Tag: Turnberry Ocean Colony
2009 Trophy Sales from Sunny Isles to South Beach
by AshtonColeman on Dec.20, 2009, under Buyers of South Florida, Condos and Development, Luxury Residential Market, Seller's of South Florida
2009 Trophy Property Sales from South Beach to Sunny Isles Beach.
Amazing to see 199 (733 for sale today) luxury condo sales over $1M for the YTD MLS (Multiple Listing Service) records covering the Miami Dade oceanfront communities of Sunny Isles Beach, Bal Harbour, Surfside, Miami Beach & South Beach. Over $4M there were 11 sales, $6M there were 6 and $8M there was 1 luxury condo sales in 2009.
South Beach Luxury Condo Sales
With 871 total YTD 2009 sales, South Beach had 93 closed sales over $1M. South Beach set the area records with high sales at Continuum (PH-1) selling at $9.9M, Il Villaggio (PH 6&7) selling at $7M and Murano at Portofino (3801) selling at $7.450M
Continuum PH-1 – LP$/SF=$2,027 SP$/SF=$1,342, DOM 562, Closed 05/15
Il Villaggio PH 6&7 – LP$/SF=$2,438 SP$/SF=$1,228, DOM 107, Closed 02/12
Murano at Portofino – LP$/SF=$2,508 SP$/SF=$1,557, DOM 714, Closed 01/21
Bal Harbour Luxury Condo Sales
One Bal Harbour had 16 sales alone over $1M with a record high for Bal Harbour real estate at $5.2M along with The Palace & Bellini right behind selling at $2.6M & $2.3M respectively.
One Bal Harbour 2008 – LP$/SF=$1,196 SP$/SF=$987, DOM 182, Closed 09/29
The Palace at Bal Harbour 15F – LP$/SF=$799 SP$/SF=$705, DOM 266, Closed 10/08
Bellini 1601 – LP$/SF=$654 SP$/SF=$602, DOM 75, Closed 02/13
Sunny Isles Beach Luxury Condo Sales
With 623 total YTD 2009 sales, Sunny Isles Beach had 49 closed sales over $1M and a record high sale over $4M which was Acqualina (PH4506) selling at $4.999M, Trump Palace selling at $2.875M and Turnberry Ocean Colony which sold at $2.1M.
Acqualina PH4506 – LP$/SF=$1,231 SP$/SF=$779, DOM 40, Closed 09/02
Trump Palace 1009 – LP$/SF=$862 SP$/SF=$710, DOM 106, Closed 07/10
Turnberry Ocean Colony 2604 – LP$/SF=$629 SP$/SF=$562, DOM 582, Closed 10/13
Sunny Isles Beach Luxury Condo Sales & Deals of Q4
by AshtonColeman on Oct.22, 2009, under Buyers of South Florida, Condos and Development, Investments, Luxury Residential Market, Sunny Isles Beach Condos
- Sunny Isles Beach Oceanfront
What’s happening in Sunny Isles Beach and where are these great deals? With 225 luxury condos priced over $1M, where would one begin? In looking at new construction from 2005 and on the inventory falls to 175 with ZERO bank owned and surprisingly only 5 short sales. I’m going to begin looking at the lowest possible price per square foot and start with $500 in which we see the inventory drop to TWENTY! In continuing to weed out the bad from the good, I’ll eliminate 3 at Oceanika Villas which hasn’t even broke ground yet leaving 17 top potentials.
Sunny Isles Beach Condo Deals Here
Price Bands of # of condos for sale in Sunny Isles Beach
>$250 – 366
$250 – $499k – 283
$500 – $749k – 167
$750 – $999k – 131
$1M -$1.999M – 176
$2M -$2.999M – 31
$3M -$3.999M – 11
$4M -$4.999M – 6
$5M -$5.999M – 2
Total – 1,173
What’s happening in the luxury tier of closed condo sales of Sunny Isles Real Estate? As of the last 90 days, 13 luxury oceanfront condos have sold in the price ranges of $1M to $4.999M. Interesting to note that only 1 of 13 closed above $2M showing where real buyers are prepared to go financially given the current market. Leading the pack was Acqualina with the record high sale and a staggering 37% discount off list price ($7.9M). Additional highlights show Turnberry Ocean Colony leading with the highest number of condos closed at 7. Ocean Four, Jade Beach, Trump Tower I, Trump Palace fall in line respectively. Average selling price per square foot is $499. Average days on market at 177 and the average Sale to List Price is at 89%.
