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South Beach Luxury Condo Blog

Stay updated on South Beach Condo Developments and Market Information.

By Michael DeFilippi | Agent in 33139
  • Ocean House South Beach Luxury Condos Grand Opening Party; 125 Ocean Drive

    Posted Under: General Area in Miami Beach, Home Buying in Miami Beach, Home Selling in Miami Beach  |  May 3, 2012 5:30 AM  |  1,521 views  |  No comments


    The newest development in South Beach held an extremely successful house warming celebration last night. The invite only gathering offered some of Miami Beach's most influencial residents an opportunity to explore the property. As guests enjoyed cocktails by the infinity pool, relaxed by the fire pit or lounged in the impressive library the property received an extremely positive reaction. The pool deck was developed beautifully and will be a key component to the private lifestyle of residents. There were a couple models available and the decor was quite impressive. In my opinion it has some influences of the Setai. 

     
    Ocean House was formerly the Walburne Hotel and the front facade maintained most of that MiMo (Miami Modern) influence. There are only 28 residences making this an extremely private building. The tower residences have huge floor plans and flow-through from East to West. All tower residence units have direct oceanfront views. The location is across the street from Prime 112 and feet from Nikki Beach and The Continuum.

    There has been a lot of interest in recent months and several of the units are sold or under contract. It will not be long before the remaining inventory is sold out. Now is a prime opportunity to be an original owner in South Beach's newest luxury development.

  • Block 51 (Across from Apogee) Update; Multi-use Development Planned

    Posted Under: General Area in Miami Beach, Home Buying in Miami Beach, In My Neighborhood in Miami Beach  |  May 1, 2012 7:38 PM  |  1,333 views  |  No comments



    Today representatives involved in the Block 51 project went before the Miami Beach Design Review Board to get an approval for previously approved plans. The previous plans for Block 51 were approved in 2006. To the surprise of the board, the modified project is signicantly different than the originally approved project. Several board and staff members referred to the original plan as being more dynamic.

    The architect (Sieger Suarez) of the project had a model of the project as well as all types of renderings. The project calls for 32 residential units averaging 1800 square feet per unit. There are only 2 units on the north side that will be significantly smaller. The price per square foot will be between $800-1000. Each unit comes with 1 self parking space. It appears a valet space will be included as well but valet is available for guests and those frequenting the retail space. The retail space will be 6836 s.f and it hasn't been determined how many tenants there will be. There also will be 2 restaraunts. 

    A huge influence in this development is the design of the Apogee. The luxurious Apogee has gray granite pavers compared to the required red sidewalks required in Miami Beach. Block 51 will be extending that look with the same pavers to expand on the urban continuity. The project calls for green roof tops. The pool will sit on the roof of the parking garage. The fitness center as well as the spa will be on the ground level near the corner of Alton/South Pointe Dr. to encourage usage and to create pedestrian traffic. 

    The retail space is on the first floor and a large portion will be in the southwest corner with 3 sided windows. The board made is very clear that the retail space has to be utilized. Nobody wants another waste of retail space like Continuum. Continuum's use of retail space has been absolutely horrible. The presenters made it very clear that it's a huge priority to fill the retail space and without providing details they are in discussions with someone that may purchase the retail space.

    There is a public alley that goes through the property. It's 7 feet in width but is being doubled in size to 15 feet. This will be one of the highlights of the property with LED lighting on the walls and stainless steel medevil looking elements. The plaza around the alley will have a very urbanistic feel.

    In conclusion, the board was unable to vote on the project. They want the project to have a grander feel. They will be back in front of the board at the next meeting in June. So there is some tweeking but it seems very minor. This is a huge project and one of the last valuable parcels of undeveloped property in the South of 5th neighborhood. I want the project to move along as quickly as possible but I can appreciate the board being extremely detailed oriented.

    I feel this project could have a huge impact on the community if the retail space is utilized wisely. The retail space combined with the gorgeous public alley offer a unique space. I will keep everyone updated on the project.

