Tuesday, December 22, 2015

Miami is your Neighborhood

With its exponential growth, Miami has proven to be one of the best cities to invest and live in. Not only has there been an amazing amount of new constructions, but projects have been carried out by its own citizens to enhance life in this city.

Zyscovich Architects want to bring fun, funky bus stations to key locations around Miami. Their initial concept was a bus shelter shaped like a Big M, where the bus riders would feel comfort and convenience. These bus shelters would be stylish as well, making them adapt to the essence of each neighborhood. However, this creative idea is not standing alone; it came along a series of other winners in the Public Space Challenge.

Public Space Challenge
The purpose of this challenge is to uncover the best ideas for creating, improving or activating parks, plazas and local gathering places in Miami. The Miami Foundation came up with this yearly contest, where the number of submissions has increased in the last two years, showing its success and the interest of the citizens in improving their communities.

Everyone in the greater Miami area can participate. As a matter of fact, they accept submissions from individuals, groups, nonprofit organizations and for-profit companies, which is the case of Zyscovich Architects. This architectural firm is one of this year’s 18 winners that have shown a variety of themes. From the rejuvenation of a small, vacant plot of land (located at Jackson Memorial Hospital’s) to street poetry, you will find projects that drive long-term improvements to our city’s landscape.

Ideas for your space
Parks and public spaces are important for our residents’ physical well-being and allow connections to each other, because they represent recreational places for different activities and encounters. Their development provides the chance to diversify lifestyles, cultures and progress. That outdoor space that you use on a daily basis is yours and it can be transformed with your ideas. Improvement is what we should be aiming for and by starting these projects, Miami is not turning back. This highlights the great potential that can be exploited and the risk that comes by not investing in this growing city. Let’s hope to see those comfy Ms really soon.

Friday, October 30, 2015

Baltus House is ready to go!

With a finished construction Baltus House is waiting for you! Whether if you are looking to buy or rent this building is ready to take you in. Given that it is located in Biscayne Boulevard, it certainly offers off the hook advantages.

Being in the design district opens the door to people interested in new trends, art, innovative fashion, architecture, dining and, of course, design. The lifestyle of this district is beyond comparison and the last couple a months have been a proof of that. In between new high end stores, first quality yoga and an art exhibition concentrated in boundaries between organic elements and technology in society, it takes you to different experiences that you won’t be able to live anywhere else. Nothing shows more professionalism and an open mind than a commitment to encourage a neighborhood comprised of creative experiences. Definitely this is the place to go if you want to be intellectually and culturally stimulated in a tropical ambient.

This brand new building has several features that maximize quality of life and changes the perspective of living in a condo. The lobby and elevators show designer finishes that give a sense of a luxurious and modern home.  It has a beautiful pool, a gym and other common areas that will certainly satisfy anyone’s needs.

All of these positive aspects bring down changes to the prices that keep on rising since the preconstruction sales. Right now you’ll be able to buy or rent and like everything in life either option has its perks. The sale price for a Studio starts at $308,000. For other condos with more square footage it could go from $395,000 to $410,000 (1 Bedroom).

The rent of a Studio goes for $1,600 per month and like the sale prices it goes up with more square footage. In this case you’ll find yourself paying a maximum of $1,800 per month for an 896 sq/ft apartment with 1 bedroom, 1 bathroom and kitchen with stainless steel appliances.

The information shown above gives the picture of the benefits of living in Baltus House: the environment, the local movements, the modern feel, the fantastic common areas, the quality of the condos and others. If you find yourself wanting to be surrounded by what has been described don’t hesitate in contacting us for further information.

Wednesday, June 24, 2015

Celebrities Who Own Miami Real Estate

This is always fun…

A Miami Herald article reported that singer Phil Collins paid a whopping $33 million for a Miami Beach mansion owned by J.Lo over 10 years ago (the home changed hands between these two transactions). “The 12,150-square-foot villa at 5800 North Bay Rd. includes 200 feet of Bayfront property, a wine cellar, a summer kitchen and a pool,” according to the article published last week.

