There are currently 1425 Aventura condos for sale: (25 more than last month)

• Highest priced listing: $12,000,000 for a 5/6 at Porto Vita
• Lowest priced listing: $33,900 for a 1/1 foreclosure at Fourth Forum Condo
  
• Pending sales: 280 (8 less than last month)
• Closed sales in August: 72 (2 more than last month)

The highest Aventura condo sale in the month of August was for the 4 bedroom, 4.5 bathroom residence at Hamptoms South  (photographed above) – 20201 E Country Club Dr #710 – a seventh floor condo with unobstructed East and West Views – listed for $49,500 and selling for $990,000.

The lowest Aventura condo sale in August was for the 1 bedroom, 1.5 bathroom foreclosure at Biscayne Lake Gardens Condo.  It was listed for $67,200 and selling for $46,000.

After being quoted in The Miami Herald, a reader came back talking about his own building and how the numbers were not correct.  The Herald writer, Jared Goyette, was good about saying:

all agreed that the market in Aventura can be difficult to assess because most of the residences are condos, and the trends can be different from building to building. Similarly, Hegedus-Garcia made the point that the Standard & Poor index isn’t a good guide, because it lumps together large metro areas while there are drastic differences from neighborhood to neighborhood.

With that said, I decided to add real estate stats for different buildings in Aventura to give our readers a better idea of what’s happening in each one.  This month, I picked Hamptons South (photographed above), since it had the highest sale in the month of August.

Hamptons South – Aventura, Fl

Hamptons South is located at 20201 E Country Club Drive and was built in 2004.  It sits on the Intracoastal Waterway and offers upscale design and amenities including: a 25,000 sq. ft. spa, sauna, whirlpool, adult and children swimming pools, playground, tennis court, reception desk, valet parking, gated entry, party and tea rooms, hotel rooms and library.

There are currently 25 active listings at The Hamptons South.  The highest priced condo is for the 6 bedroom / 6 bathroom PH with private roof tops (units PH4&5) – listed at $2,800,000.  The lowest priced unit (1806) is listed for $849,000 (2 bedrooms / 2.5 bathrooms).

There have been 7 sales in the building in 2010 varying from $725,000 to $1,00,000; and 17 sales in 2009 varying from $465,000 to $1,050,000.

There is currently only one unit under contract – unit 1906 listed for $650,000 and showing pending since january 2009 (something tells me that sale may not go anywhere).

Of the 25 Active Listings, only one is a distressed sale – unit 2207 is a short sale listed for $999,000 with a Dade-County Market Value of $785,990.

After looking at the numbers, although there have not been many sales at Hamptons South, we can deduce that it is a solid building because there is not a long of turn around, the prices have remained strong and there is only one single distressed property currently on the market.  An appraiser would most likely have to go outside of the building for comparable properties and hopefully would go to buildings with similar amenities.

If there are particular buildings you would like for us to give more information on, feel free to contact us.

**all information obtained from the SouthEast Florida Multiple Listing Service**

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4756 Alton Rd – Miami Beach, FL 33140

Listing Price $569,000

How do you describe a 1949 Miami Beach home that has impeccable vintage details and at the same time updated modern features, to create a perfect place to live? Here we have a home where the owner has identified and preserved key elements throughout and revamped the old and tired to come up with a complete package. If you like old and new in a nicely orchestrated space, this house may be the one.

The approach of the house will welcome you with private landscaping to a quaint porch area. You will be greeted by custom doors, original quarry tile, hardwood floors, soft stucco and spacious rooms. You will notice ample closet space atypical of the period, updated kitchen and private yard perfect for lap pool and urban garden space. MLS description reads:

Updated and meticulous 40′s great find!  A true 3-bedroom with den in the heart of Miami Beach.  Features include: custom doors, hardwood floors, master bedroom with sitting room, laundry room, new roof, fireplace, 1-car garage, privacy hedges, room for lap-pool, and more.   Close to golf course, schools, hospitals, doggie park, shopping, major highways and South Beach.  Come experience the best of Miami Beach.

As for practical items to note about this Miami Beach Home:  New Roof in 2007, new air conditioning ducts in 2008, complete set of hurricane panels, top of the line lighting fixtures and fans, working fireplace, custom doors, privacy hedges, laundry room, updated electrical system…and so much more.

Location is Mid Beach, one block East of Biscayne Bay and a 15 minute bicycle ride to the beach.  Close to downtown Miami and South Beach in a safe urban setting with not too much yard to take care of but enough to be green.  It is on Alton Road, a busy road, but don’t let that deter you, between the privacy hedges and actual design of the house, it will not make a difference.

