One Thousand Museum Miami

Things have really been starting to change in Miami real estate (see website) over the course of the past few years. Miami is getting to be one of the most popular destinations for homebuyers from around the world, and many of those buyers love the variety and quality of homes available in the area right now. Richard Meier, renowned architect, recently bought an apartment in a building he designed. Though he’s based in New York, the apartment he bought was at the Surf Club Four Seasons in Miami. Many in NYC are following suit. Not only are they buying properties, but it seems as though they are bringing some of those NYC prices along with them.

How High Are the Prices?

Over the course of the past year and a half, there has been an overall increase in prices by about 11.5% for homes that are on the beachfront. The current average price per square foot for these condos is $1,011. Something else that has been helping the prices to go up is that the number of units for sale is down. In fact, it’s down by nearly 64%. A number of penthouses, which go for much steeper prices, are also for sale now, which makes the overall price seem higher for area units.

Some of the high-priced units are going for between $3,000 and $4,000 per square foot. While this might seem high to many who are buying in Florida, it’s actually par for the course when it comes to New York City. Given this fact, the homes in Florida actually seem like quite a value to those who have homes or who have been thinking about buying in NYC. They are buying up vacation properties, investment properties, and permanent residences quickly.

Miami Is the Place to Be

Miami and much of Florida once had the reputation for being the haven of retirees and grandparents. While it’s still a popular location for this, there’s certainly a much younger and hipper element in the area today. It’s a hot place for the art and food scenes, and there’s a thriving nightlife in downtown Miami. Many buyers see Miami as the best place to be and to buy right now, and they may be right.

Can the Market Sustain Higher Prices?

The prices are rising, but that is making many in the real estate business wonder just how good of a thing this is. They wonder if there will be a market correction in the near future. The real estate companies in the area remember well the affect the recession had on the area, and they do not want a repeat of the disaster. With the new towers on the horizon, and new properties entering the market in the coming years they wonder if these increased prices will stay or not. Many others feel there are enough safeguards in place that even if there is a slowdown in the field, it will not result in a repeat of the catastrophe from a few years ago.

Miami waterfront homes

Miami is a popular location for home buyers of all stripes, whether they are northerners who want to find a warm and fun getaway for the winter months or they are some of the biggest stars on the planet. Many of those celebs are buying and selling homes in the Miami region – View All Miami Waterfront homes for sale here.

Celebrity Real Estate Deals in South Florida

Singer Shakira who owns a home at 3140 North Bay Road is currently in the market to sell her home. Although the home does not have a current listing, brokers in the area are aware that it is actually for sale, and the current going price, according to those in the know, is $15 million.

Rumor has it that David Beckham is looking at properties in the area as well. As many people know, he wants to start a MLS team in Miami, and it’s natural that he would be looking for a place to call home for him and his family. Latest reports say that he’s been looking at a Key Biscayne home going for $13.9 million. The 755 South Mashta Drive home is on a private, gated road, and it offers 13,898 square feet of space. It’s also right along the ocean.

Oscar winning actor Matt Damon listed his home, at 6020 North Bay Road last year. The list price for the home was $19 million. It features ten bathrooms and seven bedrooms and is currently under contract.

Producer and actress Poonam Khubani recently bought two units in the new Miami Beach EDITION. The hotel offers 26 unique residences, and she’s now the proud owner of two of these luxury units. Khubani is also vice president of the company Telebrands, known for their As Seen on TV products. Her husband A.J. is the president of the company.

Why Do Celebrities Love Miami?

These latest movements in the real estate market in the Miami region highlight just a small number of the celebrities who have homes in the area and those who are looking for properties to buy. Miami has been a very popular location with celebrities for a number of years now, and there are quite a few good reasons for this. Miami is a fun place, a good place to spend a few months or an entire lifetime. Celebrities enjoy the area for most of the same reasons that everyone else loves Miami and the South Florida area.

One of the reasons they are looking to purchase in the area is that they are able to get quite a bit more for their money when compared with places like New York or Los Angeles. It’s a beautiful location and the beach is never far away. The city is home to many hot clubs and restaurants, and celebrities are finding that many of their friends and peers have homes there already. They like being around other celebrities, and they often find that they can live in a bit more anonymity than they can in other areas.

