China Enters Florida Real Estate Market South Florida is the Nation’s Epicenter in Real Estate to Foreign Buyers
New York Developers Flock to Miami Searching for the New SoHo

New York Developers Flock to Miami Searching for the New SoHo

It is no longer just international developers purchasing luxury waterfront real estate in Miami. New Yorkers are also asserting their buying power on an array of beachfront and waterfront properties for investment purchases.

Sam Tawfik, a New York developer and investor, purchased 27 waterfront apartments and penthouse units for $12 million off of Biscayne Boulevard. Many are hoping Midtown Miami becomes the new SoHo.

“This is the time to be a New York seller and a Miami buyer,” said developer Sam Tawfik, who owns commercial property in Manhattan and shopping centers in the tri-state area. “The upside is better and competition less intense in Miami. Every hedge fund and international investor wants to buy in New York. Midtown is like a mini-boomtown.”

The majority of the one and two-bedroom condos he purchased are already rented. The rent ranges from $1,700 to $3,000 per month.

“I think to be a mover and shaker in Miami with a New York get it done mentality can be very profitable,” Tawfik said. “This area has a cool demographic. It’s chic and sophisticated but not pretentious. You can feel the energy on the streets like it felt in SoHo or Trebeca 20 years ago. Look at those places now.”

New York developer iStar Residential has two, nearly sold out buildings in Miami. Ocean House, a boutique building located in an exclusive South Beach neighborhood, has only 18 units left. The units range from 4,500 square feet to 7,000 square feet, and the prices are upwards of $7.5 million.

“This is American Riviera,” Tawfik said. “It’s 80 degrees outside. People think this market is all about the foreign buyer. New Yorkers love it here, too.”

Source: New York Daily News


Condo in Miami, Florida

Condo in Miami

New Condominium Towers Coming to the Grove Waterfront

New Condominium Towers Coming to the Grove Waterfront

A new luxury oceanfront condo development will replace the historic Coconut Grove Bank. The bank’s board recently approved the selling of the five-acre property to the Miami-based Terra Group.

The new luxury condo buildings will contain 200 units will be 20 or less stories. The condo towers will be situated between Biscayne Bay and the Ritz-Carlton.

“We felt this is one of the best sites that could be developed in Miami-Dade County,” said Pedro Martin, a Miami lawyer who runs and owns Terra with his son, David.

Miami is seeing its share of new condo developments. The Terra Group also recently made plans to transform the nearby Grand Bay hotel into a luxury high-rise development called the Grove at Grand Bay. Prices will range between $2 million and $6 million.

“We think it will help the entire marketplace,’’ Martin said of the planned project. “We’re very bullish on this area. There’s less traffic [in the Grove]. There’s more residential. It has greenery. We have great views.”

Source: Miami Herald


grove at grand bay, miami

Grove at Grand Bay

Bal Harbour Luxury Condominiums Are Selling Quickly

Bal Harbour Luxury Condominiums Are Selling Quickly

Bal Harbour is one of the most exclusive areas of Miami. Residents have premium access to high-end shopping, fine dining and the beach.

Condo sales at the exclusive St. Regis Bal Harbour have topped $758 million this year. Since launching sales in early 2012, the property has sold more than 200 units, with an average sales price of $1,450 per square foot.


A Few Luxury Oceanfront Condominiums in Bal Harbour:

  1. St. Regis Bal Harbour
  2. Majestic Tower
  3. Bellini
  4. One Bal Harbour
One Bal Harbour

One Bal Harbour

Penthouse at Miami Beach’s Continuum is One of the Most Expensive Sales Recorded in Miami Beach

In the past year, we have seen some of the highest prices ever paid for luxury oceanfront properties in Miami.

A luxury oceanfront penthouse in the exclusive Continuum condominium in Miami Beach recently sold for a staggering $25 million.

According to the Miami Herald, the penthouse set a new record for sale prices in Miami, exceeding the $21.5 million spent for a luxury penthouse at the Setai, also in Miami Beach.

The exquisite 3-story penthouse features 25-foot ceilings, 5 bedrooms, 7 ½ bathrooms, a private pool and magnificent ocean and city views.

The penthouse was last sold in 2009 for $9.9 million. The new buyer plans on spending another $2 million on various renovations.

Source: Miami Herald

Continuum South Beach, Miami

Continuum Miami Beach

Oceanfront Condominiums at Canyon Ranch Living Close to Selling Out

The luxurious Canyon Ranch Living Miami Beach has around 12 units remaining.

This past August, Miami Beach’s Canyon Ranch Living sold eight penthouses within two hours of being on the market, due to a preexisting waiting list. At this time, there are a small number of penthouses, townhouses and 2-bedroom residences available for purchase.

Canyon Ranch Living consists of three beautiful, glass towers. The original tower, Canyon Ranch Living Carillon Hotel, contains the world-renowned spa and wellness center.

Residents in the luxury oceanfront condominiums are spoiled with sprawling ocean views and access to a lavish 60,000-square-foot rooftop spa and fitness center.

The signature spa club located at Canyon Ranch Living offers residents and guests relaxing massages, facials and additional spa treatments tailored to their needs.

Canyon Ranch Living

Canyon Ranch Living

Oceanfront Villa at One Thousand Ocean Sells for $4 Million

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.

New Luxury Condominium Projects Under Construction in Miami

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.

More Waterfront Developments Planned for South Florida

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.

Finding the Right Estate Manager for Your Luxury Waterfront Home

Finding the Right Estate Manager for Your Luxury Waterfront Home

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



Niki Higgins Sells Palm Beach Estate Home

Niki Higgins Sells Palm Beach Estate Home

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