Allan Kleer, M.B.A., PA  :  305-798-8205 Fabian Garcia Diaz  :  305-785-8013

Sunday, April 1, 2012
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Over the past year, we're seeing Miami Beach luxury condo buyers come from all across the globe. Close to 50 percent live in another country, and the balance are people who may live in the USA and have taken advantage of the price corrections of the past few years to purchase a second (or even third) waterfront luxury property in Miami Beach. Additionally, many foreign buyers purchase under an LLC corporation as a way of hiding assets from foreign tax authorities. They tend to have a local mailing address, which can belong to a registered agent or their accountant and/or attorney's local office address.

In spite of the recent ups and downs of the real estate industry in the United States, and Greater Miami in particular, it's still a safe investment environment by global standards. Among our top clients, there's always the mindset that if something is wrong anywhere else, the U.S. is a relative safe harbor to invest cash. For example, many Latin American real estate investors are looking for a safe haven from government expropriation of private bank accounts and real estate assets, such as what occurred in Argentina and Venezuela this past decade.

Greater Miami has become the destination place for many different cultures from Latin America- with the top luxury waterfront condo buyers coming from Brazil, Argentina and Eastern European countries. Particularly for Miami Beach condo buyers, the allure to its climate, newly revitalized cultural life, security, the beaches, and its international flavor have increased the appeal of waterfront luxury condos- most especially in the premier areas such as Miami Beach's South of Fifth Street Neighborhood.

South Beach Condos - south of fifth neighborhood

In particular, ultra-luxury waterfront buildings such as The Continuum on South Beach, Apogee Miami Beach, The Portofino Tower, and The Murano at Portofino have witnessed dramatic declines in active listing inventory, and increases in sales prices. For example, the latest sales at The Continuum on South Beach have been at well over $1,350/S.F., with some even surpassing the "boom" market real estate highs of $2,547/S.F. (see the latest Miami Beach luxury condo listing inventory and closed sales at bottom of this post).

Total Available / Active "For Sale" Condos - Most Popular Miami Beach Luxury Waterfront Buildings:

Apogee Miami Beach: 6($2,200/ S.F. Average ASKING Price)
The Continuum North Tower: 49($1,262/ S.F. Average ASKING Price)
The Continuum South Tower: 19 ($2,353/ S.F. Average ASKING Price)
The Portofino Tower: 18 ($932/ S.F. Average ASKING Price)
Murano at Portofino: 13 ($1,450/ S.F. Average ASKING Price)
Murano Grande:18($788/ S.F. Average ASKING Price)
Icon South Beach: 33 ($1,062/ S.F. Average ASKING Price)
The Bentley Bay (North & South Towers): 9 ($630/ S.F. Average ASKING Price)
Il Villaggio on Ocean Drive: 10($1,419/ S.F. Average ASKING Price)

Total Condos Available for Sale from Above Referenced Miami Beach Buildings: 175
Total Average Listing Inventory (per Miami Beach Condo): 19

Total 180 Days Closed Sales of Above Referenced Miami Beach Condos: 71
Months of Supply for Above Referenced Miami Beach Condo Buildings: 2.5 (just ten weeks supply!!!)

Miami Beach Condo Sales and Listing Inventory Conclusions:

Traditionally, a six month supply of listing inventory is considered to be a normal & healthy real estate market. Given that we now have UNDER a three month supply in the nine above referenced Miami Beach waterfront condo buidings, expect sales prices to continue a strong UPWARD trend.

