China Enters Florida Real Estate Market South Florida is the Nation’s Epicenter in Real Estate to Foreign Buyers

Oceanfront Villa at One Thousand Ocean Sells for $4 Million

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One Thousand Ocean, a luxury condo building in Boca Raton, hit sales of $205 million this month, after the purchase of a beach villa for $4 million.

The villa was paid for in cash by an unnamed resident of Virginia. One Thousand Ocean is located on a peninsula adjacent to the renowned Boca Beach Club and extends from the Atlantic Ocean to the Intracoastal Waterway.

The seven-story luxury beachfront building features 52 residences, with beach villas, waterfront condominiums and luxury penthouses. The developement is of the same caliber as Luxuria, The Excelsior and Mizner Tower, all also located in Boca Raton.

The exclusive oceanfront residences range from $3 million to more than $15 million.

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New Luxury Condominium Projects Under Construction in Miami

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There has been a lot of movement in the luxury real estate market this past year. Buyers from the United States, Canada, Europe and South America have purchased a large majority of the available inventory. Inventory is low, so developers from around the world are flocking to South Florida to build new luxury waterfront condo buildings.

5 Oceanfront Condominiums Currently Under Construction in Miami:

  1. 4001 North Ocean Condominium-Luxury oceanfront condominiums located at 4001 North Ocean Boulevard, Gulf Stream, Florida, featuring a beautiful oceanfront pool and luxurious spa.
  2. Bellini-Located at 4100 Williams Island Boulevard, Aventura, Florida. There are 70 spacious residences throughout the building. 24 floors, with only 4 units per floor.
  3. Regalia-Luxurious oceanfront property located at 19505 Collins Avenue in Sunny Isles Beach. The building is set right by some of the best shopping and nightlife South Florida has to offer. This unique building has 39 residences, with only one unit per floor.
  4. Mansions at Acqualina- A luxury oceanfront condo tower located at 17749 Collins Avenue in Sunny Isles Beach. These ultra-exclusive condos offer spectacular views and unique floor plans.
  5. Chateau Beach-A unique luxury oceanfront condo building located at 17475 Collins Avenue in booming Sunny Isles Beach. This elegant building offers units ranging from 1,500 to 5,000 square feet.

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More Waterfront Developments Planned for South Florida

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There are more than 80 new beachfront residential buildings planned for South Florida over the next couple of years.

A few of the driving forces for the influx of luxury waterfront properties are the increasing rental rates in the area, new residents from various parts of the world and the lack of inventory. Luxury waterfront condominiums are selling at a rapid rate, leaving low inventory and high demand.

A few of the most popular areas for new, waterfront developments are Sunny Isles Beach, Bal Harbour, Key Biscayne, Miami Beach and Greater Downtown Miami.

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Finding the Right Estate Manager for Your Luxury Waterfront Home

Finding the Right Estate Manager for Your Luxury Waterfront Home

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Many of the exclusive estates purchased in South Florida are second or third homes. To keep your investment in order, you need an estate manager who is dedicated, trustworthy and competent.

How to Find a Reliable Estate Manager for Your Luxury Waterfront Estate

  1. Word of Mouth-Ask your friends and neighbors if they know someone reliable and available. If you own a luxury oceanfront condominium, ask the concierge for advice.
  2. Personal Assistant
  3. Local Companies-Local placement agencies do background checks, but you should still check references yourself. Ask your friends, business associates and neighbors to recommend the most reliable companies.

Skills to Look for in an Estate Manager

  • Knowledge of items
  • Etiquette and cultural knowledge
  • Negotiation skills
  • Resourcefulness
  • Leadership skills
  • Project management
  • Business management (finance, computers, organization)

Source: The New York Times

 

Beautiful View of Golden Beach

Golden Beach

 

 

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Niki Higgins Sells Palm Beach Estate Home

Niki Higgins Sells Palm Beach Estate Home

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Niki Higgins, the broker and owner of Seaside Properties Group at Douglas Elliman, recently sold a luxury seaside estate located in beautiful Palm Beach, Florida.

Niki Higgins said her clients were very discerning and had been looking for the right Palm Beach home for awhile. Her clients were immediately taken with the charm of this special luxury seaside estate.

The estate home was originally purchased by Gloria and Joseph W. McCarthy in 1999. Joseph McCarthy is a former president of the Motel 6 chain and the retired CEO of the U.S branch of Accor Corp.

They purchased the estate for $4.825 million during construction. The six-bedroom luxury home has 13,217 square feet, an exquisite foyer with a double staircase and loggias framing a pool and fountain. There is also a detached guesthouse. The glorious estate is located six blocks north of the Mar-a-Lago-Club and just one lot west of South Ocean Boulevard.

Over the last few years, the former owners hosted social events honoring the Palm Beach Round Table lecture series and the American Society for the Prevention of Cruelty to Animals.