Features:

• built in 1949
• 3 bedrooms + den / 3 bathrooms
• 2,030 sq.ft. of living space
• 6,000 sq. ft. lot (60′ X 100′)
• 1-car garage
• cbs/stucco construction
• new roof
• new electrical
• new a/c ducts
• central location

*property courtesy of Majestic Properties and Southeast Florida MLS*

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There were 151 Miami Beach condos sold in the month of July of 2010. The highest sale was $5.35 Million (which is discussed below) and the lowest price was $33,000 for a 1 bedroom / 1 bathroom foreclosed condo at Vista De Mar in Normandy Island.  The new discussion around town is how LeBron James’ move to The Miami Heat is helping the Miami and Miami Beach real estate market’s recovery.  Many already report an increase in activity, but can’t really verify whether or not it’s caused by the Heat’s Trio.

July’s Most Expensive Miami Beach Condo Sale

Apogee South Beach: 800 S Pointe Dr, # 504 – Miami Beach, FL 33139

Listed for $6,250,000 and sold for $5,350,000 on 07/15/2010

Month after month we are seeing Apogee on the Top 3 most expensive Miami Beach Condo Sales which means there is a high demand and the building is worth it.  Amenities and finishes are superior in this luxury building and I think we can even say that Apogee redefines South Beach condo living, being at a completely different level than its neighboring high rises.   Unit 504 sells for over $100 less per square foot (sale price $1,288 sq. ft.) than unit 604 right above, which sold last month for $5.8 million.  MLS description reads:

This is Apogee’s most-desired floor-plan and best location for unobstructed water views.  Your 4154sf apartment is surrounded on three sides with 2500sf of sweeping, 11-foot-deep terraces, including an outdoor kitchen with grill.  The interior spaces are masterfully-designed with a spacious master suite and master bath over the Miami Beach waterways (looking out over Fisher Island), an extraordinary and impressive gas-fueled kitchen, separate media room, 11-foot ceilings and a host of unique features.

Features:

• 4,154 square feet of living space
• 2,500 sq. ft. terrace
• Built in 2008
• 2-garage spaces
• 4 bedrooms / 3 bathrooms / 1 half-bathroom
• Bay and City Views
• Summer Kitchen
• separate media room
• 11-foot ceilings
• Maintenance Fees = $5,046/month

July’s Second Most Expensive Miami Beach Condo Sale

The Caribbean Condo:  3737 Collins Av, #PH-4 – Miami Beach, FL 33140

Listed for $5,000,000 and sold for $4,700,000 on 7/15/2010

What a bummer!  this listing doesn’t have any photos to share with you.  But interestingly enough, the Caribbean also made the Top 3 Most Expensive Miami Beach Condo sales last month.  I’ll reiterate what I said about this spectacular project:

It’s located in a historic district and the original Caribbean Hotel was designed by famed architect L. Murray Dixon – the original hotel was restored and a new residence tower constructed right next to it to compliment the newly restored ambiance.  What’s happening in the location of The Caribbean is incredible – including the recently announced site for the New Edition Hotel by Marriott – which only reinforces how much money is being pumped into this area of Miami Beach.

The MLS description simply states:

ONE OF A KIND PH IN THE SKY! 180 DEGREE VIEWS. PRIVATE ROOFTOP POOL, JACUZZI AND BBQ AREA. ITS A STEAL!!

Features:

• 3,906 square feet of living space
• private rooftop pool and jacuzzi
• built in 2009
• 4 bedrooms / 4 bathrooms / 1 half-bathroom
• Oceanfront building
• 2 parking spaces
• Maintenance fees = undisclosed

July’s Third Most Expensive Miami Beach Condo Sale

Residences at The Bath Club: 5959 Collins Ave, #1406 – Miami Beach, FL 33140

Listed for $2,995,000 and sold for $2,550,000 on 7/23/2010

The residences at The Bath Club could be considered a controversial project finished in 2005.  The Bath Club for years was devoted to the “elite” and it was impenetrable – known as Miami Beach’s “Most Time Honored Private Beach Club.”  Exclusivity was breached after a multi million-dollar addition and restoration of their historic clubhouse where The Bath Club started accepting a “limited” number of new members.  The new added Bath Club residences were not welcomed by a lot of the old members.  The MLS description reads:

Spacious 4 bedroom with maid’s, this is a family home difficult to find in a resort setting. Historic clubhouse with restaurant,2 clay tennis, fitness/spa, full service at pool and beach. Unit features Italian cherry kitchen w all stainless Sub Zero, Miele. Mid beach location close to Bal Harbour Shops, So Beach and airport. One of the best buildings on the beach.

