Miami Beach to Palm Beach Luxury Real Estate » Miami to Palm Beach Luxury Real Estate Blog

New Luxury Waterfront Condominium Buildings in Miami Beach are Selling Fast

Andrea — Fri, 15 Mar 2013 21:05:46 +0000

Many luxury beachfront condominiums in Miami have been selling before construction begins. Peloro, a new waterfront condo project set for construction in Miami Beach, has had great success selling units prior to construction. Sales started about three months ago, and seventy five percent of the proposed 115 units are already reserved.

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

Historic Waterfront Home in Miami Beach is approved for Demolition

Andrea — Wed, 13 Mar 2013 20:48:44 +0000

The Real Housewives of Miami star Lisa and her husband Dr. Leonard Hochstein recently received approval to tear down their Star Island home. They bought the 8,117-square-foot home for $7.6 million. The Hochsteins believe there are many issues with the house, such as cracks in the outside walls. According to them, the historic waterfront mansion cannot be salvaged.

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

South Florida’s Luxury Real Estate Is Again in High Demand

Andrea — Mon, 21 May 2012 15:07:31 +0000

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

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