#Condo for Sale Midtown Miami | Explore Tumblr Posts and Blogs

davidmartinterra · 2 years

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Real estate in Miami: Is it a wise investment?

You must know what to look for and how to choose the best real estate investment property if you intend to invest in Miami real estate. There are many things to think about, like the neighbourhood, the cost of the property, and other things that can influence your choices.

The housing market in Miami has recovered since the recession. Homes for sale in the area had a median supply of 8 months as of June 2020. This contrasts sharply with the 2.4 years it took in 2021.

A long-term decline in rates has given the real estate sector a boost in consumers' ability to purchase homes. The housing market in South Florida has poised for a renaissance thanks to an influx of high-income earners.

Downtown Miami is a thriving urban area at the centre of Miami's cultural and financial district. The neighbourhood, which dates back to the nineteenth century, provides a wide variety of dining and shopping options. Many of the oldest structures in the city are also found there.

Investors and financial institutions are pouring into the region. The city has consequently seen a surge in banking and fintech relocations. Additionally, a lot of businesses have benefited from the business tax structure.

Several significant cultural institutions are located in downtown Miami. The Miami Science Museum, the Museum Park, and the Adrienne Arsht Center for the Performing Arts are all located there. In addition, the neighbourhood borders Wynwood, a centre for arts and culture, and Midtown.

The new Rockefeller Center, also known as Brickell City Centre, represents the revitalization of the economy in downtown Miami. Additionally, there is a significant concentration of foreign banks there.

Since its resurgence in recent years, downtown Miami has been drawing more tourists. Visitors can find Bayfront Park, the Ultra Music Festival, and the new Miami Art Museum. Despite an increase, there haven't been enough foreclosures to significantly lower prices.

With home sales increasing for the first time in more than 15 years, the housing sector is experiencing an unheard-of boom. Although the market appears to be in good shape, prices have not yet reached their peak. A few factors will still influence the housing market's performance in the upcoming years.

The rate of foreclosures is significantly influenced by housing affordability. Many homeowners struggle to make ends meet as housing costs rise. They might be forced to sell their homes to make up for the difference, putting them in a difficult situation.

Higher mortgage rates, on the other hand, deter inexperienced buyers from investing in a new home. The number of foreclosure filings could also rise in a weakening economy.

In Miami, there are primarily two types of real estate. Condos and single-family homes. The local housing stock is made up of one in three condominiums. The condo is thus the ideal temporary fix for first-time homebuyers.

Additionally, condos cost more than single-family homes do. This might be a good thing for older couples looking to downsize, but for young families seeking a more affordable option, it can be a problem. Miami's financial, investment and banking industries are concentrated in Downtown Miami.

Although there are only a few counties with no foreclosure filings, many jurisdictions are setting the stage for an upsurge in repossessions. These include the states of Florida, Massachusetts, Nevada, and Utah. Miami real estate has attracted multimillionaires.

Real estate in Miami has attracted multimillionaires and millionaires. Numerous millionaires reside in the region, including Florida's top banker and real estate magnate Jeff Greene.

Both nationally and in the Miami area, real estate investment is booming. Wealthy individuals have already purchased some homes in the area and will keep doing so. Before leaving for other locations for the remainder of the year, many newcomers stay here for at least six months during the winter when the weather is pleasant.

The Florida real estate market has seen significant activity from Icahn Enterprises. This company is creating additional golf courses and has built or bought some properties in Vero Beach. Additionally, it has donated millions of dollars to Florida's public institutions. The New World Symphony performance hall, one of its developments, was built with $30 million from Philip Frost and Adrienne Arsht.

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karlapardo7-blog · 3 years

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condos for sale Midtown Miami

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tommybarone · 3 years

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Edgewater Condos for Sale

If you’re looking for an Edgewater Condos for Sale, give expert Realtor Tommy Barone a call at 305.527.2022. He’ll find you the most affordable deal. Tommy also offers realty services for the Downtown Miami, Brickell, and Midtown areas for both purchase and rental.

#Edgewater Condos for Sale

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tommybarone12 · 3 years

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Buy Miami Edgewater Condos for Sale for Luxury Life

Are you searching for a condo that would provide you with the ultimate address of peace and tranquility? Miami Edgewater condos can provide you with that. Furthermore, this could be the perfect match for buyers who are interested in waterfront properties. Love to be pampered amidst nature, away from the crowds. These are the factors that will attract a buyer to available Miami Edgewater condos for sale or lease:

· Here, you can start a good life. With Biscayne Bay as the backdrop, this place is lovely. You will simply love the outdoor paradise amenities that Edgewater condos provide. For example, having picnic areas and BBQ areas, a swimming pool, spa and gym, tennis, and racquetball courts are just a few of the top amenities.

· The turquoise blue water, picturesque sunsets, and acres of greenery await your appreciation. This place seems out of this world and simply ethereal. It is among the hottest areas in Miami now.

