South of Fifth Condos are located in one of Miami Beach’s most coveted luxury waterfront neighborhoods. The area boasts an incredible array of trendy restaurants, designer shopping destinations, and close proximity to both the ocean and the bay. Often referred to as “SoFi”, South of Fifth condos provide residents and their guests some of the finest options in Miami Beach living.

South of Fifth Condominium Buildings

The South of Fifth neighborhood has some of the area’s most popular and luxurious waterfront condo buildings. They include:

• Apogee Miami Beach
• Bentley Hilton
• Continuum North Tower Miami Beach
• Continuum South Beach
• Icon South Beach
• Murano at Portofino
• Portofino Tower
• The Murano Grande
• Yacht Club at Portofino

Prices for units in the SoFi condo buildings run anywhere between the mid $300ks to upwards of $30 million. Condos are located on either the Atlantic Ocean or Biscayne Bay and feature between one and five bedrooms.

South of Fifth Dining

The SoFi neighborhood offers residents some of the best in local cuisine. Some of the terrific restaurants in the community include:

• Big Pink – touted as the best burgers in Miami Beach
• China Grill
• Clark’s Irish Tavern – a local favorite for traditional Irish fare and brews
• DeVito’s (owned by Hollywood actor Danny DeVito)
• Fogo de Chao Churrascaria
• Joe’s Stone Crab – only open in season, this eatery is always busy and is popular with locals and tourists alike
• Portofino Wine Bank – features a large selection of domestic and imported wines, beers and liquors
• Prime 112
• Red Steakhouse – features a beautiful rooftop with views of the ocean
• Smith & Wollensky Steakhouse
• Taverna Opa – features stellar Greek food and table dancing
• Texas de Brazil
  

South of Fifth Shopping and Recreation

South of Fifth condos also offer residents many wonderful opportunities for recreation and shopping in the neighborhood. Some of the can’t-miss places include:

• South Pointe Park – this park features an incredible light display, walking paths, and peaceful cascading water fountains facing Fisher Island and cruise ship alley. Great for sunset strolls!
• Miami Beach Marine – located at 300 Alton Road, just south of Icon South Beach and the Murano Grande, this marina features a deep sea diving center, a gourmet food market, and Monty’s restaurant. Visit Pinky’s Parasail rentals and American Watersports Jet Ski Rentals for an afternoon of water fun. Other services available here include the Tarpon Lagoon Dive Center for classes and dive trips, power boat rentals, yacht charters, sailfish tournaments, poker runs to the Florida Keys and the Columbus Day Regatta sailboat race.
• Nikki Beach Complex – located at 1st and Ocean Drive, this complex features two eateries, two nightclubs and beachfront huts. It also has beach access open to the general public.
• The Piagga Beach Club – features a saltwater pool and tasty mojitos to cool you off after a long day of play.
• South Shore Branch Library
• Spa 101 – located next to the Bentley Hilton Resort
• The Alton and 5th Street Shopping Center – located on the corner of 5th Street and Alton Road, this complex is home to Publix, Greenwise Supermarket, Best Buy, Petsmart, TJ Maxx, Subway, Brooklyn Water Bagels Store, and a Vitamin Shoppe.

Interested in buying or selling Miami Beach Luxury Real Estate? Call Allan Kleer @ 305 748 2058 or CLICK HERE to schedule a free consultation.

The extravagant lifestyle is what Apogee South Beach, an uber-deluxe, 22 story condo tower offers a few select owners. Only 67 stunning upscale penthouse style residences are available, making it one of the most exclusive condominium towers on Miami Beach. Apogee represents a distinctive residential living experience that is the pinnacle of exclusivity, superb quality and the privileged and pampered lifestyle.

In a Class of Its Own

Located atop a luminescent pool between the Portofino Tower and Murano at Portofino, the striking tower is the diamond of the neighborhood on Miami Beach. Surpassing the condominiums in its class, Apogee is distinguished by its above standard exhibition of luxury and affluent living. The impressive condo building illustrates the ultimate in unrivaled design, sophistication and superiority in every residence.

