New Listing at Canyon Ranch-2 Bedroom Direct Ocean Views

May 30, 2012 By

We just listed a 2 bedroom 2 bath direct oceanfront condominium in the South Tower on the 17th Floor, unit 1704.  This unit was bought in 2008 and remains in “Decorator Ready” condition.  The prospective buyer will be able to customize the finishings to their own personal taste.  Flooring, window treatments, lighting and paint are required.  This unit is approximately 1200 square feet under air and offers another 250 square feet of fabulous usable balcony overlooking the beautiful Miami Beach ocean.  The price is $989,000.

Recent notable sales at Canyon Ranch in the South Tower are; 4th floor combination unit over  6302 square feet of direct ocean views sold for $4,122,500,  LPH 05 sold for $1,250,000 and 1905 Sold for $1,301,000, we represented the buyers.

Unit 1704 offers an opportunity to own at Canyon Ranch at a good price point for todays market and with the opportunity to finish it out to ones own taste. Canyon Ranch offers unprecedented amenities and services dedicated to living a health lifestyle. Situated on over 6 1/2 acres the property has a relaxing zen like feel, an excellent environment for those looking to getting away.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Filed Under: Canyon Ranch, Miami Oceanfront Condos Tagged With: , , , , , ,

Condo Sales on Miami Beach- What’s Happening?

August 17, 2011 By

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The big news about Miami Beach Oceanfront Condo Real Estate is that resale inventories are down over 25% from a year ago and sales are up.

From  May 2009 to July 2010 buyers had many magnificent oceanfront condos to choose from.  During that time period, the large inventory created competition on the selling side softening prices.  That has changed.

From May 2010 to July 2011, we have seen a significant drop in inventories.  The very low priced units have been absorbed and prices have firmed up.

The following statistics are based on oceanfront condo sales in Miami Beach priced above $700,000.  Most of this data is based on the resale market but some developer units are included in this data.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The South Florida peak season, November through May, is when most of the oceanfront condo sales occur.  In 2009-2010 there were 123 reported sales of oceanfront condos during this period.  A year later In 2010-2011 there was a 39% increase in sales with reported condos sold, 204 in total.

This trend is expected to continue as inventories continue to decline and South Florida continues to attract cash buyers from around the world.
Miami Beach oceanfront condos such as Bath Club, Canyon Ranch, Caribbean, Continuum South Beach and Trump Properties in Sunny Isles all have very strong reported sales and inventory reductions.

Filed Under: Buying Real Estate Tagged With: , , ,

Recent Sales Activity at One Bal Harbour and Other Luxury Oceanfront Condominiums

August 2, 2010 By

Summer is definitely off season for tourists in South Florida.  Tourists are gone, the hotels and beaches are quiet and traffic is flowing quite well.

However, Oceanfront Condo Sales Activity are not off season.  There has been some serious buying activity going on this summer.  One Bal Harbour, recently had 2 condos go to contract.  Unit 609 Listed at $2,995,000 and Unit 1809 Listed at $3,395,000. Other notable transactions this summer have been the Penthouse at the Jade Beach listed for $11,000.000, The Continuum unit 1804 listed for $8,395,000 and the Penthouse at the Acqualina listed for $5,200,000.

It is expected that this coming fall and winter season Miami Beach and Fort Lauderdale Luxury Oceanfront Condos are going to continue to experience an increase in sales activity.  I believe the summer activity is quite indicative of what is coming this season.  The profile of many of the buyers that I work with are second or third home acquisitions that they plan on using periodically and keeping long term.  There are many investors out in the market as well looking for long term appreciation.

Filed Under: Best of the Best Oceanfront Condos, Buying Real Estate, Continuum South Beach, Fort Lauderdale Oceanfront Condos, Jade Beach- Jade Ocean, Miami Oceanfront Condos, One Bal Harbour Tagged With: , , , , ,

Caribbean Miami Beach Success Story- As Condo prices bottom out

April 26, 2010 By

Many of my posts over the years have covered the great buying opportunities that are presented when a developer is moving inventory at attractive prices.  In my post from April 17th, Caribbean Miami Beach was identified as a great buying opportunity.   The original developer struggled to sell the units at the original $1100 per square foot price,  The Caribbean was bought out by Melohn Properties. The new owners priced the units at an average of $600 per square foot.  The condos have sold and there are only 15 units left. The history of The Caribbean Miami Beach was mentioned in an article in the New York Times on April 20th.