· Whether you are looking for a vacation home, Edgewater condos should be the first option on your mind. Condominium living is ideal for outdoor enthusiasts desiring to enjoy a variety of recreational activities and sports

If you appreciate the profoundness of nature, then Edgewater condos would be your best choice. If you're looking for an Edgewater condo for sale, give expert Realtor Tommy Barone a call at 305.527.2022. He'll find you the most affordable deal. Tommy also offers realty services for the Downtown Miami, Brickell, and Midtown areas for both purchase and rental.

#edgewater condos for sale

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darlenelaure · 6 years

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An Exclusive 1 Bedroom Condos For Sale At The Plaza on Brickell On The 49th Floor

Condos For Sale At The Plaza on Brickell On The 49th Floor

Put an offer on this exclusive 1 bedroom condo on the 49th floor of the residences at The Plaza on Brickell, located in the heart of Downtown Miami’s most desirable district.

The Plaza on Brickell is the most alluring luxury condominium development in the coveted neighborhood of Downtown Miami.

Brickell, home of Miami’s Financial District and Brickell City Center, has been revitalized with a vast increase of sensational high-rise residential condominiums and skyscrapers adding to Miami’s iconic city skyline.

At the heart of Brickell is famed Mary Brickell Village, comprised of an elegant array of upscale boutiques, world-class fine dining restaurants, gourmet fresh markets, exclusive hotels, swanky lounges and much more.

Just north of Brickell is the bustling epicenter of Downtown Miami, with renowned museums, theatres, parks, shops, office buildings, schools, colleges, restaurants, bars, cafes, libraries, entertainment, night life, and the most exclusive events in the city at your doorstep.

To the south lies the beautiful seaside enclave of historic Coconut Grove, the distinguished shops at CocoWalk, and Miami’s most prestigious private schools including Ransom Everglades, Carrolton School of the Sacred heart, and Immaculata-Lasalle High School.

Living in Brickell gives you access to the most sought-after highlights of this sunny city like Miami Beach, Midtown, Wynwood, the Design District, and the convenience of the Metrorail hub to make commuting a breeze.

The Plaza on Brickell is a luxury residential complex development comprised of two striking high-rise towers with a total of 1,000 condos and an exclusive retail center at the base connecting them.

The gorgeous East Tower offers 56 floors with 560 grandiose units, ranging from 1-3 bedrooms condos and penthouses.

The residences at the East Tower of the Plaza at Brickell start from 628 square feet to 2,170 square feet and are listed from $275,500 to $850,000.

Completed in 2008, the project was created by the leading developers of The Related Group of Florida and masterfully designed by the illustrious team at Arquitectonica.

Surrounded by glistening waters, this building offers the breathtaking panoramic views of the beautiful Atlantic Ocean, Miami River, Biscayne Bay, Key Biscayne, as well as the iconic Downtown city skyline.

On the 10th floor the two sophisticated Plaza Towers are connected with two enormous infinity-edge heated swimming pools, waterfall cascades, a lush tropical garden, poolside cabanas, jacuzzi, and a martini lounge, among other desirable amenities.

This attractive 1 bedroom/1 bathroom unit is ideal for any single person or couple looking to move to this thriving oceanfront district.

It is also the perfect opportunity for anyone looking to invest in the lucrative luxury condo market. With an asking price of $370,000 and a total of 628 sq. ft., this unit is a steal at $589 per sq. ft.

High up on the 49th floor, with impressive floor-to-ceiling windows and a massive wraparound balcony, this unit affords you the most sensational views in Miami.

Unit Features:

24-hour full-service concierge

valet, and security

Unit comes unfurnished/designer-ready

Split floor plan

First floor entry with private elevators

Pet-friendly

Stylish wood flooring throughout

Spacious walk-in closets

full-length vanity mirrors

Grand wrap around balconies

Energy-efficient and impact-resistant windows

Energy-efficient and impact-resistant sliding glass doors

Full-size stackable washers and dryers

Chef kitchens with imported Italian cabinetry

fine granite and terrazzo countertops

stainless steel double sinks and appliances

Bathrooms with soaking tubs

glass-enclosed showers

Amenities at the Plaza on Brickell:

The residences at the Plaza on Brickell pamper you with the finest accommodations enriched by its first-class service and unparalleled resort-quality amenities, including:

Two infinity-edge heated pools

Deck with romantic poolside cabanas

Cigar Lounge with a humidor

Martini bar

Club rooms with billiard table

Wine storage

Full-service business and media center

State-of-the-art fitness center

Latest fitness facilities and equipment

Indoor cycling, personal trainers

Group classes like Zumba, Yoga, Pilates, and more

Two signature on-site fine dining restaurants

Spa/Hot Tub

Sauna/Steam Rooms

Gourmet market and kitchen

Boutique catering service

Contact Elmir Group, experts specializing in luxury real estate, for more information on this extraordinary 1 bedroom condo for sale at the exclusive Plaza on Brickell.

from ELMIR Group - Feed https://ift.tt/2wT4FO6 via Elmir Group - Coconut Grove Realtors An Exclusive 1 Bedroom Condos For Sale At The Plaza on Brickell On The 49th Floor published first on https://theelmirgroup.tumblr.com

