As noted in our most recent Newsletter, we're seeing tremendous Foreign Buyer demand not only for Miami Beach Condos and waterfront homes, but for general Miami Real Estate located in premier waterfront locations. There's been virtually NO new large-scale construction in six years (since the start of the Real Estate downturn in late 2006), and there's virtually no watefront land available for development in Miami Beach. Even in previously distressed Miami Beach condos, most notably The Bentley Bay, we've seen a dramatic decline in available inventory of condos available for sale. In 2008-2009 there were well over 100 distressed sales, and today there are just EIGHT condos currently for sale.

Prices for Bentley Bay condos are also UP significantly from market lows averaging $350/SF to a current average asking price of $631/SF. It's my belief that the CLOSED sales prices will reach these new ASKING prices within the next year, due to the very limited number of Miami Beach condos available for sale. The overall inventory levels are also near six year lows for waterfront condos in the South of Fifth Street neighborhood- such as The Murano at Portofino, Continuum Miami Beach, Apogee, The Portofino Tower, Icon South Beach, Murano Grande, and The Yacht Club.

This rapid absorption of available Miami Beach condos inventory is due to the following :

The newest waterfront Miami Beach condos were built in THE best locations in Miami Beach, such as the South of Fifth Street neighborhood. For example, The Continuum Miami Beach Condos are on a twelve acre Oceanfront site that is at the SouthernEastern tip of Miami Beach. The site of The Continuum, for example, was THE LAST premier waterfront location in Miami Beach.

Below are the YTD 2012 Sales of Miami Beach Condos (South of Fifth Only) over $1 Million:

High season is just around the corner for home and condo owners in Miami Beach. Halloween, OcktoberFest, Art Basel Miami Beach, Carnival Miami Parade & many more festivals top the list of this season's most coveted events. Miami Beach's high season will also see an influx of many international visitors, snow birds from the Northern states like New York City, Chicago, Boston, and vacationers from neighboring states such as Atlanta, Dallas, and Northern Florida, who come to enjoy South Beach's many attractions. Every year, during the Winter months, second home owners and buyers interested in investing in Miami Beach Real Estate come to the South of Fifth neighborhood to escape the harsh winters of the North. The City ofMiami Beach accomodates homeowners and visitors by having a full schedule of cultural, fashion, festival, fine cuisine and Holiday events for all to enjoy. All of the these varied attractions are what makes owning real estate and living in Miami Beach an exceptional experience!

Featured Annual Events in Miami Beach

Miami Beach Attractions of the Month
A diverse selection of family-friendly activities and excursions for Greater Miami and Miami beach residents. Features great indoor and outdoor events, exotic adventures, water sports and exploration, and much more.
http://www.everyonesakid.com/

Annual Miami Beach Antique Jewelry & Watch Show
Three days of the finest art, antiques and luxury jewelry showcased at the Miami Beach Convention Center. The most elegant gems, precious stones, diamonds rare vintage, antique, and estate jewelry and watches and much more will be exhibited for attendees and collectors.
http://www.miamibeachantiquejewelryandwatchshow.com/

Carnival Miami Parade & Festival
one of the most popular events in Miami and Miami Beach. Carnival celebrates Caribbean and Latin culture with music, food, arts & crafts, and an outrageously colorful mardi gras-style parade that also feature calypsonians from the islands, live bands & performances and thousands of visitors from across the United States.
http://www.miamicarnivalonline.com/

Miami Fashion Festival
A weekend of Citywide events for Greater Miami and Miami Beach residents and visitors featuring runway shows, styling clinics, retail promotions, fashion photo shoots, in-s tore retail promotions and appearances by top fashion designers. Presented by Jones Magazine.
http://www.miamifashionfest.com/

The South Beach Wine & Food Festival
A national, star-studded, four-day destination event showcasing the talents of the world's most renowned wine and spirits producers, chefs and culinary personalities.
http://2012.sobefest.com/index.php

Funkshion: Fall Fashion Week Miami Beach
Miami Beach hosts top world designers and fashion brands who will showcase their new lines in individual fashion shows to media, celebrities, international buyers.
http://funkshion.com/

South Florida International Auto Show: Miami Beach
One of the largest and most prestigious in the nation, the auto show showcases more than 1,000 new car, truck, van and SUV models from more than 40 of the world's leading manufacturers.
http://www.sfliautoshow.com