This article brings the attention to the celebrities who buy real estate in Miami whether as a primary or secondary home.  From singers to professional athletes to government officials, Miami has a certain appeal that seems to draw so many to this large metro area with a tropical feel.  Here are a few of our favorite celebrities who bought real estate Miami real estate:

celebrities-live-in-miamiPharrell Williams -- Brickell
Who doesn’t love Pharrell Williams?  With his success from The Voice and his mega hit, Happy, he has owned his 40th floor Brickell condo since 2007.  Even though he tried to sell it for $16.8 million, he pulled it off the market in 2014. Bristol Tower is a Brickell condominium built in 1993 that sits on the Bay with the most amazing amenities and even better Bay and city views. Granted Williams’s condo was a 10,000 square foot penthouse with its own private pool and every bell and whistle that is expected in such a residence, the most expensive unit sold at the Bristol Tower in the last three years was a penthouse residence on the 39th floor for a little over $3 million. Currently there are 13 listings with list prices starting in the mid-$800s and climbing to almost $6 million (FYI – the most expensive listing has been on the market for almost a year).

miami-beach-real-estateGloria Estefan – Star Island
Of course Gloria Estefan lives in Miami – how can the lead of the Miami Sound Machine live anywhere else?  Her home with husband, Emilio Estefan, is on Star Island and is worth about $20 million (she bought it for $600K in 1986). They own a second home on Star Island that is used for guests that is listed at $40 million. Star Island is one of the most exclusive neighborhoods in all of Miami-Dade County and is home only 34 total residences many of which are owned by well-known people. Listings are few and far between; in fact, Gloria Estefan’s second residence is the only listings except for a $19 million lot also listed for sale. In the last three years, five homes have sold (one of which was Rosie O’Donnell’s -- $16.5 million) with the most recent sale in 2014 selling for over $28 million. 

LeBron James – Coconut Grove
It is a sore subject but none the less, it is worth talking about simply because of the house. When LeBron James signed to play with the Heat, he bought a $9 million estate in Coconut Grove.  Now that he has gone back to Cleveland (enjoy the snow - not), his home in Crystal View is up for sale and listed for $15 million.  It finally has a pending offer after dropping the list price by $2 million.  This home is its own compound that sits on a half-acre facing Biscayne Bay.  The other homes in this small Coconut Grove neighborhood listed for sale between $1 million and almost $4 million (diagonally across from James’s home).

luxury-miami-real-estatePhil Collins – La Gorce Country Club
Phil Collins bought an absolute show stopper of Miami Beach real estate.  Built in the 1920s, this home is located in La Gorce Country Club on North Bay Road.  It sits on Biscayne Bay with the most unbelievable water views and views of the Miami skyline.  In addition to a magnificent home, it features a new dock and sea wall, a 20,000-lb boat lift, two Jet Ski lifts, 200 feet of Bayfront views, and tons of tropical and lush landscaping that surrounds a fabulous pool and outdoor kitchen. Mr. Collins and his guests must access the gated entry to enter the grounds and home (would expect nothing less).  Properties in La Gorce Country Club typically start at over $1 million and climb to almost $40 million depending on the location of the property and the home itself – currently there are 17 properties for sale. Over the last year, there have been about 12 sales in La Gorce Country Club with the sale prices ranging between about $700K and $30 million (the one Phil Collins bought).

What and Where They Buy
Celebrities come and celebrities go in Miami but it is always fun to see what and where they buy. One thing for certain is they want a nice view and pay big for it.  Whether brand new or remodeled with lots of character, if you see that one celebrity lives in a certain neighborhood, you can probably bet that there are others living around them. 

Thursday, May 21, 2015

Miami Becomes Top Metro Area in the Country with Most Renters

Back in February, there was an article in the Miami New Times about Miami having the largest percentage of residents renting their homes than any other metro area in the country – a whopping 65 percent. The article stated “according to a new report from New York University's Furman Center and Capital One Financial Corp, 65 percent of Miamians rented in 2013, slightly ahead of the 64 percent of New Yorkers who rented. For Miami, that's a 5 percent increase since 2006.”

Miami is in the midst of undergoing a major overhaul in terms of development especially in the areas surrounding the Midtown area of Miami.  In addition to the highly sought after areas of Brickell and Downtown, Midtown and the Design District have become more popular with people in search of rentals. This makes these areas more appealing to investors in search of real estate to buy as investments for rental property.

With this in mind, here are a handful of condominiums in the Design District and Midtown that present the opportunity for investors to buy units that are affordable, easy to rent and offer more potential for a good return on their investment.

