This past week, I had the opportunity to work with several clients (all Cash Buyers) who looking for purchasing opportunities in the waterfront luxury condo buildings South of Fifth Street: The Murano at Portofino, The Continuum South Beach, Murano Grande, Icon and even The Bentley Bay.

These Miami Beach Condo Buyers- are finding amazing opportunities in some of the lesser known South of Fifth Waterfront Buildings! I've recently made several cash offers at The South Pointe Tower in South Beach. Being an older condominium with late 1970"s construction standards, The South Pointe Tower had not been considered the most "IN" condo building. However, this South Beach condo offers an incredible location next to The Portofino Tower (part of the same Master Association) and has recently been renovated inside and out. Also, the common area hallways are currently being updated with new doors, carpeting, and other improvements. I'm amazed that in this older condo building- due to its amazing location South of Fifth Street (behind South Pointe Park and facing Fisher Island) - almost ALL the available inventory has sold out !!!

The Latest Sales Data for the South Pointe Tower Condos in Miami Beach's South of Fifth Neighborhood:

Despite the well known "Buyer's Market" environment in today's real estate market in Miami Beach, there's one building that stands out for commanding "TOP Dollar" :The Murano at Portofino Condominiums in South Beach's "South of Fifth" neighborhood.

What makes the Murano at Portofino Condominium Building so special?

• - Location Location Location- at the extreme southwest tip of South Beach, adjacent to The Miami Beach Marina and South Pointe Park.
• - Boutique Condominium Building- only 189 total condominium units, far less than the other surrounding luxury buildings (except Apogee).
• - A unique design, inspired by the building's namesake- with plenty of Murano glass showcasing the incredible views and contemporary decor.
• - A very well managed and impeccably maintained condominium- with a long-time professional staff that is highly motivated, knowledgeable, and provides Murano at Portofino residents with five star "white glove" service.
• - A beautiful property, with a welcoming, wide, and easily accessible circular driveway leading to both the Piaggia Beach Club and The Murano at Portofino Lobby. No Guard House to deal with in this building, which makes getting and and out easy for residents and guests alike.
• - Well proportioned and designed floorplans, with both the premier "A" / "01" floorplans in Tower One as well thought out as the smaller floorplans in Tower Three (which contains the one and two bedroom condominiums).

The closed sales prices at The Murano have (for the most part) remained strong in the face of a collapsing national real estate market Recent notable examples of Murano at Portofino lastest closed sales:

The Murano at Portofino #2401 (Premier "A" Line)
1000 South Pointe Drive
Miami Beach, FL 33139
Remarks: This is THE premier condo "01" floorplan at The Murano at Portofino
Sale Price: $3,100,000 (12/16/10)
Listed Price : $3,500,000
2010 Tax Assesed Value: $2,750,000
Previous “Sold” Price : $1,217,000 (2002)
Bedrooms: 3
Bathrooms: 3.5
Condo S.F.: 3,382 ($916/SF)
Days on Active Market (Multiple Listing): 307 Days
Discount from Asking Price: 11%

The Murano at Portofino #3401 (Premier "A" Line)
1000 South Pointe Drive
Miami Beach, FL 33139
Remarks: This is THE premier condo "01" floorplan at The Murano at Portofino
Sale Price: $2,880,000 (11/30/10)
Listed Price : $ 3,800,000
2010 Tax Assesed Value: $3,168,000
Previous “Sold” Price : $1,750,000 (2002)
Bedrooms: 3
Bathrooms: 3.5
Condo S.F.: 3,382 ($851/SF)
Days on Active Market (Multiple Listing): 834 Days
Discount from Asking Price: 24%

The Murano at Portofino #907
1000 South Pointe Drive
Miami Beach, FL 33139
Remarks: Smallest Two Bedroom "07" floorplan at The Murano at Portofino
Sale Price: $900,000 (11/30/10)
Listed Price : $995,000
2010 Tax Assesed Value: $592,700
Previous “Sold” Price : $560,000 (2003)
Bedrooms: 2
Bathrooms: 2.5
Condo S.F.: 1,390 ($683/SF)
Days on Active Market (Multiple Listing): 218 Days
Discount from Asking Price: 10%

We have several clients that are actively involved (as curators and purchasers) at the upcoming Art Basel in and around Miami and Miami Beach. Those that appreciate the true value and beauty of contemporary Art and are most active with Art Basel in Miami Beach, happen to enjoy and own in the premier contemporary South of Fifth condo buildings in Miami Beach:The Murano at Portofino, The Continuum on South Beach, The Portofino Tower, and at Apogee South Beach.

