MID 2014 REVIEW OF THE REAL ESTATE MARKET IN SOUTH BEACH
Last month, we noticed a decline in the volume of sales for condos in 2014. Indeed, the average decrease in South Beach was of 2%. We were wondering if it could be due to a shortage of inventory or a to price increases ?
Indeed, we have observed a rise in price for every condo in South Beach. As you can see from this graph, all prices swelled of an average of 22%! We are witnessing a real South of Fifth frenzy in Miami Beach! Although Sunset Harbour Towers simply increased by 2%, the Continuum South prices rose up by 48%! Indeed, units sold at $1,532/sqft last year. Don’t expect such prices today! The average price for a sold unit has skyrocketed to $2,274/sqft in 2014 ! Same trend at the Portofino and the Murano at Portofino where prices of sold units have increased respectively by 38% and 25%.
No wonder clients are taking a bit more time to think about purchasing. I personally think we still have some great days to come, but the real question is how many?
ARIA ON THE BAY LAUNCH
Earlier this month, I was lucky enough to attend with my team the launch of Aria on the Bay at the Adrienne Arsht center. It was indeed a manifestation of much splendor. The night opened with a cocktail served with French appetizers and champagne. Unfortunately, everybody was so hungry and the buffet was too small…. Girls dressed up as chandeliers were walking through the hall in a very burlesque way. Then dinner went on with a violin artist and a DJ playing in the background. Guests could take pictures in magnifying mirrors decorated with red velvet and roses to create a very warm and luxurious atmosphere. I myself took a very elegant one !
The ceremony started with opera singers giving an incredible performance from The Phantom of The Opera! That was quite a way to announce the sales opening of Aria on the Bay! Then the developers’ family introduced their amazing building alongside a video message from the architect.
One thing is sure, the developer wants their Aria on the Bay condos to sell like luxury hotcakes!
Have a look since they are the best deals for a preconstruction project in Downtown Miami. Prices start at $400,000. LINK TO CONDOIDEAS WEBSITE
FISHER ISLAND: PALAZZO DEL SOL
The very elitist Fisher Island is about to host one of its most selective construction. The Palazzo del Sol is now ready to launch its condo sales. Last week we were invited with my team to preview the project and let me tell you it’s going to be an absolute world apart. It’s a true piece of paradise surrounded by nature and water a few miles away from the city for those who can afford luxury and privacy.
The architect, Kobi Karp, tried to keep the Mediterranean flair but added a twist of modern to it. 47 units designed from 3 to 7 bedroom residences with 10’ ceilings starting at $1,500/sqft. One of the penthouses features over 7000sqft of rooftop terrace while lanai units offer 13,000sqft of private garden. No need to even mention the high luxury services and amenities.
If you want to tour the project, let’s go after 4pm so I can take you to the construction site. Last but not least, I’ve heard through the grapevine that the city is about to approve the water taxi from Fisher island to Miami Beach !
Check out the project by yourself LINK TO CONDOIDEAS WEBSITE
Get ready to purchase as it will be completed by the beginning of 2016!
TIME TO GO PADDLE BOARDING
I am sure you’ve heard of paddle boarding? This is the new trend in Miami.
I went the other day at sunset with a friend’s new company called Kustom Water Sports. The great thing about this company is that they take you on a boat before putting you on the paddle. So you get immediately to the place you want to go without paddling for an hour in the middle of the bay. We went to the Sunset islands, but they can take you to monument island, Venetian islands…. we enjoyed an hour of paddling in the middle of mansions. I think it’s great if you want to plan an event with a team since the boat can fit up to 15 people. Perfect for team building activities.