#Elmir Group #Penthouses #Beaches #Condos

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brickellventures-blog · 6 years

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HYDE MIDTOWN: Check Out The Resale Stats For This New Condo Tower In Greater Downtown Miami. Generally, An Indeterminable Number Of Additional Units - As Much As 35% - Are For Sale In A New Tower But Not Listed. For Info, Please Visit: https://goo.gl/Baogzf

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tradedmiami · 3 years

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SALE IMAGE: Sheyenne Mammina DATE: 03/08/2021 ADDRESS: 3470 E Coast Avenue Ph103 MARKET: Midtown, Miami ASSET TYPE: Condo BROKER: Sheyenne Mammina @SheyenneMarieRealEstate - London Foster Realty SALE PRICE: $1,165,000 SF: 3,138 ~ PPSF: $371 #Miami #RealEstate #tradedmia #MIA #Midtown #Condo #SheyenneMammina #LondonFosterRealty

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nightmare-afton-cosplay · 6 years

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Sick of Renting? Here Are the Top Buyer’s Bargains in America’s Biggest Cities

Michael Lee/Getty Images; realtor.com

Just how high can home prices go in America’s biggest cities? That’s the question many prospective buyers are asking as they wait (and wait) on the sidelines of the nation’s top housing markets—watching for that magical time when crazy-high price tags get slashed and they can sprint toward the homeownership end zone.

That day hasn’t come yet. Sure, the pace of home price growth nationally has slowed a bit in recent months. However, we’re still far from an overall buyer’s market, with prices continuing to move upward in most places. And that climb has been the most pronounced in the big cities. The median home price in urban areas is up 36.1% over the past three years*, compared with a 24% jump in suburban areas and 18.8% in rural communities. Put simply: Big cities are just as desirable as ever, and are still engulfed in bidding wars.

But don’t give up and sign that new rental lease just yet! There are neighborhoods in the country’s biggest cities where home buyers have the upper hand—places where prices are affordable, plenty of homes are for sale, crime is relatively low, and the work commute is reasonable. The realtor.com data team set out to find these urban unicorns.

“Buyers are getting creative to make the dream of homeownership become a reality, while also dealing with the reality of their budget,” says Danielle Hale, chief economist for realtor.com®. “They’re looking for homes that might be smaller or maybe require some work, or to neighborhoods that are less expensive that might be their second pick.”

“Usually what you want are not the established neighborhoods,” agrees Andres Carbacho-Burgos, a senior economist focused on housing at Moody’s Analytics.

To come up with our list, we analyzed the ZIP codes in the nation’s 10 largest cities. We measured median prices, days on market, and the share of homes for sale. And we included only ZIP codes with at least 12 homes on the market in any given month.

To ensure these were places where folks would actually want to live, we eliminated neighborhoods where commuting to the city center by car or public transit takes more than an hour in rush hour, and we knocked off places with high crime rates. In two markets (Dallas and Miami), our picks actually have higher home prices than the overall city. The reason: Many neighborhoods in these places have high crime rates and were removed from our rankings.

OK? Let’s take a tour of the secret (and safe!) big-city neighborhoods that won’t break the bank.

Best Bet For Buyers in America’s Biggest Cities

Claire Widman

1. New York, NY

Median city list price: $800,000 Buyer’s haven: Astoria, Queens (ZIP code 11105) Median ZIP list price: $444,300

Homes in Astoria

Boogich/iStock

For the past few years, Queens has been touting itself as the “new Brooklyn” as prices in that ultratrendy borough have gone nuts. There are still a few refuges here where folks can find reasonably priced homes, relative to the rest of New York City, and enjoy top-notch ethnic restaurants, craft cocktails, and plenty of fun things to do.

Enter the Ditmars-Steinway section of multicultural Astoria. The area is easily accessible to Manhattan and boasts plenty of condos, co-ops, townhomes, and modest—albeit pricey—multifamily brick homes. The latter offers buyers a chance to rent out the other housing units to help with their mortgage payments. (Realtor.com looked only at single-family homes in our analysis.)

“Proximity to Manhattan is one of the main reasons people like Astoria,” says Paul Halvatzis, a real estate agent with Amorelli Realty. “You can be in midtown in four or five subway stops, and the area is very safe.”

Let’s get back to that cuisine: The neighborhood was traditionally known for its Greek, Italian, and Middle Eastern cuisine, but it’s since seen an explosion of international eateries open in recent years. Foodies are crazy about the place.

2. Los Angeles, CA

Median city list price: $650,000 Buyer’s haven: Sylmar (ZIP code 91342) Median ZIP list price: $508,948

Houses in Sylmar

JEWEL SAMAD/AFP/Getty Images

It’s so hard to find a true bargain in Los Angeles, more buyers are exploring areas that are a bit off the beaten path. Sylmar is a more rural neighborhood on the edge of L.A., about 45 minutes from downtown. It sits on the foothills of the San Gabriel Mountains and Angeles National Forest. And buyers there can still score some great deals.