Starting on December 1 and officially closing on December 5, Art Basel in one of the premier Cotemporary Art Expositions and Sales Fairs that take place in the world. Art Basel in Greater Miami and Miami Beach is another example of the excitement, celebrities and money that comes to our Island Paradise every Winter Season. Also, every year new venues pop up during Art Basel, setting the bar even higher for a standard of excellence. Many are predicting that the Soho Beach House, the private club that opened at 43rd Street and the ocean, will be the center of the universe at this Art Basel. Members of the club include artsy types, publicists, socialites, artists, designers and actors: for example Zac Efron in Hollywood, Jude Law in London, and Zac Posen in New York. Here in Miami, the designer Niki Di Stagni signed on months before the club opened, and you can be sure that superstar basketball players and recording stars will be members.

Below are highlights of the major events that will be happening in Miami Beach. For a complete and official guide to all Art Basel Events, click HERE :

1-Dec Art Basel-Vernissage Miami Beach Convention Center 6PM-9PM Cost : None
Invitation Only-The convention center is open Dec 2nd-5th to the public for a admission fee

1-Dec Creative Caribbean Network at the Bass 2121 Park Ave. 8PM-11PM Cost : None
Opening reception 10,000 waves by Isaac Julien

Dec 3-Dec 5 Pool Art Fair at the Carlton Hotel 1433 Collins Ave.3PM-10PM Cost: $10
Pool's Purpose is to create a meeting ground for outstanding artists, primarily those that don't have gallery representation.

Dec 1-Dec 5 Aqua 10 Aqua Hotel-1530 Collins Ave. 8PM-11PM VIP Preview
Organized by Seattle artists & dealers, 40 galleries

Dec 1-Dec 5 Ink Miami Art Fair Dorchester Hotel Cost: None
1850 Collins Ave. 10AM-7PM
Organized by Seattle artists & dealers, 40 galleries

Dec 1-Dec 5 Design Miami at Design Miami Venue Meridian & 19th Ave. 12PM-8PM Cost: $25
The foremost design collectors & enthusiasts interact. with a diverse selection of exhibitions featuring rare works by pioneering modernists & one-off limited-edition pieces

Dec 1-Dec 3 The Vogue Lounge at the Raleigh Hotel 1775 Collins Ave. 12PM-9PM Cost: None
A temporary shopping lounge for Art Basel w beats by South Florida female DJ duo Ess & Emm

2-Dec 7th Annual Masters Mystery Art Show The Ritz-Carlton 2PM-7PM Cost: None
1500 artworks 6"x9" for $50

Dec 2-Dec 5 Zoom Art Fair at South Seas Hotel 1751 Collins Ave. 12PM-8PM Cost: $15
In its inaugural year, ZOOM will present a selective group of regional & international galleries representing artists from the Middle East & Diaspora. An Art Basel Satellite Event.

Dec 3-Dec 5 Verge Art Fair at The Catalina Hotel 1732 Collins Ave. 12PM-8PM Cost: $10
Verge exists to establish boundaries of the extraordinary as a counter to the natural compulsion towards stagnation.

Dec 2-Dec 5 NADA Art Fair at Deauville Resort 6701 Collins Ave. 11PM-8PM Cost: None
Presented by a not-for-profit collective of professionals working w contemporary art to create an open flow of information.

This week we've had some spectacular November Fall Days in Miami Beach, and I happen to be fortunate enough to have enjoyed the amenities at The Continuum in the South of Fifth Neighborhood. A little known fact to many visitors - located directly on the grounds of The Continuum South Tower is an excellent restaurant that is open ALL day (until 5pm). You can lunch on a gourmet salad, incredible fresh catch entrees, and plenty of other healthy fare available ONLY to residents and guests of The Continuum condos. Also, this is a SPECTACULAR place to just sit and admire the incredible views of the Ocean, the Continuum Lagoon Pools, and the impeccably landscaped & beautiful grounds.

