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**

Showing properties 1 - 50 of 51. See more 33139 zip code real estate.
(all data current as of 7/30/2010)

1. $1,890,000 : 450 Alton Rd, Unit 2603, Miami Beach
   
   3 beds, 3 full baths

   Size: 2,158 sq ft

   Listed with One Sotheby's Int'l Realty
2. $4,500,000 : 50 S Pointe Dr, Unit 2201, Miami Beach
   
   4 beds, 4 full, 1 part baths

   Size: 3,017 sq ft

   Listed with Continuum South Beach Realty
3. $1,799,000 : 101 20 St, Unit 2702, Miami Beach
   
   2 beds, 2 full baths

   Size: 1,213 sq ft

   Listed with Setai Realty, LLC.
4. $1,595,000 : 50 S Pointe Dr, Unit 1206, Miami Beach
   
   2 beds, 2 full, 1 part baths

   Size: 1,698 sq ft

   Listed with Continuum South Beach Realty
5. $1,600,000 : 101 20 St, Unit 2302, Miami Beach
   
   2 beds, 2 full baths

   Size: 1,213 sq ft

   Listed with One Sotheby's Int'l Realty
6. $1,725,000 : 101 20 St, Unit 2301, Miami Beach
   
   2 beds, 2 full baths

   Size: 1,198 sq ft

   Listed with One Sotheby's Int'l Realty
7. $17,000,000 : 50 S Pointe Dr, Unit PH 1, Miami Beach
   
   5 beds, 5 full, 1 part baths

   Size: 6,360 sq ft

   Listed with Continuum South Beach Realty
8. $4,431,000 : 50 S Pointe Dr, Unit 2502, Miami Beach
   
   4 beds, 4 full, 1 part baths

   Size: 3,017 sq ft

   Listed with Continuum South Beach Realty
9. $4,390,000 : 50 S Pointe Dr, Unit 2802, Miami Beach
   
   3 beds, 3 full, 1 part baths

   Size: 2,621 sq ft

   Listed with Continuum South Beach Realty
10. $1,980,000 : 101 20 St, Unit 3804, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,141 sq ft

    Listed with World Class Realty
11. $2,700,000 : 50 S Pointe Dr, Unit 1002, Miami Beach
    
    3 beds, 3 full baths

    Size: 1,977 sq ft

    Listed with Continuum South Beach Realty
12. $1,395,000 : 50 S Pointe Dr, Unit 1704, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,491 sq ft

    Listed with Continuum South Beach Realty
13. $1,375,000 : 50 S Pointe Dr, Unit 803, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,491 sq ft

    Listed with Continuum South Beach Realty
14. $1,899,000 : 101 20 St, Unit 2801, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,198 sq ft

    Listed with Setai Realty, LLC.
15. $1,890,000 : 100 S Pointe Dr, Unit 1905, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,869 sq ft

    Listed with Continuum South Beach Realty
16. $1,075,000 : 450 Alton Rd, Unit 1205, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,750 sq ft

    Listed with Miami Investment Brokers, Inc.
17. $1,278,000 : 1900 Sunset Harbour Dr, Unit 2108, Miami Beach
    
    3 beds, 2 full baths

    Size: 1,550 sq ft

    Listed with Beachfront Realty Inc
18. $2,490,000 : 50 S Pointe Dr, Unit 2403, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,992 sq ft

    Listed with Continuum South Beach Realty
19. $2,048,000 : 50 S Pointe Dr, Unit 2005, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,698 sq ft

    Listed with Continuum South Beach Realty
20. $1,299,000 : 100 S Pointe Dr, Unit 2401, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,591 sq ft

    Listed with Beachfront Realty Inc
21. $2,490,000 : 100 S Pointe Dr, Unit 2005, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,869 sq ft

    Listed with Westpark Realty of Broward Inc
22. $2,375,000 : 101 20 St, Unit 2708, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,141 sq ft

    Listed with Setai Realty, LLC.
23. $12,950,000 : 50 S Pointe Dr, Unit 703, Miami Beach
    
    2 beds, 2 full baths

    Size: n/a

    Listed with World Realty of South Florida
24. $2,300,000 : 101 20 St, Unit 2406, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,316 sq ft

    Listed with Setai Realty, LLC.
25. $1,325,000 : 300 S Pointe Dr, Unit 1504, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 2,040 sq ft

    Listed with Heritage Real Estate , LLC
26. $1,650,000 : 50 S Pointe Dr, Unit 1205, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,698 sq ft

    Listed with Continuum South Beach Realty
27. $1,450,000 : 50 S Pointe Dr, Unit 602, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,266 sq ft

    Listed with Continuum South Beach Realty
28. $2,300,000 : 400 Alton Rd, Unit 2204, Miami Beach
    
