Bay Harbor Islands Going Under Massive Redevelopment

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

Miami real estate for sale

Bay Harbor Islands – (view website) sits between North Miami to the west and Bal Harbor and Surfside to the east and was once the best place you could visit to see mid-century Miami Modern style architecture—often called MiMo—in the entire country. Recently, though, it’s become clear change is coming.

Some of Miami’s Best Architects

In many ways, Bay Harbor Islands can be seen as a gallery for many of Miami’s best architects. Head to Bay Harbor’s East Island and you’ll find a number of low-slung apartments and condos that were designed by legends like:

• Henry Hohauser
• Morris Lapidus
• Charles McKirahan

They took the art deco style that was so widespread in Miami during the 1930s and pulled it into the MiMo designs that cropped up during the middle of the 20th century.

The famous Bay Harbor Continental, a co-op building in a curvy wedge shape that is anchored by a cylindrical outdoor staircase, was created by McKirahan in 1948. It also features multi-colored glass that dots certain portions of the exterior.

McKirahan is also to thank for the Bay Harbor Club, the two-story V-shaped building located right on the water with great beanpole columns going from the ground all the way to the ceiling. Fans of the TV series Dexter would most likely recognize it as the main character’s home.

Times Are Changing

Although much of this history is worth maintaining, there’s a reason the National Trust for Historic Preservation named East Island to their annual list of their “11 Most Endangered Historic Places” back in 2014.

Many examples of MiMo architecture have already been demolished, though plenty more are awaiting their date with the wrecking ball.

What will this secluded portion of Miami become in its next life?

If current trends are anything to go by, it’s going to transition into boutique living. The area is truly a hidden gem. It offers a great location to anyone who wants to get around the city or hit downtown. Of course, if you want to visit the beach, you’re almost always within walking distance. This means plenty of waterfront views too.

Furthermore, the area benefits from an excellent school district. There are also Bal Harbour Shops nearby to enjoy too.

Its greatest feature, though, may simply be a sense of community. Whereas other areas throughout the city are expansive, Bay Harbor Island’s odd positioning gives it a small town feeling, despite all the big city amenities that are within driving distance.

Although most people who can afford these new developments will definitely have enough money for an automobile, public transportation in Bay Harbor Islands is very accommodating.

There is a free shuttle that runs between 9am and 5pm, Monday through Friday. It makes stops in North Miami, Surfside and other popular locations. There are also public bus routes people can jump on too.

While Bay Harbor Islands definitely had a good run, it’s clear that the time for change has arrived. Hopefully, much of the amazing architecture the area is known for will remain and new examples of Miami’s top talent can find a home as well.

Check out homes for sale in Bay Harbour Islands HERE – and call our office to set up showing – (305) 336-0457.

Bay Harbour Islands to Get More Condominiums

By Sunny Isles Real Estate Expert on September 22nd, 2014

O Residences Bay Harbour

Bay Harbour Islands homes has always been popular when it comes to condominium developments. It has a wonderful location and plenty of fantastic features and amenities in the area, and it is little wonder that even more condo developments are in the works for the area in the near future.

More Developments on the Way

Recently a company from Miami called 9770 E. Bay Harbor Properties LLC bought up three lots in the area for $5.2 million. These three lots are quite large, with a combined 60,000 square feet. The lots are in a wonderful spot that’s very close to everything that residents and potential residents of Bay Harbour Islands have to offer.

Currently, the three lots each have small apartment buildings from the 1950s. These low rise residential units will eventually need to be torn down in order to make room for new buildings, if that is the route they choose to take. While many see the locations as prime spots for a new tower complex, it is still unclear just what the new owners will be doing with the property, as they have not made any announcements.

These areas are likely getting quite a bit of attention from condominium developers though. It’s a prime area and has the potential to bring in quite a bit of money if developed properly.

Bay Harbour Islands Is Always Impressive

People love Bay Harbour Islands, and the sales of condominium units on the islands have always been successful. It remains one of the most active and popular areas in South Florida when it comes to condo development. One of the reasons for this is the fact there are a substantial amount of land and properties available that are good choices for development.