The most desireable neighborhood within the roughly 23 block area of South Beach is the South of Fifth neighborhood, where the twelve acre Continuum grounds are located. Miami Beach's South of Fifth neighborhood is home to a few other popular luxury buildings such as The Portofino Tower, Apogee, The Murano at Portofino, Murano Grande, and Icon South Beach. South Beach is a neighborhood of Miami Beach, not a city itself, and South of Fifth is a sub-neighborhood within this 23 block area. The South of Fifth Street neighborhood became popular in the late 1990's, when the Portofino Tower began construction with Thomas Kramer as the primary developer (who was eventually replaced by Related Group's Jorge Perez). For more information about South of Fifth development history, click HERE. Arguably, the amenities of the Continuum are the BEST OF THE BEST due to the twelve incredible Oceanfront acres at the southernmost tip of Miami Beach. The nearby Apogee and Murano at Portofino are also considered premier real estate, with Apogee being the most expensive condos South of Fifth, and the Murano at Portofino featuring the famous Piaggia Beach Club.

Upon arriving at The Continuum from South of Fifth's South Pointe Drive, you'll notice the 24 hour guard gated facility that methodically restrict access ONLY to registred guests and residents. The other buildings in the immediate area that have this added level of security are the next-door Portofino Tower that shares common area with the older South Pointe Tower. However, The Continuum is a condominium property at another level of sophistication and luxury, with TWO oversized lagoon-style pools with towel service, the aforementioned restaurant, THREE lit, wind-protected sunken clay tennis courts, a 15,000 multi-level fitness center, spa, a completely gated twelve acre oceanfront complex, 24-hour roving security guards, 24-hour valets in each tower, a highly trained concierge staff, private elevators and foyers, beach towel and food services, a business center at Continuum North and South Towers, and a resort lifestyle. All of these amenities, services, a uniquely beautiful & contemporary architectural style, and a premier oceanfront location make The Continuum on South Beach a condominium property like no other!

The month of March is an exciting time for local events in and around Miami Beach! So far in 2010 we've been seeing strong tourist traffic for events such as The South Beach Wine and Food Festival, the upcoming Winter Party Festival the culminates in a massive beachfront fund-raising party right off 12th Street and Ocean Drive. In addition to being an important fundraiser, the Winter Party Festival is also a major contributor to Miami and Miami Beach's economy, this year the local Miami Beach tourist Board is expecting over 10,000 people from around the world!

Also, the 2010 Winter Music Conference will be taking place in and around Miami and Miami Beach from March 23 -27. During the week, there will be over 400 parties held at dozens of venues and outdoor spaces. This is the 25th year that this amazing music conference takes place, and each year the event attracts more visitors and the hottest music talent on the planet!

In the past few months, we've also noticed a strong increase in buyer traffic for Miami Beach's hottest real estate. For example, we just had a young (and famous) Brazilian client of ours purchase in one of Miami Beach's most popular waterfront condo buildings- The Murano at Portofino. This building happens to also host a variety of VIP events at the world-famous Piaggia Beach Club, which is located on the southern side of the main entrance.

Key Facts:
Murano at Portofino South Beach (Intracoastal & Fisher Island Views)
Pending Sales Price: $900,000
2009 Tax Assessed Value: $766,000
Previous Sales Price (2005): $975,000
Bedrooms: 2
Bathrooms: 2
Condo S.F.: 1,390 ($647/SF)

Interior Decor / Overall Condition: Beautiful decorator-appointed finishes

Note that the tax assessed value is significantly lower than the pending price. This pending sale demonstrates the resilient market value of premier condos located in luxury waterfront buildings in South Beach. If you are potentially looking to purchase, NOW is the time to take advantage of this buyer's market. We're seeing strong buyer activity from those looking to become a part of the amazing lifestyle that Miami Beach has to offer!