Your Sunny Isles Condo Resource

The South Florida real estate

became a roller-coaster ride back in 2002 through 2007 due to loans and mortgages being cheap and readily available, thus condo flippers were flipping several times before the buildings were even built, resulting in artificially inflated prices. At the height of the condo flipping in 2005-2006, prices for some brand new projects, like Jade Ocean Sunny Isles hit as much as $1,200 per square foot….

Since then most of properties lost 30% to 40% because most of the buyers had bailed out leaving the developers struggling to complete the projects and to sell the units all over again. However, things are looking brighter on the horizon – the prices are back to affordable again and the buyers are looking to capitalize on it.

Two most popular condos in Sunny Isles – Jade Beach and Jade Ocean

are making a comeback again. Jade Beach is completely sold out as of beginning of 2010 and Jade Ocean is not 60% sold and closed. Of course the prices are no longer $1,200 per sq.ft., but more like $450 and $500 per square foot, which of course is lot more affordable and in line with today’s luxury ocean front properties in Miami.

Sunny Isles Beach real estate

is situated directly on the Atlantic ocean, between Golden Beach real estate which is north of Sunny Isles and Bal Harbour real estate on the south side. Aventura condos are located West of Sunny Isles.

The most recent addition to an already impressive Sunny Isles condos are the three Trump Towers offering some 813 luxury ocean front units. Trump Tower I is already completely sold out, Trump Tower II is about 85% sold out and Trump Tower III is scheduled to start the sell out on September 15th. The prices will vary between the lowest $365 per square foot to just over $400 per square foot for higher floors which offer 11 foot ceilings and expansive South East views of Downtown Miami and of course the ocean.

Gil Dezer, president of Dezer Properties, says of Trump Towers: “We really set the floor for pricing in Miami, here we are in a Trump Tower building, selling at below $400 a foot on the ocean. People are waiting for the bottom, and I think we hit the floor.”

Dezer is also in charge of the nearby Trump Palace and Trump Royale, named Trump Grande Sunny Isles, another high-rise development on Collins Avenue in Sunny Isles Beach. The complex also includes Trump International hotel.

“We were averaging $800 a foot before (during the downturn), and now we’re getting about $400 a foot; we’re down literally 50 percent,” Dezer says of Trump Towers.

Edgardo Defortuna, president and CEO of Fortune International Development, says “We sold Jade Beach at an average of $540 a square foot; the resales went up to $750 a square foot, but some of those buyers didn’t close, and we ended up taking those units back.” However, in the last six months, Fortune International has managed to resell the remainder of Jade Beach’s 248 units. The sister project Jade Ocean is now selling eight to 12 units per month at an average of $625 per square foot.

In January, Dezer Development decided to bet even bigger on Sunny Isles by assuming a $265 million loan from a development partnership that included the Related Group in order to take over sales of Trump Towers. Since then, Dezer has sold about 285 apartments at Trump Towers at an average of around $420 per square foot.

Part of this success is thanks to Sunny Isles’ beach location surrounded by wealthy enclaves. Golden Beach homes, full of multimillion-dollar mansions (Ricky Martin has one), recently completed a $30 million civic improvement project that included landscaping and an eco-friendly storm-water drainage system.

Nearby Bal Harbour condos offer most sought after ocean front properties as well as a shopping destination that rivals top shopping in the world, comparable and some think even better than Rodeo Drive and Europe. And Aventura is a quiet golf and beach destination favored by Michael Jordan and a sharp set who can’t stand the bustle of South Beach.

“Friends bring their friends, relatives recommend Sunny Isles to their loved one’s, because those who live in Sunny Isles Beach simple love it!” says Edgardo Defortuna. “The Sunny Isles market has become very attractive once again.”

Trump Towers Sunny Isles Beach Florida – Now Owned By Dezer Properties

Here is most recent article about Trump Towers Sunny Isles that was published in The Miami Herald. Dezer Properties has taken over the ownership stake at the mega complex and is selling it now below the market price! Here is full story:

Dezer Properties has taken over the Miami mega-condo developer’s ownership stake at Trump Towers in Sunny Isles Beach and is assuming the remaining debt on the property.

Condominium prices are being cut by at least 30 percent at the newly built skyscrapers, said Dezer Properties President Gil Dezer, as the company tries to unload hundreds of unsold units amid a troubled real-estate market.

Real-estate experts say the prices now rank below competing new oceanfront properties countywide.

The Trump Towers is a three-tower

813-unit project – an oceanfront condominium in Sunny Isles Beach located at 16001 Collins Ave. was co-developed by Related and Dezer — with Related responsible for construction and financing and Dezer in charge of sales and marketing, Dezer said. The towers derived their name through a licensing deal with New York real-estate mogul Donald Trump.

