Investments

Sunny Isles Beach Luxury Oceanfront Condo Market Index 2Q 2011

by on May.19, 2011, under Buyers of South Florida, Condos and Development, Investments, Seller's of South Florida, Sunny Isles Beach Condos

Edition #7 of the 2011 Sunny Isles Condo Index

We’ll be reviewing the latest  trends and comparing the luxury oceanfront market from the 3Q 2010 Sunny Isles Condo Index to today’s updated 2Q 2011 Sunny Isles Condo Index including premier oceanfront towers such as Turnberry Ocean Colony, Acqualina, JADE Ocean, JADE Beach, Trump Palace, Trump Royale, Ocean Four, Sayan, Trump Towers, Pinnacle & Millennium. I’ve excluded condo hotel properties from this research including  Trump International Beach Resort, Merenas Resort, Ocean Point and Sole on the Ocean.

Sunny Isles Beach Condo Index (2Q 2011)

As of May 19th, we are noting 852 total condos for sale in Sunny Isles Beach down 22% from the July 2010 Condo Index. So far in 2011, there have been 361 total closed sales (Figures are derived from the South Florida Regional Multiple Listing Service May 2011) this year. In the last 90 days, 177 condos have sold averaging $247 per square foot with a 99% Sale to List Price Ratio and 140 days on market. In the same 90 day period of July 14th 2010, there had been 176 condos sold averaging $256 per square foot (Sold values down 4% over July 2010) with a 93% Sale to List Price Ratio and 164 days on market.

What will be analyzed more specifically in this post are luxury oceanfront condo building statistics & new trends for the most desirable luxury towers along the coastline of Sunny Isles Beach.
Percentage Available Inventory, Average List Price & Average Price Per Square Foot for leading luxury condo towers currently listed & Active on the MLS

  • Acqualina- 17885 Collins Avenue | 22 of 247 or 9%| Ave List Price $1.979M | Ave PPSF $862
  • JADE Beach – 17001 Collins Avenue | 32 of 248 or 13% | Ave List Price $1.754M | Ave PPSF $722
  • JADE Ocean (26 Developer units remain) – 17121 Collins Avenue | 16 of 250 or 6% | Ave List Price $1.731M | Ave PPSF $765
  • Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 9 of 130 or 7% | Ave List Price $2.684M | Ave PPSF $857
  • Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 14 of 130 or 11% | Ave List Price $2.787M | Ave PPSF $863
  • Trump Palace – 18101 Collins Avenue | 21 of 275 or 8% | Ave List Price $1.316M | Ave PPSF $638
  • Trump Royale – 18201 Collins Avenue | 18 of 384 or 5%| Ave list Price $1.027M | Ave PPSF $577
  • Trump Tower I – 16001 Collins Avenue | 31 of 271 or 11% | Ave List Price $1.179M | Ave PPSF $527
  • Trump Tower II – 15901 Collins Avenue | 11 of 271 or 4% | Ave List Price $1.188M | Ave PPSF $520
  • Trump Tower III – 15850 Collins Avenue | Developer Inventory Selling
  • Sayan- 16275 Collins Avenue | 12 of 88 or 14% | Ave List Price $1.112M | Ave PPSF $489
  • Ocean Four – 17201 Collins Avenue | 29 of 281 or 10% | Ave List Price $1.006M | Ave PPSF $504
  • Ocean Three – 18911 Collins Avenue | 18 of 215 or 8% | Ave List Price $1.181M | Ave PPSF $458
  • Ocean Two – 19111 Collins Avenue | 11 of 254 or 4% | Ave List Price $1.025M | Ave PPSF $456
  • Ocean One – 19333 Collins Avenue | 12 of 241 or 5% | Ave List Price $886k | Ave PPSF $395
  • Millennium – 18671 Collins Avenue | 2 of 120 or 2% | Ave List Price $1.325M | Ave PPSF $597
  • Pinnacle – 17555 Collins Avenue | 13 of 244 or 5% | Ave List Price $1.037M | Ave PPSF $496
  • La Perla- 16699 Collins Avenue | 21 of 326 or 6% | Ave List Price $676k | Ave PPSF $434

Ave. Price Per Square Foot on Condos SOLD within the last 6 months, Sale Price to List and # Days On Market

  • Acqualina- 17885 Collins Avenue | 17 Closed Sales at $726 PSF (7% increase in PPSF since 3Q 2010) | 93% SP/LP | 145  DOM
  • JADE Beach- 17001 Collins Avenue | 9 Closed Sales at $517 PSF (17% increase in PPSF since 3Q 2010) | 89% SP/LP | 215 DOM
  • JADE Ocean- 17121 Collins Avenue | 3 Closed Sales at $678 PSF | 91% SP/LP | 203 DOM
  • Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 6 Closed Sales at $691 PSF (2% increase in PPSF since 3Q 2010) | 86% SP/LP | 116 DOM
  • Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 4 Closed Sales at $735 PSF (22% increase in PPSF since 3Q 2010) | 86% SP/LP | 122  DOM
  • Trump Palace- 18101 Collins Avenue | 10 Closed Sales at $467 PSF (5% decrease in PPSF since 3Q 2010) | 89% SP/LP | 92 DOM
  • Trump Royale – 18201 Collins Avenue | 5 Closed Sales at $472 PSF (5% decrease in PPSF since 3Q 2010) | 95% SP/LP | 174 DOM
  • Trump Tower I – 16001 Collins Avenue | 2 Closed Sales at $518 PSF (23% increase in PPSF since 3Q 2010) | 95% SP/LP | 92 DOM
  • Trump Tower II – 15901 Collins Avenue | 1 Closed Sales at $379 PSF | 92% SP/LP | 62 DOM
  • Trump Tower III – 15850 Collins Avenue | No Closed MLS Sales
  • Sayan- 16275 Collins Avenue | 2 Closed Sale at $328 PSF | (4% increase in PPSF since 3Q 2010) | 103% SP/LP | 341 DOM
  • Ocean Four – 17201 Collins Avenue | 12 Closed Sales at $385 PSF (5% increase in PPSF since 3Q 2010) | 92% SP/LP | 179 DOM
  • Ocean Three – 18911 Collins Avenue | 8 Closed Sales at $332 PSF (3% decrease in PPSF since 3Q 2010) | 93% SP/LP | 142 DOM
  • Ocean Two – 19111 Collins Avenue | 1 Closed Sales at $309 PSF (26% decrease in PPSF since 3Q 2010) | 92% SP/LP | 136 DOM
  • Ocean One – 19333 Collins Avenue | 6 Closed Sales at $302 PSF (6% decrease in PPSF since 3Q 2010) | 96% SP/LP | 134 DOM
  • Millennium – 18671 Collins Avenue | 2 Closed Sales at $399 PSF (14% decrease in PPSF since 3Q 2010) | 92% SP/LP | 90 DOM
  • Pinnacle – 17555 Collins Avenue | 4 Closed Sales at $425 PSF (22% increase in PPSF since 3Q 2010) | 92% SP/LP | 158 DOM
  • La Perla- 16699 Collins Avenue | 13 Closed Sales at $355 PSF (7% increase in PPSF since 3Q 2010) | 96% SP/LP | 195 DOM

Sunny Isles Beach Condo Index Summary

Sunny Isles Beach condo inventory is down hovering 852 total condos for sale while property values have increased (10% YTD) considerably as International & domestic buyers purchase these 2011 deals. The majority of oceanfront condo towers now have healthy inventory figures as shown above in blue with anything less 15% available for sale. Each building & property tells a different story and the bottom line is this Sunny Isles Beach condo market showing significant signs of improvement on oceanfront real estate. It’s an excellent time to buy Miami Beach real estate as long as you & the family will use it and enjoy it for at least the next few years.

Selling or Leasing Your Condo? Are you trying to sell or lease with no results, communication, market value updates, aggressive global marketing & overall progress in meeting the goal.. Call or email for a personalized market report and global marketing plan surely to gain proper exposure for your condominium. Let’s start today at 1.888.383.7326 or direct 1.305.978.7704.

Buyer’s ready for a great property? Call or email for the very best condo deals along Sunny Isles Beach, Bal Harbour, North Bay Village, Miami Beach & South Beach. The buyer advantage is still selection & leverage but we are consistently seeing multiple cash offers driving up values as we noted the 10% gain over a year ago today. The low-end residential condo market is accelerating with 60% of condo sales under $250k. As this year progresses and inventory continues to decrease, I believe prices will show in favor for continued improvement. If you’d like to receive local Miami Beach FL real estate news via these valuable blog posts, you can easily be notified by RSS feed (see upper right column) or by email each time a new real estate news post occurs. Visit JADE Condos Sunny Isles website & JADE Condo Blog relaying great information on JADE Beach & JADE Ocean along with Turnberry Ocean Colony Sunny Isles website & Ocean Colony Condo Blog for intimate luxury condo knowledge! The truth is in the numbers 1.888.383.7326 and I welcome your knowledge, opinions, comments & feedback.

Showing You the Very Best from Sunny Isles to South Beach!

