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!

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 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!

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.

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.

Paramount Beach

In the last 6 years, We’ve watched the great majority of new modern towers being completed along Sunny Isles Beach with a few of my favorites including JADE Beach & JADE Ocean Condos, Trump Towers I, II, III, Sayan, Turnberry Ocean Colony, Trump Royale, Trump Palace and the Trump Int’l Beach Resort, and with so many great buildings, only a few along the ocean that have gone belly up. The first being the Da Vinci parcel sale & cancellation and now the unexpected news of Paramount Beach (Not to be confused with Paramount BAY). iStar FM Loans filed a foreclosure lawsuit against the developer a few days before Christmas.

Reported in the South Florida Business Journal on January 2nd, 2009the Paramount Beach condos beachfront site has a foreclosure filing in Miami Dade County Circuit Court against Boca Raton based Sunny Isles Development Co., a corporation owned by the executives of Royal Palm Homes plus several other investors, which owns the site.

Sunny Isles Development bought the site for $25 million in 2003 and took out a $32.2 million mortgage with Fremont Investment and Loan, which later assigned much of its portfolio to iStar.

Daniel Kodsi, CEO of Royal Palm and a partner in the ownership of the Paramount Beach site, said the developer purposefully stopped paying interest on the iStar loan because the lender was being inflexible in offering a renewal. Even after getting an offer for a construction loan, the developers canceled the Paramount Beach project in 2006 because there was too much building in the market, Kodsi said.

My opinions: They were smart to cease the Paramount Beach project from being erected. They were set to go up just south of the new luxury developments JADE Beach & JADE Ocean Condos (tough competition) but with pre construction pricing starting too late in the game for a sell out. I remember the hype only starting at the very end of the real estate frenzy. They were smart enough to see what was happening along the Miami oceanfront real estate market and decided to hold this premier land parcel.  If the Bal Harbour land parcel is “supposedly” worth $225 Million and closes anywhere within a fraction of the asking price, then this Sunny Isles Beach land will be well worth the long term hold.

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. 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 is now available! Have a great week and call any time toll free 1.888.383.7326 or view new oceanfront condos here.

Sunny Isles Beach Pier

Edition #2 of the 2008 Sunny Isles Beach Condo Index. We will be comparing the luxury oceanfront market from the 1st Quarter Sunny Isles Condo Indexto today’s updated 4Q 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, and a few select others. For various reasons, I’ve left out 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.  Sunny Isles Beach

This year has been exceptionally good for my business with record luxury sales, an invitation to the Million Dollar Guild (CLHMS) and what I believe to be a slow turn around in our “local” market. WHY? Well Miami Dade seems to have set the National trend of a downward real estate market back in 4Q 2005. We are now in the 3rd year of a depreciating market seeing approximately 35 to 40% depreciated real estate values. Inventory has decreased month over month from 2008 (although insignificant numbers). We also expect to set the National trend for a real estate turn around! In the next blog posting I’ll be elaborating a bit more on this potential turn around including the Sunny Isles Beach, Bal Harbour, Miami Beach, North Bay Village real estate and South Beach FL real estate “Micro” Markets which the Media Drive By’s fail to separate each entity from Miami as a whole. From a Miami Beach micro economists view point, we must 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… it’s dependant on the Sunny Isles Local Market Conditions and this is what I am relaying herein the Miami Beach Real Estate Blog Posts so check back often.

On to the Sunny Isles 4Q 2008 Condo Index… As of today we are noting 1560 total condos for sale in Sunny Isles Beach. This year, there have been 481total closed sales (ALL figures are derived from the Multiple Listing Service MLS on November 30th). What we will be analyzing 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 on the MLS.

• Acqualina- 17875 Collins Avenue | 27 of 247 or 11% | Ave List Price $2.954 | Ave PPSF $847
• JADE Beach- 17001 Collins Avenue | 22 of 248 or 9% | Ave List Price $1.489 | Ave PPSF $696
• JADE Ocean- 17121 Collins Avenue | Released 1Q 2009 with No MLS records
• Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 25 of 130 or 19% | Ave List Price $2.341 | Ave PPSF $785
• Turnberry Ocean Colony South Tower- 16047 Collins Avenue | 34 of 130 or 26% | Ave List Price $2.261 | Ave PPSF $770
• Trump Palace- 18101 Collins Avenue | 42 of 275 or 15% | Ave List Price $1.244 | Ave PPSF $683
• Trump Royale (Just Released) – 18201 Collins Avenue | 2 of 275 or 1% | Ave list Price $854K | Ave PPSF $466
• Trump Tower I- 16001 Collins Avenue | 34 of 271 or 13% | Ave List Price $1.230 | Ave PPSF $543
• Trump Tower II – 15901 Collins Avenue | 15 of 271 or 6% | Ave List Price $1.215 | Ave PPSF $568
• Trump Tower III – 15850 Collins Avenue | Released 1Q 2009 with No MLS records
• Sayan- 16275 Collins Avenue | 25 of 88 or 28% | Ave List Price $1.210 | Ave PPSF $520
• Ocean Four – 17201 Collins Avenue | 75 of 281 or 27% | Ave List Price $1.068 | Ave PPSF $518
• La Perla- 16699 Collins Avenue | 56 of 326 or 17% | Ave List Price $661K | Ave PPSF $435