Miami Beach Condos- 180 Days Closed Sales
Closing DateADDRESSMiami Beach Condo LA Sales Price SP$/SqFt
3/30/2012300 S POINTE DR # 3606PORTOFINO TOWERS1,960 $ 1,610,000 $ 821
3/28/20121455 OCEAN DR # 1107Il Villaggio1,810 $ 2,150,000 $ 1,188
3/27/2012400 ALTON RD # 3303MURANO GRANDE3,284 $ 2,950,000 $ 898
3/19/20121455 OCEAN DR # 1008Il Villaggio2,824 $ 3,750,000 $ 1,328
3/12/2012300 S POINTE DR # 505PORTOFINO TOWERS2,340 $ 875,000 $ 374
3/9/2012400 ALTON RD # 1702Murano Grande1,874 $ 1,100,000 $ 587
3/8/2012100 S POINTE DR # 1402Continuum South Tower1,201 $ 1,380,000 $ 1,149
3/5/2012100 S POINTE DR # 1009CONTINUUM SOUTH1,595 $ 1,800,000 $ 1,129
3/4/2012100 S POINTE DR # 3205Continuum South1,870 $ 2,562,500 $ 1,370
2/28/2012400 ALTON RD # 2004MURANO GRANDE1,425 $ 1,100,000 $ 772
2/24/2012520 WEST AV # 1403Bentley Bay776 $ 340,000 $ 438
2/24/201250 S POINTE DR # 702CONTINUUM II2,264 $ 2,700,000 $ 1,193
2/24/201250 S POINTE DR # 1504Continuum1,443 $ 1,381,000 $ 957
2/24/2012450 ALTON RD # 3108ICON South Beach851 $ 645,000 $ 758
2/23/2012450 ALTON RD # 2407Icon1,815 $ 1,400,000 $ 771
2/21/20121000 S POINTE DR # TH-A7MURANO AT PORTOFINO1,207 $ 551,000 $ 457
2/19/2012100 S POINTE DR # 2002CONTINUUM ON SOUTH BEACH1,201 $ 1,450,000 $ 1,207
2/17/201250 S POINTE DR # PH 1CONTINUUM ON SOUTH BEACH6,360 $ 16,200,000 $ 2,547
2/16/201250 S POINTE DR # 1707Continuum on South Beach1,443 $ 1,675,000 $ 1,161
2/15/2012540 WEST AV # 1513THE BENTLEY BAY777 $ 375,000 $ 483
2/13/2012100 S POINTE DR # 1510Continuum on South Beach2,122 $ 2,200,000 $ 1,037
2/9/2012100 S POINTE DR # 1007THE CONTINUUM1,870 $ 2,200,000 $ 1,176
2/7/2012450 ALTON RD # 2005ICON1,750 $ 1,250,000 $ 714
2/6/2012100 S POINTE DR # 2102Continuum South Tower1,201 $ 1,350,000 $ 1,124
2/4/2012100 S POINTE DR # 3207Continuum South Tower2,954 $ 4,500,000 $ 1,523
1/30/2012300 S POINTE DR # 4306Portofino Towers2,360 $ 2,000,000 $ 847
1/26/2012520 WEST AV # 1005the bentley bay1,210 $ 502,000 $ 415
1/26/20121000 S POINTE DR # 802MURANO AT PORTOFINO2,618 $ 2,287,500 $ 874
1/23/201250 S POINTE DR # 2303CONTINUUM II SOUTH BEACH1,922 $ 2,000,000 $ 1,041
1/19/20121000 S POINTE DR # 1103MURANO AT PORTOFINO2,008 $ 1,850,000 $ 921
1/17/2012450 ALTON RD # 610ICON SOUTH BEACH1,370 $ 600,000 $ 438
1/16/2012400 ALTON RD # 2506MURANO GRANDE2,024 $ 1,475,000 $ 729
1/13/2012450 ALTON RD # 3703ICON2,158 $ 1,610,000 $ 746
1/10/20121455 OCEAN DR # 703Il Villaggio Condominium1,550 $ 1,980,000 $ 1,277