IOS on the Bay, 720 North 62nd Street
Probably the most appealing attribute of IOS on the Bay is the fact that it is a boutique condominium with a total of only 43 residences comprised of 23 floor plans – never mind that it sits on the Bay.  The building itself exudes a modern design with clean and simple lines that blend perfectly with the free flow of its Biscayne Bay backdrop.  Residents can enjoy a peaceful life in one, two and three-bedroom units ranging in size from just under 700 square feet to over 1,900 square feet that offer beautiful Bay and city views. Inside each residence, owners can expect to find a very contemporary interior design with very slick kitchens with stainless steel appliances, stone counter tops and more as well as master bathrooms with glass-walled showers and pebble floors.  IOS on the Bay exudes a very evident yet understated “cool factor.”  As for list prices, they typically range anywhere from the mid to upper-$200s to upper-$600s depending on the location of the unit and the view from the expansive balcony.  Additionally, the average number of days on the market is just over 60 days (based on sales in the last six months).   As for rentals, they are snapped up fairly quickly when listed.  Recently rented units show that monthly rental rates start at about $1,600 for a one-bedroom and climb $6,500 for a three-bedroom penthouse with rooftop terrace.

MIDBLOCK at Midtown, 3250 NE 1st Avenue
Featured in our blog in 2014, MIDBLOCK is a unique condominium situated in the heart of Midtown and features a mix of condominium units, lofts and townhouse residences.  Its most interesting architectural features are probably the glass rotunda around which the rest of the building stands and how the design of the units are built with a live/work dynamic which appeals to many today.  Because of its central location, Miami residents like this condominium since it is close to the other new neighborhoods of Edgewater and the posh Design District as well as Brickell and Downtown.  There are tons of amenities that rival five-star luxury condominiums from 24-hour valet and concierge to a state of the art fitness center to a rooftop terrace swimming pool that offer amazing views. List prices usually range from the mid-$300s to the upper-$500s with the average price per square foot at about $430.  Rental rates start at about $2,000 for a one-bedroom and about $2,600 two-bedrooms.  Recent rentals show that they take about 60 days to rent. 

Uptown Lofts, 2275 Biscayne Boulevard
Although Uptown Lofts is now considered to be in Edgewater, it is a very popular Midtown Miami condominium with lots of character and individuality.  Located just a few blocks from the Performing Arts Center,  these residences each have two balconies, open and airy layouts and 10+ foot high ceilings – they are lofts after all! Building amenities consist of a pool with recreation deck, fitness center, covered assigned parking, storage, and more.  Buyers can choose from studios, one and two-bedroom units with list prices starting in the mid-$200s and reach $400K.    Monthly rental rates start at about $1,500 and top $3,500.  Uptown Lofts is an excellent option for investors as renters often seek out this condominium because of its eclectic appeal along with the affordability and location.

Continued Increase in Renters

The large number of condominiums makes for many options when considering renting in Miami.  With the continued increase in renters comes the increase in rental rates.  Luckily, there is a huge increase in development of condominiums in areas surrounding Midtown (i.e. Edgewater, Design District, Brickell, Downtown). 

Tuesday, April 28, 2015

1100 Millecento

Completed just a few months ago, 1100 Millecento real estate listings are constantly popping up on the Miami-Dade MLS – four in the last two weeks to be exact.  This gives us a reason to remind potential buyers about this spectacular Related Group property that began construction back in 2012.  As one of the most recognized Miami condominiums and the third “post-recession” Brickell condominium to be completed, 1100 Millecento climbs 42 stories into the Miami skyline with 382 residences overlooking the Miami skyline as well as Biscayne Bay.

The Parties Responsible for This Masterpiece
It is Brickell so the most obvious party is The Related Group which developed 1100 Millecento.  From there, Carlos Ott was tapped to bring the idea to reality as the architect responsible for designing this new tower as well as other condominiums like ECHO Brickell. 

The Pininfarina Group, chaired by Paolo Pininfarina, stepped up to design the interior in a well-appointed style that only his firm can create.  The Pininfarina Group, known for its unique design of such well known high-end vehicles like Maserati, Ferrari and Rolls Royce, moved into the interior design arena and has already made a name for themselves with this building and Beachwalk in Hallandale.

Location of 1100 Millecento
1100 Millecento is perfectly situated at 1100 South Miami Avenue in the heart of Brickell.  Just a couple of blocks from Mary Brickell Village, 1100 Millecento is close to restaurants, shopping, grocery and the spectacular embassies and consulates. 

Brickell is the financial district of Miami and currently in a huge growing mode with condominiums, commercial space and mixed-use properties under development and construction.  In the middle of it all, 1100 Millecento stands out above the rest. 

