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 […]
Category Archives: Luxury Condos
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 […]
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 […]
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 […]
Palm Beach home prices soar on estate sales
Prices of Palm Beach single-family homes soared over the past year, headed by a blast of luxury sellers looking to unload properties ahead of changes to the federal tax code. Prices averaged $5.03 million in the 6 months ending in March, a 78% gain over the $2.83 million average in the same period a year […]
Resale of One Thousand Ocean residence nets $5.8M
In Boca Raton’sOne Thousand Ocean, a unit at has sold to a secret buyer for $5.8 million. For a home re-sold,it netted the most expensive resale value at the LXR Luxury Resorts-developed project in less than 190 days.
Edition condo sells for $6M
The Edition, a 26-unit John Pawson-designed combination condo-hotel, is scheduled to open in 2014. The project highlights 26 condo units ranging from one-to-four bedrooms, on the top two floors of a 250-room hotel. $6 million was the prize of a 2,000-square-foot two-bedroom condominium in The Edition. The Edition launched sales in January. Last month, Coldwell […]
Coral Gables home sells at discount to hotel developer KarimAlibhai
A magnificent seaside estate in Coral Gables has been sold for $11.5 million to KarimAlibhai of GencomGrou. This makes it the most expensive single-family home sale in the Miami-Dade Countyyear-to-date. Alibhai may have gotten quite a discount although the sale includes a big amount. The former owners spent around $17 million building the home. They […]
One Thousand Ocean closes $8.7M penthouse deal
An international buyer known as “the Beach” had purchased one of One Thousand Ocean penthouses for $8.7 million or almost $1,540 per sq. ft. This is indeed the highest per square-foot rate in the building. The penthouse features a private elevator lobby, separate glass-enclosed bonus room, floor-to-ceiling windows, private three-car garage, and a private pool-deck […]