Ritz Carlton Sunny Isles

Sunny Isles Beach is known for high quality luxury properties of all types, with some of the biggest and most impressive towers being Residences by Armani/Casa and Porsche Design Tower. Now, another luxury tower will call the area home – Ritz-Carlton Residences (Click Here to view Ritz Carlton Sunny Isles project). This is already causing some excitement among investors and homebuyers.

What Makes the Tower Special?

The project is a joint venture with Chateau Group and Fortune International Group, and the preconstruction phase is already underway. The proposed tower, which will be at 15701 Collins Avenue, will be 52 stories and right on the oceanfront. The goal is to create a beautiful condominium complex that has all of the services of a luxury hotel and resort to make the lives of the residents easier.

One of the things that help to give the tower more personality and to gain some traction in the area is the brand name that comes along with it. Ritz-Carlton is a quality brand name that provides buyers the services that they want. Most buyers want more than just a great unit. They also want excellent features and services, onsite food and beverages, a spa, and more. That’s just the sort of thing that the Ritz-Carlton Residences will be able to offer.

Those who are interested in buying a unit will follow the same type of buyer-deposit model that’s in use with so many of the other large properties in the Miami-Dade area. The buyers will need to put down a 25% deposit on the property, and then an additional 15% when the groundbreaking occurs. Several months later, they will need to add an additional 10% to the deposit. They will pay the remaining 50% at the time of closing.

The firm Arquitectonica, based out of Miami, is the designer for the property. The actual designer will be Michele Bonan from Florence, Italy. To get an idea of the style and quality, look at some of the other properties developed by Bonan – Cipriani and Casa Tua.

The tower will sit on 2.2 acres, and it will include 250 feet of beachfront property. Since so many who are buying in the Miami area will want to be right on the beach, this should be a huge selling point. Prices for the units vary considerably, with most ranging from $2 million to $5.2 million. Of course, the penthouses cost substantially more and will sell in the $25 million range.

This is the first joint project between the two developers working on the tower. However, they have worked together in other capacities in the past. They feel that by working together now, they will be able to create a truly remarkable condo tower that is able to offer something different and something more than all of the other towers in the area. They want to provide their residents with the best possible service and features, knowing that it will help to improve their overall sales. Already, many potential buyers are feeling the excitement that these new units can offer. The Ritz-Carlton Residences could become one of the hottest properties in the area.

Miami real estate for sale

Several years ago, when the United States was in the grips of the Great Recession, things were looking rather bleak for a large number of people at every economic level. People were losing jobs and finding it difficult to get more work. The financial bubble the country lived in burst and the economy, the stock market, and the real estate market fell quickly and deeply. They fell to a level that made it seem almost impossible to recover fully. It was a very frightening time for a number of people in the country. They lost homes, marriages, and their livelihood. It was the biggest financial fall the nation had suffered in many decades.

Now, years later, things are really turning around in a good way. Most of the experts agree that the United States is seeing a large surge when it comes to recovering. The Federal Reserve even certified that the economy is stable. President Obama points to a drop in the deficit as well as a massive boom in the energy output of the United States. These things are helping the country get stable footing in the world economy. More people are going to work, businesses are growing, and things are looking good for every sector of the country.

The unemployment rate in October of 2014 was 5.8%. This is the lowest it’s actually been since July of 2008. The forecast for growth in the U.S. economy is 3.1% in 2015. This is far higher than the expected growth in other countries around the world, and that should be very exciting for people in the U.S. It means that things really are turning around for the better. They even closed down the stimulus program, feeling it is no longer necessary as a means to beef up the economy.

Another area that’s been providing some relief to the wallets of people across the country is gas. The price of gas is lower than it has been in years, and saving at the pump means more savings in the bank, or more money to put back into other areas of the economy.

Miami Real Estate Market Improves

One of the areas hit the hardest was the real estate market. People could no longer afford their home, and they were losing property and going bankrupt. It was difficult to sell properties at all, and the number of homes that were on the market vastly surpassed the number of buyers. This drove the price of homes down, but even then, it was difficult for most people to even contemplate buying a property at that time. However, the improved economy means that more people today have the means and the savings to buy a nice home. It’s easier for them to get loans, and they and the banks are smarter this time around. They will not get into loans that could turn around and bite them in a couple of years. Miami real estate market is doing phenomenal, especially the luxury segment. The prices have gone up over 20% during 2014 and there is no slowdown anywhere on the horizon. It is predicted to rise even more in 2015.