“There’s a lot of different types of homes here,” says local Realtor Mel Wilson. “You can get a two-bedroom condo in the $300,000 range or a single-family with property for horses or animals starting in the $500,000s.”

The number of homes on the market is lower now than it’s traditionally been, but more inventory has become available recently.

3. Chicago, IL

Median city list price: $325,000 Buyer’s haven: Ashburn (ZIP code 60652) Median ZIP list price: $184,783

Brick bungalows in Ashburn

stevegeer/iStock

After a long run of bidding wars, escalating home prices, and an exodus of residents to the low-tax suburbs of nearby Indiana, Chicago’s housing market is starting to come back down to earth. And bargain-savvy city dwellers are beginning to look in the southwestern neighborhood of Ashburn.

The neighborhood boasts plenty of brick bungalows and ranches and is close to public transit and highways. Plus, it’s just a 30-minute drive from downtown. It’s getting an upgrade with beautification projects, lots of home renovations, and a slew of new independently owned stores, cafes, and restaurants.

“This neighborhood has great potential for growth and future price appreciation,” says Nick Libert, a Realtor with Exit Strategy Realty. “It’s one of the most affordable places in the city.”

4. Houston, TX

Median city list price: $293,000 Buyer’s haven: Meadowbrook (ZIP code 77017) Median ZIP list price: $165,012

Three-bedroom home listed for $165,000 in Meadowbrook

realtor.com

Those looking for a Lone Star deal should check out Meadowbrook, a 35-minute rush-hour drive from Houston’s downtown. Budget-conscious buyers are scoring 1,200- to 1,700-square-foot, midcentury bungalows and other fixer-uppers for between $110,000 to $180,000.

Those affordable prices have resulted in an influx of DIY-ready millennial buyers who are purchasing older homes and fixing them up, joining families who have lived in the area for generations.

“Houses will sit on the market longer because it’s not downtown, midtown, River Oaks, or any of the ‘nice, nice’ neighborhoods,” says local real estate broker Isabel Lopez. “But you get a good, safe place and enough money left to live.”

5. Dallas, TX

Median city list price: $389,000 Buyer’s haven: Bishop Arts/Kessler Park/Winnetka Heights (ZIP code 75208) Median ZIP list price: $426,085

Four-bedroom house in Winnetka Heights listed at $389,000

realtor.com

More akin to funky Austin than traditional Dallas, this ZIP code includes the Bishop Arts area, perhaps the hottest dining and cultural destination in this sprawling metro. It boasts innovative restaurants, third-wave coffee shops, and live music venues that attract hipsters from everywhere.

However, while just about every Dallas millennial wants to hang out in Bishop Arts, not everyone wants to live amid all the action—and deal with the crowds and lack of parking. So it’s not as hard for buyers to pick up a historic home in this neighborhood, providing they don’t mind getting a fixer-upper. There are also recently renovated homes available for well under the median list price.

But buyers still must be prepared to shell out a bit more than the city’s median listing price, which is dragged down by lots of neighborhoods with high crime rates. Those who love the place believe it’s worth every penny.

“It’s a bit higher-priced in comparison to some other areas nearby because you’re buying the district,” says DeLisa Rose, a real estate broker at Re/Max Ambassadors.

The northern section of the ZIP code is home to Winnetka Heights and Kessler Park. Winnetka Heights is a little cheaper, offering a median list price of $407,000 compared with the $670,000 median in Kessler Park. The latter is a quieter, more upscale neighborhood of well-kept historic homes that are in high demand among those who can afford the old-money locale.

“Kessler Park is where they go when they get married,” says Rose. “Bishop Arts is where people have fun.”

6. Philadelphia, PA

Median city list price: $219,000 Buyer’s haven: Pennypack Park/Holmesburg (ZIP code 19136) Median ZIP list price: $147,546

Pennypack, Philadelphia

realtor.com

Philadelphia’s Great Northeast, appropriately titled for its proximity to the city center, has become an increasingly desirable—and affordable—place to live.

This ZIP code, which includes the communities of Pennypack Park and Holmesburg, features beautiful green spaces, old-school commerce corridors, and a swath of great restaurants. That area was founded around a gristmill in 1830. So its classic brick and fieldstone row homes have long been occupied by hardworking, blue-collar workers.

More recently, as prices have steadily climbed in the neighborhoods surrounding the city’s center, this has become an increasingly attractive area for 30-something first-time buyers. They appreciate the easy 20-minute commute to downtown, active civic association, and bigger homes, which often include a coveted garage.

“People can purchase a lot of home for the price,” says Britt McLaughlin, a Realtor with Philly Home Girls.

7. Washington, DC

Median city list price: $599,000 Buyer’s haven: Dupont Circle (ZIP code 20036) Median ZIP list price: $416,583

Townhomes in Dupont Circle

amedved/iStock

Dupont Circle is a safe, gay-friendly neighborhood with good public transit options; a thriving dining, drinking, and shopping scene; and a higher price per square foot that matches its many amenities. A wide mix of younger and older professionals have long called the neighborhood’s beautiful row houses and brownstones home. It’s also home to embassies from various countries.

