Porsche Design Tower to Include Penthouse with Room for 11 Cars

By Sunny Isles Real Estate Expert on June 9th, 2016

Porsche Sunny Isles

It should come as no surprise that the Porsche Design Tower, which should be opening by the end of this year, is going to be a building that features luxury amenity after luxury amenity. Even by South Florida standards, this tower is going to stand out for more than a few reasons. However, it was recently announced that one of those reasons is going to be a penthouse that can store up to 11 cars. No word yet on whether or not they all have to be Porsches though.

An Elevator for Luxury Cars

It probably goes without saying that people who will be living at 18555 Collins Avenue in Sunny Isles Beach won’t be parking on the street when they get home. That doesn’t mean they’ll be pulling their cars into some underground garage though either.
Instead, residents of Porsche Design Tower can drive into an elevator designed to take luxury cars—and their owners—to one of the 132 luxury condos in the building. This patented elevator—called the Dezervator—is named after Gil Dezer, the inventor. It ensures that residents can step out of their condo and into their favorite sports car even if they’re 50 floors above the ground. The elevator in this $560 million tower will have a glass side to it, as well, so you can take in gorgeous views on your way up.

Other Amazing Amenities

The Porsche Design Tower (view website here) is no one-trick-luxury-building either. Though a car for elevators definitely deserves the awe it attracts, the tower will feature a number of other incredible amenities as well.

There will be amazing views of the city and ocean, of course. You can even enjoy them from your balcony plunge pool before retiring to your luxury man cave.

Residents will get to enjoy meals at their own lobby-level restaurant. They can spend time in the game room or enjoy a round in a virtual golf simulator. A movie theater with stadium seating, surround sound and a popcorn bar will be available as well.
There will even be an oceanfront hair salon complete with manicure and pedicure solutions as well as a spa for men and women equipped with a sauna, steam room and snow room.

A Penthouse Unlike Any Other

Porsche Tower Penthouse

The crown jewel of the tower is its penthouse. It will be 16,915 square feet and feature four bedroom-suites and 6.5 baths.
Obviously, that’s enough for a home to stand out, but it doesn’t stop there. The unit also has room for 11 luxury vehicles. You can park four of them in two separate two-stall garages. Then you can keep the other seven in a car gallery. Another option is to store up to three of them in the living room next to your bar and billiard table.

If you have millions to spend, there are currently six units available in the Porsche Design Tower. However, while the penthouse is priced at $32.5 million, the other options are, well, relatively more affordable. All sales are being handled by One Sotheby’s International Realty Sunny Isles Branch, if you’re interested. Call our office at (305) 336-0457.

South Florida Forum and Showcase: Dreams on Display

By Sunny Isles Real Estate Expert on January 4th, 2016

Miami real estate

SoFla is becoming a hotbed of luxury condo projects, hotels, offices, and other mixed-use developments. This is positive growth, but does raise specific challenges for the future, according to developers who presented during the 2nd Annual South Florida Forum and Showcase held by The Real Deal, a real estate publication that monitors the market.

Big names in the real estate development game brought their projects to the forum and participated in panels, discussing the South Florida market at the Moore Building in Miami. The forum and showcase boasted developers like Jeffrey Soffer, Richard LeFrak, Gil Dezer, and Craig Robins, all of whom indicated that they are sticking to their bullish stance on the market. These property hotshots are banking on the popularity of the area, which is a leading tourist and luxury shopping region.

Working Together

LeFrak, who is in the process of developing a $4 billion complex called SoLē Mia Miami, slated to be situated between Northeast 139th and Northeast 151st, had this to say regarding his push to complete major projects: “There are a lot of people who want to come here. Let’s face it — it’s fun.”

SoLē Mia will not only house 4400 residential units but will also offer a dine-in movie theater, an upscale bowling and entertainment venue, and 37 acres of high-end dining, shopping, community parks and recreation, and commercial offices.

LeFrak is teaming up on the project with Turnberry Associates. Turnberry’s co-chair, Jeffrey Soffer, is involved with several other projects as well as SoLē Mia and compared the complex to a city his own father, Don Soffer, developed in the ‘70s, called Aventura. The two view the project as the building of a lifestyle rather than just a neighborhood.

