Category Archives: Condo Hotels

Breaking News: Setai South Beach Condo Sale Breaks Record… AGAIN

SBCB Exclusive

Sale of a Setai Condominium breaks $PSF record for a non-penthouse unit.

Last week it happened again! Another Miami Beach real estate record was shattered. And from what I understand, yet another record transaction may go down here in the next day or two.

Setai Residences unit PH-B sold for an ASTOUNDING $3,411/SF. Why is this astounding? Well, for one thing, even though this unit has a PH address, it isn’t really a penthouse. It doesn’t have a large outdoor terrace or rooftop space, or outdoor pool or jacuzzi, which usually defines a true penthouse.

This residence is special, though, because it’s one of only three condos of its kind in Setai South Beach: the “09” line on floors 37-39. The 2,521 SF, three-bedroom condos are rare because they encompass the whole front of the building. The double-corner unit has views to the south, east and north.

The interior was upgraded from the standard developer finishes, but it’s the real estate (or lack thereof) that makes this luxury Miami Beach condo so valuable that it didn’t even hit the open market. Yup! Three offers, just like that.

Setai South Beach Kevin Tomlinson

The seller purchased the property in July 2012 for $6.55M and flipped the unit to Andrew Rosen, a co-owner of the Theory clothing line, for $8.6M – thus making a $2M profit in LESS than one year. BAM.

Setai South Beach, Miami Beach         Setai South Beach, Miami Beach real estate

Setai PH-C (3709) sold last March to NYC developer Mr. Lefrak for $7.2M. Lefrak is now in partnership with Starwood Capital to renovate and re-market the old Gansevoort Hotel into a “green” concept condo-hotel, 1 Hotel & Residences South Beach, located two blocks north at 2399 Collins Avenue. Vladislov Doronin, Naomi Campbell’s Russian boyfriend, who now lives on Star Island, once owned Setai PH-A (3909).

Miami Beach’s Top Luxury Condo Sales

Most of them are in Setai South Beach or W South Beach:

CONDOMINIUM SALES PRICE SALES $PSF SOLD DATE
Setai South Beach Villa B $27M $3,799 1/14/2013
Setai South Beach Villa A $21.5M $3,463 12/8/2011
Setai South Beach PH-B $8.6M $3,411 5/21/2013
Continuum South PH 3 $15.75M $3,379 6/1/2012
Setai South Beach #2308 $7.79M $3,045 3/5/2013
W South Beach #1928 $8.3M $2,975 2/16/2012
Setai South Beach PH-C $7.2M $2,856 5/14/2012
Setai South Beach #2408 $3.3M $2,892 7/5/2012
Setai South Beach #3108 $3.26M $2,857 8/6/2012
W South Beach #1828 $3.5M $2,825 11/1/2012
ICON South Beach PH-2 $20.96M $2,623 1/1/2013

The developer of The Miami Beach EDITION, a new condo-hotel and residence project from uber-hotelier Ian Schrager, has reported a sale of two combined penthouses for $34M or $3,800/SF.

Related Reading:

                   Miami and Tampa had annual gains of 10.7 percent and 11.8 percent

                   Miami-Dade home prices rose 23.7 percent, condos up 17.1 percent

 

 

 

 

Setai South Beach Penthouse Sells for Record-Setting $21.5M. Breaks Multiple Miami Beach Real Estate Records

Previously described as the “mack daddy” of Penthouses in Miami Beach- Penthouse ‘A’ at The Setai South Beach closed yesterday for a record-setting $21.5M and brokered by Eloy Carmenate of ONE Sotheby’s International Realty.

Setai South Beach penthouse, Miami Beach

Originally listed for $27M in April of 2010, this 5,803 sf residence was owned by Netscape Founder Jim Clark.  Clark originally purchased the unit in 2004 in “decorator ready” condition (raw) for $9,000,000.  The Penthouse has 4 bedroom and 4 baths.  The buyer is not a celebrity and said to be a private businessperson

Two records were shattered not only in South Florida but all the way up to New York City.  To my knowledge, there has not been a single condo unit South of New York City that has traded for over $16,500,000 ($2300 psf) which was in Apogee South Beach ‘PH C’ ; additionally, I’m certain that no unit ever has obtained in excess of $3700 psf.