As nice as it may be, Dupont Circle is considered a balanced market with a healthy mix of buyers and sellers. Prices remain reasonable because many of today’s buyers are hotter for larger properties in neighborhoods that are farther out from the heart of DC but still boast a lively nightlife. These up-and-coming neighborhoods, including Brookland, Shaw, and Columbia Heights, offer more space for the money. As a result, prices in Dupont Circle have been coming down.

“The days on market here are increasing,” says Jennifer Vaughn, a real estate agent with the Mandy and David Team. “Buyers are not as willing to sacrifice space or parking for a cachet neighborhood.”

8. Miami, FL

Median city list price: $399,000 Buyer’s haven: Downtown Miami (ZIP code 33132) Median ZIP list price: $416,900

Two-bedroom, two-bath Miami condo for $360,000

realtor.com

Miami’s buzzy downtown also happens to be one of the city’s few walkable neighborhoods, packed with world-class nightlife and even a few cultural institutions of note. It’s quite safe, too.

That’s partly why the median list price here is slightly higher than the city’s. The other factor is the stronger supply of homes for sale in this part of the city.

As the South Florida real estate market has taken off, developers sought to cash in on downtown’s amenities, putting up high-end condos faster than President Donald Trump sends out tweets. There are now more luxury condos than there are buyers with big-enough paychecks to afford ’em—exacerbated by the drop-off in the international market. So sellers are lowering prices on condos and trying to attract buyers.

Real estate agent Samantha DeBianchi of DeBianchi Real Estate has been able to score some serious deals for her clients. She shocked one recently when she advised him to offer $630,000 on a 1,200-square-foot, two-bed, two-bath listed for $750,000.

“He was, like, ‘You really think I could get it this low?’ And he did.”

9. Atlanta, GA

Median city list price: $350,000 Buyer’s haven: Atlantic Station (ZIP code 30363) Median ZIP list price: $339,4040

Atlantic Station development

Davel5957/iStock

Hotlanta has been on fire for the past few years, with prices rising steadily. But there are signs that the housing market is beginning to cool, as condo prices and sales are slowing, says Realtor Ryan Sconyers of Keller Williams Realty.

That’s making it easier to get into one of the chic high-rises in Atlantic Station with jaw-dropping views of the city skyline. The neighborhood is just north of the Georgia Institute of Technology and about a 20-minute bike ride from downtown Atlanta. There are plenty of single-family homes in the area, which seems a bit like its own little bubble within the city, with an open-air mall, restaurants, and an Ikea all within a 50-acre gulch that used to be an old steel mill.

10. Boston, MA

Median city list price: $749,000 Buyer’s haven: Hyde Park (ZIP code 02136) Median ZIP list price: $378,786

Listed at less than $400K in Hyde Park

realtor.com

Hyde Park, which is about as far southwest as you can go in the city, is where many young families, teachers, and police and firefighters (public servants who have to initially live within the city’s borders) have begun laying down roots. The neighborhood is filled with 1950s-era Cape Cod homes with nice-sized yards. And it’s only about 20 to 30 minutes from downtown via commuter rail.

The area isn’t as trendy as the other parts of town; there are few condos and only about five restaurants in the commercial district. But it’s slowly adding some new development. And in a boon to buyers, the neighborhood has seen a surge of new listings hitting the market. They’re up 20% year over year as of Sept. 1, according to realtor.com data.

“We get a lot of people who can’t afford some of the higher-end areas, so they move here,” says real estate broker Pat Tierney of Tierney Realty Group.

11. San Francisco, CA

Median city list price: $1,400,000 Buyer’s haven: NONE

Somewhere through that fog… there are no bargains.

Greg Chow/Getty Images

Sorry, San Franciscans. There simply aren’t any neighborhoods to find true deals in. Buyers on a budget may want to: a) marry rich, b) play Mega Millions, or c) invent the next Uber. Good luck!

* We compared the first six months of median sale prices in 2015 with the first six months of 2018.

The post Sick of Renting? Here Are the Top Buyer’s Bargains in America’s Biggest Cities appeared first on Real Estate News & Insights | realtor.com®.

from https://www.realtor.com/news/trends/the-best-value-neighborhoods-in-the-biggest-us-cities/

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walterfrodriguez · 4 years

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Condo sales rise, but dollar volume falls in Miami-Dade

Condo sales rose last week, but dollar volume declined in Miami-Dade County.

A total of 109 condos sold for $54 million last week. That’s compared to 96 units that sold for $58 million the previous week. Condos last week sold for an average price of about $492,000 or $315 per square foot.

The most expensive sale was at Turnberry Ocean Colony. Penthouse 3702 sold for $6.5 million, or $1,140 per square foot. The listing agents were Joseph Zichelle and Melissa Barragan, and the buyer’s agent was Adam Gurewicz. Commercial real estate investor Republic Investment Co. sold the Sunny Isles Beach penthouse to Dr. Michael and Martha Davidson.

The second most expensive sale was at Two Midtown Miami. Penthouse 1006 sold for $2.8 million, or about $700 per square foot, after just 39 days on the market. Lourdes Alatriste represented the buyer and seller.

