$4.5B divorce

For most people, having to give up their favorite table or piece of art in a divorce is rough, but it’s nothing compared to the $4.5 billion that Russian oligarch Dmitry Rybolovlev will have to give to his ex-wife Elena Rybolovleva, who he had been with for twenty-four years. This amounts to half of Rybolovlev’s entire fortune. While it is a substantial amount, he will still be able to live more than just comfortably. This settlement has been in the court system for six years, and it turns out that this is the most expensive divorce in history.

The Bitter Dispute

The multibillionaire was not happy with the divorce or the six years of battle. His ex-wife’s lawyer also asserts that he tried to hide some of his wealth in offshore ventures. Rybolovlev made the bulk of his money through a fertilizer business, and he is the owner of many properties around the world, including some in the United States, and a Greek Island worth $100 million. The two had gone back and forth on the properties and the amount for the settlement since 2008.

During that time, they’d also been fighting over custody of their daughter, who is now 13. The courts decided that in addition to the $4.5 billion, Ms. Rybolovleva would also receive custody of their daughter, and a home they had in Cologny in Geneva. His ex-wife also claims a $50 million ownership of a property he had bought in NYC for his daughter, as well as in Skorpios Island, another property be bought for his daughter. Many will note that the Onassis family once owned the island, and it was the site of the wedding between Jacqueline Kennedy, the former first lady, and Aristotle Onassis.

His ex-wife claims that he was using marital property to buy assets through LLCs and trusts, and was trying to keep certain assets beyond her reach. Some of those assets include a $295 million stake in the Bank of Cypress, a home in Palm Beach, FL worth $95 million and formerly owned by Donald Trump, and majority ownership of French soccer club AS Monaco.

Mr. Rybolovlev has been having private detectives follow his ex-wife around since the split. She was actually questioned by police in February in suspicion of stealing a diamond ring that she borrowed from her daughter and did not return. The ring, it seems, belonged to a trust. She was released without charge, though.

A Deserved Settlement

Elena may well deserve the settlement, though, having put up with, and stayed by the side of, a man with more than just a checkered past. She was with him when he made his wealth, and was even with him when he was in jail after being accused of murdering a competitor. He was unfaithful as well, and she describes parties that he had on his yachts. She could not take being in the relationship any longer, and it is quite easy to see why.


Jade Signature Sunny Isles

Some of the best, most luxurious and most expensive properties in the world are in South Florida, and the market for those high-end homes is hotter than ever. Buyers from all around the world vie for some of these gorgeous properties, and the recent sales at one of those prime properties, Jade Signature (click here to view the site), is a prime example of that.

Easily one of the most popular condominium complexes in the South Florida area, Jade Signature recently did the unthinkable. They were actually able to produce record sales that outmatched all of the other developments – including other quality luxury developments – in the span of a month. What is it that makes this property so special that they could amass $57 million in sales in a single month? Quite a few things, actually.

First, they have a great team of architects that created a truly high quality building. They also have great designers that make sure everything is perfect. When you look at the building and the units, purely from an aesthetic point of view, it’s actually easy to see how they were able to sell 70% of their units in that time. These units are luxury from top to bottom, and the building amenities help to sweeten the deal even more.

What Does the Building Offer?

The final property will feature high ceilings, floor plans that flow throughout the unit, large terraces and balconies, and beautiful oceanfront views that are simply stunning. You are right on the beach too, which is a huge draw for many buyers. While the units are phenomenal and are certainly reason enough to buy, the amenities in the building help to make it an even better purchase.

Located in beautiful Sunny Isles, the building will feature plenty of amenities that residents will love. They will have a two-story lobby with three grand staircases, a spa, several pools, and a beach grill. The building will also have a state of the art home gym so the residents can stay in great shape for when they head out to the beach. It will feature club rooms, a breakfast room, a library, kid’s room and teen room, lounges, a concierge, doorman, valet, and even guest suites.

Who Buys the Units?

Many of the people who are buying units at Jade Signature do not plan to use them as their primary residence. Instead, they are buying second homes, and they live in other areas of the country, or other areas of the world, most of the time. In fact, individuals from sixteen different nationalities have bought here.

Once you start to examine all of the great things that this 192-unit tower has to offer, it really does become much easier to see how Jade Signature became so popular with buyers here and abroad. It offers an experience to live in the lap of luxury right on the beach. The units really are going quickly though, so buyers who want to get in on the action need to act sooner rather than later.

