Miami Beach WiFi Internet service is finally warming up.

Last week, the city began a soft launch by neighborhood. There will still be a 90 day reliability period. The official wire-cutting was on Friday, October 30 in front of Miami Beach City Hall. Wireless Miami Beach will provide FREE public access to all residents, visitors, and businesses across the City.

For Miami Beach Hot Zones Click Here. It’s now LIVE and FREE!

Added Benefits of WiFi Miami Beach

IBM (Lenovo) offers discounts to residents to purchase IBM equipment at discounted prices. To purchase IBM equipment today, click here.

For assistance using WiFi Miami Beach, please call 305.722.1917.

It used to be that Beverly Hills was the place to go to for the best in celebrity spotting. But today, there are probably as many people selling “Maps to the Stars Homes” in Miami Beach than there are on America’s other coast. The reason? Miami Beach real estate is hot, hot, hot, with the entire Miami area ranking as a top destination for celebs to vacation, winter and even live year round.

So who might you bump into while waiting in line at the local Whole Foods? Well, as you might expect, Miami Sound Machine founder Gloria Estefan and husband Emilio are longtime denizens of the region, making their home on the appropriately named Star Island. Miami Heat basketball legend Shaquille O’Neal is their neighbor, as is comedienne and former talk show queen Rosie O’Donnell. Sean Combs, also known as Puff Daddy, P. Diddy, Diddy and more, also lives here, while hot couple Jay-Z and Beyonce own a property nearby.

Miami Beach is home to singer Ricky Martin, while Lenny Kravitz lived on Sunset Island. Exclusive Fisher Island is home to tennis king Boris Becker and Queen of All Media Oprah Winfrey — who lives there part time in one of the island’s many luxury condos and homes.

If movie stars are more your thing, keep your eyes peeled for Matt Damon and Will Smith, both of whom have purchased properties in the area. Jennifer Lopez and husband Marc Antony live in sizzling South Beach, while father and son musical duo Julio and Enrique Iglesias both call the Miami Beach region home. As does Enrique’s gorgeous girlfriend, Russian tennis star turned model Anna Kournikova. And the list keeps growing, with more celebs snapping up more waterfront and oceanfront condos and homes in this A-list destination.

So the next time you’re out running errands in the neighborhood, keep your eyes open. When you live in Miami, you never know who you’ll spot.

by Lisa Canfield

Mocha Shakes Miami

The mystery begins this year on November 7, 2009, at 6:00 p.m. with the Mocha Shakers Mystery event. This Mystery Dates charity fundraiser is organized by the MOCA Shakers, the museum’s young international patrons. The proceeds will benefit MOCA exhibitions of new and experimental artists.

Expect an evening of art, fabulous food and mystery guests. Festivities start with a party at Museo Vault, a state of the art storage facility located in Wynwood at 349 NW 29 Street, Miami, FL 33127. You can enjoy specialty Grey Goose Vodka cocktails, great music and terrific appetizers.

From there the party moves on to a post modern home in Coral Gables, a MiMO Morningside home,  and then to a beautiful South Beach condominium.  The mystery is what glamour surprise dinner guest will attend each dinner. Guests will learn which dinner they will attend as well, as the festivities move on from there.

Tickets for the event range from $125.00 – $1,000.00. For seating information contact address is http://www.mocanomi.org/mystery-dates/#, and the phone number is 305 893-6211. Chair Persons, Ivonne Ronderos and Erin Newberg.

Experience the Excitement and Beauty of Miami Beach and Surrounding Areas

This is just one of many exciting charity events, festivals and music events held in the Miami Beach and surrounding areas throughout the year. There is also the Miami Beach Dance Festival held in April each year, the Jazz Roots Larry Rosen concert series, and don’t forget the Festival of Miami music festival, which is the opening of Miami’s Art Season.  The festival closes this year on October 30, 2009 at 8:00 p.m at the  Gusman Concert Hall at the University. of Miami Frost School of Music with the “Open Me First” with Jeff Hamilton and John Clayton concert series.

That’s why so many buyers choose to live, work and play here.  International buyers and celebrities recognize that  Miami Beach real estate, South Beach real estate, Bal Harbour real estate, Sunny Isles Beach real estate and Golden Beach real estate is some of the most gorgeous and affordable real estate found anywhere in the world. With luxury condos and homes at today’s affordable prices, there are no better bargains than here.

