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.

Miami real estate

If you are extremely wealthy and have an additional $38.5 million burning a hole in your bank account, then you might be interested in purchasing the Kennedy Compound located in Palm Beach, FL. That’s right; this famed home, the Winter White House as many called it, is actually for sale right now. This property was one of the main homes of the Kennedy family from 1933 all the way up to 1995. Consider for a moment the price that the previous buyer, John K. Castle, paid for it in ’95. It only cost him $4 million. During that time the property, which was once in danger of being torn down, underwent a massive $6 million renovation.

Let’s go back a little further in time and see what Joe Kennedy paid for it in 1933. He paid just $120,000. Of course, that amount of money went a lot further then than it does today. Originally, the home, designed by famous architect Addison Minzer, was for Rodman Wanamaker, owner of a number of department stores. Wanamaker had the house for about eight years before selling it to the Kennedy family.

What Does $38.5 Million Buy You Today?

What will the lucky owner of this home have in store for him or her? The home is massive, coming in at 15,500 square feet. Originally built in 1925, the home features eleven bedrooms, as well as a tennis court and a pool. While it certainly has other features and amenities – after a $6 million renovation, it has to have quite a few amenities that will make it truly special – we know little about the property today. The current listing for the property is still a bit on the sparse side, with the brokers offering very little information on the property other than the historic nature and the great views of the ocean.

The neighbors say that the Kennedy Clan always spent quite a bit of time in Palm Beach at the compound, particularly during the holidays. They also say that up until Castle took over and completed all of those renovations, they thought the property would be a tear down, simply because it looked worse for the wear. Castle’s renovations changed all of that, and it is a shining example of Palm Beach beauty today.

Information Is Scarce

One of the reasons that the information is limited right now is because the brokers and the sellers realize what a high profile home this is. They want to draw attention to the property, but they don’t want people coming out of the woodwork to get viewings of a home they could never hope to afford! Keeping the sale a bit quieter might be a good tactic in this case. Those who can afford it surely already know about the property and have the inside information they need.

Few people in the world are able to afford a property such as this. It will be interesting to watch the saga of the property and to see who buys it next.

If you’re on the market to buy luxury property in Miami please contact Lana Bell at One Sotheby’s International Realty today!

Miami condos

Just how healthy is the housing market in Miami today? Around the country, we’ve seen quite a big change since the crash of 2007, and things have completely reversed. This includes Miami as well as entire South Florida, although it can be a bit difficult to predict the future. Still, looking at the way things are right now, the real estate investments are looking very strong, and there is a healthy amount of competition in the area. Agents feel that one of the reasons that it is difficult to get a full picture of the market is that each of the different areas are a microcosm unto itself. They have their own supply and demand, and people have to take a step back and look at the big picture to try to understand just how things are going. (Visit Miami real estate website HERE)

What Types of Properties Are Available?

One of the nice things about South Florida is the fact that you are never going to be at a loss when it comes to different styles and types of properties. You can find some relatively simple single-family homes if that is what you are after. You can also find some massive luxury estates right near the water if that is what you prefer. Of course, you many find that buying a unit in a luxury oceanfront condo is more your style. Buyers have many different types of properties at their fingertips.

Is It a Buyer’s Market?

Right now, it appears as though there is about six to seven months worth of inventory available in the Miami area, although different neighborhoods may have more or less depending on a number of factors. Still, this is a good amount. They consider anything more than a six-month inventory to be heading into the realm of the buyer’s market, even though some agents will not say that it is there quite yet.

What does it mean to be in a buyer’s market? It essentially means that the number of properties available is greater than the number of buyers. Even though South Florida is hugely popular and there is not a shortage of buyers, there could be a surplus of homes in the short-term. This means that the buyers will have more leverage, and that they could potentially get the homes for a better deal since the sellers have so much more competition. If a buyer does not like the price of one property, he or she can go and find a similar property for a price they do like. This puts a bit more pressure on the sellers.

A seller’s market would be just the opposite. There would be a shortage of available properties, and the prices for them would go much higher, sometimes resulting in bidding wars for certain properties.

It’s best for both parties when the market is balanced, and that looks to be where South Florida could be headed soon. The number of buyers and the number of homes should balance one another. Overall, the strength of the market right now in South Florida appears to be quite good.

