Consider the Privacy and Luxury Offered at Regalia

By Sunny Isles Real Estate Expert on April 28th, 2016

Regalia Condo

Do you love the idea of living in an area such as Sunny Isles Beach? It is close to the heart of Miami and all of the fun, entertainment, and business opportunities the city offers. It is right on the water, and it could make an ideal location for you to settle down or to have a vacation home. However, you might be worried that because the area is so popular you will have trouble having any semblance of privacy. In some towers that might be true, but you will not find that problem with Regalia. This tower features only 39 residences – one on each of the floors.

The Regalia Tower Offers Plenty

When you buy a residence at Regalia – (see all available listings), you will be the sole occupant on the floor, so you never have to worry about your privacy. This also means the units are very large and will be capable of accommodating even large families. The overall livable space is 7600 square feet. 5515 of the feet are indoors, while there are 2100 feet of outdoor living space thanks to the gorgeous balconies. You can choose from four or five bedrooms. Of course, you don’t have to use all of those rooms as bedrooms. You could also use one as an entertainment room and one as a den, for example.

On the ground floors are the lobby and the parking facility. The second floor is where you will find the pool deck and the other amenities offered by the building. All of the common areas are beautifully decorated with marble and wood. The building has a high-tech automated security system, and there are attendants on duty 24hrs a day to help you if needed.

The building is located right on the water and you will be only steps from the beach. Those who want to keep in great shape will certainly want to spend some time at the fitness facility, which offers state of the art equipment, as well as sauna and treatment rooms. You can talk with the concierge to find more information about the services in the building to take full advantage of everything it offers.

Residences at Regalia

As mentioned, the residences in the tower are very large. They could be a nice option for those who have a large family, or for those who simply want to have more space and privacy. The units have floor-to-ceiling windows, beautiful cabinets and flooring, as well as Italian cabinetry, designer lighting, a separate service and utility room, and 10’ high ceiling.

The wraparound terraces are massive and provide you with thousands more square feet of living space. You can enjoy spending time out on the terrace whether you are entertaining or you just want to take in the impressive views on your own.

There are many things to love about Regalia, and there is no reason to wonder just why this tower is as popular as it is with buyers. The size, privacy, and the amenities make it special.

One Sotheby’s International Realty Sunny Isles Beach office specializes in sales of luxury condos such as Regalia. Please stop by or call our office at (305) 336-0457


Real Estate Investments Increasing for Kazakhstan

By Sunny Isles Real Estate Expert on April 26th, 2016

Sunny Isles Condos for sale

Kazakhstan, which is an oil-rich country located in Central Asia, is searching for a way to increase returns on a possible $93 billion from wealth funds. As a result, some of the biggest private equity players in real estate may be the beneficiaries. The problem for this country in regards to investing and actually making money is an issue with the oil prices continuing to fall.

Nursultan Nazarbayev, the president of Kazakhstan recently hosted a dinner in September at the New York based Four Seasons Hotel. This was attended by a number of big names, including Henry Kravis, the founder of KKR & Co., Stephen Schwarzman the chair of the Blackstone Group and David Rubenstein, the co-founder or the Carlyle Group.

Creating Investment Opportunities

The idea was for Nazarbayev to create interest in various investment opportunities that were present in his country; however, Kazakhstan also has plans to increase their own investments in regards to real estate, hedge funds and private equity in order to boost their returns.

The $64 billion National Fund in Kazakhstan has begun to struggle in regards to achieving a return of two percent each year for the previous five years. This country is the largest exporter of energy in Central Asia and now searching for real estate, as well as other types of alternative investments, as the price of oil is close to an 11 year low and the returns that are received from commodities have fallen to levels that have not been seen since 1999.

Finding a Worthwhile Return

According to the CEO of the National Investment Corp. in Kazakhstan, Berik Otemurat, the country is essentially sitting on a large amount of cash, but not able to see any type of significant return. It is especially important to address this issue because of the less than optimistic outlook for the price of oil and the reduced amount of inflow to the National Fund.

Real estate is considered extremely attractive for sovereign wealth funds. This is because last year, they returned an average of 14.1 percent, which was close to double of their 7.4 percent target. For example, Arabian Gulf funds are changing investments because of their financial services and moving into retail and hotels. Taking time to realize this allowed the Kazakhstan government to find better ways to invest their money and see it grow. Many investors from Kazakhstan are buying Sunny Isles condos While the government is still working to make deals with worldwide real estate moguls, it is an effort that is likely going to pay off in the near future.

