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**

Related Articles:

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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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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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**

Related Articles:

This is a Miami Real Estate Market Report for June 2010 – not much change from May to June which can be a bit disappointing for those sellers that were getting excited about a recuperating market in some areas of Miami.  This is a clear indicator that the Miami and Miami Beach real estate recovery will happen slowly with some back steps along the way.  What to expect? less distressed inventory in popular areas, less flexibility from sellers in lower price ranges and my all time favorite, “the doubtful pessimists” that will hold back and will miss the boat <<I’m being sarcastic and yes I’ll enjoy the “I told you so”.

Miami Shores Real Estate Market Report

There are currently 118 Miami Shores homes for sale (9 more 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 $79,900 (bank owned foreclosure located at 175 NW 101 St. with “in need of repairs” warning)
• Pending Sales (Properties under contract):41 (1 less than last month)
• Closed sales in June: 10 (3 less than last month)

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

• 441 Grand Concourse – listed for $850,000 and selling for $855,000 (one of Miami Shores Grand Scaled Homes with Colonial Facade, sold as a short sale and taking almost 10 months to close!!)
• 1140 NE 100 St – listed for $625,000 and selling for $530,000
• 1208 NE 98th St – listed for $377,000 and selling for $377,000 in one day!
• 10565 NE 2 Ct – listed for $349,500 and selling for $327,500
• 153 NW 100 Te – listed for $329,000 and selling for $323,500 (true MiMO gem)
• 9717 NE 1 Ave – listed for $247,500 and selling for $255,000 in 2 days!
• 103 NW 103 St – listed for $239,500 as a short sale and selling for $205,000 (4 months to close)
• 150 NW 100 Te – Bank Owned Foreclosure listed for $200,000 and selling for $200,000
• 10317 N Miami Av – listed for $199,000 and selling for $191,900
• 10535 NW 2 Ct – Bank Owned Foreclosure listed for $64,900 and selling for $72,000

The first half of 2010 is making the Miami Shores real estate market look great.  Average price per square foot is slowly increasing from $153 in 2009 to $163.  There have been 67 Miami Shores homes sold this year ranging from $41,000 to $933,000 (and only 15 of those selling above $200/square foot).  Keep in mind that the Luxury market is still not moving and waterfront listings are just sitting there – there ARE some great properties for sale on the water…and this may be the time to move on them.

The homes that are moving and selling quickly are those under $500,000 – so if you are thinking of selling above that, you have to make sure your home is in tip top showing condition!

Bay Harbor Islands Real Estate Market Report

There are currently 19 Bay Harbor Island Homes for sale: (1 more 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):2 (2 less than last month)
• Closed sales in June: 1

From 4 pending sales to 2 with one closed sale – what happened to the other contract? we can only assume the deal fell through.  Only 3 Bay Harbor Islands homes have sold this year compared to 2 in 2008 and 6 in 2009.  Things remain unchanged here with not much data to make real comparisons and give a true perspective of Bay Harbor Islands real estate.

The Bay Harbor Island home that sold in June was located at 1288 101 St – short sale listed for $450,000 and selling for $421,000.

Surfside Real Estate Market Report

There are currently 51 Surfside homes for sale: (7 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): 14 (1 less than last month)
• Closed sales in June: 3 (2 less than last month)

The 3 Surfside homes sold in June were the following:

• 9188 Bay Dr – listed for $850,000 and selling for $800,000 (waterfront short sale
• 9365 Dickens Av – listed for $379,000 and selling for $295,000
• 9333 Carlyle Av – listed for $245,000 and selling for $217,000

There have been a total of 25 Surfside Homes sold this year ranging from $217,000 to $800,000 with no movement in the Luxury waterfront market (very much like Miami Shores).  Keep in mind that there were a total of 44 Surfside homes sold in 2009 and 32 in 2008 – slight improvement, which gives hope to locals and those relocating to Surfside.