The market changes over the last few years have been quite remarkable.  The buying opportunities are out there and when they are right…they are selling !

Filed Under: Buying Real Estate, Caribbean Miami Beach, Deals, Miami Oceanfront Condos Tagged With: , , , ,

What Oceanfront Condo Can You Buy for $1,300,000?

April 17, 2010 By

Many buyers are looking for great condo buying opportunities that are direct ocean with a minimum of 2 bedrooms and 1800 sq.ft.

Here are some of the great opportunities:

Mei Miami Beach-58th and Collins

Southeast corner unit 1002- 1805 square feet 3 bedrooms 3 and 1/2 baths. Finished Unit. Asking Price $1,299,000.  $719 per square foot.

The Developer has one unit left unit 602.  It is an unfinished unit and can probably be bought for around $1,100,000.  In my opinion, when you are facing the ocean, it is not necessary to be on a high floor.  In fact, my preference is a lower floor for ocean facing units.

Caribbean-Miami Beach- 37th and Collins

Caribbean is in a great location.  As I have written before, developer units are priced very well.  Good pricing resulted in numerous sales  and a great deal of the inventory has sold.  There aren’t any southeast units left in the south tower, one of the most sought after units.  There is a northeast corner direct oceanfront unit still available. 1748 sq.ft. $1,031,000, $590 per square foot.

Trump Towers- Sunny Isles

There is a good amount of Trump inventory in Sunny Isles and it is selling at new low prices.  As these sales continue to be brisk, fast forward a year or two, retrospectively people will be talking about the deals in 2010.  D Model, 2550 sq.ft. for $1,025,000.  That is per square foot.

Fort Lauderdale

Aquazul- 1600 S. Ocean, Fort Lauderdale.

There is an 11th floor unit finished out magnificently and featured in numerous decorator magazines. 2572 sq.ft. 3 bedrooms 4 and 1/2 baths with direct ocean and west views.  Asking price $1,350,000 $524 per square foot.

There was a great deal of sales activity this season.  In researching real estate data for this blog post,  I came across  certain exceptional units that sold this winter.  For example at Ocean Palms. There is a spectacular unit on 31st floor that recently went to pending. It was over 2300 square feet with breath taking direct east and west views. It was a finished unit asking price $899,000. $391 per square foot.

Filed Under: Amazing Views, Aquazul, Buying Real Estate, Caribbean Miami Beach, Fort Lauderdale Oceanfront Condos, Mei-Miami Beach, Miami Oceanfront Condos, Ocean Palms Hollywood, Trump Towers-Sunny Isles, What Can You Buy For $1.3 Million Tagged With: , , , , , , ,

Caribbean- NEW Miami Beach Oceanfront Condo

November 2, 2009 By

As has been reported, a New York City investor has purchased the Caribbean Miami Beach.  Originally prices for units in this oceanfront building were averaging $848 per square foot.   This is a boutique building with only 103 units, composed of one, two and three bedroom units.  Prices today are starting at $400 per square foot.  Furthermore, maintenance is only about $.62 per square foot.  The building offers a pool, fitness center with a sauna and locker rooms, private wine cellar, private cigar humidor and it is wired offering “Smart Building” technology.

Located on 37th and Collins, it is a super location walking distance to the newly renovated  Fontainebleau, under construction Cipriani’s, Morton’s Steak House and other great restaurants.  Minutes from South Beach, Bal Harbour and Miami International Airport.

The Caribbean consists of two towers, the newly constructed South Tower and the renovated North Tower.  The South Tower has only 4 units per floor. 

The direct ocean units are spacious with spectacular views.  Wide wrap around balconies extends the living space on one of the most beautiful beaches along the coast.  The kitchens have dark wood cabinetry and top of the line appliances.  The master bath is open and extends into the master bedroom with seamless glass walls. 

