In the past ninety days Miami Beach Condo and home sales have seen closing prices for luxury waterfront properties reach levels not seen since the market highs of 2006. The island residential communities in Miami Beach (specifically in the South of Fifth neighborhood) and the luxury homes communities on the Venetian Islands and Star Island have seen incredible sales momentum for "turnkey" luxury waterfront properties.

The most prominent Miami Beach condo sales took place at The Continuum Condos in Miami Beach, where two spectacular Oceanfront combined condos with over 6,400 SQ. FT. of living space sold for an incredible $10,576,000 (this works out to over $1,643/S.F.) Also noteworthy, at the nearby Apogee in South Beach'sSouth of Fifth Neighborhood is a Penthouse sale for an incredible $11,500,000 (also over $1,678/SF) ! ! !

The most noteworthy Miami Beach home sales are the large Estates located at 4855 Pinetree Drive and the incredible home located at 27 Star Island Drive in Miami Beach's ultra-luxury Star Island Community. It should be noted that this Star Island home sold for $10,750,000, and is located just a few doors down from Gloria Estefan's and Rosie O'Donnell's magnificent Star Island residences.

The last 90 Days of Miami Beach Condo and Waterfront Home Sales:

Late Spring and Summer Events in Miami & Miami Beach

As the summer months and "low season" is upon us, there's much to do in Miami and Miami Beach. Even as the slower-paced time of year is here, there's so much to do and see in and around Miami Beach for year-round residents and homeowners.

Dining & Nightlife

Cozy Bar is a must for the nearby condo residents. This is where the owners and residents of The Continuum on South Beach, The Portofino Tower, Apogee, The Murano at Portofino, and the other local South of Fifth residents gather to hear live music, Wednesday - Sunday, beginning around 9:30pm. You can go to www.thecozybar.com to see their line up or stop by my desk for the calendar.

Joe's Stone Crab has officially begun it's summer hours: From now until July 31, 2011, they will be closed for lunch. Dinner hours are as follows: Wednesday, Thursday & Sunday: 6pm -10pm, Friday & Saturday: 6pm - 11pm, Closed: Mondays & Tuesdays. A Miami Beach South of Fifth Neighborhood classic is now available year-round!

Pied a Terre (1701 James Ave., 2nd floor of the Cadet Hotel) gets mentioned in the Miami Herald. Seems like it's a hidden jewel worth sampling: http://www.miamiherald.com/2011/05/05/2200667/pied-a-terre-a-south-beach-hideaway.html

Thali Indian & Thai (754 Washington Avenue) gets a nice write up by Lee Klein in the Miami New Times: http://www.miaminewtimes.com/2011-05-12/restaurants/thali-indian-and-thai-fresh-and-affordable-in-south-beach/

Lou Lou Le Petit Bistro comes to Brickell. See what the Miami Herald has to say: http://www.miamiherald.com/2011/05/12/2211841/lou-lou-le-petit-bistro-adds-french.html

Haven has just opened at 1237 Lincoln Road (next to Alta Mare). A "gastro-lounge" focusing on small bites with many local and organic offerings, Haven infuses a bit of nightlife into your dining experience. http://havenlounge.com/

The Brooklyn Water Bagel Company just opened on 1115 5th Street (ground floor at The newly completed Fifth and Alton Shopping Center). Owned and conceived by CNN's Larry King, the best Bagels from New York City and the water is supposedly brought in from New Jersey!http://www.brooklynwaterbagels.com/index.php

Other Greater Miami Highlights

Don't forget: MAY IS MUSEUM MONTH! Museum-hopping a bargain in May. Culture shouldn't break the bank this month. May is Miami Museum Month, with a record 17 participants offering buy-one-get-one-free admission.Anyone who is already a member of any of the museums -- or joins during May -- can go to any other museum for free throughout the month. Participating museums include Bass Museum of Art in Miami Beach (off of Collins and 23rd), the Haitian Heritage Museum, HistoryMiami, Miami Art Museum, Miami Science Museum and the Wolfsonian - FIU. The Greater Miami Convention & Visitors Bureau started the initiative in 2009. Four new museums joined this year: Ancient Spanish Monastery, Coral Gables Merrick House, Coral Gables Museum and Wings Over Miami Air Museum. A full list and more information can be found online at www.MiamiMuseumMonth.com.