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 | 8 Closed Sales at $602 PPSF (10% decrease since 1Q) | 92% SP/LP | 314 DOM
• JADE Beach – 17001 Collins Avenue | Just Released this month with No Closed Sales
• JADE Ocean- 17121 Collins Avenue | Released 1Q 2009 with No Closed MLS Sales
• Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 6 Closed Sales at $637 PSF (9% decrease since 1Q) | 83% SP/LP | 274 DOM
• Turnberry Ocean Colony South Tower- 16047 Collins Avenue | 4 Closed Sales at $784 PSF (20% INCREASE since 1Q) | 103% SP/LP | 147 DOM
• Trump Palace- 18101 Collins Avenue | 13 Closed Sales at $537 PSF (1% INCREASE)| 90% SP/LP | 116 DOM
• Trump Royale – 18201 Collins Avenue | Just Released this month with No Closed Sales
• Trump Tower I- 16001 Collins Avenue | 2 Closed Sales at $419 PSF | 96.5% SP/LP | 155 DOM
• Trump Tower II – 15901 Collins Avenue | Just Released with No Closed MLS Sales
• Trump Tower III – 15850 Collins Avenue | Released 1Q 2009 with No Closed MLS Sales
• Sayan- 16275 Collins Avenue | 1 Closed Sale at $388 PSF (10% decrease since 1Q) | 77% SP/LP | 220 DOM
• Ocean Four – 17201 Collins Avenue | 6 Closed Sales at $442 PSF (8% decrease since 1Q) | 91% SP/LP | 232 DOM
• La Perla- 16699 Collins Avenue | 14 Closed Sales at $403 PSF (2% decrease since 1Q) | 94.9% SP/LP | 190 DOM

Executive Summary- 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 a unhealthy inventory levels in Sayan (28%), Ocean 4 (27%) and surprisingly in the South Tower of Turnberry Ocean Colony (26%). On the flipside, Trump Tower I looks somewhat healthy at only 13% inventory available for sale. In contrast to 1Q Sunny Isles Condo Index, we see Turnberry Ocean Colony and Trump Palace increasing in selling price per square foot (Could there have been mortgage fraud at Turnberry Ocean Colony with a recent sale at 130% of list price?). These number’s are skewed… Taking these luxury oceanfront towers into account, we see an average asking price per square foot at $621 with a  selling price per square foot for Sunny Isles Beach real estate at $526.50psf for a $94.50psf difference from the asking price. Average Days On Market is at 206 DOM or 6.87 months to sell compared to 177 DOM or 5.9 months to sell for an increase of 1 month additional selling time.

• Overall, it appears we are averaging 2.57% depreciation for the year.
• 85% Sale to List Price Ratios
• Days On Market DOM has increased from 177 to 206 Days to Sell (14% more marketing time)

South Beach to Sunny Isles Real Estate Consultant, Micro Economist. 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 is now available! 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.

What a beautiful City of Sunny Isles Beach, FL. Our Sunny Isles real estate flight begins with the new Trump Towers I, II & III onto the prestigious Turnberry Ocean Colony Towers South and North (16047 & 16051 Collins) lookout for Sayan which looks so small in comparison yet has the most majestic interior waterfall… Is it Oceania Towers I, II & III next? I should know but they have been less desirable. The new tower La Perla (16699 Collins) is found right at the Newport Beach Pier of which the City is supposed to pour money into revitalizing the famous fishing spot. This small tower Sands Pointe, found just south of the MAJESTIC JADE Towers (Jade Ocean & Jade Beach). Let me pause this story by mentioning how incredible Jade Ocean & Jade Beach will be! I’m very excited to finally see and promote the superior project due 4th quarter this year.

Okay back to our trip… Ocean Four (17201 Collins) is next new high rise and moves very quickly through Florida Ocean Club, Sole on the Ocean (17315 Collins) and Ocean Point as the camera changes positions. Now were skipping a few parcels of vacant land (eventually Da Vinci) into the beautiful architecture of Pinnacle (17555 Collins) into the exceptional Acqualina Resort and Residences (17875 Collins).

