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

Wednesday, October 5, 2011
 Share

Miami Beach Condo Sales Latest Update

I'm providing our readers the latest sales update for Miami Beach condos that have been sold over the past ninety days for a minimum of $500,000 and above. A few highlights from the Miami Beach condos sales data at the bottom of this post:

- We're witnessing the most active luxury condo market in over five years. The number of closed sales transactions has jumped almost 20%!

- Nearly 70% of purchases / Miami Beach condos closed sales were cash transactions. High end condo sales defined the market, all price indicators jumped in this subsection of the overall Miami Beach condo market.

- The majority of purchasers can be divided into two groups- High net worth foreign buyers and high net worth buyers from the Northeastern U.S. (primarily New York metropolitan area).

- The average price per square foot has increased dramatically for high demand waterfront luxury condo buildings in the premier areas of Miami Beach, such as the South of Fifth neighborhood and in select Oceanfront luxury buildings.

The average sales price (per square foot) for these specific ultra-luxury South Beach condos buildings are listed below. Sales data is based on year-to-date Miami Beach condos closed sales of over $1 Million Dollars:

South of Fifth Specific Condo Buildings

Apogee South Beach Condos: $1,713 / S.F. (Average Sales Price = $7,174,000)
The Continuum on South Beach (North and South Towers): $1,404 / S.F. (Average Sales Price = $5,056,000)
The Murano at Portofino: $853 / S.F. (Average Sales Price = $2,166,000)
Icon South Beach: $744 / S.F. (Average Sales Price = $1,860,000)
The Murano Grande: $694 / S.F. (Average Sales Price = $1,727,100)
The Portofino Tower Miami Beach: $628 / S.F. (Average Sales Price = $1,413)

Miami Beach's Boutique Ultra-Luxury Condo Building on Ocean Drive:
The Il Villaggio South Beach: $1,025 / S.F. (Average Sales Price = $2,037)

Miami Beach Condo Sales 2011

Miami Beach Condos Sold (Past Ninety Days Closed Sales)