To reserve your condo at Jade Signature please call (305) 336-0457


Chateau Beach Sunny Isles

The real estate market in South Florida continues to boom and grow stronger by the day, and developers are certainly taking note. They are looking for ways to start adding even more amenities and luxury into the new towers that are coming to the area in the coming years. In addition to adding more amenities, they are also working with designs from popular architects as a means to make the properties even more attractive to buyers. This is helping to increase the presale price of many homes in the area. Just last week several such projects have started sales: Armani Casa in Sunny Isles Beach and Fendi Palazzo in Sunny Isles Beach.

The Change in Costs

Those presale properties on the eastern side of the I-95 have a much higher asking price because of these additions. In fact, the minimum is about 102 percent higher than the units that are currently on the market for resale in the same area. This includes homes in the Broward, Miami-Dade, and Palm Beach counties. In early May, research indicated that the presale price of condominium properties in the area was averaging $768 per square foot.

To illustrate this better, let’s break it down into the individual areas. In Miami-Dade, the cost was $856 per square foot for the presale properties. It was $503 in Broward and $555 in Palm Beach. For the resale homes, the average cost was under $385 per square foot. In Miami-Dade, it was about $484, while it was $265 in Broward, and $213 in Palm Beach.

The Market Is Healthy

Currently, a larger number of properties are on presale, or in the planning stages, in South Florida. Nearly half of the 31,000 recently built or proposed homes in the area are on the market for presale currently. Currently, 13,700 pre-2011 condominiums already built and ready for resale are available throughout the region. The approximate number available in Miami-Dade right now is 7,900, while Palm Beach has 2,700 units, and Broward has 3,200. This seems to be a substantial number of homes for sale, and it really is, even though the sales have been brisk.

In the first part of 2014, each month has seen an average of about 1,770 condominiums sold in those areas. This gives the area a little more than seven months of inventory available if the sales continue as they are right now. With a large number of properties available, it becomes something of a buyer’s market, which means it can be possible to get some better deals on some properties.

However, one of the most interesting things that the real estate field will be watching in the coming months is just where the buyers will be putting their money. Do they really want to buy a more expensive luxury condominium that is still in the preconstruction phase, or do they want to buy a property that is for resale right now? Keep in mind that the buyers will tend to get cheaper deals with the resale properties. It depends on how the economy fares, the nature and final cost of those premium properties, and the continued availability of the resale properties.

Click here to see the list of most current pre-construction properties in Miami area


Miami Beach Homes for sale

One of the constants in Miami as well as South Florida is that the quality of the condominiums and other properties that are available never seems to wane. However, this also means that the prices of those homes tend to rise as well. Still, as the price of the properties is rising, the number of sales is starting to slow just slightly. This tends to mean that the buyers have many more choices and they are waiting to see if they can get a better price for properties. It is starting to become a buyer’s market once again, and those who are going to be buying soon should see this as a promising sign. Plenty of homes are available in Broward, Palm Beach, and Miami-Dade counties, and those rising prices might start to slow a bit as the buyers hold off on making actual purchases.

The Numbers

Currently, the median price of a single-family home in the Miami-Dade area is up by about 8%, hitting $243,000. The median condominium price rose by an even higher percentage – 10% in that time, but it did see something of a drop in March of 2014. The sales of single-family homes in the area were up by about 5.6% from the previous year.

These changes mean that it’s becoming less of a seller’s market, as mentioned. The real estate market seems as though it is stabilizing and balancing. The same is happening in Broward County. The inventory is going up and the sales are starting to slow. In Broward, we see that the price for a home went up by 9.2% over the past year, with the median price for a home being $273,000. Condo prices rose by quite a bit more. In fact, they were up by 14.3%.

Why the Rising Price?

What is it that is causing people to raise the price of their homes? A couple of years ago, the price of homes dropped quite a bit because of the crash. Now, the economy and the real estate market are getting better and stronger. Homes have been selling briskly up until recently. This causes many sellers to feel that they can ask more for their property and that they should be able to get it. They feel that their property should get more than a home that recently sold in the area because they think their property is nicer or better.

They don’t take into account all of the other factors, including the market, that will affect the price of their home. Buyers are not biting though. They have a surplus of properties from which they can choose, and they are able to look at other options. They don’t need to spend more than they want to spend because they will find something that they love within their budget relatively soon and they know it.

