The Murano at Portofino

located at 1000 South Pointe Dr. in Miami Beach, offers stunning Bay frontage. It is located in the renowned South of Fifth real estate area on the southern tip of the western side of Miami Beach and is surrounded by the Atlantic and Biscayne Bay. Residents have the best of both worlds in that they can enjoy the dynamic atmosphere of Miami Beach while also having the option of escaping to their own private enclave.

You can take advantage of panoramic views of the ocean, the bay and most magnificent Fisher Island condos. The Murano at Portofino includes three towers that provide a variety of residences depending on your unique needs. Whether you are in search for a 1, 2 or 3 bedroom or a townhouse, you will find luxurious options that offer the greatest amount of comfort and style.

From the outside, the Murano at Portofino is a stunning 3-level, curved glass structure that includes Italian glass. Residents have access to their own private beach club, saltwater pool, and superb restaurant. The state-of-the-art spa includes cardiovascular and weight training machines. Each unit includes floor-to-ceiling windows and, depending on which condo you choose, you will have views of one or more of the following: downtown Miami, the Atlantic Ocean, Biscayne Bay, and/or the Miami Harbor. Other amenities include lit tennis courts, concierge services, 24-hour security, covered and secure parking, valet service, and elevators that take residents to private foyers in towers one and two.

Residents of Murano at Portofino Miami Beach

live in luxury with 10’ ceilings, wrap-around oversized balconies, floor-to-ceiling glass doors with tinted glass, Kohler appliances, private whirlpools, granite countertops, and so much more. The icing on the cake is the 600’ beachfront that offers stunning views of the Biscayne Bay. Come see for yourself why everyone is raving about the Murano at Portofino condominiums.

South Beach Real Estate

offers luxury living at its finest. Since 2002, select residents have taken advantage of all that the Continuum South Tower condos have to offer. In 2006, the Continuum North Tower was constructed to meet the high demand of buyers interested in living in the lap of luxury. These oceanfront properties offer unparalleled amenities and features that will make comfort and elegance a daily part of your life.

The Continuum South Tower Condo

is located on 1,000 linear feet of stunning ocean beachfront and includes 12 acres of beautifully landscaped gardens, fountains and pools. Residents enjoy a rooftop pool, a smoothie and snack bar, aerobics room, private treatment rooms, heated whirlpools, a cold plunge, the Sporting Club, a private spa and fitness center, a private tennis club with three courts that are surrounded by palm trees, and much more.

When you enter the Continuum North Tower condo

you will be greeted by a luxurious and expansive lobby that includes Venetian Plaster walls, state-of-the-art lighting, and elegant furnishing. The white sand beaches on the Biscayne Bay will be right at your door.

Both Continuum properties allow residents easy access to the gourmet restaurants, special events, and dynamic nightlife in Miami Beach. Whenever you feel ready to escape the city and enjoy an oasis of pure tranquility, your home at Continuum will be waiting for you.

Both north and south towers at the Continuum feature 10’ ceilings and floor-to-ceiling sliding glass doors that lead out to oversized private balconies. Master baths include a whirlpool tub and designer fixtures. All other rooms have been designed for maximum comfort and sophistication. To get the full sense of all that the Continuum condos have to offer, pay a visit. You will have the opportunity to choose a customized floor plan that best suits your lifestyle and your unique needs.

The Capri South Beach Condo

is a new residential development located directly on the bay. It is a very exclusive, private, boutique style brand new building in Miami Beach with only 72 residences. Each of the units has been designed with even the smallest details in mind. Residents enjoy a private oasis that allows easy access to all of the excitement of South Florida while providing a relaxing private space to unwind at the end of the day. With the multiple luxury amenities offered at Capri Miami Beach condos, residents have all of the comforts they could ask for right at their fingertips. If you are ready to enter a world of refined living, a condo at Capri South Beach is waiting for you.

The 14-story Capri South Beach condo was designed by the award winning architect Kobi Karp and was built in 2008. On offer are 1, 2 and 3 bedroom units from 825’ to 2,575’. Buyers have the opportunity to choose from 16 unique floor plans. Each unit features Travertine flooring throughout, state-of-the-art appliances including Subzero and Wolf, stainless steel dual-compartment kitchen sinks, a built-in refrigerator, built-in European customized closets, glass walled rain showers, cable television, washer and dryer, high-speed Internet, and much more.