Features:

• 4,135 square feet of living space
• 550 square foot balcony/terrace
• built in 2005
• oceanfront building
• 4 bedrooms / 5 bathrooms / 1 half-bathroom
• 1 parking space
• Maintenance fees = $4,150 / month

**all information obtained from the SouthEast Florida Multiple Listing Service**

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There are 17 El Portal homes currently listed:

• Highest priced listing is $549,000 (69 NE 87th St – true 4-bedroom, totally remodeled home)
• Lowest priced listing $145,000 (8295 NE 3rd Ave)
• Pending sales (properties under contract): 7
• Closed sales in July: 1

The El Portal home sold in July was 242 NE 89th Street which was a short sale listed for $250,000 and sold on July 21 for $233,000.  The home appeared under contract since March of this year and took 3 months to close.

There have been 23 El Portal homes sold this year with the highest sale being $439,000 for the 2,800 square foot home located at 315 NE 88th Street; and the lowest sale for the foreclosure property at 180 NW 88th Street listed for $99,900 and selling for $99,900.

El Portal’s listings are priced all over the place considering the average price per square foot is currently $113 according to this year’s closed sales.  The highest and only sale above $200/sq.ft. was for 283 NE 86th Street, selling at $257/ sq. ft. and lowest at $54/ sq. ft. for a foreclosure.

As always, El Portal’s recuperation will depend on sellers’ willingness to price correctly from the start, which will move properties quickly.  Please keep in mind that 59% of the current inventory in El Portal are distressed sales (short sales and foreclosures), and 57% of pending sales are also distressed.  As soon as the distressed inventory starts decreasing, it will also stimulate recovery in that market.

**all information obtained from the SouthEast Florida Multiple Listing Service**

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There were 18 Miami Beach homes sold in the month of July 2010.  The highest sale was for $2.175 million and the lowest was a Normandy Island short sale at 765 S Shore Drive, selling for $350,000 on July 28th.  This month’s sales certainly do not represent the Miami Beach Luxury Home market, but that’s expected for a slow Summer month.  One thing is for sure though, with the distressed market diminishing each month, we are, without a doubt, looking at a recuperating market.

July’s Most Expensive Miami Beach Home Sale

81 N Hibiscus Dr – Miami Beach, FL 33139

Listed for $2,750,000 and sold for $2,175,000 on July 30th, 2010

Steffi Graf’s home finally sells!! After 3 years of listing the property with an original asking price of $3.5 Million.  This was one of the lingering listings that everyone hoped would sell, starting with yours truly.  Back in April in an article titled, Steffi Graf’s House for Sale in Miami Beach, and in the comment section said I thought the house would sell in the low $2M’s…so I was right!  Here’s what the article says:

I wrote this article back on September 3rd, 2007 (that’s 2 1/2 years ago!) and unfortunately, Steffi Graf’s house is STILL on the market today.  It is now priced at $2,750,000.  It has gone through price reductions to new Realtors and NOTHING! So what’s the problem here?  The house sits on Hibiscus Island with Northern exposure and gorgeous bay views as well as views of The Venetian Islands.  The MLS description now reads:

Charming Mediterranean home on this fantastic property on gated Hibiscus Island with stunning wide bay views.  This two-story residence encompasses over 3000 square feet including 4 bedrooms, 5 bathrooms.  60 feet of water frontage, pool and dock.  Enjoy the South Florida lifestyle; just minutes from downtown Miami or South Beach. Renovate or re-develop this amazing property located on one of Florida’s most prestigious islands.

The MLS history shows that it was under contract at the end of 2008 and didn’t sell.  Although the photos are better than the previous ones, this Hibiscus Island home is obviously stale and needs a marketing pick me up and can you say PRICE REDUCTION?

Features:

• 3,010 square feet of living space
• 10,500 square foot lot with 60′ of water frontage
• 4 bedrooms / 5 bathrooms
• built in 1935
• private dock
• pool
• 2-story home / Mediterranean revival
• Hibiscus Island location

July’s Second Most Expensive Miami Beach Home Sale

803 E Dilido Dr, Miami Beach, FL  33139

Listed for $2,485,000 and sold for $1,900,000 on June 2nd, 2010

Here’s a Venetian Island home that was originally listed for $2,695,000.  I submitted an offer for some clients almost a year ago under $2M and the listing agent guaranteed that it would sell above $2M – the seller never even countered!   This deal would have closed and saved the seller a year of expenses, goes to show that no offer is a bad one and sellers should consider all options.  The house was dated needing major upgrades including kitchen, bathrooms, windows and finishes and had no pool. MLS description read:

Wide bay views, open floor plan, entire second floor features the master bedroom with sitting and/or office room, wood floors, double bath, picture window overlooking great wide views. An art gallery room with pitched ceiling, kitchen counters and floors with carrera marble, room for a pool and lushly landscaped.