    3 beds, 3 full, 1 part baths

    Size: 2,974 sq ft

    Listed with One Sotheby's Int'l Realty
29. $1,149,000 : 101 20 St, Unit 2803, Miami Beach
    
    1 beds, 1 full, 1 part baths

    Size: 767 sq ft

    Listed with Setai Realty, LLC.
30. $2,684,000 : 50 S Pointe Dr, Unit 2002, Miami Beach
    
    3 beds, 3 full baths

    Size: 1,977 sq ft

    Listed with Continuum South Beach Realty
31. $1,800,000 : 1000 S Pointe Dr, Unit 1508, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,791 sq ft

    Listed with South Bay Realty Group, LLC
32. $5,899,000 : 101 20 St, Unit 2308, Miami Beach
    
    3 beds, 3 full baths

    Size: 2,558 sq ft

    Listed with Setai Realty, LLC.
33. $1,190,000 : 101 20 St, Unit 2503, Miami Beach
    
    1 beds, 1 full bath

    Size: 767 sq ft

    Listed with Setai Realty, LLC.
34. $2,150,000 : 50 S Pointe Dr, Unit 3503, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,894 sq ft

    Listed with Continuum South Beach Realty
35. $1,499,900 : 90 Alton Rd, Unit PH3209, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,490 sq ft

    Listed with DMT Real Estate Services
36. $2,500,000 : 2201 Collins, Unit 1722, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,151 sq ft

    Listed with Great Properties International
37. $1,100,000 : 50 S Pointe Dr, Unit 611, Miami Beach
    
    1 beds, 1 full, 1 part baths

    Size: 992 sq ft

    Listed with Continuum South Beach Realty
38. $1,678,000 : 50 S Pointe Dr, Unit 2604, Miami Beach
    
    1 beds, 1 full, 1 part baths

    Size: 1,554 sq ft

    Listed with Continuum South Beach Realty
39. $1,814,000 : 50 S Pointe Dr, Unit 1904, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,486 sq ft

    Listed with Continuum South Beach Realty
40. $1,754,000 : 50 S Pointe Dr, Unit LOFT 3, Miami Beach
    
    2 beds, 1 full, 1 part baths

    Size: 1,667 sq ft

    Listed with Continuum South Beach Realty
41. $1,445,000 : 50 S Pointe Dr, Unit LOFT 7, Miami Beach
    
    2 beds, 3 full baths

    Size: 1,680 sq ft

    Listed with Continuum South Beach Realty
42. $4,267,000 : 50 S Pointe Dr, Unit TWN5, Miami Beach
    
    4 beds, 4 full, 1 part baths

    Size: 2,901 sq ft

    Listed with Continuum South Beach Realty
43. $2,005,000 : 50 S Pointe Dr, Unit 1906, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,698 sq ft

    Listed with Continuum South Beach Realty
44. $4,534,000 : 50 S Pointe Dr, Unit 2602, Miami Beach
    
    4 beds, 4 full, 1 part baths

    Size: 3,017 sq ft

    Listed with Continuum South Beach Realty
45. $4,800,000 : 50 S Pointe Dr, Unit 2601, Miami Beach
    
    4 beds, 4 full, 1 part baths

    Size: 3,017 sq ft

    Listed with Continuum South Beach Realty
46. $13,515,000 : 50 S Pointe Dr, Unit PH 2, Miami Beach
    
    5 beds, 5 full, 1 part baths

    Size: 6,963 sq ft

    Listed with Continuum South Beach Realty
47. $1,895,000 : 450 Alton Rd, Unit LPH 02, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,933 sq ft

    Listed with Fredrick Realty, Inc
48. $1,350,000 : 101 20 St, Unit 2105, Miami Beach
    
    1 beds, 1 full bath

    Size: 821 sq ft

    Listed with The Reznik Group, Inc.
49. $2,450,000 : 101 20 St, Unit 2206, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,316 sq ft

    Listed with Setai Realty, LLC.
50. $2,950,000 : 101 20 St, Unit 3603, Miami Beach
    
    3 beds, 3 full baths

    Size: 1,743 sq ft

    Listed with Esslinger-Wooten-Maxwell Inc Coconut Grove Office

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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**

Showing properties 1 - 50 of 104. See more 33139 zip code real estate.
(all data current as of 7/30/2010)

1. $1,890,000 : 450 Alton Rd, Unit 2603, Miami Beach
   
   3 beds, 3 full baths

   Size: 2,158 sq ft

   Listed with One Sotheby's Int'l Realty
2. $550,000 : 1200 West Ave, Unit 1526, Miami Beach
   
   2 beds, 2 full baths

   Size: 1,226 sq ft

   Listed with Esslinger-Wooten-Maxwell Inc Coconut Grove Office
3. $4,500,000 : 50 S Pointe Dr, Unit 2201, Miami Beach
   