1100 Millecento Amenities
1100 Millecento is an amazing building that features fantastic amenities for residents and their guests.  The most obvious place to start is the 9th floor pool deck with Club Citta Clubhouse and a resort-style pool and lounging area.  Additionally, the state-of-the-art fitness center overlooks the pool and offers city views making working out much easier.  On the 43rd floor is the Cielo Club pool with private cabanas and even more unbelievable panoramic Miami skyline views. 1100 Millecento also features a private screening room (theatre), 24-hour security, valet and concierge, a multi-media room, a catering kitchen and assigned parking just for starters.

The ground and mezzanine floors of 1100 Millecento are reserved for commercial space.  A recent article in The Real Deal notes that over 17,000 square feet of space just sold for $10.5 million.  Retail and restaurants are slated to occupy the space once the buildout if finished. 

Each residence is well-appointed with high end finishes of rich wood and contemporary style expected from Pininfarina.  Some of the features include nine and 10-foot ceilings, smart building technology, hurricane resistant glass, doors and railings, gourmet kitchens with an Italian flair – stone counter tops, stainless steel appliances and imported tile floors.  On top of this, the patios are large and perfect for enjoying the South Florida sunshine and breezes.

1100 Millecento Real Estate
With the building complete and residents inhabiting their homes, there are still properties available for sale.  1100 Millecento offers studios, one and two-bedroom units with square footage ranging from 578 square feet (large for a studio) to almost 1,300 square feet. List prices start under $300K for a studio and climb to about $800K for a two-bedroom property.  

As for 1100 Millecento rentals, monthly rates for studios typically start at around $1,800 while one-bedroom and two-bedroom units start at about $2,000 and $2,300, respectively. 

Worth Consideration
1100 Millecento is worth consideration when looking at property in Brickell. The neighborhood has so much to offer and the condominium brings more opportunities to live in a new building with list prices that attract different buyers.

Thursday, April 9, 2015

VISA 01 -- Miami Beach's Newest and Best Pizza

Everyone wants to seek out the best pizza.  There is nothing like it.  Now, Miami Beach is not only home to one of the best beaches in the world; it is now home to one of the best pizza joints as well.  Visa 01 is one of the newest hot spots in Miami Beach that boasts some of the best pizza – maybe the best that has come to pass in a while.  And let’s face it; there is nothing better than really good pizza.

Visa 01’s Location
Miami Beach in and of itself is a perfect location but add a central location around the corner from Lincoln Road and you have perfection.  The really cool part about Visa 01 is that you have to seek it out – 1680 North Michigan Avenue is an office building tucked back off the street.  If you simply drove by looking for a sign, you will probably miss it but trust us when we say that it is there.  It is situated in the rear of the building.  And it is so worth the adventure to find it.

What’s So Great about Visa 01?
Open since January, there is something about Visa 01 that makes it a truly “great” place to eat.  The food is unbelievable and when you add its obscure location, it really becomes a fantastic place! 

In terms of the food, there is definitely a yum factor involved.  You get an idea the minute you walk in the door of the small space especially when one of the wait staff opens the door to the kitchen.  The aroma that drifts through the entire restaurant makes your belly growl (even if you are not that hungry) and you want pizza.

The faves seem to be the Star Luca Pizza which is made with ricotta, pepperoni, mozzarella, and san marzano sauce stuffed in a star-shaped pizza crust.  If you love the crust on pizza, this is a must try – you have to try this pizza.

For salad and dessert lovers, there are several options including a classic Caesar salad (with focaccia croutons) and a salad with grilled eggplant.  Every last one of the salad options is delectable. And for dessert, can you say Nutella pizza? 

Seeking Out Visa 01
Since its opening at the beginning of the year, more and more people are seeking out Visa 01 because of the word of mouth and local publicity of the place.  Area residents, especially those who live in Miami Beach condominiums within blocks of the restaurant, are at an advantage because they can simply walk to dinner – and then attempt to walk the pizza (and dessert) of when they leave.

miami-beach-pizzaRemember that if you head over there and can’t find the place (it typically takes everyone a few trips around the block), look for the building with the red square on it – you can’t miss it.  There may even be someone sitting on a stool at the door.

If you think about it, try to make reservations – VISA 01 takes them and you will be glad you made them because it is a small place and there is usually a wait…a wait for the best pizza you have ever had.

