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Miami real estate blog for condos

Iinformation on Miami Beach condos, Sunny Isles real estate & Aventura

By Lana Bell | Agent in Sunny Isles Beach, FL
  • Housing Styles in Sunny Isles

    Posted Under: General Area in Sunny Isles Beach, Home Buying in Sunny Isles Beach, Investment Properties in Sunny Isles Beach  |  September 15, 2014 11:48 AM  |  10 views  |  No comments

    Sunny Isles Beach Miami Florida is one of the most popular places in the country for those who are looking for high quality properties. The sales in the area are quite brisk and the homes are never far from the beaches, and it is just a short drive to Miami and Fort Lauderdale airports. The location, the weather, and the abundance of great properties combine to make the area one of the most sought after locations. Of course, those who are thinking about moving to the area, or buying a vacation home or investment property in Sunny Isles would probably like to know what types of housing styles are available.

    Home Styles for Every Need

    One of the things that most people notice is the Sunny Isles Beach skyline and the sheer number of high-rise condominium towers located right on the sand of the Atlantic ocean. It’s certainly true that the towers are some of the most prominent forms of housing in the area, however, there are also private single family homes in Sunny Isles Beach as well.

    As for the styles of those single-family properties, they vary widely, even in the relatively small area of Sunny Isles called Golden Shores . Many of these residences are along the waterfront, or at least very close to it, given the layout of the island. Some of the homes are relatively simple single story affairs, while others are large, grand estates with gated entrances that look as though they would fit right in among homes in Bel Air or Beverly Hills.

    While it is possible to find single-family homes in the area for different budgets, the predominant housing style is certainly the condominium. Many wonderful options are always available along the likes of Collins Ave. and Atlantic Blvd. What is it that makes them so popular?

    To find out, READ MORE at the SUNNY ISLES MIAMI REAL ESTATE BLOG.

  • Armani Working on Building in Sunny Beach Isles

    Posted Under: General Area in Sunny Isles Beach, Market Conditions in Sunny Isles Beach, Investment Properties in Sunny Isles Beach  |  September 15, 2014 11:07 AM  |  12 views  |  No comments

    A number of collaborations between developers and other individuals and groups have been happening in the North Miami Beach area. One of the recent announcements put the Italian company Fendi into the real estate game, but they are certainly not the only ones to enter the field. Armani recently announced that they would be collaborating with Dezer Development and the Related Group on a project in the popular area of Sunny Isles Beach. They announced this collaboration in early July, and it already has people quite excited about what they could see from the group’s collaboration.

    What Is Armani?

    Armani is a fashion house based in Italy and started in 1975 by designer Giorgio Armani. They design, manufacture, and sell a number of high quality luxury products including shoes, watches, cosmetics, leather goods, eyewear, and much more. They have been working in various capacities in property for a number of years now. They have worked in collaboration with a company called Emaar Properties, who have a chain of luxury resorts and hotels. They have properties in places around the world, such as Milan, Paris, New York, London, Los Angeles, Shanghai, and Dubai.

    What Is the Project?

    They are working on a condominium tower called Residences by Armani/Casa in Sunny Isles. The tower on Collins Avenue, designed by Cesar Pelli, will have 60 stories and 260 units. The high-end units promise to hold quite a bit in terms of features and options for buyers, all in that distinctive and luxurious Armani style.

    Giorgio Armani, the company’s founder, is very excited by the project and released a statement where he said in part, “Armani/Casa was born from my desire to see my design aesthetic at work in interior spaces. On a project like this where we have the benefit of partnering with a talented architect like Cesar Pelli, we get the opportunity to create something really very special – a remarkable living space, imbued with the spirit of modern elegance.”

    To learn more about this project, READ MORE at the SUNNY ISLES MIAMI REAL ESTATE BLOG.

  • Sunny Isles Beach Will Pay $250,000 for Solis Building Demolition

    Posted Under: General Area in Sunny Isles Beach, In My Neighborhood in Sunny Isles Beach, Investment Properties in Sunny Isles Beach  |  June 17, 2014 11:25 AM  |  161 views  |  No comments

    If Edgardo DeFortuna and Manuel Grosskopf can get a demolition permit for the hulking, half-built structure on their newly acquired Solis site, the city of Sunny Isles Beach has agreed to give them a pretty serious perk. If DeFortuna and Grosskopf demolish the Solis building, they’ll receive a $250,000 credit, which will go to the cost of the Transfer of Development Rights on the property.

    Last year, DeFortuna’s Fortune International purchased the property (through their subsidiary, Sunny Isles Property Venture, LLC) for just under $41 million. Beachfront property in Sunny Isles Beach is prime real estate, as you can tell by a price tag of over $40 million per acre.