   4 beds, 4 full, 1 part baths

   Size: 3,017 sq ft

   Listed with Continuum South Beach Realty
4. $1,799,000 : 101 20 St, Unit 2702, Miami Beach
   
   2 beds, 2 full baths

   Size: 1,213 sq ft

   Listed with Setai Realty, LLC.
5. $1,595,000 : 50 S Pointe Dr, Unit 1206, Miami Beach
   
   2 beds, 2 full, 1 part baths

   Size: 1,698 sq ft

   Listed with Continuum South Beach Realty
6. $1,600,000 : 101 20 St, Unit 2302, Miami Beach
   
   2 beds, 2 full baths

   Size: 1,213 sq ft

   Listed with One Sotheby's Int'l Realty
7. $1,725,000 : 101 20 St, Unit 2301, Miami Beach
   
   2 beds, 2 full baths

   Size: 1,198 sq ft

   Listed with One Sotheby's Int'l Realty
8. $17,000,000 : 50 S Pointe Dr, Unit PH 1, Miami Beach
   
   5 beds, 5 full, 1 part baths

   Size: 6,360 sq ft

   Listed with Continuum South Beach Realty
9. $699,000 : 400 Alton Rd, Unit 2509, Miami Beach
   
   2 beds, 2 full baths

   Size: 1,437 sq ft

   Listed with Weichert Realtors Int'l. Group
10. $549,000 : 1700 Meridian Av, Unit 202, Miami Beach
    
    1 beds, 2 full baths

    Size: 995 sq ft

    Listed with The Keyes Company 2
11. $4,431,000 : 50 S Pointe Dr, Unit 2502, Miami Beach
    
    4 beds, 4 full, 1 part baths

    Size: 3,017 sq ft

    Listed with Continuum South Beach Realty
12. $4,390,000 : 50 S Pointe Dr, Unit 2802, Miami Beach
    
    3 beds, 3 full, 1 part baths

    Size: 2,621 sq ft

    Listed with Continuum South Beach Realty
13. $1,980,000 : 101 20 St, Unit 3804, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,141 sq ft

    Listed with World Class Realty
14. $525,000 : 90 Alton Rd, Unit 2201, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,130 sq ft

    Listed with Continental II Realty Inc
15. $850,000 : 450 Alton Rd, Unit 2806, Miami
    
    2 beds, 2 full baths

    Size: 1,452 sq ft

    Listed with Brosda & Bentley Realtors, LLC
16. $799,000 : 400 Alton Rd, Unit 1511, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,649 sq ft

    Listed with Net Real Estate INC.
17. $799,000 : 400 S Pointe Dr, Unit 1602, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,169 sq ft

    Listed with Esslinger Wooten Maxwell Inc
18. $515,000 : 90 Alton Rd, Unit TH-3, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,410 sq ft

    Listed with Weichert Realtors Int'l. Group
19. $695,000 : 101 Ocean Drive, Unit 711, Miami Beach
    
    1 beds, 1 full bath

    Size: n/a

    Listed with Grand Realty of America, Corp.
20. $2,700,000 : 50 S Pointe Dr, Unit 1002, Miami Beach
    
    3 beds, 3 full baths

    Size: 1,977 sq ft

    Listed with Continuum South Beach Realty
21. $1,395,000 : 50 S Pointe Dr, Unit 1704, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,491 sq ft

    Listed with Continuum South Beach Realty
22. $1,375,000 : 50 S Pointe Dr, Unit 803, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,491 sq ft

    Listed with Continuum South Beach Realty
23. $875,000 : 50 S Pointe Dr, Unit 506, Miami Beach
    
    1 beds, 1 full bath

    Size: 640 sq ft

    Listed with Continuum South Beach Realty
24. $1,899,000 : 101 20 St, Unit 2801, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,198 sq ft

    Listed with Setai Realty, LLC.
25. $680,000 : 450 Alton Rd, Unit 1506, Miami
    
    2 beds, 2 full baths

    Size: 1,452 sq ft

    Listed with Florida Realty of Miami, Corp
26. $1,890,000 : 100 S Pointe Dr, Unit 1905, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,869 sq ft

    Listed with Continuum South Beach Realty
27. $1,075,000 : 450 Alton Rd, Unit 1205, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,750 sq ft

    Listed with Miami Investment Brokers, Inc.
28. $1,278,000 : 1900 Sunset Harbour Dr, Unit 2108, Miami Beach
    
    3 beds, 2 full baths

    Size: 1,550 sq ft

    Listed with Beachfront Realty Inc
29. $665,000 : 1000 Venetian Wy, Unit 406, Miami
    