Through December 7, sovereign investors were considered a net buyer of over $36 billion in total real estate around the globe. This shows the active moves that these countries’ are making, not just Kazakhstan; however, this is a country that is considered up and coming in this industry to attempt and make their wealth grow and increase the value of the investments that they make. While they have oil commodities to fall back on, real estate offers them a stable option for growing wealth.


What Does Acqualina Offer?

By Sunny Isles Real Estate Expert on April 24th, 2016

Acqualina Sunny Isles

Sunny Isles Beach is one of the most popular locations in the Miami area for those who are searching for permanent residences, as well as those who are looking for vacation homes. There are a number of beautiful condo buildings in the area, and one of the most popular is Acqualina – see website here. This is a 51-story tower, which means that many of the residences have fantastic views of the coastline and the ocean beyond. Those who have been searching for a unit with a view can find some great options here. However, the building has far more to offer than just the view.

Building Amenities at Acqualina

Those who choose to live at this building will find a wealth of amenities and features right at their fingertips. You will have access to the Beach Club, which has a private beach, as well as a pool. You can also enjoy a meal at the onsite restaurant, Il Mulino New York. It is right on the oceanfront. Of course, there is also the pool bar and grill so you can have a cold drink and a snack while you are soaking up the rays.

Residents are also able to enjoy 24-hr room service and in-home catering if you are planning a party. There is a barber shop and a salon on the premises, as well as concierge services and a 24-hr doorman. The building also has valet services, a kids’ program, and even nanny services.

Those who want to stay in great shape will want to make use of the oceanfront ESPA and fitness center. When you live at Acqualina, whether you are there full time or only during your vacations, you will feel as though you are living at a resort thanks to all of the luxury amenities offered at the building. However, the residences are just as spectacular.

What Do the Residences at Acqualina Offer?

The residences have high-speed elevators that will take the residents to their units. The floor plans vary, and have ceilings between nine and 10’ high. They also have a washer and dryer, a water filtration system, and solid-core wood doors. The terraces are oversized, and they make an ideal spot to spend some time enjoying the weather and the aforementioned views of the water. In addition, the residences have wall safes and private storage.

Those who buy Acqualina condo will also have high quality appliances from Gaggenau, as well as Sub-Zero refrigerators. The granite countertops have a full backsplash, and the European cabinetry has under-counter lights. The master bathroom has high marble walls, imported marble countertops and flooring, frameless glass-enclosed showers, designer faucets, and a luxury whirlpool tub.

It’s All About Luxury

Everything about the Acqualina, from the amenities and features of the building to the elements found within the residences screams luxury. If you have been searching for a condo in a great location that makes you feel as though you are living in a high-end resort, this could be the perfect building for you.


Looking Back – Impressive Residential Sales in Miami for 2015

By Sunny Isles Real Estate Expert on April 22nd, 2016

400 Sunny Isles

Vacant land, mega-mansions, and spec homes – 2015 was quite a year for residential sales in Miami. There were large houses trading between big names from January all the way up until December.
There were some sales that were just plain impressive with some of the top sales for the year found here.

Faena Penthouse Purchase – $60 million

Kenneth Griffin, the hedge fund manager worth billions, opted to pay a price of $60 million to acquire dual penthouse units located at the recently finished Faena House located in Miami Beach – click here for details. This blew past all the records in regards to residential sales for the Miami-Dade County.
The 12,500 square foot unit was initially purchased in September through a Delaware registered LLC. Griffin had the penthouse under a contract for more than a year and he paid over $10 million the asking price.

This sale exceeded the record price in Miami for a condo unit, which was set by the sale of a $27.5 million unit at the Miami Beach’s Continuum that occurred in December of 2014.

Key Biscayne Estate – $47 million

This is the former estate of one of the founding family members of Key Biscayne. It sold for a price tag of $47 million to a buyer who remains undisclosed, which marks the most costly sale ever for the island and tying the record that is set for single family sales in the Miami-Dade County area.

This mansion, which offers 11,600 square feet was listed for $60 million in 2014. It is a waterfront, five-story estate that spans more than two acres and includes a total water frontage of 2,000 feet.