Forum panelists pointed out that each city has its own identity. Dezer, whose family helped redevelop Sunny Isles, said that the city has been called “the Dubai of Miami”. Dezer is the president of Dezer Development. The family firm teamed up with Donald Trump in the construction of six towers in Sunny Isles (see website here). Dezer is also gearing up to finish work on the city’s Porsche Design Tower. In addition, he is partnered with Related Group in the development of Hyde Midtown, on which construction just began.

A New Kind of Neighborhood

Craig Robins – CEO and president of Dacra – began his career with South Beach revitalization efforts, and is now on a mission to transform Miami’s Design District into a prominent luxury dining, shopping, and arts and culture mecca. Thus far there are 20 completed buildings housing flagship luxury retail stores. Robins jumped right into the development of 20 additional buildings, as well as a boutique hotel. 500-1000 units are yet in store, and Robins has a vision for even more residences and hotels.

Michael Simkins, CEO/president of Innovate Development Group, has equally vibrant aspirations for Miami’s future. In regard to his planned nine-tower combination residential/office/retail space, Simkins had this to say: “Our mixed-use development is live-work-play, you don’t need a car…Miami is going to be one of the great metropolises of this century.”

The Future of Condominiums in Miami

By Sunny Isles Real Estate Expert on September 1st, 2015

Porsche Sunny Isles

A couple of decades ago, having a built-in microwave, along with a dishwasher, was the epitome of living in the future when you bought a new condominium. Then came the idea of adding in swimming pools to the roof, and high-tech fitness centers, all of which were welcome additions. However, with all of the wonderful and amazing technology that’s available today, things are changing rapidly in the condo world. Let’s look at one of the premier examples of high-end technology integrating with condos to see just what is in store for people now and in the future.

The Porsche Design Tower Miami

This tower, which is still under construction and is set to open next year, has an ingenious elevator system called the Dezervator, named after the tower’s developer Gil Dezer. This is an elevator the likes of which you’ve never seen, and probably never imagined, before. It doesn’t just take you up to your floor… the glass elevator takes you and your vehicle up to your floor. The elevator then places you and your car in your elevated garage right next to your unit.

Think about just how beneficial this could be. You don’t have to leave your car in a parking garage, hoping that it will be safe. Even though most of the towers in the area have very secure garages, most people still have that little worry in the back of their minds that something could happen to their vehicle. This worry is exacerbated when they have a high-end vehicle. In addition, think about just how much easier it will be to transport everything inside after you’ve gone out shopping. It offers convenience and privacy that you simply won’t find elsewhere, at least for now.

You can be sure that this type of technology will start to make its way into more and more buildings as they go up in Miami, as well as the rest of the world. Instead of “wasting” space on additional parking, or not having parking at all, they can roll everything right into the building. This could mean they can develop more units and make much better use of the space that would have been spent on the parking facility.

Creating this design was not easy though. Dezer had to gather a number of the best elevator specialists on the planet to create this design. They also had to go through a number of different tests and safety certifications to make sure the elevator would work, was fast enough, and was safe enough for people to use. They actually built a test building (nine stories high) in Chicago to make sure that it would be functional when it went into actual use.

The addition of this technology, as well as other new types of tech is good news for buyers. People want to live in homes that are on the cutting edge of technology, and the developers are listening. Who knows what other robotic wonders are waiting for buyers just around the corner!

Forget the Ocean View – Miami Global Buyers Want Designer Labels

By Sunny Isles Real Estate Expert on June 15th, 2015

Armani Casa Sunny Isles

There was once a time when a gorgeous view of the Atlantic was all it took to generate interest and purchases in Miami’s exclusive beachfront skyscraper condos. The stunning beauty and beachside access were hallmarks that enticed many a buyer to decide to hang their hat in a second or third home. However, for the ultra-rich international jet set, the newest selling point is all about labels.

Luxe Designer Labels Are the New Trend

It’s no secret that clothing, jewelry, handbags, and cars that carry labels such as Armani, Porsche, or Fendi are more in-demand and have higher price tags. The new trend in Miami, however, takes those labels to new heights by using them to brand luxury hotels and homes to net greater profits.