JADE Beach & JADE Ocean

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The Miami Beach Real Estate RE-Views for March 2011

by on Mar.16, 2011, under Bal Harbour Condos, Buyers of South Florida, Condos and Development, Investments, Miami Beach Condos, North Bay Village Condos, Seller's of South Florida, South Beach Condos, Sunny Isles Beach Condos

The new year, new positive news plus an abundance of new buyers have figures on their way UP and Miami Beach real estate sales are looking stronger than ever. Inventory has fallen as a steady confidence builds along the beaches while news sources such as the Miami Herald, CNBC & Wall Street Journal relay that now is the time to own (if not last year) for the record real estate lows along the Miami Beaches.

Statistics for the month of March reflect 3,580 total condos for sale along the Miami-Dade County oceanfront communities of South BeachMiami BeachBal HarbourNorth Bay Village and Sunny Isles Beach with condo inventory levels down 18% year to date; again this month condo inventory is down a whopping 9% over last with what is now an 13.6 month supply based on the previous 30-day closed sales:

** South Beach Condos1,286 for sale | 108 Sales in last 30 days | Average Days on Market 155 | Average Buyer Discount 6% | Average PPSF Asking $404 / Sold $373
** Miami Beach Condos: 954 for sale | 68 Sales in last 30 days | Average Days on Market 138 | Average Buyer Discount 6% | Average PPSF Asking $244 / Sold $224
** Bal Harbour Condos208 for sale | 9 Sales in last 30 days | Average Days on Market 123 | Average Buyer Discount 6% | Average PPSF Asking $334 / Sold $338
** North Bay Village Condos144 for sale | 19 Sales in last 30 days | Average Days on Market 98 | Average Buyer Discount 1% | Average PPSF Asking $117 / Sold $118
** Sunny Isles Beach Condos988 for sale | 60 Sales in last 30 days | Average Days on Market 143 | Average Buyer Discount 7% | Average PPSF Asking $290 / Sold $262

Miami Beach | Sunny Isles Real Estate Summary

Miami Beach condo inventory continues decreasing month over month, sale-price to list-price ratios have maintained an average 5% buyer discount while active days on market have decreased to ~ 4 months to sell. Each of these indicators prove to be good signs for market improvement. Still I’m watching and beginning to see the selling price per square foot trending upwards depending on the location along the beaches. Sunny Isles Beach selling prices (Ave. per square foot) increased 12% over the prior period while Bal Harbour condo sales decreased 15%.  Over the prior 90 day period, selling price per square foot has decreased an average 2% along the beaches. For the prior month, Miami Beach (REO) Bank Owned foreclosures made up only 3% of our inventory and have sold at 101.6% sale to list while Miami Beach short sales made up 14% of our condo inventory and sold at 94% sale to list. 79% of all closed sales last month were cash transactions! Miami’s weather is perfect and the market shift is noted as trends move in favor of a new balanced market by the end of the year. Many buyers are in to enjoy the warmth (& coolness factor) of Miami Beach luxury condos and to explore what remains to be a vast amount of great opportunity along Miami-Dade County Beaches. For more information on oceanfront locations, luxury buildings or statistics & trends simply write, find me on ‘Live Chat’ or call me toll free at 1.888.383.7326.

February 2011 – Real Estate Statistics for the Miami Beaches

November 2010 – Real Estate Statistics for the Miami Beaches

October 2010 – Real Estate Stats for the Miami Beaches

September 2010 - Real Estate Statistics for the Miami Beaches

June 2010 – Real Estate Statistics for the Miami Beaches

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The Miami Beach Real Estate RE-Views for February 2011

by on Feb.08, 2011, under Bal Harbour Condos, Buyers of South Florida, Condos and Development, Investments, Miami Beach Condos, North Bay Village Condos, South Beach Condos, Sunny Isles Beach Condos

The seasonal slope since December shows figures on their way UP and Miami Beach real estate sales are looking very good. Inventory continues to fall while Pending Sales and Selling price per square foot are up over January 8% and 5% in the neighborhoods of Bal Harbour and Sunny Isles Beach respectively.. A steady confidence builds along the beaches, while news sources such as the Miami Herald & Wall Street Journal relay now is the time to own (if not last year) for the record real estate lows of the Miami Beaches.

Statistics for the month of February reflect 3,928 total condos for sale along the Miami-Dade County oceanfront communities of South BeachMiami BeachBal HarbourNorth Bay Village and Sunny Isles Beach with condo inventory levels down 9% year to date; again this month condo inventory is down 2% over last month with what is now an 18.27 month supply based on the previous 30-day closed sales:

** South Beach Condos1,401 for sale | 81 Sales in last 30 days | Average Days on Market 139 | Average Buyer Discount 5% | Average PPSF Asking $401/Sold $371
** Miami Beach Condos1,044 for sale | 64 Sales in last 30 days | Average Days on Market 136 | Average Buyer Discount 5% | Average PPSF Asking $241/Sold $222
** Bal Harbour Condos217 for sale | 6 Sales in last 30 days | Average Days on Market 124 | Average Buyer Discount 7% | Average PPSF Asking $440/Sold $399
** North Bay Village Condos192 for sale | 15 Sales in last 30 days | Average Days on Market 99 | Average Buyer Discount 2% | Average PPSF Asking $123/Sold $119
** Sunny Isles Beach Condos1,074 for sale | 49 Sales in last 30 days | Average Days on Market 124 | Average Buyer Discount 6% | Average PPSF Asking $249/Sold $231

Miami Beach | Sunny Isles Real Estate Summary

Miami Beach condo inventory has decreased consistently 2-6% each month, sale-price to list-price ratios have reflected an average 4-6% buyer discount while active days on market have decreased to 4.13 months to sell. Each of these indicators prove to be good signs for market improvement. What I’m watching closely this year and beginning to see is the selling price per square foot jumping about depending on the location. Over the prior 90 day period, selling price per square foot has increased an average 3% along the beaches. For the prior month, Miami Beach (REO) Bank Owned foreclosures made up only 3% of our inventory and have sold at 101.58% sale to list while Miami Beach short sales made up 16% of our condo inventory and sold at 94% sale to list. 78% of all closed sales last month were cash transactions! Seasonal demand is huge, Miami’s warm :) and the market shift is noted as trends move in favor of a new balanced market by years end. Many buyers are in to enjoy the warmth (& coolness factor) of Miami Beach luxury condos and to explore what remains to be a vast amount of good opportunities along Miami-Dade County Beaches. For more information on oceanfront locations, luxury buildings or statistics & trends simply write, find me on ‘Live Chat’ or call me toll free at 1.888.383.7326.

November 2010 – Real Estate Statistics for the Miami Beaches

October 2010 – Real Estate Stats for the Miami Beaches

September 2010 - Real Estate Statistics for the Miami Beaches

June 2010 – Real Estate Statistics for the Miami Beaches

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The Miami Beach Real Estate RE-Views for November 2010

by on Nov.01, 2010, under Bal Harbour Condos, Buyers of South Florida, Condos and Development, Investments, Miami Beach Condos, North Bay Village Condos, Seller's of South Florida, South Beach Condos, Sunny Isles Beach Condos

The summer time condo trends have had their ups & downs and Miami Beach real estate sales did slow somewhat over the summer months, while inventory rose then fell back to April 2010 levels. Although a steady confidence builds along the beaches, the month of October again proved it to be a slower month for condo sales…

Statistics for the month reflect 4,356 total condos for sale along the Miami-Dade County oceanfront communities of South BeachMiami BeachBal Harbour, North Bay Village and Sunny Isles Beach with condo inventory levels down 6% year to date; again this month condo inventory is down 2% over last month with what is now a 27 month supply based on the previous 30-day closed sales:

** South Beach Condos1,535 for sale | 56 Sales in last 30 days | Average Days on Market 127 | Average Buyer Discount 6% | Average PPSF Asking $338/Sold $308
** Miami Beach Condos1,219 for sale | 44 Sales in last 30 days | Average Days on Market 155 | Average Buyer Discount 5% | Average PPSF Asking $254/Sold $236
** Bal Harbour Condos237 for sale | 7 Sales in last 30 days | Average Days on Market 184 | Average Buyer Discount 8% | Average PPSF Asking $371/Sold $329
** North Bay Village Condos216 for sale | 8 Sales in last 30 days | Average Days on Market 81 | Average Buyer Discount 2% | Average PPSF Asking $130/Sold $127
** Sunny Isles Beach Condos1,149 for sale | 46 Sales in last 30 days | Average Days on Market 127 | Average Buyer Discount 4% | Average PPSF Asking $243/Sold $227

Miami Beach | Sunny Isles Real Estate Summary

On one side of the coin, Miami Beach condo inventory has been decreasing ~2% each month, sale-price to list-price ratios have been increasing reflecting an average 4% buyer discount while active days on market have decreased to 4.5 months to sell. All of these three indicators are good signs for improvement but on the flipside, I’m also seeing selling price per square foot on the consistent, downward trend. For the prior month, Miami Beach (REO) Bank Owned foreclosures made up only 4% of our inventory and have sold at 101% sale to list while Miami Beach short sales made up 18% of our condo inventory and sold at 96% sale to list. 79% of all closed sales last month were cash transactions! Seasonal demand has been huge and short term luxury rentals available via MLS are almost completely absorbed. Many vacationers will be in for the holidays to enjoy the cool bliss of Miami Beach during winter and to explore the vast opportunity along Miami-Dade County Beaches. For more information on oceanfront locations, luxury buildings or statistics & trends simply write, find me on ‘Live Chat’ or call me toll free at 1.888.383.7326.