Miami Beach Halloween Half Marathon
A fun run event that builds of the excitement and anticipation of the Halloween festivities. The stellar ocean side 13.1 mile course runs Starts at Parrot Jungle, Parrot and finishing at South Pointe Park with Fabulous & Stunning Miami Beach Views.
http://www.halloweenhalfmarathon.com

Halloween on Lincoln Road, Miami Beach
Locals, tourists, and residents of the South of Fifth neighborhood explore and engage in the spooky all-night long entertainment events filled with live music, costume parties, great food, and shopping to celebrate Halloween. Halloween Sunday will begin with trick or treating for Children to collect sweets from Lincoln Road storefronts. Clowns, magicians, and stilt walkers will line the streets to dazzle and entertain and give away free sweets.
http://lincolnroadmall.com/

Halloween Spooktacular at Jungle Island
Located on Watson island, between Miami and Miami Beach, Jungle island presents Halloween fun-filled days of spooky fun for children with the furry and feathered friends who live on the island.
http://jungleisland.com/halloween/

Dining & Nightlife Activities in Miami and Miami Beach

Miami New Times Presents Iron Fork: Chef vs. Chef
Chef's Battle to create delicious bites from dozens of Miami' and Miami Beach's best restaurants, from Barton G's famous restauran on Miami Beach's West Avenue to Hakkasan in South Beach. Includes chef competition, food sampling, open bar and live entertainment.
http://microapp.miaminewtimes.com/ironfork/2011/

Tudor House (1111 Collins Ave) www.tudorhousemiami.com Highlights values and quality. Read More: http://www.miaminewtimes.com/2011-09-08/restaurants/tudor-house-puts-quality-over-quantity/

Egg & Dart (4029 North Miami Ave) www.egganddartmiami.com New Greek restaurant on Miami Beach aims to embody Greece in all aspects, from the menu, the decor and the name. Read More: http://www.miamiherald.com/2011/07/22/2326023/new-greek-restaurant-egg-dart.html#ixzz1Yhz94H00

Kane Steakhouse (431 Washington Ave) www.kanesteakhouse.com
Located in South Beach’s booming “South of Fifth” area, offers fine cuisine, modern design and seductive ambiance with upscale steakhouse fare Read More: http://www.miamiherald.com/2011/09/15/2406561/kane-another-decadent-meat-palace.html

The South Beach Wine & Food Festival (February 23-26th, 2012) http://2012.sobefest.com/ A culinary extravaganza in Miami Beach featuring the most renowned wine and spirits producers, chefs and culinary personalities. Tickets go on sale October 24th. Read More: http://blogs.miaminewtimes.com/shortorder/2011/09/south_beach_wine_food_festival_3.php

Other Highlights in Greater Miami & Miami Beach

The Miami Heat's first pre-season game is scheduled for October 11. View their full schedule here: http://www.nba.com/heat/schedule/

Sleepless Night Miami Beach - November 5 An all night, free art event has become quite popular and draws visitors from everywhere. http://sleeplessnight.org/?cat=5

Art Basel returns to Miami December 1-4, 2011. Check out the website and catalogue here: http://www.artbaselmiamibeach.com/

Performances and Concerts in Miami and in South Beach

Euphoria Tour w/ Enrique Iglesias Sept. 22 @ 7:30pm American Airlines Arena: www.enriqueiglesias.com/

Chris Tucker Sept. 24 @ 7:30pm Fillmore Miami Beach @ The Jackie Gleason Theater: www.christucker.com/

Adele Oct. 14 @ 8pm American Airlines Arena: www.adele.tv/home/

Chris Brown Oct. 5 F.A.M.E. Tour featuring T-Pain and Tyga: www.chrisbrownworld.com/

Guns N' Roses Oct 29 American Airlines Arena: web.gunsnroses.com/

Josh Groban Oct. 26 BankAtlantic Center: www.joshgroban.com/

Are you a potential snowbird who may be interested in spending this coming winter season to Miami Beach? Then come on over to the International destination where homeowners and condo residents enjoy incredible warm tropical weather and amazing sunsets year-round at the beach! Although we are still in the wet season, and just missed the worst of the Hurricane season with a weather phenomenon that spread across the Eastern seaboards as far as New York to Canada; Miami Beach vacationers, residents and condo owners in the South of Fifth Neighborhood have plenty of late summer/early Fall fun in the sun left to enjoy. Miami Beach’s endless rays of sun, white sand beaches and emerald water surfs never disappoint residents who continue to participate in the numerous festivals, daytime excursions, active and exciting nightlife and the lavish beach life offered in the city of Miami Beach.