  • The Bentley Bay Condo; 2BR sells for 500/SQ/FT; Highest Level Since 2008

    Posted Under: Market Conditions in Miami Beach, Home Buying in Miami Beach, Home Selling in Miami Beach  |  April 30, 2012 8:06 PM  |  1,216 views  |  No comments

    #1611 Bentley Bay NorthSome great news to report from The Bentley Bay  today. Unit 1611 (540 West Ave) in the North tower sold for $626,000 or $500/s.f. The limited inventory is forcing buyer's to purchase at higher levels. Not to discredit this unit (it's gorgeous) but this is a great sign for sellers. The last 2 bedroom to sell was #1211 for $565,000 or $451.28/s.f. The trend in higher prices per square foot has been fairly consistent with few outliers.

    There are only 5 total units available for sale in the north tower and the lowest priced 2br starts at $538.75/s.f.

    In the south tower there are also just 5 units available. The lowest priced 2br starts at a staggering $709.92/s.f.

    In conclusion, this is a good sign for sellers in this building and their neighbors. I'm extremely curious to know what the next unit will sell for in The Bentley Bay. If you're interested in selling your condo now is a pretty good time. Realtors, if you have clients in The Bentley Bay provide them with this information and encourage them to sell.

  • "Block 51" 7 Story Mixed-Use Development planned for South of 5th (Across from Apogee)

    Posted Under: General Area in Miami Beach, Home Buying in Miami Beach, In My Neighborhood in Miami Beach  |  April 30, 2012 3:50 PM  |  1,098 views  |  3 comments
    The Planned Block 51 in South Beach
    Previously approved by the City of Miami Beach planning board in 2006 with conditions set for the final order, "Block 51" in Miami Beach is back on track. The applicant was able to obtain state approved deadline restaurant. The development calls for a new 7-story mixed-use project. The lot (801-863 South Architectural Drive & 818-842) is on the southeast corner of the block and directly across from the Apogee which also fronts Alton Rd. and Washington Ave. The project calls for 32 Residential units, a 700 or so seat restaurant, 6836 S.F. of retail and a valet parking structure. The maximum height will be 75 feet with residential units starting on the 4th and rising to the 8th floor with active use planned for the tower roof decks. On the ground level there will be commercial usage.


    Before the building permit is issued the development must comply with city code, accessibility compliance, concurrency determination and meet the design review criteria. The Sieger Suarez Architechtural Partnership goes before the board on 5/1/2012. I will be attending this meeting and will have an update as soon as possible.

    With the improvements on the South of 5th infrastructure this is a welcomed project. The timing is perfect and this development with clean up and eyesore of a lot. The location of these units will greatly benefit from being across the street from the Apogee. The Apogee has the highest level of security and is maintained to perfection.



  • 500/630 Alton Road development (SoBePark) Update; 3 Architects present designs to Crescent Heights

    Posted Under: Home Buying in Miami Beach, Remodel & Renovate in Miami Beach, Design & Decor in Miami Beach  |  April 29, 2012 1:56 PM  |  1,426 views  |  No comments

    630 Alton Road; Miami Beach, FL 33139
    The picture above is the current state of 630 Alton Road. Formerly home to the South Beach Community Hospital, this site has been an eyesore in a very important part of South Beach for several years. This should be a landmark development to visit as it's in a crucial location on the beach. The property is owned by Crescent Heights. They also own 500 Alton Road, which formerly had plans to be developed into luxury lofts called Vitri but that was canceled due to the economic crash. Below you can see 500 Alton Road.

    500 Alton Road seen in the distance
    In October of 2011 Crescent Heights received approval from the City of Miami Beach to move forward with plans for a mixed-use development called "SoBePark". SoBePark may feature 450,000 square feet of luxury retail place as well as 200,000 for luxury residences. There also is plans for a public park. On Thursday, 3 architects presented their ideas to the public and Crescent Heights at the Shelbourne Hotel. The 3 companies, Gensler, ADD Inc., and Skidmore, Owings & Merrill. All of their plans located the residences at the Southern portion of the property. ADD Inc. highlighted their desire to relocate the MacArthur Causeway off-ramp onto Alton Road. That might be interesting because the current design is very unattractive and restricts pedestrian travel.