October 2010 – Real Estate Stats for the Miami Beaches

September 2010 - Real Estate Statistics for the Miami Beaches

June 2010 – Real Estate Statistics for the Miami Beaches

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Sunny Isles Beach Luxury Oceanfront Condo Market Index 3Q 2010

by on Jul.14, 2010, under Buyers of South Florida, Condos and Development, Investments, Luxury Residential Market, Seller's of South Florida, Sunny Isles Beach Condos

Edition #6 of the 2010 Sunny Isles Condo Index

I’ll be reviewing the latest  trends & comparing the luxury oceanfront market from the 3Q 2009 Sunny Isles Condo Index to today’s updated 3Q 2010 Sunny Isles Condo Index including premier oceanfront towers such as Turnberry Ocean Colony, Acqualina, JADE Ocean, JADE Beach, Trump Palace, Trump Royale, Ocean Four, Sayan, Trump Towers, Pinnacle & Millennium. I’ve excluded condo hotel properties from this research including the Trump International Beach Resort, Merenas Resort, Ocean Point and Sole.

Sunny Isles Beach Condo Index (3Q 2010)

As of July 14th, we are noting 1,089 total condos for sale in Sunny Isles Beach down 15% from the July 2009 Condo Index. So far in 2010, there have been 391 total closed sales (Figures are derived from the South Florida Regional Multiple Listing Service on July 14th, 2010) this year. In the last 90 days, 176 condos have sold averaging $256 per square foot with a 93% Sale to List Price Ratio and 164 days on market. In the same 90 day period of July 14th 2009, there had been 163 condos sold averaging $225 per square foot (Sold values up 12% YTD) with a 90% Sale to List Price Ratio and 168 days on market. What will be analyzed more specifically in this post are luxury oceanfront condo building statistics & new trends for the most desirable luxury towers along the coastline of Sunny Isles Beach.

Percentage Available Inventory, Average List Price & Average Price Per Square Foot for leading luxury condo towers currently listed & Active on the MLS

  • Acqualina- 17875 Collins Avenue | 9 of 247 or 4%| Ave List Price $2.581M | Ave PPSF $832
  • JADE Beach – 17001 Collins Avenue | 40 of 248 or 16%| Ave List Price $1.367M | Ave PPSF $636
  • JADE Ocean – (190 rec. deeds per County records) – 17121 Collins Avenue | 9 of 250 w/Developer units remaining | Ave List Price $1.935M | Ave PPSF $744
  • Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 8 of 130 or 6%| Ave List Price $2.526M | Ave PPSF $812
  • Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 17 of 130 or 13%| Ave List Price $2.3M | Ave PPSF $765
  • Trump Palace – 18101 Collins Avenue | 32 of 275 or 12%| Ave List Price $1.170M | Ave PPSF $595
  • Trump Royale – 18201 Collins Avenue | 20 of 384 or 5%| Ave list Price $1.018M | Ave PPSF $538
  • Trump Tower I- 16001 Collins Avenue | 23 of 271 or 8%| Ave List Price $1.217M | Ave PPSF $524
  • Trump Tower II – 15901 Collins Avenue | 7 of 271 w/Developer units remaining | Ave List Price $1.062M | Ave PPSF $459
  • Trump Tower III – 15850 Collins Avenue | Not Yet Released to Public
  • Sayan- 16275 Collins Avenue | 22 of 88 or 25%| Ave List Price $1.075M | Ave PPSF $538
  • Ocean Four – 17201 Collins Avenue | 45 of 281 or 16%| Ave List Price $922k | Ave PPSF $468
  • Ocean Three – 18911 Collins Avenue | 27 of 215 or 13%| Ave List Price $1.110M | Ave PPSF $449
  • Ocean Two – 19111 Collins Avenue | 20 of 254 or 8%| Ave List Price $1.071M | Ave PPSF $460
  • Ocean One – 19333 Collins Avenue | 8 of 241 or 3%| Ave List Price $862K | Ave PPSF $368
  • Millennium – 18671 Collins Avenue | 6 of 120 or 5%| Ave List Price $1.082M | Ave PPSF $498
  • Pinnacle – 17555 Collins Avenue | 28 of 244 or 11%| Ave List Price $984k | Ave PPSF $484
  • La Perla- 16699 Collins Avenue | 39 of 326 or 12%| Ave List Price $614k| Ave PPSF $412

Ave. Price Per Square Foot on Condos SOLD within the last 6 months, Sale Price to List and # Days On Market

  • Acqualina- 17875 Collins Avenue | 4 Closed Sales at $677 PSF (1% increase in PPSF since 3Q 2009) | 86% SP/LP | 426  DOM
  • JADE Beach- 17001 Collins Avenue | 5 Closed Sales at $427 PSF (14% increase in PPSF since 3Q 2009) | 86% SP/LP | 196 DOM
  • JADE Ocean- 17121 Collins Avenue | Released (TCO) June 2009 with No Closed MLS resales
  • Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 5 Closed Sales at $679 PSF (23% decrease in PPSF since 3Q 2009) | 92% SP/LP | 291 DOM
  • Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 3 Closed Sales at $648 PSF (23% increase in PPSF since 3Q 2009) | 95% SP/LP | 207  DOM
  • Trump Palace- 18101 Collins Avenue | 8 Closed Sales at $490 PSF (8% increase in PPSF since 3Q 2009)| 90% SP/LP | 118 DOM
  • Trump Royale – 18201 Collins Avenue | 6 Closed Sales at $496 PSF (9% increase in PPSF since 3Q 2009) | 91% SP/LP | 227 DOM
  • Trump Tower I- 16001 Collins Avenue | 4 Closed Sales at $399 PSF (3% increase in PPSF since 3Q 2009) | 86% SP/LP | 206 DOM
  • Trump Tower II – 15901 Collins Avenue | 3 Closed Sales at $385 PSF | 87% SP/LP | 174 DOM
  • Trump Tower III – 15850 Collins Avenue | No Closed MLS Sales
  • Sayan- 16275 Collins Avenue | 5 Closed Sale at $331 PSF | only 1 resale last year at $308 PSF | 92% SP/LP | 416 DOM
  • Ocean Four – 17201 Collins Avenue | 9 Closed Sales at $365 PSF (1% decrease in PPSF since 3Q 2009) | 100% SP/LP | 128 DOM
  • Ocean Three – 18911 Collins Avenue | 7 Closed Sales at $343 PSF (3% decrease in PPSF since 3Q 2009) | 91% SP/LP | 109 DOM
  • Ocean Two – 19111 Collins Avenue | 8 Closed Sales at $415 PSF (7% increase in PPSF since 3Q 2009) | 87% SP/LP | 128 DOM
  • Ocean One – 19333 Collins Avenue | 5 Closed Sales at $322 PSF (10% increase in PPSF since 3Q 2009) | 90% SP/LP | 193 DOM
  • Millennium – 18671 Collins Avenue | 3 Closed Sales at $464 PSF (28% increase in PPSF since 3Q 2009) | 95% SP/LP | 157 DOM
  • Pinnacle – 17555 Collins Avenue | 6 Closed Sales at $373 PSF (6% increase in PPSF since 3Q 2009) | 81% SP/LP | 540 DOM
  • La Perla- 16699 Collins Avenue | 13 Closed Sales at $331 PSF (6% decrease in PPSF since 3Q 2009) | 92% SP/LP | 102 DOM

Sunny Isles Beach SignageSunny Isles Beach Condo Index Summary

Sunny Isles Beach condo inventory is down hovering 1,000+ total condos for sale while property values have increased considerably as International & domestic buyers note the deals. The majority of oceanfront condo towers now have healthy inventory figures as shown above in blue with anything less 15% available for sale. Each building tells a different story and the bottom line is this Sunny Isles Beach condo market showing significant signs of improvement on oceanfront real estate. It’s time to buy Miami Beaches as long as you & the family will use it and enjoy it for at least the next 3+ years.

Selling or Leasing Your Condo? Are you trying to sell or lease with no results, communication, market value updates, aggressive marketing & overall progress.. Call or email for a personalized market report and global marketing plan surely to gain proper exposure for your condominium. Let’s get started today at 1.888.383.7326 or direct 1.305.978.7704.

Buyer’s ready for a great property? Call or email for the very best condo deals along Sunny Isles Beach, Bal Harbour, North Bay Village, Miami Beach & South Beach. The buyer advantage is still selection & leverage but we are consistently seeing multiple cash offers driving up values as we noted the 12% gain over a year ago today. The low-end residential condo market is accelerating with 60% of condo sales under $250k. As this year progresses and inventory continues to decrease, I believe prices will show in favor for continued improvement.