Setai PH ‘A’ sits atop of the 40-story world-famous Setai Resort known for its luxury and celebrity clientele.  The Setai South Beach is serviced by Singapore-based, five star hotel management company GHM Hotels.  There is also a Setai outpost in New York City.

More pictures of the Record Breaking Miami Beach Real Estate Sale at Setai South Beach

The last PH that sold in Setai South Beach was a lower PH, which sold in 2010 for $15M.  There has been intense activity in the ultra-high end homes and condos here in Miami Beach this year.  Apogee PH ‘A’ sold for what I believe was an unremarkable number of $11.5M, earlier in the year.  So far this year there have been four properties that have sold at or about $20M in Miami Beach:

  • 1736 W. 28 -Sold for $19.8M in July*
  • 4570 & 4580 North Bay Road– Sold for $20 in September*
  • 13 Star Island Drive- Sold for $25.5M in April
  • 101 20th Street PH ‘A’ -Sold for $21.5M in December*

*denotes ONE Sotheby’s International Realty’s involvement in sale

Related Reading:

 

 

Miami Beach Real Estate: Canyon Ranch Living Is Open – It Really, Really Is! The Restaurant Tour

I remember selling Canyon Ranch Living -Miami Beach condos–oh man, at least five years ago.  I sold them before they had a sales office– at the developer’s office on 41st Street in Miami Beach.  It seems like it was a lifetime ago. 

Today, I had the opportunity to take a tour of the Canyon Ranch Living Hotel and Restaurant.  I was treated to a lunch with the developer, not a buffet-thing for agents, but a real impromptu lunch at the Canyon Ranch Living Restaurant.  The hotel is now in it’s soft opening phase. 

After healthy-living, Canyon Ranch is known for it’s food.  I wrote a post for the opening of DeVito’s Restaurant in South Beach and I had some disappointed readers annoyed that I didn’t “photograph” the menu.  It seems a little cheesy to me, but here it is…..

Canyon Ranch Living Miami Beach-Lunch Menu

The numbers to the side of each menu selection display the calorie/carb/fat counts for each. 

Now that the “menu issue” is off my “plate,” follow me right through my lunch today at Canyon Ranch.

Canyon Ranch Living Miami Beach-Lobby

As I entered the lobby, the paparazzi were frightening.  Flash bulbs.  “Kevin, over here!”  “How are you today, Kevin?”  “Can I get a smile for the New York Times, Kevin?”  Stressful.  Now I know what they all go through.  Oh, and the lobby is pretty hot, too!

Canyoon Ranch Living Miami Beach- Lobby

The hotel is located in the center or Carillon Tower.  The Carillon was the hotel in it’s day (50’s) and a stellar example of Mimo (Miami modern) architecture.  A few people I know, including Rose Harris, babble about getting “it” for the first time at the Carillon.  I don’t know what she “got”, but I hope it is not communicable.  I’m not a big fan of looking back and re-hashing the olden days….so maybe someone can comment here more about “the day.”  Canyon Ranch Living-Miami Beach 2008:  think more Lindsay post-rehab and less Frank Sinatra (was there rehab in the “day”?).  

Canyon Ranch Living Miami Beach- The Restaurant

The restaurant is located just off the lobby and, as expected, both have a very earthy, and very high-end, feeling.  Though not open today, the restaurant has a very large outdoor seating area, and as far as I know, Canyon Ranch will have the only restaurant with oceanfront dining.  The Ritz-Carlton in South Beach has a very nice restaurant on the boardwalk, but Canyon’s restaurant is ON the ocean and comes complete with climate-control (that’s my fancy way of saying dining alfresco at Canyon is air-conditioned).  What recession.

Kevin's mixed greens salad at Canyon Ranch

 

 

 

 

 

 

 

 

 

  

My delicious mixed-greens salad, and in the distance, a chicken appetizer the Dieter raves about.