    In conclusion, Crescent Heights has not offered any opinion on the designs. Over the next few days I will try my best to obtain drafts of each architects work so I have a clearer understanding of what they plan to do. It's an extremely exciting development that will really contribute a substancial amount of luxury value into the surrounding area. This would be excellent news for buildings South of 5th as well The Floridian, The Bentley Bay and other residential developments in South Beach.
  • The Floridian South Beach Luxury Condos; 650 West Avenue

    Posted Under: Home Buying in Miami Beach, Home Selling in Miami Beach, Moving in Miami Beach  |  April 26, 2012 10:00 AM  |  1,143 views  |  No comments
        

         The Floridian South Beach can not be missed when you enter South Beach from the MacArthur Causeway. It's a crown jewel in South Beach and one of the best quality high rises in Miami Beach. One thing that separates The Floridian from other buildings is the superb attention to detail in regards to cleanliness and maintenance. Built in 1997, it's not quite to the level of it's neighbor The Icon South Beach but for a building that's 15 years old you won't notice the age. The amenities are top notch and actually better than most the buildings South of 5th.



    - 2 Pools (1 Bay Level, 6th floor pool with jacuzzi with towel and water service)
    - Spacious gym with plenty of Convenience machines, free weights, weight machines)
    - Tennis Court (lights for night; hard surface with wind nets to reduce wind, in excellent condition)
    - Spa with steam and sauna rooms that always work. (There are talks of renovations)
    - Spinning Room (Indoor Group Cycling)
    - Full Salon with spa services (manicure/pedicure/etc)
    - Convenience Store
    - Executive Center with a computer and fax/scan/printer machine for resident usage.
    - Conference Room
    - Media Room with a plasma television/blu ray player and all the movie channels
    - WiFi in all the common areas
    - Grilling Area
    - Pool table
    - Dry Cleaning pick up/delivery
    - Bay Walk which is being completed and will connect to Lincoln Road. All part of the master plan bike path.
    - Boat Slips Available for purchase starting at $149,000.
    - Valet Parking
    - 24/7 Security and front desk staff


    The actual units vary from 1 to 3 bedrooms with a bay or ocean/city view while corner units have both. They have clear glass balconies which make extending your home onto the balcony that much more inviting.

    There are currently 14 units available for sale.

    1 Bedrooms:

    • 505   $321,000 Direct Bay  (REO/foreclosure

    • 405   $395,000 Direct Bay  (Regular Sale)
    • 1105  $399,000 Direct Bay (Reduced 4/9, Tenant)

    2 Bedrooms:

    • 810    $409,000 Ocean/City (Tenant until 04/2013)
    • 2710  $459,000 Ocean/City (Tenant Occupied)
    • 2609  $595,000 Direct Bay (Wood Floors; Tenant)
    • 2109  $649,000 Direct Bay (Completely Upgraded; 2 Parking Spaces)

    • 1401  $675,000
    • 2502  $699,000 Direct Bay/Ocean (Marble Floors, Upgraded,Corner Unit)
    • 2701  $729,000 Direct Bay/Ocean (Upgraded, Furnished, Corner Unit)
    • PH8   $825,000 Direct Bay/Ocean (Penthouse, 2 Parking Spaces)

    3 Bedrooms:

    • 908   $540,000 (Purchased for $430,000 02/2012 and renovated)
    • 1908 $574,000 (REO/ Unique 3 Balconies/Most have only 1)
    • 1708 $609,900 (3 Balconies, Tenant at $2700 until December)

    Most of the units listed are overpriced in the Floridian but there are a few that are reasonable. The best value is 505. 2109 is a very unit as well especially if you can get that at the right price point. For the Floridian it's either a matter of being patient and waiting or finding a really motivated seller.

    In conclusion, The Floridian is one of my top buildings in South Beach. The association is financially strong and the building is well maintained. I highest suggest consider The Floridian South Beach for your next purchase.








  • Livin’ La Vida Loca! Ricky Martin sells Miami Beach mansion for $10.6M

    Posted Under: Entertainment & Nightlife in Miami Beach, Home Selling in Miami Beach, Celebrity Homes in Miami Beach  |  April 23, 2012 5:50 AM  |  1,291 views  |  1 comment

    Legendary performer Ricky Martin has sold his North Bay Road mansion. The nearly 10,000 sq ft property's final sale price was $10.6M. It was originally listed in 2008 at $19.5M and most recently listed for $12.5M. Back in December artists Jay-Z and Beyonce were having serious thoughts about the home. The buyer's information has yet to be released. Ricky purchased the home for $10M back in 2005. He also sold his Golden Beach property for $6.3M this past fall. Martin spends most of his time in New York starring in "Evita" on broadway. Although Ricky is here less than previously he is highly respected in Miami and considers it home (along with Puerto Rico). Below are some photographs of the property.
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