Miami Beach Real Estate Blog

It’s been a busy month for myself and my team, as we’re seeing strong buyer activity from so-called “Bargain Hunters”.  I’ve intentionally avoided weighing in on the technicalities of the financial crisis and the future impact of the Paulson Plan, as there are many more qualified sources out there to give readers their analysis.  However, now that we are seeing some stability return to the banking sector, I’ve noticed a strong surge in buyers looking to purchase prime real estate properties at significant discounts.  What’s  happening are that the properties in the best locations are being picked up now at prices that range from approximately 30%-50% discounted values from 2005 prices.

Waterfront homes (turnkey) in Miami Beach at reasonable prices are in surprisingly short supply, and these are the first of the “bargains” that have been purchased recently.  For example, I recently conducted a search for a client with a budget of $5 Million looking to purchase a luxury waterfront home (remodeled) on the Venetian, Palm Island, Hibiscus, Sunset Islands or Bay Drive in Miami Beach.  The real choices?  Just twelve waterfront homes!

Also, a few of our latest sales are indicative of the above referenced “deals” that are happening now:

Jade Beach- Prime Location Sale #1
Spectacular Lower Penthouse #4401 “F Line”- 4 beds / 4.5 baths – 3,136 S.F.
Contract Price: $2,475,000  ($789/S.F.)
2005 Sales Price:  $3,400,000 ($1,084/ S.F.)
Today’s Discount:  27%
•    A spectacular 51-story oceanfront tower
•    Designed by Carlos Ott and Fortune Development Int’l
•    Beautiful entrance with cascading fountains, lush landscaped gardens, reflecting pools, and contemporary décor throughout
•    Three-story Grand Entrance Lobby with direct ocean and pool views
•    Located directly on the Ocean close to Bal Harbour Shoppes and Aventura Mall, as well as easy access to Miami and Fort Lauderdale International Airports

(Next door condo Jade Ocean, is completed)

Jade Beach Floor Plan- Unit F

Jade Beach Condo

Jade Brickell- Prime Location Sale #2 (Bank Owned / Pre- Foreclosure Sale)
Spectacular 43rd Story Residence “E”- 4 beds / 4.5 baths – 3,415 S.F.
Contract Price: $1,600,000 ($468 / S.F.)
2005 Appraised Value:  $3,100,000 ($907 / S.F.)
Today’s Discount:  48%

Downtown Miami’s Most Luxurious & Lavish Building, the Jade Residences is a 49-story building offering 326 luxury residences with advanced technology. Spectacular Ocean and City Views, state-of-the-art security system, Infinity edge pool, Sauna, steam room, fitness center, European spa, racquetball, concierge services.
•    49 story architectural masterpiece designed by Bernard Zyscovich
•    Distinctive three-tiered tower offering views of Biscayne Bay, Downtown Miami and Key Biscayne
•    Grand entrance lobby graced breathtaking 21-foot ceiling with contemporary deco

Jade Brickell - Unit E

Jade Brickell condo - Miami