The Sunny Isles Beach

site that featured oceanfront property has recently been purchased by Edgardo De Fortuna – owner and founder of Fortune International. The site will be used to build a new luxury Sunny Isles oceanfront condo, but the company that deal with the foreclosure of the Paramount Bay Condo has now acquired the 2.2-acre site. The stunning lot located in Boca Raton was won after the loan was sold to Sunny Isles Property Holdings. Carlos Mattos of the Hyundai Colombia Automotriz seized the property and then sold it to the affiliate for $22 million.

Sunny Isles Beach real estate

is associated with luxury ocean front developments, several of which were built by Fortune International. However, this marks a significant real estate purchase for the company. Acquiring this 2.2-acre oceanfront property is a significant shift in the real estate landscape in the area. While it is not known exactly how the property will be used, there are many excellent options that Fortune International can use to leverage the property.

The speculation surrounding the multi-million dollar purchase of property by Fortune International has sparked conversation about whether the housing market is in recovery. Since many figures have pointed to an improving housing market, it is no surprise that a property this desirable has changed hands. Led by Edgardo De Fortuna, Fortune International has been responsible for creating condominiums on Jade Beach and the Jade Ocean Condos. If they continue down the same path, they may decide to build luxury condominiums on the gorgeous piece of property.

With business markets rebounding significantly and housing markets right behind them, optimism and confidence seem to be the pervasive emotions surrounding the state of the economy. While economists state that there is still far to go until Americans experience a full, complete recovery, the improvement in housing market statistics, business sales, the unemployment rate, and job creation is very promising.

With the acquisition of this property, Fortune International will be able to begin building on the stunning Sunny Isles condo to create luxurious oceanfront condominiums or any number of other commercial properties. With the housing market in recovery, Edgardo De Fortuna has taken advantage of the low housing and interest rates and purchased a wonderful oceanfront property in Sunny Isles.

From 2005 to 2009, there was a “boom” for Miami real estate

This led to the construction and sales of thousands of luxury condominiums in the best areas of the city and region. After the arrival of the different global financial problems, however, the Miami markets experienced the same sharp declines as many other areas of the globe.

Today, on the other hand, the Miami condo market is showing more than just some small signs of recovery. In fact, a recent report on sales showed that there was a 36% increase in sales prices over the course of the past year. Additionally, median single family homes also jumped by 13% during the same time span.

What’s going on with luxury Miami condos?

This entire area has attracted a lot of interest from international buyers who are hoping to enjoy an opportunity for nabbing a bargain property. The history behind the Miami condominium industry makes it easy to understand this current wave of investment. For instance, there were periods in which builders constructed massive properties with thousands of condos being made available at once. These homes demanded “top dollar,” and were used as homes, rental properties, or vacation homes.

When the downturn in the real estate market occurred, there was also a slowdown in sales and construction. The market soon adjusted to a far more measured pace. This created the famous “supply and demand” scenario that limited the number of condominiums available and allowed builders to weather the storm.

Today, financial markets are recovering and buyers are actively seeking to acquire some of the best condominiums at the most reasonable prices. Experts all agree that the Miami prices have already “bottomed out” and that now is the very last time that the cost of a condominium will be considered a “bargain”. This can be seen by the sharp jump in average prices and by the fact that most of the preconstruction condominiums in the region have nearly sold out.

Recent news stories and reports show that there are very few remaining condominiums available (less than 5% of the boom era homes are unsold) and that most of the preconstruction projects are selling rapidly. Additionally, it is known that condominium inventory declined by around 37% during 2011, and this too is one of the reasons behind increases in the average cost.
What this means is that now is the last chance to find a bargain in terms of Miami condominium properties.

If you want some proof that the Miami area real estate market is recovering quickly and strongly, you will want to turn attention to the Mansions at Acqualina property. It is a pet project of developers Jules and Eddie Trump, and it is a very accurate illustration of the “measured sales” model that has helped to restore and even reshape how Miami condominium sales work.

What does that mean? Well, this project is still in the preconstruction stages, and yet the builders have already managed to sell more than half of the luxury units. The price tag for one of the homes starts at five million dollars and goes up from there, but the scale of the building, the amenities and the general “tone” of the property have been chosen to make it an optimal choice.

Unlike the “boom” era properties that had thousands of units packed into clusters of tall buildings, the builders of this sort of property have come to understand that a measured approach is more appealing to the current market. Buyers in all of the available properties are responding to facilities with far fewer condominiums, and with alternative options such as exclusive parking garages or unique locations.

The Mansions at Acqualina

has only 79 homes in the waterfront building, plus a massive penthouse property that takes up the entire top floor. The facility is still in the planning and preconstruction stages, but the active sales are a good reflection of the kinds of activity in the Miami condominium market in general.

For instance, a recent report indicated that the average sales price of a condo in this market had exceeded one million dollars, and that many international buyers had turned their attention to the area as well. For instance, Canadian and South American buyers seem to be dominating the market in the current era, and this is because many have come to recognize that the prices truly have “bottomed out” and are already beginning to climb upward.