While it may seem unlikely that simply adding a designer brand could drive premiums to staggering levels, there is plenty of proof available. Wealthy home buyers from locations such as Argentina, Brazil, China, France, and Russia are snapping up these new digs, and they are spending millions to do it. While many pursue high-dollar purchases to protect their fortunes from the decreasing
values of their currency, the designer logos are also a major factor.

The Proof Is in the Purchases

Even if the idea of haute logos commanding higher prices seems questionable, there is plenty of evidence available that proves otherwise. The following luxury Miami condos feature designer labels and prices to match, but buyers are snapping them.

Porsche Design Tower

This 132-condo location developed by Gil Dezer is scheduled for construction to be completed in 2016. However, it is already almost completely sold out – despite prices ranging from $4 million to $30 billion. The luxury condos inside this glass and concrete piston-shaped marvel feature stunning panoramic views of the Atlantic, but a major draw for some buyers is the three car elevators that take homeowners and their cars directly to their own personal garages.

Juan Pablo Verdiquio, an Argentinian native that moved to Miami and started his own construction business, took “a leap of faith” with his purchase, based solely on his ownership of a Porsche 911 4S. For him, living in a condo with the same name was nothing short of a perfect fit.

Armani Casa

Another designer condo skyscraper from Dezer is the Fendi Chateau. With its location near major boutiques that include Tiffany’s, Gucci, and Chanel, these apartments are also going fast. Verdiquio, who purchased one of the staggering Porsche condos, was shown blueprints of units available at the Armani, which start at $1.5 million. After seeing them, he purchased a unit in that building as well.

Luxury and designer labels are having a major impact on Miami Beach real estate, with prices for the top homes in the area leaping 66% in the past year. At the current rate, and as more of these branded condos emerge, these prices are expected to continue rising as more international buyers flock to the area. This will continue forcing Miami locals farther in-land for more affordable housing.

Sunny Isles Beach – The New Billionaire’s Retreat!

By Sunny Isles Real Estate Expert on December 8th, 2013

Porsche Tower Sunny Isles

The newest Porsche Tower in Sunny Isles Beach is in it’s last sales stages with about $535 million in sales. The $560 million condo attracks the world’s wealthiest – 22 billionaires so far have purchased units in Porsche Tower.

The unique 57-story construction includes 3 car glass elevators which will take owners and their cars directly to their units, spacious duplex units – some are over 17,000 sq.ft., spacious terraces – over 1,600 sq.ft. wich include private swimming pool and kitchen, flow-thru layout and of course direct oceanfront location make this building the new billionaire attraction.

Porsche Tower Sunny Isles

The construction began in April 2013 and the developer was able to secure a large construction loan in October. The project is a combined effort between Gil Dezer, known for all Trump developments in Sunny Isles and Germany’s Porsche Design Group, one of the leading European architectural company.

Porsche Tower Sunny Isles

As of now, over 80% of the 132 total units have been sold out. The price ranges from $4,5 million to over $30 million dollars for the top-floor penthouse. The project completion date is fall of 2016. Please contact our office to reserve your unit or for additional information – (305) 336-0457

Porsche Tower Sunny Isles

Homes in Porsche Tower in Sunny Isles Beach Miami Florida

By Sunny Isles Real Estate Expert on April 20th, 2013

Porsche Tower Sunny Isles Beach

Porsche Tower Condo

Miami is always a popular location, and it is not surprising that Miami real estate market is one of the first to re-establish itself and to begin to really thrive again. All of the data relating to the housing markets of southern Florida show that it is a place that is really booming, and this is why there are many preconstruction housing projects available. However, if you are looking for truly high end living in the area around Miami, you cannot go wrong with the Porsche Tower in Sunny Isles.

This coveted location just outside of Miami has long been one of the most desirable spots for those enjoying the benefits of condo living. The Porsche Design Group is responding to the demands for luxury living in this region by offering homes in their 57 story glass and technological masterpiece.

The Features of Porsche Tower Condo

The Porsche Tower property is going to provide some of the finest views in the area, and will use elegant design and excellent materials to ensure that residents really do get unimpeded views of the Intercoastal Waterway and the surrounding region. Floor to ceiling glass walls and balcony doors ensure uninterrupted views and optimal interior lighting.

The interior spaces are equipped with the finest appliances available, and the spaces are finished with only the best materials. Even the technological aspects of the homes are impressive with pre-wiring for cable and more. The cabinetry is imported and elegant, and the flooring includes imported marble and tile too.