It’s no wonder Miami Beach year-round is a top destination for families, friends, couples and the ever present tourists from countries near and far. The year-long tropical island atmosphere is a constant reminder to Miami Beach vacationers, second home buyers, residents and condo owners that the beach lifestyle is a hot commodity in the US, especially when the Northern cities are getting ready for their Fall and Winter months. With its oceanfront living and unlimited beach access, Miami Beach ranks as one of the top destinations for fall and winter getaways.

The South of Fifth Neighborhood in Miami Beach is dominated by such towering luxury waterfront buildings as Apogee, The Continuum on South Beach, The Murano Condos in Miami Beach, The Murano Grande, and Icon South Beach. All of these condo owners and residents are within either walking distance or a short ten minute cab ride to all of the Miami Beach attractions and events happening in September and October, 2011:

Late Summer Events in Greater Miami and Miami Beach:

Miami Spice 2011 - Continues through September 30. Take advantage of some amazing gourmet deals at some of the best restaurants in Greater Miami and Miami Beach. http://www.ilovemiamispice.com

Miami International Wine Fair - My personal favorite! Starts on September 23rd, the leading wine trade show begins showcasing over 1,500 wines from 20 of the world’s most established wine countries such as Spain, France, Italy, the United States, and Australia all on display for tastings and enjoyment at The Miami Beach Convention Center.

Butterfly Days at Fairchild - On September 24-25th explore the colorful and fantastic world of butterflies, featuring lectures and presentations throughout the weekend to learn about conservation, butterfly gardening, photography, butterfly tours and more.http://www.fairchildgarden.org/Events/?date=09-2011&eventID=502

Festival Miami – September 30th marks the annual music festival that opens the South Florida arts season presents between 25 to 30 concerts, master classes, and lectures over a five-week period. http://www.miami.edu/frost/index.php/festival_miami/

South Florida Dragon Boat & Moon Festival - This year’s festival on September 24, 2011 will be a land-only celebration featuring multicultural performances, Arts & Crafts, International Food Court and more.http://www.miamidragonboat.com/

Miami Jazz Film Festival - Begins September 29 featuring documentary films that focus on jazz and world music. Will feature jazz tributes, jazz documentaries, features and live concerts.http://www.wdna.org/

The South Beach Italian Film Festival – Starting October 6 will open with screenings, tributes, seminars and 10 new films in Italian with English subtitles at the Regal Cinema South Beachhttp://www.cinemaitaly.com/index2.php?idfestival=27

Miami Beach's Lincoln Road Antique Market - Returns October 9 for the winter season scheduled every 2nd and 4th Sunday of the month. Shop for antique items, gifts, jewelry, china, vintage clothing, furniture, and collectibles at this outdoor market. www.antiquecollectiblemarket.com/

Carnival Miami 2011 - Greater Miami presents Miami Broward One Carnival Sunday, October 9th. A Caribbean festival featuring costumed parades, Caribbean and international acts, food and drinks, arts and craft and fun for the entire family. http://www.miamibrowardcarnival.com/index.html

Art Basel Miami Beach - December 1-4, 2011 Get an early prep start now. One of the most prestigious art show in the United States returns to Miami. An exclusive selection of more than

250 leading art galleries from North America, Latin America, Europe, Asia and Africa will exhibit. http://www.artbaselmiamibeach.com/

Dining & Nightlife
The Dining Room (413 Washington Ave) is a Miami Beach bistro for libations and a variety of delicious small plates. Now offering Candlelit Dinner for 2 on Travel Zoo.http://www.diningroommiami.com

5 Napkins (455 Lincoln Road) a New York inspired burger joint on Miami Beach’s Lincoln Road serves burgers, shakes, sushi, salads, and comfort food like Mac and cheese and chicken soup. http://5napkinburger.com/