2013 was the best year Miami real estate prices (click here to see Miami real estate website) and property values have seen in the better half of a decade. Prices on luxury Florida homes gained 16.5 percent from 2012 to 2013, according to a Case-Schiller index for Broward, Palm Beach, and Miami-Dade counties.

The real estate market all over the United States has rebounded, though the rest of the country saw more modest gains than the Miami area, topping off at about an 11.3 percent increase over 2012. Market analysts are confident that this upward trend will continue, though perhaps at a slightly slower rate. What are some of the factors that will keep property values on a steady incline through 2014 and into the future? Thanks to marketing on the part of the city’s tourism board, Miami is becoming better known, all over the world, as a beautiful vacation destination.

In our latest reports, you will gather that the local South Florida market and especially Miami real estate market, has completely recovered and prices are back on the rise. In the charts below, we take a look at both Miami Dade’s and Broward County’s 2013 sale history. By overviewing the amount of housing sold along with the price per square foot, there is clearly an upward trend in both of these markets.

Sunny Isles Beach condo

An airline merger and new flights from different international locations are bringing more visitors, business people, and potential future residents to the city every day. The film and entertainment industries, along with several other fields, are doing more and more work in south Florida. All of these things add up to Miami looking more and more attractive to potential homeowners, which drives up property values across the board.

The Miami tourism board has been working overtime to bring awareness of this beautiful city to travelers and business people around the world. The more tourism and travel Miami sees, the more people will be made aware of what a vibrant place it is to live. The film and entertainment industries have fallen in love with Miami – and with Florida, in general. The city makes a beautiful and versatile backdrop for all kinds of films and other ventures. This not only raises awareness of the area, but it also funnels jobs and money into the area. More job opportunities in the area mean more people moving in, a higher demand for real estate, and a healthier real estate market.

A future rise is expected for 2015, and current year prices are hypothesized to remain stagnant. Despite desire for growth, this is a positive projection because too much upward growth in the market could result in instability. Moreover, there is and will be a massive increase in South Florida inventory which may also contribute to the plateau effect. A healthy and constant economy should be one that adapts to the overall market and avoids any rapid growth. South Florida is the most stable it has been in over four years.

Another growing trend in South Florida is the super luxury market. Both counties are successfully selling condos and housing in the $5 million range and upwards. This part of the market has a huge impact on the economy, and again there is a noticeable increase in this particular area of the market.

N. Bay Road Miami Beach House

Miami has a rich and unique relationship with the big screen and Hollywood, which dates back decades upon decades. Not only is southern Florida’s most bustling metropolis famous the world over thanks to films like the 1924 silent classic “Miami”, the hit TV show “Dexter”, and both the TV and film versions of “Miami Vice”, but Hollywood literally comes to Miami on a regular basis. And when it does, it brings its revenue with it.

Let’s take a look at the breakdown of how the film industry affects Miami’s economy. We’ll go from smaller numbers to larger ones. You may be familiar with some of these figures, but others may surprise you in a big way.

Miami and the Oscars

Quite a few very important scenes in “The Godfather: Part II” were filmed in the Miami area, bringing a lot of attention to our fair city. When the film won 6 Oscars, it brought even more attention. Movie tourism is a very real and powerful thing. When films show off a city, fans want to visit, especially when those films show off how beautiful the city is and how many glorious beaches are within easy driving distance.

The Miami Entertainment Complex

This 70,000 square-foot municipally owned production complex is the brainchild of the brilliant staff at Miami’s own Omni Community Redevelopment Agency. The complex will feature two 10,000+ square-foot sound stages with 50-foot ceilings, gaming and 3D animation suites, a digital imaging motion capture studio, and tens of thousands of square feet of offices and storage.

Celebrities in Residence

Matt Damon isn’t the only celebrity homeowner in Miami, but his North Bay Road house complted in Mediterranean Revival style, is a great example. The Oscar-winning star’s house has a list price of over $18.99 million. With money like that pouring into Miami Beach real estate, we’re sure to see property values all over the city on the rise.

Employment Opportunities

There are approximately 100,000 film professionals living in Florida. Over the past 3 years, the film industry has brought $658 million into the state to pay their wages alone. That doesn’t even count other expenses, like rental properties and other filming essentials. With the film industry employing this many people in the area, Miami has been booming.