Of course, the most opulent interiors have to be supported by excellent amenities and the Porsche Tower property has some amazingly good features. These include the robotic parking lot that takes you (while still inside your car) to your front door in only ninety seconds. There will also be the large and private grounds that include more than 400 feet of sandy beachfront, lush gardens, and 24 hour security. Access to the property is through discreet gates, and these too are secured around the clock.

Getting Your Home at Porsche Tower

The homes available at Porsche Tower in Sunny Isles are certainly going to be amongst the most opulent and luxurious in the region. They range in size from 3800 to more than 9000 square feet – making them some of the largest luxury condominiums around. They are an ideal option for those in need of a full time home, but work wonderfully as a seasonal property too.

The “trick” is to get into this property now, while homes are still readily available. This building is due to finish construction by 2015. This means that time is growing short and that investing at the preconstruction price is the wisest idea in this competitive market. Currently, pricing on the homes in this gorgeous and impressive structure begin at $3.75 million, but will increase as the project completes and as more buyers step forward to acquire their homes in the building. To get started on a preconstruction purchase, contact our team or give us a call at 305-336-0457.

New Pre-Construction Oceanfront Condo Projects In Sunny Isles Beach

By Sunny Isles Real Estate Expert on March 15th, 2013

Pre-construction Condos Miami

Jade Signature Preconstruction condos for sale

Something new is coming to the Sunny Isles Beach market. Soon, developers plan to begin construction of a new pre construction condos in Sunny Isles Beach. There are 1,200 total proposed new units which include Unique, Porsche Tower, Jade Signature, Regalia, Chateau Beach and Mansions of Acqualina. The pre-construction condos in Sunny Isles Beach comes on the heels of an upswing in the market that seems to be moving away from the market crash that began in 2007.

These new condo projects come from a variety of local investors as well as international professionals. There are 10 different towers in separate proposals. These new buildings will house more than 350 floors of units and they will all be available as beachfront property, either facing the Atlantic or the Intracoastal Waterway. This information has been compiled by the February 2013 preconstruction condo projects list.

Proposals in All of South Florida

Because of the real estate upswing, there are numerous proposals throughout the south Florida area. In fact, there are over 100 total towers proposed throughout areas such as Broward County, Palm Beach, and Miami-Dade. This would add close to 15,000 new condo units to the area.

Developments in the Past

The Sunny Isles Beach area has seen a great deal of growth since 2003. In the past years, 26 different projects have been completed, and they added in a total of 6,350 new units available. The Sunny Isles Beach area has become very popular for new real estate, and before the real estate market crash, a total of 60 different condo projects were completed in the same area.

Selling Out Quickly

Because the new real estate boom has begun selling out condos in the area, new developments have been proposed to offer more real estate. The condos in the proposals will cover a vast range of prices and amenities to suit a wide variety of needs. In fact, as of now, there are only about 2,000 condos available in the Sunny Isles area. International investors continue to back these projects, and this quick sellout has led to the new proposals. Most of the new proposals include plans to complete condo buildings by 2014.

Transactions in Progress

Most of the new condos will go up and be available at various times. The properties are in various stages of transactions, and a transaction does have to be completed before the construction can begin. Some of the new projects could start within the next few months while others won’t actually begin until early 2014.

This is all good news for the Sunny Isles Beach condo market. Anyone who wishes to move to the area will have a variety of choices in the coming months, allowing them to pick the right combination of amenities and prices on beachfront properties. With the recent upswing in the South Florida real estate market, these proposals are expected to be successful in providing a new boom in the area.

Pre-Construction Condominium Properties For Sale In Miami

By Sunny Isles Real Estate Expert on December 14th, 2012

Preconstruction Condos Miami

Bellini Aventura Precosntruction Condo

The Miami preconstruction condo market

is heating up once again and preconstruction condominium properties are always options for people who want to purchase something new in this desirable area. First, we’ll take a look at some of the preconstruction properties available and then give some information on how one goes about getting in on the newest condominium properties in Miami’s market.