Escopazzo (1311 Washington Ave) This is another personal favorite of mine & many long-time Miami Beach Residents and Homeowners! A family owned restaurants with a friendly and attentive staff. Organic Italian cuisine restaurant in a Tuscan courtyard setting introduces "Small Plates and Wine Night" in their courtyard wine room. Prices for each plate begin at $9 while microbrews and wines by the glass go for $7.00. http://www.escopazzo.com/

Other Highlights
South of Fifth Dental
SoFi Dental Care & Orthodontics (115 Washington Avenue) a full-service dental office in Miami Beach offers new patient specials. Check them out here.http://:www.southbeachsmiles.com

The Miami Design Preservation League (1001 Ocean Drive) is offering scheduled tours and seminars. Visit for more details: www.mdpl.org

MiMo Tour of North Miami Beach - September 3rd, 9:30am $20. Tour start on the corner of 73rd and Collins. www.mdpl.org/tours/mimo-tour-of-north-beach

Mediterranean Revival Lecture - September 8th, 7pm
Shadows, Footprints, and Names: The Spanish Empire in North America
http://www.mdpl.org/events/special-events/

Gay & Lesbian Walking Tour - September 24th, 7pm $20
Tour starts at the Art Deco Welcome Center, especially tailored for the LGBT-oriented visitors to Miami Beach.www.mdpl.org/tours/gay-and-lesbian-walking-tour/

Miami Beach & Greater Miami Performances
Marc Anthony: September 16 @ 8pm American Airlines Arenawww.marcanthonyonline.com/
David Sedaris: November 1 @ 7:30pm. The Fillmore Miami Beachwww.barclayagency.com/sedaris.html
Jay Z & Kanye West November 25 @ 7:30pm, American Airlines Arenawww.watchthethrone.com/

The Bentley Bay in Miami Beach was originally conceived as one of the premier luxury waterfront condominium buildings in South Beach that was supposed to compete other Miami Beach luxury condominium buildings such as The Continuum on South Beach, The Murano at Portofino, The Portofino Tower, andIcon South Beach. The Bentley Bay's twin towers were to be the luxury gateway at the entrance to South Beach. Located just North of Fifth Street, these twin condominium towers have THE most amazing views of the Downtown Miami skyline, Star Island, Fisher Island, and Biscayne Bay. With only 168 total condominiums, these boutique twin luxury buildings featured Ivana Trump as the official spokesperson during pre-construction sales in 2001. However, the original Developer ran into many construction delays (reportedly due to his constant design / floorplan changes), and construction was ultimately delayed by several years and eventually completed under Bankruptcy court supervision.

By 2005, closings commenced and the North and South Towers continued to have construction issues, with repair work supervised by an experienced Bankruptcy Court Trustee. As the Florida real estate market collapsed, many underwater owners stopped paying their maintenance dues, and many individual condominium owners ended up in Foreclosure and sold their units as "short sales". During the worst of the Miami Beach real estate crisis, the Bentley Bay condominium maintenance delinquency rates rose to almost 50%. However, in the past year, a new and more assertive Board of Directors was elected, and delinquency rates have dropped considerably. Lately, the Bentley Bay's financial reserves and overall management have vastly improved.

As of this writing, these spectacular luxury condominiums are some of last remaining bargains in Miami Beach's luxury condo market. The Bentley Bay Board of Directors has pending plans to upgrade and repair the Common Area Hallways, North and South Tower Lobby's, Gymnasium, and entry pavers and doors.

IF these planned upgrades proceed forward in a timely and efficient manner, I predict that The Bentley Bay will soon fulfill the promise to being one of THE premier luxury condominium buildings in Miami Beach. For savvy cash buyers, who have lately been betting on this fantastic location, overall design & features, this may turn out to be one of the best opportunites in Miami Beach's waterfront Real Estate market.

The Bentley Bay condominiums themselves feature many ultra-luxury features such as:

- 9' Floor to Ceiling Windows and Sliding Glass Doors
- All-Marble Bathrooms with Kohler sinks and Italian Fixtures - see a few sample pictures below
- Marble Countertops and Italian Appliances (North Tower has top of the line GE Stainless Steel Appliances)
- Italian lighting and custom framed Italian Doors
- A unique waved designed building- conceived by Architectonica
- Oversized Glass Balconies (wrap around for corner condos)
- A Boutique Building- just 168 total condos
- Premier location at the entrance to South Beach, facing Biscayne Bay / Star Island Estates
- Riperian Rights Retail Space located on the ground floor (currently empty) that sits across from the 5th & Alton Shopping Center AND soon to be announced new retail mall located between West Avenue and Alton Road.

