I knew this was a really good year, but it wasn’t until I started to pull the stats that I realized HOW good a year it’s been – and continues to be.  We regularly track nine condos in South Beach’s South of Fifth (SoFi) neighborhood for a few reasons:

• Location
• Types of buildings
• Buyer profile

These to me are the most important factors for really gauging the luxury condo market here in Miami Beach.

South Beach-South of Fifth Condos We Track

• Apogee South Beach
• Continuum South Tower
• Continuum North Tower
• ICON South Beach
• Murano at Portofino
• Murano Grande
• Portofino Tower
• South Pointe Tower
• Yacht Club at Portofino

“I Have a Friend, and He Told Me…”

I’ve had many (oodles) clients during the last few years who wanted “deals.”  Of course, because I do these stats regularly, I know the numbers in my sleep.  (For the record, I’ve encouraged them ALL to pull the trigger.)  I’ve had to explain, ad nauseam, that Miami proper is NOT Miami Beach/South Beach.  I would liken Miami proper to Los Angeles and the Miami Beach/South Beach luxury condo market to, say, Beverly Hills.

You Want a “Deal?” It May Be Too Late.

Some bought, some didn’t.  It was ALWAYS their choice.  I must admit, I do get a certain sense of satisfaction knowing that my clients are making smart moves.

Okay… on to the stats.

Number of Miami Beach/South Beach Condos Sold

• 2008: 153
• 2009: 129
• 2010: 149
• 2011: 128 thru June 30

A few notes on the graph above.  The Apogee Penthouse closed in Q2 for $11.5M.  I thought it was a very unremarkable price for the property, but I’ll leave it at that.  Apogee South Beach tends to sell in waves.  One wave was May-July of 2010.  The last wave started in March 2011.  The current all-time high PPSF sold is Apogee unit #1404 at $1,769.  I’m particularly proud of this because #1404 was my listing.  The penthouse sold for $1,678/SF.  Ahem.

Continuum South has really impressed this year with 17 sales, and unit #3603/04 traded for $10.576M for a PPSF of $1,643!

Well, it’s clear that we are on track to get back to pre-2008 numbers.  Madoff and that whole economic “bizness” affected SoFi, and Miami Beach luxury real estate in general, more than that “other” stuff (sub-prime loans, jobs losses, etc.).

The Miami Beach/South Beach real estate market is a cash market.  There were a few peeps who had to do a short sale or foreclosure, but those deals were the exception, not the rule.  I would venture to guess that 80% of the 2,000+ units in this index were purchased with cash. (I’m so not doing THAT research.)

Most Expensive Condo for Sale in Miami Beach

• 50 S. Pointe Drive, PH 1, South Beach-South of Fifth (Continuum North)

Average Days on Market [DOM]

2008: 148

2009: 188

2010: 193

2011: 161 thru June 30th

Wow. Wow. Wow.  A market is considered “normal” when approximately 10% of its total inventory is available for sale at any given time.  It is definitely a sellers’ market.  Continuum North has fairly substantial inventory available because the developer held back and dumped about 40 units on the market at one time.  Although it seems like there are plenty of units left in this condo — the oceanside of the building is basically sold out.  Now, let’s take a look at available units in the rest of the South of Fifth buildings:  all hover around 5% of inventory.  That’s nothing.

Apogee is clearly the most expensive condominium in South Florida on a PPSF basis.  In six months, the average PPSF rose from $1,303 to $1,659.  All buildings are enjoying a nice increase in PPSF from 2010′s numbers.  I’ll end my post with one little nugget: low inventory and high demand only mean ONE thing.  Draw your own conclusions.

Related Reading:

• Nearly Three Years Later, Apogee South Beach Penthouse Sells for About Half Its Original List Price
• Miami Beach Real Estate: 2010 Condo Market Index
• Miami Beach Real Estate: A Six-Year Retrospective of the Miami Beach Condo Market
• Miami Beach Real Estate Statistics:  Distressed Properties & Diana Olick

Search Miami Beach Condos Here

-

Number of condo sales:

• 2010: 149
• 2009: 129
• 2008: 153

Luxury Condo Statistics for Condos in the SoFi Neighborhood of South Beach

Days of Market [DOM] was 193 for the nine condos in the index.  In 2009:  188;  2008:  148.  2010 was a pretty bland year.  The number of sales and $/psf  is pretty stable.