Price Bands of # of condos SOLD (last 90 days) in Sunny Isles Beach
>$249 – 87
$250 – $499 – 26
$500 – $749k – 14
$750 – $999k – 11
$1M – $1.999M – 11
$2M – $2.999M – 1
$3M – $3.999M – 0
$4M – $4.999M – 1
$5M – $5.999M – 0
Total - 151
Sunny Isles Beach Condos For Sale vs. Sold
Sunny Isles Beach Months of Inventory
These graphs show the inventory trends and closed sales moving in the right direction for recovery. If these graph trends stay relative we could begin to see solid stabilization next year. The inventory still reflects a 25 month supply so there are great buying opportunities as seller’s still have strong competition and duration concerns when liquidity in selling is a must. Inventory has dropped from 41 months to 25 months, while closed sales have doubled over this time last year! In summary, still a good inventory selection with trends showing favor to “local” market improvement… we’re looking good Sunny Isles!~ Want more information on Sunny Isles Beach condos for sale or have insights & opinions, leave a comment below for the readers to see.
- Your link to what’s new & happening along the Miami Dade County beaches 1.888.383.7326.
Sunny Isles Beach Luxury Oceanfront Condo Market Index 3Q 2009
by Ashton Coleman on Jul.21, 2009, under Buyers of South Florida, Condos and Development, Investments, Seller's of South Florida, Sunny Isles Beach Condos
Edition #4 of the 2009 Sunny Isles Beach Condo Index
I’ll be reviewing & comparing the luxury oceanfront market from the 1Q 2009 Sunny Isles Condo Index to today’s updated 3Q 2009 Sunny Isles Condo Index including premier oceanfront towers such as Turnberry Ocean Colony, Acqualina, JADE Beach, Trump Palace, Trump Royale, Ocean 4 and Sayan with a few older but desirable towers now added such as Ocean One, Two & Three, Pinnacle & Millennium. I’ve excluded condo hotel properties from this study including the Trump International Beach Resort, Le Meridian (M Resort), Ocean Point and Sole.
On to the Sunny Isles (3Q 2009) Condo Index…
As of today we are noting 1,276 total condos for sale in the city of Sunny Isles Beach. This year there have been 303 total closed sales (ALL figures are derived from the Multiple Listing Service MLS on July 20th, 2009). What will be analyzed in this post are statistics and trends for the most desirable luxury towers along the coast of Sunny Isles Beach.
Percentage Available Inventory, Average List Price & Average Price Per Square Foot for leading luxury condo towers currently listed & Active on the MLS
Trump Tower III – 15850 Collins Avenue | No MLS records
Trump Tower III – 15850 Collins Avenue | No Closed MLS Sales
Sunny Isles Condo Index Summary
Luxury Condo Sales of Sunny Isles Beach
by Ashton Coleman on May.20, 2009, under Buyers of South Florida, Condos and Development, Luxury Residential Market, Seller's of South Florida, Sunny Isles Beach Condos
Luxury Condo Sales of Sunny Isles Beach (YTD 2009)
In review of what’s closed in the upper tier sales of Sunny Isles Beach luxury condos, we find 16 sales this year in Sunny Isles Beach over $900,000. Closed Sale prices range from $925k (Ocean One) to the record sale of $1.980M. The luxury buildings relaying these sales include Acqualina, Turnberry Ocean Colony (both N & S), Trump Palace, Millennium, Ocean Two & Ocean One. Closed Sale Averages reflect a Selling Price Per Square Foot at $524, Average Days On Market at 307, Average List Price Per Square Foot at $605 and Average Sale to List Price Ratios at 86.46%. Interesting to note this time last year (5.20.08) there had been 47 closed sales for a 66% decrease in sales volume.
The record high sale goes to unit #2703 at Turnberry Ocean Colony (decorator ready) which was an exceptional price compared to the 2007 & 2008 values. At only $569SPSF the buyer bought right on the Martinique Model. Last year these units were selling from $2.1M to $2.6M, while in 2007 they were selling for $2.5M to $2.750M. Today there are 3 pending sales in Turnberry Ocean Colony. In 2007, the Martinique (03 line) was selling at $761PSF for a 25% depreciation over the last 2 years. Turnberry Ocean Colony is very traditional in design and has superior features such as the community restaurant, the enormous fitness center & Spa plus the limosine service and complimentary valet for your guests.
Second in line for Sunny Isles Beach high closed sales of 09 was found at Trump Palace PH#5507 and sold at an extraordinary price of $1.582,700 after 61 days on the market. This translates to $579PSF not including the unique rooftop terrace (915SF) with a spiral staircase. Trump Palace has 3 luxury sales so far this year ranging from $1.150-$1.2M ($531 PSF & $554 PSF on 06 line) to $1.583M (PH). This 06 line sold for an average price per square foot of $572 in 2008 and $630PSF in 2007 for a 2 year depreciation of 14% (specific to the 06 line with 2 sold in 2008 and 2 sold in 2007). Trump Palace offers the best value in my opinion with a gated entryway, 4 pools and full access to the resort amenities next door. Trump Palace also relays the healthiest turnover rate with fewest days on market in Sunny Isles Beach. The building is well established, friendly and financially stable.
