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

Miami Penthouse Market is Thriving

Demand for South Beach penthouses is growing larger than the supply, due largely to foreign interest in South Florida’s real estate market.

Many foreign buyers are primarily interested in purchasing a penthouse with sprawling ocean views. However, there is not an unlimited supply of such properties.

In May, a triplex penthouse at South Beach’s Continuum sold for $25 million, setting a Miami record. Another penthouse in Miami was sold for $20 million.

Over this past year, a number of Argentinian developments have occurred in Miami. Argentinian developer Eduardo Constantini broke ground  on a 142-unit condominium project in February. In March, Argentine Manuel Grosskopf paid $50 million for three parcels in Surfside, and Jose Luis Melo has five pending projects, totaling 800 units in downtown Miami.

Source: The Real Deal

Miami Heat Forward Sends Pompano Beach Estate to Auction

While Miami Heat forward Mike Miller may be preparing for the NBA Playoffs on the court, he is preparing his Pompano Beach estate for auction off the basketball court.

His 9,000 square foot, waterfront estate in Pompano Beach will be sold to the highest bidder on June 30th.  This is the second time the estate has gone to auction.  In 2011, it sold for $5.4 million.

The home features six bedrooms, eight baths and two half baths.  Miller is currently ranked No. 15 on the Business Journal’s list of highest paid athletes.

Full Story: South Florida Business Journal

Anna Kournikova's Sunset Island Home Sells For $7.4 Million

Anna Kournikova’s Sunset Island Home Sells For $7.4 Million

Tennis star and celebrity Anna Kournikova recently sold her Mediterranean-style home for $7.4 million on Miami Beach’s uber-exclusive Sunset Island.  The 6,630 sq. ft. property is located on 150 feet of the Intracoastal Waterway. The property includes a two-story guesthouse, entertaining area and a large dock.