Miami Beach condos for sale

Famed Bollywood actress and producer Poonam Khubani, best known for Aryan: Unbreakable and Star of Jaipur, as well as being vice president of Telebrands, seems to love Miami Beach. (See Condos For Sale on Miami Beach) She recently purchased a second unit, number 1602, at the beautiful Miami Beach EDITION. Khubani paid $17.5 million for first unit she bought, number 1601, and $16.5 million for this latest unit. Because the two units are next to one another, most are speculating that they will actually combine them into one massive unit. However, the actual plans are still unknown.

Poonam Khubani is one of the most successful women in the world, and was actually named as on the list of Top 25 Leading Women Entrepreneurs of New Jersey thanks to her business savvy and success across a number of fields. While she is a popular actress and producer, much of the money and success comes from Telebrands, the company she owns and runs with her husband, A.J. Khubani. Telebrands is the “As Seen on TV” company that’s behind many of those infomercials that air for a range of different products, such as Flip Jack Pan and PedEgg.

What Makes the EDITION Popular With the Rich and Famous?

Why would someone with the wealth and power of Khubani want to live at the residences at the Miami Beach EDITION? The reason is simple. All of the units exude true elegance, and it is the epitome of living in luxury. Buyers can choose from penthouses, two-bedroom duplexes, three-bedroom duplexes, triplexes, and one-bedroom residences. The building features only 26 units though. This means that those who are fortunate enough to get into the property will actually have more privacy than they might find at some of the other buildings in the Miami Beach area.

The staff at the building can offer a range of different services as well, including housekeeping, room service, concierge service, and even taking care of daily tasks such as shopping for groceries. Residents will have all of their needs attended to at the EDITION.

The residents will have access to the features and amenities at the hotel, round the clock security, access to the business center and meeting rooms, access to the restaurant and bars at the hotel, the fitness center, massage and spa services and much more to help make the lives of the residences more enjoyable.

All of the units at the EDITION are designed by John Pawson, one of the most famous architects in the world. Each of the units is unique. They have large living areas and floor to ceiling windows. They offer large balconies and terraces, as well as the best appliances, cabinetry, counters, flooring and features that money can buy.

With all of the features and amenities at the building, it’s easy to see why someone with the status of Khubani would want to own property there. It has a fantastic location, the space and the amenities that she and her husband need, and it really does act as something of a status symbol as well.

Golden Beach Homes, FL

When you look at the building that now sits at 219 Ocean Boulevard, Golden Beach, Fl, (CLICK HERE to see all homes for sale on Golden Beach) it’s hard to imagine that the spot was once the location of Franklin Delano Roosevelt’s “Winter Whitehouse”. The home that’s on the property now is ultramodern in every sense of the word. The original home on the property has not actually been there for twenty years though. In 1994, famed architect from New York, Carlos Zapata, designed a brand new property for the spot. The beautiful home has a unique style and modern angles. It sits right along the waterfront and measures 8,000 square feet.

The property features five bedrooms and seven bathrooms, but that’s just the start of what it offers. The news release that accompanied the sale went on to say that the property also offers a theater, a full gym, and a private beach. The new owners will enjoy the infinity pool, and they can have friends visit and stay in the large two-story guesthouse.

Modern Architecture Is Moving Fast

Modern homes in South Florida have been doing extremely well in the past several years or so. The popularity of modern homes, extends from the domestic buyers to the international buyers. While Florida has a place in its heart for historical homes and sites, these have not been moving in the market quite as quickly. People want modern, they want new, and they want something that’s different from what everyone else owns.

While some worried that demolishing the old FDR home in 1994 was a bad idea, it did not have enough recognition to offer real value to the property at the time. This meant that having a brand new design that was right for the buyer at the time was necessary, and that’s when they brought in Carlos Zapata for the job.

Who Is Carlos Zapata?

