A penthouse at the oceanfront condominium building of the One Thousand Ocean in Boca Raton has been sold for $7 million. The buyer of the 4,628 square foot penthouse which is known as the sky is undisclosed. The unit has a 3-car garage, private poolside cabana, private elevator, and 2 terraces which is a total […]
Category Archives: Luxury
Homebuyers paying top dollar for new trophies
Wealthy homebuyers are not buying the resales of Miami’s most prized properties. They are instead setting records on extravagant new penthouses. Duplex penthouses at Ian Schrager’s residences were sold for $34 million which is a new record in Miami. Schrager and other developers in South Florida are building new projects with exclusive amenities for the […]
Christian Slater picks up $2.2M Coconut Grove villa
Christian Slater bought a 3-bedroom home at 3618 St. Gaudens Road for $2.2 million. This is located in Miami’s Coconut Groove neighbourhood. This house was on sale in January. The original price was $2.59 million listed under Antonio Rios of Shelton and Stewart Realtors. Christian Slater is known in the black comedy “Heathers”. His representative […]
A-Rod sees $15M profit from Miami Beach home
Alex Rodriguez, who is the Yankees Slugger sold his Miami Beach Mansion for $30 million. This has set sales record for a home on the North Bay Road for netting $15 million profit. Rodriguez bought this property in May 2010 for $7.4 million. The property is located in 4358 North Bay Road and had renovations […]
Los Angeles hotels flock to South Beach
Los Angeles hotels are expanding in South beach after the SLS Hotel South Beach has been successfully opened last year.. This fall, the Redbury Hotel South Beach will be opening. Behind tis project is the Levy Restaurants founder, Larry Levy. This hotel will not be located near the ocean, but this 69room property will have […]
Related’s condo chief Carlos Rosso says last construction cycle still dwarfs current boom
Although tens of thousands of condominiums and rental properties are in the pipeline, the Miami area is still experiencing inventory shortgages, Carlos Rosso, the head of condo development at the Related Group, said on WLRN’s Sunshine Economy. Miami is still having inventory shortages despite the condominiums and rental properties ongoing. This is according to […]
Some 600 SoBe condos unsold from last boom
CondoVultures.com analysis of the 1st quarter of 2013 revealed that 600 new South Beach condos are not yet sold. These are the vestiges of South Florida’s last boom. The units are selling at an average of only 2 units per month as the prices increase. Compared to the fourth quarter of 2012, the average price […]
Former Goldman Sachs banker’s bet on housing
Robert Mullen has raised almost $1 billion to buy distressed single-family houses across the U.S. to rent. He intends to join other financial giants in taking advantage of a 29% dip in home prices since the 2006 peak and more demand for rentals for Americans who are not yet able to buy homes. Fundamental REO, […]
Landmark Naples amusement park to make way for car dealership
King Richard’s Family Fun Park, a landmark amusement park at 6780 Airport-Pulling Road, was sold by its owners planning to covert the place into a car dealership establishment. For the price of $5 million, the 21 year-old 1970s-style fun park, will now give way to Tamiami Hyundai dealership and expected to open next year.
Demand for South Florida property shrinks inventory and drives up prices
From rich to low-income,waterfront properties are bringing up sales prices in South Florida as inventory declines. Having distressed propertiesin particular, the rise in Miami-area sales prices accords with a severe decline in inventory, which dropped 24.7% since the same period a year ago. South Florida’s 37.8% share of the U.S. distressed property market is at […]