    2 beds, 2 full baths

    Size: 1,430 sq ft

    Listed with Better Homes & Gdns RE Fla 1st Fort Lauderdale
30. $2,490,000 : 50 S Pointe Dr, Unit 2403, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,992 sq ft

    Listed with Continuum South Beach Realty
31. $740,000 : 90 Alton Rd, Unit 1010, Miami Beach
    
    2 beds, 2 full baths

    Size: n/a

    Listed with Beachfront Realty Inc
32. $685,000 : 1330 West Av, Unit 3011, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,084 sq ft

    Listed with Miami Riches
33. $674,900 : 1000 Venetian Wy, Unit 708, Miami
    
    2 beds, 2 full baths

    Size: 1,370 sq ft

    Listed with Beachfront Realty Inc
34. $879,950 : 221 Jefferson Av, Unit 7, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,241 sq ft

    Listed with BSB Realty Services, Inc.
35. $2,048,000 : 50 S Pointe Dr, Unit 2005, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,698 sq ft

    Listed with Continuum South Beach Realty
36. $1,299,000 : 100 S Pointe Dr, Unit 2401, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,591 sq ft

    Listed with Beachfront Realty Inc
37. $2,490,000 : 100 S Pointe Dr, Unit 2005, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,869 sq ft

    Listed with Westpark Realty of Broward Inc
38. $2,375,000 : 101 20 St, Unit 2708, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,141 sq ft

    Listed with Setai Realty, LLC.
39. $12,950,000 : 50 S Pointe Dr, Unit 703, Miami Beach
    
    2 beds, 2 full baths

    Size: n/a

    Listed with World Realty of South Florida
40. $2,300,000 : 101 20 St, Unit 2406, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,316 sq ft

    Listed with Setai Realty, LLC.
41. $1,325,000 : 300 S Pointe Dr, Unit 1504, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 2,040 sq ft

    Listed with Heritage Real Estate , LLC
42. $650,000 : 450 Alton Rd, Unit 2208, Miami Beach
    
    1 beds, 1 full, 1 part baths

    Size: 851 sq ft

    Listed with Professionecasa Prestige Intl.
43. $1,650,000 : 50 S Pointe Dr, Unit 1205, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,698 sq ft

    Listed with Continuum South Beach Realty
44. $1,450,000 : 50 S Pointe Dr, Unit 602, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,266 sq ft

    Listed with Continuum South Beach Realty
45. $590,000 : MLS # F1066231 in Miami
    
    2 beds, 2 full baths

    Size: 1,400 sq ft

    Listed with Florida Elite Homes Inc.
46. $850,000 : 400 S Pointe Dr, Unit 1101, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,165 sq ft

    Listed with Select Properties of America
47. $875,000 : 400 S Pointe Dr, Unit 1501, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,165 sq ft

    Listed with Miami Investment Brokers, Inc.
48. $649,000 : 208 Jefferson Av, Unit 115, Miami Beach
    
    3 beds, 3 full baths

    Size: 1,520 sq ft

    Listed with Bertrand Realty Group, LLC
49. $2,300,000 : 400 Alton Rd, Unit 2204, Miami Beach
    
    3 beds, 3 full, 1 part baths

    Size: 2,974 sq ft

    Listed with One Sotheby's Int'l Realty
50. $1,149,000 : 101 20 St, Unit 2803, Miami Beach
    
    1 beds, 1 full, 1 part baths

    Size: 767 sq ft

    Listed with Setai Realty, LLC.

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Fisher Island Condo Sales in April 2010

There are currently 119 Fisher Island Condos for sale: (7 less than last month)

• Highest priced listing: $30,000,000 for an exclusive Oceanside 5/5.5 home with artwork and all!
• Lowest priced listing: $190,000 for a studio at Marina Village
• Pending Sales: 8 (same as previous month)
• Closed sales in April : 2 (2 less than last month)

The 2 Fisher Island condo sales in the month of April were the following:

• Seaside Village – 19145 Fisher Island Dr – listed for $2,399,000 and selling for $2,100,000 (The seller had bought this Seaside Village hotel unit for $2,375,000 in May of 05 and listed it for $2.8M in November of 09, suffering a small loss after 5 years)
• Bayside Village – 2012 Fisher Island Dr – listed for $699,000 and selling for $680,000 (the owners of this unit bought in 2004 for $699,000 and listed it on and off since 2007, with a starting price of $1,800,000)

There have been 11 Fisher Island Condo sales in the first 4 months of the year compared to the 32 sales in 2009 and 25 sales in 2008.  I was asked if the Fisher Island real estate market is suffering like the rest of the South Florida Real Estate Market.  The answer, in my opinion, is yes and no.  We saw Fisher Island drop in rank from first in Forbes Most Expensive Zip Codes to thirty-something in just one year.  We started seeing distressed sales in this exclusive island, and we started seeing speculators getting hit as well as multiple property owners.