One of the names that you will often hear when it comes to architecture is Carlos Zapata, and with good reason. He’s one of the most respected and renowned architects in the world today. Some of the most impressive buildings and structures he’s been involved with include Soldier Field, Cooper Square Hotel, Miami Airport Concourse J, and Quito House. Current projects include JW Marriott Hotel and Iceland Harbour Hotel. The award-winning architect has a fantastic reputation, and owning a home he had a hand in designing is a real honor. Not only will the owners appreciate that his name is attached to the property – which can boost the value – but also, they can be sure they are getting something wholly original.

One of the things that people love about his work is that everything is different. There’s a unique and beautiful style to his work, and those who own a property he designs know they are getting a property that’s truly different and special. This is certainly the case with the beautiful home that’s sitting on the former FDR lot currently.

If you’re looking for a home on Golden Beach please contact our office at (305) 336-0457.

Oceana Bal Harbour Condo

Art and artistic expression are extremely important to the people of Miami, and the scene in the city is expanding rapidly. In fact, art is such an important part of the city that it is bleeding its way into some of the real estate offerings that are available. The developers for some of the luxury buildings are actually talking with some of the best artists to provide artwork for the buildings, merging their art with the design of the building. This benefits the developers and architects as well as the artists. The developers will have a property that is entirely unique and that hits all the right spots for art lovers, no matter how casual they might be. It gives the artists more work and more exposure, which is always nice.

New Pre-Construction Condos Require Style

With all of the new towers going up in the Miami region, it becomes essential that they have a number of things to differentiate them from one another. The exterior design of the building is one way that they are doing this. Having high quality and unique art can affect the outcome of the project, as well as the way people feel about the property.

Faena House, developed by Alan Faena, will house the Faena Bazaar and an artist-in-residence center by Rem Koolhaas and OMA. Oceana Bal Harbour (see site here) will feature two larger-than-life works by Jeff Koons—Pluto and Proserpina and Ballerina, purchased in 2013 for $14 million—both of which will be shared and owned by building tenants. 250 Wynwood—an 11-unit condo developed by Fortis, will feature terrace overhangs decorated with curated graffiti. Not far away, the Filling Station Lofts in Wynwood has enlisted local artist Daniel Fila to create unique works of art for each individual floor, as well as to consult on the building’s aesthetics.

In Sunny Isles Beach, Property Markets Group’s Muse Residences, 47 stories with 68 units, will deliver a custom $200,000 piece of art by Helidon Xhixha, created after consultation with the owner, into every $4 million-and-up unit. CMC Group is developing Brickell Flatiron on a wedge-shaped site at the convergence of South Miami Avenue and Southeast First Avenue. Besides its shape, the Brickell Flatiron building’s single most distinctive feature is an extensive and very public collaboration with the artist Julian Schnabel.

Some developers even have exhibitions for the artists in the buildings as a means to get the residents and the public more involved in the art scene. The museum quality pieces really do add to the sense of style for these properties. Of course, it is important to note that they also add to the price, and the value. Some of the art installations are costly, and this cost has to transfer to the owners. However, it is important for those buyers to remember that the art on the property is also helping to increase the overall value of the property.

In most parts of the country, being an art aficionado and buying real estate have little to do with one another. However, in Miami, they go hand in hand. Those who are looking for something that’s truly unique and one of a kind will see that these buildings are able to offer that quite easily. Buyers can explore a world of art when they are looking for a new home, which can make the buying process more interesting. It is good for the city and the residents to have an influx of new and interesting art, and it helps to develop and strengthen the community.

I’m kicking off 2015 with a year-end review of our strong sales activity in 2014. I am very proud to announce that I’m the #1 agent in Miami-Dade and Broward counties combined for luxury condo sales, out of 47,792 agent. This is a monumental achievement for me personally and my professional carrier as a Miami real estate agent. This became a reality only after I joined One Sotheby’s International Realty, the fastest growing Miami luxury real estate company. (CLICK HERE to check out my new Public Relations page).

In 2014 I’ve sold over 60 luxury condominiums at a total value of over $100,000,000 – hundred million dollars. I’d like to thank all my clients for believing in me and for referring your friends and relatives. I’m thrilled to report my success and I’m very motivated to continue strong performance in the New Year. Buying or selling, I will make it happen! Please contact me for a free confidential consultation.

On the same note, 2014 year-end data shows that Miami home prices ranked 1st in annual increase out of 20 major U.S. cities. Home prices in the metro area averaged a 9.5% rise from the prior year – the highest increase since 2008. If you’re interested in finding out what your property is worth, please contact me and I will prepare a market analysis report for your property.