    Ocean Palms Constrcution

    DeFortuna and Grosskopf (of Chateau Group) have joined forces on this Sunny Isles beachfront venture, adding a neighboring Ocean Palms site, for an additional $40 million. The developers obviously see great value in the area, along with very serious growth potential, or they would not be pouring millions of dollars into developing in the area.

    Residents of Sunny Isles Beach should be able to breathe a sigh of relief, as Fortune International and Chateau Group join together to demolish a long-time eyesore. Construction on the Solis building began back in 2007. It was intended to be a 53-story residential building. However, when the housing market collapsed in 2008, construction was halted with the building’s skeleton standing at only 10 stories.

    The Solis Site

    For the past six years, the Solis site has been a point of contention. Developer Gil Dezer applied for extensions to his group’s building permit and hoped to begin construction again – after over half-a-decade – by the end of the fiscal year in 2013. However, that plan fell through, and DeFortuna was the lucky winner to purchase the property.

    If DeFortuna and Grosskopf can keep their momentum going, getting a demolition permit by May 1st, they’ll begin demolition by the first of June. This progress has to come as a serious relief to the residents of Sunny Isles Beach. After all, the desolate skeleton of the Solis building isn’t just an eyesore; it is a reminder of economic instability.

    It was only six years ago that the housing market collapsed. Economic instability and low confidence in the market created a lot of unemployment, lost savings, and general unease. As long as that building stands, the residents of Sunny Isles will have a property-devaluing eyesore that reminds them that even real estate is not a guaranteed investment.

    The sooner the Solis building can be demolished and replaced by successful constructions, the better off Sunny Isles Beach will be. That’s why the city is willing to credit these developers with a quarter of a million dollars to get the job on its way and over with.

    With incentive like this, DeFortuna and Grosskopf would have to be fools to remain stagnant on this project, and these men are definitely not fools. They’ve made wise and timely choices in their real estate ventures, and this; so far, $81 million project should be no exception.

    For more information on Miami real estate, READ MORE at the Sunny Isles Miami Real Estate Blog.

  • Russian Oligarch Brings Money to Miami Real Estate

    Posted Under: General Area in Edgewater, Home Buying in Edgewater, Investment Properties in Edgewater  |  June 16, 2014 1:24 PM  |  111 views  |  No comments

    One of the indicators of a strong housing market in Miami is evidenced by the return of condo flippers and developers to Miami's Greater Downtown area. Prominent among these investors flocking back to southern Florida is Russian Billionaire Oleg Baybakov, who made his billions in the mining industry. His new real estate investment company, 700 Edgewater Development, recently paid $21.5 million for a 37,462 sq. ft. property in the Edgewater neighborhood.

    What’s Going On In Edgewater?

    Located between Downtown and the Upper East Side of Miami, Edgewater is a burgeoning neighborhood, replete with historic 20th century homes, as well as a number of beautiful high-rise residential buildings. It’s located in close proximity to Downtown and the Design District, making it a hugely sought-after location for Miami residents both young and old.

    Following Baybakov’s acquisition of Renzi Renzo’s 39-story condo tower in Brickell last year was followed by this condo tower in Edgewater. These are calculated moves, made by a man who’s made himself very wealthy over the years in mining and real estate. You don’t get to be that wealthy without a good eye for market trends.

    A Bright Future for Miami’s Residential Properties

    In addition to Baybakov’s building, there are ten condo towers planned for the Edgewater neighborhood. That tells us that Baybakov is not the only developer who has high hopes and aspirations for Miami’s residential real estate and the future of condo living in Miami.

    To learn more about Oleg Baybakov, Miami’s investment opportunities, or to learn who else is investing in Miami real estate, READ MORE at the Sunny Isles Miami Real Estate Blog.

     

  • Arquitectonica Wins Against Seiger Suarez Infringement Accusations

    Posted Under: General Area in Miami, In My Neighborhood in Miami, Investment Properties in Miami  |  May 19, 2014 10:20 AM  |  256 views  |  No comments


    If you’ve been following the case of architect Sieger Suarez versus Arquitectonica International, you already know that Sieger Suarez Architectural Partnership sued Arquitectonica for using plans their architects had created over a decade ago before they were replaced for the Portofino South Beach project.

    Twelve years after the firm was replaced, Sieger Suarez brought litigation against Arquitectonica, stating that they not only used Sieger Suarez designs, but that the developers also did not pay an invoice for $150,000.