The sales data for the Miami condominium market shows that prices have climbed by roughly 36% since the same time in 2011, and that even single-family homes experienced an increase of 13% in cost. Clearly, this is the proverbial “eleventh hour” for bargain shoppers, but it is also a good time to explore the newest forms of luxury condominiums that are the result of all of the changes created by the unique conditions in this market.

When it comes to luxury oceanfront condo development

“Chateau Group� is a seasoned, veteran developer. Their portfolio includes several prestigious buildings in Buenos Aires and Punta del
Este, as well as a growing land portfolio in South Florida, but now the plan is to build a new ultra-luxury Chateau Beach Residences condominium tower in heart of Sunny Isles Beach and 174th Street, next to Sampson Park. The proposed 33-story Chateau Beach Residences will house 85 private residences ranging in size from 1,500 sq. ft. to more than 9,000 sq. ft., priced between $750 to $800 per sq. ft..

All residences of the Chateau Beach Condo

will offer floor-to-ceiling glass, most amazing panoramic ocean and city views. Some residences will even have two stories with very deep terraces and a private swimming pool. No matter which unit you choose, you will enjoy a unique lifestyle, world-class service and amenities. Some of the amenities are oceanfront fitness center with the latest equipment machines for cardio, weights and pilates. There’s also a spa with a relaxation terrace overlooking the ocean. The wine lounge offers private wine lockers for residences. Additionally, there’s a cigar bar offering humidors boxes and a home theater. The entire property offers full concierge services.

If you’re ready to reserve your unit at the Chateau Beach, the pre-sale is in full progress right now, with already over 25 deposits collected. The expected construction will begin in September 2012, and will take about 2 years.

For additional information and/or to submit your contract, please contact Lana Bell at 954-336-1016 or send an email to info@SunnyRealty.com.

After several years of depressed home sales all over the country, there are finally signs that the recession is on its way out. Of course, it will take some time for home prices to reach the same levels they experienced five or six years ago. The important thing to note, especially for those homebuyers who took a chance in the past year, is that the value of your property is on the mend. All you have to do is take a look around you to see that things are certainly getting better.

Miami real estate Market Is Looking Up

Take, for instance, the condominium sales at Acqualina in Sunny Isles Beach. These are some of the most luxurious ocean front condos in the Miami area, and they draw buyers from all over the world. With top-notch amenities, including swimming pools, fitness centers, beach access, and a full staff, it’s hard to understand why anyone wouldn’t want to live here. For several years, however, the sales of these amazing homes were much lower than usual, simply because buyers were just too afraid to take the leap. With condo sales in Acqualina rising steadily, as numbers from 2011 will show, it’s clear to see that the housing market is turning around.

In addition, the new construction Mansions at Aqualina in Sunny Isles Beach has made a big splash among pre-construction investors. The new, ultra luxurious condo will offer just 79 residences, starting at 4,500 square feet and going up to a wapping 16,000 square one-of-a-kind penthouse. The developer offers selection of high-end finishes so when you buy your unit, you don’t have to worry about the floors, closets, etc. Everything will be completely finished by the developer so all you need to do is sit back, relax and enjoy your new mansion.

The condominium units you’ll find at Mansions at Acqualina

come in several different sizes and floor plans, meaning you’re sure to find something you’ll love. You can be sure that no luxury will be spared during the building and design of the interiors, either. Here is where you will find the most beautiful flooring available, gourmet kitchens with the very best appliances, spa-style bathrooms, and views of the ocean that will steal your breath away. Everyone wants to live here and enjoy the incredible features, but the starting price is $5M plus. If you’re ready to buy, now is the perfect time as you can get it in a pre-construction phase. If you wait too long, you’ll miss out on the lower prices, because these condominium units will go up in price as the development progresses.

How Sales at Acqualina Fared This Year

With total 18 units sold in the Acqualina complex in the last year, it’s easy to see that buyers are ready to make their moves again. These condo units range in price from $1,600,000 to well over $4,000,000. Though one might think the lower-priced units would go first, evidence points to the fact that the multi-million dollar price tags didn’t scare away too many people. In fact, the greater majority of the homes sold went for more than $1,600,000, with a good number of those fetching more than $2,000,000.

Make Your Move Now – place a deposit for newest project in Sunny Isles – Mansions at Acqualina Condo

The new construction condos in Sunny Isles Beach is truly an evidence of a recovering luxury condo market, and it’s a sign that prices are on the mend, too. There is no better time to make your move and secure your new home in the Mansions Aqualina. You can work with our experienced and knowledgeable agents to ensure that you learn all you need to know about condominium living on the beaches of Miami. We’ll also show you that it doesn’t have to be hard to purchase a home, no matter where the market is at the moment. It could be so easy to purchase your new beachfront home. Call today 1.954.336.1016 to talk to our luxury ocean front condo specialist.