Overall Economic Impact

Speaking of “other filming essentials”, it’s been estimated that the film industry has brought over $1 billion into the local economy. That means more money is being pumped into real estate, local retail stores, the service industry, etc., all over the city and the rest of Florida.

The Appeal of Tourism

As we’ve discussed, all of these amazing benefits that the film and entertainment industry has had on Miami, we haven’t even touched on tourism. Tourism, spurred on by Miami’s appearances in so many films and TV shows, is expected to bring in somewhere between $1.6 and $5.9 billion in the next 3 years, alone. That means more business for local stores and restaurants, as well as hotels and resorts.

The film industry has already impacted Miami in a hugely positive way. We’re excited to see how it helps our beautiful city grow and develop.

Bath Club Miami Beach

Miami Beach has a lot of wonderful history to it and The Bath Club Miami Beach is part of that. This particular development dates back to 1926, though the condominium portion of it only dates back to 2005. In the 1920s, this was a very happening place to be, where celebrities, politicians and other powerful people all met and mingled to party and enjoy getting away from it all in sunny Florida.

The new tower, built in 2005, is 20 stories high and offers direct access to the ocean. There are 118 condominium units located in the development, and this is one of the most desirable locations available in Miami Beach. CLICK HERE to view available units for sale and rent.

The Property

The Bath Club is, for most people, the centerpiece of this development. It features private ballrooms, game rooms and more. The Bath Club is designed to be a fully functioning residential development, however, and that means people need more than diversions when they are at their homes.

There is a business center available to residents, making it easy to keep up with necessary tasks. If you need to stay in shape, you’ll find a personal training service available, providing you with the best way to stay fit, even if you do have to stay at home a lot and get some work done. There is also 24-hour security available at this establishment, meaning that people who do have a need to keep private will find everything they need for a safe and secure environment at The Bath Club.

Of course, given the history of this establishment, there are many opportunities to have fun. There is a lounge in the courtyard, 540 feet of direct beach access and a full concierge service available on the premises. There is also a game room available, complete with billiards. If you want to relax with a spa service, you’ll find it available here.

There are high-speed elevators that run up and down the 20-story tower, with private and semi private options available. Each individual unit has its own intrusion alarm, and you come into the property through a beautiful grand foyer.

In the residences, you’ll find 10-foot ceilings. The doors are solid core and the residences are very private. Gourmet kitchens are accentuated by high-end appliances, making this a perfect residence for people who like to cook at home, right down to the Italian espresso machines included in the units.

The cabinetry is European and the countertops are granite. Go into the bathroom and you’ll find a frameless glass enclosed shower with high-end finishes, as well.

Getting In

The history of this establishment will make it compelling to many buyers. In addition to its history, however, it is outfitted with the most modern of amenities, from the state-of-the-art security to the state-of-the-art appliances in the kitchens. This is a wonderful place to call your own if you want to live in Miami Beach and be in the heart of it all and spend your time where some of the most famous celebrities and politicians of the past once spent their free time.

Contact our expert Bath Club realtor Lana Bell at (305) 336-0457

Miami condos for sale

Sunny Isles Beach has a reputation for new oceanfront luxury high-rise condominium community of the 21st Century and, in that regard, it seldom disappoints. Sunny Isles Beach real estate (click here to view the site) as well as other parts of Miami presents one of the most attractive luxury real estate markets in the world. In fact, it is so attractive that it brings people from all over the world and, in part, that is what inspires me to be a real estate broker in this affluent, diverse and exciting real estate market.

ONE Sotheby’s International Realty is of the most prestigious real estate firm in the world and speaks directly to the market for luxury properties. To offer better service, I am a Certified Luxury Home Marketing Specialist and a negotiating expert, which gives me the necessary knowledge to help clients meet their goals with their property purchases, which is one of the things that truly makes working in real estate worthwhile. A property is so much more than another acquisition. While a property can be a great investment, at some level, it is always a home and helping clients to find exactly the property they wish to call their own is incredibly motivating.

A Great Market

The Florida real estate market is definitely heating up again, according to multiple sources, including the Miami Herald. There are great opportunities for people to make investments in this market, and with people from all over the world being attracted to Miami real estate, I’m able to take advantage of my global connections, the resources I have at my fingertips and my expertise in this market to help people find exactly the properties they want. Ideally, I’m able to bring together the perfect property and the investor who will appreciate it for what it is and be able to turn it into something that is uniquely their own.


