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New Luxury Waterfront Condominium Buildings in Miami Beach are Selling Fast

New Luxury Waterfront Condominium Buildings in Miami Beach are Selling Fast

Many luxury beachfront condominiums in Miami have been selling before construction begins. Peloro, a new waterfront condo project set for construction in Miami Beach, has had great success selling units prior to construction. Sales started about three months ago, and seventy five percent of the proposed 115 units are already reserved.

Construction is set to begin in a few months. The oceanfront condo development has a planned completion date of 2014. The luxury residences will be located on Indian Creek, just minutes away from Bal Harbour and South Beach.

Located on the Intracoastal, Peloro will be seven stories high, with two and three bedroom units, a penthouse and a 2-story townhouse. The condominiums will range in size from 635 to 2,268 square feet.

Source: The Real Deal

peloro, luxury, waterfront, condos, miami beach, collins avenue, bayfront

Peloro, Luxury Waterfront Condo Tower in Miami

Historic Waterfront Home in Miami Beach is approved for Demolition

Historic Waterfront Home in Miami Beach is approved for Demolition

The Real Housewives of Miami star Lisa and her husband Dr. Leonard Hochstein recently received approval to tear down their Star Island home. They bought the 8,117-square-foot home for $7.6 million. The Hochsteins believe there are many issues with the house, such as cracks in the outside walls. According to them, the historic waterfront mansion cannot be salvaged.

The Miami Design Preservation League has been fighting to keep their home intact. The home was  built in 1925 and has recently been noted as historic, thanks to the preservation league’s efforts. The original house was designed by Walter DeGarmo, a prominent Miami-based architect.

William Cary, the city’s historic preservation director, states that the house wasn’t declared historic until after the Hochsteins purchased the home, making it unethical to deny their application.

“This is the most God-awful position that our staff can be placed in,” Cary said. “It would be ethically inappropriate for another board to intervene at this time.”

The new owners of the luxury waterfront estate plan on replacing the current home with a 14,000 square-foot mansion.

“I’m ecstatic,” Lisa Hochstein said after the approval. “I’m hopeful it will be done before this summer.”

The Hochsteins still need to receive building permits.

Source: The Miami Herald

New Condominium Tower Echo Aventura Makes a Splash in Miami

New Condominium Tower Echo Aventura Makes a Splash in Miami

Lavish parties for new construction appears to be back in style again in Miami. Last week, JDS Development Group and Property Market Group threw a soiree for their new condo project Echo Aventura, a luxury waterfront condominium tower located on Biscayne Bay in Miami.

JDS Development Group and PMG, both New York developers, introduced the $160 million Miami condo building last week, with women in pastel chiffon and Cirque du Soleil acrobats pouring the champagne. Construction on the waterfront development is set to start in June.

Echo Aventura will consist of 2 eleven story towers, featuring eighteen floorplans. The luxury condos will range in size from 1,510 to 4,020 square feet. Each condo will have a flow-through design, with spacious balconies.

Architect Carlos Ott and design firm Yabu Pushelberg are collaborating to create unrivaled style.


Source: The Real Deal


Echo Aventura

Echo Aventura Located in Biscayne Bay

Hollywood Beach Is a New Hot Spot for Luxury Beachfront Condos

Over the past couple of years Bal Harbour and Sunny Isles Beach have seen an influx of new waterfront development. Now, Hollywood Beach is seeing an increase in proposed oceanfront condo buildings.

New condos in Sunny Isles Beach include the Mansions at Acqualina, Porsche Design Tower, Regalia and Turnberry Ocean Colony. In Bal Harbour, luxury condos like Bellini, One Bal Harbour and St. Regis Bal Harbour have seen invigorated sales.

Now, developers are proposing 1,450 new condo units in the Hollywood and Hallandale Beach areas.

Waterfront and Oceanfront Condominium Towers Planned for Hollywood/Hallandale Beach Area:

Apogee-under construction

Sage Beach-planned

Beach One Resort-planned

Sky Harbor-planned

La Riviera-planned

Oceana-under construction


Positano Phase II-pre-construction

Faena District Planned to Put Miami Beach on Cosmopolitan Map

Faena District Planned to Put Miami Beach on Cosmopolitan Map

Alan Faena, a prominent Argentinean hotelier and developer, has aimed to revitalize Miami’s beachfront. His starting point is the Faena House Residences, a luxury oceanfront condominium complex on Collins Avenue.

“I’m working on one of the best projects in all of the Americas,” Faena stated. “We are creating a whole district.”

His plans for Miami include a five block district featuring a luxury condo building,  theater, cultural center and parking garage. Star architect Rem Koolhaus will create a structure containing a hotel and ballroom, retail space and robotic garage. The Miami Beach project will also include a 300-person theater, intimate cabaret and a possible redesign of the beach boardwalk at the Faena House site.

