September 3rd, 2014
Can you believe it?
It's already time to go back to work (for those who granted themselves some holidays).
Let's start the academic calendar year with topics that will come in handy ;)
1. MID 2014 REVIEW OF THE REAL ESTATE MARKET IN SOUTH BEACH
Although some condos have experienced an increase of around 15% in volume of sales such as the Continuum or the Sunset Harbour Towers, most of the condos in South Beach have decreased of an average of 2%. What could be the reason for the current trend?
There is no significant evidence that the decrease in sales could be linked to a shortage of inventory. As a matter of fact, the average absorption rate in August
2014 is 9 months whereas it was 6 months last year. For example, if the sales pace would be steady, it would take 13 months to sell off the entire inventory of units at the Icon. Last year at the same time, the absorption rate was only 6 months.
So how can we explain that the market has lost some of its momentum?
How about we question the sales prices in our next newsletter?
2. IKEA NEW STORE IN MIAMI
It was official, now it's real! Ikea opened in Miami! No need to drive for an hour and get stuck in traffic going to Fort Lauderdale.
7 days ago you should have seen the Ikea "Black Friday"! Lines of shoppers waited to rush in the new store.
If you recently bought a unit (obviously with me) and are moving in, this news should please you! Check it out this weekend.
Located on 1801 NW 117th Ave, the home-goods store is next to Dolphin Mall, right after the airport, and features 416,000 square feet of 10,000 low-cost yet stylish items and furniture. They also have 44 room settings and model home interiors that you could find inspirational for your own decoration.
The well-deserved cafeteria comes in handy after hours of shopping. For foodies like me we cannot miss their Swedish chocolate cookies and their salmon delicacies!
3. SOUTH POINTE PIER OPENING
The other day, I had a soothing walk on the South Pointe Pier. After a decade since it closed to the public and $4.8 million later, the 100-year-old pier has been refurbished to turn into a pristine walkway over the blue water. It is adorned with lightweight aluminum for a modern feel and made of insect-resistant wood. How clever!
Many options are for you to choose on this 450-foot walkway, whether you prefer admiring the skyline, the cruise ships or the Art Deco gate! You can even fish there!
Do bear in mind that the peer is not dog-friendly, so you might want to enjoy this stroll with someone else!
4. WELCOME TO THE RESIDENCES AT ARMANI CASA!
The hot topic of the month is definitely the Residences at Armani Casa pre construction sales. It's the talk of the town! Condos have been selling like hotcakes!
Sales were launched a month ago and there is such fondness about the condo that 85% is already sold out.
Even though prices have already increased, it is still the best priced condo on the beach. Prices are starting from $1,360 per square feet! We also have a 4 bed / 5.5 bath corner unit, with an extensive balcony overlooking the ocean and the bay at $5,6M. I can reserve one of the few units left for you! Contact me asap!
Click here for more information
5. IL MULINO RESTAURANT
I've just tried yesterday Il Mulino on South Beach! The notorious Italian restaurant that has earned its fame in New York City has settled down here for the delight of South Beach regulars. You can enjoy the charm of Italy in a much design and sophisticated context, fitting perfectly with the Art Deco surroundings.
Be prepared to be spoiled with a generous inflow of antipasti! After tasting bruschetta, mussels, zucchini, salami and parmigiano Reggiano offered by the house, I had the delicious Vongole Oreganata and a well-sized Salmon with mushrooms. My friend had the Scaloppine with lemon. Try out the chocolate cake as well. Be sure to go soon to enjoy the Miami Spice menu and prices!
It is located on 1st street in the former Clark's space.
6. DEAL OF THE MONTH: #2101 AT THE YACHT CLUB
Click here for more information