miami Beach, FL 33139

Listed for $2,500,000 and sold for $2,250,000 on 9/09/2010

1500 Ocean Drive was designed by none-other than Michael Graves and is located at the North end of Ocean Drive.  it was built in 1999 and has all the amenities you would expect from a South Beach luxury condo.  This particular unit was originally listed for $2.8 Million in 09 and went under contract in August on 2010, closing a month later.  It was sold “turnkey” with all the furniture you see in the photos.  The MLS description reads:

Ultra-chic furnished, turn key, direct ocean 3 bedroom at 1500 Ocean Drive.  Contemporary-hip interior with curved glass open great room and massive 2500 sq.ft. direct oceanfront terrace exemplifies the ultimate South Beach lifestyle! Marble floors and baths, gourmet kitchen, full service luxury building in South Beach. Every amenity available, private beach lounges, 24 hour security and valet, fitness center, heated pool and spa, concierge and more.

Features:

• 2,320 square feet of living space
• built in 1999
• corner unit
• 3 bedrooms / 3 bathrooms / 1 half-bath
• ocean-front building
• 2+ covered parking spaces plus valet paring
• 2,500 sq.ft. terrace
• marble floors
• monthly maintenance = $2,264

August’s Third Most Expensive Miami Beach Condo Sale

Murano Grande at Portofino Condo: 400 Alton Rd, #1703 – Miami Beach, FL 33139

Listed for $2,149,000 and sold for $1,925,000 on 9/30/2010

Another 03 line sells, this time a few floors lower than last month’s “limestone and designer unit”.  Murano is all about location, marina and views. Monthly sales in this building are a reflection of South Beach Lifestyle and how real comfort cares not about price.  This particular residence was listed originally at $2.349 Million in August of 09 and selling for top dollar a year later is not surprising based on showing condition.  MLS reads:

A stunning, flow-through 3 bedroom condo at Murano Grande in South Beach.  Extensive designer upgrades include stone flooring, high-end doors, electronic lighting control systems, a sound system plus a unique step-up bar for entertaining.  Flat screen televisions in every room!  Enjoy dramatic water views from all rooms.  A private elevator foyer greets you as you arrive into this apartment that feels like a house in the sky.  Almost 3100sf of indoor living space, plus two massive terraces.

Features:

• 3,058 square feet of living space
• built in 2003
• bay-front building
• 1 parking space plus valet parking
• 3 bedrooms / 3 bathrooms / 1 half bath
• Marble floors
• 2 exterior terraces
• electronic lighting control systems
• monthly maintenance = $2,248

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

Top 3 Most Expensive Miami Beach Condo Sales – August 2010

There were 123 Miami Beach condos sold in the month of August of 2010 ranging from a $2.525 Murano Grande bayfront condo in South Beach, to a $27,000 Versailles Condo-Hotel efficiency unit in foreclosure in mid-beach.  Only 6 of the 123 sales were Miami Beach Condos over a million which is evidence that the sales we saw 2 months ago were not the norm in today’s market.  Please note that 51% of August sales were distressed (short sales or foreclosures), but the very low end inventory is slowly disappearing.

August’s Most Expensive Miami Beach Condo Sale

Murano Grande at Portofino: 400 Alton rd, # 3301 – Miami Beach, FL 33139

Listed for $2,995,000 and sold for $5,525,000 on 08/26/2010

Murano Grande in the SoFi (South of Fifth) area is known for its amazing views, for its interiors and luxurious amenities.  You can’t beat the location and this unit in particular boasts views like you have never seen before.  In addition to having almost 4000 square feet, the selling price at $635 per square feet is not bad at all for a custom designed 4/4.5 in one of the best South Beach Condos.  The MLS reads:

Just reduced and priced to move.    Views, Views, Views   Gorgeous, extra large, custom designed 4 bedroom/4.5 bath home with panoramic views of the Miami Skyline, Biscayne Bay and South Beach. Three large terraces, oversized living/dining room, extra large eat in kitchen/family room featuring Miele, SubZero appliances, media room with private bath, master bedroom with his/her bathrooms, all designed by the award wining Manhattan design firm Garcia-Maldonado.   Bring your most demanding clients.