Third & final review of highest sales this year were the 2 closed sales at Acqualina which sold at $1.450M ($714PSF on 03 line) & $1.550M ($689PSF on 05 line). Last year these 03 line units were selling from $1.250M to $1.320M, while in 2007 these 03 line units were selling from $1.275M to $1.365M. The 05 line were selling in 2008 from $1.250M to $1.450M, while in 2007 the 05line units were selling from $1.360M to $1.5M. We see a surprising appreciation in Acqualina {based on the 2 highest closed sales} of 2009 reflecting a 9% increase over 2007 values. There are 3 condos currently pending sale today in Acqualina. High $600’s are a good reference point for future owners of Jade Ocean. True, the Jade Ocean development is uber-modern in design and superior in some aspects while Acqualina is very contemporary in design and has additional superior features including the resort amenities, restaurant and spa. However in an apples to oranges comparison, it’s still a fruit and both developments, including Turnberry Ocean Colony, offer superior residences dependant on personal preferences.
So where are the best buys today in Sunny Isles Beach?
Strictly based on new towers under $600PSF, we find oceanfront condos that I believe are the few positioned to sell as ‘NON’-Short Sales…Review Sunny Isles Beach Condos: Luxury Oceanfront Condos Here
The truth is in the numbers, 1.888.383.7326. Let me know of any future posts you’d like to see here.
Sunny Isles Beach Luxury Condo Investment Analysis May09
by Ashton Coleman on May.04, 2009, under Buyers of South Florida, Seller's of South Florida, Sunny Isles Beach Condos
In review of the top condo deals in Sunny Isles Beach today, here are the selected buys..
Discrepancies, Questions, Inquiries? Call.. 1.888.383.7326 or Ashton@MiamiDreamRealty.com
Sunny Isles Beach known as Florida's Riviera, Shines as a Top Destination
by Ashton Coleman on Apr.30, 2009, under Buyers of South Florida, Community Information, Condos and Development, Sunny Isles Beach Condos
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.
Sunny Isles Beach Luxury Oceanfront Condo Market Index 1Q 2009
by Ashton Coleman on Feb.24, 2009, under Buyers of South Florida, Community Information, Condos and Development, Seller's of South Florida, Sunny Isles Beach Condos
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.
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Acqualina- 17875 Collins Avenue | 29 of 247 or 12% | Ave List Price $2.470M | Ave PPSF $805
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JADE Beach- 17001 Collins Avenue | 26 of 248 or 10% | Ave List Price $1.428M | Ave PPSF $700
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JADE Ocean- 17121 Collins Avenue | Released 1Q 2009 with No MLS records
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Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 24 of 130 or 18%| Ave List Price $2.185M | Ave PPSF $734
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Turnberry Ocean Colony South Tower- 16047 Collins Avenue | 32 of 130 or 25% | Ave List Price $2.234M | Ave PPSF $749
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Trump Palace- 18101 Collins Avenue | 54 of 275 or 20% | Ave List Price $1.188M | Ave PPSF $635
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Trump Royale (Just Released NOV08) – 18201 Collins Avenue | 15 of 275 or 5% | Ave list Price $782,700 | Ave PPSF $513
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Trump Tower I- 16001 Collins Avenue | 37 of 271 or 14% | Ave List Price $1.267M | Ave PPSF $524
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Trump Tower II – 15901 Collins Avenue | 13 of 271 or 5% | Ave List Price $1.296 | Ave PPSF $575
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Trump Tower III – 15850 Collins Avenue | Released 1Q 2009 with No MLS records
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Sayan- 16275 Collins Avenue | 20 of 88 or 23% | Ave List Price $983k | Ave PPSF $481
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Ocean Four – 17201 Collins Avenue | 69 of 281 or 25% | Ave List Price $1.056M | Ave PPSF $512
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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
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Acqualina- 17875 Collins Avenue | 6 Closed Sales at $627 PPSF (6% decrease since 1Q 2008) | 94% SP/LP | 256 DOM
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JADE Beach- 17001 Collins Avenue | Just Released with No Closed MLS Sales
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JADE Ocean- 17121 Collins Avenue | Released 1Q 2009 with No Closed MLS Sales
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Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 4 Closed Sales at $527 PSF (25% decrease since 1Q 2008) | 83% SP/LP | 224 DOM
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Turnberry Ocean Colony South Tower- 16047 Collins Avenue | 3 Closed Sales at $671 PSF (6% increase since 1Q 2008) | 90% SP/LP | 189 DOM
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Trump Palace- 18101 Collins Avenue | 12 Closed Sales at $555 PSF (4% increase since 1Q 2008)| 90% SP/LP | 85 DOM