The prices should start to come down, at least from those sellers who are realistic about their property and what they can reasonably get for it in the current market. Buyers just need to wait and negotiate.

For a complete list of currently available properties for sale in Dade and Broward counties, please VISIT MY WEBSITE


Fort Lauderdale water park

Florida’s a great place to live, but we know just how hot and balmy it can get during the summer, and actually throughout much of the year for that matter. Fortunately, you can find some great ways to keep cool. Some head to the beach, while others seek refuge in air-conditioned homes, bars, shops, and restaurants. Another great way to beat the heat is to visit a water park, and South Florida might just be getting a brand new park that residents and vacationers alike will love.

Big Plans for the Park

Schlitterbahn Waterparks is planning a park that will be two times the size of the already large Rapids Water Park in Riviera Beach. This new park is quite ambitious and has a large number of rides and rivers that connect with one another. What does this mean for visitors? It means that you will hardly ever have to leave the water during your visit. They have quite a few big ideas for the park too, and they want it to be a family friendly place that’s great for adults, as well as young children.

Some of the other things about the park that sound great include the fact that they do not plan to charge fees for the inner tubes or life jackets, they will offer free parking, and you can use the picnic tables. They even let you bring in your own cooler and lunch to the park. Many other theme parks have very strict rules about what you can and cannot bring into the park with you when it comes to food.

However, the park is still a ways off. They feel that the earliest it will probably open is sometime in 2017.

What Will the Park Offer?

Water is the name of the game at the park, but they do plan to offer more than just water rides. They also will have luxury suites around the perimeter of the park. Called “Treehaus”. They will resemble tree houses from the outside, but they will actually have luxurious accommodations on the inside. In fact, the suites will have three bedrooms and a pullout in the living room, which could accommodate twelve people. The cost of renting the suite would be about $1,000 a night during the height of the season. Spread among ten or twelve people though, this is a great deal.

The cost of admission to the park for the day would run about $50. When you compare that to the cost of other theme parks, it’s easy to see that it really is a great deal.

In addition to the water rides and attractions, the park will have shops and dining areas just as any other theme park might have. While it is still a couple of years away, people are increasingly excited about the idea of getting to the park and cooling down. It will be great to help bolster tourism, and it will bring even more jobs to the area. All in all, it’s a great idea for the Fort Lauderdale area.

Click here to view all Fort Lauderdale homes for sale


Miami real estate investment

It seems that Grant Cardone is now getting into the real estate field, and he’s doing so in quite a big way. Over just the past two years, he has already spent $250 million on properties all around Florida. He says that this first push is just the beginning, and hopes that he can invest a billion into the state before the close of the decade. He relocated to Florida from Los Angeles two years ago, which was when he started to buy up the property.

At the rate at which he is going, it seems as though that’s a very sound estimate on his part. Recently, he bought the Wellington Club in Lake Worth. The price paid for the 204-unit property is undisclosed. The Daily Business review says that he is also in the process of buying another property, this one in North Miami. In an interview, he said that there are many reasons to keep buying properties in Florida, so it doesn’t make sense to stop.

It’s true that Florida is a very popular place when it comes to real estate, and there are plenty of opportunities for those who want to invest as big as Cardone is doing. However, it’s also a haven for the smaller investor who might simply want to have one or two condominium units to rent out as an investment, since most people don’t have the capital of Mr. Cardone. Click here to view Miami real estate investment opportunities

So, Who Is Grant Cardone?

For those who don’t know, Grant Cardone is one of those guys who seems to have done it all. He started as an auto salesperson, and grew into someone regarded as a true international sales expert, not to mention a New York Times bestselling author. The five books he has under his belt include The Closers Survival Guide, Sell to Survive, If You’re Not First, You’re Last, Sell or Be Sold, and The 10X Rule.

He is also a television commentator, as well as the host of the radio show The Cardone Zone. He creates sales training programs for Fortune 500 companies, and is the founder of three different companies, including Cardone Real Estate Holdings, Cardone Enterprises, and Cardone Group. He also works as a motivational speaker. Motivated does not even begin to describe him.

Once you start looking into his accomplishments, you can see that his goal of spending a billion investing in Florida by the end of the decade is quite doable. In fact, chances are good that he could do that even before the close of the decade given his current pace. It should be interesting to watch and see what happens over the next few years as he buys, and possibly starts developing, more properties.