The property was considered a playground for the elite class in America at the turn of the century and there are a number of historic houses present in the area.

Former Home of J. Lo on Miami Beach – $33 million

Phil Collins, singer, and songwriter is the newest owner of the former North Bay Road mansion that was owned by Jennifer Lopez. He paid a total of $33 million for this property in June.
The seller of the mansion was Mark Gainor, a healthcare executive who purchased the property from Lopez directly for $13.9 million.

Indian Creek Mansion – $30 million

A former CEO of US Airways, Rakesh Gangwal made the purchase of a Miami Beach mansion for a total of $30 million back in February. The property, which includes 16,393 square feet was sold by Financier Charles Johnson to Shobha and Rakesh Gangwal, who co-founded IndiGo, an Indian budget airline.

As illustrated here, there was no slump in the real estate sold during the year. There are a number of multi-million dollar transactions, which were, to say the least, quite impressive. When it comes to sales, the market may be a bit uncertain, but the fact is, there is still quite a bit of appealing real estate to snatch up in the area, making it appealing to a number of investors.


Residents Will Love 400 Sunny Isles

By Sunny Isles Real Estate Expert on April 21st, 2016

400 Sunny Isles

400 Sunny Isles – one of the newest and most spectacular developments in the Miami area, which comes from the development company Key International. The project has been completely sold out from the developer, however there are resale apartments already available – see all 400 Sunny Isles condos for sale here. The building is located in the most popular area and offers lots of unique features and amenities. If you’re on the market to buy a new property, 400 Sunny Isles would make it an ideal spot for those looking for a luxury condo in Miami whether you want to live full time or just use it as a vacation or rental property.

The property is located on Sunny Isles Beach Boulevard. It is right on the river and is close to a number of fantastic activities and attractions in the area. One of the best parts of the building is the fact that it has a marina that can provide wet and dry dock storage. Even if you do not own a boat, you will find rentals available, as well as fractional yacht ownership.

Features of 400 Sunny Isles

The building offers a wealth of different features and amenities for the residents. You have access to a full time concierge, as well as 24-hr complimentary valet parking. If you are concerned about security, you will have less to worry about at 400 Sunny Isles. The building offers a 24-hour attended camera and the latest in surveillance equipment. You can keep your car safe thanks to the undercover garage and the assigned parking spaces.

The activity center is amazing as well. They has onsite coordinators to help the residents to enjoy a wide range of amenities that you will not find elsewhere. For example, they offer wind surfing, diving, fishing, kayaking, biking, water skiing, and more. If you want to head to the beach, you can rely on the beach car service. The high-end golf carts will take you to and from the beach, or even to Oleta River State Park.

The building also features an entertainment and party lounge, and it even offers storage for those who have bikes and jet skis. Enjoy the pool, the two clay tennis courts, the beach, and much more!

What Do the Residences Offer?

Of course, if you are thinking about buying one of these properties, you want to know what makes the residences so special. The units offer floor-to-ceiling and wall-to-wall glass in the units that have a flow through design. All units come prewired for a communication system, and the units are soundproofed to give you more privacy. All of the units have high quality appliances and European cabinetry, washers and dryers, designer fixtures for the bathroom, and direct elevator access from the garage to the residence floors.

Plenty to Offer

As you can see, 400 Sunny Isles has a substantial amount of features and amenities that help to set it apart from many of the other buildings in Miami. It is a beautiful building in an ideal location for those who need to commute to work or for those who just want to enjoy the gorgeous Sunny Isles Beach and Miami surroundings.


A Look Back at the Hot South Florida Real Estate Market for 2015

By Sunny Isles Real Estate Expert on April 19th, 2016

downtown Miami real estate

The real estate market for 2015 was, to say the least, hot. With a number of record-breaking sales, it does not appear that this trend is going to slow down anytime soon. However, these huge sales were not the only result of this great year. There were a number of design companies that developed a number of impressive renderings for new developments and even created images that illustrated what the region may look like down the road.

A Vision of Downtown Miami in 2030

Thanks to VisualHouse, a rendering of what Downtown Miami would look like in 2030 was created. Assuming that there are not any new projects that will a be proposed and constructed between now and then, this image shows an authentic photo of the existing Miami skyline, along with a computerized version of 11 planned skyscrapers that have been approved, or that are already being built. Several of the buildings that are going to be built include the SkyRise Miami, which is a 1,000-foot tall observation tower, as well as the Ugo Colombo’s Brickell Flatiron. This is similar to the Flatiron Building in New York.