I’m going to go out on a limb and rate these condos as “healthy.”  A “normal” market is considered to be approximately 10% of the total number of units in the condo could be on the market for sale at any given time.  Continuum North has higher inventory because the developer put approximately 40 units on the market during 2010.  Currently the developer owns about 30 units which are all rented.  Portofino Tower has been the poor performer for a few reasons:

• It’s the oldest of the “newer” luxury buildings and a tad dated
• It is not on the ocean or bay
• The buyer profile for a SoFi condo wants new and chic.  They are not necessarily looking for “deals”

With all that being said, I think Portofino is the BEST value to be in this expensive neighborhood.  Portofino is known for their excellent floor plans and views.  Financially speaking, the building runs like a top and maintenance is about $.70 PSF (about half of what the other condos in the neighborhood charge) and has never, to my knowledge, had a special assessment.

Ok.  Apogee South Beach continues to be the BMOC with average $/PSF of $1303.  Continuum North comes in 2nd at $1009 PSF.   Here is a quick and dirty of 2009 vs 2010:

Related Reading:

• Miami Beach Real Estate:  2009 South Beach Condo Market Index
• Miami Beach Real Estate:  2008 South Beach Condo Market Index
• A Six-Year Retrospective of the Miami Beach Condo Market

Search Miami Beach real estate here

_

Luxury real estate statistics for condos in the SoFi neighborhood of South Beach

It’s very clear that the days on market [DOM] for all the condominiums has increased.  2009: 188; 2008: 148.

Toward the end of 2009, Miami Beach condo sellers started to hear what the market was telling them.  Many reduced prices and real estate sales really picked up toward the end of the year.

SoFi Condos–Some insight

• This was probably the LEAST affected real estate sector of any market in the United States.
• A vast majority of these luxury South Beach condos were purchased cash
• Most of these condos are 3rd, 4th, & 5th homes.
• A very, very small amount of distress sales.  The majority of distress sales/foreclosures were a result of mortgage fraud.

The amount of condos on the market 2009 vs. 2008 has decreased in condominiums.  The general rule of thumb is that “healthy amount” ( approximately 10% of the total number of units in the condo) could be on the market for sale  at a time.

Apogee clearly wins, again.  But Apogee is down about $100 psf, or 7.8%, on average from 2008.  ICON South Beach had the biggest decrease, 27.7%, from 2008.  Portofino Tower had the third largest decrease with a 26.3% drop in $ psf from 2008.  Here are the rest of the results:

Miami Beach Luxury Statistics for South Beach Condos

Check out the nifty little graph below to see how the market has performed over the last three years.   I’d like to say that there was something really interesting to point out–but that’s not the case.  There are some ups and downs, but nothing to raise an eyebrow. Weathering the storm quite well.

South Beach Deals

Continuum North, 50 S. Pointe Drive, #3402, Miami Beach, FL 33139. This condo has three exposures: east, south and west. It priced very, very well at $3.6M.

Continue Browsing Miami Beach Luxury Real Estate Here

Related Reading

• Miami Beach Real Estate:  2008 South Beach Condo Market Index

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.

Between May and September six condominiums sold at Apogee South Beach representing over $30M worth of real estate.  In that same time period, over $35M in sales were closed at Continuum North.

Miami Beach Real Estate Heats Up Just as the Season Ends

Average Days on Market 1/1/2009 – 9/30/2009

I don’t feel that the days on market stats are all that reliable for a few reasons:

• it can’t take into account how accurately a property is priced
• it can’t judge how motivated a seller is
• Days on Market, or DOM, is easily manipulated by agents/brokers

Even in the recent market, I still see some properties sell within days of being listed.

An industry benchmark is that approximately 10% of the total amount of units should be on the market at one time.  The exceptions are for newly-opened condos because typically 30-40% of the units come back to market from investors/flippers when the building opens; and it usually takes about 2+ years for the market to absorb that extra inventory.

The building that’s been affected the most (and therefore has the best deals) is Murano Grande.  A high amount of investors purchased in the building and it was hit hard by mortgage fraud which really played havoc with the real estate values.  Of late, the distress sales/foreclosures are selling and the Q4 stats should really begin to head in the right direction.  I’ve sold a couple of units in Murano Grande lately and the condo association is in good shape and handling the hiccups as well as could be expected.