Features:

• 3,346 square feet of living space
• 10,500 square foot lot
• Eastern exposure with 60 feet of water frontage
• 3 bedrooms / 3 bathrooms
• private dock
• room for pool
• built in 1939

July’s Third Most Expensive Miami Beach Home Sale

770 W 50th St, Miami Beach, FL 33140

Listed for $1,499,000 and sold for $1,230,000 on July 28th, 2010

Here’s a dry lot home (meaning NOT on the water), just North of Surprise Lake in a Miami Beach subdivision called Lake View Heights.  I just love seeing a meticulously maintained home from the 30′s.  This house was completely renovated with finishes appropriate to it’s style and in a great location in Miami Beach.  The MLS description read:

WALK IN AND FALL IN LOVE WITH THIS TASTEFULLY RENOVATED MEDITERRANEAN HOME ON FAMILY ORIENTED LAKE VIEW AREA. LIMESTONE & WOOD FLOORS THROUGHOUT, LRG FAMILY ROOM OVERLOOKING BACKYARD, POOL AND SPA. GOURMET KITCHEN, 4 OVERSIZED BEDRMS, A GREAT HOME FOR FAMILY LIVING & ENTERTAINING. TOTAL RENOVATION COMPLETED IN 2008.

Features:

• 3,727 square feet of living space
• 8,385 sq. ft. lot
• 4 bedrooms / 3 bathrooms / 1 half bathroom
• built in 1930
• completely renovated in 2008
• pool
• 1-car garage
• 2-story house

**all information obtained from the Southeast Florida Multiple Listing Service**

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You’ve heard about the LeBron effect.  You also recognize that buying near the Heat Stadium can be an amazing opportunity now that The Three Kings (LeBron James – Chris Bosh – Dwyane Wade),  will rule the NBA  <<I just want to make clear that if that sounds cocky, it’s because IT IS!!

Keep in mind that The Heat’s home opener game will be Friday October 29th (although they begin their 2010-11 season on Tuesday October 26th at TD Garden against the Boston Celtics….playing against none other than….ex-heat player SHAQ WHO?)

So what are your choices?

The obvious choices are right across the street from the Miami Airlines Arena with:

• Marina Blue
• 900 Biscayne Bay
• Ten Museum Park
• Marquis

The not so obvious choices are a bit further North in the Performing Arts District with buildings like 1800 Club.  Or you could go South into Downtown Miami, Brickell or even Brickell Key. The beauty of the area is that you have the Metromover to take you back and forth from the arena – free, clean, and functional public transportation in Miami (I never thought I would say that, but you have to see it to believe it).

Either way….we’re here to help – especially when buying bulk (we have the inside when dealing with Miami developers).  And did I mention there’s a price range for everyone…seriously, don’t miss out.  It’s unlike me to write such pitchy articles, but the calls from people wanting to be near the Miami Airlines Arena are crazy!

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This is a Miami Real Estate Market Report for July 2010.  We have talked about evidence of a recuperating real estate market in certain areas of Miami – unfortunately, some home owners interpret this to mean that they can list their homes at unrealistic prices.  This usually causes a set back in the recovery, especially because there are always Miami Realtors out there willing to take the listing at any price.  Please keep in mind that having realistic expectations is crucial to buy and sell a home in this market, especially if you really need to sell.  Put your egos aside, look at the numbers and don’t be irrational and unreasonable….it’s not rocket science.

Miami Shores Real Estate Market Report

There are currently 115 Miami Shores homes for sale (3 less than last month):

• Highest priced listing is $3.250 million (bay front home located at 1480 NE 103 Street – brand new amazing new listing)
• Lowest priced listing is $79,950 (bank owned foreclosure located at 274 NE 108th St with “ca$$$h only! due to conditions of home” warning)
• Pending Sales (Properties under contract):45 (4 more than last month)
• Closed sales in July: 10 (same as last month)

The 10 Miami Shores homes sold in June were the following:

• 249 Grand Concourse – listed for $649,000 and selling for $605,000 (active since June 09 with starting price of $799,000 and a few reductions)
• 1217 NE 100th St – listed for $459,000 and selling for $459,000 (under contract in less than a week and closing in 2 months)
• 41 NE 107th St – listed for $449,000 and selling for $430,000 (Active since February 2010 with starting price of $499,000 and selling in less than 5 months)
• 136 NW 96th St – short sale listed for $369,000 and selling for $347,000
• 10666 NE 11th Ave – listed for $349,000 and selling for $315,000
• 40 NE 105th St – short sale listed for $279,500 and selling for $265,000
• 68 NW 97th St – listed for $279,000 and selling for $270,000 (active for $345,000 since August 2009)
• 68 NW 100th St – Bank Owned Foreclosure listed for $275,000 and selling for $225,000
• 14 NE 108th St – listed for $260,000 and selling for $250,000
• 9302 NW 2nd Ct – bank owned foreclosure listed for $148,500 and selling for $141,000

Price per square foot is slowly increasing in Miami Shores, distressed property inventory decreasing with “blow out” deals being homes priced for land value only because of condition of home…and only a couple of those left.  80% of the pending inventory (listings currently under contract waiting to sell), are distressed sales (meaning short sales and foreclosures).  A recuperating market also means that some sellers will think it’s the perfect opportunity for them to overprice their homes….those are the ones that will sit on the market without selling.  Please note from the closed sales, that the homes that sell quickly are the ones that are priced competitively.