I have a staff of 20 expert agents who understand the cultures of people to whom we sell and who speak the native language of the buyers. That includes people who speak fluent Russian, Portuguese, Chinese, Hebrew, French, Spanish, Italian, German and Swiss. With a great deal of cultural knowledge and the ability to speak to people in their own languages, we are able to make certain that the investments that international buyers are making in the Miami areas is understood to the greatest degree of detail and that buyers can proceed with confidence when they find a property that they want.

The Deal

Of course, completing a real estate deal means more than being aware of the culture of your client and being able to speak the language. The language of real estate itself is something that requires skill to understand and I endeavor to make certain that my clients always get the best deal. That means that I leverage my knowledge of the local real estate market to enable my clients to take advantage of the best possible timing to make their deal and that I bring to the table the negotiating skills that I have developed over many years as a broker.

Above all other things, I find inspiration in helping my clients. As this testimonial reveals, I do everything I can to give my clients the best possible experience and the best possible investment.

“We had a fantastic experience working with you. We’ve never felt any pressure at any time and your experience and in-depth knowledge of the building as well as the local real estate market, made us believers. We couldn’t be happier at Turnberry Ocean Colony. You’ve been a pleasure to work with and a bright spot during this delightful process.”
-Evan Y.

Miami condos for sale

Is the condo market in Miami saturated? In January of this year, over 10,000 condos were actively listed in the Miami metro area. The spike in listings was reported back in January, by the Miami Association of Realtors. Analysts have noted that buyers have gained steam, as well as listings, though. So, is the market actually saturated, or are we seeing a spike that will even out as more buyers purchase these listed condos? (CLICK HERE to view all currently available condos for sale in Miami)

Currently, as the economy has stabilized and developers have gained confidence in the market’s future, there’s more competition than there has been in the last few years. Not only are condo owners putting their units up for resale, but there are more new construction and pre-construction units for sale on the Miami market than there has been since before the housing crisis in 2008.

Not the “Glut” You’re Thinking Of

The term “glut” is on the tips of a lot of tongues in the real estate world in Miami right now, but it’s not because of a lack of demand for properties. It’s because buyers are being given so many more choices than they’ve had in over six years. The upshot of this is that different buyers, representing different markets, will be attracted to different properties and different features.

Buyers from South America tend to be attracted to the newly constructed condo towers, with their new styles, amenities, and features. Long-time Miami residents may be more attracted to a neighborhood with the best schools or to a place near a park where they grew up. These are just two examples of the different types of buyer pushback you’ll see with this very unique type of condo market glut. However, according to the market stats, there’s nothing to worry about. The first quarter of the fiscal year is a very popular, “in season”, time of year for the housing market in Miami. This is the time of year that potential buyers traveling to the city on vacation so that they can check out new constructions, condos for resale, and neighborhoods where they might want to live. The large inventory of condos for sale during the height of the season is nothing to be worried about.

Resale Prices Are Up

In January of this year, Miami-Dade County showed significant gains in both condo sales and sales of single-family homes. (CLICK HERE to view all currently available condos for sale in Miami) This went against the plateau that the rest of the country was seeing at the time. While there may have been a lot of condos listed on the market, there were also a lot of condos being closed on. In fact, there were significantly more than were selling in January of 2013.

At the same time, the median for condo prices rose by about 20 percent this past January, and single-family homes rose by 16 percent. That means that, though at first glance the market looks saturated, that’s just simply not the case. Though a lot of developers and individuals are listing their properties, a lot of buyers are interested in those properties.

The trend is up in Miami condo prices and property values, and it doesn’t look to be going back down any time soon.

Miami real estate

New York City’s financial district is moving to Miami. With the appeal of lower taxes, cost of living, gorgeous weather, beaches, and a number of other advantages that south Florida has over the icy Northeast, it’s no wonder that Miami is booming with finance and business.

It’s no accident that Miami has become the second largest financial hub in the United States, right behind Manhattan. The city has a very finance-friendly atmosphere, and the Miami Downtown Development Authority is working hard to attract more bankers and business people. The Authority has even launched the DWNTWN campaign to attract more finance business to the city.