Miami Beach Condos Sold (Past Ninety Days)
Sale DateMiami Beach AddressMiami Beach Condo List Price Living Area Sales Price SP$/SqFt
10/3/201120 ISLAND AV # 514BELLE PLAZA CONDO$569,0001,372$540,000$394
10/3/20116365 COLLINS AV # 3308AKOYA$530,0001,322$530,000$401
9/30/2011101 20 ST # 2001Setai$1,150,0001,198$1,105,000$922
9/30/2011730 3 ST # 201Armitage Place$890,0002,290$780,000$341
9/29/2011400 ALTON RD # 2206Murano Grande$1,525,0002,024$1,418,000$701
9/29/201150 S POINTE DR # 1606Continuum North$1,645,0001,698$1,500,000$883
9/28/20116515 COLLINS AV # 1402Bel-Aire$599,0001,141$579,150$508
9/27/20112201 COLLINS AV # 514W South Beach Residence$1,630,0001,151$1,590,000$1,381
9/27/20115875 COLLINS AV # 1907MEI$600,0001,323$565,000$427
9/27/201150 S POINTE DR # 2205Continuum North Tower$2,300,0001,862$2,300,000$1,235
9/26/201190 ALTON RD # 3010YACHT CLUB AT PORTOFINO$799,0001,090$710,000$651
9/26/2011101 20 ST # 2007Setai$2,550,0001,279$2,300,000$1,798
9/22/20111413 SUNSET HARBOUR DR # 604sunset harbour th$995,0003,000$882,500$294
9/22/20116580 INDIAN CREEK DR # PH601Regatta$749,0001,768$670,000$379
9/21/20114775 COLLINS AV # 2102GREEN DIAMOND$1,050,0001,530$870,000$569
9/21/20115151 COLLINS AV # 924seacoast condo$620,0001,360$580,000$426
9/20/20111000 VENETIAN WY # 1904ONE THOUSAND VENETIAN$724,5001,720$749,900$436
9/20/20112555 COLLINS AV # 1209CLUB ATLANTIS$549,0001,034$527,500$510
9/20/201111 ISLAND AV # 1812Costa Brava$535,0001,917$500,000$261
9/19/2011100 S POINTE DR # 2909Continuum on South Beach$24,000,0002,122$2,300,000$1,084
9/17/2011800 S POINTE DR # 2101APOGEE$8,395,0004,154$7,500,000$1,805
9/16/20116899 COLLINS AV # 2204Canyon Ranch$2,200,0002,150$1,855,250$863
9/16/2011400 S POINTE DR # 1401SOUTH POINTE TOWER$775,0001,165$775,000$665
9/15/20114401 COLLINS AV # 1206FONTAINEBLEAU II/ TRESOR$559,0001,002$537,500$536
9/14/201150 S POINTE DR # 2302CONTINUUM ON SOUTH BEACH$5,300,0003,017$5,000,000$1,657
9/13/2011320 MERIDIAN AV # 320320 Meridian$695,0001,765$610,000$346
9/12/2011100 S POINTE DR # 701Continuum, South Tower$1,600,0001,591$1,500,000$943
9/12/20111100 WEST AV # 1426Mondrian South Beach$725,0001,088$655,000$602
9/12/2011220 21 street # 402BOULAN SOUTH BEACH$799,000996$725,000$728
9/11/2011100 S POINTE DR # 3502Continuum on South Beach$1,895,0001,791$1,800,000$1,005
9/9/201190 ALTON RD # 2011YACHT CLUB AT PORTOFINO$650,0001,130$640,000$566
9/8/20113801 COLLINS AV # 1505MOSAIC$895,0001,525$830,000$544
9/7/20111 CENTURY LN # 401THE VISTAS CONDOUNIT.$875,0002,140$825,000$386
9/6/201111 ISLAND AV # 110201Costa Brava Condo$1,200,0003,834$900,000$235
9/6/2011101 20 ST # 1805THE SETAI$850,000821$700,000$853
9/6/20116103 AQUA AV # PH2Aqua Allison Island$755,0002,318$830,000$358
9/5/20116801 COLLINS AV # C305CANYON RANCH CONDO$1,200,0001,285$1,200,000$934
9/3/2011155 N SHORE DR # 155-5Avanti Townhomes$599,9002,366$525,000$222
9/2/20113801 COLLINS AV # 602MOSAIC$895,0001,507$850,000$564
9/1/20114779 COLLINS AV # 3701BLUE & GREEN DIAMOND COND$1,499,0001,980$1,350,000$682
9/1/20112201 COLLINS AV # 907W South Beach$710,000574$640,000$1,115
8/31/20116103 AQUA AV # 105Aqua$775,0002,338$660,000$282
8/31/201190 ALTON RD # 911Yacht Club$549,0001,130$515,000$456
8/30/20116365 COLLINS AV # 3302AKOYA$699,0001,392$650,000$467
8/30/20115757 COLLINS AV # 1905L'EXCELLENCE$880,0001,980$650,000$328
8/30/201110 VENETIAN WY # 1404Grand Venetian$750,0001,477$600,000$406
8/30/20116767 COLLINS AV # TS2205THE STERLING$699,0002,160$660,000$306
8/30/2011401 JEFFERSON AV # 4The Jefferson$595,0001,259$575,000$457
8/29/20111100 WEST AV # 1516Mondrian$745,0001,190$675,000$567