Sleepless Night (the all-night arts extravaganza) returns to Miami Beach this year on November 5: http://www.miamiherald.com/2011/05/05/2202992_sleepless-night-returns-to-miami.html#storylink=addthis

Cirque du Soleil's Eloizecomes to the Arsht Center July 26th - August 7, Tickets start at $25.00. http://www.arshtcenter.org/tickets/calendar/view.aspx?id=9525

Elle Magazine to open Elle Spa at the Eden Roc Hotel in June: http://www.miamiherald.com/2011/05/03/2199266/elle-magazine-opens-spa-at-miami.html

Hair comes to the Adrienne Arsht Center from May 31 - June 5. Tickets can be found here: http://www.arshtcenter.org/tickets/calendar/view.aspx?id=7765

Performances & Concerts

Taylor Swift: June 2 @ 7pm BankAtlantic Center Sunrise http://www.ticketmaster.com/event/0D0046448A144F5A?brand=&tm_link=tm_music_g7&hot_ticket_brand=music

Katy Perry: June 11 @ 7:30pm BankAtlantic Center Sunrise http://www.ticketmaster.com/event/0D004631AAA0706C?artistid=1265325&majorcatid=10001&minorcatid=1

Martin Lawrence: June 25 @ Adrienne Arsht Center http://www.ticketmaster.com/event/0D004696C89A6727?tm_link=tm_homeA_h2&crosssite=LN_US:770077:106742

Rihanna: Bank Atlantic Center July 14 @ 7:30 pm. http://www.ticketmaster.com/event/0D004657C0276747?tm_link=tm_homeA_g13&crosssite=LN_US:1013826:107150

Sade: Friday, July 15, 2011Bank Atlantic Centerhttp://www.miamiherald.com/2010/12/09/1963240/fresh-takes-on-asian-favorites.html

Ke$ha: August 7, 20110 @ 7:30pm BayFront Park Amphitheater http://www.livenation.com/event/0D004687E3B479BC?brand=&tm_link=tm_homeA_g12&hot_ticket_brand=home

Marc Anthony: September 16 @ 8pm American Airlines Arena http://www.ticketmaster.com/event/0D0046ABB4826732?crosssite=LN_US:759949:106601

The Continuum on South Beach South Tower condo building was completed in 2001. This is THE premier location Condominium Building in all of Miami Beach, especially in the much coveted and fashionable South of Fifth Neighborhood. What many of today's potential buyers may not know is that the Developer of The Continuum, Mr. Bruce Eichner, had a few construction issues related to some of the finish work that was performed by various sub-contractors at the time of original construction i 2001.None of these were considered structural or major, but have been a minor nuisance to condo owners and residents over the past few years. The most serious problems have dealt with water leaks (long since resolved) and some of the sliding glass doors not opening and closing correctly.

After a long and protracted process between The Continuum South Tower Board of Directors and The Developer, the Continuum South Tower Condo Association has finally resolved all remaining original construction issues. Also, as part of this resolution, the South Tower Condominium Association has now undertaken a much needed facelift to the Continuum South lobby and common areas. The new Continuum South Tower lobby will be one of the most beautiful and luxurious contemporary condo buildings in all of South Beach.

Below are a few pictures and renderings of this spectacular and well designed renovation, which is being overseen by Pepe Calderin Design. This is an architecture and interior design firm with over 20 years of experience, and is known as one of the best design firms for Miami Beach Real Estate. All of these renovations and improvements will keep the Continuum South Tower as the premier condo building in Miami Beach's ultra luxury condo market.

180 Day Miami Beach Continuum South Tower Condo Sales :

There are so MANY reasons why people want to live in Miami Beach: The weather, the lifestyle, the Art Deco architectural diversity and beauty, the many new ultra luxury waterfront homes and condos, and the pure "fun" factor are just a few of the top reasons that come to mind.