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Trump Royale – 18201 Collins Avenue | Just Released in NOV08 with No Closed MLS Sales
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Trump Tower I- 16001 Collins Avenue | 1 Closed Sales at $399 PSF | 98% SP/LP | 127 DOM
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Trump Tower II – 15901 Collins Avenue | Just Released with No Closed MLS Sales
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Trump Tower III – 15850 Collins Avenue | Released 1Q 2009 w/No Closed MLS Sales
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Sayan- 16275 Collins Avenue | 1 Closed Sale at $389 PSF (10% decrease since 1Q 2008) | 78% SP/LP | 220 DOM
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Ocean Four – 17201 Collins Avenue | 5 Closed Sales at $387 PSF (20% decrease since 1Q 2008) | 93% SP/LP | 184 DOM
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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 Sunny Isles Condo Site is Now Facing Foreclosure
by Ashton Coleman on Jan.06, 2009, under Buyers of South Florida, Community Information, Condos and Development, Sunny Isles Beach Condos
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 Condo Index 4Q 2008
by Ashton Coleman on Nov.30, 2008, under Buyers of South Florida, Condos and Development, Luxury Residential Market, Seller's of South Florida, Sunny Isles Beach Condos
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.
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Acqualina- 17875 Collins Avenue | 27 of 247 or 11% | Ave List Price $2.954 | Ave PPSF $847
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JADE Beach- 17001 Collins Avenue | 22 of 248 or 9% | Ave List Price $1.489 | Ave PPSF $696
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JADE Ocean- 17121 Collins Avenue | Released 1Q 2009 with No MLS records
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Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 25 of 130 or 19% | Ave List Price $2.341 | Ave PPSF $785
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Turnberry Ocean Colony South Tower- 16047 Collins Avenue | 34 of 130 or 26% | Ave List Price $2.261 | Ave PPSF $770
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Trump Palace- 18101 Collins Avenue | 42 of 275 or 15% | Ave List Price $1.244 | Ave PPSF $683
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Trump Royale (Just Released) – 18201 Collins Avenue | 2 of 275 or 1% | Ave list Price $854K | Ave PPSF $466
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Trump Tower I- 16001 Collins Avenue | 34 of 271 or 13% | Ave List Price $1.230 | Ave PPSF $543
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Trump Tower II – 15901 Collins Avenue | 15 of 271 or 6% | Ave List Price $1.215 | Ave PPSF $568
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Trump Tower III – 15850 Collins Avenue | Released 1Q 2009 with No MLS records
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Sayan- 16275 Collins Avenue | 25 of 88 or 28% | Ave List Price $1.210 | Ave PPSF $520
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Ocean Four – 17201 Collins Avenue | 75 of 281 or 27% | Ave List Price $1.068 | Ave PPSF $518
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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
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Acqualina- 17875 Collins Avenue | 8 Closed Sales at $602 PPSF (10% decrease since 1Q) | 92% SP/LP | 314 DOM
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JADE Beach – 17001 Collins Avenue | Just Released this month with No Closed Sales
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JADE Ocean- 17121 Collins Avenue | Released 1Q 2009 with No Closed MLS Sales
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Turnberry Ocean Colony North Tower – 16051 Collins Avenue | 6 Closed Sales at $637 PSF (9% decrease since 1Q) | 83% SP/LP | 274 DOM
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Turnberry Ocean Colony South Tower- 16047 Collins Avenue | 4 Closed Sales at $784 PSF (20% INCREASE since 1Q) | 103% SP/LP | 147 DOM
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Trump Palace- 18101 Collins Avenue | 13 Closed Sales at $537 PSF (1% INCREASE)| 90% SP/LP | 116 DOM
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Trump Royale – 18201 Collins Avenue | Just Released this month with No Closed Sales
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Trump Tower I- 16001 Collins Avenue | 2 Closed Sales at $419 PSF | 96.5% SP/LP | 155 DOM
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Trump Tower II – 15901 Collins Avenue | Just Released with No Closed MLS Sales
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Trump Tower III – 15850 Collins Avenue | Released 1Q 2009 with No Closed MLS Sales
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Sayan- 16275 Collins Avenue | 1 Closed Sale at $388 PSF (10% decrease since 1Q) | 77% SP/LP | 220 DOM
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Ocean Four – 17201 Collins Avenue | 6 Closed Sales at $442 PSF (8% decrease since 1Q) | 91% SP/LP | 232 DOM
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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.