8/29/20112201 Collins Ave # 1007W South Beach Residences$790,000574$790,000$1,376
8/26/2011800 S Pointe # 1001Apogee$7,500,0004,154$6,800,000$1,637
8/24/20112301 COLLINS AV # 907RONEY PALACE$645,0001,230$550,000$447
8/24/20115959 COLLINS AV # 1402Bath Club$2,299,0002,572$2,075,000$807
8/23/20116899 COLLINS AV # 1709CANYON RANCH$575,000820$575,000$701
8/23/20116899 COLLINS AV # N1807CANYON RANCH$1,490,0001,565$1,490,000$952
8/23/20114400 COLLINS AVENUE # 2412FONTAINEBLEAU II/TRESOR$685,0001,002$625,000$624
8/22/20114779 COLLINS AV # 1801BLUE DIAMOND CONDO$1,260,0001,980$1,165,000$588
8/21/2011401 JEFFERSON AV # 3The Jefferson$575,0001,256$565,000$450
8/17/201150 S POINTE DR # 2105CONTINUUM THE NORTH TOWER$2,950,0001,922$2,900,000$1,509
8/16/20116515 COLLINS AV # 1709Bel-Aire on the Ocean$599,0001,128$552,500$490
8/16/20114441 COLLINS AV # 2811Fontanebleau II$729,0001,002$665,000$664
8/15/2011834 Ocean Drive # 402CASA GRANDE$750,000900$660,000$733
8/12/20115959 COLLINS AV # 1501The Bath Club$1,350,0002,059$1,215,000$590
8/11/20112201 Collins Ave # UPH 3W South Beach$6,500,0002,428$5,200,000$2,142
8/11/20112301 COLLINS AV # 808Roney Palace$525,0001,230$510,000$415
8/10/20114775 COLLINS AV # 3301Green Diamond$2,700,0005,520$2,700,000$489
8/9/20115875 COLLINS AVE # 1403MEI CONDOMINIUM$876,0001,148$770,000$671
8/9/20117330 OCEAN TER # 1902ST TROPEZ OCEAN CONDO$639,9001,680$600,000$357
8/5/2011100 JEFFERSON AV # 10021COURTS AT SOUTH BEACH$1,450,0002,620$1,300,000$496
8/4/20111000 VENETIAN WY # 5081000 VENETIAN WAY$559,0001,370$535,000$391
8/4/2011650 WEST AV # 911THE FLORIDIAN$599,0001,147$565,000$493
8/4/20111330 WEST AV # 2902The Waverly$630,0001,262$585,000$464
8/4/20116301 COLLINS AV # TS5LA GORCE PALACE$790,0001,440$735,000$510
8/3/2011100 LINCOLN RD # 748DECOPLAGE CONDOMINIUM$750,0001,190$740,000$622
8/3/2011400 S POINTE DR # 603SOUTH POINTE TOWER$895,0001,271$800,000$629
8/3/20115959 COLLINS AV # 1501The Bath Club$1,350,0002,059$1,215,000$590
8/2/2011221 JEFFERSON AV # 14ILONA CONDOMINIUM$619,0001,079$585,000$542
8/2/20114775 COLLINS AV # 1404Green Diamond$674,9001,490$644,000$432
8/2/201150 S POINTE DR # 2202CONTINUUM ON SOUTH BEACH$4,052,0003,017$3,700,000$1,226
8/2/2011520 WEST AV # 702Bentley Bay$495,0001,499$510,100$340
8/1/20111455 OCEAN DR # 1003Il Villaggio Condominium$2,169,0001,550$1,750,000$1,129
7/29/20115151 COLLINS AV # 733SeaCoast 5151 Condo$534,9001,350$541,000$401
7/28/20115025 COLLINS AV # 2308Capobella$1,190,0001,870$1,020,000$545
7/28/20115025 COLLINS AV # 805Capobella$1,500,0002,060$1,250,000$607
7/28/20115025 COLLINS AV # 1202Capobella Condominium$675,0001,350$675,000$500
7/26/20115959 COLLINS AV # 704The Bath Club$2,595,0003,982$2,375,000$596
7/25/20115959 COLLINS AV # 3002THE BATH CLUB$6,900,0005,700$5,700,000$1,000
7/25/201190 ALTON RD # 1012YACHT CLUB AT PORTOFINO$488,9001,130$510,000$451
7/22/2011221 JEFFERSON AV # 5ILONA CONDO$599,0001,248$565,000$453
7/20/20116101 AQUA AV # 903GORLIN AT AQUA$660,0001,862$600,000$322
7/20/2011101 20 st # 3108The Setai$2,580,0001,141$2,600,000$2,279
7/19/20116103 AQUA AV # 602SPEAR AT AQUA$599,0001,755$550,000$313
7/19/2011100 S POINTE DR # 2209Continuum$2,325,0002,122$2,200,000$1,037
7/19/2011110 WASHINGTON AV # 2217THE COSMOPOLITAN$549,9991,287$550,000$427
7/18/20116365 COLLINS AV # 1103AKOYA CONDO$950,0001,761$920,000$522
7/14/2011101 20 ST # 3006Setai$2,200,0001,316$1,900,000$1,444
7/14/2011400 S POINTE DR # 1009SOUTH POINTE TOWER COND I$779,9001,279$772,500$604
7/13/20116899 COLLINS AV # 810CANYON RANCH$590,0001,280$590,000$461
7/12/2011101 20 ST # 2801Setai$1,990,0001,198$1,700,000$1,419
7/8/2011300 S POINTE DR # 1501PORTOFINO TOWERS$1,690,0002,340$1,625,000$694