If you are looking for an international flair with great cuisine, shopping and beaches and a luxurious and exciting Florida lifestyle, you won’t be disappointed by the many area attractions, outstanding architecture and beautiful eco surroundings of the Miami Beach, South Beach, Bal Harbour, Sunny Isles Beach and Golden Beach areas.

Bal Harbour is a lot like the rest of the Miami Beach area.

It’s packed with plenty of luxury condos and homes, including waterfront and oceanfront condos. It’s got sunny skies, white, sandy beaches, warm turquoise waters and cool ocean breezes, along with plenty of beautiful people. In other words, it’s paradise.

But all that idyllic, outdoorsy stuff isn’t the only reason people think of Bal Harbour as heaven on earth.

For some people, the best, most wonderful, most amazing thing about Bal Harbour…is a mall.

But then again, the world-famous Bal Harbour Shops isn’t just any mall. There’s not an Old Navy in sight. There’s no food court offering greasy pizza or fast food. And the only Gap in the place is for kids.

Instead, the Bal Harbour Shops is a very different kind of mall. Think less “mall” and more “temple.” If shopping is your passion, a visit to the Bal Harbour Shops is more like a pilgrimage than a shopping trip — kind of like taking in the Sistine Chapel, the Pyramids and the Taj Mahal all at once.

The reason? The Bal Harbour Shops is a mecca devoted solely to the very best in fashion. Anchored by top end department stores Saks Fifth Avenue and Nieman Marcus, this collection of over 80 shops reads like a Who’s Who of the biggest names in design – from (dare I say it?) Armani to Zegna.

While prices are all definitely perched at the high end of the spectrum, there’s something for just about every taste, with legendary brands like Chanel, Dior, Prada and Versace standing side by side with new industry stars like Tory Burch and Custo Barcelona. There are jewelry stores like Bulgari and Tiffany, shoe stores including Jimmy Choo and Tod’s, and just about everything else a fashionista could ever desire.

Okay — except, maybe, a bargain.

by Lisa Canfield

Miami Beach Art Basel 2009

The popular four day Miami Beach contemporary Art Basel show will be held this year on December 3-9 at the Miami convention center. The festivities have grown into a week-long celebration and an international meeting place. You will find festival exhibitions, music, and film events sprawling from South Beach to the Miami Design Center. What better place to hold an international art festival than Miami Beach with its perfect climate, gorgeous beaches, art deco architecture, some of the best cuisine in the world, chic boutiques and so much more!

Since it debuted in 2002, Art Basel, the sister event of Switzerland’s Art Basel, has attracted art lovers and art curators and dealers from all over the world. It is the largest art festival in the country. This year, expect to find more than 250 international art galleries participating in the festival from North America, Latin America, Europe, Asia and Africa. The show ranks as the third largest show at the convention center, along with the car expo and the boat show. The 2009 event will feature 20^th and 21^st century artworks from more than 2,000 artists. Mark your calendars so you don’t miss this spectacular event!

Life Styles of the Rich and Famous at Affordable Prices

Miami Beach’s melting pot of nationalities attracts visitors not only to its many cultural and tourist attractions, but also to its resort style living featuring luxury waterfront/oceanfront condos and homes. With miles of gorgeous beaches, world class golf courses, international fine dining, fishing and diving, there is something for everyone. It is a favorite vacation, second home and retirement destination to millions of people worldwide. Miami Beach real estate and the surrounding South Beach real estate offer some of the most desirable real estate in the world. So if you are looking for a lifestyle of the rich and famous at today’s affordable prices, look no further. With its close proximity to Latin America, the Caribbean, Europe and Canada, you can see why Miami Beach attracts so many buyers to its luxury condos and homes.

Miami Beach Auto Show

I spent the afternoon yesterday walking around the South Florida International Auto Show and was stunned by the concept Caddy which runs for 40 miles on electric and has a backup generator holding 5 gallons which will provide hundreds of miles on 1 tank. This car is amazing as was the show…

Chevrolet Camaro

Interactive Race

See a lot more of the Cars here on Flickr Photos.

For more information or to see the SoFl Auto Show schedule click here.