The latest development boom in the area is proving to be very beneficial to developers eyeing Bay Harbour Islands. Currently, they are proposing at least 30 new towers for the area, which would bring in 1,350 units. This makes the area one of the fastest growing and most popular areas in all of South Florida.

Of course, with the big boom over the past couple of years, things have been going well through much of Florida. However, it’s still not quite clear whether there really will be enough buyers to purchase all of the new proposed units. Since there are so many options in South Florida for homes, the addition of even more units could actually slow home sales.

Still, the area is popular with more than just U.S. buyers who are looking for a new home or rental property. Many foreign buyers are looking to buy in the region as well, and having great properties that are so close to the water can help to accommodate all of the out of country buyers looking for vacation properties or investment properties. Right now, it seems as though it should not be too difficult to find enough buyers for the properties along Bay Harbour Islands and the surrounding communities.

Luxury Home Sales Are Booming Once Again In Miami

By Sunny Isles Real Estate Expert on February 22nd, 2013

Miami Luxury Homes For Sale

Waterfront Homes For Sale In Miami

It appears as though the sale of luxury homes in Miami

might once again be on the rise. Last month, a penthouse in The Setai sold for approximately $27 million. Currently, this amount has set a new record for the most amount of money ever paid for a condo in the South Florida region. Neatly situated on the 40th floor of the high rise building, this penthouse suite boasts 4 bedrooms, 4.5 bathrooms, and an overall size of 7,100 square feet. Prior to that there was a sale of $21.5 million dollar condo in the same building back in 2011. The previous record for the amount of money ever paid for a single condo in South Florida was $25 million, which was sold in May of 2012.

Whether or not these signs are indicative of a recovery for the housing market of Miami is going to depend upon who you talk too. At the 2012 Miami International Real Estate Congress event at the Miami Biltmore Hotel, Lawrence Yun, the chief economist for the National Association of Realtors, stated that approximately 77% of Miami’s higher end realty firms had worked with international buyers. By comparison, only 27% of high end realty firms, across the United States, have worked with international buyers in the last year.

Miami’s exposure on an international level has been primarily responsible for the increase in growth from foreign buyers. The majority of foreign buyers have come from South America, Russia, Europe and recently sectors like China and India have shown interest from buyers seeking for a safe haven for their cash at the moment.

The sale of luxury homes in Miami

as well as non-distressed properties is certainly a desirable commodity right now. Available inventory levels have been tight since the summer of 2012. Many residential homeowners are still reluctant to place their homes on the market until they have begun to recover more of their pre-housing crisis values. On the downside, if the value of Miami homes continues to rise at its slow pace, the National Association of Realtors believes that it will be 2017 before these homes return to their pre-crisis levels.

The signs of recovery are there. Between August of 2011 and August of 2012, the median home prices in Broward County rose by 12.5% to an average value of $215,000.00. Is it safe to say that the housing slump is over? It is too early to tell at this point, but if the sale of luxury Miami homes is any indication, buyers are, once again, looking to Miami as a city worth investing in.

Bal Harbour, Surfside, Bay Harbor Islands Experience Economic Boom

By Sunny Isles Real Estate Expert on January 27th, 2013

Bal Harbour Real Estate

Bal Harbour condos

Bal Harbour real estate

which is located in the northern portion of Miami Dade County, has experienced a recent economic and housing boom. An increasing number of home buyers are seeking out property in this area, because, while quite beautiful, it is removed from the hustle and bustle of the city. However, if current trends continue in this manner, this may not be the case for long. In 2012, the community passed the $758 million mark in home and condo sales.

As a result of this boom, a number of new housing projects are being proposed for Bal Harbour, Bay Harbor Islands, Surfside, and the surrounding communities. There are currently 10 new proposed condo developments in the works. If all are completed, these projects would bring 500 new units to the Bal Harbour community. These proposed developments are already producing an effect on existing housing prices in Bal Harbour.