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Overall, it appears we are averaging 2.57% depreciation for the year.
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85% Sale to List Price Ratios
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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.
South Beach & Sunny Isles Beach Condo Pricing Band Sales Analysis
by Ashton Coleman on Nov.23, 2008, under Buyers of South Florida, Seller's of South Florida, South Beach Condos, Sunny Isles Beach Condos
Colony Hotel Ocean Drive
Hello friends and I trust you’re having a great weekend! I’m meeting with qualified buyers tomorrow and wanted to show them and YOU where 2008 condo sales are in South Beach and Sunny Isles Beach real estate. If you’d like to comment on these Miami Condo Sales STATS or have any questions coming to mind, send a quick note in the comment box below. There are close to 150 visitors here each day and growing! Derived from the Multiple Listing Service (MLS), we see as of NOVEMBER 22nd…
2109 = Total Condos for Sale
292 = Total Short Sales (14%)
29= Total Bank Owned REO (1%)
58 = Pending Sales (Last 30 Days)
| South Beach – Real Buyers | 30 Days Closed Sales | 90 Days Closed Sales | 6 Months Closed | 12 Months Closed |
| $0 – $199,000 | 14 | 51 | 95 | 157 |
| 200 – 299 | 9 | 26 | 80 | 170 |
| 300 – 399 | 5 | 27 | 68 | 142 |
| 400 – 499 | 3 | 17 | 43 | 83 |
| 500 – 599 | 3 | 14 | 30 | 65 |
| 600 – 699 | 0 | 8 | 24 | 44 |
| 700 – 799 | 0 | 3 | 9 | 19 |
| 800 – 899 | 0 | 2 | 7 | 13 |
| 900 – 999 | 1 | 1 | 3 | 6 |
| *1M – 1.499 (*larger band) | 1 | *11 | *30 | *48 |
| 1.5M – 1.999 | 1 | 5 | 15 | 31 |
| 2M – 2.999 | 0 | 3 | 14 | 27 |
| 3M – 3.999 | 0 | 0 | 5 | 11 |
| 4M – 4.999 | 0 | 0 | 3 | 4 |
| 5M – 5.999 | 0 | 0 | 1 | 4 |
| 6 – 10M | 0 | 0 | 3 | 4 |
| 10M + | 0 | 0 | 0 | 0 |
| Top Closed Sales in 2008 – South Beach Condos | Sale Price $ | Price Per Square Foot | Days On Market |
| Apogee | 7.3M | 1,757 | 101 |
| Apogee | 5.5M | N/A | 142 |
| Continuum | 6.025M | 1,376 | 67 |
| Setai | 6M | 1,680 | 154 |
Sunny Isles Beach Pier
Sunny Isles real estate known as “Florida’s Riviera,” is the northern entity of Miami Dade Beaches and has incredible growth potential. Donald Trump has his name on 6 towers and there are height restrictions of just over 50 stories tall allowing aggressive progressive developments. The magnitude of new development has been stellar and the architecture is brilliant. The selling price per square foot in Sunny Isles is significantly more affordable than South Beach Condos however new towers such as JADE Beach & JADE Ocean may change this in the coming years. The location is, what I would consider, more “family oriented” than South Beach. The excitement and cultural events of South Beach are still only a short drive south yet the amazing shopping of Bal Harbour and the Aventura Mall are each a 5 minute drive with the premier oceanfront location.
1534 = Total Condos for Sale
308 = Total Short Sales (20%)
18 = Total Bank Owned REO (1%)
44 = Pending Sales (Last 30 Days)
| Sunny Isles Beach – Real Buyers | 30 Day Closed Sales | 90 Days Closed Sales | 6 Month Closed | 12 Month Closed |
| $0 – $199,000 | 13 | 50 | 88 | 119 |
| 200 – 299 | 6 | 21 | 48 | 99 |
| 300 – 399 | 4 | 12 | 24 | 55 |
| 400 – 499 | 2 | 7 | 14 | 33 |
| 500 – 599 | 1 | 5 | 15 | 34 |
| 600 – 699 | 0 | 5 | 15 | 28 |
| 700 – 799 | 2 | 6 | 15 | 32 |
| 800 – 899 | 0 | 0 | 5 | 15 |
| 900 – 999 | 0 | 1 | 4 | 12 |
| *1M – 1.499 (*larger band) | 3 | *11 | *24 | *49 |
| 1.5 – 1.999 | 0 | 1 | 2 | 11 |
| 2M – 2.999 | 1 | 2 | 7 | 14 |
| 3M+ | 0 | 0 | 3 | 4 |
| Top Closed Sales in 2008 – SIB | Sale Price $ | Price Per Square Foot | Days On Market | |
| Acqualina | 3.751M | 718 | 384 | |
| Trump Palace | 3.6M | 671 | 509 | |
| Turnberry Ocean Colony | 3.390M | 974 | 30 | 130% SP/LP WHY? |
South Beach & Sunny Isles Real Estate Consutant, 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. Have a great week and call any time toll free 1.888.383.7326 or view new condos here.