Even though most don’t have the money that Cardone has, that shouldn’t stop them from looking at buying in Florida. Individual units can be a great way for someone to start investing right now. Plenty are available, and it is possible to find them at a variety of different price points.


Miami new condos

Some people are starting to worry that we could be facing another real estate bubble in the South Florida area, but many experts feel that these fears are premature. They feel that there is still plenty of room for growth in the counties of Palm Beach, Broward, and Miami-Dade. One of the reasons for the fear is that developers in the area are already proposing a large number of additional condominium units in the area – more than 33,000 of them in fact.
Click Here To View All Pre-Construction Condos In Miami

Where Will the New Units Be?

Currently, the downtown area of Miami looks as though it will be getting approximately 17,400 units across 59 new towers. While this might seem like a substantial amount, it is important to remember that during the last boom, the area became home to 22,200 units with 84 towers. Sunny Isles, another very popular neighborhood in the area, is slated to have 14 new towers and an additional 1,800 units. During the last boom, developers created 6,200 units among 28 towers.

Because of this boom though, people fear that history could repeat itself. After the last boom, they remember the crash of 2007. While it is understandable that people want to be cautious, the world and the economy today are in a different place. It’s not nearly as likely that this type of crash will happen again. Still, caution is always smart no matter the state of the market.

What Makes This Different

Even though there might be a large number of proposed units in the pipeline, there is not the same rush as there was before. The towers and buildings are going up more slowly. Less than twenty-five percent of the proposed units is under construction right now. Many of the others are still waiting for approval. It’s important to remember that these are only proposed units. The ones that are not awaiting approval, having already cleared, will be units that go forward only when the developers can get enough presales to show that there is still an interest in the units in the area, and that they’ve already sold enough to make it viable. This means there will be no vacant towers desperately looking for owners as we’ve seen in the past.

This keeps the progress at a slower pace, which may actually be much better for the overall real estate market. It ensures that the growth does not happen too quickly, so there is far less of a chance of the bursting bubble and crash as there was seven years ago. Despite the skepticism that some have, it’s far too early to know what the market will be like in a few years. As always, buyers and sellers alike need to watch carefully in order to get an idea of where the market will be moving. Still, given the current popularity of the South Florida area from a buyer’s perspective, it does seem as though the market could be looking up for quite some time still.


St. Regis Bal Harbour Miami

Recently, the south tower penthouse, unit 2501, sold for a whopping $22.75 million at St. Regis Bal Harbour. The previous owner was a Delaware corporation owned by Yuriy Kosyuk, a Ukrainian billionaire who made his money in poultry and food products. Strangely enough, the buyer also happens to be a company from Delaware.

What Makes the Unit and Building Special?

The unit is massive, measuring 14,129 square feet. It includes 11 bedrooms and 12.5 bathrooms. It’s also relatively new, since the tower only went up a couple of years ago. Originally, the space was going to be five separate units, but they combined those units into one large penthouse property instead, so it takes up the entire top floor of the building.

One of the best things about this penthouse is that it offers wonderful views of the ocean, the city, and more. It features more than 4,000 square feet of terrace space as well.

As wonderful as the unit is, the building itself is quite special as well. Some of the amenities at the building include a private swimming pool, housekeeping services, a concierge, dry cleaning and laundry, and more. It even offers a gym so residents can stay in shape. They also offer onsite dining. It’s a remarkable place to call home, and it is no wonder that the units in this building tend to sell rather quickly, and for more than many might imagine.

Of course, one of the other reasons to love the building is the location. It is literally right on the beach and offers nearly a thousand feet of beautiful beachfront. The St. Regis Bal Harbour is also close to places such as Miami, Fort Lauderdale, the airport, and a host of attractions.

Why Do People Love Penthouses?

What is it about penthouses that make people love them so much? They are on the top floor, so it means that the views will always be nice, naturally. It is also something of a symbol of being on top in life, not only in the apartment. Penthouses do not come cheaply, as you can see from the price this one sold for, so it serves to show one’s status. It is true luxury living, and that’s just what someone wants when they are in South Florida. Whether they are there on a vacation in their second home, or they are using the property as their primary home, penthouses are ideal.
CLICK HERE TO VIEW ALL MIAMI PENTHOUSES FOR SALE

In addition, some people want and need to have more space. Many of the penthouse units also have more features and amenities, such as private elevators. These additional features help to make the idea of a penthouse even more attractive for those who can afford it, and they are even better in South Florida because of the great location.