If you’d like to receive local Miami Beach FL real estate news via these valuable blog posts, you can easily be notified by RSS feed (see upper right column) or by email each time a new real estate news post occurs. Visit JADE Condos Sunny Isles website & JADE Condo Blog relaying great information on JADE Beach & JADE Ocean along with Turnberry Ocean Colony Sunny Isles website & Ocean Colony Condo Blog for intimate luxury condo knowledge! The truth is in the numbers 1.888.383.7326 and I welcome your knowledge, opinions, comments & feedback.

Showing You the Very Best from Sunny Isles to South Beach!

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Miami Beach Loft Condos – Open Living Environment

by on May.26, 2010, under Buyers of South Florida, Condos and Development, Investments, Miami Beach Condos, Miami Beach Lofts, North Bay Village Condos, North Bay Village Lofts, South Beach Condos, South Beach Lofts

South Beach & Miami Beach lofts were almost unheard of until the real estate boom from 2002 to 2005. As developers looked for something fresh and unique, the loft craze took off and yet still only make up a small fraction of Miami condo inventory. Originally popular with artists, they are now highly sought-after by others looking for open “creative” space. Different than the normal boxed in condominium, a loft condo is a 2-story adaptable open space created for residential use. While some of these loft units were created by developers during the renovation of old buildings such as found in Downtown Miami, a number of them are brand new mid-rise developments as seen along the Miami beaches.

The loft term was used loosely in 2003 with loft condos becoming difficult to acquire and typically priced over $500,000 while today they begin as low as $275,000. Loft-style refers to an open space with high ceilings and typically only 1-story, while a true traditional loft is a 2-story floor plan usually opened up from the living room (as seen below) exposing the upper or lower areas. A Miami loft is not to be confused with a townhome which has the open areas enclosed adding additional interior space yet having stairs leading to the upper level of the residence. Both types of lofts offer buyers or tenants proximity to urban amenities afforded by traditional lofts, but without perceived safety risks of living in economically depressed formerly industrial areas. Below we will explore Miami Beach loft condo inventory and the differences from South Miami Beach up to the island of North Bay Village and North Beach (NoBe) and in no special order.

South Beach Lofts

Miami Beach Lofts

North Bay Village Lofts

South Beach Loft -Ilona Loft CondoIlona Loft Condo -South Beach Loft image

For additional Miami Beach Loft information or to inquire on purchasing or leasing call or write 1.888.383.7326

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Trump Towers Sunny Isles Condos Bought Out by Dezer Properties

by on Feb.26, 2010, under Buyers of South Florida, Condos and Development, Deal of the Month, Investments, Luxury Residential Market, Sunny Isles Beach Condos

Related Group was bought out by Dezer Properties selling at new, discounted prices..   Trump Towers Condos I, II, III Sunny Isles BeachI decided to take the forbidden tour of the Trump Towers Sunny Isles Beach in January after years of stressful phone calls from speculators trying to sell & get out. To top it off, the news came from every direction of the Dezer family buying out Related’s stake in the entire project assuming the remaining debt after paying off Tower I. After seeing the finishes both condo interior and throughout, noting the well appointed amenities & hearing what had occurred with financial backing by the lender for the next 4 years, I’m now promoting it with all the other Sunny Isles Beach “greats” to clients & customers looking for the very best values on new oceanfront construction. Here are the interesting facts on the buyout..

Following months of negotiations with lenders, Dezer Properties assumed the former partnership’s $265 million loan on Dec. 31, 2009 with the bank then renegotiating the construction loan with Dezer Properties directly after seeing successful performance from Tower I sales allowing Dezer to then lower the prices by 30% and now causing a success of new sales in Trump Tower II.  Tower II was relaunched to the public as the premier tower of the three offering an onsite restaurant with an oceanfront setting and great food along with 2 swimming pools to choose from depending on which side of the bed you wake up on.

 The Dezer’s are the real estate moguls & godfather of Sunny Isles Beach condo development. The Dezer family owned business holds 45 acres of oceanfront land in Sunny Isles Beach, with sites for eight more buildings. Gil and father Michael Dezer have also developed and almost sold out Trump Grande in Sunny Isles Beach, a three building premium oceanfront enclave that includes the Trump International Beach Resort built in 2003, the Trump Palace (2006) and the latest Trump Royale (2008) which is now 60+ percent sold out. In addition to their South Florida properties, the Dezers’ holdings include 27 buildings in New York.

“Prices now range from $350 per square foot for most units to $600 a square foot for penthouses. Each of the three 45 story towers has 271 units. Tower I has 260 units sold, and Tower II is about 40 percent sold with 105 sold, Dezer said. During the next two to three months, Dezer will send out closing notices to those who put down deposits on Tower III, and give them the option to move over at a reduced price to Tower II. Tower III was sold out at an average price of $720 per square foot, with some sales at more than $1,000 a square foot!”    - MiamiHerald

 We’re seeing the very best value on a price per square foot basis at $350-$600psf as the low end price point of the luxury oceanfront condos are now reflective along the Miami Dade Beaches.. Sunny Isles Beach real estate specific to condo inventory, has seen a decrease in inventory consistently with 1,053 total condos on the market (Southeast Florida Regional MLS) with 272pending contracts, 96 of which went pending in the last 30 days. Our Sunny Isles Beach short sales are comprised of 193 (18%) condos down from 33% a year ago. Bank owned REO’s make up only 13 Sunny Isles Beach foreclosures or 0.01%. Call to chat 1.888.383.7326 or Contact me here.

Trump Towers Sunny Isles Condos for Sale | Trump Towers Condos for Rent

Shaky but Worthy; Sunny Isles Beach Video (2008)

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Golden Beach Single Family Homes – Trends & Stats 2010 Q1

by on Feb.09, 2010, under Buyers of South Florida, Community Information, Golden Beach, Investments, Luxury Residential Market, Seller's of South Florida, Waterfront Homes

Golden Beach Single Family Homes – Trends & Stats 2010 Q1

Golden Beach Florida Golden Beach Single Family Homes are limited along the ocean & bay and today’s inventory show us an excellent selection with 62 homes on the market in this small community ranging from $579k to $27,500,000 while there are only 39 on the water for sale ranging in values from $1.7M & up. In review of waterfront homes of Golden Beach, we see 2 homes under contract today ranging from $1.375,555M to $3.2M. What we see in these attachments below are what appears to be the local market values of Golden Beach peaking in 2007 with the average list price per square foot at $1,635 psf with a selling price per square foot of $1,222 and boasting the lowest number of days to sell at 297. As of 2009, the average selling price per square foot was only $625 psf for a 62% decrease in selling values since the peak and a 41% decrease over 2008! Preview the very best Golden Beach homes for sale in 2010.

I’ll report again on the local Golden Beach real estate market changes in 6 months so stay posted if you have an interest in this premier location… contact me for more information 1.888.383.7326!

Oceanfront Homes Golden Beach

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Sunny Isles Beach Luxury Oceanfront Condo Market Index 1Q 2010

by on Jan.25, 2010, under Buyers of South Florida, Condos and Development, F.A.Q., Investments, Seller's of South Florida, Sunny Isles Beach Condos

Sunny Isles Beach Condo Index Edition #5 of the 2010 Sunny Isles Condo Index

I’ll be reviewing & comparing the luxury oceanfront market from the 1Q 2009 Sunny Isles Condo Index to today’s updated 1Q 2010 Sunny Isles Condo Index including premier oceanfront towers such as Turnberry Ocean Colony, Acqualina, JADE Beach, Trump Palace, Trump Royale, Ocean 4, Sayan, Ocean One, Two & Three, Pinnacle & Millennium and now including JADE Ocean. I’ve excluded condo hotel properties from this study including the Trump International Beach Resort, Le Meridian (now known as Merenas Resort), Ocean Point and Sole.

Sunny Isles Beach (1Q 2010) Condo Index…

As of January 25th, we are noting 1,055 total condos for sale in Sunny Isles Beach down 17% from July 2009 and 28% from this time last year. So far, there have been 27 total closed sales (ALL figures are derived from the Multiple Listing Service MLS on JAN 25th, 2010) this year. What will be analyzed in this post are statistics & trends for the most desirable luxury towers along the coast of Sunny Isles Beach.