Leave Your Luxury Condos and Homes behind and Celebrate Halloween – Miami Beach Style!

Okay, so there’s no chill in the air, no leaves falling, no howling wind whipping through the trees (not that we don’t get a few of those a little earlier in the year). But here in the Miami Beach area, we don’t need the traditional trappings of fall to do Halloween right.

In fact, despite the absence of a layer of ice on our pumpkin patches, dare I say that we do Halloween better than anyplace else in the country?

Here’s a brief rundown of how to celebrate the spooky season in style.

Since you’ll likely be spending the night pigging out on treats (and not necessarily the candy variety), have a healthy Halloween morning by running in the Miami Beach Halloween Half Marathon! Not only does the race give you a head start on burning the day’s calories, it also gives you an opportunity to score some great prizes for running in costume.

If you have kids, swing by the Miami Beach Botanical Garden for Halloween Family Day for a few hours of pumpkin carving and other seasonal arts and crafts. Or, head south to the MetroZoo for the annual MetroBoo! Party at the zoo.

Of course, after hours is when the holiday really heats up, and nowhere more so than in South Beach. Halloween in SoBe isn’t about trick or treating – it’s more about treats for the over-21 set. There’s the official Playboy Halloween Party, with a bevy of bunnies and a sprinkling of centerfolds, at the Shore Club. While for those who prefer their adult entertainment to be scary rather than sexy, Mansion will host the release party for the latest “Saw” movie all weekend long at the House of Jigsaw Halloween Weekend. Or if theme parties are more your thing, pull out your best 1920’s attire for the Raleigh’s speakeasy-themed Cat’s Meow party.

Of course, all this partying may have a downside. With no one home to pass out candy to the trick or treaters, don’t be surprised if a lot of prime South Beach real estate gets egged on Saturday night!

by Lisa Canfield

Another reason why Miami Beach Real Estate is so sought after…

It’s more than just the opportunity to live next to endless white sand beaches, to warm, turquoise blue water and to beautiful scenery as far as the eye can see.

(And yes, by beautiful scenery I do mean unbelievably great-looking people wearing the smallest amount of clothing imaginable.)

It ‘s more than just for the most amazing nightlife, restaurants, club scene and people watching in the whole U S of A.

It‘s more than that. It’s for the CULTURE.

I’m serious. You can stop laughing now.

For those of you who think Miami Beach is all about seeing and being seen, that it’s a city just for the shallow and beautiful, I have reason to beg to differ.

That reason is Sleepless Night.

This November 7, the City of Miami Beach will celebrate what is being referred to as “the ultimate cultural all-nighter” – a free extravaganza of the arts lasting from six at night until seven the next morning. There’ll be a total of more than 130 events and 80 different destinations in indoor and outdoor locations across the city.

You can expect to see all kinds of art designed especially to be seen at night – which is bound to be incredibly cool – including animation, digital drawings, interactive films and more amazing and bizarre stuff you can’t hang on your living room wall. There’ll be more traditional art at indoor locations – maybe even some stuff you CAN hang on your living room wall. Plus music, poetry, comedy, acrobatics and a range of live performances you’ll basically have to see to believe.

Sleepless Night is sure to be the kind of wild, all-night party only Miami Beach can throw, but it’s not about drinking, or dancing, or decadence of any kind. Instead, it’s a celebration all about culture with a capital “C.”

Just one more reason Miami Beach Real Estate remains too hot to cool down!

by Lisa Canfield

 At one of Florida’s largest land sales in years, Miami based Fortune International Realty and Sonesta International Hotels Corporation of Boston sold a 10.3 acre site for $7.5M per acre or $1,738 per square foot to Argentine Developer Consultatio S.A. in what was previously ready for a 300 room eight story Sonesta Beach Resort. This superior oceanfront land sale located in Key Biscayne, contains over 500 linear feet of coastline. This reinforces how the International community views greater Miami as a very strong venue for long term real estate investments. It also shows the direction the Miami real estate has gone over the last 4 years as in 2005, this 37 year old property at Key Biscayne, FL, carried a $120 million price tag for a 35% discount.

 Regarding Fortunes misfortunes, the third largest developer in South Florida is suing the insurance company (Allianz Global Risk Insurance Co.) of Jade Beach Condos for the fire on the 39th floor which caused a 104 day delay as per Fortune Beach LLC. Allianz Global claims the fire related problems only made up for 12 days delay. As a result, Allianz paid Fortune only $522,156 which is significantly less than what was expected.