South Beach Condos Sales Prices

I’ve compared the numbers from the last quarter and to last year, and there is really not much to report.  Some are up a little, some are down a little.  I can’t spot any specific trends.  All-in-all, not so bad.

Best Buys in South Beach Condos

• Apogee South Beach- 800 S. Pointe Drive #602, Miami Beach.  This one’s gonna be a great deal, trust me.
• Continuum North-50 S. Pointe Drive #601, Miami Beach.  An oceanfront one-bedroom with peek-a-boo oceanviews.
• Murano Grande:  400 Alton Road #2007, Miami Beach.  Approx. 1700 sf.  Great floor plan.  Short sale.
• ICON South Beach:  450 Alton Road #3003, Miami Beach. 3 bedroom on high floor.  Spectacular southern exposure with expansive east and west views.  This one should be the next to sell.

Additional Resources

• Check out statistics for all Miami Beach condos
• Browse Miami Beach real estate

So now we get to pin ’08 against ’09–and REALLY get a good look at where these ultra-luxury condo prices in Miami Beach are headed.

Miami Beach Condo Sales Thru 6/30/2009

2008 Miami Beach Condos Sales thru 6/30/2008

• Apogee: 4
• Continuum South: 13
• Continuum North: 4
• ICON South Beach: 19
• Murano at Portofino: 4
• Murano Grande: 13
• Portofino: 7
• South Pointe Tower: 7
• Yacht Club at Portofino: 17

Average Days of Market 1/1/2009 – 6/30/2009

• Apogee: 58
• Continuum South: 187
• Continuum North: 101
• ICON South Beach: 201
• Murano at Portofino: 175
• Murano Grande: 150
• Portofino: 220
• South Pointe Tower: 126
• Yacht Club at Portofino: 155

2008 Percent of Total Miami Beach Condos on the Market

• Apogee: 19
• Continuum South: 12
• Continuum North: 21
• ICON South Beach: 12
• Murano at Portofino: 10
• Murano Grande: 19
• Portofino: 12
• South Pointe Tower: 7
• Yacht Club at Portofino: 8

2008 Average $/Square Foot – List Price/Sale Price

• Apogee: $1,340.23/$1,239.02
• Continuum South: $1,187.76/$1,078.11
• Continuum North: $1,121.08/$1,073.63
• ICON South Beach: $811.63/$733.72
• Murano at Portofino: $1,057.21/$865.09
• Murano Grande: $780.57/$674.19
• Portofino: $736.53/$660.82
• South Pointe Tower: $697.95/$616.89
• Yacht Club at Portofino: $604.35/$552.91

What Does This Mean to You?

In short, the number of sales have fallen by 39% Y-o-Y; and average $/psf has fallen 20% Y-o-Y, to $735 psf.

Data is based on information from the Southeast Florida Regional (SEFR) MLS or from the associations participating in the SEFR: for the period of 1/1/2009-6/30/2009

The last month has given me some ideas on how to present this info AND add value.  About four or so years ago, I read an article about NYC real estate in which Pam Liebman, CEO of the Corcoran Group, passed on a bit of wisdom which, at the time, I had no idea that I would be referring back to it so much for insight:

“The Best Neighborhoods Are the Last To Go Down, and The First To Come Up”

Now while an uptick in prices are far from a reality, it gives the following numbers the perspective I feel I need to include when I do stats.  After all, this is MY business.  I know my business better than anyone out there, so who better than me to add insight, albeit borrowed from a very smart cookie, to the stats.

South Beach Condos:  It’s Not Pretty, and It’s Okay

The only way to sell ANY real estate in this market is by showing value.   That’s is how I am able to continue to help my clients sell.  No longer is pricing your Miami Beach real estate using the latest comps good enough.  To show value, a seller must be lower, sometimes MUCH lower than the recent comps, to attract any attention.

As I’ve said before, a good rule of thumb is that 10% of the units in each condo represents a healthy market.  Obviously, we are not in a healthy market.  Apogee South Beach and the new Continuum North get “kind of” a free pass because they finished at a really bad time, and investors (flippers/speculators) list those units for sale at the same time (at opening).  Except for Yacht Club and South Pointe Tower, all of the other seven buildings are starting to choke on their own inventory.