Percentage Available Inventory, Average List Price & Average Price Per Square Foot for leading luxury condo towers currently listed & Active on the MLS

  • Acqualina- 17875 Collins Avenue | 17 of 247 or 7%| Ave List Price $2.186M | Ave PPSF $775
  • JADE Beach (99% Closed as per County records) - 17001 Collins Avenue | 41 of 248 or 17%| Ave List Price $1.439M | Ave PPSF $642
  • JADE Ocean- (80 rec. deeds per County records) – 17121 Collins Avenue | 4 of 250 or 2% | Ave List Price $2.107M | Ave PPSF $765
  • Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 12 of 130 or 9%| Ave List Price $2.598M | Ave PPSF $799
  • Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 17 of 130 or 13%| Ave List Price $2.274M | Ave PPSF $747
  • Trump Palace – 18101 Collins Avenue | 29 of 275 or 11%| Ave List Price $1.329M | Ave PPSF $629
  • Trump Royale – 18201 Collins Avenue | 19 of 384 or 5%| Ave list Price $1.124M | Ave PPSF $565
  • Trump Tower I- 16001 Collins Avenue | 29 of 271 or 11%| Ave List Price $1.135M | Ave PPSF $487
  • Trump Tower II – 15901 Collins Avenue | 9 of 271 w/Developer units remaining | Ave List Price $927k | Ave PPSF $433
  • Trump Tower III – 15850 Collins Avenue | No MLS records
  • Sayan- 16275 Collins Avenue | 22 of 88 or 25%| Ave List Price $1.211M | Ave PPSF $572
  • Ocean Four – 17201 Collins Avenue | 40 of 281 or 14%| Ave List Price $997k | Ave PPSF $508
  • Ocean Three – 18911 Collins Avenue | 28 of 215 or 13%| Ave List Price $1.142M | Ave PPSF $459
  • Ocean Two – 19111 Collins Avenue | 19 of 254 or 7%| Ave List Price $1.096M | Ave PPSF $479
  • Ocean One – 19333 Collins Avenue | 8 of 241 or 3%| Ave List Price $728K | Ave PPSF $330
  • Millennium – 18671 Collins Avenue | 6 of 120 or 5%| Ave List Price $1.015M | Ave PPSF $446
  • Pinnacle – 17555 Collins Avenue | 45 of 244 or 18%| Ave List Price $960k | Ave PPSF $494
  • La Perla- 16699 Collins Avenue | 39 of 326 or 12%| Ave List Price $654k| Ave PPSF $430

Ave. Price Per Square Foot on Condos SOLD within the last 6 months, Sale Price to List and # Days On Market

  • Acqualina- 17875 Collins Avenue | 4 Closed Sales at $673 PSF (7% increase in PPSF since 1Q 2009) | 88% SP/LP | 247  DOM
  • JADE Beach- 17001 Collins Avenue | 2 Closed Sales at $427 PSF | 89% SP/LP | 89 DOM
  • JADE Ocean- 17121 Collins Avenue | Released (TCO) June 2009 with No Closed MLS resales
  • Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 8 Closed Sales at $679 PSF (22% increase in PPSF since 1Q 2009) | 86% SP/LP | 143 DOM
  • Turnberry Ocean Colony South Tower – 16047 Collins Avenue | 7 Closed Sales at $499 PSF (26% decrease in PPSF since 1Q 2009) | 90% SP/LP | 195  DOM
  • Trump Palace- 18101 Collins Avenue | 3 Closed Sales at $450 PSF (19% decrease in PPSF since 1Q 2009)| 86% SP/LP | 162 DOM
  • Trump Royale – 18201 Collins Avenue | 3 Closed Sales at $451 PSF | 95% SP/LP | 111 DOM
  • Trump Tower I- 16001 Collins Avenue | 2 Closed Sales at $386 PSF | 78% SP/LP | 493 DOM
  • Trump Tower II – 15901 Collins Avenue | No Closed MLS Sales
  • Trump Tower III – 15850 Collins Avenue | No Closed MLS Sales
  • Sayan- 16275 Collins Avenue | 0 Closed Sale at $N/A | only 1 resale last year at $308 PSF | 86% SP/LP | 84 DOM
  • Ocean Four – 17201 Collins Avenue | 15 Closed Sales at $367 PSF (5% decrease in PPSF since 1Q 2009) | 94% SP/LP | 228 DOM
  • Ocean Three – 18911 Collins Avenue | 2 Closed Sales at $353 PSF | 94% SP/LP | 316 DOM
  • Ocean Two – 19111 Collins Avenue | 7 Closed Sales at $384 PSF | 91% SP/LP | 175 DOM
  • Ocean One – 19333 Collins Avenue | 3 Closed Sales at $291 PSF | 86% SP/LP | 288 DOM
  • Millennium – 18671 Collins Avenue | 3 Closed Sales at $336 PSF | 81% SP/LP | 101 DOM
  • Pinnacle – 17555 Collins Avenue | 6 Closed Sales at $351 PSF | 97% SP/LP | 234 DOM
  • La Perla- 16699 Collins Avenue | 15 Closed Sales at $354 PSF (2% decrease in PPSF since 1Q 2009) | 91% SP/LP | 127 DOM

Sunny Isles Beach Condo Index Summary

Sunny Isles Beach inventory is decreasing month over month while property values have also dropped considerably causing more sales to occur. The majority of oceanfront towers now have healthy inventory figures as shown above with anything less 15%. Each building tells a different story and the bottom line is you cannot go wrong in 2010 with oceanfront real estate as long as you & the family will use it and enjoy it for at least the next 2 years.

Sellers, are you attempting to sell with little communication on values, marketing & progress…? Call me for a personalized market report for your condo and let’s get started today. Buyer’s ready for a great buy? Call or email for the very best deals along Sunny Isles Beach, Bal Harbour & South Beach. The buyer advantage is still selection & leverage but we are again seeing multiple cash offers driving up values again on the lower end residential market. As inventory decreases I believe prices will start to show favor for stabilization if it hasn’t already.. If you’d like to receive local Miami Beach FL real estate news via blog postings & updates, you can easily be notified by RSS feed (see upper right column) or by email above each time a new posting occurs. Visit JADECondosSunnyIsles.com website & Blog relaying great information on JADE Beach & JADE Ocean and the brand new TurnberryOceanColonySunnyIsles.com website & blog! The truth is in the numbers 1.888.383.7326 and I welcome your knowledge, comments & feedback here. South Beach to Sunny Isles Real Estate Sales & Marketing.

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Top 10 Real Estate Condo Deals from 2010 – Sunny Isles to South Beach

by on Jan.10, 2010, under Buyers of South Florida, Condos and Development, Deal of the Month, Investments, Miami Beach Condos, North Bay Village Condos, South Beach Condos, Sunny Isles Beach Condos

Happy New Year friends and this will be post #1 of 2010. Here’s a shocking new thought for 2010… Just because it sold for that price in 2008 & 2009, does it mean you can buy it for that price today? It seems to be happening again and again as inventory decreases.. Will there be a tough time understanding & coping just opposite to the seller reluctancy seen in 2007 as the Miami Beach real estate market came to a standstill?

The buying window of opportunity in “catching the bottom” may be leaving in 2010. My 2010 forecast will be coming in the next few posts as I discuss market stats, trends and the direction this year could go in as relay that NOW is the time to find the bottom of South Beach to Sunny Isles Beach. Sale to List Price Ratio have jumped from 88% to 92%.

On the flipside, we will always find opportunities so if you wait this year to watch I am certain you can find the “deal.” Some buildings are already seeing appreciation. Space 01 for example went up 23% in the last 90 days! 11 Island Avenue has gone up 13% in the last 6 months. Roney Palace is on the direction up and more (FNMA Financing now Approved) to come..

Many would consider condo deals to be under ie) $250k but from $150 to $5.5M, here are my top choices for January 2010 in which I expect sales to occur within the next 60-90 days. I have previewed the majority with customers and these have been the top choices.. these links are LIVE so we’ll all soon find out once the Status changes from Active to Pending to Closed.

Preview Daily Updates on Miami Beach | Sunny Isles Condo Deals & Repos

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Capri Brings Simple Luxury to the Bayside of South Beach Real Estate

by on Nov.16, 2009, under Buyers of South Florida, Condos and Development, Investments, South Beach Condos

Capri Condos South Beach

I went with a friend this weekend to preview the latest bayside complex known as Capri South Beach. The 3 buildings are simple & posh boasting a small lap pool and enormous gym featuring high tech equipment, marina with reasonable dock space ($25 per foot) and strong attention to detail from the staff. The Capri South Beach residence interiors offer generous floor plans with special views of both the Downtown skyline plus the historic Venetian Causeway. Finished in travertine marble floors, master bath areas offering the tub enclosed within the double rain shower glass and outstanding kitchens featuring Sub Zero & Wolf appliances for those enjoying superior cooking.

Overall the complex is aiming for 1,000 per square foot and it seems Maefield Development are slowly getting it with recent sales in the $900′s. Not in desperation by any means, but enjoying a new South Beach condo project of only 72 residences worth bragging about.

Capri South BeachCapri South Beach Master BathroomCapri South Beach ViewsCapri South Beach LobbyCapri South Beach KitchenCapri South Beach Model Residence

View more photographs right here on South Beach real estate at Flickr! For more information or to set an appointment, call me at 1.888.383.7326.

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What’s It All About – The New Good Faith Estimate and HUD-1?

by on Nov.13, 2009, under Buyers of South Florida, F.A.Q., Investments, Miscellaneous, Taxes & Insurance

Significant RESPA changes coming

The new RESPA (Real Estate Settlement Procedures Act) regulations that were published on November 17, 2008, are going into effect January 1, 2010.  These changes were primarily enacted to protect borrowers against excessive loan fee charges, and to make it easier for borrowers to understand their key loan terms and to determine the exact charges they are responsible for paying at closing. Such terms include:

  • Loan term.
  • Interest rate and whether it is fixed or variable.
  • Whether there is a pre-payment penalty should the borrower choose to refinance at a later date.
  • If there is a balloon payment.
  • Total closing costs.