Following three months of negotiations with lenders, Dezer said his company assumed the former partnership’s $265 million loan on Dec. 31, 2009. He declined to comment on other financial aspects of the deal with Related, but said it was “an amicable split.”

“It was a matter of Related CEO Jorge Perez having a lot on his hands and us being in the Sunny Isles market and being the best fit to handle this,” Dezer said. The Dezer family-owned business holds 45 acres of oceanfront land in Sunny Isles Beach, with sites for eight more buildings, he said.

Related Associate General Counsel Betsy McCoy declined to comment on the deal on Thursday.

OTHER PROJECTS

Trump Towers is not the first project that Related, among the most aggressive developers during the real-estate boom, has exited.

Last July, Related surrendered ownership of the 420-unit CityPlace South Tower in West Palm Beach to a group of partners led by Toronto-based Scotia Capital.

And the company has been negotiating for months with lenders regarding its $1 billion ICON Brickell project, a three-tower, 1,800-unit luxury development in the 400 block of Brickell Avenue in Miami. McCoy also declined comment on ICON.

“We plan to do more projects together,” Dezer said of Related, declining to discuss specifics, but adding that an architect for a new project had just left his office. “I will take Jorge as a partner any day of the week because he is a great partner.”

The Dezers — Gil and father Michael Dezer — also developed Trump Grande in Sunny Isles Beach, a three-building oceanfront enclave that includes the Trump International Beach Resort, built in 2003; Trump Palace, completed in 2006 and sold out; and Trump Royale, which was finished in 2008 and is 60 percent sold out. In addition to their South Florida properties, the Dezers’ holdings include 27 buildings in New York.

CHANGING MARKET

For Trump Towers Miami

Wells Fargo, the lead agent of a syndicate of 11 banks, extended financing for four more years, giving the company time to sell the remaining 435 unsold units, Dezer said. Prices now range from $350 per square foot for most units to $600 a square foot for penthouses, he said.

“It’s like a relaunch. What we originally sold was preconstruction with 20 percent down, and we had almost 900 units spoken for,” Dezer said. “Then the crisis hit as we called for closings, and many buyers had their situations changed. So we’re selling the units back in inventory.”

Each of the three 45-story towers has 271 units. Tower I has 260 units sold, and Tower II is about 40 percent sold with 105 sold, he said. During the next two to three months, Dezer will send out closing notices to those who put down deposits on Tower III, and give them the option to move over at a reduced price to Tower II. Tower III was sold out at an average price of $720 per square foot, with some sales at more than $1,000 a square foot, Dezer said.

During preconstruction sales a few years ago, Trump prices began at $600 to $700 a square foot, said Craig Studnicky, president of International Sales Group, an Aventura real estate sales and marketing firm that specializes in Sunny Isles Beach real estate and Aventura.

At $350 a square foot, the price now is even below replacement cost, Studnicky said. “If they went to build today, it would cost $400 to $450 a square foot, including land.”

However, Trump Towers’ new prices reflect the current glut of unsold units, said real-estate analyst David Dabby.

“I think $350 is the low end of the oceanfront in Miami-Dade County,” said Dabby, president of Coral Gables-based Dabby Group Advisors. “Miami Beach is significantly higher, primarily due to a lack of new inventory and higher demand.”

Related’s move and the price reduction also demonstrate developers are cutting losses. During the boom, Related was the most prolific condo developer in Miami, Dabby said.

“There’s no future for new construction until the overhang is gone,” he said. “They have to get rid of the problem before they can even think of the next project.”

Sunny Isles Beach Condos and Sunny Isles Real Estate

are one of the nation’s premiere playgrounds for rich and famous and has traditionally sold very well as far as ocean front real estate is concerned. However, the recent economic meltdown (that continues to reverberate through much of the nation), slowed that down somewhat. While the area never suffered the hideous fate that affected most of the US, it did slow. Today, that seems to be a thing of the past.

As an indicator if the area’s increasing health and rebounding economy, Sunny Isles Beach real estate and Bal Harbour real estate has begun to increase in sales frequency. For example, Acqualina Sunny Isles Condos reamin the top seller as well as Turnberry Colony Sunny Isles. However, since the prices have declined somewhat, almost all ocean front condos have recorded recent sales. Condos like Ocean Four, Trump Palace and Trump Royale has also experienced an upswing in the number of units sold. Of course, two properties do not make a marked upswing, or even a viable trend. However, when you throw in the fact that units have sold in Sands Pointe, Pinnacle Sunny Isles, Jade Beach and Jade Ocean Sunny Isles, you begin to see the truth.

While the rest of the nation might be experiencing a minute alleviation of the economic crisis, Bal Harbour condos and Sunny Isles luxury condos are booming once more. However, for those interested in investing in South Florida real estate, the prices for these luxury condos are still very low. You can purchase a high-end residence for a fraction of what it would have cost two years ago. That said, those prices will not last long, as the demand continues to increase and more people flock to the area to take advantage of these deals.