Here’s a breakdown of the top 10 sales from Aug. 9 to Aug. 15. Click on the map for more information:

The post Condo sales rise, but dollar volume falls in Miami-Dade appeared first on The Real Deal Miami.

from The Real Deal Miami & Miami Florida Real Estate & Housing News | & Curbed Miami - All https://therealdeal.com/miami/2020/08/18/condo-sales-rise-but-dollar-volume-falls-in-miami-dade/ via IFTTT

#The Real Deal Miami & Miami Florida Real Estate & Housing News | & Curbed Miami - All

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tommybarone12 · 3 years

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Buy Apartment Through Best Realtor in Miami?

Over the last few years we have seen lot of people moving to Miami for work. Most of these professional buy an apartment, condo or luxury homes in Miami. Most of the young adults buy it as their primary home which some also buy it as secondary home.

Most of the Miami Apartments for sale have best of the amenities that you or your family may need. Miami apartments and Miami condos have swimming pools, fitness center, café, kids play area and lot of other amenities. This is one of the main reason people prefer to buy condos and apartments in Miami.

It is important that when you planning to buy a condo or Miami apartments for sale, you should approach a reputed and trusted realtor in Miami. Tommy Barone is considered a reputed realtor in Miami. Whether planning to buy an apartment or condo or looking it for rent, he can help you with both. He has a long list of condos and apartment in Brickell, downtown Miami, Edge water Midtown, North Bay village and many other places in Miami.

Tommy Barone is considered very knowledgeable for condos, apartments and luxury homes in Miami. He can also help you get the best price and will update you about the complete buying process. Most of the Tommy clients are today through references which surely talks about the quality of his work and service. Feel free to reach Tommy Barone online at https://www.tommybarone.com/ or call him at 305.527. 2022

#Miami Apartments for sale

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alfredrserrano · 5 years

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Movers & Shakers: Sapir announces sales team for Surfside project, Franklin Street taps retail head & more

Alex Sapir’s sales team (from left: Mick Duchon, Eloy Carmenate, Tara West, Alex Sapir, Oren Alexander, Jay Philip Parker, Dean Bloch)

Developer Alex Sapir named his sales team for Arte by Antonio Citterio, a luxury condo development in Surfside. Douglas Elliman’s Oren Alexander, Tara West, Eloy Carmenate, Mick Duchon and Dean Bloch are leading sales of the 12-story, 16-unit condo building at 8955 Collins Avenue.

Citterio, an Italian architect, is designing the project along with Kobi Karp. The building received its temporary certificate of occupancy late last year. Elliman took over sales at Arte from Corcoran Sunshine in November. Prices start at $7.9 million.

Caroline Cheng returned to Franklin Street as director of retail leasing services in the company’s Miami office. Cheng was previously corporate real estate manager for Checkers and Rally’s Drive-In restaurants. Before that, she worked at Franklin Street, Brookfield Properties and Global Franchise Group.

Suffolk hired Ann Klee as executive vice president. Klee was previously vice president of Boston development and operations at GE, where she oversaw the search for GE’s new headquarters and its move to Boston. At Suffolk, Klee will be responsible for leading the company’s presence on a national scale.

Peter D. Sheridan joined JLL as an executive vice president. The industrial broker leads a team responsible for overseeing the leasing of 5 million square feet of Class A distribution and manufacturing space in South Florida. Most recently, Sheridan was senior director of leasing and development for Liberty Property Trust. He also previously worked for JLL as part of the agency leasing team in South Florida.

Anthony Seijas is now a principal at Altis Cardinal, focused on expanding the company’s multifamily platform. Anthony Seijas’ experience includes more than 26 years at Lennar Corp., where he was a regional vice president overseeing homebuilding operations in South Florida, and at Rialto Capital Advisors, a former Lennar subsidiary.

Adam Starr was hired as managing director of NAI/Merin Hunter Codman. Starr will specialize in the sale and leasing of office and industrial properties throughout south Palm Beach and Broward counties. He’s worked on deals totaling more than 15 million square feet of buildings.

Nick Quay joined Avanti Way Realty as a real estate agent.

Eyzenberg & Company opened a new office in Florida, marketing the third location for the commercial real estate investment bank. Eyzenberg & Company opened an office at 800 Brickell Avenue, just as the bank provided a bridge loan for a mixed-use project in Daytona Beach.

David Geller is now chief operating officer at Anatomy, a South Florida-based gym. Anatomy has locations in Miami Beach and near Midtown Miami and plans to open at Regatta Harbour in Coconut Grove.

Interior designer, furniture designer and space planner Alan David Cohen merged his team with Janine Geller, his business partner and stepdaughter. Geller is now creative director of Design House.

Jordan Nicholson joined Katz & Associates as a sales associate handling tenant and landlord representation. Nicholson previously interned for the firm.

The Mager McQueen Group joined Compass. The 10-agent team, led by Ann McQueen and Jeff Mager, will work out of Compass’ Fort Lauderdale and Hollywood offices. They previously owned their own firm, Elite Coastal Properties.