Good Faith Estimate (GFE) and HUD-1 Regulations

HUD, the primary agency for enforcing RESPA laws, is requiring that loan originators (lenders and mortgage brokers) must provide borrowers with a standard Good Faith Estimate that specifically discloses all their key loan terms and closing costs. Closing agents (including title companies) must provide borrowers with the revised HUD-1 settlement statement. It will now be easier for borrowers to compare their GFE with their HUD-1 Settlement Statement because each designated line on the final HUD-1 will make a reference to the appropriate line from their GFE.

Borrowers can shop around and compare loan products quicker and easier as well. HUD estimates that consumers will also save as much as $700.00 at closing under the new regulations as a result of the elimination of many junk fees that lenders and closing agents were charging borrowers such as fees for courier, wiring, notary, photocopying, postage, overnight delivery, document preparation and document review.

The new regulations affect mortgage loan transactions and not cash transaction. However, cash buyers are also provided with a HUD-1 closing statement a few days before closing by the closing agent to determine their closing fees. Cash buyers should request a closing statement if it is not provided. These new regulations will help prevent lender fraud and make it easier for borrowers to shop for competitive loan products. For more information on the new regulations, visit the HUD website at http://www.hud.gov/offices/hsg/ramh/res/resparulefaqs.pdf.

A Few More Reasons

Just a few more reasons why buyers should be taking advantage of the many loan products available today to help them with their purchase of Miami Beach real estate, South Beach real estate, Bal Harbour real estate, Sunny Isles Beach real estate, or Golden Beach real estate. These loan rates and affordable luxury condos & homes won’t be around for ever so take advantage now!

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Why the Rich and Famous Flock to Golden Beach?

by on Nov.11, 2009, under Buyers of South Florida, Community Information, Golden Beach, Investments, Luxury Residential Market

461 Ocean Boulevard

461 Ocean Boulevard

Rich and Famous Flock to Golden Beach.

Celebrities such as Bill Gates, Ricky Martin, Benjamin Rose, Paul Newman are just a few of the many past and present rich and famous residents of Golden Beach. Let’s not forget that famous Eric Clapton album and photo of 461 Ocean Boulevard, which was named after the Golden Beach house located at that address.

In fact, people from all over the world flock to Golden Beach, known not only for its luxury real estate and opulent life style, as well as its pristine sandy beaches with turquoise crystal clear waters, but also for the security and seclusion this community has to offer.

Did you know that Golden Beach has the largest police force of all the surrounding communities? Boy do they do a great job monitoring the streets and main road running through Golden Beach, Collins Avenue (also known as State Road A1A and Beachfront Avenue). This stretch of Collins Avenue does not even have sidewalks. If you want access to the beach, you need an invitation from a Golden Beach resident. There is no high rise construction or commercial development even permitted within the town limits.

Golden Beach is bounded by the Atlantic Ocean to the East, the Intracoastal Waterway to the West, and the coastal cities of Hallandale Beach on the North and Sunny Isles Beach to the South. Just a short drive to Miami or Ft. Lauderdale as well.

Located next to Golden Beach, you will find the famous Shoppes of Bal Harbour and some of the finest area dining, cultural centers and sports venues. You will also find the historic beach pavilion, three parks and much more. Golden Beach real estate consists of some of the most exclusive, upscale oceanfront luxury properties in the area as well as Intracoastal and dry lot homes. Prices are hefty starting in the million range up to $18,000,000+.

If you are looking for the life of luxury, then Golden Beach real estate, Bal Harbour real estate,  Sunny Isles Beach real estate, Miami Beach real estate and South Beach real estate are some of the best places to start. Golden Beach is centrally located and convenient to local area local airports. Only 18 miles from Miami International Airport and 15 miles from Ft. Lauderdale International and the Everglades.

Call for further information on the Golden Beach residential oceanfront community! 1.888.383.7326

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St. Tropez Sunny Isles Beach Property Tour

by on Nov.10, 2009, under Buyers of South Florida, Community Information, Condos and Development, Investments, Sunny Isles Beach Condos

St. Tropez Sunny Isles Beach

I had a spur of the moment urge to preview St. Tropez Condos in Sunny Isles this weekend and was overly impressed with not only the grounds but the pricing and confidence the developer has in them. Only 18 to 20 condos remain in each building (of 80 units per tower) with a select few having special developer default pricing. The price points range from $315 to $400+ per square foot and the majority of condos are 1,670 square feet. Spanning the Intracoastal waterway (600 lineal feet) along the final stretch before the Atlantic Ocean meets Sunny Isles Beach Boulevard, St. Tropez is definitely a building to appreciate. Below are a few of my favorite photographs from the tour.

St. Tropez Pool Deck
St. Tropez Pool Deck

St. Tropez Versace Room
St. Tropez Versace Room

St. Tropez Media Library

St. Tropez Media Library

St. Tropez Front Entryway

St. Tropez Front Entryway

Model Living Area

Model Living Area

St. Tropez Kitchen

St. Tropez Kitchen

As you can see (more photos here on Flickr) it’s an amazing property by one of the most financially stable developers J. Milton & Associates who brought us Sayan, Pinnacle, King David and with C.O. in place, has so much to offer with with this new 3 tower complex. The location is awesome offering a Mediterranean shopping area with upscale dining, shopping meccas and the new City of Sunny Isles Towne Center worth Millions. The amenities include a Versace inspired clubhouse, state of the art gymnasium and featuring an oversized sauna and steam room plus an outdoor relaxation area complete with an enclave of sun beds and gardens. Call me for additional information or to preview the residences at 1.888.383.7326!

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New Tax Credit Extensions for Home & Condo Buyers

by on Nov.09, 2009, under Buyers of South Florida, Investments, Seller's of South Florida, Taxes & Insurance

New Tax Credits for Home Buyers

Some good news for a change! Congress approved the extension of the $8,000 federal first-time home buyer tax credit, and President Obama signed the law into effect on November 9, 2009. The tax credit was supposed to expire December 1, 2009, and has now been extended through April 30, 2010.

Even better, there has been an addition to the law allowing existing homeowners who want to move up or down to another home to receive a tax credit in the sum of $6,500.00, so long as they have owned and lived in their previous home for five consecutive years out of the last eight years.

Whether you are looking for Miami Beach real estate, South Beach real estate, Sunny Isles Beach real estate, Bal Harbour real estate or Golden Beach real estate, you should take advantage of these great tax credits, the current low interest rates and affordable prices these communities have to offer.  Those of who have been sitting patiently on the sideline waiting, you no longer have any reasons to delay the purchase of your Miami Beach and surrounding area luxury condos and homes.
Here are some highlights of the new tax credit law:

First Time Home Buyer Credit

  • First time home buyers who purchase a home on or after January 1, 2009 and before April 30, 2010, are eligible to receive an $8,000 tax credit. If your purchase and sales contract is signed on April 30, 2010, and you complete your transaction by June 30, 2010, you will qualify for the credit.
  • The IRS definition of first-time home buyer is a buyer who has not owned a principal residence during a three year period prior to their purchase.
  • The tax credit does not have to be repaid.
  • The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
  • The tax credit applies only to homes priced at $800,000 or less that are primary residences. No investment properties or second homes qualify.
  • For homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.
  • For homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

Long-Time Residences/ Same Residences  (Move Up/ Down) Buyers

  • Buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.
  • The tax credit does not have to be repaid.
  • The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500.
  • The tax credit applies only to homes priced at $800,000 or less that are primary residences. No investment or second homes are eligible.
  • The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. If your purchase and sales contract is signed on April 30, 2010, and you complete your transaction by June 30, 2010, you also will qualify for the credit.
  • Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

In order to avoid fraud, the IRS will require a copy of the HUD-1 closing statement from all buyers.

Military Buyers

If a Military member is deployed outside of the United States for a minimum of 90 days between December 31, 2008 and May 1, 2010, the tax credit is extended on purchases to on or before April 30, 2011.  If a purchase and sale contract is signed on April 30, 2011, the transaction must close on or before June 30, 2011 in order to qualify for the tax credit.

The new law is expected to further boost and help strengthen our recovering real estate market because it is beneficial to buyers, sellers and the entire real estate industry.

Thank you Coldwell!

Let’s Go!

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Sunny Isles Beach Luxury Condo Sales & Deals of Q4

by on Oct.22, 2009, under Buyers of South Florida, Condos and Development, Investments, Luxury Residential Market, Sunny Isles Beach Condos

Sunny Isles Beach Oceanfront

Sunny Isles Beach Oceanfront

What’s happening in Sunny Isles Beach and where are these great deals? With 225 luxury condos priced over $1M, where would one begin? In looking at new construction from 2005 and on the inventory falls to 175 with ZERO bank owned and surprisingly only 5 short sales. I’m going to begin looking at the lowest possible price per square foot and start with $500 in which we see the inventory drop to TWENTY! In continuing to weed out the bad from the good, I’ll eliminate 3 at Oceanika Villas which hasn’t even broke ground yet leaving 17 top potentials.

