Miami Beach Real Estate News

Real Estate News

Every day is a different experience in Miami Beach.  Its ever-changing landscape and the diversity of the Miami Beach real estate market present exciting new ventures, opportunities and events that make it one of the most dynamic cities in all of sunny South Florida.

Our Miami Beach real estate blog is always being updated with the latest real estate news about Miami Beach and its neighboring areas, including local events and exciting new happenings.  As part our ongoing efforts to provide you with the most comprehensive information on Miami Beach and its collection of varied property, we will highlight and acquaint you with a new, acclaimed Miami Beach condo each month.

We encourage you to comment on our latest Miami Beach real estate and South Beach real estate news postings and contribute to the discussion.  The eclectic lifestyle and community always presents new perspectives and we’d love for you to share our postings with friends and family through your preferred social networking websites.  Thank you for reading our Miami Beach blog!

 
Monthly Archives         
 
Alex Rodriguez Takes Mega Mansion off Miami Marketplace
Thursday, January 17, 2013
Tags:   Home Sellers, home buyers, Vero Beach Real Estate, Property, Market, 2012, Sales Price
According to the Miami Herald and sources close to Alex Rodriguez, he has taken his North Bay Road home off the market. He built the home with former girlfriend, Cameron Diaz, and this zen and modern retreat will serve as his den of recuperation after a hip surgery. “Alex wants to concentrate on making a full recovery so he can be ready to return to baseball after the All-Star break in July. So he doesn’t want anything to disturb the recovery.” The home has been on the market only a short time, placed on the mls in August, and as the market continues to rebound and the inventory is scarce, he is likely to have no problem selling the home in July.
The incredible piece of real estate is located on North Bay Road, which is one of the most sought after neighborhoods in Miami Beach. Celebrities with homes on North Bay Road include Matt Damon and Chris Bosh and numerous other A-list celebs have had homes there. Many of the homes have incredible views of the water and the neighborhood is quiet with children playing often in the streets. La Gorce Country Club is a private club nearby and the Miami Beach Golf Club also is close for those looking for leisure activities. Miami International Airport, Downtown Miami are both a 20 minute drive and South Beach is only 10 minutes away. For more information on this incredible neighborhood and listings, contact us today!
Comments: 0
 

Setai Penthouse Sold for Record Breaking Sum
Wednesday, January 16, 2013
Tags:   Home Sellers, home buyers, Vero Beach Real Estate, Property, Market, 2012, Sales Price
A 7,100 square foot, four bedroom, six bathroom, penthouse was sold at Setai Resort and Residences for 27 million this week. This is the largest amount paid for a condominium in the Southeast region in the state and is more evidence of the luxury market rebound. The sale was made between two limited liability corporations, the buyers out of Delaware and the sellers of Europe. Numerous entertainers leased this stunning residence out for $30,000 per night and up including, Jim Carrey, U2, Simon Cowell, and Madonna. The home was purchased in 2010 for $15 million and the sellers made a substantial profit on the sale.
The penthouse boasts views of Downtown Miami, South Beach, and the Atlantic Ocean. These views are breathtaking and the home took up the entire 40th floor with floor to ceiling windows, and a grand terrace of over 3,000 square feet with infinity pool, outdoor kitchen, and Jacuzzi. Setai Resort and Residences was completed in 2004 and it remains one of the top buildings in South Beach for the real estate elite. The property is tranquil and modern and has a number of pools, workout facilities, spa, and a five star restaurant onsite. For more information on listings in this building or if you are looking to sell in the building, contact us today!
Comments: 0
 

Luxury Market on the Rebound, It is Official
Wednesday, January 9, 2013
Tags:   Home Sellers, home buyers, Vero Beach Real Estate, Property, Market, 2012, Sales Price
Preliminary numbers are in and the luxury home market is officially on the rebound. Dataquick, which is a tracking organization that tracks 98 metro areas in the US, announced that luxury home sales rose 9% from last year and are at the highest they have been in 4 years. Further, Zillow.com reported that the number of distressed properties on the market is down 33% from last year and 50% from 2010. Realtor.com also reported that the number of luxury homes is at a 12 month supply. All of these statistics may sound confusing grouped together, however these numbers are an excellent indicator of what the luxury marketplace has to offer in 2013.
First, the increase of the luxury market indicates that buyers are experiencing increased confidence in the market and are taking advantage of the low mortgage rates and prices that are still below the height of 2006. Second, with fewer distressed properties on the market, home owners are finding they are getting better prices for their homes, when priced competitively, and second that they may even be receiving more than their asking price due to the lack of inventory in the luxury market. In Miami, we are experiencing a dramatic lack of inventory and are at a 6 month supply in some areas. Further, we have sustained demand from international buyers who find Miami accessible to Latin America and we have a favorable exchange rate. This is incredible news to start off the year and we will report the latest findings as they are announced. Happy New Year!
Comments: 0
 