Daniela Rendon is now an in-house sales executive at 57 Ocean in Miami Beach. Fortune Development Sales is handling the project’s sales and marketing. Rendon was previously an agent at The Estates at Acqualina.

Driftwood Acquisitions & Development rebranded to Driftwood Capital. The company is looking for deals in the $30 million to $150 million range for development and acquisition. Its mezzanine lending division is issuing loans in the $3 million to $50 million range.

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nicolesrollins · 5 years

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Heading for higher ground: Why savvy SoFla developers are turning to Orlando for new projects

(Illustration by Andrew Colin Beck)

When Noah Breakstone first started shopping for development deals in Orlando in 2008, he didn’t see many others from South Florida doing the same thing.

But within the past few years, Breakstone, CEO and managing partner of Fort Lauderdale-based real estate development and investment firm BTI Partners, said he has seen a gradual increase in the number of South Florida developers turning their eyes northward.

“There’s a good number of developers from Miami up there these days,” Breakstone said. “That wasn’t the case before. It’s very frequent that I’m on the plane with other developers looking at Central Florida.”

If you ask the developers themselves why they are seeking projects in Orlando, they’ll say South Florida’s current development cycle is built out, land is expensive, vacant land is almost nonexistent and other costs are rising. Add to that the fact that Orlando is still growing fast in terms of visitors and population. Some cite the simple need to diversify their portfolio among different markets.

While all of these factors are certainly true, if you dig a little deeper and talk to more experts, you’ll find another reason why rising development costs in South Florida are inspiring developers to invest elsewhere: climate change.

“There’s no question that [rising seas and bigger storms are] driving rising costs along the coast, causing some to pause,” Breakstone said. “There’s only one direction the costs will go, for real estate and for taxes.”

BTI bought an 890-room condo-hotel development, now called the Grove Resort & Water Park, west of Disney World in 2014. For six years, the resort had been vacant and in foreclosure — Central Florida’s largest ever, at $150 million. BTI took possession of it after an auction with a credit bid of $69 million. BTI is still finishing the resort, building out the third phase.

Headline-grabbers who’ve been at the helm of some of South Florida’s biggest projects are also engaged in large-scale developments in Orlando.

Take, for example, Art Falcone — one of the developers behind the $4 billion Miami Worldcenter project — who is now building out a sprawling, Jimmy Buffett-themed Margaritaville development, also near Disney World.

Michael Dezer, too, whose company built the seaside high-rise cluster of Trump Towers and the Porsche Design Tower in Sunny Isles Beach, bought the 104-acre Artegon Marketplace shopping center in Orlando for $23.7 million in January 2018. Dezer is in the process of transforming the mall into a giant auto museum, and has filed plans to build the first of several possible apartment high-rises on the edge of the property.

And then there’s Alex Vadia, the developer behind Miami’s booming Midtown redevelopment, who bought entire city blocks in downtown Orlando in 2016, calling those purchases a long-term investment. Vadia’s buys include about 19 acres where the Orlando Sentinel’s hulking offices are, now emptied of printing presses. Vadia declined to comment on his investment for this story.

Pricey precautions

The cost of climate change and rising seas is very real in South Florida. Many luxury homes on the coast are being built with the idea that the ground floor can flood and leave most of the home above intact. The city of Miami Beach is spending $500 million to raise roads and seawalls. A recent report from Miami-Dade County said a majority of the region’s 67,000 septic tanks could be rendered ineffective in 25 years as water levels rise. The cost to connect all of those septic tanks to sewers would be more than $3.3 billion. As Breakstone said, those items add to taxes, land costs and, eventually, construction costs. Rising insurance costs along the coast also add to overall costs.

Much of Miami is only about six feet above sea level, and Miami Beach has large areas that are lower than that, where high tide events regularly flood streets. Orlando, in contrast, ranges from about 50 feet to more than 100 feet above sea level. The dubiously named Sugarloaf Mountain, just 30 miles west of downtown Orlando, is 312 feet above sea level.

An article published by the science journal Environmental Research Letters in May 2018 found correlations between elevation and property value appreciation in Miami-Dade County.

The article specifically stated that rising seas may result in climate gentrification in Central Florida, and said interviews conducted for the study suggest that “speculative property investors are already hedging on South Florida’s gradual exodus to central and north Florida.”

Despite the reported correlations, the study did not disclose specific cost data as relates to elevation — partly because many other factors influence property values.

“The findings would suggest that a consumer preference may exist in favor of higher elevation properties. Likewise, lower elevation properties may be subject to lower rates of appreciation due to flooding concerns,” the article said.

Jesse Keenan, a social scientist and faculty member at Harvard University and one of the study’s authors, said they did not look at statewide migrations, but the interviews done during their research support the idea that higher-level cities in Florida such as Orlando could be seeing some boost in migration or property value due to sea level concerns.

The allure of Orlando

While Orlando’s commercial and residential prices may one day eclipse those in Miami, they certainly aren’t there yet. Roughly $200,000 can buy a home of about 2,000 square feet in Orlando, but only about 835 square feet in Miami, according to a CNBC story based on 2018 Property Shark data.