Select Capri Miami Beach Condos

include oversized terraces, floor to ceiling windows, a water closet and bidet, an oversized soaking tub, and summer kitchens. Penthouses include rooftop terraces with Jacuzzis and summer kitchens.

Capri Miami

residents will enjoy the expansive offering of luxury property features that include a state-of-the-art fitness center, a private spa facility, a pool and Jacuzzi with attendants, elegant tropical landscaping, courtyards, a private marina, docks and walks along the Biscayne Bay, on-site dining, in-room dining, 24-hour security, 24-hour valet, 24-hour concierge services, dry-cleaning services, and an underground parking area. Privilege and the utmost in sophistication can be yours when you make Capri South Beach your home.

Being a broker of Sunny Realty and providing one of the most used resource for Miami real estate (http://www.sunnyislesmiamirealestate.com/) I’m often asked: “how’s (Miami) real estate these day?”. Unfortunately I can’t just answer this question simply – “good” or “great” or “better”. When I start to explain that Miami basically has the best and worst real estate in the country, people think I’ve gone nuts and trying to sell them a story. However, here is The New York Post recent article By ANDY WANG.

Summer was hardly a vacation for those in the business of selling Miami condos.

“I didnt go to St. Tropez because of this”, says developer Gil Dezer, whose Sunny Isles Beach condo projects include the 384-unit Trump Royale and the three-building, 813-unit Trump Towers.
Dezer reports that he sold more than $100 million in Trump units during June, July and August ($50 million alone in August, including a $29 million, 34-unit bulk deal). He has closed more than $1 billion in Trump condos overall and has only about 75 units left.

Recent Trump Towers Condos sales

have been priced at about $525 per square foot. Thats significantly less than the $1,000-per-square-foot contracts buyers walked away from in 2009 after the financial crisis hit, but Dezer, whos paid off the construction loans for all four buildings, seems satisfied. (Donald Trump participated in a ceremonial Trump Royale condo mortgage-burning ritual, lighting the document on fire himself, in January.) The downturn made the job challenging, Dezer says. Every day was a battle. But when youre winning, its fun.

Winning could also be used to describe the situation at Icon Brickell. That nearly 1,800-unit downtown colossus, built by the Related Group with designs by Philippe Starck, seemed to be in peril not long ago, and two of its three towers were deeded back to its lenders in May 2010. But Icon Brickell Condos now nearly sold out, with more than 1,500 units closing for a total of more than $700 million. When you factor in units in contract, only about 30 condos remain.

I think the market has consumed the inventory in a much more rapid way than I and probably everybody thought, says Related Group chairman and CEO Jorge Perez, who adds that most buyers have been foreign. The Latin American economy has been strong.

The forecast was that we would sell all the units in three years at an average price of $350 per square foot, says Edgardo Defortuna, president of Fortune International Realty, which started selling Icon Brickell apartments in June 2010.

Less than a year and half later, Fortune is almost done and seeing prices at about $400 per square foot.

Demand has been so strong that Perez is now building another downtown development. The 192-unit MyBrickell is a couple years away from completion, but Relateds received over 60 reservations for condos before officially launching sales. Unlike Icon Brickell, MyBrickell isnt on the water, and Perez is passing on the cheaper construction costs and the deal we got on the land to offer units, with interiors by Karim Rashid, for about $300 per square foot.

Defortuna, meanwhile, is now selling downtowns Paramount Bay, a 346-unit building resurrected out of foreclosure by owners iStar Residential and ST Residential. Musician Lenny Kravitzs Kravitz Design firm is working on the building, where prices are about $400 per square foot.

South Beach real estate

with significantly pricier properties, is seeing lots of action, too. The summer was uncharacteristically busy, says Lana Bell, president of Sunny Realty, which has an office in South Beach and Sunny Isles Beach. We certainly didnt take a vacation.

According to Sunny Realty latest Miami market report, South Beach condos sold for an average of $515 per square foot during the third quarter. But this factors in distressed properties, including units bought out of foreclosure.