This is a very interesting project in a great location priced well for today’s market.

 

 

Filed Under: Amazing Views, Buying Real Estate, Caribbean Miami Beach, Deals, Miami Oceanfront Condos Tagged With: , ,

Short Sales…Nobody Likes them…but there are opportunities

July 12, 2009 By

Nobody likes short sales.   The process is long and drawn out with questionable results.  However, for buyers, the opportunities are there.  In Miami Beach in the last 60 days,  23 oceanfront condominiums closed that were short sales.  2 closed sales were at the Bath Club. These were large units with selling price for both units were over $1million.  The per square foot price was in the $300′s per sq.ft ! That would have been unheard of a few months ago.  A new oceanfront condominium in Miami Beach selling in the $300′s per square foot !

These opportunities are in all price ranges and touch the most expensive luxury buildings.  At the Grand Bay Tower in Key Biscayne,   a 9000 square foot oceanfront condo is listed for $7.8 million and is a short sale. There are short sales at the Continuum in South Beach, at Turnberry Ocean Colony, at the Jade in Sunny Isles and even at Oceanside in Fisher Island.

In the Fort Lauderdale area, there were 22 oceanfront condominiums short sales  that sold and closed in the last 60 days.  Several of those sales were condos at the Beach Club in Hallandale.

There are varying stages of the short sale process. If the short sale has already been approved by the bank the process could feasibly close relatively quickly.   Unfortunately, this is the state of the market today, but for a buyer… it could be quite an opportunity !

Filed Under: Bath Club, Beach Club Hallandale, Buying Real Estate, Deals, Fort Lauderdale Oceanfront Condos, Miami Oceanfront Condos Tagged With: , , , , , ,

Canyon Ranch Miami Beach-Living The Ultimate Healthy Lifestyle

December 28, 2008 By

All new luxury oceanfront condominiums in South Florida offer an array of amenities.  For some buildings the amenities are very basic and for others quite extensive.  There is one new oceanfront condo building in Miami Beach, Canyon Ranch that really takes the entire oceanfront condo living to a new level.

Many of the purchasers of condos in the new Canyon Ranch Miami Beach, have had the good fortune of experiencing one of the other Canyon Ranch locations.  The “Ranchers” as they have been called,  have enjoyed the all encompassing lifestyle that Canyon Ranch delivers. Now, to be able to own a condo in Miami Beach and immerse oneself in a comprehensive healthy lifestyle … well, that combination is a real winner.

Canyon Ranch hotel and spa opened very recently.  Here is a sampling of what residents can experience every single day:

Here are condo units for sale at Canyon Ranch,.  In addition to the condominiums for residents, Canyon Ranch Miami Beach also has a full service luxury hotel.  Condominium owners benefit by having full access to all the amenities of the hotel including concierge service, restaurants, room service and maid service.

Condominiums and condo hotel units are for sale in all price ranges starting in the $400,000 to well over $3.7 million.  There are also 6 month and one year rentals available at Canyon Ranch.     

We put together a short video to offer an overview of Canyon Ranch Miami Beach South Tower, Carillon Tower, North Tower and overview of the Canyon Ranch Miami Beach facility. 

Filed Under: Canyon Ranch, Miami Oceanfront Condos, Uncategorized, Wellness and Healthy Living Tagged With: , , , ,

Mei Miami Beach-Incredible Price Reductions

December 19, 2008 By

The Mei, Miami Beach, is a  new oceanfront condo building in a great location.  Constructions was just recently completed and closings are underway.  Because of current market conditions,  some original buyers are unable to close and the developer is taking back some inventory.

I am always analyzing the market looking for opportunities for my clients.  As I have written before, in my opinion, developer units are where the real buying opportunities lie.  Especially in these economic times, in most cases developers are very motivated to sell their inventory.  I find the opportunities are greater than short sales, foreclosures or bank owned properties.  

The Mei presents some very attractive units with a good amount of square footage and very aggressive pricing.  The Mei is considered a “boutique” building with on 134 residences in 21 stories.  The Mei is situated at the north end on Millionaires’ Row, 10 minutes form South Beach, 10 minutes from Bal Harbour, 20 minutes to international airports.