The Faena House is at the center of the district and is planned to be on the same scale as The Setai, The Continuum and Apogee. This luxury oceanfront condo building will consist of 19 stories, with three full-floor penthouses. Each condo will be fully furnished, with 1-5 bedrooms. Each oceanfront condo will have a custom-designed floor-to-ceiling window wall system. Sales at the Faena House started this week, and the building broke ground just last month.

Source: Forbes Magazine

Faena House

Faena House Residences Miami Beach

Two Luxury Oceanfront Condominium Towers Proposed in Sunny Isles Beach

Two Luxury Oceanfront Condominium Towers Proposed in Sunny Isles Beach

This past December, Manuel Grosskopf and Sergio Grosskopf launched construction on their first U.S. project, the Chateau Beach Residences, luxury beachfront condos in Sunny Isles Beach.

The Grosskopfs, originally from Argentina, have been actively investing in South Florida real estate for several years. Their Chateau Group helped finance the luxury condominium towers 900 Biscayne and Quantum on the Bay. The Chateau Group is known for the development of malls and luxury condominiums in Buenos Aires.

Construction on Chateau Beach Residences began in December and will be finished in approximately 2 years. The luxury oceanfront condominium will be 35 stories and include 84 residences, with various 2-5 bedroom floor plans. The residences will include floor-to-ceiling windows, offering breathtaking ocean and city views. Chateau Beach will also include a penthouse with a private swimming pool.

About 60 percent of the condos at Chateau Beach Residences are already sold. Many of the buyers are from Argentina, Brazil, Russia and Columbia.

Once Chateau Beach Residences is complete, development of Chateau Ocean in Surfside will take place. The Chateau Group purchased the site for $50 million last spring.

Source: The Miami Herald

pool, chataeu beach residences

Pool at Chateau Beach Residences

Palm Beach Real Estate Increases

The Ritz-Carlton Residences is a luxury development in Palm Beach that will include two beautiful condominium towers located right on the beach. Recently, twenty five million dollars worth of condo units were sold, bringing pre-construction sales to 70 percent. The Ritz-Carlton Residences were originally the 2700 North Ocean Drive condominiums.

“When we bought, we weren’t aware that this part of the coastline was so heavily used for turtle nesting,” Sternberg said. “Initially we thought this was a liability, but we said ‘let’s’ make it a positive.”

Lionheart invested about one hundred thousand dollars to protect the turtles. This paid for turtle-friendly, amber-colored outdoor lights, and new beach furniture that could be removed at night.

Residents will be educated about the turtles and their nesting season through a newsletter.

Source: South Florida Business Journal

Record Breaking Sale for an Oceanfront Penthouse at the Setai Miami Beach

Record Breaking Sale for an Oceanfront Penthouse at the Setai Miami Beach

Many waterfront estates run over ten million dollars in Miami, but we have never seen prices quite so high for luxury oceanfront condominiums. However, exorbitantly priced penthouses in Miami seems to be the current luxury real estate trend.

The Setai, an exclusive oceanfront condo tower in South Beach, just hit the highest price for a penthouse unit at $27 million. The price tag is the highest ever for a condominium in South Florida, according to real estate records. Located on the 40th floor, with 4 bedrooms, 4.5 bathrooms and 7100 square feet of luxury living space, this penthouse is an undeniably spectacular residence.

The Setai, is a trendy building, featuring 175 residences with floor-to-ceiling glass windows. Residents enjoy panoramic views of the beach, the ocean and Miami.

A close runner up, an oceanfront penthouse located in the Continuum sold for $25 million. The Continuum is also located in South Beach.


The Setai

The Setai South Beach

Miami Condominium Boom Continues

Miami Condominium Boom Continues

Luxury real estate inventory in Miami has been dwindling down, due to a condo buying frenzy. Developers have been proposing one new waterfront condo tower project after another, hoping to replenish the market supply and appease luxury real estate buyers.

The latest condo tower project to hit Miami is Marina Palms Club & Residences. Two luxury waterfront condominium towers will include 468 residences, a marina and yacht club, with one million square feet of residential space.

Over the past year many waterfront condos have been purchased by foreigners.


Marina Palms Club & Residences

Marina Palms Club & Residences

2013 Looks Promising for the Luxury Waterfront Real Estate Market

2013 Looks Promising for the Luxury Waterfront Real Estate Market

Many real estate investors think that 2013 is going to be an even better year than 2012.

This past year, luxury homes and condominiums were outselling supply, and it looks like this trend will continue, even with many new luxury developments in the works.

A 5,803 square-foot penthouse at the exclusive Setai South Beach recently sold for $21.5 million. The luxury oceanfront penthouse was originally purchased by Netscape founder Jim Clark for $9 million in 2004.

A beachfront penthouse at the Mansions at Acqualina in Sunny Isles Beach is currently on the market for an astounding $55 million. The 15,000 square-foot duplex unit is the second most expensive luxury listing in Miami. The six-bedroom, eight-bathroom unit was furnished by Fendi Casa and features a theater, private elevator, wine room, billiard room, indoor pool, sky garden, waterfall and glass pool overlooking the ocean.

Source: Palm Beach Daily News


setai, south beach, miami

Setai South Beach