Features:

• 3,979 sq. ft. of living space
• 4 bedrooms / 4 bathrooms / 1 half-bath
• bay front condo
• South Beach location – South of Fifth Street
• 2 parking spaces
• Built in 2003
• 3 terraces
• Master Suite with his/hers bathrooms
• custom designed by known Manhattan interior design firm
• media room with private bath
• Maintenance = $2187 / month

August’s Second Most Expensive Miami Beach Condo Sale

The Continuum South Beach:  50 S Pointe Dr, #2503 – Miami Beach, FL 33139

Listed for $2,200,000 and sold for $1,880,000 on 8/06/2010

Here we have a SW corner unit with view of all the SoFi high-rises, South Pointe Park, Government Cut and Fisher Island.  The view shown above, although included in the listing marketing materials, doesn’t belong to this residence (it’s one of the tricky things you need to catch when looking at the MLS).  Either way, you have an amazing 2 bedroom beach front condo at Continuum selling for $978 per square foot!  This is what we call, Prime Miami Beach Real Estate.  MLS description says:

Highly desirable and sought after 2 bedroom 2.5 bath, SW corner unit. Enjoy views of the Ocean, Bay, and City from one of your 4 large balconies or through your floor to ceiling windows in every room.  Arrive at the unit from your private elevator landing.  This designer finished unit has teak wood floors, custom made furniture, designer rugs and electronic drapes along with a centralized high end home entertainment by Russ Sound Systems.  This one of kind unit will take your breath away.

Features:

• 1,922 sq. ft. of living space
• 461 sq.ft. of terraces/balconies
• built in 2008
• 2 bedrooms / 2 bathrooms / 1 half-bath
• SW corner unit with view of Ocean, Bay, Government Cut, Fisher Island and City
• 4 large balconies
• private elevator
• designer fished residence with teak wood floors, custom made furniture and designer rugs
• electronic window treatments
• Maintenance = $1550 / month

August’s Third Most Expensive Miami Beach Condo Sale

Murano Grande at Portofino Condo: 400 Alton Rd, #2103 – Miami Beach, FL 33139

Listed for $1,999,999 and sold for $1,870,000 on 8/25/2010

Another Murano Grande Condo makes Top 3 Most Expensive Miami Beach Condos sold in August of 2010.  This one with Limestrone floors and magazine published and selling at $612 / square foot.  Murano Grande is known for its great kitchen and unending water views.  Some people prefer Bayfront buildings because you get Sunsets and the view at night are even more spectacular than in the day time.  The MLS says the following about this condo unit:

As seen in Febuary edition of Florida International magazine: Stunning custom designed unit with private elevator opening into dramatic entrance foyer. Beautiful dove gray limestone floors throughout living area, and designer wooden flooring in the master bedroom. Ambient lighting throughout. Open floorplan with dramatic water views from every room. Bring your pickiest buyers, as this unit is the best priced designer upgraded unit in the building. The custom features make it truly spectacular.

Features:

• 3,058 square feet of living space
• built in 2003
• 3 bedrooms / 3 bathrooms / 1 half-bath
• 1 parking space
• Limestone and designer wood floors
• open floor plan
• bayfront location
• custom designed
• private elevator
• Maintenance = $2248 /month

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

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**

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

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!

Local 10 News features Miamism

Local 10 News features Miamism’s take on the Miami Beach Luxury real estate market. I was interviewed by Julie Summers on Friday regarding an article I posted about discrepancies in Miami Beach Luxury Real Estate list versus sale prices.

Miami Beach Luxury Real Estate Sales – September 2008

Of course the media will always try to sensationalize the news – so I will give you the findings of my research to see if it is true that “Housing Crisis affects Luxury Home Prices“.