We are working with top pre-construction developers in Miami to present the best investment opportunities and developments in the area. Our team consists of experienced experts who are very knowledgeable in real estate investments and preconstruction projects. Today we would like to present top preconstruction opportunities for you in the Miami area:

400 Sunny Isles

Located on Sunny Isles Boulevard, this condominium property is slated to have 230 residences in total and in excess of 640 feet of intercostal frontage. An Olympic swimming pool, boat slips and a 4000 square foot spa are only some of the amenities that residents will have available to them at this property. A restaurant and a private beach club are also slated to be available and beach access will be a major draw, to be certain. Prices at this property are slated to start at $650,000 and the property will be completed in 2014. Unit sizes range from 1206 square feet to 1872 square feet.

Apogee Beach Hollywood Florida

A luxury condominium property slated to be completed in 2014, prices at Apogee Beach will start at $1,200,000. This property is being developed on 240 feet of beach and, in every unit, you will have oceanfront views. The property will also include a movie theater, a fitness center and housing options that include two-, three- and four-bedroom residences.

Bellini Williams Island Aventura

The Williams Island is claim to fame as Florida’s Riviera on par with France’s Côte d’Azur and Italy’s Liguria. Nestled just off the Intracoastal Waterway between the mainland and the Atlantic, Williams Island is a private community where Bellini project will rise among existing residences — the last building to grace this urban paradise. It will be a gated community located on the 80-acre island. The yacht owners can dock vessels up to 160 feet long among 106 slips. Full dock master service is provided. Easy access to the Atlantic via Haulover. Slips are available for short-term or annual lease.

All residencies will offer spectacular views on the Intracoastal and the ocean. The residents will be able to enjoy 16 tennis courts, 3 restaurants, 27,000 square foot spa. In addition, each building has its own pool, residents enjoy gathering at a community swim area adjacent to a restaurant.

Chateau Beach Residences

Collins Avenue is one of the most prestigious locations in all of Miami and this condominium property, planned for completion in 2015, certainly fits right in. In the end, the building will be 33 stories but will have 84 residences in it in total. Prices will start at $1,900,000. The luxury amenities available to residents will include a spa, a wine lounge and a ballroom, a fitness center with ocean views and relaxation terrace. A cigar bar with humidor boxes will also be available at the property.

Porsche Tower Sunny Isles

The Porsche Design Tower will have 57 stories and will be located at 185th Street and Collins Avenue. It will have @ 132 private residences. Most will have a two car garage (four cars also available) in their unit and most will have a private swimming pool on their huge balcony. This will be a partnership with
Gil Dezer of Dezer Development, (who built six oceanfront towers with Donald Trump) and the
Porsche Design Group from Germany.

Mansions at Acqualina Sunny Isles Beach

Exclusively for those with only the most opulent of tastes, the Mansions at Acqualina will fill and pervade all of your senses. From the fresh air, to the sand between your toes and waves crashing along the coastline, living the life of luxury has never been so sweet. Exceeding every expectation ever set out by any builder across the country, the talented international team of both architects and craftsmen has pulled together in an effort to make this delicious enterprise a reality.

Getting In On The Preconstruction Condo

Purchasing a preconstruction condominium requires the assistance of a skilled realtor who can guide you through the process and make certain that you get in on the property that you want. The process starts by sending a letter of intent with an initial deposit, which should be between $10,000 and $15,000. In some cases, a 20 percent deposit may be required with a contract.

At the groundbreaking, an additional 20 percent will be required and the remaining 10 percent will be required before the condominium is completed, making a 50 percent total down payment on the property. The remaining 50 percent of the total cost of the condominium will be due upon closing.

Remember that you are offered a 15-day grace period during which you may decide to cancel your condominium contract for any reason you see fit. Most condominium units purchased in this fashion will require that you install your own flooring and other design elements. If you are interested in purchasing a condominium before it is constructed, talk to a realtor and they will be able to answer any questions you might have.

For more information or to schedule a private consultation, please call Lana Bell at 1.954.336.1016.

Edgardo De Fortuna Purchases Sunny Isles Beach Oceanfront Site for $22 Million

By Sunny Isles Real Estate Expert on May 1st, 2012

Sunny Isles Condos for sale

Oceanfront condos in Sunny Isles Beach

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.