All in all, the economy of Sunny Isles Beach and Bal Harbour is a great place to make a lasting investment in luxury condo real estate. However, that investment is best made quickly, while prices are reasonable.

Miami real estate

is some of the most dynamic real estate in the world. During the condo construction boom in Miami from 2000 to 2008 there were more than 60,000 new residences added. Since then the prices had dropped and more and more units became available for sale. Today, there are great deals available for some of the most desirable real estate in Miami.

Miami ocean front condos

are still the most popular properties and, despite the economic meltdown, hold value the most. However, like anything in this world, there are some oceanfront condos that hold value better than other condos.

Below is the top 5 viewed condos in Miami during the month of November:

Ocean Four Sunny Isles Beach

with over 6,000 viewers during the past 30 days, this ocean front condo was built in 2006 and is located in the heart of Sunny Isles Beach, across from shopping plaza, restaurants, Publix and other attractions. The average selling price in Ocean Four is about $363 per square foot, which is less than the original pre-construction price.

Jade Beach Sunny Isles

is the second most viewed condo in Miami during the month of November. Jade Beach was completed in 2008 and is 55 stories high. Located right next to Ocean Four and Jade Ocean it offers convenient location, top amenities, private beach, cabanas and luxurious apartments. Average selling price for a Jade Beach condo is about $450 per square foot.

Jade Ocean Sunny Isles Beach

takes the third place with just a few viewers less than Jade Beach. Jade Ocean Sunny Isles was just completed a few months ago and now in occupancy stages. There some defaulted units that are still available at a reduced price. The average selling price for Jade Ocean condo is about $550 per square foot. However, this condo is all glass structure and probably the most noticeable condo in Miami, soaring 55 stories high.

Trump Palace Sunny Isles

and Turnberry Ocean Colony split the fourth place for most visited condos in Miami. Both condos were built in 2006 and 2007. Average selling price for Trump Palace condo is $530 per square foot which is holding pretty well from it’s original selling price of $500/foot. However, Turnberry Ocean Colony Condo is by far the most luxurious building in Miami with an average selling price of $530 per square foot.

Last, but not lease is Trump Tower Miami

The first tower is completely sold and occupied, sold at an average price of $400 per foot, Trump Towers Sunny Isles offer same beach, amenities and luxury at a less expensive price. The second Trump Tower is now selling at around $375 per square foot and offers amazing long term values for investors and vacationeers alike.

For more information on Miami real estate for sale and Miami condos for sale please visit our site – Sunny Isles Miami Real Estate

Having to deal with many inquires each day

I always get the question, it seems, about whether now is the right time to buy Sunny Isles Beach condo, or not to buy. Sounds almost Shakespearean, doesn’t it.

It’s hardly a secret

that we’re in a buyers market. So, what are you waiting for – a special invitation? Understandably, many buyers are hoping to get the absolute best deal. However, to get the best deal you don’t need to wait for the world real estate to go down. All you need to do is start aggressively pursuing your real estate goal. You need to be realistic and patient and of course lucky. Same phenomena happened in the sellers’ market of 2002-2006, where many sellers were hoping to hit the peak and sell on it. However, to be successful buyer or seller, all you need is a strategy and perseverance.

I find myself

talking at cross purposes sometimes with folks who are putting off buying, and I’ve noticed that sometimes people who are waiting to buy think my job is to talk people into buying now. I heard one such fellow remark sarcastically, “Of course, if you’re a realtor, now is always the right time to buy.”

There may be realtors who have a more dominant personality and agressive selling style, that is how they see their job — talking people into buying things. It’s certainly not how I see my job. Rather than talk a small number of people into buying something, I present as much information as possible, including my website Sunny Realty Of South Florida, to educate people. My goal is to reach a large number of audience, then find the section of it that’s ready to buy right now or in some foreseeable time frame and help them achieve their real estate goals.

However, often I get people

who seems to have figured it all out and August 2010 (for example) is the “right time to buy Miami real estate”. They are waiting until that precise moment — or whatever moment they’ve decided on. Often they also seem pretty determined to share that date with others. They seem to want to develop a consensus about the “right time to buy”, as though the right time to buy were some weird celestial phenomenon that will occur at some well known time and that everyone in the Northern Hemisphere will be able to view simultaneously, presumably while sharing a Coke and a smile.

So, to clarify my role

with respect to the people who want to buy (or sell) a home now, and the others who believe in — and want you to wait for — the residential solstice. Let me be clear: my job is not to convince you to buy. In fact, if you need to be convinced, please spend some time and do a research. Internet is a great source to get information on Miami Beach real estate. Find websites where you can check out recent sales, current inventory, see photos and customize the information you need for your research. Try to work it out as a mathematical equation taking into consideration all the variables, including your budget, previous growth, today’s market value, long term growth and of course, the location. Ask your realtor to create a CMA (Comparable Market Analysis) report and as well as current trend for the area.