Oh and if you live close, you can even order online and pick it up! 

Wednesday, March 25, 2015

Park Grove in Coconut Grove -- Luxury Condominiums Like No Other

Park Grove, the newest addition to Coconut Grove real estate, is turning out to be just as popular some of the condos in Edgewater and Brickell with over 80 percent of the properties in the building sold.  With ground-breaking taking place very soon, the completion of the first tower is expected to be sometime during the first part of 2017.  A couple of well-known area celebrities who have purchased property at Park Grove include healthcare CEO, Mike Fernandez and Brazilian race car driver, Emerson Fittipaldi. 

Park Grove Overview
Plans show that Park Grove consists of three towers housing 298 residences. The condominium, situated right on Biscayne Bay, has been pegged as an alternative to the Grove at Grand Bay which has sold out.

The site for Park Grove sits on 5.2 acres of bay front property at 2701 Bayshore Drive. The location is ideal as it is in the heart of Coconut Grove across from Dinner Key Marina and within a short walk to shopping and restaurants. Along with Dinner Key Marina, Coconut Grove is known for its exclusivity and some of the most beautiful tourist sites including Vizcaya Museum and Gardens and Barnacle State Park.

Situated next door to the under construction Grove at Grand Bay, Park Grove must be able to stand on its own in terms of architecture and it does.  The architectural design of Park Grove’s Towers One and Two resemble the shape of a peanut – albeit a glass peanut, but still a peanut (aerial renderings). This design of the buildings allows for extended balconies with each residence. Tower Three (referred to as the core tower) is more cylindrically-shaped and like the others has a glass exterior. 
Park Grove Amenities
When we say that no stone is being left un-turned, we mean that no stone is being left un-turned.  The promotional brochures show that some of the Park Grove amenities include an extensive and amazing art collection (Jorge Perez is involved so of course art is a major part), 24-hour concierge, valet and butler service, wine cellars for residents, kids indoor and outdoor play areas, rooftop pools with private cabanas, a state-of-the-art fitness center with area dedicated to yoga, integrated media system and library, game room, business center with meeting rooms, and more.  On top of this, the building is LEED-certified to ensure steps are taken to protect the environment. 

The details of each residence include 10-12 foot ceilings, walls of windows; luxury fixtures and finishes; Sub Zero and Wolf appliances; Italian cabinetry with glass doors and stone countertops in the kitchen; walls of windows, spacious bedrooms and over-sized balconies with unbelievable water and city views; and so much more. 
Tower Two at Park Grove features high ceilings and 20-foot balconies along with all of the amenities mentioned above.  The composition of residences includes one, two, three and four-bedroom units in addition to penthouses.  Tower Two is the superior tower of the compound with 12-foot ceilings in most residences and private pools with the penthouses.
In Tower Three, the plans show eight floor plans with a mix of one, two and three bedroom units each with ceilings reaching 10 feet.  Even though Tower Three houses the most affordable residences, it is still full of all the bells and whistles.
Real Estate at Park Grove
Construction is set to begin soon for Tower Two which is 80 percent sold out.  The square footage for these properties ranges from just over 2,200 square feet to over 3,500 square feet (four-bedroom/five and a half bath) with list prices falling between about $2.5 million and $5 million. 
The payment schedule for property at Park Grove is as follows: 
  • 10% due at reservation
  • 10% due at contract
  • 10% due at ground breaking
  • 10% due at residence floor
  • 50% due at closing

Park Grove – Everything and More
With the Grove at Grand Bay’s unique architectural design and insurmountable luxury, it is imperative that Park Grove hold its own – especially in Coconut Grove.  And from what we see, it definitely does just that.  This is the perfect place to land if you want to live in “the Grove” and expect a certain level of luxury.  Park Grove has everything and more.

Saturday, March 7, 2015

Affordable Brickell Condominiums

Brickell real estate is on fire with closings taking place almost every day. Whether property in a new construction condominium or one that is established and may have buyers chomping at the bit to buy property, Brickell combines the best of a top metro area with a tropical atmosphere and landscape.  And, yes, other major metro areas feature waterfront property but no other offers panoramic views of crystal blue waters paired with the feeling of the Florida sunshine and balmy breezes.

An article in yesterday’s South Florida Business Journal stated that “Miami's Brickell financial district is among the 10 most expensive markets in the Americas to lease an office.” The article went on to state that even though it is one the most expensive, it is still substantially less than the equivalent in New York’s Midtown (about $50 per square foot compared to $130).  Because of this, companies from New York to Sao Paulo are coming to Brickell to open offices.