Sunny Isles Beach Condo Deals Here

Price Bands of # of condos for sale in Sunny Isles Beach

>$250 – 366

$250 – $499k – 283

$500 – $749k – 167

$750 – $999k – 131

$1M -$1.999M – 176

$2M -$2.999M – 31

$3M -$3.999M – 11

$4M -$4.999M – 6

$5M -$5.999M – 2

Total – 1,173

What’s happening in the luxury tier of closed condo sales of Sunny Isles Real Estate? As of the last 90 days, 13 luxury oceanfront condos have sold in the price ranges of $1M to $4.999M. Interesting to note that only 1 of 13 closed above $2M showing where real buyers are prepared to go financially given the current market. Leading the pack was Acqualina with the record high sale and a staggering 37% discount off list price ($7.9M). Additional highlights show Turnberry Ocean Colony leading with the highest number of condos closed at 7. Ocean Four, Jade Beach, Trump Tower I, Trump Palace fall in line respectively. Average selling price per square foot is $499. Average days on market at 177 and the average Sale to List Price is at 89%.

Price Bands of # of condos SOLD (last 90 days) in Sunny Isles Beach

>$249 – 87

$250 – $499 – 26

$500 – $749k – 14

$750 – $999k – 11

$1M – $1.999M – 11

$2M – $2.999M – 1

$3M – $3.999M – 0

$4M – $4.999M – 1

$5M – $5.999M – 0

Total - 151

Sunny Isles Beach Condos For Sale vs. Sold

Sunny Isles Beach Condos For Sale vs. Sold

Sunny Isles Beach Months of Inventory

Sunny Isles Beach Months of Inventory

These graphs show the inventory trends and closed sales moving in the right direction for recovery. If these graph trends stay relative we could begin to see solid stabilization next year. The inventory still reflects a 25 month supply so there are great buying opportunities as seller’s still have strong competition and duration concerns when liquidity in selling is a must. Inventory has dropped from 41 months to 25 months, while closed sales have doubled over this time last year! In summary, still a good inventory selection with trends showing favor to “local” market improvement… we’re looking good Sunny Isles!~ Want more information on Sunny Isles Beach condos for sale or have insights & opinions, leave a comment below for the readers to see.

Your link to what’s new & happening along the Miami Dade County beaches 1.888.383.7326.
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What's the State of Miami Beach Bank Owned (REO) Condos?

by on Sep.12, 2009, under Buyers of South Florida, Investments

South Beach at Night!~Miami Beach Bank Owned Condos are selling FAST.

Get ready for a ‘multiple offer addendum’ from the bank to accompany your offer and if you aren’t paying cash, look for a short sale deal instead. Still at less than 2% of our inventory, Miami Beach bank owned are highly desirable and are reflecting a high ROI for cash investors of up to 5% (yearly lease rates) as I’ve seen this month on a 2 day sale at Bayview Lofts in Miami Beach.

Here are local area REO stats:

  • 3,495 ‘Total’ Miami Beach Condos for Sale
  • 62 Miami Beach Bank Owned (2%)
  • 28 Sold in the Last 30 Days
  • 93 Sold in the Last 90 Days
  • 291 Sales in 2009
  • Average Days On Market 69
  • Average Sale Price per Square Foot $182 (Last 90 Days $176)
  • Average List Price Per Square Foot $185 (Last 90 Days $171)
  • Sale to list Price Ratio at 99% (Last 90 Days 103%)

Best Bank Owned Condos of Miami Beach FL: Miami Beach REOs

Best Bank Owned Condos of Bal Harbour, SIB & Aventura: Sunny Isles REOs

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Sunny Isles Beach Luxury Oceanfront Condo Market Index 3Q 2009

by on Jul.21, 2009, under Buyers of South Florida, Condos and Development, Investments, Seller's of South Florida, Sunny Isles Beach Condos

Sunny Isles Beach Skyline 2

Edition #4 of the 2009 Sunny Isles Beach Condo Index

I’ll be reviewing & comparing the luxury oceanfront market from the 1Q 2009 Sunny Isles Condo Index to today’s updated 3Q 2009 Sunny Isles Condo Index including premier oceanfront towers such as Turnberry Ocean Colony, Acqualina, JADE Beach, Trump Palace, Trump Royale, Ocean 4 and Sayan with a few older but desirable towers now added such as Ocean One, Two & Three, Pinnacle & Millennium. I’ve excluded condo hotel properties from this study including the Trump International Beach Resort, Le Meridian (M Resort), Ocean Point and Sole.

On to the Sunny Isles (3Q 2009) Condo Index…

As of today we are noting 1,276 total condos for sale in the city of Sunny Isles Beach. This year there have been 303 total closed sales (ALL figures are derived from the Multiple Listing Service MLS on July 20th, 2009). What will be analyzed in this post are statistics and trends for the most desirable luxury towers along the coast of Sunny Isles Beach.

Percentage Available Inventory, Average List Price & Average Price Per Square Foot for leading luxury condo towers currently listed & Active on the MLS

Acqualina- 17875 Collins Avenue | 35 of 247 or 14%| Ave List Price $2.473M | Ave PPSF $835
JADE Beach (87% Closed as per dev. rep.) - 17001 Collins Avenue | 32 of 248 or 13%| Ave List Price $1.402M | Ave PPSF $667
JADE Ocean- 17121 Collins Avenue | Released July (TCO) 2009 with 3 new MLS records | Ave List Price $2.065M | Ave PPSF $910
Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 21 of 130 or 16%| Ave List Price $2.270M | Ave PPSF $755
Turnberry Ocean Colony South Tower- 16047 Collins Avenue | 28 of 130 or 22%| Ave List Price $2.136M | Ave PPSF $695
Trump Palace- 18101 Collins Avenue | 48 of 275 or 17%| Ave List Price $1.231M | Ave PPSF $627
Trump Royale (45% Closed as per dev. rep.) – 18201 Collins Avenue | 16 of 275 or 6%| Ave list Price $998K | Ave PPSF $573
Trump Tower I- 16001 Collins Avenue | 37 of 271 or 14%| Ave List Price $1.164M | Ave PPSF $516
Trump Tower II – 15901 Collins Avenue | No MLS records
Trump Tower III – 15850 Collins Avenue | No MLS records
Sayan- 16275 Collins Avenue | 21 of 88 or 24%| Ave List Price $1.365M | Ave PPSF $462
Ocean Four – 17201 Collins Avenue | 58 of 281 or 21%| Ave List Price $1.050M | Ave PPSF $486
Ocean Three – 18911 Collins Avenue | 21 of 215 or 10%| Ave List Price $1.2M | Ave PPSF $472
Ocean Two – 19111 Collins Avenue | 20 of 254 or 8%| Ave List Price $1.079M | Ave PPSF $468
Ocean One – 19333 Collins Avenue | 14 of 241 or 6%| Ave List Price $917K | Ave PPSF $393
Millennium – 18671 Collins Avenue | 6 of 120 or 5%| Ave List Price $1.108M | Ave PPSF $501
Pinnacle – 17555 Collins Avenue | 43 of 244 or 18%| Ave List Price $1.151M | Ave PPSF $528
La Perla- 16699 Collins Avenue | 48 of 326 or 15%| Ave List Price $637k| Ave PPSF $422

Ave. Price Per Square Foot on Condos SOLD within the last 6 months, Sale Price to List and # Days On Market

Acqualina- 17875 Collins Avenue | 4 Closed Sales at $744 PPSF (16% increase since 1Q 2009) | 92% SP/LP | 350  DOM
JADE Beach- 17001 Collins Avenue | No Closed MLS Sales | Developer Sales are happening in the mid to high $400′s PSF
JADE Ocean- 17121 Collins Avenue | Released (TCO) June 2009 with No Closed MLS Sales
Turnberry Ocean Colony North Tower- 16051 Collins Avenue | 3 Closed Sales at $549 PSF (4% increase since 1Q 2009) | 86% SP/LP | 402 DOM
Turnberry Ocean Colony South Tower- 16047 Collins Avenue | 3 Closed Sales at $517 PSF (23% decrease since 1Q 2009) | 81% SP/LP | 268  DOM
Trump Palace- 18101 Collins Avenue | 11 Closed Sales at $511 PSF (8% decrease since 1Q 2009)| 89% SP/LP | 137 DOM
Trump Royale – 18201 Collins Avenue | No Closed MLS Sales -Developer Defaults currently selling.
Trump Tower I- 16001 Collins Avenue | No Closed MLS Sales -Developer Defaults currently selling.
Trump Tower II – 15901 Collins Avenue | No Closed MLS Sales
Trump Tower III – 15850 Collins Avenue | No Closed MLS Sales
Sayan- 16275 Collins Avenue | 1 Closed Sale at $308 PSF (21% decrease since 1Q 2009) | 86% SP/LP | 84 DOM
Ocean Four – 17201 Collins Avenue | 1 Closed Sales at $305 PSF (21% decrease since 1Q 2009) | 97% SP/LP | 37 DOM
La Perla- 16699 Collins Avenue | 11Closed Sales at $348 PSF (3% decrease since 1Q 2009) | 93% SP/LP | 216 DOM
Ocean Three – 18911 Collins Avenue | 4 Closed Sales at $371 PSF | 87% SP/LP | 388 DOM
Ocean Two – 19111 Collins Avenue | 8 Closed Sales at $398 PSF | 89% SP/LP | 127 DOM
Ocean One – 19333 Collins Avenue | 3 Closed Sales at $375 PSF | 81% SP/LP | 158 DOM
Millennium – 18671 Collins Avenue | 2 Closed Sales at $394 PSF | 84% SP/LP | 466 DOM
Pinnacle – 17555 Collins Avenue | 5 Closed Sales at $391 PSF | 89% SP/LP | 414 DOM