There are currently 137 Surfside Condos for sale: (2 less 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: $105,000 for a 1/1 short sale at Sunset Condo
  

• Pending Sales (properties under contract):31 (2 more than last month)

• Closed sales in June: 8 (2 more than last month)

The 8 Surfside condo sales in June were the following:

• Solimar Condo – 9559 Collins Av #S9-B – listed for $2,150,000 and selling for $1,850,000
• Champlain Towers – 8777 Collins Av #PH-1 – listed for $675,000 and selling for $570,000
• Azure Condo – 9401 Collins Av #604 – listed for $665,000 and selling for $615,000
• Solimar Condo – 9559 Collins Av #S7-G – listed for $585,000 and selling for $535,000
• Spiaggia Ocean Condo – 9499 Collins Av #303 – listed for $235,000 and selling for $190,000
• Carlisle on the Ocean – 9195 Collins Av #810 – listed for $195,000 and selling for $196,000
• Waverly at Surfside Beach – 9172 Collins Av #312 – listed for $175,000 and selling for $155,000
• Carlisle on the Ocean – 9195 Collins Av #409 – listed for $170,000 and selling for $170,000

The Carlisle has been moving in the past few months with a lot of sales.  Keeping in mind that this is an all-cash building because it’s neither Fannie Mae not FHA approved – it means there is light at the end of the tunnel for The Carlisle.  It’s also great to see Luxury sales starting to move – Surfside Beach is one of my favorites, don’t discard it if you are looking for a Luxury Condo in a quiet area of town.

There have been 45 Surfside condos sold this year ranging between $122.500 and $1,850,000.

Fisher Island Real Estate Market Report

There are currently 115 Fisher Island Condos for sale: (2 less 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: 10 (same as last month)
• Closed sales in June : 4 (1 more than last month)

The 4 Fisher Island condo sales in the month of June were the following:

• Bayview at Fisher Island– 4931 Fisher Island Dr – listed for $3,200,000 and selling for $2,600,000
• 5000 Bayview at Fisher Island – 5044 Fisher Island Dr – listed for $2,890,000 and selling for $2,500,000
• Oceanside – 8031 Fisher Island Dr – listed for $2,498,000 and selling for $1,800,000
• Seaside Villas – 15923 Fisher Island Dr – listed for $820,000 and selling for $750,000

We are seeing a huge disparity between Fisher Island listing and sales prices.  It seems that owners are being flexible and realizing that they most sell at a loss rather than keep the inventory.  We have seen 19 Fisher Island condo sales this year which is not bad considering that there were 25 total sales in 2008 and 32 in 2009.

Aventura Real Estate Market Report

There are currently 1451 Aventura condos for sale: (29 more than last month)

• Highest priced listing: $12,000,000 for a 5/6 at Porto Vita
• Lowest priced listing: $54,000 for a 1/1 foreclosure at Biscayne Lake Gardens
  
• Pending sales: 296(18 less than last month)
• Closed sales in June: 73 (2 more than last month)

The highest Aventura sale in the month of June was for the 4 bedroom, 4.5 bathroom project at Williams Island – a custom home “Villa Flora” (1515 Island Bl #401 in Williams Island) which was listed for $2,950,000 and sold for $2,300,000.

The highest Aventura condo sale in June was for the 5 bedroom, 5 bathroom residence at The Courtyards at The Point – 3707 NE 214th St #14 – listed for $1,395,000 and selling for $1,250,000.

The lowest Aventura condo sale in June was for the 1 bedroom, 1 bathroom short sale at Biscayne Lake Gardens.  It was listed for $69,000 and selling for $55,000.

There have been only 486 Aventura Condos sold this year ranging in price from $42,500 to $2,350,000 compared to 824 sales in 2009 and 1020 sales in 2008 – I’m thinking Aventura is still has a bit to go to start recuperating, especially because of the price disparity in inventory and the amount of construction we saw as well as speculative purchases.

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

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This is a Miami Real Estate Market Report for May 2010 – from Miami Shores to Fisher Island, there is a high percentage of distressed properties currently under contract which should be a clear indicator that distressed inventory is slowly dwindling down.  Of course, in some areas like Aventura, you still have a chance to get a great deal, but in a few months, those will be a thing of the past.  Will sales slow down in the months of July and August like we have been accustomed?  Let’s wait and see.  As for the luxury market, things are looking up – we’re seeing movement in the high end luxury sector of Miami Beach homes.