Elysee Residences

During the latest building boom in Miami, there was a new addition to the Edgewater community called Elysee. This is a unique all-glass tower, which is going to reach 57 stories when complete. The project has been headed by the Two Roads Development team, which is also part of the Biscayne Beach project that is currently being built and located just a few blocks away. When the tower is complete in 2018, it will be the tallest in all of Edgewater.

Apeiron Located at the Jockey Club

Spearheaded by the past CEO of the Ritz-Carlton Hotel Co., a development that was designed to help and revitalize the older condo complex found in the area of North Miami, which is referred to currently as Jockey Club. Some of the plans of this new development include dual towers that will have 240 individual residences, as well as 90 hotel rooms. The uneven elevations of these towers will give the impression of four towers, rather than two, even though the glass exteriors have a sharp contrast to the existing 1960s style buildings.

Convention Headquarter Hotel at Miami Beach

In an effort with designers from the John Portman & Associates, the Miami Beach Convention Center began a redevelopment project that will feature a hotel portion that will include 800 individual rooms, a rooftop lounge, as well as a number of beverage and food outlets. However, in order to have the project move forward, it still needs to receive 60 percent of the votes from residents of Miami Beach. The firm has hopes to have the hotel fully constructed by sometime in 2018.

There are a number of projected and in-the-works projects going on in Miami Beach right now. This construction is leading to more and more appeal in regards to new residents and something that is being embraced by the existing residents.


A New Kind of South Beach Luxury

By Sunny Isles Real Estate Expert on April 17th, 2016

South of Fifth Condos for sale

“South of Fifth” is not just a district in the world-renowned destination of South Beach; it has come to define a lifestyle. South of Fifth life is about vibrancy, luxury, culture, festivities, and needless to say, some of the most beautiful beaches and the finest white sands on the planet. When you live in this prestigious neighborhood, you have walking-distance access to the heart and soul of South Beach and the best of what is has to offer, from bay side to ocean side waterfront recreation, to eclectic boutique shopping, to exciting and internationally renowned cuisine, to one of the United States’ most electric and high-profile nightlife scenes. It may be surprising that the luxury condo building that shares the district’s name, South of Fifth or S5, takes a different approach than the myriad glassy, chic high-rises spotting the area’s skyline. View South of Fifth condos for sale HERE.

A Different Kind of Luxury

The neighborhood offers multiple iconic high-rise towers, such as Portofino Tower, Murano Grande, Continuum I and II, and many more. But South of Fifth is different – situated on Ocean Drive, South of Fifth offers a more intimate luxury community. Instead of a 35+ story tower with countless available units, South of Fifth offers just 28 – nine lofts, ten condos, three penthouses, three cabanas and three two-story beach houses. These units offer anywhere from 1,300 to 6,200 square feet and comprise a building that is a sheer architectural tour de force from Nichols Brosch Wurst Wolfe & Associates.

Unit Features

Residents and guests will enjoy east to west flow-through layouts that will provide them with day-long natural light from sunrise to sunset. The sunlight radiates into the units through floor-to-ceiling windows that provide stunning views of the seductive waters and the infectious energy of Ocean Drive. These luxury living units are equipped with wireless lighting control and custom home theaters. The kitchens feature elegant granite countertops and top-performance appliances, and the bathrooms boast limestone and glass-encased showers. Each unit provides private elevator access and service quarters with a separate entrance.

Amenities

South of Fifth residents have access to an exclusive Residents’ lounge and a private courtyard to find deep relaxation or to socialize with friends and neighbors. Other services that can be taken advantage of around the clock are complimentary valet parking, 24-hour concierge service, 24-hour maintenance, the on-site fitness center and sauna, the climate controlled bicycle room, and an oceanfront lap pool with Jacuzzi and cabanas. You can swim laps for fitness or fun in the comfort of your own complex with an ocean side view – it’s the best of both worlds. Moreover, South of Fifth residents live with uncompromised privacy and the utmost peace of mind with the community’s 24-hour on-site security personnel.