Fortune was the third-largest residential developer in the South Florida Business Journal’s 2009 Book of Lists, with $563 million in sales for 2007, trailing only the Related Groupand Lennar Corp. Its other projects include Jade at Brickell Bay and Jade Ocean. - Triangle Business Journal

Click here to read the lawsuit.

 In another setback,  Defortuna of the Fortune Empire, is named in a $67 million foreclosure lawsuit against the former 12 story Seville Hotel South Beach, which he had hoped to also redevelop. The three acre, 278,547 square foot hotel at 2901 Collins Avenue, was purchased for $25 million by 2901 Beach Ventures in 2005. According to Fortune International’s Website, the Ritz-Carlton Residences and Club was to have 89 units completed in 2010. The property’s mortgage balance is $56 million.

And lastly, everyone wants to know what will come of JADE Ocean from Corus bank troubles…

 I foresee Fortune International holding strong as this market begins to show obvious signs of improvement. Fortune International’s last published sales volume was $563 million in 2007 so I believe he’s playing his hand in the real world of Miami monopoly. To be continued…

by jenny downing (on the run)

With an artist line up that will bring cool jazz to the beautiful city, the Sunny Isles Beach Jazz Festival will come back for the 2nd year on October 16th through the 18th.

The event, produced by the City of Sunny Isles Beach in partnership with the Sunny Isles Beach Resort Association, will benefit Joshua’s Heart Foundation. Performing will be featuring world renowned jazz entertainers, notable local jazz artists and several illustrious music groups from major universities around the South Florida area.

For more information on the Sunny Isles Beach Jazz Fest or for an updated list of scheduled artists performing visit the website at www.sunnyislesbeachmiami.com or email Ibis Romero at ibis@iimaginmedia.com.  Also visit http://sunnyislesbeachjazz.com for additional details on this event.

New ways are being created to impress tourists and locals with the opening of the Sunny Isles  Beach Visitors Center located in the Sunny Isles Beach Government Center at 18070 Collins Avenue. Staff members will be there to answer questions on what to do, where to eat, shop & party while visiting this popular tourist town. Maps & brochures of all Miami attractions are free to the public with expert local assistance on the ideal hotel or restaurant to suit your needs. Sunny Isles Beach now has over 10 hotels and 20+ restaurants with a world cuisine available. Information is also provided on the local shuttle bus which will span Collins Avenue offering the public free transportation. There are plans in the works which will soon be running a free shuttle into South Beach for additional Miami Beach fun.

The visitors center will also be selling Sunny Isles Beach merchandise including T-shirts, travel clocks, beach towels, and posters of this great city. For rainy days stop in for a cool Sunny Isles Beach umbrella! The visitors center doubles as a welcome center for new residents and a mecca for history fans wanting to learn all they can about Sunny Isles Beach. This new visitors center is open Monday through Saturday from 10-4pm and located on the west side of Collins & 180th Street. For information, call 305.792.1952 or stop in and say hello!

“In partnership with the Greater Miami Convention and Visitors Bureau, the visitor center also sells The Go Miami Card — an all-attractions pass that allows entry into some of Miami’s touristy spots like the Metro Zoo, Miami Seaquarium, Vizcaya and Jungle Island.” - artcle via MiamiHerald

Bal Harbour residents have long advocated for improvements to their beach, which has shrunk to small dunes in some places thanks to natural erosion and several active hurricane seasons.

Bal Harbour real estate is placing a band-aid on its beaches which have seen major erosion in the past few years. Currently the replenishment project is underway with the city dumping money ($8.2 million!) and truck loads of sand to assist prior to the hurricane season in an effort to remedy the problem and prepare for any additional erosion. Congress woman Ileana Ros-Lehtinen has been working diligently with the US Army Corps of Engineers to allow foreign sand to be brought in thus speeding up the re-nourishing process. Last week, one of many Caterpillar trucks hauling beach quality sand from Orlando to Miami Dade began dumping it’s cargo on Bal Harbour’s beach. The sand is being dumped to add height and width to beaches in Bal Harbour, Sunny Isles Beach and Miami Beach. State and county funds are being used for the re-nourishment project, which will cost an estimated $10 million and expected to last six more weeks. The beaches are open to the public except for the immediate areas where dumping is taking place.