Bay Harbor Islands Real Estate Market Report

There are currently 17 Bay Harbor Island Homes for sale: (2 less than last month)

• Highest priced listings is for $3,800,000 (10340 W Broadview Dr)
• Lowest priced listing is $679,500 (1210 103 St – Active since January 2009 with starting price of $915,000)
• Pending Sales (properties under contract):3 (1 more than last month)
• Closed sales in July: 0

No sales in July either with only 3 home sales this year in Bay Harbor Islands. The 3 Bay Harbor Island Homes currently under contract are:

• 9641 Broadview Te – pending since 7/20/2010
• 1311 95 St – pending since 01/02/09  (this is obviously a broker not checking their MLS)
• 9825 Broadview Te – pending since 5/01/2010

Surfside Real Estate Market Report

There are currently 59 Surfside homes for sale: (8 more than last month)

• Highest priced listing is $5,900,000 (1249 Biscaya Dr – 100 feet of water frontage on 15,000 sq. ft. lot)
• Lowest priced listing is $279,000 for the home located at 8858 Harding Av (Short sale on a really busy street)
• Pending Sales (properties under contract): 10 (4 less than last month)
• Closed sales in July: 1 (2 less than last month)

The 1 Surfside home sold in July was the following:

• 8927 Byron Ave – short sale listed for $475,000 and selling for $390,000 (this home had been active since November of 09 with original listing price of $490,000)

6 of the 10 properties currently under contract are distressed sales (short sales and/or foreclosures) – this high percentage usually demonstrates the end of the distressed cycle and a recuperating market.  The single-home inventory available in Surfside still shows quite a bit of overpricing, which should be corrected in the next few months if those owners really want to sell.

There are currently 147 Surfside Condos for sale: (10 more than last month)

• Highest priced listings: $2,400,000 a 3/3.5 at Azure Condo unit 407 and $2,400,000 for a 3/3 at Solimar Condo unit 1207/6
  

• Lowest priced listing: $90,000 for a 1/1 short sale at Sunset Condo
  

• Pending Sales (properties under contract):26 (5 less than last month)

• Closed sales in July: 8 (same as last month)

The 8 Surfside condo sales in July were the following:

• Champlain Towers – 8777 Collins Av #510– listed for $650,000 and selling for $625,000
• Azure Condo – 9401 Collins Av #901 – listed for $498,000 and selling for $450,000
• The Waves Condo – 9455 Collins Av #603 – listed for $349,000 and selling for $330,000
• Surfside Towers – 9511 Collins Av #1110 – listed for $259,999 and selling for $235,000
• Spiaggia Ocean – 9499 Collins Av #507 – listed for$224,900 and selling for $210,000
• Four Winds Condo – 9225 Collins Av #905 – listed for $199,900 and selling for $185,000
• Regent Palace Condo – 9309 Collins Av #3 – listed for $139,900 and selling for $125,000
• Sunset Condo – 9248 Collins Av #205 – listed for $91,000 and selling for $81,100

Surfside Condos sold in the month of July were in the lower end of the condo inventory with only 2 of those being distressed (Spiaggia and Sunset – foreclosures).  Surfside Condos will surprise a lot of our picky buyers because you can find luxury and gorgeous views in beautifully maintained boutique style buildings and maintenance fees are manageable – it’s a perfect place for second home buyers.

Fisher Island Real Estate Market Report

There are currently 120 Fisher Island Condos for sale: (5 more than last month)

• Highest priced listing: $30,000,000 for an exclusive Oceanside 5/5.5 home with artwork and all!
• Lowest priced listing: $190,000 for a studio at Marina Village
• Pending Sales: 7 (3 less than last month)
• Closed sales in July : 2 (2 less than last month)

The 2 Fisher Island condo sales in the month of July were the following:

• Palazzo Del Mare – 7183 Fisher Island Dr – listed for $3,900,000 and selling for $3,200,000
• Palazzo Del Mare – 7182 Fisher Island Dr – listed for $3,200,000 and selling for $2,750,000

Here we are seeing, once again, a huge disparity between listing and sales price – with a $700k reduction in one and $450k in the other.  Most don’t realize that Fisher Island makes the perfect second home for those that like and need privacy…selling at a loss is not a problem as long as both parties are reasonable with terms and conditions.  There are deals to be found and incredible opportunities out there, but you need to know how to handle them and cannot be arrogant about the transaction (absurd to think that arrogance can kill a real estate deal no?).