Not only do residents at South of Fifth experience a different kind of architectural design and luxury from any other complex in SoFi, but they also enjoy unparalleled access to the neighborhood’s culinary spots, clubs, shops, and other points of interest. With a superior luxury and location offering the most exclusive serenity in SoFi, South of Fifth carries one of the most in-demand profiles in South Beach.


Tips to Avoid the All-new LLC Disclosure Law

By Sunny Isles Real Estate Expert on April 15th, 2016

Miami Beach condos for sale

Thanks to the new federal disclosure requirements, which go into full effect in March, Manhattan and Miami luxury real estate (click here to view site) buyers are going to be thrust into the spotlight.

No longer is anonymity the name of the game, with this new requirement, these high-end buyers are going to have the shield of a limited liability corporation taken away. While this will not result in the complete end of anonymous buyers, it is going to limit their “hiding” quite a bit.

This new requirement is an effort that has been put forth to try and uncover any illicit funds that are being laundered through luxury real estate in New York and Miami. According to the U.S. Treasury, cash purchases made in Manhattan and Miami through shell companies are going to be tracked and will apply to deals that are $3 million and more in New York and $1 million and more in Miami. This means that title insurance companies will be required to disclose the identity of the buyer to the government regulators.

Some strategies that buyers can use to help overcome these new requirements can be found here. While they are not ideal for everyone, they can provide some effective steps in avoiding this new tracking requirement.

Utilize a Straw Buyer

Buyers can set up a “nominee agreement,” with their chauffeur, where the chauffeur is being named the owner of the LLC that is purchasing the upscale condo. Once complete, the buyer is able to purchase the LLC, rather than the condo, from the chauffer. This means the transaction is not on the books.

Set Up a Non-LLC, Partnership or Trust

While each member of an LLC has to be identified, there are other legal entities that only have to disclose an owner that holds over 25 percent of total ownership. If the shell company has 100 shares that are divided equally among 10 different people, they are able to remain anonymous.

Purchase Via Wire Transfer

The government regulators are only tracking buyers who are paying by certified bank check or cash. If you pay with a wire transfer, all this can be avoided. However, there are some tight banking regulations that will require the customer be identified, as part of the “Know Your Customer” requirement.

Opt Out of the Title Insurance

There is really no comparison to a $1 million lawsuit when you have just purchased a multi-million dollar condo. While this is a rare occurrence, buyers can opt out of the title insurance completely.

Wait about Six Months

This new requirement will be effective starting March 1st and will expire on August 27th. If you are really nervous, just wait six months to make the purchase.

Buy Commercial

While this may seem obvious, the fact is, the current order only applies to the residential purchases made in Manhattan and Miami. All commercial purchases have been excluded, which means that buyers are able to purchase properties for investment while retaining a relative amount of anonymity.

For more information on luxury condos in Miami Beach for sale please contact One Sotheby’s International Realty office at (305) 336-0457.


Cheaper Land Results in the Redevelopment of North Miami Beach

By Sunny Isles Real Estate Expert on April 13th, 2016

Miami commercial real estate

The blue-collar aesthetics of North Miami Beach, including the mid-rise apartments and traditional shopping centers found down Biscayne Boulevard is about to see a significant facelift. More and more luxury condo developers are scooping up the vast areas of land that are available in this area to develop new, luxurious high-rise buildings, as well as mixed-use projects. This is all in hopes that this development will lure in new buyers who are searching for great deals near Sunny Isles Beach and Aventura.

Projects “In the Works”

Currently, there are about 8,000 new rental units and condos being planned and presold on a stretch of Biscayne Boulevard that lies between the Northeast portion of 151st Street and Northeast 176th Street.

Thanks to lower land prices, developers are coming to this intercostal area, which is allowing them to build units that are more reasonably priced, but also close to the water. Another appealing factor is that they will soon be serviced by the Tri-Rail commuter train, which will be making passenger stops at 163rd street as soon as 2018.

Appealing Real Estate in Miami

A number of developers are also receiving encouragement to build along the intercostal area of North Miami Beach, which recently passed all new zoning regulations last March, which allow for higher density projects for the Biscayne Boulevard area. Please CLICK HERE to see Miami commercial real estate opportunities.