But the real truth is that Fisher Island, mostly as a vacation spot, secluded get-away and second home, affords its owners a little loss without it really hurting the pocket.  We see sellers loosing a couple of hundred thousand dollars and they don’t necessarily have to short sale and can walk away without pain.  Those that really need to sell, will drop their guard, others will just wait for the right buyer.

Showing properties 1 - 9 of 9. See more 33109 zip code real estate.
(all data current as of 7/30/2010)

1. $1,300,000 : 2421 Fisher Island Dr, Unit 5201, Fisher Island
   
   3 beds, 3 full baths

   Size: 2,652 sq ft

   Listed with Esslinger Wooten Maxwell Inc
2. $895,000 : 15412 Fisher Island Dr, Unit 15412, Fisher Island
   
   1 beds, 1 full bath

   Size: 690 sq ft

   Listed with Coral Shores Realty Inc
3. $12,900,000 : MLS # F1077547 in Miami Beach
   
   6 beds, 5 full, 1 part baths

   Size: 7,025 sq ft

   Listed with MC International Realty, LLC
4. $1,275,000 : 4933 Fisher Island Dr, Unit 4933, Fisher Island
   
   2 beds, 2 full, 1 part baths

   Size: 1,950 sq ft

   Listed with Premier Properties Intl Group
5. $229,000 : 42308 Fisher Island Dr, Unit 42308, Fisher Island
   
   1 beds, 1 full bath

   Size: 470 sq ft

   Listed with Esslinger-Wooten-Maxwell Inc
6. $4,500,000 : MLS # D1383172 in Miami Beach
   
   4 beds, 4 full baths

   Size: n/a

   Listed with Ocean First Realty
7. $2,775,000 : 7946 Fisher Island Dr, Unit 7946, Fisher Island
   
   2 beds, 2 full baths

   Size: 2,630 sq ft

   Listed with Greater Miami Investments, Inc
8. $3,700,000 : 7100 Fisher Island Dr, Unit 7121, Fisher Island
   
   4 beds, 4 full baths

   Size: 3,690 sq ft

   Listed with Ocean Vista Properties Inc.
9. $5,559,000 : MLS # F1031802 in Miami
   
   4 beds, 5 full, 1 part baths

   Size: n/a

   Listed with Seaside Properties Group, Inc.

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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?

Showing properties 1 - 50 of 104. See more 33139 zip code real estate.
(all data current as of 7/30/2010)

1. $1,890,000 : 450 Alton Rd, Unit 2603, Miami Beach
   
   3 beds, 3 full baths

   Size: 2,158 sq ft

   Listed with One Sotheby's Int'l Realty
2. $550,000 : 1200 West Ave, Unit 1526, Miami Beach
   
   2 beds, 2 full baths

   Size: 1,226 sq ft

   Listed with Esslinger-Wooten-Maxwell Inc Coconut Grove Office
3. $4,500,000 : 50 S Pointe Dr, Unit 2201, Miami Beach
   
   4 beds, 4 full, 1 part baths

   Size: 3,017 sq ft

   Listed with Continuum South Beach Realty
4. $1,799,000 : 101 20 St, Unit 2702, Miami Beach
   
   2 beds, 2 full baths

   Size: 1,213 sq ft

   Listed with Setai Realty, LLC.
5. $1,595,000 : 50 S Pointe Dr, Unit 1206, Miami Beach
   
   2 beds, 2 full, 1 part baths

   Size: 1,698 sq ft

   Listed with Continuum South Beach Realty
6. $1,600,000 : 101 20 St, Unit 2302, Miami Beach
   
   2 beds, 2 full baths

   Size: 1,213 sq ft

   Listed with One Sotheby's Int'l Realty
7. $1,725,000 : 101 20 St, Unit 2301, Miami Beach
   
   2 beds, 2 full baths

   Size: 1,198 sq ft

   Listed with One Sotheby's Int'l Realty
8. $17,000,000 : 50 S Pointe Dr, Unit PH 1, Miami Beach
   
   5 beds, 5 full, 1 part baths

   Size: 6,360 sq ft

   Listed with Continuum South Beach Realty
9. $699,000 : 400 Alton Rd, Unit 2509, Miami Beach
   
   2 beds, 2 full baths

   Size: 1,437 sq ft

   Listed with Weichert Realtors Int'l. Group
10. $549,000 : 1700 Meridian Av, Unit 202, Miami Beach
    
    1 beds, 2 full baths

    Size: 995 sq ft

    Listed with The Keyes Company 2
11. $4,431,000 : 50 S Pointe Dr, Unit 2502, Miami Beach
    