Are you a resident concerned on the erosion of Bal Harbour? I’ve noticed Bal Harbour beaches have it the worst out of all Miami Dade Beaches with very little room for additional erosion as you can see in the picture above. An additional concern is seeking quality sand and where this source may be found. Let the readers hear your thoughts and suggestions on the erosion remedy.. Inquiring minds would like to know!

Sunny Isles Beach Florida's Riviera

The City of Sunny Isles has flourished in recent years as new Sunny Isles real estate projects have aided in the renaissance including Trump’s 6 towers, Turnberry Ocean Colony, Acqualina, Jade Ocean, Jade Beach, Ocean Four, III, II, I, Sayan, Pinnacle, La Perla and many others evolving since the late 90′s. Luxury oceanfront condos and luxury resorts span the entire coastline now while in recent years, this desirable location has seen an increase in European, Latin American, Canada and Russian visitors and residents, as well as younger residents with an upscale living environment. Sunny Isles Beach offers everything from beautiful sandy beaches and world class resorts & spas to great shopping and dining. Visitors and residents enjoy the best of both worlds having traditional conveniences and the friendliness of a small town, with the sophistication & perks of a major metro area plus the fun of being right on the beach. Today, Sunny Isles Beach is a top travel destination in the U.S. offering both luxury resort vacations as well as affordable family vacations. Local residents and tourists alike can hop over the William Lehman Causeway to discover one of the Nations top grossing shopping destinations, the Aventura Mall or drive 10 minutes south into Bal Harbour for a taste of premier shopping boutiques including Saks, Chanel, Escada, Prada, Hermes, Christian Dior, Giorgio Armani and many more at the Bal Harbour Shops. Great restaurants in Sunny Isles are abundant with Neomi’s at the Trump Beach Resort, Kitchen 305 at Newport Hotel, The Pelican at the Pier (oceanfront at 166th Street), Lotus (Russian!), San Telmo (Argentinian!), La Terrazza (Italian!) and sooo many others. Come visit Miami for a temporary vacation stay or look to find a great condo deal now being acquired for new savvy buyers looking to call Sunny Isles Beach home.

Click here to explore Sunny Isles Beach condos or call toll free 1.888.383.7326 for related information.

Lookout South Beach for the unveiling of South Pointe Park!! This Sunday at 3pm, the city of Miami Beach will be officially opening this exceptional park location again after a multi million dollar renovation. After 2+ years and over $22 million in renovations, this park will be a huge draw for locals and tourists alike. One of the countries world renowned parks, South Pointe Park consists of roughly 17 acres with a face lift including hundreds of new trees, grass that thrives on salt water, a boardwalk made of seashells, serpentine walkways, interactive water features and new public “playground” facilities with elevated promenades offering the very best views of Government Cut, South Beach & Fisher Island.

Come out to 1 Washington Avenue this Sunday from 3pm until dusk and see what all the excitement is about with free musical entertainment, refreshments and children’s activities! South Pointe Park will offer something for everyone~ It’s going to be a gorgeous day park so mark your calendars and don’t miss it.

View South Beach FL Condos for sale here or call 1.888.383.7326

Shutterbugs and the passionate photographers, come and play on South Beach March 22nd for the 5th annual South Beach Photomarathon! This year the first clue is given out at 11am and the photographer can use their creativity to photograph related content. A clue will be given out meant to inspire interpretations of the subject. Last years clues were: Green, Refreshing, Wild, Style and Only on South Beach. Each hour a new clue will be given out and the event runs until 4pm that afternoon. The participants who register before March 13th get a discount on the entrance fee… read more here on the South Beach Photomarathon.

The competition allows amateurs and professionals a chance to show the sandy beaches, colorful characters and eclectic architecture in a different light. ”We want people to gain an interest in the art of photography and develop their creativity through the event. ‘Our main focus is creativity and we want people to have fun,” said Chendo Perez, president of Fotomission, the nonprofit organization that organizes the event.

