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!

Thursday, December 27, 2012
This week we are featuring a rare 6 bedroom 7 bathroom and 2 half bathroom home with nearly 7,000 square feet of living area on Alton Road right on the La Gorce Country Club Golf Course listed at $2.995 million. This Mediterranean home also sits on a 23,000 square foot lot. The home was originally built in 1935 and is restored to perfection. The home has an elevator and grand 2 story rotunda in the entrance. The ceilings are vaulted and there are 3 fireplaces with an enormous yard and tons of 1930’s details that really give this home authenticity. A large swimming pool completes this home and there are private cabanas as well.
The La Gorce Island subdivision is the neighborhood to the north of South Beach and is still in Miami Beach. The neighborhood enjoys all the incredible dining and night life that South Beach has to offer, while still enjoying the quiet serenity of the La Gorce Golf Course. The La Gorce Country Club is the oldest private country club in Miami. They have an award winning golf club, a tennis club, casual and formal dining, and a host of activities the whole family can enjoy. The Miami International Airport is a 15 minute drive for those who commute and Downtown Miami is a ten minute drive. For more information on this listing and others in La Gorce, contact us today!
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Wednesday, December 26, 2012
The S & P Case Shiller Index numbers were announced and as of October housing prices have risen for the 9th month in a row. While reports have been trickling in that have indicated that the economy is improving and will continue on this track, economists look to the case shiller index as an official indicator. The S & P Case Shiller is an index of 20 metropolitan areas and it gained .7% in October. This index is seasonally adjusted and the number announced is .5% more than what Reuters economists predicted. Chairman of the S & P David Blitzer released this statement today, “Looking over this report, and considering other data on housing starts and sales, it is clear that the housing recovery is gathering strength.”
Experts speculate that low mortgage rates and job growth have kept the housing market rebounding, and while some anticipate homes facing a downward pressure from released distressed properties from banks, the inventory in many markets, especially in South Florida, is reduced and bidding wars are ensuing. Prices in 20 cities rose 4.3% which exceeded expert expectations by .3%. Further, housing is said to have contributed 10% to the overall US economic growth in the 3rd quarter, despite the fact that the sector represents less than 3% of the gross domestic product. This is really astounding news. US officials announced that the GDP was stronger than an anticipated 3.1% in the third quarter. We are thrilled to report this news, especially as we close the year.
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Wednesday, December 19, 2012
Terranova and Arcadia, who already own the 17th St Garage and three blocks on Lincoln Lane, have now acquired 3 more blocks of prime real estate on Lincoln Road and have set the record for the largest transaction in 2012. Terranova and Arcadia purchased 801, 826, and 719 blocks on Lincoln Road for $139 million in cash. Tenants already in these locations include Spris, Steve Madden, Dylan’s Candy Bar, Score, Fossil, and Kiehl’s, and Terranova brings with them Armani Jeans, Khong River House, and the new Muse Café. This transaction is second to the Vornado Realty trust deal of $132 million for the 1100 block of Lincoln Road which includes Juicy Couture, Nespresso, Juvia, Regal Cinema, and Anthropologie. Terranova and Arcadia purchased 3 blocks earlier this year and now are owners of over 120,000 square feet of Lincoln Road, making them the largest owners.
The rents are sky rocketing on Lincoln Road for retail space and many attribute it to the national chains that are willing to pay top dollar for a piece of what has become one of 5 of the top shopping streets in the US. Retailers on Lincoln Road pay as much as $1,000-$2,000 per square foot in rent each month. Chairman of Terranova, Stephen Bittel released this statement regarding the future of Lincoln Road, “We have a real concentration of real estate in a tight geographic area. The challenge of owning and operating on Lincoln Road, is that it’s the easiest thing to say yes to every national tenant that wants to go there. If you do that it becomes a mall. We want to bring in a mix of unique retailers and restaurants.” Rest assured though it is one of the most expensive roads in the US, the developers want to retain the charm that we residents love. Great news for South Florida Real Estate.