Of course, you have to keep in mind that penthouses are rare. Towers generally only have one or a couple at most. This is something else that contributes to their greater cost.


Miami real estate

The price of homes located in the Miami Beach area is on the rise according to data recorded by Standard and Poor’s/Case-Shiller between March 2013 and March 2014. They showed that the prices for homes in Miami-Dade, Broward, and Palm Beach counties showed an increase of 1.6 percent between February and March during the usual seasonal adjustment. They also showed that the price of homes across the nation took a jump of about 10.3 percent over the course of the year. In South Florida, the price rose by about 16.2% in that time.

What Could the Numbers Mean?

This shows us several things. First, it shows that interest in the properties in the area is at an all time high and that the interest is still growing. It also shows that, even though the prices are rising, people are still willing to buy for several reasons. The location is great. They will be near the things they want to see and do, making it perfect for a fulltime home, a vacation home, or even an investment property.

Of course, a good location close to the water also helps when reselling, and smart buyers know that. Waterfront properties, for example, tend to gain quite a bit of interest from buyers, so being in a beach area is always a good thing for buyers.

One of the other nice things to note is that it is currently a buyer’s market in South Florida. Even though the prices of the homes are rising, and it is a good idea to act fast when you see a property that you life, there are plenty of options out there. This means that the price of the homes will still need to stay in line with what the market will bear.

South Florida Active Listings on the Rise

Listings come onto the market all the time, so buyers will always have new properties coming onto their radar. The South Florida housing inventory rose to 41,712 active listings in late may. Sales dropped just slightly from 22,000 to 22,157 over the last week, and the number of pending sales dropped by approximately 375 over the course of the month.

As you can see, there does not seem to be a shortage of properties available for those who want to buy in the South Florida area. When choosing property though, it is important to look at everything that you can in regards to the location, amenities, and features. Having a property right at the beach is a great thing, and many condominium complexes in the area have places available for buyers right now. However, buyers also need to consider the quality of the place, the size, and the price to make sure it really is a good investment. Working with a good real estate agent who has experience in the area is the best way to make sure that you are getting access to the best possible properties.

Visit the website to view all available homes for sale in Miami Beach


Miami Beach real estate

When many people think about residential real estate in Miami Beach, they immediately start thinking about all of the residential properties and condominiums that are available right on the beach. However, as plentiful as they are, residential real estate is certainly not the only game in town. Commercial property is also a big seller, as is demonstrated by two recent sales that brought in a large amount of money.

South Beach Gallery/Home of Romero Britto

Brazilian artist Romero Britto recently sold his home, which also serves as his gallery and showroom called Britto Central. The building, located at 818 Lincoln Road, has been a fixture of the area since 1935. The last time this property sold, which was in 1993, it went for $335,000. The sale price this time was $34.5 million.

The buyer was a company based in Montreal called 818 Lincoln Investments. The manager of the buying company was Danny Lavy, who also happens to be the CEO of Elite Group Inc., a company that distributes household products.

Another Lincoln Road Building Brings in the Big Bucks

Just one week after the sale of the gallery, another retail building in the area, just a short distance from Britto’s gallery, sold for, again, $34.5 million. In this deal, JSRE Acquisitions bought the 716-720 Lincoln Road property. This building was bought by a company called 718 Lincoln Owner, and there was no financing recorded.

The seller was Investment Group of Miami, who had actually owned this 7,500 square-foot property in South Beach for twenty-one years before making the sale. This building is nearly as old as the gallery, having been constructed in 1936. It is just between Forever 21 and H&M. Currently, the company that leases the property, RFK, says that the two businesses occupying the spaces in the building are Cache and American Apparel.

What Will Happen at These Sites?

It does seem quite strange that within a week of one another, two properties very close to one another would sell for the exact same price. While there is the possibility of a connection, very little is actually known at this time, and it could merely be a coincidence.

Of course, there is also the possibility that a large company, or conglomeration, could be buying up land and properties in the area as a means to begin planning a future development. Again, it’s too early to tell exactly what will happen at these sites. They could continue in their current capacity with absolutely no changes whatsoever.

Still, it should be quite interesting to watch and see what does happen, and to keep an eye on the area to see if there might be any more of these big dollar sales in the coming weeks and months. After all, it is important to keep this area of Miami Beach in mind. It has a great location that is quite popular with developers, and there is every chance that we could be seeing the very beginnings of one or more new developments.


Content published by Lana Bell

Content published by Lana Bell