The best to enjoy a combination of sport and sightseeing of the skyline from Miami’s beautiful waters. They offer also yoga classes on paddle ! As a rookie, not sure I want to try that yet…
Check out http://www.kustomwatersports.com/
DEAL OF THE MONTH: #1117 AT THE MONDRIAN SOUTH BEACH
Great corner unit
1 bed / 1 bath
694 sqft
$470,000
Wonderful bay and ocean views
Designer Marcel Wander’s furniture
1100 West Avenue, Miami Beach
Click here for more information http://www.condoideas.com/apt-1150-A2000153-Mondrian-South-Beach-unit-1117.htm
Indeed, we have observed a rise in price for every condo in South Beach. As you can see from this graph, all prices swelled of an average of 22%! We are witnessing a real South of Fifth frenzy in Miami Beach! Although Sunset Harbour Towers simply increased by 2%, the Continuum South prices rose up by 48%! Indeed, units sold at $1,532/sqft last year. Don’t expect such prices today! The average price for a sold unit has skyrocketed to $2,274/sqft in 2014 ! Same trend at the Portofino and the Murano at Portofino where prices of sold units have increased respectively by 38% and 25%.
No wonder clients are taking a bit more time to think about purchasing. I personally think we still have some great days to come, but the real question is how many?
ARIA ON THE BAY LAUNCH
Earlier this month, I was lucky enough to attend with my team the launch of Aria on the Bay at the Adrienne Arsht center. It was indeed a manifestation of much splendor. The night opened with a cocktail served with French appetizers and champagne. Unfortunately, everybody was so hungry and the buffet was too small…. Girls dressed up as chandeliers were walking through the hall in a very burlesque way. Then dinner went on with a violin artist and a DJ playing in the background. Guests could take pictures in magnifying mirrors decorated with red velvet and roses to create a very warm and luxurious atmosphere. I myself took a very elegant one !
The ceremony started with opera singers giving an incredible performance from The Phantom of The Opera! That was quite a way to announce the sales opening of Aria on the Bay! Then the developers’ family introduced their amazing building alongside a video message from the architect.
One thing is sure, the developer wants their Aria on the Bay condos to sell like luxury hotcakes!
Have a look since they are the best deals for a preconstruction project in Downtown Miami. Prices start at $400,000. LINK TO CONDOIDEAS WEBSITE
FISHER ISLAND: PALAZZO DEL SOL
The very elitist Fisher Island is about to host one of its most selective construction. The Palazzo del Sol is now ready to launch its condo sales. Last week we were invited with my team to preview the project and let me tell you it’s going to be an absolute world apart. It’s a true piece of paradise surrounded by nature and water a few miles away from the city for those who can afford luxury and privacy.
The architect, Kobi Karp, tried to keep the Mediterranean flair but added a twist of modern to it. 47 units designed from 3 to 7 bedroom residences with 10’ ceilings starting at $1,500/sqft. One of the penthouses features over 7000sqft of rooftop terrace while lanai units offer 13,000sqft of private garden. No need to even mention the high luxury services and amenities.
If you want to tour the project, let’s go after 4pm so I can take you to the construction site. Last but not least, I’ve heard through the grapevine that the city is about to approve the water taxi from Fisher island to Miami Beach !
Check out the project by yourself LINK TO CONDOIDEAS WEBSITE
Get ready to purchase as it will be completed by the beginning of 2016!
TIME TO GO PADDLE BOARDING
I am sure you’ve heard of paddle boarding? This is the new trend in Miami. I went the other day at sunset with a friend’s new company called Kustom Water Sports. The great thing about this company is that they take you on a boat before putting you on the paddle. So you get immediately to the place you want to go without paddling for an hour in the middle of the bay. We went to the Sunset islands, but they can take you to monument island, Venetian islands…. we enjoyed an hour of paddling in the middle of mansions. I think it’s great if you want to plan an event with a team since the boat can fit up to 15 people. Perfect for team building activities.
The best to enjoy a combination of sport and sightseeing of the skyline from Miami’s beautiful waters. They offer also yoga classes on paddle ! As a rookie, not sure I want to try that yet…
Check out http://www.kustomwatersports.com/
DEAL OF THE MONTH: #1117 AT THE MONDRIAN SOUTH BEACH
Click here for more information http://www.condoideas.com/apt-1150-A2000153-Mondrian-South-Beach-unit-1117.htm