Lunch at Canyon Ranch

I know my knife is crooked, it bothers me, too.  I’m not a fan of pulled pork ANYTHING, but today I ventured out of my comfort zone and ordered the pulled CHICKEN sandwich.  I figured that this would be a safe foray into the “pulled” arena.  If you like spicy, you’ll love this.  My sandwich was on a great whole-wheat/multi-grain-type bun.  Dieter and Phil had the churrasco.  In front of my plate were the artichoke french fries.  That’s right.  The food was perfect and I loved the size of the portions.  I didn’t feel like a big, fat cow after eating.  After lunch we had a “home-made” soda.  It’s delicious because, the juice of choice, I had passion-fruit, is poured right into a sparkling soda.

Canyon Ranch Living

This is the lounge area between the lobby and the restaurant.  This is the only Canyon Ranch that serves alcohol (organic, I’m told).

There is so much to see at Canyon Ranch, I couldn’t possibly fit it in all into one post.  Later in the week, I’m getting a tour of the hotel rooms and early next week, a tour OF THE SPA.

Browse Canyon Ranch Living real estate here

 

South Beach Real Estate News: Expansion of The Setai Condo-Hotel to San Diego in Jeopardy

The Union Tribune is reporting that a proposed joint venture between a local San Diego developer and New York’s Setai Group to create a west coast outpost of the prestigious, The Setai South Beach, is now uncertain.

In November, the Setai Group sued 5th Avenue Partners and its principal, Orange County developer Rebeil, alleging that the San Diego project is being falsely promoted as a Setai property under the name Setai San Diego.

5th Avenue formally announced that the Setai Group would operate the Diegan as the Setai San Diego in an Oct. 18 news release, claiming that the San Diego property would be the first “five-star luxury condominium-hotel in the city as the result of a groundbreaking east coast-west coast partnership considered to be the first of its kind in the country.”

Within hours, the Setai Group’s attorney informed 5th Avenue that talks were off and “improperly repudiated” the letter of intent, according to the 5th Avenue countersuit.

Burton said there was nothing improper about Setai pulling the plug. Final terms were never agreed on, so the proposed partnership never materialized, he said.

The Setai Group operates The Setai Resorts & Residences South Beach and the Setai NYC.

Translating the Setai to NYC [Real Deal]

Miami Beach Condos: One Bal Harbour Condominium- A First Look

One Bal Harbour is Bal Harbour’s newest condominium since 2004.  One Bal Harbour started closings on Thursday and here is a first look in and around the condominium.

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One Bal Harbour Miami Condos

This is the lobby for the condominium of One Bal Harbour.  It is very traditional.

One Bal Harbour Miami Condos

Here we have the oceanfront social room.  The room resonates with sophistication.

One Bal Harbour Miami Condos

One Bal Harbour offers a theater for building residents which is equipped with surround sound.

One Bal Harbour Miami Condos

An elegant bar within the oceanfront social room.

One Bal Harbour Miami Condos

Oceanfront pool for residents of One Bal Harbour.

One Bal Harbour Miami Condos

One Bal Harbour’s location is arguably one of the two best locations in Miami, at 10295 Collins Avenue in Bal Harbour, Florida.  The condominium has 185 residences and is combined with a five-star-quality Regent Bal Harbour condo-hotel which has 124 units. 

One Bal Harbour Miami Condos

This is a great example of why One Bal Harbour’s location is considered so priveleged.  The north side of the building overlooks the Haulover Inlet which provides breathtaking, expansive and unobstructed northern views. By the way, this photo WAS NOT provided by the developer and is not a rendering.  I took this photo from the 25th floor of the condominium.

The developer of One Bal Harbour Condominium and The Regent Bal Harbour condo-hotel is WCI Communities.

One Bal Harbour provides the amenities of a 5–star hotel to its owners including fine dining and a 10,000 s.f. world-class spa managed by the famous L’ Institut de Guerlain Paris offering massage, skin treatments, hand and foot therapies as well as nutritional and anti-aging treatments (woo hoo!). 

For more information on One Bal Harbour Condominiums click here

One Bal Harbour, Miami Condos, Miami Beach real estate, Miami Beach condos

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Canyon Ranch Living Miami Beach Update-North Tower Condos

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Canyon Ranch Living is a three-phase project that is located on the ocean at 6801 Collins Avenue in Miami Beach. This perfect address encompasses more than 1,000 linear feet of oceanfront and is just minutes north of world-famous South Beach and minutes south of the Bal Harbour Shops.