Envisioned by award-winning architectural design firm Sieer Suarez, and mega developer Jorge Perez, every exquisite detail of Apogee is selected to signify the epitome of advanced living. Privileged residents enter into a lobby and common area that showcases the strikingly contemporary and chic style of internationally renowned firm, Yabu Pushelberge.

After being amazed by the visual pleasure that is Apogee, residents are whisked via their own private elevators to their homes and gain entry with one touch, fingerprint access. The entrance to lavish living opens to reveal innovative and aesthetically stunning interiors with soaring 10 feet ceilings. From the floor-to-ceiling “optically clear” glass windows, which encompass the entire living space, the most awe-inspiring city and ocean views can be seen.

State-of-the-Art Amenities

The all inclusive residences offer Miami Beach condo owners top-of-the-line appliances, cabinetry and master baths, and sprawling, eleven feet wide terraces with summer kitchens. A masterpiece in design and functionality, Apogee South Beach reveals how sophistication combined with privacy, plus the latest residential technologies and service, translates into the ultimate Miami Beach lifestyle. Additionally, custom lighting schemes wiring for automatic drapery, “smart” technology tablets, DVD players built into mirrors and mini emergency kitchens in the master bathroom, complement the futuristic styling. Apogee is one of the most unique, luxurious and desirable condominiums building in all of South Beach.

Every condo was conceived to be THE most luxurious waterfront property in all of South Beach, each unit meant to be the equivalent of an “estate in the sky.” With only 68 units (some of which have been combined) Apogee is also one of the most private waterfront luxury condos avaialbe anywhere! Located within a few blocks of some of the best restaurants in South Florida such as Prime 112, Smith & Wollensky, The China Grill, and Joe’s Stone Crab to name a few, Apogee is truly one-of-a-kind.

Apogee in South Beach has just four impeccably designed residences per floor. There is also a flow-through design that ensures panoramic views of downtown Miami, Biscayne Bay, and Miami Beach. Apogee features just two floorplans, ranging in size from 3,200 sqare feet and 4,200 square feet. Each condo features 11’ deep balconies and can be tailored to individual owner’s specifications such as gas appliances and special “midnight” kitchens, a small mini-kitchen in the Master walk-in closet. Kitchens can also be equipped with multiple ovens, dishwashers, wine coolers, and fine European cabinetry.

Address & phone:
800 South Pointe Drive
Miami Beach, FL 33139
305-748-2058

For more information on these exquisite properties, click here.

Feel free to browse the The Kleer Team's Blog for Miami home tips, community news & Miami Beach Real Estate stories. Searching for Miami Beach Luxury Real Estate investment? The Kleer Team will help you find luxury South Beach Condos and Miami Beach Homes perfect for your needs.

The former South Beach Community Hospital site in South Beach has been sitting empty and abandoned for many years. Located at the corner of Sixth Street and West Avenue to Alton Road, this is a prominent gateway to Miami Beach. Nearly all traffic headed East onto the island of Miami Beach from the Mac Arthur Causeway passes this site. The site of the former hospital represents a very large area of land, especially if combined with the former Vitri Site on the corner of Fifth and West Avenue / Alton Road.

Developer Russell Galbut held a meeting recently and proposed his development plans centered at 630 Alton Road, which is owned by Galbut’s Crescent Heights Development Company. Below is a picture of the initial (and unapproved thus far) mixed use proposal for the former Miami Beach Community Hospital site (and adjoining parcels).SoBePark (the overall proposed name of the site) also would have 200,000 square feet of residences and other features, including a public park. One of the Architects at the meeting re-envisioned the three blocks at the core of the West Avenue complex as having one level of underground parking and two levels of retail space, to be topped off with the park. A separate garage on a site northeast of the proposed retail center also will be topped off with green space. The architectural plan (thus far) is to have a residential tower on the southern end of the site, with the goal of reconfiguring the MacArthur Causeway off-ramp onto Alton Road. This would create a better flow of car traffic and better pedestrian access in and around the area, according to the Developer. Mr. Galbut wants to build 450,000 square feet of upscale retail resembling The Colonnade Outlets at Sawgrass Mills. The public is encouraged to continue participating in the process of shaping this important Miami Beach mixed use project.