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Tuesday, December 18, 2012
This week the Miami Herald caught up an expert advisor with Focus Real Estate Advisors, Craig Werley on the future of Miami Real Estate.  Werley was asked two very salient questions by real estate writers at Miami Herald and we are recapping this interview for you this week, along with our own analysis of the luxury real estate marketplace. The first issue was whether the sale of foreclosed and REO homes by banks will disrupt the real estate recovery. Werley asserted that the continued growth in the job market will coincide with a strategic and slow release of distressed homes. Unlike in the near past, where new construction flourished quickly and demand dropped, new construction will be slower and at the pace of lenders. Our analysis of the luxury market has shown that the international demand is still available for luxury properties and the building of these mega luxury buildings such as Apogee Beach, and Mansions at Acqualina, will continue due to the large amount of cash buyers that do not require funding.
The second issue addressed by Werley was whether the demand for new developments will be sustained in the coming year. Werley contends that the demand for rental housing in South Florida continues to expand, due to the lender restrictions on the Y-generation and the the Echo-Boomers, who will become the next buyers in 10 years. Where there are more renters, there is more profit to be made by investors and the renters who are would be buyers can afford higher rents. Regarding the luxury market, investors in both mid range homes and apartments will be eager to buy in order to rent. In summation, we feel secure in the future of the Miami Beach real estate marketplace and welcome sustained growth in 2013.
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Monday, December 17, 2012
Privacy is paramount at the Capobella condominium on 50th and Collins. This premier condominium is located directly on the Atlantic Ocean and has only two condominiums per floor. Standing 24 stories tall, each condominium has incredible views of the ocean, La Gorce Golf Club, and Downtown Miami. Residents will enjoy top of the line fitness facilities, high speed elevators, entertainment and club rooms, saunas, heated pools, and lavish lobby with 24 hour security. Capobella is just north of South Beach and access to the Miami International Airport is simple by way of 195. The dining in the neighborhood is phenomenal with famous eateries such as The Forge and Prima Pasta just a short drive away. The neighborhood is known as Millionaires Row and Capobella is nothing short of magnificent.
Our listing today is one of the best values on Millionaires Row and is listed at $1.99 million. Residence 1501 is an impressive 1,860 square feet and has 3 bedrooms and 2 and one half baths. Its’ views of the Intracoastal, Downtown, and the Atlantic are stunning and the residence is completely updated. The home has all marble flooring and floor to ceiling windows in nearly every room. The home comes with a large balcony, perfect for entertaining, and custom shades are on all windows. Waterfront condominiums with this amount of square footage, are unheard of in Miami currently and we encourage you to view this listing today!
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Thursday, December 13, 2012
1700 W. 25th Street in Miami Beach is one of the most rare homes on the market in Miami Beach, if not in all of South Florida. This home is on a nearly 50,000 square foot lot with the home totaling just under 8,000 square feet and it has 240 feet of waterfrontage. It comes with everything including multiple fountains, tennis courts, pool and pavilion, and a number of elegant verandas and terraces. The home is completely updated and is a Smart home, which is an inclusive technology that you find in state of the art condominiums. Built originally in 1940, this home is completely state of the art and has every interior amenity imaginable. It is listed at $12.5 million and we do not expect it to remain on the market long. For more information on this particular home contact us today.
The Sunset Islands neighborhood where our featured home is located is one of the most presitigious neighborhoods in Miami. It is located in Miami Beach, however it is a series of 4 barrier islands that are each gated and secured 24 hours a day. Many notable celebrities reside in this neighborhood including Anna Kournikova and the Hochsteins of Bravo’s hit show, The Real Housewives of Miami. It is within walking distance to the chic Bay Harbour shopping area of South Beach, which has Flywheel Spinning, Green Monkey Yoga, LuluLemon, and the restaurants Barceloneta, Pub Belly, and Burger and Beer Joint. A little further of a walk is the famed Lincoln Road, which has even more dining and loads of shopping in a European style feel. For more information on homes in this neighborhood, please contact us today.
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