Jade Beach & Jade Ocean Sunny Isles Beach Official Website Launch
by Ashton Coleman on Nov.17, 2008, under Buyers of South Florida, Condos and Development, Luxury Residential Market, Seller's of South Florida, Sunny Isles Beach Condos
Jade Beach rob2010 flickr
So what’s happening today at JADE Condos? Today there are only 20 JADE Beach luxury residences on the market ranging from 1,085 SqFt. ($749,000) to 3,211 SqFt. ($2.3M). NOTE ’JADE Beach’ Condo DEAL: There is a low floor B1 Model just over the ocean who’s lucky buyer is looking to sell at an unmatched price from pre, pre construction pricing from the VERY beginning. It is 1,085 (1BR) total square feet and is aiming for a simultaneous close saving everyone money at only $585,000 which includes your closing costs.. There is little time to delay and it’s ready to close at only $539 equivalent pricing of Trump Towers yet at a far superior building!! Also another great deal is found at ‘JADE Ocean’ and is a high floor D line (2438 Sq Ft.) with this owner looking for a simultaneous close (possibly assignable) at a JADE condo deal of $2M equivalent to the 2008 Sold Values at Turnberry Ocean Colony!
Jade Beach Floor Plan D
Call me at 1.888.383.7326 ext 1 for additional information on these deals or the new site [JadeCondosSunnyIsles.com...coming soon!]. I’m seeking new JADE Condo listings so if your interested in selling or renting, let’s speak and interview to get your property on an efficient global marketing plan showing you great results. 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.
Premier Condos of Bal Harbour & Sunny Isles Beach; Recent Sales Stats & Deals
by Ashton Coleman on Oct.10, 2008, under Bal Harbour Condos, Buyers of South Florida, Condos and Development, Luxury Residential Market, Seller's of South Florida, Sunny Isles Beach Condos
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:
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.
An Amazing Flight Over Sunny Isles Beach, FL Real Estate
by Ashton Coleman on Jun.27, 2008, under Buyers of South Florida, Luxury Residential Market, Sunny Isles Beach Condos
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
Turnberry Ocean Colony Premier Towers in Sunny Isles
by Ashton Coleman on Jun.19, 2008, under Condos and Development, Sunny Isles Beach Condos
Turnberry Ocean Colony is the premier luxury towers in Sunny Isles consisting of 130 condo residences in the North (16051 Collins Ave) and 130 condo residences in the South Tower (16047 Collins Ave). The amenities are first class with a Private restaurant with Oceanside dining on the terrace, SPA, Beauty Salon, 2 pools, 2 outdoor Jacuzzis, State of the Art Cybex Fitness Center with Pilates classes and on site personal trainers, Poolside Bar, Beach attendants, community rooms, conference rooms, cocktail lounge, concierge, complimentary valet, limousine service, community events and more! A snapshot of Oceanfront Luxury at it’s wholesome best… a great confluence of professionals, families, seasonal-oriented owners that all love the beach. Great consensus. Turnberry Offers an unrivaled lifestyle in an exquisite surroundings & complimented by world class amenities. The Most Prestigious Address in Sunny Isles with 600 feet of private beaches.
Turnberry Ocean Colony residence #2401 (Abaco Model). This is the best deal this year at Turnberry 
Ocean Colony on a finished 3 bedroom (3,277 Total Sq Ft – Interior 2772 Sq Ft 257.52 sq m) with panoramic Atlantic ocean and Intracoastal views, marble throughout, custom closets, 10′ ceilings, and elegant window treatments. The seller is also furnishing it for you as a completely finished (turn key), primary, 2nd, 3rd or 4th home! We are getting loads of activity with frequent showings and I expect it to sell in the next 60 days at or around the asking price of $1,979,000 USD. Unit #1901 sold this year at $2.3M! Call me with any questions or for a private showing, you may reach me toll free at 1.888.383.7326 (ext 7). This is the first video produced … I assure you they’ll get better!
Snaidero Kitchen with Sub Zero wine cooler, Gaggenau gas range, oven and espresso maker, Bosch (Axxis) Laundry room, Kohler Sinks ad Faucets, marble baths, steam showers, Jacuzzi hydrotherapy w/ built-in TV, etc.