    However, as John Shubin – one of Arquitectonica’s attorneys and a partner at Miami’s Shubin & Bass law firm – states, the claim seems far-fetched. Why didn’t Sieger Suarez make any claims for that invoice back in 2000, or at least sooner than 12 years after their contract was terminated?

    Hesitation May Have Lost the Case

    Well, whether Seiger Suarez should have acted sooner or not, the judge presiding over the case has ruled in favor of Arquitectonica. It has been determined, in federal court, that Arquitectonica’s luxury Regalia condo tower does not bear enough resemblance to Sieger Suarez’s designs to merit any recompense.

    The Regalia tower began construction in 2012, after a long stall in development. The project is back on track and should be completed soon. These ultra-luxurious condos are sure to be the envy of all of the Sunny Isles Beach area. The 42-story tower will have only one unit per floor, giving its residents 360-degree views and as much floor space as they could ever want. Pricing begins at over $1,500 per square foot.

    Regalis Will Provide Serious Luxury

    While a 12-year hold for the project may seem a bit long, it actually turned out to be the best move possible for Arquitectonica. The Regalia tower has managed to miss the housing bubble and the collapse of the real estate market. While it was in the planning phase for many years, it will now emerge at the perfect time for property values and investments. 

    READ MORE
     at the Sunny Isles Miami Real Estate Blog.

     

  • Miami Condo Developers Are Reaching for the Sky

    Posted Under: General Area in Miami, Market Conditions in Miami, Investment Properties in Miami  |  May 19, 2014 9:58 AM  |  210 views  |  No comments

    The real estate in Miami has been stabilizing during the past several years, but now it’s starting to take off again. Just look at the race that some Miami developers are in for who can build the tallest skyscraper in Miami.

    First there was developer Jeffrey Berkowitz, who’s gained approval to break ground on an observation tower that will be over 1,000 feet tall.

    Joining the race for tallest building is Swire Properties, with a proposal for a 1,049-foot-tall condo tower.

    Who Will Get Approval

    Developers will need to get the approval of the FAA to climb that high in the sky and that of the City of Miami.

    Tibor Hollo of Florida East Coast Realty has the go-ahead to start construction on a 1,010-foot-tall building downtown, on Biscayne Avenue. Hollo has been quoted saying that he doubts that Swire will get approval from the FAA for their building because it is directly on Brickell Boulevard, though this may just be wishful thinking from Mr. Hollo.

    Swire’s representatives have stated that they are confident that they’ll get approval for the building. However, they have modestly maintained that they aren’t aiming at the title of tallest skyscraper.  As it sits directly on Brickell Avenue, the building is slated to be a statement building, a gateway into the Brickell City Centre complex.

    The Future of Residential Real Estate is in the Clouds

    Unwilling to sit by and cross his fingers for the competition to fail, Hollo is busy on another construction project in Brickell, as well. It seems that heaven-climbing skyscrapers are the future of Downtown Miami. Though Hollo’s Brickell project is not as tall as his Biscayne Boulevard Building, it will still reach just shy of 850 feet.

    For more information on the race to the skies, READ MORE at the Sunny Isles Miami Real Estate Blog.

     

  • Miami Considers Profitability of Soccer Stadium Over Retail and Tourism

    Posted Under: General Area in Miami, Entertainment & Nightlife in Miami, Investment Properties in Miami  |  May 19, 2014 9:28 AM  |  206 views  |  No comments

    Port of Miami is in a hard situation right now. The city has to decide which of two development ventures will be better for revenue, Miami real estate investments, and property values.

    n the one hand, they have David Beckham promising to bring his soccer team to Miami if the city will supply a waterfront stadium on 9 acres of land.

    On the other, that land was supposed to be promised to a proposed center for trade and tourism, which would have about 7 million square feet of potentially revenue-generating space.

    The Argument for the Stadium

    If David Beckham can bring a winning team to Miami, crowds could very well flock to the stadium for games. The area around the stadium could blossom with restaurants, bars, and retail shopping centers. Even condo towers could flourish and profit from increased property values, as people want to be close to the action.

    The Argument for the Trade and Tourism Center

    Supporters of the trade and tourism center would have the city remember that this is some of the most lucrative land in all of Florida. It’s an ideal setting for attracting all kinds of commercial businesses. They argue that giving up 25 percent of this land to a stadium would hurt revenue, rather than help it.

    The Decision

    Port of Miami has the biggest debts and is in the most financial trouble of any port on the east coast of the United States. The decision here could make that debt go away, or it could send Port Miami spiraling further into financial ruin.

    Which would you choose? Which will the city choose? Will it be the right decision? Read more about each side of the debate at the Sunny Isles Miami Real Estate Blog

     

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