Aventura Real Estate Market Report

There are currently 1433 Aventura condos for sale: (18 less than last month)

• Highest priced listing: $12,000,000 for a 5/6 at Porto Vita
• Lowest priced listing: $45,000 for a 1/1 short sale at Point East (a 55+ community)
  
• Pending sales: 288 (8 less than last month)
• Closed sales in July: 70 (3 less than last month)

The highest Aventura condo sale in the month of July was for the 3 bedroom, 3.5 bathroom residence at Atlantic I at The Point – 21200 Point Pl #2104 – a professionally decorated unit by designer Male-Cahlin – listed for $1,350,000 and selling for $1,200,000

The lowest Aventura condo sale in July was for the 1 bedroom, 1 bathroom foreclosure at The Commodore Plaza.  It was listed for $67,200 and selling for $63,500.

We were quoted by The Miami Herald this past week with regards to the Aventura Condo Market saying the following:

I can tell you that Aventura is lagging a bit behind when it comes to a recuperating market. If you take a look at the monthly real estate market reports I do for the Aventura area, you will see that there is still quite a large percentage of distressed sales (meaning short sales and foreclosures) listed for sale – making up about 25% of the sales inventory.

In the last few months, the amount of distressed inventory has remained the same, but we can expect this number to start decreasing in the next 4-6 months if it follows some of Miami’s “recuperating” areas.  Also note that of the currently pending contracts, or condos under contract, about 65% of those are distressed sales (that number has also remained steady in the last few months).

**all information obtained from the SouthEast Florida Multiple Listing Service**

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People constantly ask me what type of Miami Real Estate or Miami Beach Real Estate I specialize in – is it price range? Is it an area? Is it residential real estate or commercial real estate?  Well…..the answer is any real estate in Miami Beach or Miami’s Biscayne Corridor that is architecturally relevant.

A puzzled look usually follows – what in the world is Architecturally Relevant Real Estate? And why would you specialize in that?

It is common knowledge that if you do what you love, you will be good at it.  If you find your passion and what makes you tick, not only will you enjoy your job, but you will rock at it.  That’s the answer.  I am an architect and light up when I walk into good space, no matter the scale.

Sketch by architecture master Le Corbusier

Whether it is a Miami Beach Luxury Home or a modest Design District Loft – when a space is well designed, following common proportion and context principles, it makes a huge difference.  I was just discussing this past week with clients that just bought a Midtown Condo, how a space doesn’t have to be gaudy or extravagant to be good – there’s a fine line between modest architecture and trendy design that makes good real estate pure and timeless.  Our best clients appreciate good architecture and have a discerning eye – they don’t go for the price just because and can see beyond superficial selling techniques.

Tomorrow we will list a modest MiMo home in Miami Shores designed by well-known mid-century architect, Ungaro.  The house has been owned by the same family since it was built, has not been butchered and although it needs a new roof, electrical, plumbing and central air conditioning – has all the great features of a mid-century home:  from Terrazzo, clerestory lighting and pitched roof.  This house will only be appreciated by someone that knows architecture and will be willing to go through the restoration process.

I love Miami because we have a little of everything and I have so much fun with its eclectic architecture.  Historic Mediterranean Revival homes give me goose bumps, as do South Beach Art Deco lofts.  We have unbelievable talent from Chad Oppenheim to Arquitectonica and Miami Beach Luxury Condos have come a long way from the days of Alfred Browning Parker or even Morris Lapidus.

I have to admit that I find some buildings boring, but sometimes location and views make up for it.  Unfortunately for you, I will be brutal about the “un-architecture” of the space…..if there’s such a thing.  Bottom line, I have fun when I show properties – if you are looking for boring “here’s the kitchen, there’s the bathroom”….I will do you absolutely no good.  We are not your everyday, run-of-the-mill Realtors, our clients tell us so and we look forward to creating new relationships and experiences with every single person we meet.

**Update:  since I first wrote this article, on November 16th, 2008, the Miami Shores MiMO home was purchased by a couple that loved the architecture and was able to see past the work the home needed…they are doing a beautiful job with the restoration and complimenting existing details with new addition**

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There were 195 Miami Beach condos sold in the month of June of 2010. The disparity in pricing is surreal to say the least, and ranged from $30,000 for a 1 bedroom / 1 bathroom, 667 sq.ft. foreclosure at Marseille Condo in Normandy Island to $15 Million for a penthouse villa at The Setai.  21 of those sales were condos over $1 Million and only 2 of the 21 were over $5 Million.  What’s amazing about Miami Beach condo sales today is that most are cash deals.  I’ve talked to a few colleagues who have admitted to not doing a financed deal in over 2 years!  Personally, I don’t blame them, some of the bank underwriting requirements nowadays can be ridiculous, to say the least.  In the month of June, The Setai, Apogee and The Caribbean made the list of The 3 most expensive Miami Beach condos sold.