At the markets top end, the W South Beach Hotel & Residences has closed about $260 million in condos at an average of $1,700-plus per square foot, developer David Edelstein says. The W South Beach sold more than $50 million during the summer. One penthouse went for $7.7 million, north of $3,000 per square foot, Edelstein says.

As with much of Miami, foreign buyers have been key at the W. (Douglas Elliman translated its market report into Spanish and Portuguese to spur international interest.) From May through September, about 65 percent of Edelsteins purchasers were foreign, and about half of those were from Brazil.

The allure of the W has helped nearby condo buildings lure in buyers, including those from New York.

Fashion designer Irina Shabayeva, who won season six of Project Runway, owns a one-bedroom with a balcony at the 52-unit Boulan South Beach development just south of the W, but on the other side of Collins Avenue.

I like the Boulan because it was so new, really fresh and modern, says Shabayeva, who primarily lives in the East Village. And its across the street from the beach and the W.

Shabayeva says she enjoys the New Yorker-friendly amenities at the W, which include a Warren Tricomi salon and a Mr. Chow restaurant. And Edelstein says that the Dutch, an outpost of Andrew Carmellinis SoHo restaurant, will open in the W by Thanksgiving.

Boulan, which has sold 22 condos and has one-bedrooms on the market for upward of $600 per square foot, is busy filling its own retail spaces, as well. An art gallery should open in time for Decembers Art Basel festival. A Mexican/Asian fusion restaurant and a nightclub are also in the works.

Neighborhoods all over Miami are getting big residential and retail makeovers. The 56-acre Midtown Miami developments second phase, which will start next year, will include a boutique hotel, a movie theater and 100,000 square feet of retail.

Well definitely have a fashion component, says developer Jack Cayre.

And the nearby Design District is getting a Louis Vuitton store.

There was probably a point in time here someone said, Whats Chelsea? or Whats Meatpacking? and eventually, they became a place because New York was ready to have another place, says Greg Masin, senior director at commercial real estate firm Cushman & Wakefield. When we look at the Design District and at Midtown, what we see is the evolution of the next place in Miami.

Plus, the downtown Metropolitan Miami developments third phase will include rental apartments and a Whole Foods Market. Plans for downtowns eight-block Miami Worldcenter site include residences, restaurants and retailers. And the Genting Group, an Asian casino operator, has unveiled plans for its $3.8 billion Resorts World Miami mixed-use complex. But the scope of the latter two projects will depend on approval for casino gaming, something thats the object of much speculation and uncertainty all over Miami.

Dezer says he has been talking to major Las Vegas casino operators about land he owns in Sunny Isles (13/ acres on the beach and 6/ acres directly across the street that hits the intracoastal waterway) that could accommodate a gaming resort with more than 2,000 rooms and 3 million square feet.

They’re both good real estate, Masin says of the Genting and Dezer sites. If they both had a casino, theyd both be successful.

Whatever happens, Dezer has options.

We originally bought [the land] to build condos, he says. We could build five condo buildings.

That idea would have seemed ridiculous in 2009, but now its more plausible.

Defortuna has sold out the 256-unit Jade Beach condo building in Sunny Isles Beach and has just three apartments left (for about $700 per square foot) at its 252-unit Jade Ocean sister property.

In terms of quality inventory, oceanfront, he says, you can make a strong argument that you need to start building now.

Originally published by ANDY WANG.

(c) 2011 The New York Post. Provided by ProQuest LLC. All rights Reserved.

The Icon Miami Beach condos

is located on the southern tip of South Beach a.k.a. SoFi and offers a contemporary living experience for renters and buyers alike. With the market at a prime time for purchasing real estate, a growing number of investors are placing their focus on luxury condominiums in South Beach Florida, Icon South Beach stands out as an ideal investment opportunity that provides the utmost in elegant living.

Icon South Beach condos

provide the gateway to South Beach’s South of Fifth Neighborhood, a highly sought after location known the world over for its white sand beaches and luxury living. This area is one of the most desirable neighborhoods in Miami Beach and allows residents to escape from the hustle and bustle of the city. If you enjoy the exciting nightlife, exquisite dining, and many activities offered in Miami Beach but would also appreciate a luxurious oasis to escape in order to rejuvenate yourself, the Icon South Beach condominiums provide an ideal solution.