1/8/2012300 S POINTE DR # 2304Portofino Tower2,040 $ 1,300,000 $ 637
12/30/2011520 WEST AV # 803THE BENTLEY BAY CONDO776 $ 325,000 $ 419
12/22/2011540 WEST AV # 1211Bentley Bay1,252 $ 565,000 $ 451
12/21/2011100 S POINTE DR # 2904Continuum on South Beach2,985 $ 3,300,000 $ 1,106
12/19/201150 S POINTE DR # 2004CONTINUUM ON SOUTH BEACH1,491 $ 1,730,000 $ 1,160
12/19/2011300 S POINTE DR # 904PORTOFINO TOWER1,160 $ 516,000 $ 445
12/16/20111455 OCEAN DR # 1405IL VILLAGGIO2,310 $ 3,999,995 $ 1,732
12/16/2011100 S POINTE DR # 2801CONTINUUM ON SOUTH BEACH1,591 $ 1,750,000 $ 1,100
12/15/2011540 WEST AV # 713The Bentley Bay Condo777 $ 310,500 $ 400
12/13/2011800 S POINTE DR # 2103APOGEE SOUTH BEACH3,103 $ 5,508,200 $ 1,775
12/12/2011100 S POINTE DR # 604Continuum South Tower2,292 $ 2,665,000 $ 1,163
12/6/20111455 OCEAN DR # 1605Il Villaggio2,310 $ 3,900,000 $ 1,688
12/5/2011300 S POINTE DR # 1203PORTOFINO TOWERS2,340 $ 1,737,000 $ 742
12/5/2011450 ALTON RD # 2910ICON1,370 $ 950,000 $ 693
12/1/2011300 S POINTE DR # 1704Portofino Tower2,040 $ 1,300,000 $ 637
11/30/2011400 ALTON Rd # 802MURANO GRANDE1,874 $ 735,000 $ 392
11/28/2011400 ALTON RD # 505MURANO GRANDE AT PORTOFIN1,400 $ 571,000 $ 408
11/23/2011100 S POINTE DR # 1106/7Continuum South Tower4,378 $ 5,200,000 $ 1,188
11/21/2011540 WEST AV # 1612BENTLEY BAY779 $ 302,500 $ 388
11/18/20111455 OCEAN DR # 907IL VILLAGGIO1,919 $ 2,200,000 $ 1,146
11/18/2011100 S POINTE DR # 3602Continuum on South Beach1,791 $ 2,300,000 $ 1,284
11/18/20111455 OCEAN DR # 1411IL VILLAGGIO1,370 $ 1,025,000 $ 748
11/14/201150 S POINTE DR # 2403CONTINUUM ON SOUTH BEACH1,992 $ 2,250,000 $ 1,130
11/14/201150 S POINTE DR # 2003Continuum On South Beach1,451 $ 1,550,000 $ 1,068
11/10/2011450 Alton # 3606Icon1,452 $ 762,000 $ 525
11/3/2011300 S POINTE DR # 405PORTOFINO TOWERS2,340 $ 980,000 $ 419
10/27/2011300 S POINTE DR # 805Portofino2,340 $ 1,225,000 $ 524
10/27/2011800 S POINTE DR # 1603Apogee2,756 $ 6,000,000 $ 2,177
10/25/2011100 S POINTE DR # 705CONTINUUM1,869 $ 1,750,000 $ 936
10/24/2011520 WEST AV # 1602BENTLEY BAY CONDO1,929 $ 645,000 $ 334
10/18/20111455 OCEAN DR # 1506IL VILLAGGIO1,780 $ 1,850,000 $ 1,039
10/14/20111000 S POINTE DR # 2104MURANO AT PORTOFINO2,190 $ 2,250,000 $ 1,027
10/13/201150 S POINTE DR # 505Continuum North Tower747 $ 490,000 $ 656
10/10/2011100 S POINTE DR # 3004CONTINUUM ON SOUTH BEACH2,508 $ 3,495,000 $ 1,394
10/6/2011300 S POINTE DR # 709PORTOFINO TOWER1,090 $ 570,000 $ 523
9/30/2011540 WEST AV # 813THE BENTLEY BAY777 $ 320,000 $ 412

