Sales also rose 1.6 percent in October, even though inventory remained low. Sellers fetched closer to their asking price, and homes were on the market for fewer days, due to high demand and limited supply.

For more information on luxury real estate in South Florida, contact Seaside Properties Group at Douglas Elliman at 1-888-242-4422.

Source: Miami Herald

Single-family home sales in Miami rose 15.1% in August, from 1,051 sales a year prior to 1,210 transactions this year. Miami condo sales increased 7.9% to 1,592 sales this August from 1,476 sales in August of 2012.

While inventory is slightly increasing, sales are continuing to break records. Numerous new condo developments in Miami are in various stages of planning to help meet the robust demand.

Miami

Located at 800 S. Ocean Boulevard in Manalapan, the impressive estate has 18,000 square feet of living space and 203 feet of direct ocean frontage. The home also features 8 bedrooms, 11 bathrooms, a VIP suite, an underground garage, 2 pools and a tennis court.

For more information on South Florida real estate, contact Seaside Properties Group at Douglas Elliman at 1-888-242-4422.

Source: South Florida Business Journal

South Florida Real Estate

In Miami, single-family home sales ascended 27.3 percent in July. There were 1227 home sales in July of this year, compared to 964 in July of 2012. Miami condo sales increased 13.4 percent over the same time period, from 1356 condo sales in July of 2012 to 1568 sales this July.

While there was a slight increase in housing inventory, the current supply is still insufficient to meet the heavy demand. A surge in new condo developments in Miami is aiming to help alleviate this problem.

Grove at Grand Bay, New Construction in Miami

The influx of new condos comes as the inventory from the last condominium boom shrinks. Some notable new developments include:

• Jade Signature in Sunny Isles Beach
• Regalia in Sunny Isles Beach
• Chateau Beach Residences in Sunny Isles Beach
• Oceana Bal Harbour
• One Ocean Miami

A full list of new luxury construction in South Florida can be found here. For additional information on any of these new buildings, contact Niki Higgins at 1-888-242-4422.

Jade Signature in Sunny Isles Beach

Castello del Sol includes 8 bedrooms, 9 1/2 bathrooms, a library, a theater, a double kitchen, a rooftop lounge, hand-painted ceilings and gold accents. The luxury waterfront home also features a one-bedroom guest house, a 2-bedroom staff condo and an on-property guard house. The lavish estate sits on 349 feet of water frontage.

The sale of Castello del Sol is the most expensive ever recorded on La Gorce Island, and it is tied for the 3rd most expensive sale ever recorded in Miami-Dade County.

Source: South Florida Business Journal

Castello del Sol, Waterfront Estate in Miami Beach

Located on exclusive Billionaire’s Row, the lakefront estate was completed in 2011. It has never been lived in and features 200 feet of waterfront. The home and guesthouse include 27,000 square feet of living space, including a 4,000-square-foot master suite and 8 additional bedrooms.

The $42 million price tag is the second highest price recorded for a lakefront home in Palm Beach. The highest price ever recorded for the sale of a luxury residence on the Intracoastal Waterway was $50 million in 2006.

Source: Palm Beach Daily News

1220 S Ocean Blvd, Waterfront Mansion in Palm Beach

LeBron James owns in a 12,000-square-foot, Coconut Grove home he purchased for 9 million dollars. The waterfront estate features 6 bedrooms and 8.5 bathrooms. Teammate Chris Bosh purchased a 12.5 million dollar home on North Bay Road in Miami Beach. Dwyane Wade also lives on exclusive North Bay Road. His waterfront home contains 13,000 square feet of living space.

Heat President Pat Riley owns a penthouse in the Apogee, an exclusive condominium building in Miami Beach’s South of Fifth neighborhood. The penthouse residence was purchased for 11.75 million dollars.

Source: South Florida Business Journal

LeBron James’ Home in Coconut Grove

The luxury development consists of two 20-story glass towers that twist to showcase the most inspiring views. Designed by Danish architect Bjarke Ingels, the Grove at Grand Bay has 98 units, with prices for a 3-bedroom residence starting at 3 million dollars. The exclusive waterfront condos will feature floor-to-ceiling glass and large balconies.

