Retail addicts around the world know the Bal Harbour Shops as one of the greatest destinations in the world — a true Shopper’s Paradise.

Now, truly dedicated shoppers are about to be presented with an opportunity to have this world-class shopping destination…as their neighbor.

Located directly across the street from the shops on Collins Avenue, the St. Regis Bal Harbour Resort will offer the ultimate home base for dedicated shoppers and luxury lovers.

Developed by Starwood Hotels & Resorts, the St. Regis Bal Harbour Resort is located right on the ocean (for those times when you want to concentrate on pursuits other than shopping) at the northern tip of Bal Harbour. It will be made up of three separate, 27-story towers, each housing ultra-luxurious one, two, three and four-bedroom residences complete with huge balconies, floor-to-ceiling windows and amazing views of the Atlantic and the bay.

The 268 residences will share the space with 37 condo-hotel suites, 183 hotel rooms and 24 fractional suites.

Because mundane tasks like grocery shopping, driving and housekeeping take away from valuable shopping time, the St. Regis will offer its lucky residents the same amenities as hotel guests, including grocery shopping service, room service, housekeeping, a chauffeur and more. There’s also a health spa, several swimming pools, sculptures, water features, lush gardens and more.

No wonder these luxury condos and homes start at a cool $1.9 million!

Modern technology will be featured throughout the resort, including a state-of-the-art air conditioning system that uses chilled water instead of heat pumps to cool the air.

It all adds up to a shopaholic’s dream home. But you can’t put one on your AmEx card just yet. While top off of the final tower is just around the corner, construction isn’t scheduled for completion until 2011.

by Lisa Canfield

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

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.

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!

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.

10201 Collins Bal Harbour

A 5.5 Acre site on the world famous Bal Harbour real estate strip just set a historic listing record for the East Coast with a listing price of $225,000,000. This premier location will be only 2 parcels down from the Bal Harbour shops and the new St. Regis Residence & Resort (completion date of 2011). The beachfront parcel located at 10201 Collins Avenue, has 400 feet along the Atlantic Ocean (x 600′ Depth) and now houses an oceanfront country club called Bal Harbour Club (how original) from 1976. Thorpe Sotheby’s International Realty out of Vero Beach is handling the marketing and sale as they are targeting the International buyer’s in the Middle East, Russia, the United Kingdom and Canada and marketing it as qualifying for 675,350 Square Feet of Condominium or Hotel use with restaurant and other uses with rezoning adding another 225,000 Square Feet of buildable space.

“We’re looking for someone with a lot of capital looking to get out of paper investments so they can buy a real estate development asset of this kind of value.” - TCPalm.com

My opinion for highest and best use on this oceanfront land parcel is as a mixed use, high end condominium with retail

Bal Harbour Parcel

space suitable for the Bal Harbour lifestyle and positioned to coincide with the Bal Harbour shops. An oceanfront restaurant is what we need to see with a celebrity name to back it up and a price per square foot to match the condo residences similar to St. Regis Bal Harbour yet without the hotel aspect. I believe St. Regis Bal Harbour Resort will be a great success and there are only so many tourists who will utilize Bal Harbour as a vacation destination instead of the desirable South Beach FL real estate with now an exorbitant amount of hotels. Bal Harbour is missing this key ingredient that may make sense to build after 2011. 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. Have a great week and call any time toll free 1.888.383.7326 or view new condos here.

Bal Harbour Atlantic & Inlet

Well finally a new blog post. I’ve noticed where even the elite bloggers of Miami are slowing down a bit on frequency including the ever so consistent colleague Lucas Lechuga of MiamiCondoInvestments. Could be due to sales and increased business in the last few months which is my excuse and I am blessed to be extremely busy with sales & rentals along Miami Beaches. With this blog posting I wanted to look at the superior oceanfront towers and see what has been selling in the last 90 days and what is likely to sell in the next month or so. If you look at the absolute best of the beaches from Bal Harbour North to Sunny Isles real estate, there is only a handful of premier oceanfront residences based on personal preferences and taste. For those seeking a modern development, One Bal Harbour residences has much to offer with superior Inlet & Atlantic views. We see a total of 8 sales in the last 90 days (MLS results only) ranging from $1.550M (2229 SqFt) to $3M (5262 SqFt). The buildings average days on the market is 197 based on all 8 sales with an average selling price per square foot at $746 and an average asking price per square foot at $955. Today there are 37 One Bal Harbour condos for sale ranging from $599k (515 SqFt) to $6.5M (5262 SqFt) and there is 23% of available inventory. IMPORTANT NOTE: Regent One Bal Harbour operates the hotel suites (18 floors) from the western side while the private residences on the Eastern One Bal Harbour tower (26 floors) are separate from the hotel entryway and pool yet with full access to all amenities including the SPA. There is a private entry and ocean side pool for the residents.

Turnberry Ocean Colony

Moving further North into Sunny Isles Beach we see a superior development consisting of 2 towers known as Turnberry Ocean Colony and consisting of a traditional design with a connecting private restaurant, fitness center, SPA and cocktail lounge. There are 130 private residential units at 37 floors high. There have been 6 closed sales at Turnberry Ocean Colony over the last 90 days ranging from $1.975M (2772 SqFt) to $2.625M (3735 SqFt) and there is 22% of available inventory. The buildings average days on the market is at 279 based on all 6 sales with and average selling price per square foot at $739 and an average asking price per square foot at $783. Active available residences range in price from $1.375M (2235 SqFt) to $4.8M (3735 SqFt). Just 10 blocks north of Turnberry Ocean Colony Condos is the new Jade Beach & Jade Ocean Towers which is a blog post in its own. Simply AMAZING! The architect has created an ultra modern cutting edge design and enabling smart features such as a computer controls built into the residences which handle all aspects from lighting to child care, dry cleaning & valet. Closing have begun and the appraisers are having success on some and difficulties on the other appraisals. I am looking for sellers interested in selling as this condo is a career goal to work towards. Acqualina Sunny Isles Beach is a comparable property that need not be left out…More to Come! Here’s the video:

Acqualina – Watch more Videos at Vodpod.