    4 beds, 4 full, 1 part baths

    Size: 3,017 sq ft

    Listed with Continuum South Beach Realty
12. $4,390,000 : 50 S Pointe Dr, Unit 2802, Miami Beach
    
    3 beds, 3 full, 1 part baths

    Size: 2,621 sq ft

    Listed with Continuum South Beach Realty
13. $1,980,000 : 101 20 St, Unit 3804, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,141 sq ft

    Listed with World Class Realty
14. $525,000 : 90 Alton Rd, Unit 2201, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,130 sq ft

    Listed with Continental II Realty Inc
15. $850,000 : 450 Alton Rd, Unit 2806, Miami
    
    2 beds, 2 full baths

    Size: 1,452 sq ft

    Listed with Brosda & Bentley Realtors, LLC
16. $799,000 : 400 Alton Rd, Unit 1511, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,649 sq ft

    Listed with Net Real Estate INC.
17. $799,000 : 400 S Pointe Dr, Unit 1602, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,169 sq ft

    Listed with Esslinger Wooten Maxwell Inc
18. $515,000 : 90 Alton Rd, Unit TH-3, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,410 sq ft

    Listed with Weichert Realtors Int'l. Group
19. $695,000 : 101 Ocean Drive, Unit 711, Miami Beach
    
    1 beds, 1 full bath

    Size: n/a

    Listed with Grand Realty of America, Corp.
20. $2,700,000 : 50 S Pointe Dr, Unit 1002, Miami Beach
    
    3 beds, 3 full baths

    Size: 1,977 sq ft

    Listed with Continuum South Beach Realty
21. $1,395,000 : 50 S Pointe Dr, Unit 1704, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,491 sq ft

    Listed with Continuum South Beach Realty
22. $1,375,000 : 50 S Pointe Dr, Unit 803, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,491 sq ft

    Listed with Continuum South Beach Realty
23. $875,000 : 50 S Pointe Dr, Unit 506, Miami Beach
    
    1 beds, 1 full bath

    Size: 640 sq ft

    Listed with Continuum South Beach Realty
24. $1,899,000 : 101 20 St, Unit 2801, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,198 sq ft

    Listed with Setai Realty, LLC.
25. $680,000 : 450 Alton Rd, Unit 1506, Miami
    
    2 beds, 2 full baths

    Size: 1,452 sq ft

    Listed with Florida Realty of Miami, Corp
26. $1,890,000 : 100 S Pointe Dr, Unit 1905, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,869 sq ft

    Listed with Continuum South Beach Realty
27. $1,075,000 : 450 Alton Rd, Unit 1205, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,750 sq ft

    Listed with Miami Investment Brokers, Inc.
28. $1,278,000 : 1900 Sunset Harbour Dr, Unit 2108, Miami Beach
    
    3 beds, 2 full baths

    Size: 1,550 sq ft

    Listed with Beachfront Realty Inc
29. $665,000 : 1000 Venetian Wy, Unit 406, Miami
    
    2 beds, 2 full baths

    Size: 1,430 sq ft

    Listed with Better Homes & Gdns RE Fla 1st Fort Lauderdale
30. $2,490,000 : 50 S Pointe Dr, Unit 2403, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,992 sq ft

    Listed with Continuum South Beach Realty
31. $740,000 : 90 Alton Rd, Unit 1010, Miami Beach
    
    2 beds, 2 full baths

    Size: n/a

    Listed with Beachfront Realty Inc
32. $685,000 : 1330 West Av, Unit 3011, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,084 sq ft

    Listed with Miami Riches
33. $674,900 : 1000 Venetian Wy, Unit 708, Miami
    
    2 beds, 2 full baths

    Size: 1,370 sq ft

    Listed with Beachfront Realty Inc
34. $879,950 : 221 Jefferson Av, Unit 7, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,241 sq ft

    Listed with BSB Realty Services, Inc.
35. $2,048,000 : 50 S Pointe Dr, Unit 2005, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,698 sq ft

    Listed with Continuum South Beach Realty
36. $1,299,000 : 100 S Pointe Dr, Unit 2401, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,591 sq ft

    Listed with Beachfront Realty Inc
37. $2,490,000 : 100 S Pointe Dr, Unit 2005, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,869 sq ft

    Listed with Westpark Realty of Broward Inc
38. $2,375,000 : 101 20 St, Unit 2708, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,141 sq ft

    Listed with Setai Realty, LLC.
39. $12,950,000 : 50 S Pointe Dr, Unit 703, Miami Beach
    
    2 beds, 2 full baths

    Size: n/a

    Listed with World Realty of South Florida
40. $2,300,000 : 101 20 St, Unit 2406, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,316 sq ft

    Listed with Setai Realty, LLC.
41. $1,325,000 : 300 S Pointe Dr, Unit 1504, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 2,040 sq ft

