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

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