Currently, the 59-unit North Tower is nearly sold out. Sales in the South Tower began a few month ago. The project has a projected 2014 completion date.

Source: The Miami Herald

Grove at Grand Bay, Waterfront Condos in Miami

The luxury housing market was less affected by the market crash. Wealthy sellers are able to hold on to their property through rough financial times. Therefore, the luxury end was the first to rebound, and home prices have now passed their prior highs.

Alex Rodriguez recently sold his Miami Beach home for 30 million dollars, a new record in Miami Beach. A Fort Lauderdale waterfront home recently sold for 14.5 million dollars, a near record in Broward County. Luxury waterfront condo prices are also following this trend. Two penthouse units in the Miami Beach Edition were sold to one buyer for 34 million dollars.

Source: The Miami Herald

Miami Beach Edition

“The Sky” penthouse features 4,628 square feet of indoor living space and 2 terraces. The oceanfront condo also includes a private elevator, 14-foot ceilings, a cabana and a private, 3-car garage.

Currently, only three residences remain in the 53-unit development, including one designer-ready penthouse listed for 12.95 million dollars.

One Thousand Ocean is located next to Boca Raton’s Boca Beach Club. The beachfront condos are situated at the end of private peninsula at the Boca Raton Inlet.

Source: Sun Sentinel

One Thousand Ocean, Luxury Oceanfront Condos in Boca Raton

Wealthy buyers are currently leaning toward pre-construction penthouses in Miami that are designed with them in mind. In Ian Schrager’s Miami Beach Edition, two penthouse units were combined and sold to a single buyer for 34 million dollars. A penthouse at the Faena House is currently on the market for 50 million dollars. Over the past year, the price of these exclusive residences has climbed to over 3,000 dollars per square foot, as developers react to the influx of cash heavy foreign buyers.

However, some audaciously priced residences have lingered on the market for long periods of time. For example, the former Versace mansion – Casa Casuarina – has seen multiple substantial price drops since it’s been on the real estate market. The property was first listed at 125 million dollars, but due to financial problems and a lack of privacy, the mansion is now priced at 75 million dollars.

Source: The New York Times

Miami Beach Edition

Real estate in Miami is currently flourishing at record levels. Luxury real estate prices rose by 19.5 percent last year, which is the highest in North America and the fourth highest in the world, only trailing Dubai, Bali and Jakarta. The luxury market (top 5 percent) now averages between 1300 dollars per square foot to 1440 dollars per square foot. Prices are predicted to grow even more this year, as buyers continue to enter the market and supply drops.

While domestic buyers are showing interest in the ultra-luxury properties, foreign buyers continue to make up 60 percent of Miami’s total real estate market. To drive sales and prices, developers are also associating their high-end projects with world-renowned architects. A well-known name, like Zaha Hadid at One Thousand Museum and Herzog and de Meuron at Jade Signature, can add 20 percent to the total price tag. To go along with innovative design, units are also getting bigger, as developers focus on maximum pricing instead of maximum capacity.

With a multitude of new projects in development and prices topping 3000 dollars per square foot at some of the newest buildings, questions have been raised about the market’s stability. However, due to scarcer bank financing, the majority of condo buyers are purchasing in cash with deposits of 50 to 70 percent. These new terms are leading to a stronger, less volatile real estate market.

Source: Financial Times

Jade Signature Sunny Isles Beach

Designed by architect Rene Gonzalez, the luxury oceanfront condos will feature full-floor layouts and 360-degree views of the ocean, Miami Beach, the bay and the city skyline. He hopes to emphasize the natural beach surroundings through the design of Glass.

“What was important to us was that the building dematerializes as it goes up, so it becomes lighter, then it starts to almost disappear into the sky,” Gonzalez said. “The building becomes almost a barometer of the environment.”

Developers plan to break ground in August. The condos in Glass will range in price from 8-9 million dollars, with a 35 million-dollar penthouse. Five of the 10 units are already reserved.

