Category Archives: 33154

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).

Related Reading:

Check out Miami Beach Ultra-Luxury Homes For Sale | Content by

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BREAKING NEWS: 3 Indian Creek Drive, Indian Creek Island, Closes for Record $47M

 

Miami Beach Real Estate: Indian Creek Island Estate Closes. Trumps Last Record Sale of $38.4M in March by $8.6M

 

Indian Creek Village, 3 Indian Creek Record SaleOriginally offered for $52M in 2007 and listed as high as $60M in 2010, the 30,000 SF modern manse at 3 Indian Creek Island in Miami Beach closed today — smashing all records — for $47M.

The home is sited on an 80,000 SF lot.  Indian Creek Island has been THE hotbed of ultra-high-end real estate sales in Miami of late.

 

View the Manse at 3 Indian Creek Drive in Miami Beach

Related Reading: 

Miami Beach Luxury Real Estate: 2012 Mid-Year Waterfront Stats and So Much More [Updated] [SBCB]

Celebrity Real Estate-On Last Day of Show Rosie O’Donnell Lists Star Island Manse in Miami [SBCB]

CRAZY: Miami Beach Luxury Waterfront Real Estate Sales Surge More than 41% in 2011 [SBCB]

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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