June’s Most Expensive Miami Beach Condo Sale

The Setai Resort & Residences: 101 20th Street – Miami Beach, FL 33139

Listed for $19,999,999 and sold for $15,000,000 on 06/04/2010

The Setai is the epitome of luxury, service and prized oceanfront property in South Beach.  It’s an amazing oceanfront resort hotel adjoined by a 40-story residential tower with tropical gardens, pools and sundecks that lead you to the gorgeous beaches of the Atlantic Ocean.  Now that I’ve set the tone, imagine the whole 40th floor of the Setai with over 6,000 square feet of living space, over 4,000 square feet of terraces with private pool, garden and outside dining area.  Completely furnished and with the most amazing views.

PH Villa B had been on and off the market for a while and was purchased in 2004 for $9.5 Million before finally selling last month.  The listing description read:

Palace in the sky! The ‘Imperial Suite’ is the only fully furnished penthouse in the Setai Hotel Rental Program. One-of-a-kind terrace with pool, garden, & outdoor dining areas. This PH encompasses the entire 40th floor (6,000sqft interior/4,000sqft terrace) offering stunning, panoramic ocean, intracoastal, and city views. Price includes all art, electronics and furnishings by renowned architectural design team. Rack rate offered for this unit is $30,000/night.

Features:

• 6,208 square feet of living space
• built in 2005
• over 4,000 of terraces and outside living spaces
• private pool
• designer furnished
• 4 bedrooms / 4 bathrooms / 1 half-bath
• 4 parking spaces
• Hardwood floors
• Maintenance = $13,053/month

June’s Second Most Expensive Miami Beach Condo Sale

Apogee South Beach:  800 S Pointe Drive, #604 – Miami Beach, FL 33139

Listed for $6,250,000 and sold for $5,800,000 on 6/21/2010

Apogee is all about modern Luxury and location – the South of Fifth address with the most accolades.  And proof is in the pudding when we keep seeing record breaking sales month after month.  Unit 604 is equivalent to last months 904 sale of $6.55 Million, but at a much better value – also considering 904 was designer ready and this was was not.  The difference in price per square foot is $181, which many could argue is worth the 3 higher floors (but I doubt it).  The property was listed in January 2009 with a starting price of $6.25 Million.  The MLS screams:

STAR ISLAND IN THE SKY, SOUTH OF FIFTH! ULTIMATE LIFESTYLE, PERSONAL SERVICE & HOTTEST DINING SPOTS. READY TO MOVE IN WITH 36 BY 36 LIMESTONE FLOORS THROUGHOUT, 4 BEDROOMS, MEDIA ROOM, & 2450 SQ. FT. WITH 11 FT. WIDE WRAPAROUND BALCONY W/SUMMER KITCHEN. AMAZING GOURMET KITCHEN W/GAS COOK TOP, MIDNIGHT KITCHEN IN MASTER W/DOUBLE STEAM SHOWER. 2 CAR A/C GARAGE. 5 STAR LIVING FOR THE CLIENT WHO WANTS THE BEST! UNIT SQ.FT. AS PER DEVELOPER

Features:

• 4,154 square feet of living space
• 2-car a/c garage
• 4 bedrooms / 3 bathrooms / 1 half bathroom
• summer kitchen
• limestone floors
• 2,450 sq.ft. – wraparound terrace/balcony
• Midnight kitchen in Master bedroom
• Maintenance = $5025/month

June’s Third Most Expensive Miami Beach Condo Sale

The Caribbean Condo: 3737 Collins Ave, #PH-1 – Miami Beach, FL 33140

Listed for $3,900,000 and sold for $3,500,000 on 6/15/2010

The Caribbean Condo is a luxury ocean front high-rise between South Beach and Millionaire’s Row.  It’s located in a historic district and the original Caribbean Hotel was designed by famed architect L. Murray Dixon – the original hotel was restored and a new residence tower constructed right next to it to compliment the newly restored ambiance.  What’s happening in the location of The Caribbean is incredible – including the recently announced site for the New Edition Hotel by Marriott – which only reinforces how much money is being pumped into this area of Miami Beach.

So here we have a penthouse unit with Eastern as well as Western views where you get the best of both worlds – ocean views in the day and city lights at night.  It was originally listed for $3.9 Million in December of 2009.  MLS reads:

ABSOLUTELY AMAZING! THIS STUNNING PENTHOUSE IS THE NICEST AVAILABLE IN MIAMI BEACH! 3900+ SQ FT, 4/4.5, SPECTACULAR PRIVATE MASTER SUITE, DIRECT EAST AND WEST VIEWS, SUMMER KITCHEN, AND ENDLESS VIEWS OF MIAMI BEACH! ONE OF A KIND – A MUST SEE!