Real estate listings in Brickell range from about $100K to about $1.5 million making it possible for most any buyer to afford property. To provide insight as what you get for you money, here are a few affordable Brickell condominiums:

500 Brickell, 500 Brickell Avenue
Situated in the heart of Brickell, 500 Brickell Condo features two 43-story buildings with over (600) one, two and three-bedroom residences.  Its eclectically modern fa├žade makes it very evident that it is a Related Group/Arquitectonica development that was completed in 2008.  Residents enjoy many amenities including the interactive touch panel located in each residence giving them a smart-home advantage. It exudes a metropolitan feel due to its location within walking distance to Mary Brickell Village, excellent restaurants, the Miami River Walk and more. One of the biggest attributes is that 500 Brickell appeals to all home buyers including first-time buyers.  Real estate list prices start in the low-$300s and top $2 million. Over the last six months, nine units have sold with the average number of days on the market at 218 days.  Three one-bedrooms sold from the upper-$200s to mid-$300s while six two-bedrooms sold with sale prices in the mid-$400s.  Sale prices sold at about 95 percent of list price for both levels. 

1060 Brickell, 1060 Brickell Avenue
1060 Brickell condo features two towers with a total of 570 residences in two towers located on 1050 and 1060 Brickell Avenue. Built in 2008, this grand condo features unbelievable views, a 12-story parking garage and 24,000 square feet of retail space.  The two towers, 34 stories and 45 stories, offer a variety of floor plans ranging from studios to lofts and penthouses with oversized floor-to-ceiling windows and large terraces to enjoy the Bay breezes and beautiful views, roomy kitchens with stainless steel appliances and more.  For those who work in the center of Brickell, 1060 Brickell is the ideal location as it is close to everything in the area including consulates, Mary Brickell Village, grocery, and more. List prices fall between the high-$200s and the upper-$600s with larger residences topping $1 million making it affordable for many potential buyers.  In the last six months, there have been a total of 10 closings at 1060 Brickell.  Three studios sold in the mid to upper-$200s and averaged about 105 days on the market to sell; six one-bedrooms had sale prices from the low to upper-$300s and averaged about 155 days on the market; and, finally, only one two-bedroom unit sold at $420K but took over 430 days to sell, however, four other two-bedroom properties sold in 2014 with an average number of days on the market at only 74 days.

1060 Brickell Listings

My Brickell, 30 SE 6th Street
Designed by Karim Rashid and developed by The Related Group, My Brickell is one of the most distinctive condominiums in Brickell.  With 192 units on 28 floors, there are a range of floor plans for studios, one and two-bedroom units with square footages ranging from 550 to almost 1,300 square feet and modern fixtures and finishes throughout each unit.  The building offers magnificent water and city views as well as unique open and lofty design, modern kitchens with stainless steel appliances and a slew of amenities that make residents feel like they are on vacation – think resort-style pool, large state-of-the-art fitness center and more.  As a new condominium completed just last year, there have already been six sales since November 2014 with sale prices between the mid-$200 and mid-$400s and the average number of days on the market at about 132 days.    List prices start in the mid-$200s and climb to about $600K.   My Brickell is a top pick for buyers who want a very metropolitan lifestyle combined with the eclectic feel that only Miami can convey.  It is centrally located within walking distance to everything in Brickell and only a short trip to the beaches.

Lots of Options in Brickell
Brickell is in a major growth mode. There are lots of options in Brickell for all buyers from buildings that have been around for years to those that have just been completed to even more in the works.  The best way to find what you want is to explore the area, select a location in this widely, sought after neighborhood, then begin the process of buying in Brickell. 

Thursday, February 19, 2015

Top Five South Beach Condos with Rentals Under $5,000 Per Month

With season in full swing and extreme cold weather up north, the snow birds have definitely flocked to Florida…in droves.  And there is no better time to be in Miami Beach than this weekend for the Food Network & Cooking Channel South Beach Wine & Food Festival.  This fun, annual event, hosted by Southern Wine & Spirits of Florida and Florida International University (FIU), benefits FIU’s Chaplin School of Hospitality & Tourism Management and the Southern Wine & Spirits Beverage Management Center, and has raised over $18 million for the School.  Since its inception in 1997, it has grown to be recognized as America’s most prestigious gourmet gathering and welcomes over 60,000 people.  Local and nationally known chefs come to be part of this weekend including Emeril Lagasse, Bobby Flay, Rachel Ray, Guy Fieri and more. 