Here is how the sold $psf is shaping up so far:                     

For the first time since I’ve been doing these stats, the actual $psf is decreasing for luxury condos in this South Beach neighborhood, and that is a good thing.

Okay Kevin, Why Is It a Good Thing?

Well, the South of Fifth (SoFi) neighborhood has been relatively unscathed from Miami’s condo drama.  Our market changed in April, 2005.  So for about four years Miami Beach real estate pressed on.  I was always amazed when doing these stats, given the stories, stats, and predictions for Miami real estate, that this sector of the market defied EVERY story, report, or analysis.

This neighborhood was never affected by the sub-prime stuff.  I would venture a guess that 80% of the condo sales in these nine buildings were purchased in cash.  Mortgage fraud affected one of the buildings in particular in the neighborhood –which lead to many foreclosures. 

Why Location is So Important

The only way to clean up this real estate mess is a return to fundamentals.  Real estate is governed by the law and supply and demand and location, location, location.

South Beach was the catalyst for Miami’s renaissance.  South Beach is now so big it is a brand.  When people talk about “Miami” the really mean “South Beach.” 

So here’s my prediction:  South Beach condo prices are heading down, down, down.  In fact, I’m privvy to a few pending sales that will be very shocking to many, and that’s good; because if what Pam Liebman said is correct, then we very well may be at the end of our tough time.

Want a Deal on a Miami Beach Condo?

Here’s a great little feature you can find on my site www.kevintomlinson.com. If you are looking for a foreclosure or short sale, I’ve made it very easy to find them:

Click on any of these searches to find bank-owned Miami Beach condos, or short sales.  You can also check the new listings and recent condo sales.

Also you can search for distressed property by building.  In the top left corner of the image above, you can select any building then click on the ”View Listings” button in the middle of the page.

All distressed condos will have a “S” if it is a short sale or “F” if it is bank owned.  Click here to check it out.

In my last post on real estate statistics for Miami Beach condos in South Beach, A LOT was revealed by comparing 2007 to 2008 data for condos in the South of 5th / SoFi neighborhood. And now, here’s more information from the Southeast Florida Regional MLS that indicates this area has performed amazingly, especially considering the market.

In the stats below, you’ll notice two sets of numbers for 2008. The first set shows the year-over-year increase in sales and condo transactions for the same eight SoFi properties. The second set reflects the addition of two buildings opened in 2008 (Continuum North and Apogee South Beach) that weren’t part of the 07 South Beach-South of 5th condo index. That index is now comprised of ten luxury, waterfront high-rises.

I believe that, even without the two new buildings, a high percentage of 2008 buyers would likely have purchased a condo in one of the other SoFi buildings. With this in mind, I consider the second set of stats a truer reflection of the overall activity last year in this South Beach neighborhood.

2007-2008 Sales Volume for South Beach-SoFi Condos

• 2007: $171,743,350 – eight South of 5th condos
• 2008: $177,844,388 – same eight condos / 3.6% increase
• 2008: $243,668,138 - two new condos makes ten / 41.9% increase

2007-2008 Number of Transactions for South Beach-SoFi Condos

• 2007: 106 – eight South of 5th condos
• 2008: 131 – same eight condos / 23.6% increase
• 2008: 153 - ten condos / 44.3% increase

The increase in sales and number of units sold for the same eight South of 5th condos is surprising. But with the addition of Continuum North and Apogee South Beach, the respective 41.9% and 44.3% leap in total SoFi real estate activity is a big shock, at least to me.

2007-2008 Average Price Per Unit for a South Beach-SoFi Condo

• 2007: $1,620,000
• 2008: $1,582,261 / 2.3% decrease

It isn’t a surprise that the average price per unit or dollar per square foot went down, but the fact that it decreased 2.3% could stun many – even some local agents. Miami Beach real estate has suffered like every other market, but South Beach’s SoFi neighborhood has weathered the storm handily. I’m unsure, though, about what may be on the horizon as the current supply clearly outweighs the demand.

SoFi’s success has not been random, but to avoid fueling the high winds of the low economy, it’s better to stick to facts than emotions.