What is the driving force behind Bal Harbour’s popularity? According to reports released by the Miami Dade County Property Appraiser’s office, median home prices in Bal Harbour have risen 35% over the same time last year. In addition to home buyers’ preference for the community, sales here are also being driven by the recent development of St. Regis Bal Harbour. Officially opened in January of 2012, by August, St. Regis had already passed the $658 million mark in sales. One of the highlights of these sales was the $24.6 million purchase of 5 units that a foreign investor made.

Since the condos at St. Regis

have been completed, new shops and restaurants have also opened up in the vicinity, which has further made this community much more desirable. At the average closing, home buyers have been paying between $1,200 and $1,500 per square foot of space. In the last several months, several high profile expensive developments have been proposed for Bal Harbour. While approval for these proposed projects is still pending, it has become quite clear that this community is the new, hot commodity.

The housing boom has also driven economic growth in the community. In addition to the aforementioned new shops and restaurants, the Bal Harbour Club recently sold for a total sum of $225 million. Ryan Shear, who is the managing director of Property Markets Group, has attributed the new, sudden desirability of Bal Harbour to two primary factors:

One is the lack of supply — obviously there’s only so much oceanfront in South Florida, and the other factor has been the South American buyers — these aren’t New Yorkers or Americans — in all these buildings.”

Bal Harbour Realtors

will certainly be watching the new developments in Bal Harbour with an eager eye. Already, home prices in Surfside, a barrier island just north of Bal Harbour, have begun to rise as new buyers seek out homes. In 2011, growth in Bal Harbour condos was stagnant, but its fortunes appear to be on the upswing now, and it will be with baited breath that others await to see just how far the community rises.

Miami Luxury Condominium Sales on the Rise

By Sunny Isles Real Estate Expert on March 7th, 2011

One Bal Harbour For Sale

Bal Harbour One For Sale

Among the luxury condos in Bal Harbour Florida

One Bal Harbour is well known as one of the most luxurious. This towering condominium property has condominiums that range in price from the mid six figures to well into the millions of dollars. For properties in Florida’s luxury market, the sun is starting to shine again. Developers have picked up properties at condominium developments throughout the area and individual buyers are interested in moving in. For owners, this is a good time to consider engaging a real estate agent to list your property, if you’ve been thinking about selling.

As of the last quarter in 2010, there were 42 units for sale at One Bal Harbour Condo. There are several different unit styles at this property, ranging from 2 bed and bath condos to three bed and bath units. The highest price being asked during that quarter was $2.69 million, with a square-foot price of $1,018. While this is above the average for price per square foot in Sunny Isles Beach, that average figure has also been steadily climbing in the past several months. Some of this is due to investor interest. Property developers have been snatching up listings at these properties as the market improves, making available condominium properties scarcer and scarcer.

Part of Bal Harbour One’s appeal

is that it is such an upscale development. Even among the other luxury condominium prices in Bal Harbour, the price is higher than average. In 2010, most luxury condominium properties averaged approximately $511 per square foot of space. At Bal Harbour One condo, residents are asking over $600 on the average, a testament to the level of luxury at this development. Many of the properties were commanding prices well in excess of $1,000 per square foot.

Other statistics show that property owners were averaging over 90% of their asking price per square foot in 2010. For those who are considering listing a luxury condominium on the market, this is obviously a great incentive. Properties such as Bal Harbour One, because they cater to the very affluent, are also not as sensitive to the market in terms of price and demand. The upscale market continues to thrive. There are also unique features of Bal Harbour real estate that make these properties even easier to move.

While southern Florida is a favorite retirement and vacation destination for Americans, it’s also popular with people all over the world. Sunny Isles Beach is renowned for its many residents who hail from other nations, and this means that the real estate market always has an advantage over the general residential market. Luxury buyers are more willing to invest a lot in a property and, with the sort of amenities that are offered at Bal Harbour One, the sell is usually not so difficult for an experienced realtor. The proximity of Collins Avenue, one of the most fashionable streets in the most fashionable part of the Miami-Dade area, is also a huge selling point. There are plenty of places to shop and dine in style in this area.