The McCarthys felt it was the right time to downsize, since their children moved into their own homes. They now live in a new waterfront condo at One Watermark Place in West Palm Beach.

Source: Palm Beach Daily News

luxury seaside estate 110 clarendon, palm beach, miami,

Luxury Seaside Estate

 

 

 

 

 

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Another High End Sale in Palm Beach

Another High End Sale in Palm Beach

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Another notable luxury real estate sale took place in North Palm Beach. A seven-bedroom estate sold for $21.17 million, according to the Palm Beach County Clerk’s office.

The Tuscan-style oceanfront home was built in 1997. This waterfront mansion is surrounded by 4 acres and 247 feet of ocean frontage.

The exquisite estate includes a spacious home theater, VIP guest suite and a wine room. The previous owner sold another 2.71 acres of the property for a recorded $10 million in 2009.

The lucky owner is a single man looking for a sizable oceanfront estate away from traffic. He is planning on making this his permanent residence.

Source: Palm Beach Daily News

 

beautiful front view of luxury oceanfront estate located at 12210 Banyan Road, palm beach

12210 Banyan Road

 

 

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Palm Beach Luxury Housing Market is Continuing to Improve

Palm Beach Luxury Housing Market is Continuing to Improve

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The Palm Beach real estate market is catching up to Miami’s booming market.

Palm Beach has always been a popular location for luxury homeowners because of the fine boutiques, 5 star restaurants and unrivaled ocean views. Unfortunately, the housing market crash put a hold on the purchasing of luxury oceanfront homes for a while.

According to the Realtors Association of Palm Beach, the median price of condominiums in Palm Beach County rose 16 percent this August, compared to the same time last year.

“Buyers who were sitting on the sidelines became very active after the first of the year,” said Bonnie Lazar, 2012 president of the Realtors Association of the Palm Beaches. “As a result, inventory moved quickly and changed the dynamics of the market, sparking an increase in the median price of single-family homes.”

A few of the sought-after luxury oceanfront condo buildings located in Palm Beach are The Excelsior, Luxuria, Bellaria, One Watermark Place, Dolcevita and The Ritz-Carlton Residences.

 

Dolcevita

Dolcevita

 

Luxuria, luxury oceanfront condos, palm beach, miami, fort lauderdale

Luxuria

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Paradise Found in a South Florida

Paradise Found in a South Florida

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Visitors from Europe, South America, Canada and various parts of the United States are flocking to South Florida and buying what is left of the city’s real estate.

Here are 6 of the Best Things South Florida has to Offer its Newest Residents:

  1. 5 Star Restaurants
  2. Championship Golf Courses
  3. Luxury Spas-The Setai was named one of “The World’s Best Spa Resorts” by the Five Star Alliance.
  4.  Beautiful Beaches
  5. Luxury Shopping
Acqualina located on Collins Avenue, Miami Beach

Acqualina Luxury Residences

 

Canyon Ranch Living, Miami Beach

Canyon Ranch Living

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Jennifer Lopez’s Former Miami Beach Estate is on the Market for $40 Million

Jennifer Lopez’s Former Miami Beach Estate is on the Market for $40 Million

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Jennifer Lopez, singer and actor, sold her Miami Beach estate for $13.9 million back in 2005. The oceanfront property was purchased by Mark Gainor, a health care entrepreneur.

After purchasing the lavish mansion, they put a further $11 million into the home. It consists of 12,000 square feet of living space, seven bedrooms, nine and half baths and 1.21 acres of land. The exquisite Miami Beach estate also features koi ponds, beautiful gardens and a large pool.

In 2010, they put the house back on the market unsuccessfully for $28 million.

Gainor has now put the luxury oceanfront estate on the market for $40 million, hoping to ride the new real estate buying wave.

Source: Miami New Times

Jennifer Lopez's Former Miami Beach Estate

Jennifer Lopez’s Former Miami Beach Estate

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New Construction in Sunny Isles Beach

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Sunny Isles Beach has become a hotbed for new residential construction. About six new luxury oceanfront condos are proposed for the barrier island over the next couple of years.

Some of the newly proposed luxury condominiums in Sunny Isles Beach are Chateau Beach, 400 Sunny Isles, Mansions at Acqualina, Porsche Design Tower and Regalia. It’s possible units in these buildings will be sold out by the end of 2012.

Foreign buyers have been eying South Florida real estate. Many of the foreign buyers are looking for good deals and a safe place to invest their cash.

Sunny Isles Beach was created about 15 years ago. At the time, the stretch of beach in Miami was covered with theme-oriented boutique hotels from the 1950’s. Developers realized that this area was ideal for beachfront condos.

At this point, Regalia is the only new tower under construction. The Regalia is a 43-story, luxury oceanfront residential building, featuring 39 units overlooking Golden Beach.

Source: The Miami Herald

 

 

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