The main beneficiaries of a redevelopment of the Sixth and Alton Site (whether it be retail / residential/ or combined commercial with residential development) will be the luxury condo residents in the immediate area. The former Miami Beach Community Hospital site is directly across from The Bentley Bay, which is located on the water on Sixth Street & West Avenue. The Bentley Bay condos were originally sold and marketed as Miami Beach's luxury gateway, with incredible views of Biscayne Bay and downtown Miami. In the immediate North of Fifth area along Alton Road is the Fifth and Alton Shopping Center, a thriving retail destination.

The soon to be revitalized Sixth and Alton / West Avenue area of Miami Beach should also benefit the nearby "South of Fifth" condo buildings across the street as well, especially Icon South Beach & The Murano Grande. The former South Shore Hospital site is the last large land area in Miami Beach that has been undeveloped, or needing to be redeveloped, since Miami Beach began its real estate and tourist renaissance in the mid 1990's. The proposed SoBePark Development, as outlined by Mr. Galbut & Crescent Heights, has a strong chance to transform the West Avenue / Alton Road area into Miami Beach's most desirable place to live, shop, work and play.

MIAMI BEACH RE-DEVELOPMENT ARTICLE LINKS :
http://www.bizjournals.com/southflorida/print-edition/2011/10/07/crescent-heights-to-build-on-former.html

http://www.bizjournals.com/southflorida/news/2012/04/27/a-park-tops-crescent-heights-planned.html

http://therealdeal.com/miami/blog/2012/04/26/miami-beach-gets-eight-proposals-for-convention-center-revamp/

http://www.miamiherald.com/2012/04/19/2757805/developer-to-review-design-proposals.html

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.

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.

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:

St. Regis Bal Harbour Condos and Hotel - Now Open to the Public

Five-star ultra-luxury living has arrived in Bal Harbour with the January 19th, 2012 official opening of the St. Regis Bal Harbour Resort. Designed by Sieger Suarez Architectural Partnership, with interiors by world renowned Yabu Pushelberg, the St. Regis Bal Harbour Resort with its 268 private residences, 183 hotel rooms, 37 condominium-hotel suites and 24 fractional Residences is a model for superiority in exclusivity and grandeur.

Visit our main St. Regis Condo page for complete information on St Regis Bal Harbour Condo & Residences including current listings and floorplans!

The official launch of this nine-acre, oceanfront paradise situated at 9703 Collins Avenue on Miami Beach's elite Bal Harbour enclave (just north of Miami Beach), welcomes guests and residents to a true FIVE star destination. White gloved-concierge service is ready to greet, anticipate and accommodate every need and want imaginable at the impeccably designed hotel-condo. The St. Regis Bal Harbour completed construction at the end of 2011 with three magnificent glass enclosed towers, a center placed Resort Hotel and North and South Tower condo residences. The St. Regis Bal Harbour Resort was showcased on Forbes short list of 10 hotels to watch in 2012 and has been the talk about town as the epitome of class, incomparable service and unmatched supremacy among hotels in Bal Harbour.

St. Regis Bal Harbour Resort Hotel has twenty seven floors with a total of 243 accommodations for elite, sophisticated guests. The spacious and exquisite seaside sanctuary features seven uniquely appointed guestroom, studio and suite options from Ocean View to Royal to Presidential Suites. Everything from fine ocean-facing balconies with breathtaking floor-to-ceiling panoramic views, five-fixture marble bathrooms, intelligent-control Butler service technology, LCD televisions embedded in the mirrors, and smart technology make staying at this splendid location an unforgettable experience. For more detailed infomation on the St. Regis Bal Harbour, including detailed floorplans, click the picture below.