Also, Miami Beach, and most especially South Beach's South of Fifth neighborhood, has become one of the most sought-after places to live in the world. Recognizing this, the city of Miami Beach planned a multi-million dollar renovation of South Pointe Park, which was completed in 2009. This extensive renovation included a completely new landscape with a variety of vegetation, Palm Trees, walkways, a multicolored nighttime light display along Government Cut, underground water fountains, the creation of elevated sand dunes, party facilities, and even a children's playground! Additionally, a new Pier was constructed where you can walk out several hundred feet to truly experience the beauty of the Atlantic Ocean.South Pointe Park is surrounded by the several ultra-luxury condominium buildings - The Continuum South Beach, Apogee, The Portofino Tower, The South Pointe Tower, and The Murano at Portofino. These residents can often be spotted taking advantage of the Park's restored beauty and vibrant atmosphere.

Top Ten Things to do in South Miami Beach:

1. Jog or walk through the many trails and paths- especially at night to see the multicolored light show along the Intracoastal Waterway.

2. Bring a Yoga Mat and attend one of the free morning and evening yoga classes sponsored by various local fitness centers ON THE BEACH!

3. Watch incredible Ocean and Intracoastal waterfront sunrises and sunsets.

4. SOCIALIZE with the many locals who bring their dogs to the many local parks for morning and evening walks. A little known fact is that many locals organize regular get-togethers for other dog owners.

5. Watch the amazing sight of cruise ships leaving the Port of Miami around 5pm Friday - Sunday (especially in High Season).

6. Take a day trip to the Beach, most beachfront parks have easy beach access paths.

7. Bring your kids, nieces, nephews, and any other young adult to play in the water fountains inside most South Beach parks.

8. Go to the many waterfront restaurtants with views of Fisher Island, the Ocean, and the downtown Miami skyline

9. Enjoy the incredible high fashion shopping experience in open air Pedestrian Malls such as Lincoln Road Mall, Bal Harbour Shops, and along Collins Avenue.

10. Celebrity watch! Recently, I spotted Gloria Estefan, Rosie O'Donnell and their families enjoying a spectacular year-round weather!

More information on specific South Beach neighborhood and Miami Beach lifestyle Top Ten can be found at the below linked previous blog posts:

Miami Beach's South Pointe Park
Why I Love South Pointe / The Continuum
Portofino Tower / South of Fifth Neighborhood Top Ten
South of Fifth Neighborhood / Icon South Beach Top Ten

Over the past week, I had the opportunity to take out two ready, willing, & highly qualified (cash contracts) Miami Beach condominium buyers to see The Continuum on South Beach, The Murano at Portofino, Icon South Beach, and The Bentley Bay. It was a shocking experience, in more ways than one.The purchasing criteria:Price point of $1 Million - $1.5 Million for a waterfront two bedroom condominium with water views. There are well over one hundred (100 +) individual condominiums to choose from that easily meet this criteria on the market for sale.

The first impression that I was left with was the complete lack of professionalism (negligence is a better description) on the part of a large number of listing Agents and/or Brokers. Disconnected phones, incomplete and inaccurate information on Multiple Listing for the condos that are on the market, voicemessages saying that the agent is out of the country / unavailable and NOT to leave messages, no voicemail pickup at all in two cases, no response to multiple voicemessages and emails, and sometimes a response days later that a showing can be arranged perhaps once per week. Also, we experienced agents not showing up for appointments or having to pick up keys at an office located over 10 miles away! I was left wondering if the individual condominium owners realize how poorly they are being represented in a BUYERS market.

That being said, I was also impressed that only a very limited number of these waterfront condos are priced to sell. The vast majority of the 100+ initial condos that showed up in a property search, with the above mentioned criteria, are overpriced and nowhere near the market / appraised value. In each of the buildings- there are only a few condos that are truly worthwhile and that a buyer would give serious consideration to making a reasonable offer. I'd like to highlight a few of the deals that were the equivalent of finding a needle in a haystack:

Continuum South Beach - South Tower #2301
Asking Price: $1,395,000
Comparable Sale #1901 : $1,160,000 (Short Sale)
Bedrooms: 2
Bathrooms: 3
Interior S.F.: 1,591 (Asking $876/SF)
Comparable Sold Date: March 10, 2010