Miami Beach real estate and Bal Harbour real estate

both been recovering from the aftershocks of 2008. While there were a large number of properties on the market following the crash, this is no longer the case. Even at competing properties, such as nearby Jade Ocean, Jade Beach and others, there are few condominiums on the market. This is, of course, partially due to the amount that have been bought up by property investors. For those considering listing, this all means only one thing: there is interest out there, provided you can reach out to those interested parties.

Over the past couple of years, the median price for One Bal Harbour condominium properties has fallen. This is until the last quarter of 2010, when they started to move upward again. With fewer on the market and more demand, it doesn’t take a sophisticated knowledge of economics to understand the likely performance of prices in the near future. With average prices per square foot on the rise and more interest in buying properties in southern Florida among the luxury demographic, it’s shaping up to be a seller’s market once again.

Selling luxury properties such as those at Bal Harbour takes real skill and experience. If you’re listing, be sure to hire a realtor with experience in this area. The luxury market operates differently than does the regular market. Because of the population of Sunny Isles Beach and the worldwide popularity of the area, it’s also important to deal with a realtor who can get your property in front of the eyes of people around the world. As the market heats up once again and money starts flowing, having a good realtor in your corner is imperative.

The Perfect Family Locale: Bal Harbor Condos are on Sale

By Sunny Isles Real Estate Expert on January 4th, 2010

Bal Harbour Condos For Sale
Bal Harbour Condos For Sale On The Ocean

Choosing Ocean Front Condo In Miami

or the right property to purchase, when you make the decision to move to the Miami area can depend greatly upon what you are looking for. One of the most popular areas is Bal Harbor real estate for a number of reasons. You may find that Bal Harbor condo is the perfect place to purchase your family’s next condominium.

Known for its family friendly location and a plethora of attractions and entertainment venues, Bal Harbor has become a favored area for new real estate condo purchases. A great number of shopping centers and malls as well as plenty of dining establishments are located in the area so that residents will never lack for activity and options.

If you are considering relocating to the Bal Harbor condo, then consider the selection of condos that are available now. The condos in the area retain a luxurious style in amenities and accommodation, providing buyers with the upper scale living expected of the area.

Because there is a lull in the Miami real estate market due to the low economy, the time is right for buyers to purchase Miami condo that they love. You may be surprised to find that you can afford a condo that has even more to offer since prices are at all time lows.

If you’re on the market to buy Bal Harbor home

look no further. There are great number of condominium options, both brand new and well established as well as single family homes in Bal Harbour on land as well as waterfront. As a resident, you will be able to enjoy luxurious living, family friendly entertainment options, and ocean front views. Additionally, Bal Harbor properties is within minutes of the other areas so that residents can enjoy all of the attractions of the city.

Anyone looking for the perfect place in Florida to relocate will love the Bal Harbour and Miami area. Buyers looking to move their family to the area will love the proximity of Bal Harbor where they will find five star dining, excellent options for shopping, and plenty of beachfront activities.

Most popular ocean front condos include One Bal Harbour, Bellini Condo Bal Harbour, Majestic Tower, The Palace Bal Harbour, The Plaza Bal Harbour, Tiffany Bal Harbour, Balmoral Bal Harbour, Harbour House Bal Harbour and of course soon to be completed St Regis Bal Harbour.

For more available condos for sale in Bal Harbour and Bal Harbour single family homes for sale please visit – Bal Harbour Properties For Sale And Rent.

Bay Harbor Islands is the Prestigious Real Estate in Bal Harbour, Florida

By Sunny Isles Real Estate Expert on November 4th, 2009

Bay Harbor Islands Real Estate For Sale
Bay Harbor Islands Prperties For Sale

There are many reasons why people choose Bay Harbor Islands real estate

An established residential area in the private community with waterfront single family homes for sale. If you’re looking for a waterfront property so that you may enjoy boating, sunbathing, jet skiing, and many more water sports activities, Bay Harbor Islands homes is for you. Bay Harbor Islands real estate for sale offers prestigious location that offers all of the luxury and quality of upscale living, located within steps of entertainment and dining options.

What if there was one location that provided a combination of all of the above? Many people think that they have to sacrifice some of their wish list in order to mark off other things. However, there is one neighborhood that can offer it all. Bay Harbor Islands is the most prestigious location in Bal Harbour single family homes.