Amenities at the Icon South Beach

include a heated Infinity Edge pool, a state-of-the-art fitness center and spa, on-site concierge, a café, media room, billiards room, 24-hour valet, tennis court, laundry and dry cleaning services, housekeeping services, and more. There are nine Icon Miami Beach floor plans to choose from. Depending on your unique style, you can select from four Philippe Starke palates. These palates include:

· Classic. French limestone and dark woods
· Nature. Natural stone and woods
· Minimal. Neutral tones and streamlined features
· Culture. Artistic layout for a more eccentric look

Other features include walk-in closets, ocean or bay views, Miele appliances, granite or marble countertops, European cabinetry, marble flooring, and hurricane resistant glass. No matter what floor plan you opt for at the Icon South Beach, you will enjoy unmatched style and comfort year round and will be within minutes of all of the excitement that Miami Beach has to offer.

As a professional real estate broker in Miami

I have to deal with clients who are interested in renting and since Miami is a seasonal resort town, there are always people interested in renting short and long term. This is especially true this year as the number of people interested in renting an apartment in Miami have doubled.

Great article was published today in Miami Herald. You can read it below or click the link to read it at Miami Herald: http://www.miamiherald.com/2011/10/21/2464773_p2/south-florida-rents-rise-as-international.html

With continued investment fueled largely by foreign buyers, demand for Miami apartments is growing, meaning increasing residential rents, according to the Miami Herald. “I talk to a couple of investors all over South America and they tell me they buy Miami condos and it takes them about a week to rent them. “Each and every month, the rents are going up.” According to data from the Texas-based MPF Research, rent prices have gone up by between 3 and 7 percent this year. And with a steady stream of foreclosures on the way, the rental trend is likely here to stay.

With occupancy rates in Miami as well as South Florida above 95 percent and the rent prices risen between 3 and 7 percent, at least 160,000 homeowners either in foreclosure or so far behind on payments that an eventual foreclosure appears inevitable, the region’s rental market is likely to see growing ranks of new renters for the foreseeable future. As a result, more so-called “vulture investors� will seek hefty profits by buying up distressed property and converting them to rentals.

“We bought a two-bedroom in Kendall in May for $50,000. We invested $10,000 in repairs, and then rented the unit for $1,200 [a month],� Leon de Vega, a South American real estate investor. “We just closed the sale of the unit for $95,000.�

In addition to the rising Miami rentals market, international investors are drawn to South Florida real estate because the U.S. offers greater legal protection for foreign land owners than many other countries, and because some homeownership can make it easier to obtain a U.S. visa.

Growing investor appetite is driving sales for Miami luxury condos and waterfront single-family homes in Miami back to the boom time levels of 2005 and 2006. In Miami-Dade County, for example, total sales are expected to reach 29,000 this year, more than 2005’s total.

Despite the recent value declines homeowners have experienced during the recession, homeownership has proved a smart investment over the last several decades, with home values rising about 5.4 percent annually on average. The growing crop of renters is not able to benefit from that investment.

Additionally, the idea of saving money as a renter so that you can put together a down payment in the future is not viable for many cash-strapped South Floridians trapped between high rental rates and low wages.

Apogee Miami is one of my favorite

buildings. Apogee Condo rests on a 2.88 acre site that includes a state-of-the-art spa, an Infinity Edge pool in a garden setting, fitness rooms, lobby and common areas designed by renowned designer Yabu Pushelberg, and a party pavilion. Buyers have a choice of units ranging from 3,000 square feet to 4,200 square feet. Each unit has 10 foot ceilings, 11 foot wide balconies, a summer kitchen that includes outdoor cooking features, a midnight kitchen located in the master bedroom that includes a sink, refrigerator and bar, gas fireplaces in both the living room and master bedroom, a private two-car garage, a wireless system that allows for customized lighting schemes, and many other innovative features. Buyers have the opportunity to further upgrade their units to include unique features that will enhance their experience in their personalized Apogee Condo unit.