I’ve comprehensively tracked condo sales in Miami Beach’s SoFi (South of 5th) neighborhood, which includes:  Apogee South Beach, Continuum North, Continuum South, Portofino Tower, South Pointe Tower, Murano at Portofino, Yacht Club, Murano Grande, and ICON South Beach, since I began this blog in 2007. The data in this post is based on info from the Southeast Florida Regional (SEFR) MLS and from the associations participating in the SEFR for the period 1/1/2008 through 12/31/2008.

If we were to believe EVERY media story, our perception would be one of complete devastation.  Let’s look at the “devastation” for 2008.  Note that there hasn’t been much change since my last market stats post in November.

Miami Beach Condo Sellers: Are You “Chasing Down the Market?”

If you’re an owner of Miami Beach real estate and would like to sell your house or condo, this is the most important graph for you.  In a market that’s in decline, pricing your property against your competition’s list price is deadly.  Heck, at this point, pricing your property against the most recent sale(s) isn’t good enough either.

The key – and the hardest part – is to know where the market is RIGHT NOW.  This takes the help of a well-connected and informed real estate professional. Hopefully, your agent (if you have one) has great relationships with other top local agents.  In a declining market, the goal is to stay ahead of the market. To accomplish that, I rely mainly on information from transactions happening NOW that will close in one to three months.

For the graph above, the rule of thumb is that up to approximately 10% of the total number of condominiums in each building could be available for sale at any given time without concern.  It’s too early to judge Apogee South Beach and Continuum North because it’s typical for new buildings to open with a lot of inventory.  In a normal market, a building usually “rights” itself within a year or so; then the inventory is in a normal range.

Wow. Wow. Wow!  Apogee is pretty impressive.  From a stats post on 9/2007, you can see that every one of these buildings in the index has declined in $PSF, except for Continuum South.  There’s more interesting news on the way about SoFi/South of 5th – the neighborhood in South Beach that continues to defy ALL trends, but I’ll save that for my very next post.

Okay – let’s get to some eye candy.  I love to end my posts by giving you a little reward for reading all the way through:

• Portofino Tower, 300 S. Pointe Drive, PH 4306, Miami Beach, FL 33139. This apartment is stunning.  Period.  I don’t know how well it’s priced, but who cares!?

Continue Browsing Miami Beach Luxury Condos Here

Related Reading

• Chasing the Market Down – Are You Guilty? [LongBeachRealEstateHome.com]
• Strategies for Falling Real Estate Markets – Selling in a Slow Market [About.com]

Starting with this installment of South Beach condo statistics, I am adding two new buildings to the mix: Apogee South Beach and Continuum South Beach (North Tower).

Miami Beach Real Estate

Comparing these stats to my most recent stats post, it seems that ICON South Beach and Yacht Club are having a good year. Over the past year, ICON carried a large inventory and it seems that the owners have been reducing their prices more towards market value.

From the graph above,  what I see is the time on the market is definetely increasing, most notably, Murano at Portofino and Continuum (South). ICON South Beach has always been on the high side, so nothing really new there. Many sellers were caught off-guard this past season. It is common for sellers to wait through season before adjusting their prices, but, the problem with that is the activity dried up as well. So, their-in lies the problem: inventory sits creating lots of availability and little or no sales activity happens during the summer.

Above: It is accepted that 10% of the building inventory could be available for sale at any one time; the average condo inventory for all nine buildings is 13.3%. While the average of 13.3% is not alarming, Murano Grande has almost double what would be considered healthy. Additionally, Continuum North and Apogee South Beach, whose numbers are high, are typical because the buildings have recently opened, so it’s normal for a high number of units to be on the market.

If I took Continum North and Apogee South Beach out of the mix, the average would drop to 11.42%, which is very good.  From my stats post in September, 2007, the average of the original seven buildings was 12.9% 

Lots to note here. Right off the bat,  Apogee South Beach comes in at number one.  Not a surprise.  What is a surprise is that ALL of the original seven of the building’s “Sold $ PSF” have gone UP (excluding Apogee and Continuum North)!  That’s right, everyone.

What’s the Best Real Estate Buy in South Beach/South of Fifth Condos?

I would focus on Portofino Tower and Continuum North (the new one).  There is a lot of inventory at Continuum North and the owners must be starting to get a little anxious.  Please note: to be on the oceanside of Continuum North is rather pricey because all of the oceanfront units are larger.