Please call our office for a complete tour of the St. Regis property, as it is difficult to get an accurate idea of the incredible finishes, layouts, and ultra-luxury amenities without actually seeing it in person. This is a true five star (AAA rated) Oceanfront property with private butler services, and every white glove amenity and service option imaginable.

Below is the latest developer availability. Please go to our St. Regis webpage to see a general layout of the three main buildings and download specific floorplans. Note that all three buildings are in the process of closing, which means that NOW is the time to get the best possible deal. Some of the owners who contracted to purchase a few years ago may no longer be interested in closing.

Visit our main St. Regis Condo page for complete information on St Regis Bal Harbour Condo & Residences including current listings and floorplans!

Developer Inventory as of this writing:

St. Regis Condominium North Tower:

“THE BESPOKE COLLECTION”
Victoria Model, Flow Through, Ocean & Bay views
3,269 sq ft (interior sq ft), 3 bed/ 3 1/2 baths, delivered “Decorator ready”
St. Regis Condominium #2004 - Asking Price $3,900,000
St. Regis Condominium #2404 - Asking Price $4,100,000

“THE BESPOKE COLLECTION”
Excelsior Model, Through, Ocean & Bay views
6,848 sq ft (interior sq ft), 5 bed/ 5 1/2 baths, Library, Family room, Staff room delivered “Decorator's ready”
St. Regis Condominium #2102 - Asking Price $10,850,000

"A" MODEL, Corner unit,
True Flow-through floorplan (East to West) with Ocean & Bay views
3,889 sq ft (interior sq ft), 3 bed + media room/ 3 1/2 baths, delivered “Decorator ready”
St. Regis Condominium #601 - Asking Price $5,150,000
St. Regis Condominium #801 - Asking Price $5,250,000
St. Regis Condominium #1201 - Asking Price $5,450,000
St. Regis Condominium #1701 - Asking Price $5,650,000
St. Regis Condominium #2101 - Asking Price $6,400,000

"B" MODEL, Flow through, Ocean & Bay views
3,421 sq ft (interior sq ft), 3 bed/ 3 1/2 baths, delivered “Decorator's ready”
St. Regis Condominium #1502 - Asking Price $4,350,000 (Modified unit)
St. Regis Condominium #2002 - Asking Price $4,600,000

"B" MODIFIED MODEL, Flow through, Ocean & Bay Views
3,153 sq ft (interior sq ft), 3 bed/ 3 1/2 baths, delivered “Decorator's ready”
St. Regis Condominium #502 - Asking Price $3,300,000

"C" MODEL, Flow Through, Ocean & Bay views
3,421 sq ft (interior sq ft), 3 bed/ 3 1/2 baths, delivered “Decorator's ready”
St. Regis Condominium #1503 - Asking Price $3,950,000
St. Regis Condominium #2503 - Asking Price $4,600,000

"C" MODIFIED MODEL, Flow Through, Ocean & Bay views
3,153 sq ft (interior sq ft), 3 bed/ 3 1/2 baths, delivered “Decorator's ready”
St. Regis Condominium #503 - Asking Price $3,200,000

"D” MODEL, Direct ocean front
1,903 sq ft (interior sq ft), 2 bed/ 2 ½ baths, delivered “Decorator's ready”
St. Regis Condominium #1804 - Asking Price $2,250,000
St. Regis Condominium #1904 - Asking Price $2,275,000
St. Regis Condominium #2204 - Asking Price $2,300,000
St. Regis Condominium #2704 - Asking Price $2,650,000

"E" MODEL, Bay view
1,782 sq ft (interior sq ft), 2 bed/ 2 1/2 baths, delivered “Decorator's ready”
St. Regis Condominium #605 - Asking Price $1,700,000
St. Regis Condominium #805 - Asking Price $1,750,000
St. Regis Condominium #1805 - Asking Price $2,200,000

St. Regis Condominium South Tower:

“THE BESPOKE COLLECTION”
Mayfair Model, Flow Through, Ocean & Bay views
3,912 sq ft (interior sq ft), 4 bed/ 5 1/2 baths + Den + Staff room, delivered “Decorator's ready”
St. Regis Condominium #1903 - Asking Price $5,600,000
St. Regis Condominium #2103 - Asking Price $5,800,000
St. Regis Condominium #2403 - Asking Price $6,100,000

“THE BESPOKE COLLECTION”
Chelsea Model, Flow Through, Ocean & Bay views
3,688 sq ft (interior sq ft), 3 bed/ 3 1/2, Den, delivered “Decorator's ready”
St. Regis Condominium #2204 - Asking Price $4,750,000
St. Regis Condominium #2704 - Asking Price $5,800,000

“THE BESPOKE COLLECTION”
Victoria Model, Flow Through, Ocean & Bay views
3,269 sq ft (interior sq ft), 3 bed/ 3 1/2 baths, delivered “Decorator's ready”
St. Regis Condominium #1504 - Asking Price $3,600,000
St. Regis Condominium #2104 - Asking Price $3,950,000
St. Regis Condominium #2304 - Asking Price $4,200,000

“THE BESPOKE COLLECTION”
Excelsior Model, Through, Ocean & Bay views
6,848 sq ft (interior sq ft),5 bed/ 5 1/2 baths, Library, Family room, Staff room delivered “Decorator's ready”
St. Regis Condominium #2202 - Asking Price $10,900,000

"A" MODEL, Corner unit, Flow through, Ocean & Bay views
3,889 sq ft (interior sq ft), 3 bed + media room, 3 1/2 baths, delivered “Decorator's ready”
St. Regis Condominium #501 - Asking Price $5,050,000
St. Regis Condominium #2001 - Asking Price $6,200,000

"B" MODEL, Flow through, Ocean & Bay views
3,421 sq ft (interior sq ft), 3 bed/ 3 1/2 baths, delivered “Decorator's ready”
St. Regis Condominium #1602 - Asking Price $4,400,000
St. Regis Condominium #2102 - Asking Price $4,650,000

"B" MODIFIED MODEL, Flow through, Ocean & Bay Views
3,153 sq ft (interior sq ft), 3 bed/ 3 1/2 baths, delivered “Decorator's ready”
St. Regis Condominium #502 - Asking Price $3,450,000
St. Regis Condominium #602 - Asking Price $3,500,000

"C" MODEL, Flow Through, Ocean & Bay views
3,421 sq ft (interior sq ft), 3 bed/ 3 1/2 baths, delivered “Decorator's ready”
St. Regis Condominium #1203 - Asking Price $4,100,000
St. Regis Condominium #1603 - Asking Price $4,250,000

"C" MODIFIED MODEL Flow Through, Ocean & Bay views
3,153 sq ft (interior sq ft), 3 bed/ 3 1/2 baths, delivered “Decorator's ready”
St. Regis Condominium #503 - Asking Price $3,350,000
St. Regis Condominium #803 - Asking Price $3,450,000
St. Regis Condominium #1003 - Asking Price $3,550,000

"D” MODEL, Direct ocean front
1,903 sq ft (interior sq ft), 2 bed/ 2 ½ baths, delivered “Decorator's ready”
St. Regis Condominium #504 - Asking Price $1,775,000

"E" MODEL, Bay view
1,782 sq ft (interior sq ft), 2 bed/ 2 1/2 baths, delivered “Decorator's ready”
St. Regis Condominium #805 - Asking Price $1,700,000
St. Regis Condominium #1105 - Asking Price $1,850,000
St. Regis Condominium #1605 - Asking Price $2,050,000

St. Regis Condominium Center Tower (Condo / Hotel) East Tower:
The condominium residences in the Hotel Tower are located on the top three floors only. Yabu & Pushelberg Suites, Special-collection fully furnished one-of-a-kind Residences:

RESIDENCE F3 MOD-25th Floor South: Direct unobstructed ocean view
2054 sq ft (interior sq ft), 2 Bedrooms & 3 baths
St. Regis Condominium #2502 - Asking Price $5,300,000

RESIDENCE F3 MOD-25th Floor North: Direct unobstructed ocean view
2,054 sq ft (interior sq ft), 2 Bedrooms & 3 baths
St. Regis Condominium #2501 - Asking Price $5,300,000

“C” MODEL SOUTH: Direct unobstructed ocean view
2,389 sq ft (interior sq ft), 2 bed + den 2 1/2 baths, delivered “Decorator’s ready”
St. Regis Condominium #2508 - Asking Price $3,300,000
St. Regis Condominium #2708 - Asking Price $3,500,000

“C” MODEL NORTH: Direct unobstructed ocean view
2,389 sq ft (interior sq ft), 2 bed + den 2 1/2 baths, delivered “Decorator’s ready”
St. Regis Condominium #2707 - Asking Price $3,400,000

“D” MODEL SOUTH: Direct unobstructed ocean view
1,791 sq ft (interior sq ft), 1 bed + den 2 baths, delivered “Decorator’s ready”
St. Regis Condominium #2512 - Asking Price $2,200,000 (with Pre-wiring)
St. Regis Condominium #2712 - Asking Price $2,400,000

“D” MODEL NORTH: Direct unobstructed ocean view
1,791 sq ft (interior sq ft), 1 bed + den 2 baths, delivered “Decorator’s ready”
St. Regis Condominium #2715 - Asking Price $2,300,000

Visit our main St. Regis Condo page for complete information on St Regis Bal Harbour Condo & Residences including current listings and floorplans!

Summarizing the top 21 most expensive sales of luxury homes and condominiums in Miami Beach's real estate market for the final quarter of 2011:

As indicated at bottom of this blog post, Eleven condominiums priced over $3 Million sold in Miami Beach in the final quarter of 2011 for an average price of $1,765 per square ft. of living space.

Also indicated at the bottom of the blog post, TEN waterfront homes in Miami Beach priced over $2 Million were sold in the final quarter of 2011, at an average sales price of $720 per square ft. of living space.

The available Miami Beach luxury waterfront home and condo inventory drastically declined last year. As I previously highlighted in my 2011 Miami Beach Condos Year End Review, affluent foreign (and mostly cash buyers) have been taking advantage of recent real estate price corrections by spending over $3 BILLION in purchasing luxury homes andn condos in Greater Miami. As a result, we've seen a dramatic drop in
Miami Beach's premier waterfront home and condo inventory. The most searched and sought-after Miami Beach waterfront homes are in the luxury island communities of Palm, Star, Hibiscus, Sunset Islands I - IV, and the Venetian Island Chain that links Miami with Miami Beach. The highest priced condo buildings are The Continuum on South Beach, Apogee Miami Beach, The IL Villaggio (directly on Ocean Drive), The Bath Club (North Beach area), and The Setai Condo/Hotel on Collins Avenue.

Given the strong anti-development sentiment and building regulations in Miami Beach, the future supply of premier waterfront homes and condos in Miami Beach will continue to be VERY limited. Combined with an amazing city and beach lifestyle, I believe that high net worth foreign cash buyers to will continue to invest in Miami Beach luxury homes and condos in premier locations. Therefore, I'm convinced that in 2012 we will see strong price appreciation for premier waterfront Miami Beach homes and condos.

Below are the Top 21 Closed Sales of Miami Beach Homes and Condos for the Final Quarter of 2011:

A quick summary of what's been happening in Miami Beach's condo market in 2011, especially for the premier waterfront luxury condo buildings built after 2001:

Over the past six months, the available Miami Beach condo inventory has drastically declined. As indicated in a recent Miami Herald Article (click for details), high net worth foreign & mostly cash buyers have been taking advantage of recent Miami Beach Real Estate price corrections by spending over $3 BILLION on SE Florida Real Estate in 2011. As a result, we've seen a dramatic drop in Miami Beach's condo listing inventory. Given the lack of (a.k.a. NONE LEFT) waterfront land, the existing Art Deco architectural protections and building restrictions, as well as highly restrictive regulatory and construction codes- the future supply of premier waterfront condos in Miami Beach will continue to be very limited.

