South Beach Condos Blog

6410 North Bay Road, Miami Beach, FL 33141

While perusing the residential real estate inventory on Miami Beach, I came across this fantastic home which was reduced by $1M today!  Located on very prestigious upper North Bay Road, and home to celebrities like Ricky Martin, Calvin Klein, and Matt Damon, this estate has five bedrooms, 5,000 interior sq. ft., and a 24,000 sq. ft. lot according to Elliman Florida, the listing broker.

For boaters, the property has 100 linear feet of deep-water frontage with new dock.

Built in 1949, this home exudes old Hollywood glamour and features a traditional layout, updated kitchen, and spectacular wide-bay views.

$4,995,000

Sound nice?  It is.

Click here for more info and pictures on 6410 North Bay Road, Miami Beach

To view all waterfront properties available for sale on North Bay Road, click here

I’ve been thinking about the idea of having a regular post that highlights what I feel are really great real estate buys here in Miami Beach.  There is no exact science that goes into selecting them, just my intimate knowledge of each building and their respective values.

Miami Beach Condo Buys

ICON South Beach:  450 Alton Road #1601.  This is a three bedroom corner unit with southwest exposure.  It was reduced to $1.59M from $1.9M on 1.24.08.

Canyon Ranch Living Miami Beach Condo Hotel:  6801 Collins Avenue #C 404.  This direct oceanfront condo-hotel unit at $875K is a steal.  Most of the one bedroom condo-hotels NOT on the ocean are in this price range.

Green Diamond:  4775 Collins Avenue #1804.  2/2 + den has been converted to a three bedroom.  Two parking spaces.  Short-sale.  Need I go on?  $589K

1500 Ocean Drive:  1500 Ocean Drive #504.  Great unit with great ocean and Ocean Drive views in South Beach.  AAA building.  Bank-owned.  $1.2779M

La Gorce Palace:  6301 Collins Avenue #TS 7.  Penthouse-level unit (32nd floor) with 9 feet ceilings.  Beautifully updated.  Best value in oceanfront building.  $649K

Bath Club Miami Beach:  5959 Collins Avenue #1503.  3640 sq. ft. of luxury.  Priced very well for height of unit and view.  AAA building with spa-like amenities.  $2.399M

I’ve done a round-up of all the short-sales, foreclosures, and bank-owned luxury condos in Miami Beach.  I’m sure there are more, but not all of these types of properties get listed in the MLS, which is what I’m using for my source.

First off, AQUA Allison Island Condos has four units available for sale:

1. 6103 Aqua Avenue #201 - 1/1.5, 1380 sf, $369,000
2. 6103 Aqua Avenue #901 - 4/4.5, 2766 sf, $1,200,000 (no balcony)
3. 6103 Aqua Avenue #704 - 3/3.5, 2203 sf, $970,000
4. 6103 Aqua Avenue #601 - 3/3.5, 2203 sf, $899,900

Next, Murano Grande in South Beach, has three condos listed for sale:

1. 400 Alton Road #2309 - 2/2, 1437 sf,  $874,900
2. 400 Alton Road #2209 - 2/2, 1437 sf, $850,000
3. 400 Alton Road #605 - 2/2, 1437 sf, $850,000

The Green Diamond Condo in Millionaires’ Row has two units:

1. 4775 Collins Avenue #1804 - 2/2 + den, 1550 sf, 2 parking spaces, $765,000
2. 4775 Collins Avenue #1505 - 2/2, 1380 sf, $750,000

Bel Aire on the Ocean in North Beach has one unit:

1. 6515 Collins Avenue #703 - 2/2, 1126 sf, $630,900 

6000 Indian Creek in Millionaires’ Row:

1. 6000 Indian Creek #1801 - 2/2, 1300 sf, $650,000  

Oceanside Plaza in Millionaires’ Row:

1. 5555 Collins Avenue #16Y - 2/2, 1350 sf, $470,000

To search for more Miami Beach real estate, click here

This month I have started to feel that Miami Beach condo sellers are coming to terms with the reality of the “new” market. The impending wave of new condos “across the bridge” will no doubt bring down the market as a whole. Don’t worry, the best properties in the best locations are the LAST to go down and the FIRST to come up!

Three new luxury buildings will be added to the Miami Beach real estate mix: Continuum II, Apogee South Beach and Canyon Ranch Living Miami Beach. It will be interesting to see how many speculators place their units on the market at Continuum II.  Since Apogee South Beach has so few units (67), I think that any inventory that comes to market will be quickly absorbed.

So….You Want to Buy a Condo in South Beach?—What to Do

Always be guided by your gut instinct. Never let anyone talk you into something that you don’t feel is quite right. Even in this wobbly market, I would have NO problem buying a unit a Continuum, NONE! Here’s why: Location and supply and demand.

Kevin’s Recommendations

Continuum I. I believe it is actually a steal. Yup, UNDER-PRICED!

Apogee South Beach. This building is very pricey but will no doubt become the most prestigious condominium in ALL of South Florida. To be delivered later this year.

Canyon Ranch Living Miami Beach. One of the only projects along with Setai South Beach that is actually a destination.

One Bal Harbour. Arguably one of the two best locations in all of South Florida.

ICON South Beach. This one is all about timing. There is a lot of inventory on the market and not many condo sales. The owners that need to sell will be in reality VERY SOON.

Miami Beach Real Estate Condo Buying Tips:

• East and Southeast exposures are the most desired. If the condominium is on the bay, then the Southwest exposure would be the preferred exposure.
• Two bedroom units are better than three bedroom units (larger pool of buyers)
• If you can find a luxury condo on the ocean with one bedroom units with eastern exposure, those are rare. Continuum II has some and so does Canyon Ranch Living. They are gold. Developers typically give the larger units the preferred east exposure.
• Never buy a “flow-through” unit without seeing it or taking a tour of others. Some people like them—some people don’t.
• Corner “flow-through” units (three exposures) are rare. Apogee has them and so does Canyon Ranch Living. Great on paper, GREATER in reality.

Miami Beach Condos, Miami Beach real estate, One Bal Harbour, South Beach real estate, South Beach condos, Continuum II South Beach, Canyon Ranch Living Miami Beach

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