In the past few years, developers have begun to actually build, or announce their intentions to build, new condo towers, as well as mixed-use projects. Last February, the Plaza Group completed the first of the two buildings that are making up the Marina Palms project. Each of the towers is 25 floors and together offer 468 units. Other features are a yacht club and marina that provide 112 boat slips. Currently, about 80 percent of all the units in the south tower are sold, and closings have started for the recently completed north tower.

Additional Developments Coming Soon

Another new development occurred in August, with Key International and 13th Floor Investments closes on a deal worth $30.5 billion to purchase land along the Biscayne Boulevard corridor. This purchase will be the home of a twin-tower condo, named The Harbour. The 32 story buildings will include 425 total units and about 70 percent of them have been sold currently. These range in size from 2,442 down to 1,032 square feet and can be purchased for between half a million and $1.2 million.

Real estate in this region is continuing to sell and be developed, which is helping to attract a higher-end buyer to the area, who may be trying to escape the higher prices found in nearby Miami Beach. There are several condo projects in the works and quite a bit of the land along Biscayne Boulevard is spoken for and being developed in the near future. There is no question these luxe and posh condos and apartments are going to attract a higher caliber of buyer, allowing developers to flex their creative muscles while creating upscale units for those who appreciate the finer things.


Portofino Tower: Setting the Standard for South Beach Luxury

By Sunny Isles Real Estate Expert on April 11th, 2016

Portofino Tower Miami Beach

South Beach luxury high-rise living (check site for active South Beach listings) has become a culture unto itself. Visitors and residents from around the world have been seduced by South Beach’s elegance, style, and broad offerings in entertainment, nightlife, cuisine, arts, culture, architecture, and of course, the fine white sands of the bay and ocean side beachfronts. Nothing completes the luxury of vacationing or residing in South Beach like the condominiums and penthouses that now define the neighborhood’s skyline. These structures cascade above Ocean Drive, over the Biscane Bay, and throughout the prestigious South of Fifth neighborhood, putting their residents and guests within walking distance of the best that South Beach has to offer. The one that started it all – Portofino Tower Miami Beach.

The First of Its Kind

Portofino Tower was the very first luxury high-rise building in South Beach, a pioneer and an immediate symbol of SoFi life. With its instantly iconic salmon walls and ocean blue windows, the 44-story tower was situated at city’s southern extremity directly in front of the Port of Miami on Government Cut, securing perhaps the best possible vantage point for sweeping panoramic views of the ocean, the bay, and the city itself. Legendary developer Jorge Perez’s project set the standard for SoFi ultra-luxury, featuring expansive floor plans and floor-to-ceiling windows to make breathtaking views an element of everyday Portofino Tower life. In fact, the enduringly high profile of the tower, combined with the best in round-the-clock security, has attracted residents of both national and international celebrity.

Exclusive Luxury

Certain lavish elements are available only to Portofino Tower residents, such as the exclusive Club Portofino, a 29th floor destination including a variety of services and amenities, such massage, sauna/steam rooms, a bar terrace, theaters, game rooms, and the Tower’s state-of-the-art fitness center. Residents and guests also enjoy a variety of swimming pools and tennis courts, as well as the Portofino Poolside Café which serves daily lunch. Other services include 24-hour on-site security, concierge services, and round-the-clock complimentary valet parking.

When you enter the stunning Portofino Tower lobby, you’ll be welcomed into a four-story masterpiece featuring a beautifully serene fish pond. The unbelievable living spaces of Portofino Tower are accessed via semi-private elevator foyers and double door entry. Each unit boasts 9-foot ceilings, floor-to-ceiling windows providing breathtaking panoramic views, Italian designed Snaidero kitchen cabinetry, large outdoor terraces, master bath Jacuzzis, spacious closets, granite vanities and more. The kitchens are equipped with top-of-the-line Sub-Zero and Miele appliances and feature breakfast areas as well. The considerably sized units are available in floorplans from one to four bedrooms and from 1,090 – 4,510 square feet.

Portofino Tower isn’t just South Beach, South of Fifth luxury living – Portofino Tower defines it. And on top of the ideal living community of the building’s residences and amenities, Portofino Tower offers convenient access to the beaches, cuisine, shopping, and culture of South Beach. A well known standard-setter in luxury amenities and services, a trendsetter in South of Fifth architecture, and the first addition of its kind in South Beach, Portofino Tower has earned all of the high-profile respect that it’s been given.