Especially noteworthy for Miami Beach are the high $/Sq.Ft. closed sales prices in premier waterfront condo buildings such as The Setai, The Continuum on South Beach, Apogee South Beach, and the W Hotel/Condo Residences. The highest priced sale (in terms of $/Sq. Ft) for Miami Beach condos in 2011 were the following:

The Setai Miami Beach Penthouse Penthouse A for a staggering $3,463 /Sq.Ft. ($21,500,000)
The Continuum North Tower Condo #2101 for $1,674 /Sq.Ft. ($5,050,000)
Apogee Miami Beach Condo #1603 for $2,177 /Sq.Ft. (6,000,000)
The W Condo/Hotel Residence Upper Penthouse #3 for $2,142 / Sq.Ft. ($5,200,000)

Below are the past six months Sales Statistics for Miami Beach Luxury Condos (South Beach zip code 33139):

The Continuum South Beach Condos have all of the amenities and features of a five star resort.The Continuum also happens to be located in THE best Oceanfront location in all of Miami Beach- at the extreme Southeastern tip of South Beach. This makes The Continuum a popular destination for visitors and notables from around the world, including many Hollywood celebrities.

While exercising at The Continuum's Sporting Club recently, I noticed that working out right next to me was none other than Ryan Seacrest (who's in excellent shape and works out HARD!). Ryan has been spotted at The Wall Nightclub in Miami Beach, and is known to enjoy the many attractions that Miami Beach has to offer.

The Continuum's Sporting Club recently underwent extensive renovations to the Men's and Women's locker room / private Spa areas, as well as acquiring all-new fitness equipment. Brand new cardiovascular machines, weight machines, and various other upgrades were recently completed. The Sporting Club @ Continuum is now a world class fitness center- available exclusively to residents and guests of The Continuum Condominiums.

The Continuum South Tower common area renovations have also been completed (see pictures below). The new South Tower lobby and condo building common areas look amazing! The Continuum South Tower is now on a par, if not exceeding, the highest luxury and decor standards set by nearby South of Fifth luxury condo buildings- such as Apogee, The Murano at Portofino, and Icon South Beach.

As the Winter a.k.a. "High Season" approaches, we're witnessing a continuation of strong Buyer demand for Miami Beach luxury condos. I've written extensively this year about the sales surge in South Beach luxury condos to Foreign Buyers, some of these Miami Beach condo sales can be seen by clicking HERE. I'd like to highlight our clients eight most popular waterfront luxury condo buildings in Miami Beach.

The Continuum on South Beach (South of Fifth Condo)
This is my personal favorite luxury condo building- an incredible location on Miami Beach- and quite possibly THE best condo location anywhere! The Continuum Condos feature two Oceanfront Towers located on a twelve acre site at the southernmost tip of Miami Beach. Unlike most luxury condos, the twelve acre site on which The Continuum condos are located is mostly devoted to resort-like amenities. The North and South Condo Towers occupy only a small fraction of the twelve acres comprising The Continuum common areas.

The Continuum features two massive lagoon pools, three lit tennis courts, an incredible 12K + Sq. Ft. Fitness Center and many other luxury amenities. The residences are on a par with or exceeding most luxury properties with Five Star Resorts. The Continuum Miami Condos are located next to the best South of Fifth restaurants, lounges, and major tourist attractions.

Apogee South Beach Condos (South of Fifth Ultra-Luxury Condos)
Each Apogee Miami Beach condominium was built to be the equivalent of a penthouse in the sky. With just two basic floorplans, each individual condominium features 10' floor to ceiling windows, a gas grill on each terrace (unique in all of Miami Beach), and extra sound-insulation concrete barriers between condos and floors. This was the last of the luxury condo buildings built in the South of Fifth Neighborhood, with just 67 boutique ultra-luxury residences.