More and more investors, bankers, and financiers are moving to Miami, and not just the little guys, either. Founder of Universa Investments, Mark Spitznagel has moved his business south, stating that Miami provides the perfect environment for Universa to expand and thrive. Spitznagel isn’t the only one, either. Rumor has it that Leon Black and Lloyd Blankfein have also recently purchased condos in the Miami area.

So what sets Miami apart from anywhere else in the world? Let’s take a closer look at some of the city’s many attributes.

Lower Taxes Mean Better Profits

Florida doesn’t have any capital gains taxes, individual income taxes, or estate taxes. That means, when you do business in Florida, you keep more of the money that you earn. When hedge funds are based in Florida, they can expect to pay a significantly lower tax rate, as they’ll only have to pay the federal government, rather than both state and federal, in these areas.

More Space to Stretch Out

Everyone knows that real estate prices in New York City are at a premium everywhere you go. People who, anywhere else in the country, would be able to afford to live in a full-sized house with a yard, cram themselves into shoebox apartments with multiple roommates. In Miami, investors and business people can afford spacious condos or houses (view Miami condos for sale here) that are close to both work and play. In addition to this, Miami’s cost of living is a full 10 percent lower than the cost of living in New York.

Don’t Forget the Weather

While everyone on Wall Street is bundled up in layers upon layers for six months out of the year, in southern Florida, the weather is almost always sunny and perfect. The average temperature for the area, all year round, is a balmy and comfortable 76 degrees Fahrenheit.

Luxury Galore to Impress Clients and Investors

If you’re looking for a place to take your clients and investors to impress them, you’ll have all kinds of options. Miami is packed with the hottest nightclubs in the country and the best five-star restaurants in the world. Better yet, the city boasts the largest port in the world.

October through March is the prime season for yacht parties, charities, and benefits. When you entertain your guests and investors, you can take them away from their winter woes and out on a luxurious cruise with a warm wind in their faces. Your clients and investors won’t ever want to go home. Chances are, they’ll want to move to Miami, too.

To view all currently available properties in Miami please CLICK HERE

Miami commercial real estate

Miami’s luxury real estate comeback continues to be the “phenomenon story” in the world of residential real estate as the inventory keeps shrinking and the prices keep rising. Condominiums remained among the most popular properties in the area. In many cases, these condominium statistics – which are rather promising – are being driven by cash purchases from foreign investors eager to get in on the Miami real estate market and, of course, to enjoy what Florida has to offer as a place to call home.

Promising Numbers

In 2007, buyers pulled out of approximately 10,000 condominiums. While that might’ve been rather terrifying news, particularly at the time it was happening, a full 95% of the 23,000 condominium units that were built during the last condominium real estate boom have now sold. People may have been pulling out at one time, but there certainly not anymore. Putting these two numbers together illustrates just how far the real estate market has come, in recent years.

Big Numbers

It’s certainly no secret that Miami is home to many affluent people and, by looking at the numbers associated with real estate, it’s sometimes possible to drive that point home. According to the reporting, two side-by-side penthouse units located at the development Edition Miami Residences sold for $34 million each. This is still the largest real estate condo deal in Miami-Dade County history, according to Forbes.

Despite that being the largest deal, that is not the largest price. Palazzo D’Oro, a penthouse located at Mansions at Acqualina, is listed for $55 million, the most expensive condominium property in all of Miami. Where prices are concerned, a preconstruction oceanfront condominium in Miami-Dade County will typically start at about $1200 to $1500 per square foot.

Construction Is Moving Forward

The numbers also reveal that construction is still underway in the Miami-Dade area. There are 6200 residential units that have been proposed for the downtown Miami area. There are also 3036 residential units being constructed in downtown Miami already. Of course, for investors looking to get into the Miami-Dade real estate market, these constitute great buying opportunities.

Go Big

The new construction now days offers some of the tallest and most luxurious condos in the world. Panorama Tower downtown Miami will be the tallest building in Florida. It is projected to rise 830 feet over Brickell Avenue. Miami, of course, is no stranger to tall towers and some of the best luxury properties happen to be located in them, but this will definitely take things to another level.

Constant interest from affluent individuals abroad and individuals within the United States have brought real estate in South Florida to the new levels both in luxury and price per square foot. Not only it is selling, there is construction going on to make certain that there is enough inventory to satisfy future need.

Content published by Lana Bell

Content published by Lana Bell