    Listed with Heritage Real Estate , LLC
42. $650,000 : 450 Alton Rd, Unit 2208, Miami Beach
    
    1 beds, 1 full, 1 part baths

    Size: 851 sq ft

    Listed with Professionecasa Prestige Intl.
43. $1,650,000 : 50 S Pointe Dr, Unit 1205, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,698 sq ft

    Listed with Continuum South Beach Realty
44. $1,450,000 : 50 S Pointe Dr, Unit 602, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,266 sq ft

    Listed with Continuum South Beach Realty
45. $590,000 : MLS # F1066231 in Miami
    
    2 beds, 2 full baths

    Size: 1,400 sq ft

    Listed with Florida Elite Homes Inc.
46. $850,000 : 400 S Pointe Dr, Unit 1101, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,165 sq ft

    Listed with Select Properties of America
47. $875,000 : 400 S Pointe Dr, Unit 1501, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,165 sq ft

    Listed with Miami Investment Brokers, Inc.
48. $649,000 : 208 Jefferson Av, Unit 115, Miami Beach
    
    3 beds, 3 full baths

    Size: 1,520 sq ft

    Listed with Bertrand Realty Group, LLC
49. $2,300,000 : 400 Alton Rd, Unit 2204, Miami Beach
    
    3 beds, 3 full, 1 part baths

    Size: 2,974 sq ft

    Listed with One Sotheby's Int'l Realty
50. $1,149,000 : 101 20 St, Unit 2803, Miami Beach
    
    1 beds, 1 full, 1 part baths

    Size: 767 sq ft

    Listed with Setai Realty, LLC.

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Miamism in Forbes – Miami Beach best city to quit renting a buy a home

Forbes recently reached out to us to learn how renting compares with buying in the Miami Beach luxury real estate market.  A question often asked by investors looking to buy a Miami Beach home or condo and an answer that is studied regularly and in depth by our in-house accountant and numbers specialist, Rick Garcia.

Best Cities to Rent And Own – was aimed at learning how numbers add up in 10 big U.S. cities and although we are not going in depth about the rest of the country, this is what Forbes has to say after Miamism’s research:

Is it smarter in your town to buy or rent? In markets where homes cost more than around 18 times annual rents, it’s smarter to lease. To gauge the economics of buying vs. renting in upscale areas of 10 big cities, we developed the Forbes Luxury Residence Rental Index, or Flurry. Data is provided by local agents specializing in high-end rentals. We will update the figures periodically, courtesy of data provided by Zillow.com.

Neighborhoods: Miami Beach, Coral Gables, Pinecrest

Average rent: $12,760 per month

Average fair-market value: $2.8 million

Conclusion: Prices are down but still 19 times annual rents. Advantage tenants.

For beleaguered Miami the news is mixed. Hardest hit of all the big housing markets in the U.S., logic would have it that Miami is a buyer’s paradise. In truth, it’s often cushier to be a renter there. Condo investors have dumped their homes onto the rental market, creating a glut. That has constrained the supply of for-sale homes, and the cost of buying a luxury home in Miami Beach can still top 20 times annual rent. In other cases, rents remain stubbornly high. The two agents we’re working with in Miami each report that some homes can be purchased for as little as 12 times annual rent–a bummer if you’re renting.

For those of you that keep calling us expecting a 15% cap rate on your investment – think again!!! Bottom line is that the rental market is saturated and you do run the risk of having a vacant investment.

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**

Showing properties 1 - 25 of 67. See more city of Miami Beach real estate.
(all data current as of 7/30/2010)

1. $17,000,000 : 50 S Pointe Dr, Unit PH 1, Miami Beach
   
   5 beds, 5 full, 1 part baths

   Size: 6,360 sq ft

   Listed with Continuum South Beach Realty
2. $13,515,000 : 50 S Pointe Dr, Unit PH 2, Miami Beach
   
   5 beds, 5 full, 1 part baths

   Size: 6,963 sq ft

   Listed with Continuum South Beach Realty
3. $12,950,000 : 50 S Pointe Dr, Unit 703, Miami Beach
   
   2 beds, 2 full baths

   Size: n/a

   Listed with World Realty of South Florida
4. $12,900,000 : MLS # F1077547 in Miami Beach
   
   6 beds, 5 full, 1 part baths

   Size: 7,025 sq ft

   Listed with MC International Realty, LLC
5. $5,899,000 : 101 20 St, Unit 2308, Miami Beach
   
   3 beds, 3 full baths

   Size: 2,558 sq ft

   Listed with Setai Realty, LLC.
6. $4,800,000 : 50 S Pointe Dr, Unit 2601, Miami Beach
   
   4 beds, 4 full, 1 part baths

   Size: 3,017 sq ft

   Listed with Continuum South Beach Realty
7. $4,534,000 : 50 S Pointe Dr, Unit 2602, Miami Beach
   