Apogee South Beach Condos are located next to South Pointe Park, at the southernmost tip of Miami Beach. Apogee South Beach Condos generally sell for a premium above all the other buildings listed in this article- with prices starting well over $4 Million for the smallest floorplan.

The Murano at Portofino (South of Fifth Condo)
This was The Related Group's first luxury condo building to be built and designed from the ground up. Along with The Continuum & Apogee, this condo is among the most popular South of Fifth luxury condo buildings. The Murano at Portofino is the only luxury building to feature both a fresh water and salt water pool, along with The Piaggia Beach Club.

The Murano at Portofino Condos are considered boutique, in that the three towers comprising this condominium complex feature a total of 188 condominiums. The Murano features a beautiful two story lobby, and Bayfront Townhomes facing the Miami Beach Marina and incredible views of Downtown Miami in the distance.

Icon South Beach (South of Fifth Condo)
This condo building was designed by Philip Starck, and is especially popular with Europeans and Northeastern condo buyers. Icon South Beach was completed in 2005, and shares a common entrance with the Murano Grande. Featuring an incredible & contemporary Fitness Center, along with two pools (lap pool and infinity edge wading pool), almost all Icon South Beach condos have views of the either Miami Beach or Downtown Miami skyline. Located at the entrance to Miami Beach (just off of Fifth Street), the Icon South Beach Condos appeal to the luxury buyer, especially those that look for a contemporary and minimalist design with grand building amenities.

The Portofino Tower (South of Fifth Condo)
The original South of Fifth Condo Building built during the Miami Beach real estate renaissance that began in the 1990's. The Portofino Tower set the contemporary standard for Miami Beach luxury condo buildings, as this was the first high-rise condo building built in the South of Fifth Neighborhood in over 15 years (constructed in 1997).

The Portofino Tower features a unique and incredible fitness center located on the 27th floor, with panoramic views of the City of Miami Beach, Downtown Miami, Fisher Island, and the cruise ships of sailing out towards the Atlantic Ocean.

The Il Villaggio (South Beach / Ocean Drive Condo)
The ONLY ultra-luxury boutique condo building located at the northermost tip of Ocean Drive. The IL Villaggio is next to Lummus Park, which recently underwent a complete renovation with improved landscaping and oceanfront walkways.

The Il Villaggio Condos are considered among the most exclusive and private luxury residences in all of Miami Beach. This is a boutique condo building with only 127 total condominiums and 17 stories in height. Many Hollywood and International celebrities call this building home (or vacation home).

The Akoya Miami Beach (Mid-Miami Beach Area)
The Akoya luxury condominiums are located on Collins Avenue, in one of Miami Beach's best Oceanfront locations. The Akoya condominiums were originally conceived as the sister building to the nearby Blue and Green Diamond condos.

The unique appeal of The Akoya condos are that they are moderately priced luxury condominiums, with incredible views in almost all directions. The Akoya Condo Tower sits on a unique Oceanfront property that has unobstructed views to the West, and the building rises well above all obstructions to the North and South.

The Bath Club (Mid-Miami Beach Area)
Built on the site of the historic Bath Club resort, this contemporary condo tower and luxury townhome residences are THE most luxurious oceanfront condominiums in the Mid-Beach area of Miami Beach. Located just north of what was once termed "Millionaires Row", The Bath Club was built with the highest quality construction materials in all of Miami Beach. The Developer (Arthur Peebles) took great care in making sure that no attention to detail was overlooked. The entrance is a multi-story atrium lobby with Venetian Plaster and contemporary artwork welcoming residents and guests.

The Bath Club sits on 5+ Oceanfront acres, with starter condos of two bedroom + luxury residences. The Bath Club residences are ideal for the Miami Beach luxury condo buyer looking for an ultra-luxury residence to get away from the bustle of South Beach.

Below are the past thirty days closed sales of Miami Beach Luxury Condos: