2009 luxury real estate statistics for condos in the SoFi neighborhood of South Beach. The condo index is comprised of nine waterfront high-rise condos: Apogee South Beach, Continuum South Beach: North & South, Portofino Tower, South Pointe Tower, Murano at Portofino, Yacht Club, Murano Grande and ICON South Beach. There were 129 sales in the condo index in 2009 vs. 153 in 2008, a drop of 16%.
This has been a very interesting year. I’ve said before that the SoFi neighborhood in South Beach has weathered the real estate storm like a champ. Our busiest time of the year begins with Art Basel at the beginning of December and continues well into June.
For the previous few years, the week of Art Basel has been incredible. Last year was the year of NO action; and it only got worse from there. While inventory languished on the market for the first half of the year, sellers seemed to hear the message. List prices dropped, and dropped fast.
Since starting this blog which, which seems like it’s been going on and on for years now, I was really excited to find out that I did a stats post for the EXACT same time period last year. When doing stats, my goal is to not just give the numbers but to show what they [...]
The Penthouse at Continuum South Beach, located at 100 S. Pointe Drive, once listed for $25M has sold for $9.9M.
Back in March, a penthouse at Il Villaggio in South Beach, originally listed at over $18.9M, sold for $7M.
Penthouse 1 at Continuum was owned by Howard and Lillian Steinberg. The penthouse, purchased in 2003 for $7M, has five bedrooms, 7.5 bathrooms, [...]
Providing real estate stats for South Beach real estate, as you could guess, is not all that exciting. I’ve had that stats for about a month now but haven’t posted them because I feel that providing the raw data WITHOUT insight is offering no service to my readers and my clients.
The last month has given [...]
Miami Beach Real Estate: Penthouse Report-Il Villaggio PH Sells $10M Under Original List Price
It looks as if even the mighty can fall. Things aren’t going so well on Fisher Island; nor for Miami Beach luxury real estate. In the last few months there has been some pretty interesting activity in the ultra, ultra high-end. In [...]