   4 beds, 4 full, 1 part baths

   Size: 3,017 sq ft

   Listed with Continuum South Beach Realty
8. $4,500,000 : 50 S Pointe Dr, Unit 2201, Miami Beach
   
   4 beds, 4 full, 1 part baths

   Size: 3,017 sq ft

   Listed with Continuum South Beach Realty
9. $4,431,000 : 50 S Pointe Dr, Unit 2502, Miami Beach
   
   4 beds, 4 full, 1 part baths

   Size: 3,017 sq ft

   Listed with Continuum South Beach Realty
10. $4,390,000 : 50 S Pointe Dr, Unit 2802, Miami Beach
    
    3 beds, 3 full, 1 part baths

    Size: 2,621 sq ft

    Listed with Continuum South Beach Realty
11. $4,267,000 : 50 S Pointe Dr, Unit TWN5, Miami Beach
    
    4 beds, 4 full, 1 part baths

    Size: 2,901 sq ft

    Listed with Continuum South Beach Realty
12. $2,950,000 : 101 20 St, Unit 3603, Miami Beach
    
    3 beds, 3 full baths

    Size: 1,743 sq ft

    Listed with Esslinger-Wooten-Maxwell Inc Coconut Grove Office
13. $2,700,000 : 50 S Pointe Dr, Unit 1002, Miami Beach
    
    3 beds, 3 full baths

    Size: 1,977 sq ft

    Listed with Continuum South Beach Realty
14. $2,700,000 : 3801 Collins Av, Unit 1603, Miami Beach
    
    3 beds, 3 full, 1 part baths

    Size: 2,542 sq ft

    Listed with First Realty of Miami,LLC.
15. $2,684,000 : 50 S Pointe Dr, Unit 2002, Miami Beach
    
    3 beds, 3 full baths

    Size: 1,977 sq ft

    Listed with Continuum South Beach Realty
16. $2,500,000 : 2201 Collins, Unit 1722, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,151 sq ft

    Listed with Great Properties International
17. $2,490,000 : 50 S Pointe Dr, Unit 2403, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,992 sq ft

    Listed with Continuum South Beach Realty
18. $2,490,000 : 100 S Pointe Dr, Unit 2005, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,869 sq ft

    Listed with Westpark Realty of Broward Inc
19. $2,450,000 : 101 20 St, Unit 2206, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,316 sq ft

    Listed with Setai Realty, LLC.
20. $2,375,000 : 101 20 St, Unit 2708, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,141 sq ft

    Listed with Setai Realty, LLC.
21. $2,300,000 : 400 Alton Rd, Unit 2204, Miami Beach
    
    3 beds, 3 full, 1 part baths

    Size: 2,974 sq ft

    Listed with One Sotheby's Int'l Realty
22. $2,300,000 : 101 20 St, Unit 2406, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,316 sq ft

    Listed with Setai Realty, LLC.
23. $2,150,000 : 50 S Pointe Dr, Unit 3503, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,894 sq ft

    Listed with Continuum South Beach Realty
24. $2,100,000 : 101 20 St, Unit 3504, Miami Beach
    
    2 beds, 2 full baths

    Size: 1,141 sq ft

    Listed with Setai Realty, LLC.
25. $2,048,000 : 50 S Pointe Dr, Unit 2005, Miami Beach
    
    2 beds, 2 full, 1 part baths

    Size: 1,698 sq ft

    Listed with Continuum South Beach Realty

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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

Fisher Island Real Estate Market Reports – November 2009

There are currently 139 listings in Fisher Island: (same as last month)

* Highest priced listing: $30,000,000 for an exclusive Oceanside 5/5.5 home with artwork and all!
* Lowest priced listing: $190,000 for a studio at Marina Village
* Pending Sales: 3 (same as last month)
* Closed sales in November: 2 (2 less than last month)

Fisher Island Real Estate’s November closings were the following:

* Oceanside at Fisher Island – 7222 Fisher Island Drive – listed at $4,200,000 and selling at $3,200,000 (originally listed for $6,000,000 in December of 2006, then $5,490,000 in February 2008 and selling at almost 50% of original price – OUCH!)
* Bayview at Fisher Island – 4924 Fisher Island Drive – listed at $1,495,000 and selling at $1,275,000 (this unit had been originally priced in November 2005 for $3,050,000, taken off the market and relisted in April of 2009 for $1,495,000) – glad to see the sellers came to their senses.

The great thing about buying at Fisher Island is the fact that so many are vacation homes or 2nd or 3rd homes. When sellers are ready to sell, they usually will do so quickly, so make offers….you will be surprised what gets accepted now in the island for those that want out.

ONE Bal Harbour Condos, Resort and Spa

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:

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.”

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