At Bay Harbor Islands property

the owners or renters will enjoy that their home is just steps away from the Bal Harbour Mall. In addition, the many Bal Harbour real estate properties are available in this neighborhood, which provide direct ocean front access. Even the ones that are not right on the ocean are just minutes away from the beach.

The neighborhood is conveniently located near South Beach real estate and the main area of Miami, so people will be able to enjoy all of the attractions of the city. Bay Harbor Islands offers close proximity to the city, but the islands are situated away from the busy areas so that people can enjoy their quiet getaway as well.

Whether you are looking for the best of the best in large, prestigious homes, or you simply want a small beachfront single-family residence, you can find your new home in Bay Harbor Islands. There are plenty of properties to choose from, and they are available in all sizes, but they retain the same amount of prestige and style.

Bay Harbor Islands is a Great Single Family Community in Miami

By Sunny Isles Real Estate Expert on August 15th, 2009

Bay Harbor Islands Miami Houses For Sale
Bal Harbour Houses In Bay Harbor For Sale And Rent

Miami real estate

has a lot to offer its residents. Those who choose to move to the city will find a number of places to live. One of the most popular is Bay Harbor Islands homes, a great single family community in Miami. You will find a number of Bay Harbor Island properties for sale in this area at prices that you will be able to afford.

Families looking to move to Bay Harbor Islands house will find a number of different types of homes from which they can choose. The area has single family homes, condominiums, and more.

Living in Bay Harbor Island Bal Harbour

includes plenty of perks. You will find that the beautiful ocean and the multitude of sandy beaches are nearby, and it is only a short trip into all of the great neighborhoods in Miami. Whenever you want to get out of your house for a bit of exploration and fun, you will find that shopping and dining abound. The Bal Harbour Mall is close by, as is the famous South Beach area.

Bay Harbor Islands

is a great waterfront single family houses in Miami Beach, with plenty of schools nearby, as well as a close proximity to a variety of entertainment venues. When you and your family make the move to Bay Harbor Islands home, you will be living in the lap of luxury.

The weather is beautiful, and whether you want to make your home in Bay Harbor Islands Florida your second home or the place you live throughout the year, you won’t regret it. The houses are luxurious and affordable, and you will find that the area is perfect to raise a family. Take some time to look over all of the great properties that are available in the area and you are sure to find something to love.

Why Do People Love Living in Bay Harbor Islands Bal Harbour Miami Florida?

By Sunny Isles Real Estate Expert on June 10th, 2009

Bay Harbor Islands Bal Harbour Miami Homes For Sale
Bay Harbor Islands Real Estate

Bal Harbour Florida

is a small and friendly community that offers great options for families looking to buy Miami real estate. The homes in Bal Harbour the area are never far from the water, and you will find plenty of great places to shop and dine. One of the great things about living in the community is that everything you could ever want is nearby. You can live in luxury in an excellent area and it costs less than you might think.

One of the first things that you might notice about Bal Harbour

is the beauty. The streets are clean, the air is tinged with the fragrance of the ocean, and you will find just about everything you want close to your home. It is an ideal place to live on the ocean or on the bay, without question.

You will also be close

to many other popular areas in Florida, such as Ft. Lauderdale, Hollywood, and Hallandale. These other areas offer you even more places that you can shop, eat, and explore. Some of the popular places to dine in Bal Harbour include the Palm Restaurant, the Da Vinci Café, Carpaccio and Flanigan’s Seafood Bar and Grill.

Everyone in the family

will have a great time living in one of the most opulent areas in Florida. You can take the family to visit Bal Harbour Shops, which is a prestigious shopping area, Arch Creek Park, and Bal Harbour Gallery.

The weather is beautiful

the people are friendly, and you won’t believe the wonderful atmosphere. It is like living in your own little island paradise. You won’t regret your decision to move there. It has everything that you could want and more!

If you feel the need to splurge and go shopping

you can head down to the local Bal Harbour mall and peruse the many wonderful shops. Another great feature of living in the area is that the famous South Beach is only a few minutes away. Living here, next to the beautiful water is the true meaning of luxury.