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 – 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**

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**

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?

Miami Beach Luxury Real Estate Pick – Apogee South Beach

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

Apogee #1104 – 800 S Pointe Drive – Miami Beach

Listed for $6,800,000

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

Features include:

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

About Apogee

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

Residence

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Miami Beach Luxury Real Estate – St. Regis Resort & Residences – Bal Harbour

In the middle of what many are calling a Miami housing slump, there are on-going developments like The St. Regis Resort & Residences in Bal Harbour. Total luxury, the best amenities, and a perfect location for your vacation getaway, indulging lifestyle and elegant living.

Experience the future of Legendary Luxury. St. Regis Resort & Residences, Bal Harbour is a peerless haven of oceanfront elegance; quiet, unwavering taste; and anticipatory service.

Legendary Luxury

St. Regis Resort & Residences, Bal Harbour is a medley of personalized service, exquisite design and unmatched amenities that create a lifestyle like no other on Florida’s Gold Coast. Just steps away from the famous Bal Harbour Shops and minutes from the whirlwind energy and Art Deco magic of South Beach, St. Regis Resort & Residences, Bal Harbour is a world of compelling amenities and impeccable standards.

This Miami Beach Luxury Real Estate project is currently under construction and the site is where the known Sheraton Bal Harbour that attracted people from all over the world because of its magnificent beaches, once stood – 9 acres of stunning oceanfront property. I feel a bit nostalgic about this project because of the fond memories I have at The Sheraton, but know The St. Regis will do those memories more than justice. Also good for you to know that the project is self-financed by Starwood Hotels & Resorts Worldwide, Inc. and The Related Group, which makes the estimated completion date of “end of 2010″, very believable. The location is 9701 Collins Avenue, Florida 33154.

The pricing is high, no questions about it. According to a St. Regis’ sales representative it is 2-3 times what everybody else is, but justified by the land, amenities and because it is a “trophy property”. The average price per square foot is $1650 – properties range between $2,000,000 and $11,000,000 and the best sellers are the biggest and most expensive units. Maintenance fees will range between $1.05 to $1.15 per square foot.

Because it is under construction, I wasn’t able to give you my eagle-eye critique on finishes but the fact is that this project architects are Sieger Suarez Architects, and interior design done by Yabu Pushelberg, the same ones that designed Apogee in South Beach. There is a sales office where you can see sample finishes, including kitchen, bath and living room (pictured above).

St. Regis Residences

• extraordinary one, two and three-bedroom private residences
• Panoramic windows offer expansive ocean and bay views
• spacious outdoor balcony “living rooms” invite easy relaxation and carefree entertaining
• Contemporary five-fixture master bathrooms feature walk-in shower and expansive marble surface treatments throughout
• premium kitchen appliances and European style cabinetry
• pre-wired for state-of-the-art communications and other control systems, including up to four double telephone lines, satellite or cable provider
• 10′ ceiling heights
• Residential pool areas available exclusively to owners and their guests
• dedicated residential porte-cochere and interior lobby custom designed by Yabu Pushelberg

The St. Regis Hotel-Condominium Residences (condo-hotel)

• fully furnished condo-hotel residences will convey the inimitable style of award-winning interior design firm Yabu Pushelberg
• Spacious executive suites, one-bedroom suites and convertible two-bedroom suites
• Breathtaking ocean views
• integrated, self-contained Midnight Kitchenette
• spacious outdoor balcony “living rooms” expand your leisure and entertaining horizons
• State-of-the-art intelligent controls for climate, lighting, window shades, and in-room electronics
• walk-in closets with integrated European wardrobe cabinetry
• Four-fixture bathrooms featuring a walk-in shower with richly finished marble floors, vanities, and walls.
• Digital Video On Command (DVOD)
• Wired and wireless High-Speed Internet Access
• Hands-free telephones
• Personal safes large enough to accommodate a laptop computer
• 10′ ceiling heights
• Owner lock-out closet for secure storage of personal items

Services and Amenities

• Remede Spa
• 24/7 St. Regis Concierge team to assist with all arrangements and requests
• Celebrated St. Regis Butler Service
• 24-hour valet parking
• 24-hourr security
• 24-hour in-room dining service
• Bellman
• Busines services
• Full-time maintenance staff
• Newspaper delivery
• Preferred access and signing priviledges for owners
• Housekeeping
• Pre-arrival provisioning/grocery shopping and delivery
• In-room catering
• Personal chef
• Dry-cleaning and laundry services
• Plant care maintenance
• Overnight shoe shine
• Pet services
• Access to St. Regis events
• Shopping bag pick-up service from Bal Harbour Shops
• Oceanfront cabanas with flat-panel televisions, mini bars, ece makers and Wi-Fi connectivity
• Signature restaurants
• exclusive beach access
• state-of-the-art business center
• executive meeting rooms with integrated audio visual systems
• a Grand Ballroom and premier banquet facilities
• St. Regis Kids’ programming
• Preferred theatre, events, sports tickets
• Courier services
• IT personal support assistance
• Translation services
• Personal security

At the pool & on the beach: services and amenities

• refreshing cool-mist spritzers at the pool and beach
• revitalizing cold towels poolsize
• Gourmet lunch boxes for beach picnics
• Oceanfront cabanas with flat-planel screen televisions, mini bars, ice makers, and WiFi connectivity for laptops
• Pool bar and grill

Around town: services and amenities

• Personal chauffeur and limousine services
• Shopping bag pick-up service from Bal Harbour Shops
• St. Regis Personal Shopping Services and VIP invitations to exclusive trunk shows

Remede Spa

• A haven of pampering indulgences and advanced treaments
• Complete offering of spa treatments including customized facials, massages, body treatments, waxing and nail services based on the exclusive Laboratoire Remede skincare line
• The convenience of in-room treatments
• Steam, sauna and jacuzzi
• Couple’s room
• Vichy shower room
• Deluxe body treatment room

Fitness

• State-of-the-art cardio and strength training equipment
• Certified personal fitness instructors
• Nutritionist services

Dining

• Signature restaurants
• St. Regis signature wine bar
• Pool bar and grill
• 24-hour in-room dining service

NOTE: If you are interested in getting a full-color brochure and additional information sent to you about St. Regis Resort and Residences, Bal Harbor, please e-mail us at info@miamism.com with your name and address and will be happy to make the arrangements (all information will be kept confidential)

*renderings courtesy of St. Regis Resort & Residences – Bal Harbour*

Miami Beach Luxury Real Estate – Capri, South Beach

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

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

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

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

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

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

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

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

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

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

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