Part of the attraction of this huge festival is the location – South Beach.  What is better than good food, good libation and gorgeous weather – everything anyone could want?  South Beach is one of the most unique and appealing places anyone wants to go.   Whether for this festival or simply to spend time in sunny Florida, South Beach is full of seasonal and annual rentals for those who want to live in the middle of all the action.  Here are the top five South Beach condos with rentals under $5,000 per month.

Decoplage Condo, 100 Lincoln Road, Monthly Rental Rates:  $1,600-$14,000
Ideally situated in the beach and just a couple blocks from Lincoln Road Mall,
Decoplage couldn’t be more perfectly situated in South Beach.  The condo was built in 1965 and features (665) studios, one and two-bedroom units with tons of windows and space.  Many units have been remodeled with updated fixtures, finishes and appliances.  Residents enjoy panoramic city and water views, a gorgeous resort-style pool overlooking the Atlantic along with a fully-equipped fitness center, business center, valet parking, and more.  Decoplage allows monthly leases with a maximum of 12 individual leases a year and monthly rental rates typically falling between about $1,600 and $14,000.  There are several one and two-bedroom units available for monthly rentals with rates around $5,000:

Unit #
Monthly Rate
2 BR/2BA
2 BR/2BA
1 BR/1BA

Sunset Harbour, 1800-1900 Sunset Harbour Drive, Monthly Rental Rates:  $2,000-$5,000
Sunset Harbour consists of two towers that sit facing Biscayne Bay.  With gorgeous bay and city views, Sunset Harbour is close to everything in South Beach not to mention the main artery from South Beach to Downtown Miami.  Each of the Sunset Harbour’s towers features 24 stories and about 215 units in each building with updated kitchens, private terraces, washers and dryers and more.  On top of that, community amenities include access to the Sunset Harbour Yacht Club, three pools, a fully-equipped fitness center, 24-hour security and more.  Sunset Harbour rentals feature monthly rates ranging from $3,200 to $5,000 and accommodate only long-term rentals.  Currently there are three available rentals:

Unit #
Monthly Rate
2 BR/2BA
2 BR/2BA
2 BR/2 BA

Flamingo South Beach, 1500 Bay Road, Monthly Rental Rates:  $1,800 - $6,500
Living at Flamingo South Beach is like living in your own little oasis.  The spectacular 16.5-acre compound features three buildings and tons of green space with tropical landscaping.  It has everything you need from an onsite convenience store, liquor store, restaurant and more to amenities like a huge 15,000 square foot fitness center, infinity pool, sandy beach pool and other fabulous perks.  Did we mention there is a dog groomer and dog park on the premises?  Inside each of the almost 1,700 residences (studios, one, two and three-bedrooms), residents enjoy updated, modern kitchens, balconies with beautiful views, and so much more.  Monthly rental rates currently fall between $1,800 for a studio to $6,500 for a two-bedroom unit.  Here are several Flamingo South Beach rentals with monthly rates around $5,000:

Unit #
Monthly Rate
2 BR/2BA
2 BR/2BA
2 BR/2 BA

Always a Great Place to Live
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Wednesday, January 21, 2015

Edgewater Miami Condominiums

When it comes to Edgewater, revitalization is the perfect word to describe the development going on there.  Residents who want to be close to downtown along with the up and coming Design District and artsy Wynwood consider Edgewater the perfect area to live in Miami.  The fact that it sits along Biscayne Bay is the icing on the cake. 
And, even though developers are in the process of building or overhauling condominiums in the Edgewater neighborhood of Miami, there are already residential properties that are considered to be in Edgewater as they fall within the established borders of the neighborhood.  Here are a handful of established Edgewater condominiums with properties available for sale or rent:
Biscayne 21, 2121 N Bayshore Drive.  Let’s talk location.   Yes, Biscayne 21 was built in about 50 years ago but the location is absolutely a premium one.  The residences in the building are dated but the advantage of living here means bigger rooms and lots of character.  The building consists of everything from studios to three-bedroom units with list prices ranging from the upper-$100s to mid-$400s which is very affordable for most any buyer.  And, with unencumbered Bay views from many of the residences, Biscayne 21 is suddenly a very attractive prospect.  As for amenities, the condominium offers a secured entrance as well as tennis courts, swimming pool that faces the Bay, a club house, barbeque area and more.  Properties that sold in 2014 typically averaged about 75 days on the market depending on the unit and the number of bedrooms with the sale price per square foot ranging from the low to mid-$200s for one and two-bedrooms to the low-$300s for three-bedrooms.  With 192 units, there are only six units for sale at Biscayne 21 and no available rentals.  Investors should take note that recent rental rates range from about $1,500 to about $2,500 per month.