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Saturday, April 30, 2011
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The past four months of miami beach condo sales have been impressive, continuing to buck national real estate trends. Miami Beach real estate, especially for premier condo buildings in South Beach's highly desired South of Fifth neighborhood, continues to be in strong demand.

As the Spring / Winter season in Miami Beach comes to an end, we are continuing to see strong buyer demand for premier waterfront homes and condos. Especially in the premier waterfront luxury condo buildings, such as The Murano at Portofino, Continuum North and South Towers, Icon South Beach, Apogee, and The Il Villagio demand is outpacing supply causing condo price appreciation!Further North, along Collins Avenue, premier Oceanfront buildings such as The Setai, The Bath Club, The Akoya, and The Blue and Green Diamond condo buildings have seen impressive sales momentum in the 2010 - 2011 selling season.

Indeed, overall Miami Beach condo sales have been SO strong, that we've had many frustrated Buyers decide to purchase condos which were further down on their list desired preferences / amenities. We've had several of our top clients decide to purchase waterfront condos in Miami Beach that require extensive remodelling, since they were outbid for the premier Miami Beach corner condos with direct Oceanfront and/or Biscayne Bay views.

The last ninety days of $1 Million + Waterfront Miami Beach Condo Sales for zip codes 33139 and 33140:

Past Ninety Days Sales Miami Beach Condos - $1 Million + (Waterfront)
Closing DateADDRESSMiami Beach Condo Living Area Sales Price
4/27/20111455 OCEAN DR # BH-06IL VILLAGGIO3,550 $ 3,025,000
4/26/20111000 S POINTE DR # 1705Murano at Portofino1,407 $ 1,250,000
4/4/2011400 ALTON RD # 3203MURANO GRANDE3,058 $ 2,021,000
4/19/2011400 ALTON RD # 703Murano Grande3,058 $ 1,620,000
3/4/20111000 S POINTE DR # 3702MURANO AT PORTOFINO2,618 $ 2,200,000
2/7/2011100 S POINTE DR # 1110Continuum South2,122 $ 1,900,000
4/20/20111445 16 # LP-1CAPRI SOUTH BEACH2,970 $ 2,500,000
4/27/20111500 OCEAN DR # 10011500 OCEAN DRIVE2,320 $ 2,745,000
2/9/2011101 20 ST # 2708The Setai1,141 $ 2,100,000
4/18/2011800 S POINTE DR # PHAAPOGEE6,853 $11,500,000
4/25/2011100 S POINTE DR # TH-15The Continuum2,072 $ 1,425,000
3/1/2011100 S POINTE DR # 1005Continuum South Tower1,869 $ 1,650,000
3/7/2011450 ALTON RD # 1205Icon South Beach1,750 $ 855,000
2/14/2011400 S POINTE DR # 1510SOUTH POINTE TOWER1,559 $ 975,000
3/9/20111455 OCEAN DR # 1406Il Villaggio Condominium1,780 $ 1,900,000
4/29/2011300 S POINTE DR # 1802PORTOFINO TOWERS2,040 $ 1,480,000
