Archive for the ‘Miami Beach Luxury Homes’ Category
Wednesday, July 7th, 2010
Despite the latest troubling economic headlines coming out of Europe and U.S. overall economic indicators, premier waterfront properties continue an upward sales trend. The latest example of this is a sale that just took place in Bay Point in Miami. I’m going to deviate from my usual pattern of only focusing on Miami Beach sales here, since this latest sale is indicative of the overall trend with premier waterfront properties located either in waterfront or island communities in Greater Miami.
 
This trophy home on Bay Point is located on a double sized lot! This eight bedroom American traditional estate has 175 feet of deep water frontage. Boat lift, protected harbour with no bridges to the Bay, this home was meticulously renovated and features wood burning fireplaces, an oversized pool and hot tubs. Exercise Room, two car garage, courtyard entryway for multiple parking and walking gardens throughout the property. This home had not been on the market in 23 years and is one-of-a-kind!
Sold Price: $6,770,000
Original “For Sale” Price : $8,990,000 (2/2010)
Previous “Sold” Price (1/1998) : $1,600,000 (1988)
Bedrooms: 8
Bathrooms: 10
House S.F.: 10,841 ($624/SF)
Land S.F.: 30,823 ($219/SF)
Sold Date: June 28, 2010
Total Time on Active Market: 304 Days
Friday, June 18th, 2010
I’d like to continue highlighting evidence of the resurgence in sales activity for price reduced waterfront single family homes in the Miami Beach real estate market- specifically for North Bay Road waterfront home sales. The sales story of these two waterfront homes is a great example of what’s happening in today’s Miami Beach real estate market- one sold quickly close to the asking price, and the other was reduced by over 50% over a four year time span:
North Bay Road Waterfront Home (6100 North Bay RD, Miami Beach, FL)
 
Spectacular wide bay views and the most gorgeous sunsets make this boater’s paradise a great opportunity to own on prestigious North Bay Road.Situated on a 20,000 SF lot, this home + guest house is 5,000 SF,with 3 Bedroom/3 Bath.It has been masterfully updated with wonderful entertaining spaces that features a chef’s kitchen,marble floors,marble bathrooms,generator,+gated security. Florida living at its best!
Sold Price: $3,350,000
Original “For Sale” Price : $3,100,000 (2/2010)
Previous “Sold” Price (1/1998) : $500,000
Bedrooms: 3
Bathrooms: 3
House S.F.: 4,889 ($702/SF)
Land S.F.: 19,452 ($176/SF)
Sold Date: March 19, 2010
Total Time on Active Market: 59 Days
Discount from Original Asking Price: 8%
Luxury Home (5718 North Bay Road, Miami Beach, FL 33141)
 
Exterior modern design with luxurious interiors in Med motifs, marble fireplaces, coffered ceilings, elaborate moldings, marble floors, ornate stonework and mahogany millwork. Spacious wet bar/piano room, adjacent media rm. opens onto interior courtyard, pool and huge dock for large vessel. Spacious circular drive with gates, electric shutters, elevator, office, guest & staff bedrooms with adjacent sun room.
Sold Price: $3,350,000
Original “For Sale” Price : $6,750,000 (3/2006)
Previous “Sold” Price (6/1980) : $390,000
Bedrooms: 6
Bathrooms: 7
House S.F.: 6,545 ($511/SF)
Land S.F.: 15,536 ($216/SF)
Sold Date: March 18, 2010
Total Time on Active Market: 40+ Months!
Discount from Original Asking Price: 50% +
My advice from these two examples for sellers: Price your home RIGHT from the beginning and you will get MUCH more buyer activity (perhaps even a bidding war). Overpriced homes sit on the market a LONG time, with a downward price spiral trying to chase the market & generate interest with better priced competing waterfront single family homes.
Friday, May 28th, 2010
I’m often asked when traveling, what makes Miami Beach so special? The answer can be seen in the picture below- it really does speak a thousand words!
As the signs of a national bottom in housing continue to increase (along with expectations of a gradual recovery), Miami Beach’s waterfront housing market is already well on the way to gradual price appreciation. As the inventory levels of unsold homes decrease, we are witnessing slight price APPRECIATION for select waterfront island communities with luxury homes in Miami Beach. In the coming weeks, I’ll be highlighting specific examples from the nearby island communities for our readers. In the meantime, enjoy the view!
Thursday, May 6th, 2010
According to University of Florida oceanographic reports over the past few days, the east coast of Florida is at some risk for contamination from the leaking BP oil rig in the Gulf of Mexico.
Based current models, the expanding oil slick could get caught in a loop current which would redirect it to the Florida Straits, up into the Gulf Stream, and ultimately up the east coast of Florida.
<insert Fisher island pic>
The many waterfront Estates and Luxury homes on Key Biscayne and Fisher Island would be especially vulnerable to contamination. These islands have direct exposure to the Atlantic Ocean and are considered much more vulnerable to potential contamination.
<insert Palm / Hibiscus/Sunset Islands or Venetian Aerial>
The island communities off of Biscayne Bay, however, such as the Venetian Island chain, as well as Palm, Star, Hibiscus, and Sunset Islands are thought to be much better protected, as they are located inside several protective barriers. In addition, if oil slicks were to be spotted, several Coast Guard stations have been pre-stocked with rubber barriers that would be deployed helping to stop oil from contaminating the Biscayne Bay island communities.
According to University of Florida oceanographic reports over the past few days, the east coast of Florida is at some risk for contamination from the leaking BP oil rig in the Gulf of Mexico.
Based current models, the expanding oil slick could get caught in a loop current which would redirect it to the Florida Straits, up into the Gulf Stream, and ultimately up the east coast of Florida.
The many waterfront Estates and Luxury homes on Key Biscayne and Fisher Island would be especially vulnerable to contamination. These islands have direct exposure to the Atlantic Ocean and are considered much more vulnerable to potential contamination.
The island communities off of Biscayne Bay, however, such as the Venetian Island chain, as well as Palm Island, Star Island, Hibiscus Island, and Sunset Islands are thought to be much better protected, as they are located inside several protective barriers. In addition, if oil slicks were to be spotted, several Coast Guard stations have been pre-stocked with rubber barriers that would be deployed helping to stop oil from contaminating the Biscayne Bay island communities.
Friday, April 23rd, 2010
As a long-time resident of Miami Beach, I’ve witnessed a remarkable transformation in our community. When I moved to Miami Beach in 1992, the waterfront island communities consisted of mostly aging, smaller winter homes that had long-ago seen their heyday. For example, Palm Island was where Barbara Walters grew up, and where Al Capone had a winter hideaway.
The most recent evidence of Miami Beach’s resurgence and rise to national prominence can be witnessed in the recent DNC fundraiser that was held at the Glorida Estefan’s house on Star Island, featuring a personal appearance by none other than Barack Obama.
Miami Beach waterfront homes continue to attract celebrities, high net wealth individuals (otherwise known as the rich and famous), and those seeking security and privacy. The architectural uniqueness, beauty, quality of life, and the rich variety of homes in the different island communities is like no other on the planet.
 
|
|