Sunny Isles Beach Condo Index 1Q 2008
by Ashton Coleman on May.03, 2008, under Buyers of South Florida, Luxury Residential Market, Seller's of South Florida, Sunny Isles Beach Condos, Uncategorized
In keeping up with the latest blog postings for Miami Dade County, I came across Lucas Lechuga’s excellent blog posting on ‘Brickell Condo Index’ and in reviewing his comments, realize we really do need this for the oceanfront communities of Miami Dade. So here is the first Sunny Isles Beach Condo Index showing stats and trends for the most desirable luxury towers along the ocean. This data was collected from the Multiple Listing Service (Live MLS Here) on May 3rd, 2008.
Percentage Available Inventory, Average List Price & Average Price Per Square Foot for leading luxury towers currently listed on the MLS:
- Acqualina – 17875 Collins Avenue I (26 of 247 or 11% active) I $2.375M I $759 psf
- Jade Beach – 17001 Collins Avenue I (7 of 255 or 3% active) I $1.724M I $874 psf
- La Perla – 16699 Collins Avenue I (55 of 326 or 17% active) I $655K I $447.44 psf
- M Resort – 18683 Collins Avenue I (35 of 210 or 17% active) I $581K I $518 psf
- Ocean Four – 17201 Collins Avenue I (93 of 281 or 33% active) I $1.108M I $536 psf
- Ocean Three – 18911 Collins Avenue I (28 of 215 or 13% active) I $1.344M I $531 psf
- Ocean Two – 19111 Collins Avenue I (23 of 254 or 9% active) I $1.117M I $494 psf
- Pinnacle – 17555 Collins Avenue I (62 of 244 or 25%) I $1.101M I $576 psf
- Sayan – 16275 Collins Avenue I (26 of 88 or 30% active) I $1.201M I $570 psf
- Trump Int’l Beach Resort – 18001 Collins Avenue I (83 of 374 or 22% active I $400K I $579 psf
- Trump Palace – 18101 Collins Avenue I (51 of 275 or 19% active) I $1.234M I $664 psf
- Trump Tower I – 16001 Collins Avenue I (30 of 271 or 11% active) I $1.389M I $579 psf
- Turnberry Ocean Colony North – 16051 Collins Ave I (31 of 130 or 24% active) I $2.661M I $814 psf
- Turnberry Ocean Colony South – 16047 Collins Ave I (29 of 130 or 22% active) I $2.332M I $780 psf
"The Vegas of Florida" Returns as Sunny Isles Becomes America's Hot Spot
by Ashton Coleman on Apr.19, 2008, under Buyers of South Florida, Condos and Development, Luxury Residential Market, Sunny Isles Beach Condos, Uncategorized
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.
What's actually Selling in 2008 for Oceanfront Condos in Miami Beach FL & Sunny Isles?
by Ashton Coleman on Jan.25, 2008, under Buyers of South Florida, Condos and Development, Luxury Residential Market, Miami Beach Condos, Seller's of South Florida, Sunny Isles Beach Condos
So what is selling these days in Miami Dade County? Everyone is asking… We will review the sales of Sunny Isles real estate along with Miami Beach FL real estate to see what buyer’s are finding as HOT buys along the ocean..
Sunny Isles oceanfront condos have 6 closed this month worth reviewing. Acqualina, Ocean One, Oceania I, Trump Palace and Turnberry Ocean Colony (2). These selling prices range from $500k (Oceania I) to $2.595M (Turnberry Ocean Colony) and what we see is the sale price to list price ratio ranges from 94% to 81% (both at Turnberry Ocean Colony). The best price per square foot was only $397.26 psf at Oceania I while the highest was $796.51psf at Turnberry Ocean Colony. Much has to do with building age and amenities as Oceania I is from 1990 while Turnberry Ocean Colony is the premier 2008 South Tower. Both Acqualina and Trump Palace sold at $663.39 and 576.37 psf. respectively. What is worth mentioning is the Pending Sales of 2008 are already at 11 which proves a slower holiday season as people travel and families join together. This month each of the above buildings have additional accepted offers but also luxury oceanfront condos including Ocean Two, Ocean Four, Trump Grande, Pinnacle and La Perla. Asking prices ranged from $2.499M to $549k and we will soon see what they’ve sold for. On average, sale price to list price ratios are at 88% for a great 12% off reduced asking prices starting off 2008 right for buyers. Each real estate transaction is different so it’s important to analyze each condo on an independent basis. This real estate blog is only to get an idea of what’s happening in Sunny Isles real estate.