3/14/20112201 Collins Ave # 828W South Beach Residences1,906 $ 3,300,000
4/28/20111000 S POINTE DR # 3502Murano at Portofino2,618 $ 2,200,000
3/28/2011400 ALTON RD # 1704Murano Grande1,425 $ 1,050,000
3/7/2011300 S POINTE DR # 1101PORTOFINO TOWERS2,340 $ 1,625,000
4/15/20111455 OCEAN DR # 1407IL VILLAGGIO1,810 $ 2,050,000
2/28/2011400 ALTON RD # 2404MURANO GRANDE2,974 $ 1,950,000
4/3/2011101 20 ST # 2308The Setai Condominium2,558 $ 4,600,000
4/8/2011100 S POINTE DR # 3204Continuum2,508 $ 3,270,000
2/11/2011450 ALTON RD # 3210ICON1,370 $ 940,000
4/12/20111800 SUNSET HARBOUR DR # 2202/4Sunset Harbour South2,246 $ 1,100,000
3/2/20111445 16 # LPH-3CAPRI SOUTH BEACH1,919 $ 1,392,000
3/16/20111445 16 ST # BL-302CAPRI SOUTH BEACH1,842 $ 1,680,000
4/15/20111470 16 ST # C301CAPRI SOUTH BEACH1,974 $ 1,925,000
3/2/20111100 WEST AV # TS-1Mondrian South Beach1,500 $ 1,395,000
3/23/2011800 S POINTE DR # 1402Apogee3,103 $ 4,995,000
2/25/20111000 S POINTE DR # 3002Murano at Portofino2,618 $ 1,880,000
3/18/2011450 ALTON RD # 3001ICON South Beach2,145 $ 1,800,000
3/5/20111000 S POINTE DR # 3102MURANO AT PORTOFINO2,618 $ 2,250,000
3/8/2011101 20 ST # 1701The Setai3,691 $ 3,950,000
2/22/2011100 S POINTE DR # 2901Continuum South Tower1,591 $ 1,550,000
2/22/2011400 ALTON RD # 2308Murano Grande1,600 $ 1,200,000
4/4/2011400 ALTON RD # 2208Murano Grande1,600 $ 1,200,000
4/14/2011400 ALTON RD # 2306Murano Grande2,024 $ 1,485,000
2/9/2011450 ALTON RD # 2002THE ICON1,933 $ 1,050,000
2/2/2011100 S POINTE DR # 1705Continuum1,869 $ 1,500,000
3/30/2011450 ALTON RD # 1502ICON South Beach1,933 $ 1,105,000
4/14/20111800 SUNSET HARBOUR DR # 1202/4Sunset Harbour South2,246 $ 1,125,000
3/10/2011300 S POINTE DR # 1605PORTOFINO2,340 $ 1,400,000
3/23/2011300 S POINTE DR # 3703PORTOFINO TOWERS2,550 $ 1,600,000
4/12/201150 S POINTE DR # 3003CONTINUUM NORTH TOWER2,306 $ 2,700,000
3/11/2011400 ALTON RD # 1904Murano Grande1,425 $ 1,025,000
3/18/20111500 OCEAN DR # 4051500 OCEAN DRIVE1,530 $ 1,040,000
4/19/2011100 S POINTE DR # 2401CONTINUUM ON SOUTH BEACH1,591 $ 1,350,000
3/23/2011450 ALTON RD # 3502ICON Condo1,933 $ 1,470,000
3/17/20111500 OCEAN DR # PH-81500 Ocean Drive1,170 $ 975,000
4/28/2011100 S POINTE DR # 1603CONTINUUM ON SOUTH BEACH1,365 $ 1,100,000
4/1/20116365 COLLINS AV # 2103AKOYA CONDOMINIUM1,761 $ 935,000
2/18/20115959 COLLINS AV # 705THE BATH CLUB3,807 $ 1,800,000
3/3/20114391 Collins # 722723Fontainebleau IIISorrento1,742 $ 980,000
2/25/20113737 COLLINS AV # S-502Caribbean2,326 $ 1,475,000
2/16/20115959 COLLINS AV # 802The Bath Club2,572 $ 1,400,000
3/22/20114775 COLLINS AV # 2503GREEN DIAMOND1,980 $ 1,295,000
4/28/20113737 COLLINS AV # S-1303The Caribbean1,621 $ 975,000
4/20/20115959 COLLINS AV # 607THE BATHCLUB CONDO2,959 $ 1,000,000