Continuing our journey North, I find it funny how small Trump Grande Int’l Beach Resort (18001 Collins) looks in comparison to Trump Palace (18101 Collins) and the new Trump Royale (due for completion this year at 18225 Collins). Let me tell you Trump Grande development DID do a great job with these 3 projects and with the new K-8th grade School across the street, I’m certain it will assist future resale values (+ Publix supermarket and more). An excellent building from 1999, The Millennium (18671 Collins) is next on the flight followed by Le Merdian aka. M Resort (18683 Collins) then Ocean Three (18911 Collins), Ocean Two (19111 Collins), with Marco Polo Beach Resort aka. Aventura Beach Club in between, then Ocean One (19333 Collins) and finally ending our flight through the celebrity community of Golden Beach where oceanfront land begins at $8M. Oh btw, if you haven’t subscribed to this blog yet, do it now! If you’d like new blog updates once available, you can be notified by email or by RSS feed (see upper left column) every time a new posting occurs. 1.888.38.DREAM

Reuters.com is a trusted source for businesses and professionals looking for industry expertise. An article came up yesterday regarding the South East Florida (Miami) market ”Florida Luxury Home Market Showing Signs of Wear” Read Here. It goes on to talk about the influx of investors from Canada and Europe pouring their strong currencies into luxury properties and how Donald Trump lowered his Palm Beach mansion by 20% as housing woes now touch the wealthy.

“The surprisingly healthy market for oceanfront mansions and palatial condos in Florida, one of the most toxic states in America’s housing meltdown, may finally be showing some cracks.”

They go on to quote local Miami brokers and FAR (Florida Association of Realtors) sales figures relaying that Miami is overbuilt and overpriced for the United States… but really though, for a major metropolitan city with the Forbes vote on the cleanest City in America along with perfect 80 degree weather year round, I’d have to disagree on it being overpriced today. YES, overdeveloped and the market is and has been correcting itself with prices back to 2002 levels. DOWNTOWN MIAMI still has a lot of new inventory coming and not as desirable or in demand as the oceanfront luxury condos. Tourists, Baby Boomers, Foreign Investors and alike want what? OCEANFRONT. Enough said. There is a great selection of luxury condos in Miami available today along the Atlantic ocean but my figures show inventory going down each consecutive month since the 1st quarter 2008 along the Miami Dade oceanfront communities including Sunny Isles Beach, Bal Harbour,  North Bay Village, South Beach and Miami Beach.   (continue reading…)

Sunny Isles Beach, Florida

is a two mile stretch of white sandy beaches just 15 minutes north of Miami Beach and 5 minutes from Bal Harbour. In the 1950′s, Frank Sinatra and his cronies played here occassionally ducking out to bet on jai alai and dog races as it was once known as the Vegas of Florida. Now this former Rat Pack playground has come back to life with a fury and is experiencing an exceptional luxury oceanfront condo & condo hotel boom it has ever seen.

With the overcrowding and over hype of South Beach, sun seekers are coming to Sunny Isles as the area is seeing a proliferation of luxury development and high class restaurants. New celebrity residents and European Investors are seeing the great value along the ocean and snapping up shiny condo deals including Terrell Owens of the Dallas Cowboys, according to the New York Times. Here we find the first class services South Beach offers yet a new exclusive location offering additional privacy and a lifestyle of luxury.

• Residents & Buyers + The newest of Oceanfront Condo Portfolio include the Turnberry Ocean Colony, Trump Towers I, II & III, Jade Beach & Jade Ocean, Sayan Condos, Trump Royale and St. Tropez (Bayside). Yes, Trump has been aggressively building seeing the future value as he always does. My favorite Trump quote is… “Don’t wait to buy real estate, buy real estate and wait.”
• Vacationers & Guests + On the Luxury Condo Hotel side, we explore the finest in services at Acqualina (Rosewood Resort), Le Meridian (M Resort), Trump International Beach Resort, Ocean Point (DoubleTree) and Sole on the Ocean offering serenity, rejuvenation & enjoyment.

Acqualina consists of hotel and private condo residences located at 17875 Collins Avenue. Acqualina Hotel is currently the most luxurious condo hotel on the ocean consisting of 97 rooms and starting at $850 night. Acqaulina has attracted hordes of wealthy Brazilians and Russians who arrive in style driving Jaguars, Ferraris and Bentleys. This hotel has ESPA spa which offers Asian elegances with first class pampering.

If the royal treatments put you in the shopping mood, have the chauffeur drive you over to the Bal Harbour shops at 97th and Collins where you’ll soon find the most exclusive open air mall in the country. The Bal Harbour shops have hundreds of designer boutiques to choose from including Gucci, Neiman Marcus, Saks, Yves Saint Laurent and many more.