JADE Beach Condos

Average selling prices at Jade Beach Condos range from $750 to $800 while Jade Ocean supposedly ranges around $1000 to $1100 per square foot and is SOLD OUT as per developer with only a small count of defaults. I am certain that Jade Condos are here to set local area records and there are 3 story penthouses that must be worth $11M+ (I am guessing here). I’m seeing the smallest units appraising above sales prices while the larger units are coming up a couple hundred thousand short ie.) $2M appraisal with a $2.2M sales price..hmmm. Based on outside comparables these larger Jade Beach condo units are under priced for the product being delivered.

Well let’s continue moving north up Sunny Isles Beach and to some I may be stretching it here yet I am overly optimistic on Trump Palace and the soon to be released Trump Royale. Why?… well the number one distinction is the gated entryway suitable for the Russian Mafia to feel protected. It’s one of the most secure buildings around and you must be on “the list” just to make it to the elegant lobby. The second reason I like the Trump Palace and Trump Royale is the proximity to the new A Rated school (K through 8th) and solid retail outlets across the street. The third reason is privacy yet access to the Resort Amenities next door at The Trump International Beach Resort.

Trump Palace

The prices at Trump Palace & Trump Royale today are excellent and we see 7 closed sales in the last 90 days ranging from $680,000 (1348 SqFt) to $1.240M (2143 SqFt). The buildings average days on the market is at 105 based on the 6 closed sales with an average selling price per square foot at $539 and an average asking price per square foot at $672. Active available units at Trump Palacerange from $515k (1197 SqFt) to $3.9M (4200 SqFt) and there is 16% of available inventory.

Best Deals at One Bal Harbour

Best Deals at Turnberry Ocean Colony

Best Deals at JADE Beach

Best Deals at Trump Palace

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. Have a great weekend and call any time toll free 1.888.383.7326 or view new condos here.

I’m simply curious to see the differences in selling price per square foot in various locations along the Miami Dade Beaches. I’m including recent sales data and statistics in South Beach, Miami Beach, Bal Harbour and Sunny Isles. Strictly Oceanfront Condo Sales in Miami Dade County that occurred through the Southeast Florida MLS in the last 30 days.

South Beach real estate shows as having 6 closed sales at an average of 90% sale price to list price ratio. The average selling price per square foot (psf) is at $511. The highest closed sale was at the Bentley Hotel (510 Ocean Drive) selling at $979 psf.

Miami Beach oceanfront condos

Miami Beach FL real estate shows as having 11 closed sales at an average of 90% sale price to list price ratio. The average selling price per square foot (psf) is at $418. The highest closed sale was at the Green Diamond (4775 Collins Avenue) selling at $555 psf.

Miami Beach FL oceanfront condos that have sold…

Bal Harbour real estate shows as having 13 closed sales at an average of 89% sale price to list price ratio. The average selling price per square foot is at $642 (psf). The highest closed sale was at the Bellini Condo (10225 Collins Avenue) selling at $759 psf.

Bal Harbour oceanfront condos that have sold…

Sunny Isles real estate shows as having 16 closed sales at an average of 89% sale price to list price ratio. The average selling price per square foot is at $464 (psf). The highest closed sale was at the Acqualina (17875 Collins Avenue) selling at $638 psf.

Sunny Isles oceanfront condos that have sold…

Feel free to leave a reply or add any additions to this posting!

St Regis Resort & Residences of Bal Harbour real estate has now commenced excavation. The St Regis Resort of Bal Harbour will consist of three towers each at 20+ stories located at the previous Sheraton Hotel across from the infamous Bal Harbour Shops. The 50 year old Sheraton hotel of Bal Harbour has been imploded and excavation crews are now prepared for ground breaking of these luxury condos.

Owned and managed by Starwood (Luxury Collection), the St Regis Resort Hotel has an intended rating of five stars. Only about 10% of the hotels managed by Starwood worldwide receive this esteemed classification. It will soon be the ultra high end resort residence right on the Atlantic Ocean adding to the prestige of Bal Harbour real estate. There will be only 36 condo hotel units while the remaining units will consist of 300 condominium residences along with 219 traditional hotel rooms. Amenities include celebrated St Regis butler service, round the clock concierge service, world class Remede spa, Bellman, Housekeeping, Personal Chef, Pet & Plant Care, Dry Cleaning, Overnight Shoe Shine, Nanny Services, Kid’s programming, Business Services, Grocery Shopping, Newspaper delivery, Preferred theatre & sports tickets, Sculptures with decorative fountains, a fine dining restaurant and more.

Construction on the St Regis Resort & Residences is planned to close units in late 2009 or early 2010 with prices on the condo hotel units beginning at $1.9 million and condominium residences starting at $2 million. This is a rare instance where pre construction of Bal Harbour condos do make sense as a wise investment…  Call toll free at 1.888.383.7326 for more information