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Overseas Buyers Continue to Flock to Miami

Overseas Buyers Continue to Flock to Miami

Posted in Florida Economy, Luxury Real Estate, Miami | No Comments

An increase of wealthy overseas buyers purchasing vacation homes with cash has kept the Miami real estate market extremely active.

The latest data released by Douglas Elliman shows an increase in prices at the luxury end of the real estate market. The high end market is defined as the top 10 percent of sales. For luxury condos, the average sales price in the first quarter of 2013 was 1.57 million dollars, an increase of 18.5 percent. The sales price of luxury homes also showed a significant increase of 15.4 percent.

The influx of foreign buyers has also spurred the construction of new oceanfront condos, such as 321 Ocean and One Ocean in Miami Beach.

Source: The Wall Street Journal

One Ocean Luxury Oceanfront Condos in Miami

One Ocean, Luxury Oceanfront Condos in Miami

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Developers Tailor Residences for International Buyers

Developers Tailor Residences for International Buyers

Posted in Florida Economy, Luxury Real Estate, Miami | No Comments

Overseas buyers continue to purchase second homes in the US, and developers are customizing their projects to appeal to the new international audience. With no slowdown in sight to the influx of global buyers, developers are finding ways to customize the interiors of residential condos to appeal to the international buyers.

26% of 2012 home sales in Florida went to foreign buyers. In Miami, overseas buyers accounted for 60% of residential sales. Due to a large South American influence, Miami developers are focusing on creating modern interiors and balconies large enough to accommodate extended families.

At Faena House, new construction in Miami Beach, developers are referring to the units’ sprawling balconies as “aleros”, a Spanish word for patio. Also, since security is a lesser concern in Miami, many Brazilians purchase and keep their luxury cars in the US. Because of this, many of the newer and proposed luxury condo buildings offer elaborate private garages and services, such as auto elevators at the Porsche Design Tower in Sunny Isles Beach.

Source: The Wall Street Journal

Large Balconies in the Porsche Design Tower

Large Balconies in the Porsche Design Tower

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Over Half of the Units in the Porsche Design Tower Are Under Contract

Over Half of the Units in the Porsche Design Tower Are Under Contract

Posted in Luxury Real Estate, Miami | No Comments

The Porsche Design Tower currently has over half of its 132 units under contract, for a total of over 400 million dollars in sales at the luxury beachfront condo building. The 60-story tower is set to rise in Sunny Isles Beach.

“The initial success of the sales process has been nothing short of spectacular. It is a true testament to the new dimension Porsche Design Tower Miami is bringing to South Florida’s ultra-luxury, high-end real estate market.  There is no other product that delivers the ground-breaking ingenuity and superlative quality that is synonymous with Porsche Design,” Gil Dezer said.

Condos in the Porsche Design Tower will range in size from 4,200 square feet to 17,000 square feet, with prices ranging from 4.5 million dollars to 25 million dollars. The building provides one-of-a-kind “auto elevators”, which will allow residents to park their cars next to their units. A “car concierge” will be available to provide regular auto maintenance, car washing, etc.

The Porsche Design Tower Miami marks Porsche Design’s first venture into residential real estate. Dezer Development expects to break ground in April 2013 and plans for 33 months of construction.

Contact Niki Higgins at 1.888.242.4422 for more information on this exceptional tower.

Porsche Design Tower Miami

Porsche Design Tower Miami

 

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New Luxury Condos Coming to Brickell

Posted in Luxury Real Estate, Miami | No Comments

A luxury high-rise is coming to Brickell Avenue. Property Markets Group (PMG) will start taking reservations for Echo Brickell next week. The building will be the tallest residential tower in Miami to date.

The Carlos Ott-designed tower will rise 750 feet and include 250 condo units.  PMG believes the height and unobstructed water views will be selling points of Echo Brickell. The building will also feature large units and high ceilings, with penthouses spanning more than 7,000 square feet.

If everything goes smoothly, PMG plans to start building during the first quarter of 2014. Contact Niki Higgins at 1.888.242.4422 for more information on Echo Brickell or to see other luxury waterfront condos in Miami.

Source: The Miami Herald

Echo Brickell, New Construction in Miami

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Chateau Group Submits Plans for Two Miami Buildings

Chateau Group Submits Plans for Two Miami Buildings

Posted in Luxury Real Estate, Miami | No Comments

The Chateau Group has submitted plans to build two buildings in Miami around the Freedom Tower.

The 600 Biscayne Boulevard tower would rise 704 feet. The 700 Biscayne Boulevard tower would rise 709 feet. Both buildings would dwarf the 256-foot Freedom Tower.

The Chateau Group has been extremely active in Miami lately. The developers are also responsible for the luxury condo projects Chateau Beach in Sunny Isles and Chateau Ocean in Surfside.