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Friday, March 25, 2011
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This past week, I had the opportunity to work with well qualified (cash) buyers looking to purchase a waterfront two bedroom condominium in Miami Beach's South of Fifth neighborhood. These specific clients have been looking for just the "right" deal and have had approximately eight of their top choices sold in the past three months. Their budget is in from $1 Million to $1.5 Million, and six months ago their were quite a few choices in the Portofino Tower, The Continuum North and South Towers, the Murano at Portofino, The Murano Grande and Icon with direct water views. Today, the choices at Icon and The Murano Grande are very limited, and practically non-existent in this price range (with water views) at The Continuum Condos on South Beach and at The Murano at Portofino. The Portofino Tower still has a few distressed units available, but only on the less desireable lower floors with very limited views of Miami Beach.

These clients have now widened their criteria, and today they told me that they've grown tired of "chasing the market". This is the first time, in a long time, that I've heard this term applied in a way that demonstrates a market that is challenging for BUYERS.

The Last 90 Days of Closed Sales - South Beach Waterfront Condominiums:


Miami Beach Waterfront Condomimium Closed Sales
Closing DateADDRESSCondo BuildingSquare Ft.LP$/SqFtSales Price
3/23/2011520 WEST AV # 1102THE BENTLEY BAY CONDO1,499 $ 400 $ 500,000
12/28/201050 S POINTE DR # 804Continuum II1,491 $ 801 $ 1,145,000
3/4/20111000 S POINTE DR # 3702MURANO AT PORTOFINO2,618 $ 936 $ 2,200,000
3/7/20111000 S POINTE DR # 408Murano At Portofino1,791 $ 502 $ 830,000
3/24/20111000 S POINTE DR # 1206MURANO AT PORTOFINO1,006 $ 790 $ 650,000
1/28/2011400 ALTON RD # LPH11MURANO GRANDE1,649 $ 603 $ 912,500
2/7/2011100 S POINTE DR # 1110Continuum South2,122 $ 966 $ 1,900,000
3/17/2011400 ALTON RD # 905MURANO GRANDE1,400 $ 400 $ 505,000
3/16/201150 S POINTE DR # 504Continuum North Tower747 $ 669 $ 470,000
3/1/2011100 S POINTE DR # 1005Continuum South Tower1,869 $ 960 $ 1,650,000
2/14/2011400 S POINTE DR # 1510SOUTH POINTE TOWER1,559 $ 767 $ 975,000
1/16/2011100 S POINTE DR # 1007CONTINUUM ON SOUTH BEACH1,870 $ 1,203 $ 1,999,000
1/21/20111000 S POINTE DR # 705Murano@Portofino1,407 $ 853 $ 1,075,000
3/18/2011400 S POINTE DR # 1107south pointe towers condo858 $ 641 $ 525,000
12/29/2010450 ALTON RD # 3405ICON3,094 $ 646 $ 1,700,000
1/12/2011450 ALTON RD # 1201ICON South Beach2,145 $ 744 $ 1,465,000
1/24/2011450 ALTON RD # 1006ICON CONDO1,452 $ 406 $ 590,000
3/14/20111000 S POINTE DR # 405MURANO AT PORTOFINO 1,407 $ 888 $ 900,000
3/7/2011300 S POINTE DR # 1101PORTOFINO TOWERS2,340 $ 724 $ 1,625,000
2/28/2011400 ALTON RD # 2404MURANO GRANDE2,974 $ 657 $ 1,950,000
2/9/2011400 ALTON RD # 611MURANO GRANDE1,649 $ 382 $ 600,000
1/14/201150 S POINTE DR # 1604Continuum North1,491 $ 888 $ 1,260,000
2/11/2011450 ALTON RD # 3210ICON1,370 $ 766 $ 940,000
3/10/201190 ALTON RD # 2009YACHT CLUB AT PORTOFINO1,080 $ 505 $ 500,000
1/26/2011200 OCEAN DR # 7E200 OCEAN DR1,240 $ 935 $ 1,040,000
1/3/2011300 S POINTE DR # 603PORTOFINO TOWERS2,340 $ 391 $ 905,000
3/2/20111100 WEST AV # TS-1Mondrian South Beach1,500 $ 1,130 $ 1,395,000
3/23/2011800 S POINTE DR # 1402Apogee3,103 $ 1,724 $ 4,995,000
2/25/20111000 S POINTE DR # 3002Murano at Portofino2,618 $ 877 $ 1,880,000
1/5/2011400 S POINTE DR # 2104South Pointe Tower1,802 $ 663 $ 925,000
1/4/2011100 S POINTE DR # 1002Continuum on south Beach1,201 $ 812 $ 930,000
3/18/2011450 ALTON RD # 3001ICON South Beach2,145 $ 932 $ 1,800,000
3/5/20111000 S POINTE DR # 3102MURANO AT PORTOFINO2,618 $ 951 $ 2,250,000
3/3/20111100 WEST AV # 1414The Mondrian750 $ 799 $ 510,000
2/22/2011100 S POINTE DR # 2901Continuum South Tower1,591 $ 1,003 $ 1,550,000
2/22/2011400 ALTON RD # 2308Murano Grande1,600 $ 813 $ 1,200,000
2/9/2011450 ALTON RD # 2002THE ICON1,933 $ 543 $ 1,050,000
2/2/2011100 S POINTE DR # 1705Continuum1,869 $ 843 $ 1,500,000
3/18/2011450 ALTON RD # 3306ICON CONDO1,452 $ 434 $ 655,000
3/10/2011300 S POINTE DR # 1605PORTOFINO2,340 $ 639 $ 1,400,000
3/11/2011400 ALTON RD # 1904Murano Grande1,425 $ 772 $ 1,025,000
3/23/2011450 ALTON RD # 3502ICON Condo1,933 $ 822 $ 1,470,000

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Wednesday, December 29, 2010
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While working with waterfront homebuyers and condominium buyers just before the Holidays, I noticed that there is an increasing number of recent Miami Beach homeowners attempting to do a quick property flip (for a profit). This is showing up with luxury Miami Beach waterfront homes and condominiums that are located in the luxury island communities of Miami Beach.

How soon homeowners will be able to make a quick profit in a Buyer's market environment is still yet to be determined. Those savvy enough to have picked up REALLY CHEAP properties, especially those who managed to purchase deeply discounted Short Sales and REO (Foreclosure / Bank-owned) homes and condos in Miami Beach at the absolute bottom of the market have a good chance of pulling it off in 2011.

What I've been most impressed with is that these Miami Beach "flip" homes and condos happen to be among the best deals currently on the market. There's a much reduced inventory of well priced waterfront homes and condos available for sale in Miami Beach as we close out 2010.