Anyone from amateurs to professionals are asked to come out for a good cause supporting a portion of the proceeds go to Waiting Exhibition, which features artistic photos of foster children. Photographers may use any camera whether digital or film with participants having the chance to go around South Beaches culturally rich atmosphere and use there creativity.  Any type of transportation is allowed and the day concludes at The Miami Beach Botanical Gardens where you turn in your film or digital camera card at 4pm. You have the ability to share your story (or listen) on how you captured your images at the cocktail party that evening. Last year 100 people took part in this event with the top 25 entries featured in the Tropicolor Gallery in MAY. There will also be prizes for the top three contestants.

Expect a diverse crowd both young & old with an amazing day of photography! Register here. I thought of finding a video to represent the South Beach Photomarathon but decided it was an oxymoron. This blog post inspired by The Miami Herald here.

According to statistics recently released by the Greater Miami Convention and Visitors Bureau, people are still coming to Miami to spend their travel and leisure dollars. Although hotel occupancy and rates declined in January 2009, Smith Travel Research reports that for the month of January 2009, Miami ranked second in hotel room occupancy at 68.3%. Miami also ranked third in average daily room rate (ADR), at $177.50 among the Top 25 Hotel Markets in the U.S. despite declines in occupancy and room rate. Miami Is Still A Highly Desirable Destination For Today’s Traveler. (by RAMB)

During this same time period, all but one of the Top 25 Hotel Markets in the U.S. reported declines in occupancy and room rate. Due to high demand during the Presidential Inauguration, only Washington, DC experienced an increase in January.

Occupancy (January 2009) TOP 5 MARKETS:
% Full
% Change vs. 2008

1. Oahu Island
69.6%
-9.40%

2. MIAMI
68.30%
-11.20%

3. Orlando
60.60%
-7.80%

4. New York
59.50%
-16.10%

5. Houston
59.20%
-0.80%

I love old videos.. This one is from 1983!

For well priced Miami Beach Vacation Rentals directly on Ocean Drive, visit SouthBeachVacationRentals.us or call 1.888.383.7326 ext.2

Edition #3 of the 2009 Sunny Isles Beach Condo Index. We will be comparing the luxury oceanfront market from the 1st Quarter Sunny Isles Condo Index to today’s updated 1Q 2009 Sunny Isles Condo Index including premier luxury towers such as Turnberry Ocean Colony, Acqualina, JADE Beach, Trump Palace, Trump Royale, Trump Towers I, II & III, Ocean 4, Sayan and a few select others. For various reasons, I’ve left out excluded other great residential oceanfront towers from this Index such as Ocean III, Ocean II, Pinnacle, Millennium and the oceanfront condo hotel properties including the Trump International Resort, Le Meridian (M Resort) and the newest Sonesta Sole.

I believe it best to analyze the local entities instead of feeding into the media’s fear of the National real estate market or even the reports on Miami Dade County. WHY? When you check the temperature outside, do you look at the National temperature or do you look at YOUR local temperature? That’s right and same with local real estate markets… not even Miami in general but instead, it’s dependant on the Sunny Isles Beach ”Local Market” and this is what I relay herein the Miami Beach Real Estate Blog so check back often for new condo updates in the entities of Bal Harbour, North Bay Village, Miami Beach & SoBe. Last year was a record year for business with luxury sales in Trump Palace (4806) and Turnberry Ocean Colony (2401), an invitation to the Million Dollar Guild (CLHMS) and the creation of JadeCondosSunnyIsles.com. Miami Dade seems to have set the National trend of a downward real estate market back in 4Q 2005 and we are now in the 4th year of a depreciating market seeing approximately 35 to 40% depreciated real estate values and in some buildings more. On the flipside, total entity inventory is decreasing month over month slowly since early 2008 (although in insignificant numbers).

On to the Sunny Isles 1Q 2009 Condo Index… As of today we are noting 1,469 total condos for sale in Sunny Isles Beach. This year, there have been 52 total closed sales (ALL figures are derived from the Multiple Listing Service MLS on February 24th, 2009). What we will be analyzed in this post are statistics and trends for the most desirable luxury towers along Sunny Isles Beaches.

