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

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

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

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