A few examples of high potential "flip" scenarios currently on the market:

Miami Beach Home

Breathtaking North Bay Road Estate - Miami Beach Home
5150 North Bay Road
Miami Beach, FL 33140
Remarks: 105 feet of waterfrontage, with six bedrooms / 6.5 baths, Private Boat Slip, beautifully appointed Grand Estate-type home with imported marble and completely updated throughout.
Sale Price: $3,750,000 (2/10)
Currently Listed Price : $ 5,490,000
2010 Tax Assesed Value: $3,727,000
Bedrooms: 6
Bathrooms: 6.5
House S.F.: 6,360
Days on Active Market (Multiple Listing): 70+ Days

Murano Condo Miami Beach

The Murano at Portofino - Miami Beach Condominium
1000 South Pointe Drive #3102
Miami Beach, FL 33139
Remarks: Second largest floorplan at Murano at Portofino condos with two terraces and incredible Ocean, Intracoastal, Fisher Island, and Downtown Miami skyline Views. Extra large kitchen with enhanced views!
Sale Price: $1,925,000 (6/10)
Currently Listed Price : $2,490,000
2010 Tax Assesed Value: $2,092,000
Bedrooms: 3
Bathrooms: 3.5
Condo S.F.: 2,618
Days on Active Market (Multiple Listing): 30+ Days

Murano Grande Miami Beach Condominium

The Murano Grande - Miami Beach Condominium
400 Alton Road #2309
Miami Beach, FL 33139
Remarks: Immaculate Two Bedroom split floorplan with direct Ocean views and large balcony. Miele kitchen with enhanced views!
Foreclosure Sale Price: $327,000 (1/10)
Currently Listed Price : $749,000
2010 Tax Assesed Value: $604,810
Bedrooms: 2
Bathrooms: 2
Condo S.F.: 1,437
Days on Active Market (Multiple Listing): 300+ Days

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Friday, October 22, 2010
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I'm constantly asked, who's buying in these challenging economic times?The answer is highly qualified end-users primarily from Europe and Latin America! Based on my recent experience, Eastern and Central Europeans, Brazilians, some Venezualan and Colombia, and Argentine high net worth individuals. Today's buyers primarily look for premier waterfront luxury homes and condominiums in South Beach as a great investment opportunity given the recent price reductions and limited inventory.

Especially in such premier waterfront ultra-luxury condo buildings such as The Continuum North and South Towers, Icon South Beach, The Murano Grande, Murano at Portofino, and Apogee Condos have drawn strong European and Brazilian luxury buyer interest.

Miami Beach Condos Continuum South Beach

It's my belief hat these condo buildings draw strong international buyer attention due to their prime waterfront locations in the Miami Beach's South of Fifth Neighborhood / District. These contemporary condominium buildings are located in an area of Miami Beach with stringent building restrictions (no waterfront land is available for future development). Also, The Continuum on South Beach boasts such amenities as TWELVE amazing Oceanfront acres at the Southernmost tip of Miami Beach. The individual condominiums in all of the mentioned buildings feature a minimum of 9' floor to ceiling sliding glass doors and windows, top of the line European Kitchens, incredible views of the Ocean, The Downtown Miami skyline. All of these condos feature oversized bathrooms with whirlpool bathtubs, European cabinetry in Bathrooms and Kitchens, private beach and pool cabanas, and state-of-the-art amenities.

For example, at The Continuum on South Beach, residents have an on-site three-story fitness center (A Marco Borges Concept) with an incredible selection of free weights, yoga and pilates classes, a private lap pool, THREE sunken Oceanfront Tennis Courts, Men's and Women's private jacuzzi's, massage rooms, as well as steam rooms and dry saunas.

A common cliche is that real estate is all about location location location (and long term supply and demand). Luxury waterfront condominiums in Miami Beach, and particularly in South Beach's South of Fifth Neighborhood, are an excellent example of the BEST location with VERY LIMITED future supply. Due to Art Deco Preservation League & City of Miami Beach zoning restrictions, NO new waterfront buildings are to be built for the foreseeable future.

That's right, NO new supply is planned, given the current physical and legal constraints imposed by the City of Miami Beach. The Murano at Portofino, The Portofino Tower, Apogee, Icon South Beach, The Murano Grande, and The Continuum on South Beach's are all direct waterfront condo buildings. All of these luxury condo buildings are located in the heart of the South Beach's South of Fifth Neighborhood- with world-class food, boutiques, and the many other unique attractions within Ten minutes walking distance!

Is this a fantastic medium to long-term investment opportunity? Come and take a look at a few of the condominiums I highlighted in this post, and decide for yourself!

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