South Beach real estate

also known as SoBe real estate, is a popular neighborhood in Miami Beach, Florida. For those hoping to relocate to the area, Apogee Condos offer luxury living and an ideal spot on the shores of South Beach. Designed by Sieger Suarez Architectural Partnership, buyers have an opportunity to choose from a variety of customized units. With only four units per floor and only 68 units in total as well as a private elevator to each unit, residents will be able to enjoy a sense of privacy.

South Beach condos

are highly coveted for its ocean front location, beautiful beaches, superb variety of dining experiences, nightlife, and its unique arts and culture. Parents will appreciate the choice of schools including public and private schools, high schools, colleges and universities. There is something for everyone in South Beach where the weather is usually sunny and warm all year long. All of the excitement and relaxation of living in SoBe can be accessed year round by residences of Apogee Condos.

As of today, there are only two condos available for sale in Apogee – unit 501 and unit 603. These two units offer the two different floor plan layouts available in Apogee. Unit 501 is 4,154 sq.ft. and is the corner unit, asking price is $6,150,000. Unit 603 is 3,103 sq.ft. and offers through layout, asking price is $7,199,000. Also, there is only one unit currently available for rent – unit 1602 at $21,500 per month. During the past two years, as everyone knows, the real estate market has been depressed, however, condos in the Apogee have been on the steady climb. As a result, average price per square foot paid in 2010 was $1,287. Average price per square foot paid in 2011 is $1,710. These numbers are presented by Sunny Realty leading sales team in South Beach and presents an average of all recorded sales in the MLS – Multiple Listings Service.

For more information on Apogee Condos For Sale please call Lana Bell – 1.954.336.1016

How’s Miami real estate prices per square foot compare to the rest of world?

Some economists and journalists may still say that Miami real estate is overpriced, but the truth of the matter is that the prices for real estate in Miami are way less expensive that the rest of the world.

The chart above was compiled by credit management system Credit Sesame and shows price per square foot in major cities all over the world. At an average of $1,068 per square foot, Manhattan homes seems cheap compared to Paris, which costs an average of $3,287 per square foot for a residence, according to Credit Sesame’s data.

Also more expensive than Manhattan are cities such as Oslo, Luxembourg, London, Hong Kong and Beirut. Living in Houston, Texas is much more affordable than living in Al Kut, Iraq, $54 per square foot compared to $262 per square foot respectively.

Miami homes for sale

comes in at an average of $182 per square foot, which is really cheap in comparison to Europe, South Africa, Russia and even Poland.

What makes real estate in Miami more attractive?

Buyers have always been attracted to the properties in Miami and South Florida as a result of the natural beauty of living right on the shores of the ocean as well as the close proximity to so many prestigious shops and dining venues. Combine this with the 21st century modern ultra-luxury construction on the ocean and one of the most sophisticated metropolitan cultural living and you will have an idea of what Miami has to offer. The truth of the matter is that this season is going to be one of the best times in recent history to make a purchase in Miami Beach which is most sought after area as a result of the number of bargains coming onto the market.

This trend is also backed by the amount of individuals who have long enjoyed renting properties in Miami in order to escape the icy winters up north and European travelers will now have the opportunity to enjoy even more about living in Miami. Currently Miami offers wide variety of properties available for sale and rent to prospective buyers who are looking to improve their life style and enjoy the warm weather and vibrant night life that Miami has to offer.

Buyers who are looking for a bargain will find that they will be able to purchase a far more luxurious property than they can in their country or city. Miami style residences typically offer larger square footage, great amount of amenities, convenience and magnificent ocean or bay views. Whether you plan to bring family with you, you are enjoying the single life or it is just the two of you, you will certainly be able to find an opulent residence that will suit your needs superbly.

There has never been a better time to consider investing into some of the most prestigious and sought after real estate in world – a Miami residence. For lower prices than you might have ever dreamed, you can now own an opulent residence with top-notch amenities including your own gym, spa, pool, 24-hour concierge, valet parking, on-site cafe, and much more located right on the ocean.

For more information please contact Lana Bell – expert Miami investments realtor today – 1.954.336.1016

South Florida real estate

news has been pointing to positive trends over the past two quarters. But, which areas are ripe for investment or purchase? When is the right time to buy? And, what types of properties are likely to see the best return on investment? While no one can precisely predict the future for the real estate market in Miami, certain trends and predictors do point to when properties should be bought or sold.