Miami Beach's Bentley Bay Past Eighteen Months of Closed Sales:

In the past ninety days, sales of waterfront Miami Beach Homes and Condos have seen impressive activity. Miami Beach’s real estate market is very active, especially when waterfront properties are priced right. As always, especially since the real estate market turned in late 2007 to today’s waterfront homeowners is to price your property right- from the beginning of the sales process. Also, it’s critical that owners in the highly sought after waterfront condo buildings South of Fifth Street- such as The Murano at Portofino, The Continuum on South Beach, The Portofino Tower, Apogee, Icon South Beach, and The Murano Grande work with professional, responsible, and experienced sales agents that understand the Miami Beach real estate market. Today's listing agent needs to have a comprehensive marketing plan for homesellers, one that goes far beyond just listing a property on the multiple listing service.

NOTICE to condominium owners in South Beach luxury waterfront buildings- I have represented many high net worth buyers that have purchased in the above referenced condo buildings recently. I continue to be shocked by the overall lack of professionalism, inattention to detail, overall sloppiness, and poor representation that many of these Miami Beach condo sellers are enduring. Unfortunately, this lack of professionalism (and non-existent marketing) ends up costing these Miami Beach condominium owners dearly. Not only do these condos sit on the active market for far too long, but the purchase prices undoubtedly end up being far lower. The usual end result is that the listing agent urges the owner to reduce the price due to a "lack of interest" from qualified buyers.

The vast majority of today’s buyers are high net worth individuals, ALL of whom are looking to get a reasonable deal and expect a minimal level of service and professionalism from the agents that they work with. Today’s Miami Beach real estate buyers, whether looking to spend $500,000 or $5,000,000 + are well informed, well qualified, and with substantial liquid cash reserves. This means that owners have to cater to this limited supply of well qualified (and mostly cash) buyers.

The Latest Miami Beach Condos & Homes Sales for zip codes 33139, 33140, and 33141:

South Beach's waterfront homes and condominium real estate market is very special. Miami Beach has the unique characteristic of being an international city with visitors coming to enjoy the warm winters, outstanding restaurants, amazing nightlife, a growing Arts and Cultural Scene, the Art Deco architecture, and of course the warm & sunny beaches.

These days, an increasing number of savvy and affluent buyers are coming to Miami Beach to take advantage of the advantageouseconomics of investing in "South of Fifth" luxury waterfront condominium buildings- such as The Continuum on South Beach, Apogee, The Portofino Tower, Icon South Beach, The Murano Grande, The Yacht Club at Portofino, The Murano at Portofino, and even the troubled but beautiful Bentley Bay condominiums (just north of Fifth Street).

In South Beach, you can enjoy a true Oceanfront lifestyle, along with the sophistication of a mini-Manhattan! This is specifically why Miami Beach's South of Fifth Neighborhood is especially popular with New Yorker's looking for a second home (or to eventually relocate to a warmer climate). Much like the better neighborhoods on the island of Manhattan in New York city (such as SoHo and and the West Village), South Beach's neighborhoods have HUNDREDS of upscale restaurants, nightclubs, bars, and lounges to choose from. In recent years, various well known celebrities have become attached to high caliber local establishments- such as Danny DeVito's Devitos in the South of Fifth area of Ocean Drive, or Gloria Estefan's Cardoso Hotel on 13 & Ocean Drive, and VERY popular Shake Shack hamburger restaurant on the newly remodeled Western end of Lincoln Road.

South Miami Beach is the dream place that can give you a great quality of life, and a city with nearly as many Oceanfront amenities that most upscale and savvy New York residents most especially are used to living and enjoying on a daily basis. The significantly price reduced real estate market in Miami Beach has become popular all over again (especially in the latter half of 2010) as the market for premier waterfront condos is rapidly being absorbed. For more information on current market conditions, please click HERE my previous market analysis and commentary.