Proof of Rising Prices on Oceanfront Condos in Sunny Isles and Miami Beach

By Sunny Isles Real Estate Expert on April 1st, 2012

Miami Real Estate For Sale

Miami Condos sold

There are many consumers not yet convinced that things are “turning around” in the preconstruction market in the Sunny Isles and Miami Beach area. That perspective is fairly easy to understand if you see that people are basing such an opinion on the older headlines and business news, but if you look a bit closer at what is actually happening in the market…well, you’d change your mind about the issue.

For instance, if you were to check out the newest project from developer Gil Dezer you would see a huge amount of interest and activity, and none of it could be described as a reflection of the so-called “modern market”. That is because Dezer is currently working on the newest luxury oceanfront pre-construction project Porsche Tower in Sunny Isles Beach, and though it is not going to be ready for residents until 2016, more than 15 of the $3.9 million-plus homes have already been reserved.

While the $1,000 per square foot price tag on these homes may not be feasible for all interested buyers, there is much more to find in the Miami and Sunny Isles condo market. For example, the Related Group (which is most often associated with massive condominium structures scattered throughout Miami and its environs) is currently working on the MyBrickell facility in the heart of city, usually called the downtown region. This is a neighborhood that was once believed to be a “no go” in terms of residential properties but which has become a dynamic market with the many “bargain shoppers” of the world.

Thus, the $350 per square foot price tag on the 192 units has led to a near “sell out” of the entire structure long before the project has even broken ground. As of early 2012, it had reservations for 90 percent of the homes in the building.
Is Marketing to Blame?

Many might point to these diverse projects and say that it is probably marketing that is leading to so much interest, but the simple fact of the matter is that many of the top selling projects have almost zero marketing, and few even have viable websites or established sales offices.

What is behind the success? If you explore many of the top selling preconstruction projects it would quickly become clear that measured sales are the real engine behind the incredible numbers. Rather than building in the thousands, most of the projects are doing pre-sales on extremely limited numbers of homes.

When this is partnered with the fact that many international buyers are exploring their chances for a Miami property at a relatively bargain-basement price (when compared to the booming years prior to 2008), you get a wonderful result. For example, Canadian buyers who had long avoided the $500 per square foot price tags on the smallest and least opulent units are now able to dedicate less than $400 per square foot for a much more upscale home. Sellers are not boosting prices in response to these sales, however, and that is what is keeping the market viable and vibrant.

We should also offer a bit of additional detail about the strength of this proof that the preconstruction market is more than just back on track. For instance, the luxury homes offered by Gil Dezer come with a mandatory $100k escrow deposit just to take a meeting with the builders! Twenty-seven interested parties have put down the cash to sit down and discuss the options, and as already mentioned, fifteen of the meetings have resulted in fifteen committed buyers.

Additionally, these buyers are asked to put down ten percent of the purchase price of the home that won’t be available for a few more years, plus another ten percent to enter into the contract AND a further ten percent when the actual construction starts. Do they all agree to these terms? Yes, and none of the escrow deposits have ever had to be returned because the buyers are ready to commit to the properties.

The same applies to the lower priced homes being made available by Related Group. They are actually requiring that eighty percent of the purchase price be put down until the closing on the home, at which time the final twenty percent is required too.

There are other groups, such as the Brickell House group, that requires ten percent for a reservation on one of its newest units (a 374 unit project due to begin in the summer of 2012) and a full seventy percent of the cost to be paid during construction; or the Apogee Beach facility that asks for a 40% deposit for one of its 48 units.

Clearly, there has been a sort of metamorphosis in the preconstruction model. Rather than “monster” projects of thousands of homes at one time, with top tier pricing, the market has adjusted to fit the current global financial conditions.

This means that it is possible to find a great home in the Miami area that is newly built, totally modern in terms of amenities (such as the Porsche Design’s automated parking garages), and yet available at a cost that was once unheard of. The newest facet to this model, however, is that it can be a very measurable preconstruction period involved in the deal.

This measured sales approach is working well for buyers too because it does allow them to get a good price (currently averaging at less than $400 per square foot but going all of the way up to $1000 per square foot too) and to be able to use some payment terms that can work well with almost any budget. Ten percent to reserve a condominium about to break ground is a nice deal, and the opportunity to spread out the payments over the next few years is also beneficial. Many buyers will have to pay from twenty to forty percent of the entire price at closing, and this is why so many are rushing into this market before all of the available homes are gone.