Cite Condo, 2000 North Bayshore Drive/2001 Biscayne Boulevard.  Only 10 years old, Cite holds the cool factor with its design and location.  It features three buildings comprised of loft-style and flat-style condominium units.   The loft-style units have exposed design elements that resonate with a NYC loft residence (some with walk-up entrances) while the flat-style units have more common and contemporary design elements.  Although it is a newer building in the area (10-year old new), it has a lot of character to it.  Amenities for residents include 24-hour security and valet parking, covered parking, concierge, pool and spa, a fully-equipped state of the art fitness center, and more.  In 2014, there were 36 sales at Cite with sale prices ranging from the low-$200s ($312/square foot) for one-bedroom units to the upper-$400s ($294/square foot) for three-bedrooms.  The average number of days on the market for units at Cite was around 95 days.  Currently, there are 22 units for sale at Cite along with eight available rental properties.  Investors should note that recently rented properties have monthly rates falling between about $1,600 for one-bedrooms to about $2,600 for two bedrooms.  Currently there are eight rental units available with rates starting at $1,850 and climbing to over $3,000 for a rarely offered three-bedroom unit.
Paramount Bay, 2020 North Bayshore Drive.  Next door to Cite is the recently completed Paramount Bay Condominium.  Located just a block from Margaret Pace Park, Paramount Bay sits directly on North Bayshore facing Biscayne Bay – talk about views!  One of the most exclusive features of living here is the fact that private elevators open directly into units.  Additionally, because this is considered a luxury condominium, it features more high-end fixtures and finishes that give it a very exclusive feel.  And the views from each unit are unbelievable. There were about 40 sales at Paramount Bay in 2014 with the majority being two-bedrooms.  Sale prices for those sold last year range from the mid-$600s to mid-$700s for one-bedrooms; the mid-$700s to about $1.5 million for two-bedrooms; just under $1.2 million to almost $2 million for three-bedrooms; and, over $3 million for four-plus bedrooms and penthouse residences.  January 2015 already shows two closings.  As for current available sales, there are 30 units listed for sale.  The seven available rentals have monthly rates ranging from $4,000 to $6,000 per month for seasonal and annual rentals.

Platinum Condo, 480 NE 30th Street.  Located adjacent to several new condominiums under construction in Edgewater, Platinum is a boutique 22-story mid-rise tower with only 119 residences comprised of a mix of lofts, one, two and three-bedroom residences ranging in size from 828 to 1,763 square feet each with floor-to ceiling windows and contemporary glass balconies. Amenities include state-of-the-art gym, lap pool, Jacuzzi, 24-hour security, valet parking and concierge services.  Platinum is located a block off the Bay and is surrounded by condominiums under construction – Icon Bay, Bay House, Biscayne Beach and Paraiso Bay just to name a few. There are currently six listings at Platinum Condo for sale with list prices ranging from the mid-$300s to upper-$400s and low-$500s for one and two-bedroom properties.  As for rentals, there are three available rentals with monthly rates starting just under $2,000 for a one-bedroom and climbing to over $2,500 for a two-bedroom residence.  Three-bedrooms rarely ever come available – sale or rent.  In 2014, there were only nine sales at Platinum Condo – sale prices from the upper-$200s to mid-$400s.  The average sale price per square foot fell between $330 and $350 per square foot with the average number of days on the market at almost 170 days for one-bedrooms and only 44 days for two-bedrooms.  The only three-bedroom unit that sold in 2014 sold for under $300 per square foot in only 114 days.

Plenty of Opportunity to Move Here
With the construction of new condominiums continuing as part of the revitalization of Edgewater, established condominiums offer plenty of opportunity to immediately move to this cool and low-key neighborhood.  It is fairly quiet as far as tourism is concerned which makes it that much more appealing for the residents of Miami who want to be away from the crowds in the other popular areas of Miami but want to maintain a more cosmopolitan lifestyle.
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