Miami Shores Real Estate Market Report

There are currently 109 Miami Shores homes for sale (7 more 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 $148,500 (bank owned foreclosure located at 9302 NW 2nd Ct.)
• Pending Sales (Properties under contract):42 (6 less than last month)
• Closed sales in May: 13 (3 more than last month)

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

• 9835 NE 4 Rd – listed for $515,000 and selling for $480,000
• 650 NE 97 St – listed for $499,000 and selling for $475,000
• 1480 NE 102 St – bank owned foreclosure listed for $375,000 and selling for $430,000 (to one of our local real estate agents who jumped on a very smart deal)
• 848 NE 91 St – listed for $349,000 and selling for $315,000
• 113 NE 105 St – listed for $289,900 and selling for $257,000
• 158 NW 94th St – listed for $285,000 and selling for $250,000
• 144 NE 101 St – listed for $279,500 and selling for $282,000
• 10010 NE 1 Ave – short sale listed for $250,000 and selling for $293,000 (taking 2.5 months for approval)
• 58 NW 104 St – listed for $249,500 and selling for $227,000
• 803 NE 91 Te – short sale listed for $245,000 and selling for $245,000
• 189 NW 100 Te – short sale listed for $199,000 and selling for $165,000
• 17 NW 107th St – short sale listed for $189,500 and selling for $180,000
• 46 NW 95th St – short sale listed for $135,000 and selling for $125,000

It’s important to note that the distressed inventory in Miami Shores is the lower priced-ranged homes and that inventory is slowly disappearing.  Of the 109 Miami Shores homes currently listed in the MLS, 4 are foreclosures and 30 are short sales, which represents 31% of the inventory.  Out of the 42 pending sales, 31 are distressed!! (74 % of the homes under contract are either short sales or foreclosures).  I will venture to say that once this inventory is gone, the market will be home free.

Bay Harbor Islands Real Estate Market Report

There are currently 18 Bay Harbor Island Homes for sale: (same as 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):4 (same as last month)
• Closed sales in May: 1

The Bay Harbor Islands home sold in May was located at 1210 102 Street.  It was listed for $699,000 and sold for $620,000 on May 6, 2010.  This home had been listed since April of 09, with a starting price of $899,000 and a couple of Realtor changes and price reductions.  Of the 18 Bay Harbor Islands homes listed, only 2 are short sales and of the 4 currently under contract, one is a short sale.

Surfside Real Estate Market Report

There are currently 44 Surfside homes for sale: (same as last month)

• Highest priced listing is $3,495,000 (1300 Biscaya Dr – unbelievable Home by MiMO architect Igor Polevitzk)
• Lowest priced listing is $160,000 for the home located at 8927 Froude Ave (Short sale)
• Pending Sales (properties under contract): 15 (same as last month)
• Closed sales in May: 5 (same as previous month)

The 5 Surfside homes sold in May were the following:

• 9473 Bay Dr – listed for $395,000 and selling for $375,000
• 8843 Abbott Av – bank owned foreclosures listed for $368,970 and selling for $355,000
• 9249 Carlyle Av – short sale listed for $335,000 and selling for $335,000
• 9156 Harding Av – short sale listed for $285,000 and selling for $245,000
• 9173 Carlyle Av – short sale listed for $259,000 and selling for $262,000

Surfside’s real estate market is looking a lot like Miami Shores, with distressed inventory in the lower range and no Surfside luxury homes selling at all.  Out of the 44 Surfside homes currently listed, 8 of them are distressed (18%) and 53% of the pending sales also being distressed.

There are currently 139 Surfside Condos for sale: (1 more than last month)

• Highest priced listing: $2,500,000 a 3/3 at Azure Condo unit 707
  

• Lowest priced listing: $91,000 for a bank owned one bedroom at Sunset Condo
  

• Pending Sales (properties under contract):29 (7 less than last month)

• Closed sales in May: 6 (2 more than last month)

The 6 Surfside condo sales in May were the following:

• Azure Condo – 9401 Collins Av #504 – listed for $660,000 and selling for $600,000
• The Waverly at Surfside – 9201 Collins Av #425 – listed for $559,000 and selling for $505,000
• Spiaggia Ocean Condo – 9499 Collins Av #511 – listed for $250,000 and selling for $225,000
• 9500 Oceans Condo – 9511 Collins Av #605 – listed for $189,000 and selling for $182,000
• Carlisle on The Ocean – 9195 Collins Av #1006 – listed for $189,000 and selling for $205,000
• Carlisle on The Ocean – 9195 Collins Av #311 -bank owned foreclosure listed for $138,225 and selling for $151,000

The Carlisle wins again with the most sales in the month of May.  Also a major decrease in distress inventory with 39 out of the 139 listings being short sales and foreclosures (28% of inventory) and 58% of pending sales!!  The Surfside condos lower end inventory is slowly disappearing, this is the time to jump on a great oceanfront condo deal.

Fisher Island Real Estate Market Report

There are currently 117 Fisher Island Condos for sale: (2 less 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: 10 (2 more than last month)
• Closed sales in May : 3 (1 more than last month)

The 3 Fisher Island condo sales in the month of May were the following:

• Seaside Villas – 15913 Fisher Island Dr – listed for $4,900,000 and selling for $2,650,000 (This unit had been listed since 07 for $5.6 million with several price reductions and brokerage changes – owners had bought it for $1,55 in 2002, so the 46% price reduction looks worse than it really is)
• Oceanside Fisher Island – 7823 Fisher Island Dr – listed for $3,100,000 and selling for $2,500,000 (this condo had been listed since May of 09 with a starting price of $4.6 million)
• Bayview at Fisher Island – 4153 Fisher Island Dr – listed for $2,750,000 and selling for $2,100,000 (listed on and off since 06 starting at $3.85 million)

Fisher Island’s Luxury market has definitely gotten hit, but the truth is that most of the residents are second home owners who can deal with the loss.  15% of the current Fisher Island Condo inventory is distressed with 15 short sales and 3 bank owned foreclosures.  The impressive number is the percentage of distressed properties from the pending sales – 30% of the current contracts in Fisher Island are short sales ranging between $525,000 to $1,095,000.  I suspect we will see the same projections in Fisher Island as the rest of the county – a decrease in short sales and foreclosures.

Aventura Real Estate Market Report

There are currently 1422 Aventura condos for sale: (1 less than last month)

• Highest priced listing: $12,000,000 for a 5/6 at Porto Vita
• Lowest priced listing: $58,500 for a 1/1 at Biscayne Lake Gardens
  
• Pending sales: 314 (7 more than last month)
• Closed sales in May: 71 (2 more than last month)

The highest Aventura Condo sale in the month of May was for the 5 bedroom, 5 bathroom residence at Bellamare (6000 Island Bl #401 in Williams Island) which was listed for $1,875,000 and sold for $1,457,000.

The lowest Aventura condo sale in May was for the 1 bedroom, 1 bathroom unit at Pointe East II (a 55+ community).  It was listed for $45,000 and sold for $42,500.

Aventura condos are a little behind the rest of the cities mentioned above when it comes to recuperating, which means deals are still to be found.  23% of its current condo inventory is distressed and 65% of the pending contracts are also distressed.  42% of Aventura condo sales in May were either short sales or foreclosures.

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

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There were 157 Miami Beach Condos sold in the month of April 2010, ranging from $5.9 million to $39,952 for a 406 square foot efficiency at The Beverly Arms. Ironically, 1/2 a year of condo fees at The Apogee would buy that efficiency in North Beach – that’s what we love about Miami Beach. Sales are definitely increasing, some say it’s because of the tax credit, but I doubt very much that Mr. Apogee or Setai buyer are looking for an $8k credit.

April’s Most Expensive Miami Beach Condo Sale

Apogee South Beach:  800 S Pointe Dr #1801 – Miami Beach, FL 33139

Listed for $6,795,000 and sold for $5,900,000 on 04/16/2010

Apogee is one of my favorite condos in Miami Beach because of its simple and austere facade – the views are ridiculous! and the building keeps living up to its name with record sales.  Although this particular unit was listed for $6,795,000 in may of 2009, the buyer got a 13% discount, which is not at all bad.  The MLS reads:

High floor corner unit at Apogee. 4 bedroom/3.5 bath residence. Lrg living room with fireplace. Large master suite with midnight kitchen. Media room and outdoor kitchen. Top of the line line appliances, exceptional woodwork in closets, sunken bathtub/ rain showers. Panoramic views of Fisher Island, Atlantic Ocean, Government Cut, South Beach. 2400 sf wrap-around terrace. 2.5-car enclosed garage. Apogee is the most exclusive building in South Beach and one of the most luxurious condominiums South of NYC

Features:

• 4,154 square feet of living space
• 4 bedrooms / 3.5 bathrooms
• Built in 2008
• 2 parking spaces
• 2400 square foot wrap-around balcony
• outdoor Summer kitchen
• Monthly maintenance = $5,046

April’s Second Most Expensive Miami Beach Condo Sale

Apogee South Beach:  800 S Pointe Drive, #2002 – Miami Beach, FL 33139

Listed for $5,750,000 and sold for $4,750,000 on 4/05/2010

Apogee is racking them up!  another fabulous unit on the 20th floor with endless views of Government Cut, Fisher Island and both sunsets and sunrises.  This one is a little smaller than 1801, but paying a bit more per square foot ($1,532/sq.ft as opposed to $1,420/sq.ft.).  This unit was listed for $5,750,000 in June of 2008 selling at a 17% discount.  Is there a magical $1 million off the list price at Apogee (I see a pattern in the last couple of months).  MLS reads:

Miami’s FINEST Full Service Boutique Bldg! Only 67 units S.of 5th Street! Highest Floor Available in “02″ w/11′ deep & 1000 sq.ft.Sunrise/Sunset Terr. w/floorthru views of Bay, Ocean & City. Only unit w/outdoor shower!Unit has double the Low Voltage Lighting Package & Upgraded Stone throughout. Outdoor Summer Kitchens; 2.5 Car enclosed garages w/AC; Resort-like pool deck,spa & fitness ctr. w/Sunset Views & Lush New State Park all by Yabu & Pushelberg Design Team.White-glove Concierge Services

Features:

• 3,100 square feet of living space
• built in 2008
• 2 parking spaces
• 3 bedrooms / 3 bathrooms
• 1000 square foot terrace
• outdoor Summer kitchen
• Monthly maintenance = $3778

April’s Third Most Expensive Miami Beach Condo Sale

The Setai – 101 20th St #A – Miami Beach, FL 33139

Listed for $5,500,000 and sold for $4,000,000 on 4/01/2010

The Setai is the epitome of luxury, amenities and pampering and although the photos of this raw unit will not say much to most of you, it’s a gorgeous blank canvas for any architect.  All you need is a little imagination and a bit of cash to make this space spectacular – I’m sure the lucky buyer will do just that.  You may even be thinking, “wait, you can’t finance that place” – truth is, most of these sales are cash deals….no worries about Fannie Mae or Freddie Mac in this market. MLS description reads as follows:

Great opportunity to own big space with direct ocean views at The Setai.  Sold raw or with The Setai’s famous architect plans.  Plans are for a three bedroom unit with a 20 foot ceiling direct ocean view living area.  Three balconies: northeast corner, southeast corner and direct south.  Opportunity to build out to your taste.

If only The Setai and The W would get together and do something about that ugly Days Inn they have in between them, it would make The area of The Bass Museum and Barclay Plaza so much more pleasant.

Features:

• 2,305 square feet of living space
• built in 2004
• 3 bedrooms / 3 bathrooms
• 1 parking space
• direct ocean views / ocean front condo
• monthly maintenance = $4846

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

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There were 17 Miami Beach homes sold in the month of April of 2010, ranging from $3.5 Million to $200,000 for a Short Sale in Normandy Island.  Seven of the 17 sales were properties over a million dollars. Also 7 of the 17 were distressed sales (5 short sales and 2 bank owned foreclosures).  Maybe there’s something in the number 7 – is there a Numerologist in the house?

Next month should show higher numbers as well, since the months of May and June are historically the hottest in the Miami Beach real estate market.

There was a tie for first place with 2 sales at $3.5 million.