Sunny Isles Condo Index Summary

Sunny Isles Beach Condo Inventory has gone down 13% since February with Acqualina leading the pack in “selling” price per square foot and a surprising 16% increase over February sales figures. Trump Palace still leads the rest as the best in healthy sales figures with 11 condos trading via MLS at an average of only 137 days on market to sell with La Perla right behind. Turnberry Ocean Colony South Tower took a dive in selling values down 23% since February with speculators selling low and moving on. Turnberry Ocean Colony is still one of the most desirable full service buildings with prices now beginning at $1M for a finished residence ($447 PSF). It’s interesting to note the older “established” buildings such as Ocean One, Two & Three having healthy inventory levels. The truth is in the numbers 1.888.383.7326 and I welcome your knowledge, comments & feedback here.
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Regent Bal Harbour Transitions to One Bal Harbour Resort & Spa

by on Jul.04, 2009, under Bal Harbour Condos, Buyers of South Florida, Condos and Development, Investments

One Bal Harbour Resort & Spa

One Bal Harbour Resort & Spa

GOD Bless America & Happy 4th of July friends. Busy selling & unable to blog much lately but the most recent newsworthy post pertains to Regent One Bal Harbour sale which is now to be known as One Bal Harbour Resort & Spa. That’s right, WCI has sold (announced June 22nd, 2009) the Regent BalHarbour trophy property to the team behind the Eighth Wonder 8w otherwise known as Elevation Communities, LLC. The private group paid $14.6 million for the common areas of the hotel along with 51 unsold condo hotel units, according to sources.

From the $14.6M, Elevation Communities LLC with Jorge E. Arevalo and Thomas D. Sullivan in South Miami paid $2.6 million for 41,047 square feet of the saleable space in the 124 unit Regent Hotel tower located on the west side of the 26 story, trophy complex in exclusive Bal Harbour. Smart Buyers, Exceptional timing… What a STDEAL!!

“Regent Hotels & Resorts today advised that its management of The Regent Bal Harbour Hotel will end effective today as the result of court actions related to the bankruptcy of the hotel owner, WCI Communities Inc. The United States Bankruptcy Court for the District of Delaware has approved the immediate sale of the Hotel by WCI Communities, Inc. to a new owner and the rejection of the existing management contract for the property.” - TradingMarkets.com

The word “on the inside” is WCI did a lousy job marketing the Regent Hotel & Guerlain SPA with very little marketing dollars spent and only a 20% occupancy. Remember Regent had pulled out of their other condo hotel at 15th & Ocean Drive in South Beach, two years ago. The new owners have extraordinary plans to take One BalHarbour Resort & Spa to a whole new ’6 Star’ level in the coming year in direct competition with St. Regis Bal Harbour Resort Hotel & Spa, currently under construction. One Bal Harbour Resort & Spa was built in 2007 and located at 10295 Collins Avenueright at the HauloverInlet with quite possibly the best views (& location) in all of Miami. The condo offers hotel services with a world class oceanfront restaurant, two private oceanfront swimming pools, private jacuzzis, beach & poolside treatment, high tech theater, fitness center, social room, business center, linen service, pet care service and an amazing 10,000 square foot spa operated by the famous L’Institut de Gurlain Paris: Massage, skin treatment, hand and foot therapies, lifestyle, nutritional and anti aging programs, health reviews and seminars. Simply the best in services and amenities.

Current MLS resale inventory shows us 24 residences for rent ranging from $5,500 to $20,000 month. 51 Resales range in values from $369,000 (510 SF studio) to $6.299M (4 BR 5,266 SF residence). In the last 6 months, 8 units have sold through the Multiple Listing Service with sale prices ranging from $1.3M to $2.4M. Average time on the market for a One Bal Harbour property to sell is 211 days with an average selling price per square foot at $706 and an average list price of $939. The average sale to list price ratio is at 85%.

One Bal Harbour Bulk Sale UPDATE August 5th:

The amount of visitors has tripled because of the latest news on the bulk sale purchase as One Bal Harbour. This is not something “normal” by any means andit was in some way tied in with the new management. Anyone and everyone would have bought here for investment under $100 bucks PSF so this sale was not the ‘average Joe’ deal that came along. It was a factor of supreme leverage andtiming of which the buyer DID get a steal. You will not see this PPSF again and don’t believe this is the common bulk sale discount. I do believe price per square foot will come down slightly at One Bal Harbour over the next year as $1,100 PSF was above the market norm at the peak setting records for the area of Bal Harbour real estate. I see One Bal Harbour hovering in the $550-$650 PSF these next 12 months asjust last month (7/17/09), 2 units closed at $642 & $629 PSF. This is One Bal Harbours “norm” and still setting records. Any One Bal Harbour bulk sale updates or insights from you related to this would be greatly appreciated… The media has had a loose way of sensationalizing this sale.

Of the top One Bal Harbour Resort & Spa residences,

there are 7 to compare here.. Use the arrows within the link ‘One Bal Harbour Resort & SPA’. If you’d like an updated inventory report, additional stats or other solid deals don’t hesitate to reach out at 1.888.38.DREAM for all your Bal Harbour real estate & Dade County ‘Beach’ needs.

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SPACE 01 Loft Package Sale with an Easy Rent or 'Flip' Potential.

by on Jun.15, 2009, under Buyers of South Florida, Condos and Development, Investments, North Bay Village Condos

Space 01 Biscayne Bay Views

Space 01 Package Sale.

The name says it all with 1,800+ loft area living space and the type of raw, open real estate you either love or hate. I’ve always been a fan of this property so thought it would be informative to promote it here… I came across an incredible deal at Space 01 last week and it’s not yet (until now) being marketed… Either a single unit sale on a 7th floor (2/2) just under $200k or an investor package deal at 5 units for $200k each ($1M).  This is a really great opportunity that appears to be a distressed sale with the owner ready to let them go at a low ‘package deal’ price. True creative loft space that many developers tried to immitate during the boom and priced to sell even at the $250,000 (today’s market value price) yet has the potential to be purchased at this solid discount. One is on the 5th floor (corner), a very desirable unit offering a huge terrace (~400 SqFt) and asking $275k (not yet on market). Rental income per unit is a very fast $1,700 month income to $2,000 month when finished correctly inside!

  • 2008 Taxes ~$9,353 (Taxes pro-rated year 1 at 2008 figures and lowered substantially on year 2 at ~2% sale price plus factoring neighboring sales ie. $4,200-5,800/year estimate)
  • Maintenance $675 x 12 = $8,100 year
  • Total Est. Yearly Expense = $17,453
  • Rental Income $1,900 x 12 = $22,800
  • Immediate ‘flip potential’ at $250k-$259,000

Space 01 Luxury Loft Living

Space 01 Loft Living

Space 01 Condos.

Space 01 Condos were built in 2006 on the Miami Beach island of North Bay Village. Compromised of only 54 total units and a unique 12′ ceiling loft concept, Space 01 is a true Miami loft building. These large loft spaces come with 2 garage parking spaces and boasts 1,880 square feet with open & unobstructed Biscayne Bay views, Snaidero kitchen cabinets, Miele & Subzero appliances plus an elevated jacuzzi bathtub gazing over Biscayne Bay’s exceptional water views. When you walk into the residence, there is a small room to with the second bathroom in which many unit owners turn this into a childs room, den or office. The large hurricane impact glass windows span the interior and open up (see below) to the breezes outside. Amenities include a large fitness center with a rooftop pool & hot tub overlooking the entire Island vicinity. There are 2 personal negatives on the Space 01 property which include a catwalk style entryway to your condo and no terraces other than these special 5th floor units which offer ample terrace space. As for the project itself, a major turnaround has occurred since it’s 2006 inception with speculators losing their “space” and riding high in foreclosure reality from $500k-$650,000 as original purchase price, now down to $250,000 which is where the recent bank owned (sold & pending comps) have turned. The board recently hired Keystone management so Space 01 should have corrected itself as there have been foreclosed units (now absorbed) and delinquent maintenance fees (Maintenance increased to $675 to compensate) for some time. I’m very confident in this property producing great returns as long term hold with $106 per square foot being WAY below reproduction costs. The interior seems to make up for this terrace discrepancy as you see in these photographs.

Space 01 Jacuzzi Tub Overlooking Biscayne Bay

Space 01 Bay Views West

Space 01 Rooftop Pool

See More Photos Here on FlickrSee a Google Map of Space 01

1.888.383.7326 or Info@MiamiDreamRealty.com

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