Watson Island Project Nearing Completion?
Monday, January 7, 2013
Tags:   Home Sellers, home buyers, Vero Beach Real Estate, Property, Market, 2012, Sales Price
Watson Island, man made island in Miami and current home to Jungle Island and The Miami Children’s Museum is potentially getting ready for a massive change. The Watson Island Project, which was first proposed by developers Flagstone in 2008, but the project had a number of impediments including the economy, permitting, and lawsuits, however it was recently announced that they may have reached nearly all the funding in place to begin this project, which has until September to begin construction. How would this project change the Miami Skyline?
The Watson Island Project would completely alter the urban landscape in Miami. The plan is nearly $640 million according to the Flagstone, and according to the website, it is $400 million. The land is rented from the city of Miami and also funded by equity shareholders. It will be comprised of an enormous marina, two hotels, fractional ownership residences, restaurants, and could potentially be connected by the light rail. In terms of the light rail connection, that is more speculation, however it would really be excellent as a unifier for Brickell and Miami Beach, as well as be a huge stimulus in terms of the local economy in Miami. We will keep you up to date on the progress of this project!
Comments: 0
 

Rosie ODonnell Reduces Price on Star Island Home by $2 Million
Thursday, January 3, 2013
Tags:   Home Sellers, home buyers, Vero Beach Real Estate, Property, Market, 2012, Sales Price
We reported earlier this past March of the television star, Rosie O’Donnell listing her Star Island home for sale for $19.5 million. It was just announced today that the home has been reduced by a whopping $2 million. 43 Star Island Drive was purchased by O’Donnell in 1999 for $6.75 million, however extensive renovations were undertaken in the time O’Donnell lived there. The sale was announced in the wake of the cancellation of her television show on Oprah’s Oxygen Channel. She would still be turning a profit on the home, and $17.5 million is truly a home priced to sell on prestigious Star Island.
Star Island’s most recent sale was the Donald Pliner home which sold for $14.3 million, at 29 Star Island Drive. O’Donnell’s home is listed as worth $10.69 million in 2012 according to the Miami Dade County Property Appraiser’s Office, however with the limited inventory in luxury homes and the continued high demand for homes on this island and in Miami Beach in general we anticipate that the price reduction will result in a quick sale. The home has two guest houses, 203 feet of waterfront, 2 guest houses on the property, and 12 bedrooms and 11 bathrooms in the main home. The main home has 11,104 square feeton a 1.11 acre lot and is tastefully furnished by all standards in a Nuevo Key West aesthetic that remains a trend in interior design. For more information on this home and others, contact us today!
Comments: 0
 

Where to Ring in the New Year in Miami!
Friday, December 28, 2012
Tags:   Home Sellers, home buyers, Vero Beach Real Estate, Property, Market, 2012, Sales Price
There is so much to celebrate in 2013 in Miami Real Estate. The inventory is low and the home prices have risen 52% since last year. Demand for Miami condominiums and homes is continuing from domestic sources as well as foreign investors that are snapping up distressed as well as luxury properties. With mortgage rates at historic lows and the rate of joblessness on the decline, we anticipate huge gains in 2013. If you feel like celebrating, here are some places in Miami to unleash and have a great times along with places that are family friendly as well.
Mansion Nightclub: In true Miami style, tickets to this event are $250 for men and $75 for ladies with an open bar until midnight. VIP and table rates are available. 1235 Washington Ave, Miami Beach. (305) 695-8411.
Nikki Beach Venetian Carnival: This beach party’s tickets start at $50; table packages are available. 1 Ocean Drive Miami Beach. (786) 515-1150.
SOBE Live: Sobe Live is the hip hop NYE event to attend. Tickets include a 3-hour open bar, buffet, champagne toast and a balloon drop. 1203 Washington Avenue. (305) 725-3353.
King Mango Strut: The King Mango Strut is a  parade taking place on the last Sunday of the year in downtown Coconut Grove.
Miami Beach New Year's Eve Party: The city of Miami Beach offers a fireworks celebration at midnight. The best way to see them is to be near Ocean Drive and 8th Street. (305) 673-7400
Bayfront Park Amphitheater: This free event that features performances by various bands. There is a countdown for the dropping of the Big Orange and fireworks. 301 North Biscayne Blvd, Miami. (305) 358-7550.
 
Comments: 0
 

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