Category Archives: 33141

Miami Beach Luxury Real Estate – Q3 Waterfront Stats: Ultra-Luxury INSANITY

A Rod $38M Miami Beach Manse

I really didn’t plan on doing a Q3 stats analysis of Miami Beach luxury waterfront homes, but with such incredible activity, especially in the ultra-high-end ($10M+) range, the stats are so out-of-control good that I just HAD to.

The big story of 2012 is the number of homes and parcels of land that sold in the $10M+ category and the velocity with which they moved. It seems that Miami, and Miami Beach in particular, is taking the wind out of our northern neighbor’s real estate sails: Palm Beach.

At the end of Q3, Miami Beach and Indian Creek Village had 13 sales in excess of $10M. Additionally, there were two transactions in Indian Creek Village that broke Miami-Dade County real estate sales records: 14 Indian Creek sold for $38.4M in March and was topped five months later by 3 Indian Creek at $47M.

Miami Beach & Indian Creek Village Residential Real Estate Sales: $10M+ thru 9/30/2012

YEAR # OF SALES SALES VOLUME
2012 13 $242,080,000
2011 10 $150,570,000
2010 5 $62,427,000
2009 1 $16,000,000
2008 5 $61,950,000

Prior to 2012’s record-breaking sales on Indian Creek Island, the biggest real estate deal in Miami-Dade County was three lots on Star Island that Robert Frost purchased from Leona Helmsley in 2006 for $27M. Helmsley, who was 75 at the time, bought in 1996 those five acres of land on the desirable west side of the island for $13M.

Star Island & Indian Creek Island Steal the Spotlight

The other notable story in Miami Beach luxury real estate is the unprecedented number of sales on Star Island and Indian Creek Island. Through 9/30/2012, there were 12 transactions on Star and Indian Creek islands combined. Prior total activity for these communities:

  • 2011 – 7 sales
  • 2010 – 2 sales
  • 2009 – 3 sales
  • 2008 – 3 sales

Luxury Miami Beach & Indian Creek Village Real Estate Sales thru 9/30/2012

Miami Beach waterfront real estate sales 2012

Waterfront Land Sales in Miami Beach & Indian Creek Village for Q3 2012

Miami Beach and Indian Creek Village Land Sales Q3 2012

Insights & Analysis thru Q3 2012

Since I’m wrapping up this post moments before the year-end stats come in, let’s act as if Q4 will be blah (which it won’t be; I’ve seen the numbers, so get ready!). Compare this data to prior years, and draw your own conclusions:

Miami Beach Luxury Waterfront Homes Sales: 2008-2012 (Q3)

YEAR SALES VOLUME # OF SALES $PSF
2012 $481,114,700 71 $915
2011 $351,263,033 75 $769
2010 $226,854,000 53 $710
2009 $169,331,447 42 $702
2008 $245,777,500 49 $934

So far, $PSF is up 19% from 2011. We are just about at 2008 pre-crash prices, BUT at double the 2008 activity level (wink, wink).

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Lenny Kravitz Sells Miami Beach Home for $2,450,000

Rocker Lenny Kravitz has sold his Miami Beach waterfront home for $2,450,000.  On the market for just over three months, the recently renovated house, on Biscayne Point Island in Miami Beach, was originally listed for  $2,850,000.

Continue reading Lenny Kravitz Sells Miami Beach Home for $2,450,000

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

 

How Times Have Changed in Miami Beach

I’ve been in Miami Beach and South Beach for 16 years as of today.  I remember when I moved here; I actually had to leave the Beach to buy housewares (mop, toaster, everything!). There was nothing on the Beach. We had to leave for everything.  There weren’t many places to go to lunch. On Lincoln Road, we had choices like Granny Feelgood’s, the counter at Woolworths (does anyone have a picture of the counter?), The Beehive, and El Rancho Grande (it was half the size it is now.)

Fast-forward 16 years to one of the most explosive renaissances of any city anywhere.

Publix in North Beach
Publix in North Beach

It looks as if the North Beach area is going to be getting a state-of-the-art, hurricane-proof Publix.  It seems that grocery chain is in the final stages of getting the 46,000 sf store.  According to the article in Sunday’s Miami Herald, some neighborhood activists don’t want a large-surface lot for parking.  Um, hello! People need to park somewhere.

It will take about two years to build once construction begins.

I’ve heard through the grapevine that this Publix is slated to be one of their new upscale stores to compete with Whole Foods.  I’m sure that will make all the new owners and guests at Canyon Ranch Living Miami Beach, which is directly across the street, very happy.

[Source:  Miami Herald]

The Fresh Market in South Beach

The city unanimously approved the 22,000 sf store in the Sunset Harbour neighborhood in South Beach.  According to the Miami Herald, The Fresh Market will be located at the corner of 18th and West Avenue.  No time was given on the completion of the project.

Segafredo in SoFi/South Beach

A popular hangout on Lincoln Road and now on Brickell Avenue, Segafredo will be opening street-side at 124 Collins Avenue, just a few doors up from Nemo Restaurant.  I’m particularly excited about this one. I love the one on Lincoln Road, but most times it’s just too hectic, so a sexy SoFi location is sure to be a huge hit.  To be honest, I’m kind of annoyed that I didn’t think of the idea first. It’s going to be an instant hit with all those residents in the condos of the neighborhood (Continuum, Apogee, ICON, Murano, et al).

Check out South Beach real estate here.

Miami Beach Luxury Real Estate: North Bay Road Waterfront Steal!

Miami Beach Luxury Real Estate

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.

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