From my article above, there were obvious discrepancies between list and sales prices in September in Miami Beach Luxury Homes market. But the purpose of that article was to present a question to our readers – were September numbers a fluke? or is that a trend we will begin to see? I decided to do a small study on Luxury property stats to see what the real numbers are instead of an isolated month. Here’s what I came up with:

In 2007 – There were 91 Miami Beach Luxury Homes sold in the price range of $1,420,000 to $16,400,000 -

• The average percent difference between list price and sale price in 2007 was 12%

• The average list price per square foot was $718

• The average sale price per square foot was $629

In 2008 – There have been 70 Miami Beach Luxury homes sold in the price range between $1,000,000 and $13,100,000

• The average percent difference between list price and sale price in 2008 has been 12% (no difference from last year)

• The average list price per square foot is $806 (quite a bit higher than last year)

• The average sale price per square foot is $712 (HIGHER – prices have increased)

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In 2007 – There were 162 Miami Beach Luxury Condos sold in the price range of $1,110,000 to $12,000,000

• The average percent different between list and sale price in 2007 was 9%

• The average list price per square foot was $950

• The average sale price per square foot was $852

In 2008 – There have been 153 Miami Beach Luxury Condos sold in the price range between $1,002,000 and $12,300,000

• The average percent difference between list price and sale price in 2008 has been 11% (slightly higher than last year)

• The average list price per square foot has increased to $1021

• The average sale price per square foot has also increased to $910

Remember that stats are just that, and as much as I like to play with numbers and give you statistics, you cannot generalize. These numbers are provided to give you an overall impression of the Luxury Real Estate Market, but it’s important for you to study each particular situation individually. Miami Beach Luxury Condos for example are very particular because you cannot compare sales in Apogee to Bentley Bay for example – you need to know each building, the historical numbers and each seller’s situation.

If you are a Miami Luxury buyer, it’s good for you to know that there ARE sellers in distress and as I said in the interview, Foreclosures in the Luxury Market which is INSANE! But don’t assume that everyone wants out and is willing to dump their properties.

I also pointed out that there are a lot of cash buyers from Europe and South America – we are currently working with French, Italian, Venezuelan and Russian clients willing to pay cash if the right property comes along.

As for the 2 properties featured on the news – They are Majestic Properties Listings:

The Temple House – 1415 Euclid Avenue – Miami Beach

Listed at $9,950,000

The Temple House,South Beach’s largest residence. Over 16,000 square feet 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+ square feet grand loft with approx. 30 foot high ceiling, 2,500 square foot outdoor terrace, 2-car garage plus parking for 3 additional vehicles and much more!

• 5 bedrooms / 6 bathrooms
• Built in 1935 by known architect L. Murray Dixon (architect for The Victor and The Tides hotels)
• converted into a synagogue in 1942 and expanded by known architect Lester Avery in the 60′s
• Turned back into a residence in 2003 by current owner – Daniel Davidson (2 year process)
• polished concrete floors
• 7,000 square foot living area with 30? ceilings
• mezzanine overlooking living space
• media room
• plans for a second floor pool area on terrace.

The Continuum – 50 S. Pointe Drive, #3301 – Miami Beach

Listed at $9,500,000

One of a kind direct oceanfront condo in Continuum South Beach. Ultra-modern luxury residence located on the 33rd floor with breathtaking ocean and city views. 3,000+ square foot of open living space, private elevator foyer, floor-to-ceiling windows, 1,300+ square foot of terraces and large Italian open-style kitchen, complete with Miele appliances. Building located on 13 acres of prime oceanfront land at the tip of South Beach

• 3 bedrooms / 3.5 bathrooms
• 2 parking spaces
• private elevator foyer
• over 1,300 square feet of terraces with amazing views of the Ocean and South Beach
• Full amenity building with Spa, state-of-the-art fitness center, valet, concierge, etc.
• built in 2008