Miami Beach FL oceanfront condos (including South Beach FL real estate) have 9 closed this month worth reviewing. Continuum, Setai (2), Decoplage (2), Roney Palace, The Collins and Fountainebleau II. These selling prices range from $417k (Decoplage) to $2.5M (Continuum) and what we see is sale price to list price ratios ranging from a low 69% (Decoplage) to a high of 101% (Setai Resort). The best price per square foot was only $426.92 psf at The Collins while the highest was $1,500 psf at The Setai Resort. Much has to do with location and building demand & amenities. The Collins is an excellent oceanfront condo conversion in mid beach while the Setai is the sought after and highly desired South Beach Resort. Akoya and Continuum each sold at $581 psf and $1220 psf respectively. The infamous Kevin Tomlinson of EWM sold The Continuum unit after 280 days on the market and saving his customer 16% off the asking price! I’m always inspired by the SoBe Realtor elite and learn a lot when reviewing their sales figures. On average, sale price to list price ratios are at 89% saving today’s buyers 11% off the already greatly reduced asking prices. This month pending sales for Miami Beach FL real estate are very low at only 3 currently under contract (2 at Blue Diamond)! Why is this? My opinion is location vs. selling price per square foot. South Beach is and will always be HOT real estate and in demand. The difference is Sunny Isles real estate sells for a much better price per square foot ($824psf SoBe vs. $569psf SIB) and has a lot to offer new residents with it’s convenience to Aventura, Bal Harbour real estate and both Ft. Lauderdale and Miami International Airports! If it’s the action you desire, I strongly recommend Miami Beach FL real estate yet Sunny Isles real estate is only 20 minutes to all the SoBe excitement. Today’s end users and even investors are penny wise to make smart investment decisions on South East Florida real estate. International Buyer’s are taking advantage of a soft real estate market and the weak dollar offering VERY aggressive prices today on Sunny Isles luxury condos. The new Sunny Isles Millionaires Row is just tremendous with Trump going all out like he did in NYC when the values were down. Trump now has 4 new signature towers finishing this year on into 4Q 2009 along with both Jade Ocean and Jade Beach which I’m super excited about. The selection today for buyers is great but at times may be confusing. The help of a Realtor assisted sale makes the work, time and stress so much less for today’s Southeast Florida Buyers. Contact me to discuss this blog by commenting below or call anytime to talk Miami Beach FL real estate sales.
Turnberry Ocean Colony South Tower of Sunny Isles real estate
by Ashton Coleman on Jan.24, 2008, under Buyers of South Florida, Condos and Development, Luxury Residential Market, Sunny Isles Beach Condos
Seeking the best of oceanfront luxury, an unrivaled lifestyle in exquisite surroundings, complemented by world class amenities? This new development located on Sunny Isles Beach is Turnberry Ocean Colony… the premier address for quality, prestige and service. Arriving to the gated entryway of your home, you will find lush tropical landscaping surrounded by Palms and Fountains. Turnberry Ocean Colony offers you 5 Star amenities which are second to none such as an elite 35,000 square foot health club with trainers, Pilates and spa life. The service personnel and personal trainers are among the best. Walk out to the clubhouse and find heated pools, hot tubs, the beauty salon, sports lounge & bar along with beach attendants for Evian water and towel service. The elegant bars and private dining room are also found in the Turnberry Ocean Colony clubhouse with an oceanfront ambiance & atmosphere for the most convenient community lifestyle. When it’s time to leave your home, Turnberry Ocean Colony has on site limousine, concierge & valet service provided for all residents.
Today the selection for buyers is very good as pricing trends from 2006 & 2007 trickled downward with inventory on the rise. The best values and deals may be found in the new premier South Tower at Turnberry Ocean Colony. Enter your Private Elevator & entry foyer with flow through floor plan and above average living space in your residence. 26 resident condo homes are on the market today with 260 total units in each Tower. Turnberry Ocean Colony #2401 is one of my top choices as an excellent buy in Sunny Isles real estate. This Abaco model has spectacular Northeast panoramic ocean views and already a 16% reduction off the list price, the seller has this one priced to sell! This 3 bedroom, 4.5 bath home comes with every fine detail you would expect with a name like Turnberry. The state of the art Snaidero kitchen with Giallo granite overlooks the ocean and comes with appliances like SubZero refrigeration, Gaggenau Gas cook top and Bosch… Entering into the Master Bathroom we find intricate rooms detailed in marble and open windows showcasing the Biscayne Bay and city of Sunny Isles. The Master is also equipped with a Jacuzzi Hydrotherapy tub with built in TV and Steam shower for the ultimate in relaxation.
Let me know if you have any additional requests for luxury condos on the ocean or for Turnberry Ocean Colony such as detailed floor plans or to preview this fine development.