If, on the other hand

you want to buy “now” (more or less) and need a professional Miami Beach realtor to lead you the right way, then contact an experienced agent, like me. I will spend as much time as we need to, to make sure you’re getting the best possible property for your money. If you’re not ready to buy yet, then keep educating yourself and keep subscribing to newsletters with deals or sign up to receive an automatic notification to stay on top of current deals. I don’t even mind if you share your prognostications about “the right time to buy” with others here — whether you read it in the Wall Street Journal or something by Nostradamus. It’s all good — it’s just a little weird. When’s “the right time to get pregnant”? Is it August 2010, or does it vary by the individual woman and happen as an ongoing thing?

The time is right and there are countless opportunities out there for Sunny Isles Beach Florida Condos

With a name like Trump Palace

luxury and amenities beyond the pale are the standard. Investors in Trump Palace Sunny Isles are able to take advantage of all the best that living in Miami has to offer as well as features and amenities that set this superb residence apart from many others.

Soaring to a spectacular height of 55 stories

far above the South Florida skyline, Trump Palace Miami boasts inspiring views of the beaches and ocean. High-end quality and luxury are pre-requisites in this building and you will certainly be able to experience this first-hand from the moment you walk into the fabulous lobby until the moment you stroll out across the gorgeous tropical grounds that surround this luxury building.

Residents of Trump Palace Miami Condo

and their guests are able to enjoy everything from a 5,000 square foot duplex spa features his and her Jacuzzis, steam room, sauna and high-end fitness equipment to 1,000 feet of pristine sugary white beachfront.

Two floors of Trump Palace Condo Miami

have been dedicated to multi-purpose uses while a car wash and full service valet service are also offered to residents. In addition, residents can enjoy such amenities as secured storage closets and much more.

Investors new to Trump Palace Florida

will find that nothing has been spared in order to provide residents with the finest that luxury living has to offer. Residents of Trump Palace are able to enjoy an enviable and luxurious lifestyle that is coveted by many. The gatehouse, which offers 24-hour attendance, assures complete security and privacy to all residents while the private elevators lead directly to residence entrances.

Along with the 1,000 square feet of ocean front

that lines the property, Trump Palace Sunny Isles Condo also offers a number of water activities including a lagoon pool that is temperature controlled and features beach type entry as well as two lap pools, waterfalls, Jacuzzis and a snack bar and grill.

Private elevators lead the way

into the plush units, each of which are highlighted by ten-foot coffered ceilings, solid-double wood doors and floor to ceiling windows. The kitchens are a cook’s dream, featuring state of the art appliances, Italian designed cabinets, sub-zero refrigerators, designer granite countertops and optional smart home technology. At the end of the day, residents can relax in a glass enclosed shower or enjoy a Jacuzzi whirlpool tub. Italian designer floating sinks and European style bidets round out the bath amenities and features.

For luxury conscious investors

who are looking for the perfect compliment of waterside, exclusive living, Trump Palace Miami Fl is the ideal choice.

Trump Palace Sunny Isles Beach Florida – View MLS Listings For All Currently Available Condos For Sale And For Rent

Whenever the name “Trump” comes up

in association with condos and real estate, then you know you’re about to experience one of the most amazing condominiums on the market. The same is true at the Trump Palace and it allows you to go home to an ultimate Florida experience everyday.

Fifty-five stories above Miami’s skyline, just visiting one of these condos is an experience. You’ll see everything Miami has to offer from the skyline, to everything else going on in south Miami Beach. These condos are purely high-end and your expectations of the Trump name will definitely be met.

Trump Palace condos

are purely amazing with floor to ceiling glass walls, outdoor terraces, ten foot ceilings, and awesome master suites. The building itself offers excellent amenities as well. You’ll love to take advantage of the valet service as well as the onsite car wash.

Trump Palace building

is set on 1,000 feet of pristine Sunny Isles Beach and is a direct beachfront property located right on the beach. If you like water, Trump Palace offers temperature controlled lagoon pool with beach grade entry as well as the two lap pools, the Jacuzzis, waterfalls and snack bar and grill. Getting up to your condo on one of the fifty-five floors is easy with private, high-speed elevators.

Trump Palace is trully an American dream

home in the sky. Enjoy sunrise and sunsets with your dual wrap-around balnies facing East and West. Sunny Isles real estate is quickly becoming some of the most desired real estate in the country. This is why real estate giants like Trump, Turnberry, Forture are building maginificent hi-rise structures in that area. Invest today and reap the profits in the near future.

Trump Palace Sunny Isles Beach Florida – View All Currently Available Condos For Sale And For Rent