For dinner there are many great places like Il Mulino (inside Acqualina) or La Vita e’Bella (at The Golden Strand) featuring Italian dishes. Ready for a Miami martini? Head over to Lime Lounge at the Trump International Beach Resort at 18001 Collins where you’ll mingle with a fashionable Miami crowd of locals & celebrities. This Trump Resort like the Acqualina is all about excess as the 32 story resort has groot style swimming pools, air conditioned cabanas and sumptuous rooms.

The next morning start your day walking the peaceful beach at sunrise and looking for that perfect shell. Now that the Rascal House has closed we’ll be patiently waiting for the new Epicure market (coming 2009) where breakfast will dominate Sunny Isles Beach! I continually add to this blog so if you’d like new updates once available, you can be notified by email or by RSS feed (see upper right column) each time a new posting occurs.

Hurray for the new school opening in Sunny Isles Beach this year! Conveniently opening across from Trump Palace and Trump Royale, the school will encompass grades Kindergarten through 8^th grade. Standing 4 stories tall, this will be home to about 1,600 ambitious children and the first public school in Sunny Isles. The City’s Commission Chambers were opened to the excited public with a record number turnout as crowds had to watch from a television outside.

”It’s the biggest turnout that I remember our city having since, I think, the day the city incorporated,” said Mayor Norman Edelcup.

Parents and children asked the most important questions like “Will we have recess?” and “Do we have to go to School?” Answered as a firm Yes,was the new schools new principal Annette Weissman. Formerly the principal at Ojus Elementary spending 8 years there and received an A rating from the state every year during that time. ”My plan is to have Sunny Isles Beach Community School be an A school the first year out,” she said, adding that the school will focus on math, science and technology.

Registration will open in two months so parents get ready! Students from the established school zone will be able to transfer automatically as Highland Oaks, Bay Harbor schools and Ojus qualify. The school also will take in students from Sunny Isles Beach, Golden Beach and North Miami Beach’s Eastern Shores subdivision. Those outside the area can seek a transfer through their current schools, but a spot is not guaranteed. The school will stop taking transfers when it reaches 100 percent capacity. Classroom sizes will be capped at 18 students in grades Kindergarten through 3^rd grades and 20 students in grades 4^th through 8th as mandated by law. Required for your child’s registration is proof of address and immunizations along with the student’s last report card. The school will offer the encompassing curriculum required at all county public schools, including Spanish classes, art and music, a gifted program and many after school opportunities through a joint use agreement with the city’s community center, which has a gymnasium and a baseball field for your children.

“Everything will be functioning by the time the school opens, including a cafeteria, library, media center and a bevy of interactive smart boards,”said project manager Dennis Caserta. ”You will be shocked and surprised by all the extras and the size of the rooms,”said Vice Mayor Lewis Thaler, who took a tour of the building.

[polldaddy poll=1052289]

The students will be separated by ages Kindergarten through 1st on the first floor, grades 2 through 3 on the second, 4^th through 5th on the third and 6^ththrough 8th on the fourth floor. A free pre K program will start in August as well and run from 8:30 to 11:30 a.m. Monday through Friday. For an extra fee, kids can stay until 2:30 p.m. The school will initially open as a Kindergarten through 6th. In the fall of 2009, 7th grade will be added. Eighth grade will come the year after. Parents, who eagerly have been awaiting the school for years as the city evolved from a retirement community to a family based environment, clapped approvingly during the meeting and were optimistic about the school’s possibilities. Feel free to add any additional comments you may have regarding this new school in Sunny Isles Beach! Please Call the School Directly at CONTACT NUMBER IS (305) 792-1807

Trump Palace is one of my top choices for luxury living in Sunny Isles Beach. The Trump Palace amenities are private compared to the adjacent Trump International Sonesta (resort condo hotel) yet easily accessed and completely open to residents of either tower including the new Trump Royale. Today we are seeing some of the best deals being purchased for under $1.3M. The 3 bedroom units consist of approximately 2700 square feet and we see 11 sold units or about 1 each month so far this year. The closed sales ranged from $1.350 to $1.750M but with today’s elevated inventory, we see many seller’s who have today positioned theirs at $1.2M and up. These are equipped with state of the art kitchens (Miele, Sub Zero, Grohe), his &hers closets and flow through designs showcasing the best views of both Ocean and Bay. Below we’ll review the trends of 2007. What we see here is approximately 2 to 3 units selling each month at an average price per square foot of $650. My 2008 forecast for Trump Palace is selling prices in the $500′s per square foot with 3 to 4 selling monthly. Today the best deal is unit 4806 (flow through) priced at $1.199M with additional seller contributions.

Call or write for additional information..your comments are appreciated.