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 | 29 of 247 or 12% | Ave List Price $2.470M | Ave PPSF $805
• JADE Beach- 17001 Collins Avenue | 26 of 248 or 10% | Ave List Price $1.428M | Ave PPSF $700
• JADE Ocean- 17121 Collins Avenue | Released 1Q 2009 with No MLS records
• Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 24 of 130 or 18%| Ave List Price $2.185M | Ave PPSF $734
• Turnberry Ocean Colony South Tower- 16047 Collins Avenue | 32 of 130 or 25% | Ave List Price $2.234M | Ave PPSF $749
• Trump Palace- 18101 Collins Avenue | 54 of 275 or 20% | Ave List Price $1.188M | Ave PPSF $635
• Trump Royale (Just Released NOV08) – 18201 Collins Avenue | 15 of 275 or 5% | Ave list Price $782,700 | Ave PPSF $513
• Trump Tower I- 16001 Collins Avenue | 37 of 271 or 14% | Ave List Price $1.267M | Ave PPSF $524
• Trump Tower II – 15901 Collins Avenue | 13 of 271 or 5% | Ave List Price $1.296 | Ave PPSF $575
• Trump Tower III – 15850 Collins Avenue | Released 1Q 2009 with No MLS records
• Sayan- 16275 Collins Avenue | 20 of 88 or 23% | Ave List Price $983k | Ave PPSF $481
• Ocean Four – 17201 Collins Avenue | 69 of 281 or 25% | Ave List Price $1.056M | Ave PPSF $512
• La Perla- 16699 Collins Avenue | 47 of 326 or 14%| Ave List Price $636k| 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 | 6 Closed Sales at $627 PPSF (6% decrease since 1Q 2008) | 94% SP/LP | 256 DOM
• JADE Beach- 17001 Collins Avenue | Just Released with No Closed MLS Sales
• JADE Ocean- 17121 Collins Avenue | Released 1Q 2009 with No Closed MLS Sales
• Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 4 Closed Sales at $527 PSF (25% decrease since 1Q 2008) | 83% SP/LP | 224 DOM
• Turnberry Ocean Colony South Tower- 16047 Collins Avenue | 3 Closed Sales at $671 PSF (6% increase since 1Q 2008) | 90% SP/LP | 189 DOM
• Trump Palace- 18101 Collins Avenue | 12 Closed Sales at $555 PSF (4% increase since 1Q 2008)| 90% SP/LP | 85 DOM
• Trump Royale – 18201 Collins Avenue | Just Released in NOV08 with No Closed MLS Sales
• Trump Tower I- 16001 Collins Avenue | 1 Closed Sales at $399 PSF | 98% SP/LP | 127 DOM
• Trump Tower II – 15901 Collins Avenue | Just Released with No Closed MLS Sales
• Trump Tower III – 15850 Collins Avenue | Released 1Q 2009 w/No Closed MLS Sales
• Sayan- 16275 Collins Avenue | 1 Closed Sale at $389 PSF (10% decrease since 1Q 2008) | 78% SP/LP | 220 DOM
• Ocean Four – 17201 Collins Avenue | 5 Closed Sales at $387 PSF (20% decrease since 1Q 2008) | 93% SP/LP | 184 DOM
• La Perla- 16699 Collins Avenue | 5 Closed Sales at $360 PSF (13% decrease since 1Q 2008) | 91% SP/LP | 307 DOM

Executive Summary-

Taking only the above luxury oceanfront towers into account, we see an average selling price per square foot for Sunny Isles Beach real estate reduced to $489 ($524 1Q) psf “oceanfront” VS. an average asking price of $604 ($603 1Q) psf for a $1 psf increase since 1 Quarter 2008. Simply put, a 7% reduction in selling price per square foot since the previous 1st quarter 2008… we see an average ‘asking’ price per square foot at $604 with a  ’selling’ price per square foot for Sunny Isles Beach real estate at $489 psf for a $115 psf (19%) difference in selling price from the asking price.

Average Days On Market is showing an average closing time of 199 DOM or 6.63 months to sell compared to 170 DOM 1st Quarter 2008 or 5.68 months to sell an oceanfront condo for a 1 month increase. In looking at the health of a building we first look at available inventory. I typically relay a healthy inventory level of  less than 15%. We see unhealthy inventory levels in the majority of these new luxury oceanfront towers. Inventory has increased in the premier luxury towers of Sunny Isles including Turnberry Ocean Colony (both N & S Towers), Trump Palace, Sayan and Ocean 4. On a positive note, Trump Palace is still trading a lot of real estate with, in my opinion, the best building for the value (Gated. Established. Resort Access. Location.). Trump Palace also sells the fastest with an average of only 85 days on the market when priced correctly.