(one of the lobby seating areas)

The units offer unobstructed views of the ocean and the intracoastal, the golf course La Gorce, Biscayne Bay and spectacular views of downtown Miami.  Designed by Hirsch Bedner, known for award wining projects around the world such as the Oriental Hotels. The building design hosts flowing water, crafted in limestone, teak and exotic fabrics from the east.

Mei will provide each resident Five Star Resort Services including:  

o Breathtaking lobby with 24 hour concierge and valet parking services 

o Tea Lounge

o  Zen library

o  Asian inspired spa, Yoga studio

o State of the art fitness facility with private massage rooms, steam room, lockers

o  An ocean view stunning pool deck where lagoon pools and tropical gardens create a hideaway on the ocean with an infinity         edge pool and a misting pool to delight all your senses. 

o  Mei will offer the most advanced cutting edge technology system included in each residence as standard:

o  21st century technology with Pre-wired and pre-installed fiber optic connections for: Satellite TV, Email boxes, Local and international telephone, voice mail service, wireless hi speed Internet, music and video library.

An outstanding feature of the units offered are the expansive wrap around balconies.  Even if you are situated on the west side of the building, the wrap around balcony offers you direct ocean views as well.

The units start at 1,148 square feet and  range up to 1,817 square feet.  I do receive many inquiries for spacious 2 bedroom oceanfront units in Miami Beach.  The developer is offering at the Mei today a 2 bedroom unit 1,374 square feet with another 664 square feet of balcony for around $580 square foot.  Prices not too long ago were around $1000 square foot.  How is that for an opportunity ! 

For those that are looking to buy an oceanfront condo in Miami Beach, the Mei is worth taking a look at.  

The expansive west views are spectacular…especially at night !

   

The library carries through the zen like design….

The pool has a gentle waterfall with with in pool seating overlooking the ocean….

The balconies wrap around the corner so direct oceanfront units will also appreciate the interesting west views.

 

The kitchen has wood paneling and top of the line appliances.

Baths have dual sinks and modern fixturing…..

 

Here are pictures of the finished model unit….


 

Filed Under: Buying Real Estate, Deals, Mei-Miami Beach, Miami Oceanfront Condos, Pre-Construction-Luxury Oceanfront Condos, Uncategorized Tagged With: , , ,

Mosaic, The Bath Club and the Continuum Miami Beach-Sales and Market Profile

October 9, 2008 By

To give our readership a look at the luxury oceanfront condo market we have selected a sampling of luxury oceanfront condominiums in Miami Beach.  Mosaic, The Bath Club and The Continuum South Tower, the Continuum North Tower.     The data we are providing will reflect the varying building sizes, the number of units for sale, the price ranges and recent sales data.  These three buildings were picked merely as a representation of new luxury oceanfront condos in Miami Beach.  

A few notes about the data, The Continuum in South Beach is the largest of the three properties with 517 units but only 15% of the building is offered for sale.   The desirable Continuum in South Beach offers the premier…location, location, location!   Continuum sales price per square foot have not been any lower than $717 !

On the other hand Mosaic is the smallest of the three condos with only 86 units.  30% of the building is for sale.  That is higher than the average of about 20% for most newer luxury oceanfront condos.  

Of the three buildings the best price per square foot that was sold was at the Bath Club for $315 square foot.  Somebody got a really good deal.  The lowest priced sale was also at the Bath Club for $650,000.

Across all markets we have seen the stabilization of inventories and are actually starting to show a decline in inventories.   Less condominiums on the market.  Furthermre, the National Association of Realtors reported an increase in pending home sales from July to August.

Several large scale investors such as Jorge Perez and others are stepping in to take advantage of current market conditions and attractive prices.  Real estate will have its ups and downs but unlike paper invesments…..real estate is real property !

 

 

 

 

Filed Under: Bath Club, Buying Real Estate, Condo Statistics, Continuum South Beach, Miami Oceanfront Condos, Mosaic Tagged With: , , , , , ,
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