Source: The Miami Herald

Glass, Luxury Oceanfront Condos in Miami Beach

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

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

“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

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

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, Luxury Condos in Sunny Isles

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, Luxury Condos in Miami

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

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’s Recently Renovated Spa

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 20^th 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

The beach villa features three bedrooms, four bathrooms, large terraces, an elevator, a pool and a two-car garage. It sold for $5.15 million and was the last remaining beachfront villa at One Thousand Ocean.

The customizable penthouse closed for $5.86 million. The luxury condo residence includes 1,450 square feet of terrace, 14-foot ceilings, a cabana and a private elevator lobby.

The luxurious and modern One Thousand Ocean is comprised of 52 residences and is located on a private peninsula, with views of the Boca Raton Inlet, Intracoastal and Atlantic Ocean. It is adjacent to the Boca Raton Resort and Beach Club. Just a few units remain in the building in what is anticipated to be the final selling season.

Source: The Real Deal

One Thousand Ocean

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

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 Condo Tower in Miami

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

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 Located in Biscayne Bay

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

Beachwalk-planned

Positano Phase II-pre-construction

“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 Residences Miami 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 at Chateau Beach Residences

“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

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 40^th 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 South Beach

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

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

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

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

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

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 Miami Beach

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

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.

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.

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.

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

Golden Beach

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

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

12210 Banyan Road

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

Luxuria

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 Luxury Residences

Canyon Ranch Living

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

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

This week, the Continuum, a luxury condo building in Miami Beach’s South of Fifth neighborhood, is making headlines with a $16.25 million oceanfront condo that sold to a foreign buyer. The beautiful three-bedroom, three-bathroom property sold within a month. The listing price was $19.5 million.

This is an exciting time for the high end real estate market.

Source: The Real Deal

Continuum located on South Beach

Gay Hart Gaines, one of the owners of the luxury beachfront home, is a longtime Republican Party fundraiser who also served many years as the national chairman of GOPAC. Stanley N. Gaines is a retired chief executive of an automotive company.

According to the warranty deed, this was a private sale to Endigan LLC, an Arizona-based limited liability company.

The property consists of about 2 acres, with more than 160 feet of ocean frontage and a private road that was purchased in 2003. The property was originally purchased for $6.5 million in 1998.

Source: Palm Beach Daily News

1473 N. Ocean Blvd., Palm Beach

This is great news for sellers. Condos in the area rose 35 percent this year. The Bal Harbour shops, fine dining and nearby South Beach attract new buyers. The new St. Regis Bal Harbour Resort has also played a part in the increase. The St. Regis Bal Harbour Resort development opened this past January and has already achieved $630 million in sales.

Other luxury oceanfront condo developments are also doing well in the area. Property Markets Group is developing the 95 on the Oceana condominium complex.

Ryan Shear, managing director at development firm Property Markets Group says the increase in sales and property value has come from a couple of things taking place in Bal Harbour.

“One is the lack of supply — obviously there’s only so much oceanfront in South Florida,” he said. “And the other factor has been the South American buyers — these aren’t New Yorkers or Americans — in all these buildings.”

Source: The Real Deal

“Pending and closed sales are moving in an upward direction in Palm Beach County, which is very reassuring,” said Bonnie Lazar, President of the Realtors Association. “In addition, February’s median sales price, based on all properties, is up from the previous month and the inventory of homes for sale is down.  This clearly illustrates that Palm Beach County is experiencing a mini-recovery and better times are ahead.”

As sales increase throughout Palm Beach County, the inventory of luxury oceanfront condos is also decreasing. This is one of the best times in recent history to buy a luxury waterfront condo or estate, due to historically low interest rates. If you have been considering selling or buying property, now is a great time to move forward.

Source: Boca News Now

According to the Miami Herald, six luxury condo towers are being developed in Sunny Isles, equating to 530 luxury oceanfront units along Collins Avenue. Developers have purchased four additional luxury sites for condos in Sunny Isles Beach.