While a number of areas show promise for future property values, recent interest has shifted to North Miami Beach and Palm Beach areas. A condominium project shelved by Kolter Group, LLC during the recent economic downturn has recently seen some revitalization. A competitor recently made a bold move, potentially influencing Kolter’s decision to counter with a bold move of their own.

Related Group recently announced plans to construct a 506 unit, dual tower condominium project in the north end of West Palm Beach. Shortly following the Related Group’s announcement was news from Kolter that their North Palm Beach condo project was back underway.

Currently, the Kolter project is estimated to break ground in the fall of 2012, offering additional condo units and reduced pricing than the original plans. Unit pricing is expected to fall between $600,000 and $1.5 million, reduced from the original layout, which called exclusively for luxury units each priced in excess of $1 million. To recapture some of the expected losses due to the pricing reduction, the developer has reconfigured the space to include more units than the original plans called for. The project’s completion date is currently estimated to fall within the 2014 calendar year.
Whether the recent positive trends in the real estate market, or the announcement of a competitor’s project prompted the response from Kolter to re-engage plans to construct these luxury condos, the surrounding areas are excited to see renewed interest in development in general. Not only will these two projects offer additional housing opportunities for residents and investors to capitalize upon, but they will create much needed jobs for the area, fueling other economic sectors in the South Florida marketplace.

Both the Kolter and Related Group projects will feature luxury amenities, great condo views and strong pricing opportunities in which can be taken advantage of. While pre-construction plans and pricing have yet to be announced, interested parties should follow the news associated with each property so they can get in at the best prices possible. This advice is particularly true, as the speed of the market’s recovery in terms of property values is still anyone’s guess.

Similarly, there are several project on the way in Sunny Isles Beach. One of those new projects will be called The Porsche, located in the heart of Sunny Isles Beach and will be the new ultra luxury high-rise with 1 unit per floor, allowing you to even park your own car in your apartment. Stay tuned for more information as we’ll be blogging about new projects all over South Florida.

The 3rd largest casino company (Genting Malaysia Berhad) in Asia just purchased 13.9 acres of waterfront land owned by the Miami Herald, for $236 million. The property stretches from Biscayne Boulevard to Biscayne Bay. This landmark deal will reshape the surrounding downtown area, bringing more life and vitality to an already booming portion of the city.

In a public statement, the Herald publisher noted that while their operations have thrived in this area for a number of years, the space was no longer conducive to ongoing operations. The $236 million land/property deal was also in part prompted by The Herald’s need to bolster funds, specifically to address funding needs of the organization’s pension plan, to repay some company debts and to address taxes. The newspaper’s executives have provided additional assurances that this sale will in no way interrupt their normal course of business.

The Genting group estimates the total construction project cost to be between $2-5 billion, which will not only boost the local economy, but will result in the creation of numerous jobs. The current plans for the property include a hotel, retail shopping, high rise Miami residences and a convention center.

“This deal has generated a great deal of excitement within the Miami real estate community, as it is at or near to the highest price paid per acre in Dade history,� said Lana Bell of Sunny Realty. “A deal of this magnitude will create tremendous opportunity for not only local residents and businesses, but for the surrounding property market.�

Many local Miami real estate experts

feel that this deal serves as an endorsement for Miami. Asian developers chose the area not only due to the opportunity and price point, but the potential to draw international and domestic tourists, a strong revenue source for any project of this type.
“Successful real estate transactions such as this merely validate the strength of the South Florida real estate market. While this deal is certainly the largest to come our way in some time, it is surely a sign of what is to follow. South Florida is hungry for Miami luxury residential developments, both for current area renters as well as international visitors,� said Lana Bell, of Sunny Realty.

While the deal has been closed, construction isn’t expected to commence for 2 years, which corresponds to the allotted time frame provided to The Herald for relocation. The newspaper is currently searching for property within the area, although they may divide the printing and publication portions of their organization should the right space not be found to accommodate both.

From every angle, this landmark deal serves as a positive sign for Miami’s real estate market.