Here is a list of what I believe are good real estate buys in each of these buildings:

Apogee South Beach- 800 S. Pointe Drive, Miami Beach, FL 33139

Unit 902 is a flow-through unit priced at $3.99M.  It is the lowest priced unit in the building and actually a good value for the height of the unit.  Next unit jumps to $4.3M

THE PENTHOUSE OF APOGEE.  $22M.  The biggest and most prestigious Penthouse ever to come to market in Miami Beach and South Beach.  This is truly one of the best pieces of real estate in, not only Miami, but possibly the world.  Three levels, over 17,000 sf of total area, elevator, rooftop palazzo with pool.  Perfect for Brad and Angelina.  Privacy and exclusivity reign supreme. [Full Disclosure:  this is my listing.] 

Continuum South- 100 S. Pointe Drive, Miami Beach, FL 33139

 1707 Direct oceanfront at Continuum South for under $1k psf.  A good buy.

2703 2/2.5 short sale. $1.55M

3402 2/2, nice high floor. $1.65M

Continuum North- 50 S. Pointe Drive, Miami Beach, FL 33139

Unit 802 is a direct oceanfront southeast corner unit priced at $2.6m

Unit 2001 is a direct oceanfront northeast corner unit priced at $2.8M

Unti 2405 is a northwest corner unit with a great open floor plan.  Very desirable line.  $2.35M

ICON South Beach- 450 Alton Road, Miami Beach, FL 33139

Unit 2410 is a 2/2 corner unit on a higher floor. $1.099M 

Murano at Portofino- 1000 S. Pointe Drive, Miami Beach, FL 33139

 Unit 1502 3/3.5.  Orignally came to market at $3.1M.  Recent comp at $2.6M.  Current price is $2.495M

Murano Grande-450 Alton Road, Miami Beach, FL 33139

 Unit 1405 2/2. $798K.  Just reduced about $200K in the last week.  Originally started over $1M.

Portofino Tower South Beach-300 South Pointe Drive, Miami Beach, FL 33139

unit 1506 2/2+den. $1.395M

South Pointe Tower- 400 S. Pointe Drive, Miami Beach, FL 33139

 Unit 1902 2/2. 1169 sf.  High floor. $699,000

Yacht Club at Portofino- 90 Alton Road, Miami Beach, FL 33139

1703 2/2. Short-sale.  Eastern exposure and ocean views.

 What I decided to do, since SO many people have asked me, was to do a three year snapshot of the market, specifically for the SoFi neighborhood in South Beach, which includes Continuum South Beach, Murano at Portofino, Murano Grande, ICON South Beach, Portofino Tower, Yacht Club at Portofino, and South Pointe Tower.  When doing this type of analysis, I really like using this neighborhood because it has a high concentration of units, which provides accurate insight into the luxury condo market activity of Miami Beach condos. 

I used one time period: January 1st-October 3^rd of three years (2005, 2006, and 2007).  It is very interesting to see how the market has progressed during the last three years.  Here is a great Miami Beach neighborhood map

The graph above represents number of sales for each building in the SoFi neighborhood.  Most would think that the number of sales would be highest in 2004–2005.  Even though 2007 is down from 2006, in ALL cases the number of sales are higher than in 2005.

This graph shows the issue for condos in general—with the exception of Continuum South Beach, the average days on market have all substantially increased from 2005.

The graph above shows a three year history of average $ p.s.f.  SOLD prices for all the condos in the South of Fifth neighborhood.  Continuum South Beach continues to climb without any fluctuations.  Overall,  each building is holding its own and the neighborhood in general continues to do well.

This graph represents the list price ($ p.s.f.) to the sold price ($ p.s.f.) for each year.  It basically tracks the list price to sale price ratio for each building for all three years.  The blue bar is the list price (in $ p.s.f.) and the green bar represents the sold price (in $ p.s.f.).  Things to note from this graph:  ICON South Beach peaked in 2006 and Continuum South Beach continues to march onward and upward. 

I have to admit I was not surprised by the numbers.  Most of what I see here only re-inforces my recommendations from my South Beach Luxury Condo Outlook 2008 post.

Miami Beach real estate, Continuum South Beach, ICON South Beach, South Beach condos, South Beach real estate, Miami condo statistics, Miami luxury condos, 33139

If you’d like to forward this post to someone you think might be interested, simply click on the “Share This” link and click “E-mail.”