Source: Curbed

Chateau Beach Residences

Chateau Beach Residences, Luxury Condos in Sunny Isles

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Luxury Condo Sells at the Exclusive Miami Beach Edition

Luxury Condo Sells at the Exclusive Miami Beach Edition

Posted in Luxury Real Estate, Miami | No Comments

Another luxury condo has sold at The Residences at the Miami Beach Edition, a hotel/condo project opening in April of 2014. The 2,000-square-foot unit sold for 6 million dollars. This follows the record-breaking sale of 2 combined penthouses in the Miami Beach Edition to a single buyer for 34 million dollars in early March.

The Residences at the Edition is a 26-unit project occupying the top floors of Ian Schrager’s 250-room Edition hotel. Each lavish residence will include floor-to-ceiling windows, Bulthaup kitchens and white onyx master bathrooms.

For more information on these exclusive residences and other Miami Beach condos for sale, contact Niki Higgins at 1.888.242.4422.

The Residences at the Miami Beach Edition

The Residences at the Miami Beach Edition, Luxury Condos in Miami

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Setai Condo Sells for $7.8 Million

Setai Condo Sells for $7.8 Million

Posted in Luxury Real Estate, Miami | No Comments

A luxury oceanfront condo residence in the Setai Miami Beach sold for $7.8 million. This is the highest price paid for a non-penthouse unit at the exclusive tower.

The 3-bedroom, 3.5-bathroom condominium contains 2,258 square feet, translating to $3,045 per square foot. The unit has panoramic ocean views, floor-to-ceiling glass and high-end finishes. In January, a Setai penthouse residence sold for a staggering $27 million.

At 40 stories, the Setai is one of the tallest oceanfront, residential towers in Miami Beach. The building offers amenities, such as a spa, staffed fitness center, 3 pools, maid service and room service.

Contact Niki Higgins at 1.888.242.4422 to inquire about other luxury condos for sale in the Setai.

Source: The Real Deal

Setai, Luxury Condos in Miami Beach

Setai, Luxury Condos in Miami Beach

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Extensive Renovations Are Complete at Fisher Island Club

Extensive Renovations Are Complete at Fisher Island Club

Posted in Luxury Real Estate, Miami | No Comments

Renovations on Fisher Island Club’s Racquet Club and Links Golf Club have been completed.

The interior of the 6,000-square-foot golf clubhouse was built out with exquisite millwork and finishes. The space includes an open lobby, pro shop, dining room and a waterfront dining patio. A new roof complements the original design of the building.

The Racquet Club also features extensive millwork and high-end finishes.

These two completed renovations were preceded by another major renovation to Fisher Island Club’s spa and fitness center. The 24,000-square-foot spa was outfitted with a lavish lobby, 6 pools and a state-of-the-art fitness facility.

Fisher Island Club is located on the private island community of Fisher Island, right off the shores of Miami.

Fisher Island Club Spa

Fisher Island Club’s Recently Renovated Spa

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Residences in Jade Signature Will Feature Spacious Terraces

Residences in Jade Signature Will Feature Spacious Terraces

Posted in Luxury Real Estate, Miami | No Comments

Jade Signature will have large terraces that make up approximately a third of the total living space. The 55-story luxury condo building is set to rise in Sunny Isles Beach in Miami.

Units will range from 1,400 to 10,000 square feet, with expansive terraces playing a major part in the total living space. The architectural firm of Herzog & de Meuron designed the building hoping to create a full connection to the land and environment.

“We created deep terraces and living rooms that have simultaneous views to the ocean in the east and to the Intracoastal to the west. We designed common areas to be on the ground level, connected with the beach, just as they were originally conceived for the beachfront hotels that have drawn people to Miami since the early 20th century,” Christine Binswanger, a senior partner with Herzog & de Meuron stated.

Herzog & de Meuron is widely recognized for 1111 Lincoln Road, a mixed-use project in Miami Beach. Jade Signature will mark their first residential development in Florida. Other prominent designers have also been commissioned for the luxury beachfront condominiums. Landscape architect Raymond Jungles will supply landscaping, and interior design firm PYR will outfit the interiors. This is the developer’s third Jade project. Jade Ocean and Jade Beach are also located in Sunny Isles Beach.

Source: South Florida Business Journal

Jade Signature, Luxury Condos in Sunny Isles Beach

Jade Signature, Luxury Condos in Sunny Isles Beach

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Design for One Thousand Museum Revealed by Zaha Hadid

Design for One Thousand Museum Revealed by Zaha Hadid

Posted in Florida Economy, Luxury Real Estate, Miami | No Comments

Star architect Zaha Hadid revealed the design for her proposed luxury condos in Miami. The 61-story tower, called One Thousand Museum, is her first residential project in the US. The tower is set to rise on Biscayne Boulevard in Downtown Miami.

The residences will start at $4 million, with penthouses costing in excess of $30 million.

A Pritzker Prize-winner, Hadid herself owns a condo in the W South Beach.

She recently told the Wall Street Journal, “I really love Miami, but I don’t think the architecture matches the city. It’s a bit too commercial.”

She is hoping to change that with One Thousand Museum. Hadid’s tower will capitalize on the Miami location, without sacrificing design.

Source: The Miami Herald

 

One Thousand Museum, luxury condominiums in Miami

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