April’s Most Expensive Miami Beach Home Sale

2324 N Bay Rd – Miami Beach, FL 33140

Listed for $4,500,000 and sold for $3,500,000 on April 30th, 2010

This Miami Beach luxury home had been originally listed for $6,499,999 in May of 2006.  (For those that may not know Realtor number speak, 9′s mean the price is firm – ironic how it ended up selling for almost half the price they intended).  The home was reduced a few times and was finally placed under contract in March and closing at the end of April.  The home certainly has charm and a fabulous view, but was not updated at all.  The MLS description reads,

Architecturally stunning Mediterranean home perfectly situated on exclusive North Bay Road.  Gated entrance leads to newly landscaped courtyard with coral walkway.  Enter through a towering ornate mahogany front door which leads to grand staircase.  100fton the water with dock and picturesque views of Sunset Lake.  Don’t miss this North Bay Road gem.

Features:

• 5,400 square feet of living space
• 20,000 square foot lot (100′ X 200′)
• 100 feet of water frontage with dock
• built in 1925
• 5 bedrooms / 5 bathrooms
• 2-car garage
• pool

April’s Most Expensive Miami Beach Home Sale

5415 Pinetree Dr, Miami Beach, FL  33140

Listed for $3,900,000 and sold for $3,500,000 on April 12th, 2010

Now this is a home that makes you look twice with the typical revered Mediterranean Revival style, but built new in 2001 (according to the MLS).  Tied at first place with 2324 N Bay Road for the 2 highest Miami Beach Home sales in April 2010.  The original house was sold for $3.3 million in  March of 2004 and I’m guessing was totally gutted and remodeled.  It’s history showing a $5.5 Million listing in 2008 with several price reductions.  The MLS description reads:

Spectacular gated Mediterranean waterfront estate w/ocean access on prestigious Pinetree Dr.  2001 mini palace w/courtyard entry, domed & coffered ceilings, arched doorways plus a multitude of architectural details.  Gourmet kitchen, music rm,bar,cascading pool overlooking the intracoastal waterway, gazebo, summer kitchen & entertainment deck.  Enjoy ocean and intracoastal water views from lavish master bd  with adjoining  terrace & gym and 3 additional spacious bd on 2nd fl level.

Features:

• 6,800 square feet of living space
• 12,083 square foot lot (74′ X 163′)
• 74 feet of water frontage with dock
• 2-car garage
• built in 2001
• 6 bedrooms / 6.5 bathrooms
• pool

April’s Second Most Expensive Miami Beach Home Sale

5835 Pinetree Dr, Miami Beach, FL  33140

Listed for $2,999,000 and sold for $2,800,000 on April 14th, 2010

Another Pinetree treasure, this one totally renovated but facing Millionaire’s row across the canal.  If I had a penny for each time I heard, “why would I pay THAT much for that view?” – the answer is simply, “because you are paying for Pinetree Drive prestige”.  The owners of this home paid $3.3 million in 2003 and lost over 1/2 million dollars after renovations – but they got to enjoy a great address for 7 years.  MLS reads:

$628 SQ FT on the water!! What a deal!! Totally renovated, tremendous curb apeal, pool & dock.  Price is FIRM.  see broker remarks for showings.

Features:

• 4,775 square feet of living space
• 16,650 square foot lot (75′ X 222′ )
• 75 feet of water frontage with dock
• 5 bedrooms / 4.5 bathrooms
• 2-car garage
• pool
• built in 1935

April’s Third Most Expensive Miami Beach Home Sale

1545 Pennsylvania Ave, Miami Beach, FL 33139

Listed for $2,695,000 and sold for $2,000,000 on April 19th, 2010

Some would question the location of this home, sitting in the center of South Beach, but it is truly a masterpiece.  Why question? because the surroundings are mostly condos with a lot of transient traffic.  But take a look at the architectural details and the use of interior space, which makes this home truly special.  It was listed for $3.595 Million in May of 2008 and reduced a couple of times before going under contract. MLS reads:

This majestic 6 bedroom, 6 bath two-story Mediterranean style home sits in the heart of South Beach. This residence exemplifies a truly special home attributed to its unique architecture and landscaping that sets it apart from neighboring residences. The vaulted ceiling in the living room entices the sunrise each morning. A gated front yard and driveway in addition to an alarm system complete with video surveillance provide security for the home. Also available for rent for $10,000 per month.

Features:

• 3,690 square feet of living space
• 8,000 square foot lot
• built in 1935
• pool
• 6 bedrooms / 6 bathrooms
• alarm system and video surveillance

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

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