Features:

• 3,900 square feet of living space
• 1,625 sq. ft. of balcony/terrace
• built in 2009
• 1 parking space
• designer ready
• 4 bedrooms / 4 bathrooms / 1 half-bathroom
• Maintenance = $2,418 / month

**all information obtained from the SouthEast Florida Multiple Listing Service**

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We all know Miami Beach Condos have awesome views, but why do so many South Americans and Europeans buy in Brickell?  For one, the views are just as amazing (some may even say better), and you have the incredible Brickell night life.  But most of all, location is beyond convenient with proximity to everything, including downtown Miami, airport, Coral Gables and Key Biscayne.

In the 80′s, there was a South American Brickell Condo craze and that died down with all the economic and political issues we don’t like to discuss here in Miamism – if you want politics….Miamism.com is NOT the place   Somehow Ugo Colombo had a vision when he decided to build The Bristol Tower and later Santa Maria Condo – and I’m happy to say….. BRICKELL IS BAAAACK!!

Here are 2 incredible examples of Brickell Condos with those Amazing city and Bay Views that take you all the way to Miami Beach and beyond – both by Ugo Colombo, with my expected commentary on design.

Santa Maria Condo – 1643 Brickell Ave #4702 – Miami, FL  33129

Listed for $5,250,000

Santa Maria is another Ugo Colombo Brickell Condo.  When everyone thought he was crazy for building his white towers, he was just fattening his already hefty wallet.  I have to admit that the scale of the building bothered me a bit at first and the proportion of the common areas with regards to the actual density of the building were off quite a bit, but the amenities and undeniable comfort of this tower are worth its price.

This 47th floor penthouse has over 2,000 square feet in terraces with views of the city and Biscayne Bay – but don’t take my word for it, just look at the photos.  The MLS description reads screams in all caps:

STUNNING VIEWS FROM THIS 47TH FLOOR 5 BEDROOM, 6 BATHS UNIT AT SANTA MARIA.  UNIT HAS MARBLE FLOORS AND WOOD FLOORS THROUGHOUT, EXPANSIVE TERRACES WITH EAST VIEWS OF KEY BISCAYNE, BAY AND MIAMI BEACH AND WEST VIEWS OF DOWNTOWN MIAMI, COCONUT GROVE AND CITY SKYLINE. UNIT HAS NEUTRAL TONES AND HAS BARELY BEEN LIVED IN.

Condo features:

• 6,300 sq.ft. of living space
• built in 1997
• 5 bedrooms / 6 bathrooms / 1 half-bath
• 3 parking spaces
• valet parking
• marble and hardwood floors
• boat dock available
• Maintenance fees = $4085/month

The Bristol Tower – 2127 Brickell Ave #702/31 – Miami, FL 33131

Listed for $3,950,000

Here’s an iconic building that set the pace for the rest of the new developments on Brickell.  I was a bit upset about the phallic quality of the building when it was first erected (no pun intended).  It was a skyscraper in the middle of Brickell’s residential towers!  Its placement was off and was destroying the scale of Miami’s Skyline.  The tower was cylindrical and interior spatial arrangement left a lot to be desired.  I visited a few penthouse units in 1993 before the building was finished (including El Puma’s unit) and all my architectural logic went out the window when I sat there mesmerized by the views.  I sat there in silence taking it all in and instantly understood that my architectural romanticism was less important than the experience of a space like that.

This particular condo is on a lower floor, which only means you are closer to the water level and although the views are not as broad, the ambiance of this residence is unreal.  MLS also screams in all caps:

SPECTACULAR 2 STORY ULTRA MODERN CONDO. THIS IS A UNIQUE 3-UNIT COMBO. VAST ENTERTAINMENT AREAS AND WRAP AROUND BALCONIES. ELEGANT ITALIAN DESIGN FEATURES AND FINISHES. DRAMATIC 2 STORY BAY-FRONT WINDOWS IN LIVING ROOM. LARGE GOURMET KITCHEN OPEN TO FAMILY ROOM. A MODERN MARVEL WITH EXQUISITE ELEGANT FUNCTIONAL SPACES.  INCREDIBLE VIEWS OF THE BAY AND THE TREE TOPS FROM EVERY ROOM. MAGNIFICENT DETAILS PERFECTLY EXECUTED. MAGNITUDE AND SCALE OF A LARGE FAMILY HOUSE WITH THE AMENITIES OF A LUXURY CONDO.

Condo features:

• 7,620 sq.ft. of living space
• 9 bedrooms / 6 baths / 1 half-bath
• 2-story residence
• 5 parking spaces
• built in 1993
• valet parking
• marble and hardwood floors
• maintenance = $5000/month

*information courtesy of Southeast Florida multiple listing service, Luxury Living Realty and Re/Max Elite Properties, Inc.*

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