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Miami Beach Luxury Real Estate - Capri, South Beach

Ines Hegedus-Garcia
ines@miamism.com

Capri South Beach - Miami Beach Luxury Condos

When in comes to Miami Beach Luxury Condos, what hits me first is the density of the buildings. High rises have a really high density and that means more traffic and more neighbors. It's very personal, but I like the lower density buildings better and that's why I like Surfside Beachfront condos so much with a maximum of 12 stories stipulated by zoning ordinances.

The Capri South Beach really impressed me because of its scale and density - it's comprised of 3 different buildings - a 3-story historic mid-century modern structure and 2 modernist structures (one is 14 stories and the other is 7). All of them on the water with amazing bay views and sharing common areas and amenities:

  • signature restaurant and room service
  • 24-hour international concierge service
  • 24-hour valet service
  • 24-hour on-site security service
  • housekeeping services
  • laundry and dry cleaning services
  • on-site private marina and boat slips
  • 500 feet of bay front boardwalk
  • fitness center with personal trainers
  • spa-suite with steam, sauna, massage and meditation room
  • swim-spa pool and oversized Jacuzzi overlooking the bay
  • full time pool attendant.

Designed by Kobi Karp Architecture and Interior Design and Rene Gonzalez Architect - The Capri's attention to detail and distribution of space is fabulous with bay views framed from every room, Pent Houses have open roof-top terraces accessed by spiral staircases with views of South Beach and complete with summer kitchens and Jacuzzis. Each residence designed with a contemporary luxury lifestyle in mind with European kitchen with Poggenpohl cabinetry, Miele, Wolf and Subzero appliances, white Thassos and Travertine marble bathrooms, over-sized soaking tub, glass-enclosed double rain shower. Floors are finished with 24"X24" travertine. Bedrooms have built-in European closet systems.

Capri South Beach - Miami Beach Luxury Condos

Set on nearly two acres of prime waterfront real estate, Capri South Beach encompasses two modernist structures and one mid century historic building housing sixty-nine residences, each designed down to the smallest detail. Royal palms tower over manicured landscapes, offering you a private oasis in which to relax and enjoy the splendor of Miami Beach. Living in this tranquil sanctuary means having the best of both worlds - the drama of living in a global epicenter, with a private world of exclusive luxury in which to escape.

The westward orientation of the residences at Capri South Beach offer unobstructed views of Downtown Miami and Biscayne Bay. One could hardly ask for a better vision of the Magic City.

capri south beach - miami beach luxury real estate

As much as I was impressed with the scale, finishes and distribution of this project, I still think it's overpriced. The maintenance fees will be approximately .95 cents per square foot and the sales representative said on repeated occasions that the prices were "negotiable" (with a hush tone) - mmmm ... What isn't negotiable in today's Miami Beach Real Estate Market? We were also told that a 3 bedroom unit recently sold with a 20% discount.

  • 2/2 residences start at $1,155,000 with 1,128 square feet
  • 3/3 residences start at $1,915,000 with 1,842 square feet
  • 1/1.5 residences starting at $525,000 with 783 square feet
  • North Tower - Marina Piccola townhouse for $1,545,000
  • South Tower - Ana Capri third and 4th floor units starting at $2,275,000

There are also boat slips available to accommodate up to 78 foot vessels providing a safe haven for the pickiest of boaters.

South Beach's international reputation as a center of art, entertainment and natural beauty is not small wonder, and residing at Capri South Beach puts it all at your fingertips. Fine boutique shops and restaurants along Lincoln Road are within walking distance. The Art Deco Historic District, Ocean Drive, and world-renowned beaches are all minutes away, with the Miami International Airport a mere 15-minute drive. Across the bay, the spectacular Performing Arts Center in Downtown Miami offers opera, ballet and other performance arts, while a plethora of nearby art galleries, design boutiques and restaurants are helping to define the burgeoning Biscayne Corridor as Miami's answer to Soho. Whether you want a private haven away from the world or a night out on the town, you can have it all at Capri South Beach.

Remember our team is ready to help you with your Capri Condo Purchase or sale and of course surrounding condos as well. Call us for details 305.758.2323 or capri@miamism.com

Condo Name:  Capri Condo
Architecture:  Kobi Karp Architecture and Rene Gonzalez Architect
Neighborhood:  West Av area of South Beach
Location:  1491 Lincoln Te and 1445 16 St - Miami Beach
Contact:  capri@miamism.com


Len Elder 13th January, 2009

Inez,

I really enjoyed your blog presentation at NAR in Orlando. Thanks for all of the great insight and information. Hope that your holidays have been good ones. Attached is my New Years wish for you. It intentionally does not have my name or company attached. Feel free to pass the message along. Len

http://www.youtube.com/watch?v=y_eh95Tht0k

Ines Hegedus-Garcia 13th January, 2009

Len, thank you so much for for your New Year's wish - I wish you much success as well and thank you so much for the compliments.

Ines Hegedus-Garcia 21st January, 2010

David, I think the word "negotiable" is extremely subjective and normally means that there is some room for play. Most buyers interpret "negotiable" to mean a lot more than that and that's where mis-communication begins. I don't expect the Capri to ever drop at $500/sq.ft. prices, but there are other buildings where you can get in at that price (not many in South Beach).
Let me know how I can help.

david 21st January, 2010

Interesting comments, we toured the Capri in July, 2009 and the sales rep also said "prices are negotiable" but we still choked at $1000/sq ft. We noted a 15% price drop over the past few months but still rather pricey. BTW-we would be buyers at $500/sq ft.

Ines Hegedus-Garcia 14th June, 2010

David, depends on location, type of unit and floor. Working with an agent would be beneficial to you in order to run comps and make proper recommendations.

david 14th June, 2010

Ines-
This is a follow-up to my previous posts. Been in "lurk mode" the past months but wanted your thoughts now that Capri SoBe "right-sized" $436 /sq ft (bulk buyer). Where to you think the propery is valued now? David

Ines Hegedus-Garcia 14th June, 2010

Lurk mode is never bad David :)
Define "Bulk", are you buying remaining inventory? If that's the case, you could certainly negotiate. I've found that in the past few months, developers are anxious to let go of remaining inventory, even if it means going below their original goals. Always keep in mind that Capri is a unique property because of density and location.
(thanks for coming back)

david 14th June, 2010

Actually, now that the "bulk buyer" has the inventory, and the developed ate the "neutron bomb" (def: developer is killed; the building survives) where should my offer be on a unit? Par? 10% uplift?

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