There’s also a marked disparity in commercial prices between the two cities. A recent sale of a property in downtown Miami clocked in at $435 per square foot. In comparison, property around the edges of downtown Orlando has sold recently for less than $100 per square foot.

For more developers, Orlando projects seem to offer better bottom lines. Planned and under-construction office projects remain limited in Miami primarily because of high construction costs, high land prices and limited land availability, a CBRE 2019 forecast reported.

The average sales price per square foot for office properties has risen over 76 percent in five years and is projected to continue rising, the report found. In contrast, CBRE’s Orlando report cited “abundance of developable land, coupled with strong demographics.”

Orlando has been ranking in the top 10 U.S. cities for job and population growth in many recent years. The metro area swept past 2.5 million people for the first time in 2017, adding 56,000 residents, according to the U.S. Census Bureau. The Miami metroplex, which includes Fort Lauderdale and West Palm Beach, stood at around 6.1 million in 2017.

Rodrigo Azpurua, president and CEO of Miramar-based Riviera Point Development Group, said Orlando’s growth attracted his company’s investment in two new hotels near SeaWorld. And while the firm hasn’t given up on Miami, he also said he’s seen more Miami-area investors looking at Central Florida.

An additional factor behind Riviera’s Orlando move is to hedge the company’s bets in the event of a major hurricane strike.

“Sea level rise is happening, but not at the level that has impact in short term,” Azpurua said. “Having part of the portfolio in Orlando, in case of a hurricane in South Florida, that will protect us. It’s less likely in Orlando to have a major storm since it’s an hour from the coast.”

Denial ain’t just a river

While plenty of developers will admit that rising costs are driving an increasing number of their projects north, they’re often loath to connect the decision to climate change.

“I’m not smart enough to know what will happen with sea level in the future,” said Scott Webb, president of West Palm Beach-based Kolter Hospitality. “We’ll continue to invest in South Florida. Our moves to other markets are a long-term investment.”

The company is developing an AC Hotel at the top of Orlando’s newest downtown high-rise, the 28-story Church Street Plaza. The 180-key hotel should start on interior buildout this year and open in April or May of 2020, Webb said. Kolter also has new projects in Sarasota and St. Petersburg.

Rising costs are a factor in the company’s search for new markets, said Webb, but construction costs are making it difficult to complete projects everywhere. He dismissed the notion that climate change is behind Kolter’s Orlando investment.

“Like those locations [Sarasota and St. Petersburg], Orlando is attractive to us because it has multiple demand generators in business and leisure travel,” he said. “We look for high-density, urban, walkable locations. There’s only a few markets that offer that in Florida.”

Other developers emphasize an increasing number of benefits to development in Orlando as the primary reason for their moves.

Falcone, for one, is not new to Orlando, but his Boca Raton-based Falcone Group has made big new bets on Central Florida in part due to increased transit options, he said. It’s behind the $800 million, 300-acre Margaritaville Resort Orlando, which opened in December with a 12-acre water park and a plan for 1,200 homes over 300 acres. Vacation homes will start at $250,000. Falcone’s also developed projects in Reunion, a resort community near Disney World.

Falcone said the Miami and Orlando markets are increasingly interconnected. He cited the planned Virgin Trains route that will provide new dedicated rail service between both cities.

“What we’re seeing in Florida over the last 15 years is international travelers will go to Miami and Orlando,” Falcone said. “They take off a couple weeks often, and they want to see both places. That’s why the train connection makes so much sense.”

At 59, Falcone said, he doesn’t see sea level rise as a problem for his Miami Worldcenter.

“I wouldn’t say developers are ignoring it. It’s out of our control except for making buildings more sustainable,” Falcone said. “Downtown, I don’t see that affecting us in my lifetime… maybe the beach areas.”

There’s evidence to suggest that developers and homeowners have the climate issue very much on their minds, said Leonard Berry, retired director of the Florida Center for Environmental Studies at Florida Atlantic University, who has served as a consultant for many environmental development agencies.

“If you’re seeing more South Florida people investing in Central Florida, I’d certainly think they are hedging their bets regarding long-term development,” Berry said.

The conversation is difficult for real estate professionals, added Berry, because they are afraid that more talk about the problem will lead to an exodus from areas along the coast.

Jason King, principal at Miami-based planning and design firm Dover, Kohl and Partners, said most developers still don’t willingly consider sea level rise in their new projects at first.

“They ask why they have to raise to 10 feet when 6 feet is the minimum. We say, ‘You really need to raise to 10 feet,’” King said. Realtors, though, are now talking a lot about rising seas in their conversations with buyers and sellers, he added.

“I bought another house in South Miami last year, and the Realtors talked a lot about sea level rise and climate change. They knew the flood zones and the evacuation zones,” King said.

For many wealthy buyers, however, the appeal of living on or near the water will override any concerns about additional costs, BTI’s Breakstone said. “The coast is the coast. People who want to be on the water; that’s a big factor for them,” he said.

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