Phase one is the South Tower (condo residences) and the Center Tower, also called the Carillon Tower (condo-hotel units and condo residences). The second phase will be the North Tower, and the third phase will be the historic Golden Sands Hotel property at 6901 Collins Avenue (no details yet on how the Golden Sands will fit into the project). The first two phases of the project will have 581 units total:

  • 143 in the South Tower (phase one)
  • 151 condo-hotel units in the center Carillon building (phase one) on floors 2–10; floors 10–16 in Carillon Tower are condominiums
  • 80 condo units in the center Carillon building on floors 11–16
  • 207 condos in the North Tower (phase two), including seven direct oceanfront beach houses

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The developer is expecting the T.C.O. (temporary certificate of occupancy) for the South Tower any day. Closings will begin ten days after a T.C.O. is obtained. Closings for the Center Tower (Carillon) should begin 30 to 60 days after the South Tower, and the Canyon Ranch Living Miami Beach Resort should open in the first part of 2008.

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Restaurants at Canyon Ranch Living Miami Beach

Cabana Grill – Offers healthy meals served in the pool area exclusively for Canyon Ranch guests and residents.

Café Vida – Casual dining and tasting room offering creative cuisine, fine wines, and to-go items.

Juice Bar – Here you can sample locally-fresh and seasonal juices and smoothies in the ocean-view Juice Bar located on the 4th floor Spa Lobby.

The Restaurant at Canyon Ranch – A fine-dining oceanfront restaurant with indoor & outdoor seating will offer award-winning and nutritionally-balanced gourmet cuisine and will be open to the public. Open for breakfast, lunch, and dinner daily, the restaurant sits adjacent to the hotel lobby and borders the beach. The terrace features dining with superb ocean views. Sensual and experiential dining venues include an exhibition kitchen, tapas area and private dining for up to 40 guests – all serving signature, nutritious Canyon Ranch gourmet cuisine. Lobby level.

The food at the Canyon Ranch Restaurants will be organic, seasonal, delicious, and healthy!

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Amenities for Hotel Guests & Residents of Canyon Ranch Living

  • 73,000 sq. ft. spa for residents and hotel guests only
  • 22 treatment rooms with nine different “experiences”
  • The Health & Healing Center will have full-time physicians and health practitioners offering integrative medical consultations and will focus on a preventative approach to health
  • Complimentary fitness classes
  • Four pools within the Canyon Ranch Living Miami Beach resort, including an adults-only pool above the spa
  • Additional 7,000 sq. ft. fitness area in the North Tower
  • Two-story indoor rock climbing wall with ocean view

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Condos for Sale in the Canyon Ranch Living Miami Beach North Tower

It is no secret that I am a huge fan of this project. Here’s why: Canyon Ranch Living will NOT be just another condominium; it will be a destination. Guests will come specifically for the Canyon Ranch experience. They want to de-stress, unwind, get healthy, meet new people, and eat beautifully prepared, organic healthy meals.

Even in today’s real estate market, Canyon Ranch Living Miami Beach is doing exceedingly well. The first phase of the project, the South and Center Towers, has been sold-out for two years or more. With the introduction of the North Tower, sales continue to be brisk because Canyon Ranch is selling more than real estate-they are selling lifestyle, wellness, and well-being.

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North Tower Beach House Availability

  • Direct oceanfront southeast corner, two-story beach house, 3 bedroom/3.5 + den, 3,555 sq. ft., $4,950,000
  • Direct oceanfront 2 bedroom/2.5 + den, two-story beach house, 2,450 sq. ft., $3,500,000

North Tower Condo Residences Availability

  • Direct oceanfront, 18th floor 2/2, 1,290 sq. ft., from $1,548,000
  • Flow-through 2/2.5, 2,050 sq. ft., direct ocean and bay views, from $2,300,000
  • North Tower condo units facing west, 22nd floor 2/2, 1,280 sq. ft., from $1,400,000
  • Flow-through, wraparound corner unit, 3/2.5, 2,150 sq. ft. with east, north and western exposures, from $2,750,000

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The North Tower is scheduled for completion in early 2008.

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These are the beach houses for the South Tower at Canyon Ranch Living.

Click here for condo residences and condo-hotel re-sales in the South and Center Towers.

Canyon Ranch Living Miami Beach condos and condo-hotels and real estate

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