Any questions please ask and I am fallible although I went through MLS numbers over 5 times to confirm. 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. 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 selection & leverage. 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 all new information for JADE Beach & JADE Ocean! Have a great week and call any time toll free 1.888.383.7326 or view new luxury condos here. South Beach to Sunny Isles Real Estate Sales & Marketing.

Art Deco Film Crew

Art Deco Weekend ended up being a great turn out with a perfect 75 degree day in January! Here are a few of my favorite photos from this exciting weekend…

The South Beach Art Deco weekend is a yearly South Florida festival that features the best is music, art and more associated with this old “Deco” style.  Art Deco is a style that is inspired by the early 20th century art and architecture of European countries like France and Germany first becoming popular in the United States during the 30′s. Its unique designs are instantly recognizable and truly define Miami Beach.

The term Art Deco was coined in the 80′s to define the styles that were becoming popular in Miami Beach at the time. Some of the qualities that would typically define Art Deco are curved edges and corners, neon lighting and round porthole windows. Held each year in January, the South Beach Art Deco weekend allows the residents of South Florida as well as visitors, the opportunity to buy unique pieces of art to add to their collections. The pieces are sold at auctions and include restored classics. People who are looking to purchase these pieces can attend a wide variety of lectures and talks designed to teach them all about the works. People attending the Art Deco weekend can also expect to be treated to performances of some of the best music from the 1930′s Broadway era that is associated with the art deco style.  (continue reading…)

Harbour House 10275 Collins Ave.

News came through South Florida Business Journal that the Related Group managed a bulk sale of 101 condo units at the desirable Harbour House. A package deal that came together for each party at a $27M ticket price and included a nice mix of 101 Bal Harbour oceanfront condos at the legendary Harbour House… This translates to ~$270 psf in 2009 values whereas in 2007 (only 1 sale at $849 psf) these condo conversion asking prices were at $601 psf  while in 2008 (only 4 sales), asking prices averaged $596 psf while closed sale prices averaged $464 psf or a 55% drop in market values since 07.

“Units in the beachfront condo conversion sold for an average of $268,000, or about half of what Related sold 276 units for in 2007. Related Group CEO Jorge Perez helped close another bulk deal in one of his buildings last year. He launched a buying fund that made two deals in the 528 unit 50 Biscayne, which Related built in partnership with Atlanta based Cousins Properties. That bulk deal sold out the project and closed out its loan.”

Today via MLS, there are 87 condos for sale out of 457 (19% inventory) in the new Harbour House condos with an average asking price at $600 psf with prices ranging from $250,000 (0/1 at 530 SqFt) to $1.125M (2/2.5 at 1462 SqFt.). Today, there is only 1 Harbour House condo under contract with an asking price at $550,000 (7th Floor 2/2). I would imagine the smart investor who made this bulk purchase will be placing these Harbour House condo units back on the market at an incredible prices based on “new” building values and location.  Whether it be for rent or for sale, we should see excellent pricing in one of my favorite condominiums of Bal Harbour. Please keep in mind this buyer had far more leverage with a bulk sale and even today Bal Harbour SOLD market values average $476 psf for the last 90 days!

If you don’t know the Harbour House of Bal Harbour, it was built in 1964 and converted in 2005 to an amazing redevelopment of an iconic building. The resort style amenities are endless with a movie theater, sports lounge, tiki bar, heated oceanside pool, beach service, billiards room, SPA (massage & steam), juice bar, restaurant, concierge, valet and an amazing fitness center with pilates, aerobics & personal trainers.

Harbour House Billiards Room

Let us know what you think?!?! South Beach to Sunny Isles Real Estate Consultant, Micro Economist. If you’re thinking of placing your luxury condo residence on the market, contact me for a marketing overview and pricing band analysis to determine the proper selling price and get started with marketing. If you’d like to receive the latest local real estate news via blog postings & updates, you can easily be notified by RSS feed (see upper left column) or by email above every time a new posting occurs. The new JADE Condos Sunny Isles.com website & Blog is now available! Have a great week and call any time toll free 1.888.383.7326 or view new condos here.