In order to avoid real estate demise of 2007, lenders are mostly unwilling to finance developers for new condominum construction projects. Developers are now forced to use their own money, as well as payments from contracted buyers for these projects. In many cases, developers are requiring around 80 percent of the purchase price to be paid in increments over time based on construction milestones.

Sunny Isles Beach was created 15-years ago to accommodate international buyers’ demand for luxury oceanfront condos. The picturesque beach town attracts approximately a million visitors every year.

Source: The Miami Herald

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

Ruby Rinker’s Estate Home on Billionaire’s Row in Palm Beach

Palm Beach resident Ruby S. Rinker has sold her oceanfront estate home in a private deal for a whopping $23.5 million.  The deed was recorded by the Palm Beach County Clerk’s office.  According to property records, it is the largest single residential sale in Palm Beach in the last year.

The seven-bedroom home is situated on a 2.66 acre estate on the stretch of Palm Beach’s South Ocean Boulevard known as “Billionaire’s Row.”

Built in 1971, the house and a two-bedroom outbuilding have nearly 12,230 square feet of living space, according to Palm Beach property records. The property features a swimming pool and tennis court.

Rinker bought the house for $7.45 million in 1999.

Full Story: Palm Beach Daily News

If interested in more information and future updates, please call or visit our website: www.SeasidePropertiesGroup.com

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

The Mansions at Acqualina (right) is One of Many New Ultra High-End Condos Being Built in the Booming South Florida Luxury Real Estate Market

In South Florida, the luxury real estate market is booming. While Wall Street turmoil kept many potential buyers on the sidelines for years, they’ve reentered the market with  renewed confidence.

Ultra-exclusive properties are in strong demand.

Most buyers are out-of-towners looking for a second, third or fourth home.  Nearly all pay cash — regardless of the price.

In Miami-Dade, the hot spots are well known: South Beach, Gables Estates, Star Island and Key Biscayne. Affluent New York deal-seekers are confidently purchasing these luxury waterfront properties.

Full Story:  The Miami Herald

If interested in more information and future updates, please call or visit our website: www.SeasidePropertiesGroup.com

Source: Anna Kournikova Sells in Miami

Many Chinese buyers are looking for investments that are $500,000–which is the minimum buying purchase for a buyer to be eligible for the much sought after EB5 visa. This would entitle the buyer to 3-year U.S. residency, and many developers have used this incentive to their advantage. Obtaining a U.S. visa has become a substantial reason for affluent Chinese buyers to purchase property in the United States.

Source: China Targets South Florida Residential Market

According to the Miami Association of Realtors, foreign buyers account for more than 65% of all condo and home sales.

A bipartisan proposal has been introduced in the U.S. Senate that would give three-year visas to foreigners who invest in at least $500,000 in residential real estate. Successful passing of this proposal would lead to a dramatic increase in South Florida real estate business.

Source: Miami Real Estate Market Embraces Brazilians

“The monthly median prices have ticked down slightly for the past few months, but the overall trend continues to show gains year-over-year.”

Tucillo believes the recent numbers show a very strong interest in purchasing Florida real estate from smart investors who are taking advantage of the favorable market conditions.

“The latest unemployment figures indicate that Florida’s jobs outlook is improving, mortgage rates remain at historical lows and buyers are able to consider a variety of housing options at affordable prices in communities across the state.” said 2011 Florida Realtors President Patricia Fitzgerald, manager/broker-associate with Illustrated Properties in Hobe Sound and Mariner Sands Country Club in Stuart. “This is a great time to consult a local Realtor about home ownership opportunities in your local housing market.”

Source: Florida Existing Home And Condo Sales Still Increasing

The Mediterranean-style waterfront mansion is the definition of luxury, with 18,886 square feet of space and seven bedrooms. The house was owned by RGF Holding Corp., which was incorporated in Delaware and based in Delray Beach.

The house has a deep water yacht slip, exquisite landscaping, loggias off the living room and family room, two master suites and a swimming pool set into the sprawling oceanfront lawn. The separate, two-bedroom guest house has two bedrooms for staff accommodations.

Reference: Palm Beach Mansion Sells For $15 Million