 Read more

Monday, July 12, 2010
 Share

I'd like to highlight the last month's closed sales of luxury waterfront condominiums in the South of Fifth Street area of Miami Beach. Specifically, I'd like to point out and compare the gap (either premium or discount) in closed sales prices from the Miami-Dade tax assessed values of 2009. The Miami-Dade Tax Assessor's office has made a significant effort in the past year to revise the latest tax market values with the ACTUAL reduced property values of the past few years. Therefore, I'd like to compare the latest closed sales at The Continuum South Beach, Apogee South Beach, The Murano at Portofino, Murano Grande, and Bentley Bay to compare the actual sales from the tax assessed values. All of the condomiums highlighted below are premier waterfront units with spectacular water views, and generally among the most desireable lines in the respective waterfront buildings in South Beach's South of Fifth area:

Apogee #604 - 6/18/10 Sales Price: $5,800,000 vs. Tax Assessed Value: $3,889,000
(Apogee Sales Price Premium +49%)
Continuum North Tower #2701 - 6/18/10 Sales Price: $3,500,000 vs. Tax Assessed Value: $2,072,000
(Continuum South Beach Sales Price Premium +69%)
Continuum North Tower #905 - 6/30/10 Sales Price: $1,200,000 vs. Tax Assessed Value: $733,000
(ContinuumMiami Beach Sales Price Premium +64%)
Continuum North Tower #2902 - 6/30/10 Sales Price: $3,040,000 vs. Tax Assessed Value: $2,113,000
(Continuum Sales Price Premium +44%)
Murano at Portofino #3102 - 6/3/10 Sales Price: $1,925,000 vs. Tax Assessed Value: $1,902,000
(Murano at Portofino Sales Price Premium +1%)
Murano Grande #2601 - 6/23/10 Sales Price: $2,500,000 vs. Tax Assessed Value: $2,123,000
(Murano Grande Sales Price Premium +18%)
Icon South Beach #1901 - 7/1/10 Sales Price: $1,490,000 vs. Tax Assessed Value: $1,091,000
(Icon Miami Beach Sales Price Premium +37%)
Bentley Bay #1201 - 5/28/10 Sales Price: $750,000 vs. Tax Assessed Value: $863,000
(Bentley Bay Sales Price Discount -13%)

Murano at Portofino CondosIcon South Beach condos
Continuum North Tower CondosApogee South Beach Condos

It should be noted that for the newest South of Fifth buildings (Apogee and Continuum North Tower specifically), the Tax Assessed values tend to be low. The premium prices being paid at both Continuum North Tower and Apogee indicate that these condo buildings are also among the most sought-after and highly desireable ultra-luxury properties. The biggest price discount is most notably at the Bentley Bay, primarily due to this condo building's high maintenance fees and owner delinquency rates.

Premium waterfront properties (whether condos or single family homes) that are priced RIGHT continue to have strong buyer demand. For waterfront condos in the South of Fifth area, we continue to see significant buyer demand- most especially from USA Northeast, South American, and select European buyers (most especially East European countries).

 Read more

Page 1 Of 1

2 Articles Found

Search

Contact

Category

Tags

© 2024 Kleer and García-Diaz. All Rights Reserved. Trademarks and brands are the property of their respective owners.
Disclaimer | Accessibility Statement

Equal Housing Lender | Realtor® | Designed by RESI - Real Estate Systems Integrators
>