Miami real estate

Recently, President Barack Obama chose to rework the immigration system, and his plan has the potential to do some great things for real estate sales in the Miami area, at least according to some specialists. Helena Tetzeli, a corporate immigration attorney, says that President Obama wants to improve the current immigration programs so that they can help to improve investment and entrepreneurship among immigrants coming into the United States. It has the potential to expand the EB-5 Visa for immigrant investors, which allows foreign individuals to invest a million or more, or half a million if in a targeted employment area, so long as it creates or keeps at least ten jobs in the United States.

Real estate projects would certainly fall under this category for the EB-5 visa. It may also be possible to create other similar programs that could help to encourage immigration to the United States for investors who have an interest in real estate. Many developers in the region are already using the EB-5 visa as a means to help fund development in both the commercial and the residential areas.

Who Might Immigrate and Invest?

It seems as though much of the world has a focus on the Miami area when it comes to development and investment. European investors, as well as those from South America and China are looking for many different types of investments. Some want to work with developers, while others are simply looking to buy an investment property or two. By bringing more foreign investment to the area, it is better for the overall economy. Some developers have already been benefiting. Tibor Hollo, is a good example. The construction cost for the property is more than $800 million, but with the help of foreign investment, they are able to meet that number.

Each year, the country has a cap on the number of EB-5 visas it allows. This number is 10,000. Interestingly, in 2014, the country reached the cap easily, and many of the visas were for Chinese investors. This shows that there is a rather large interest in developing and investing in the country. Some of the other investors that love investing in the Miami area include those from Brazil, Argentina, and other countries in South America. Since the country met their visa cap though, it means that some of those other foreign developers may not have been able to make the investments they wanted.

More Changes Could Be on the Horizon

The new changes that are coming to immigration in the coming months and year could well add more avenues and options for investors who want to put money into development contracts. This should help to make it easier for all the out of country investors who want to work in South Florida and who were unable to do so because of the visa cap.

Miami and the surrounding area have a lot to gain from all of this foreign investment, and it will be exciting to watch how it all unfolds.

Miami real estate

One of the hottest types of sales to happen in the Miami real estate (view homepage website) industry over the past year have actually been for air rights, which might seem somewhat strange to some. Air rights are the rights to the air space above one and two story buildings. What does this really mean though? Often, people call air rights the “transfer of developmental rights”, as this is what it really means. A person or company that owns a short building can sell the square footage above the property to a developer who wants to create a high rise building.

While this type of sale has been growing in frequency and popularity in the past year, it’s been around for some time. One of the areas famous for this is Sunny Isles Beach (view high-rise condos for sale here), which has countless high-rise properties on Collins Avenue. They have also been popular in places with limited space, where the only way to build is up, such as NYC. The system set up in Miami works well for the buyers as well as for the sellers.

How Do Air Rights Work?

Miami 21 Zoning Code says that “qualifying sellers are those who own building in Miami designated as historic or that are within a historic district.” The revenue from the sale of the air rights then needs to go into renovating and maintaining the “historic character” of the building. This helps to ensure that some of the older buildings with a bit of history behind them will get fair treatment rather than just being bought up and demolished. It helps to preserve the history and the flavor of the area. Ultimately, it adds more character, and it still allows the developers to build the luxury high-rise properties that are so popular today.

Developers in the area know that the total square footage and not merely the base square footage is the important number to consider. They can buy up the air rights and then build upward, just as they might do on a piece of land that did not already have a building on it. This gives them greater development potential, and a greater chance of earning more, naturally.

The price per square foot varies depending on just where in the city the developer is considering buying. Some areas with space that are more popular and in demand will have higher prices. The city sells air rights to some of their buildings, and these tend to be higher than what private sellers are offering. In order for a private seller to get developers interested, they will need to come down from the city’s asking price, which is typically around $15 to $16 per square foot.

With the amount of interest that people have in living in the Miami area, there’s still a need for more developments. This will grow even more in the coming years. Many traditional building projects are underway now, but selling air rights to developers will help them to meet the growing need of a city that’s poised to become even larger and more populous.

Content published by Lana Bell

Content published by Lana Bell