Over the past few years, Miami Beach real estate's attractive prices have attracted many Americans and foreign buyers seeking out the FINITE supply of price reduced waterfront purchasing opportunities. Contemporary Miami Beach is known as America's playground, so people from all walks of life, mostly coming in from European countries and South America, are examples of today's foreign buyers who love to come here. Given the current price rollbacks and Buyer's Market environment, we find that many high net worth individuals are NOW looking to invest in a wide variety of apartment buildings, upscale condominiums, and waterfront estates and homes located on the various island communities of Miami Beach.

Since the real estate market crash in 2008, the market trend for Miami Beach waterfront homes and condos specifically has changed from real estate flippers and speculators to financially strong "Buy and Hold" clientele that are concerned with having a high quality of life living experience.

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!

Many of my long-time clients have been asking me why I believe Miami Beach waterfront condominium prices have bottomed? In the newer luxury condo buildings in Miami Beach, the inventory of WATERFRONT condominiums is rapidly dwindling. Some of you reading this may be asking yourselves "Is the inventory of condominiums on MLS dramatically going down?" Of course not! The examples below once again illustrate that when premier waterfront condos are PRICED CORRECTLY, they SELL! Miami Beach condos that are not priced correctly simply sit on the market, with little traffic and usually NO offers.

The point of this blog post is to give readers my market experience and translate our team's "on the field" experience. Waterfront Miami Beach condominiums that are in PRIME locations and PRICED RIGHT (according to the last three months of closed sales) are diminishing rapidly. The "short sale / distressed" inventory in the newer waterfront buildings such as The Portofino Tower, The Continuum on South Beach, The Sunset Harbour, and even the troubled The Bentley Bay are exactly Fifteen (15) condominiums available as today- November 5, 2010.

A sampling of South Beach Waterfront "Short Sale" Condos as of November 5, 2010 in the following buildings:

The Portofino Tower #1406
300 South Pointe Drive
Miami Beach, Florida 33139
Remarks: This is a two bedroom condominium at The Continuum with partial Ocean & Intracoastal views.
In my opinion, condo is still NOT correctly priced by listing Broker.
Today's Asking Price: $1,390,000
Previous “Sold” Price : $1,160,000 (6/2006)
2010 Tax Assessed Value: $713,390
Bedrooms: 2
Bathrooms: 3
Condo S.F.: 2,040
Total Days on Active Market (Multiple Listing): 1,000 + Days (Various Brokers)

The Portofino Tower #1002- South of Fifth Neighborhood
300 South Pointe Drive
Miami Beach, FL 33139
Remarks: This is a lower floor two bedroom condominium with partial views, with an inaccurate Broker Price Opinion.
Approved Short Sale Price: $920,000 (as of 3/20/10)
Original Listed Price : $1,150,000 (6/2009)
Previous “Sold” Price : $1,250,000 (3/2006)
2010 Tax Assesed Value: $759,000
Bedrooms: 2
Bathrooms: 3
Condo S.F.: 2,040 ($450/SF)
Days on Active Market (Multiple Listing): 365+ Days
Discount from Original Asking Price: 23%

The Sunset Harbour - North Condominium #1902/4 (Combined)
1900 Sunset Harbour Drive
Miami Beach, FL 33139
Remarks: This is a premier & oversized four bedroom condominium at Sunset Harbour with direct Bay views.
Approved Short Sale Price: $1,050,000
Original Listed Price : $1,950,000 (2005)
Previous “Sold” Price : $650,000 (1997)
2010 Tax Assessed Value: $964,560
Bedrooms: 4
Bathrooms: 3
Condo S.F.: 3,120 ($336/SF)
Days on Active Market (Total Multiple Listing): 1,000 + Days (Various Brokers)
Discount from Original Asking Price: 46%

The Bentley Bay- South Tower in Miami Beach
520 West Avenue #1102
Miami Beach, FL 33139
Remarks: This is a premier & oversized four bedroom condominium at Sunset Harbour with direct Bay views, with a inaccurate Broker Price Opinion.
Approved Short Sale Price: $600,000
Original Listed Price : $1,150,000 (5/2010)
Previous “Sold” Price : $975,000 (2005)
2010 Tax Assesed Value: $441,660
Bedrooms: 2
Bathrooms: 2
Condo S.F.: 1,499 ($400/SF)
Days on Active Market (Multiple Listing): 800+ Days
Discount from Original Asking Price: 48%

Sales Data Sources: Southeast Florida Multiple Listing Service and Greater Miami Realtors Association

The Murano Grande was conceived as a larger follow up to The Related Group's original South Fifth Masterpiece- The Murano at Portofino. A unique luxury building- with it's own design, architectural style, and amenities- the Murano Grande South Beach is a luxury condominium building located at 400 Alton Road, just South of Fifth Street.