Continuum North Tower - #1704
Asking Price: $1,395,000
Comparable Sale (#1204) : $1,250,000 (8/2009)
Bedrooms: 2
Bathrooms: 3
Interior S.F.: 1,491 (Asking $935/SF)
Comparable Sold Date: August, 2009

Bentley Bay Miami Beach - South Tower #1201 (Short Sale)
Asking Price: $870,000
Comparable Sale #1801 : $755,000 (Foreclosure Sale)
Bedrooms: 3
Bathrooms: 4
Interior S.F.: 1,994 (Asking $436/SF)
Comparable Sold Date: December, 2009

Icon South Beach - Condominium Unit #1106
Asking Price: $695,000
Comparable Sale #1706 : $725,000
Bedrooms: 2
Bathrooms: 2
Interior S.F.: 1,452 (Asking $478/SF)
Comparable Sold Date: March 19, 2010

Global Sales Data Source: Southeast Florida Regional MLS

I'd like to share with our readers my informal "Top 10" list of local Miami Beach restaurants. These are the ones I recommend to friends and clients who visit our South Beach paradise, and are all located within walking distance of all of the luxury condos that we specialize in selling (Murano at Portofino, Portofino Tower, Continuum South Beach, Apogee, Icon South Beach, Murano Grande, The Il Vilaggio, and The Bentley Bay.

Smith & Wollensky Steakhouse - Yes, it's an expensive chain steakhouse, but what really makes this place standout is the impeccable service, and the incredible location in the middle of South Point Park facing government cut. Request an outside table, with amazing views of the cruise ships, Fisher Island and the downtown Miami skyline.
Address: 1st street and Washington Avenue

DaLeo Trattoria on Lincoln Road- Affordable local favorite with homemade Italian dishes ranging from classic pastas to gnocchi and speciality chicken dishes. Extremely attentive and friendly staff, located just off the busy Lincoln Road and Meridian Ave. cross streets. THE place to people watch on the pedestrian Lincoln Road Mall.
Address: 819 Lincoln Road

Prime 112 Steakhouse- Another South of Fifth street local and tourist favorite. A bit pricey, but the service and food are outstanding. This is the "in" steakhouse to see and be seen.
Address: 112 Ocean Drive

Joe's Stone Crabs- Located next to South Pointe Park and the Nikki Beach club complex, this is probably one of the most famous stone crab restaurants in the country. A "must visit" for fans of stone crabbs and locally caught fresh seafood.
Address: 11th and Washington Avenue

Joe Allen's- Located on Purdy Avenue, across the street from The Sunset Harbour condominiums. This NYC transplant is an out of the way local favorite with great service and a diverse menu that features everything from salads to pastas and steaks. Reasonably priced and a great place to mix with local Miami Beach residents.
Address: 1787 Purdy Avenue

Burger and Beet Joint- Located right around the corner from Joe Allen's, the very best burgers with different meat choices (including Kobe beef) in Miami Beach with a friendly staff.
Adress: 1766 Bay Road

DeVito's South Beach- This is one celebrity-owned restaurant that beats expectations. Try the homemade meatballs and the Lemoncello martini, and to finish it all off the cotton candy dessert is not to be missed! Not cheap, but excellent & unique food, great ambiance, and conveniently located in Miami Beach's South of Fifth Street District.
Address: 150 Ocean Drive

Sylvano Italian Restaurant- This is another local favorite and not be missed. Reasonably priced (not a fancy ambiance & discreetly located on Alton Road and 9th Street) some of the best homemade pasta dishes in all of South Florida. Everything is homemade and the service/staff are friendly and aim to please.
Address: 820 Alton Road

Baires Grill- Recently relocated to Lincoln Road, featuring homemade empanadas (oven cooked, not fried), outstanding meats, and an extensive wine collection. The staff and service are friendly and relaxed and the prices reasonable. Located underneath the Regal Cinemas on the Western end of the pedestrian mall.
Address: 1116 Lincoln Road

Meat Market- A sexy and glamorous take on the traditional steakhouse, executive chef Sean Brasel creates truly unique dishes. Featuring contemporary and elegant decor, this restaurant provides one of the finest dining experiences in all of Miami Beach.
Address: 915 Lincoln Road