No detail was spared in the construction of the Murano Grande, from the unique design of the shared spaces (conceived by The Rockwell Group), to the form and modern layout of the two story lobby. The Murano Grande evokes a contemporary feel, with a strong emphasis on the preservation of large open spaces. The lobby features a 24 hour security desk, as well as a concierge service desk. Since the building was completed in 2003, I have had the priviledge of representing many of it's sellers and buyers. Almost all of my clients have LOVED living here.

10 Reasons why The Murano Grande South Beach is one of the most popular Miami Beach luxury condo buildings:

• 1. The strong management staff- Top notch and long-term employees.
• 2. Top-tier amenities- including Tennis Courts, beautiful waterfall pool deck, and a well appointed gymnasium.
• 3. Incredible Views of downtown Miami, Biscayne Bay, Fisher Island, Star Island, and the city of Miami Beach.
• 4. Location- South of Fifth Street yet right next to the Miami Beach marina and the Fifth & Alton Shopping Center.
• 5. Amazing kitchens- Featuring Miele Appliances, high end cabinetry, and large granite countertops in every condominium.
• 6. Hurricane Impact Windows throughout the entire property. This one feature puts this condo building one notch above all others built prior to the passage of the stricter construction codes of 2001.
• 7. The separation of traffic among three towers- with elevators opening to semi-private and private foyers.
• 8. Financial Stability- There have been short sales in the building in the past year, yet the condo association is well managed and has reduced delinquency rates to under 5% and has strong reserves.
• 9. Active Social Committees- The Board of Directors and management organize semi-regular social functions aimed at creating a sense of community among full and part-time residents.
• 10. Large Terraces- Every condominium in the building has surprisingly large terraces, with all condos facing the Bay having extra large wrap around balconies.

Currently there are 40 condos available for sale at the Murano Grande. View the Listings.

As a former resident and owner at The Murano, I've experienced intimately this very special boutique luxury building. Located at the Southernmost western end of South Beach, right where government cut intersects with the island of Miami Beach. As the name implies, The Murano at Portofino was inspired by the beautiful Italian blown glass. The architecture of the Murano condo building very much echoes this, with unique green tinted windows and curved glass throughout.

A few of the reasons why the Murano's price points have barely been affected by South Florida's real downturn:

- An exceptionally well managed property with a long-time on-site management staff that takes pride in working at THE premier Bayfront building in South Beach. From the moment you enter the reception area, the valet staff, the concierges, and front desk staff are almost always impeccable and provide first class service to residents and their guests.

- A boutique property with owners that are incredibly loyal and proud of the building. Consisting of only 187 individual condominiums, this fosters a sense of intimacy and friendship among residents. There is a very active social committee that hosts several resident-only parties during low and high seasons.

- The Piaggia Beach Club, which hosts various ultra-chic parties around a salt water pool. The Piaggia managment and staff are professionally trained in the South of France. The ambiance, food, and service at this beautiful beach club is unique to The Murano at Portofino (note that guests are always welcome).

- The building was completed in 2001, with relatively few condo units subject to the kind of speculative buying and selling that occurred during the real estate boom and bust cycle of recent years.

- Low maintenance dues for a luxury building, with an annual budget surplus, almost no delinquency rates, and a very strong reserve fund for replacing equipment and impeccable maintenance of common areas.

- A first class & expanded / remodeled gymnasium, spa, and main lobby. Also, the fresh water main pool deck (facing Biscayne Bay) is one of the most beautiful and impressive in all of Miami Beach.

- Two sunken, 24 hour lit tennis courts. As a matter of fact, these are so impressive that the building is home to serveral current and former ATP ranked tennis players.

- A contemporary and consistent interior design throughout the building- with plenty of Murano glass pieces to highlight the architectural uniqueness of the building.

- High-end contemporary cabinets and fixtures in all of the condo units. These include Poggen Pohl Kitchens, Miele Appliances, Subzero refrigerators, and expansive floor to ceiling windows and sliding glass doors.