1. 1736 W. 28th Street, Miami Beach

 This home comes in first place for it’s provenance and location.  The estate is located on Sunset Island I.  This Maurice Fatio-designed home is sited on 1.63 acres of prime, unobstructed waterfront.  Neighbor:  Enrique Iglesias.

“La Tranquilla” was once owned by Mary Louise Maytag, daughter Maytag Corporation President, Elmer Henry Maytag.  The one-story neoclassic was recently refreshed by New York architect Annabelle Selldorf.  $29,900,750

2. Apogee Penthouse – 800 S. Pointe Drive #PH A, Miami Beach

The Apogee Penthouse rates for a few reasons.  One of them being is that it is a true Penthouse in every sense of the word. There are only but five condominiums that I would consider Penthouses in Miami Beach.  This residence consists of 6,900 interior square feet and 11,000 exterior square feet.  The unit comes with your own private pool (not a jacuzzi or quasi-pool) but a real, real pool; suffices it to say, this unit is a hands-down, incredible piece of real estate.   More about about Apogee South Beach here.  $18.5M

3. 40 Star Island Drive, Miami Beach

This Mediterranean manse is a on spectacular lot on exclusive Star Island.  We all know who the neighbors are by now, so I won’t go into that.  Villa Luna was built in 1925, and has been used as the backdrop by countless fashion photographers and filmmakers. Star Island encompasses a 20-acre park with 46 one-acre lots.

4. The Setai South Beach Penthouse – 101 20th Street PH B, Miami Beach

The Penthouse at the Setai originally came to market in June of 2006 for a whopping $34M.  Ok.  It has been on and off the market for the last few years. It was rumored that back in August of 2007 the unit was under contract for around $20M, but the deal fell through.

Penthouse Villa B encompasses the entire 40th floor of the world-renown luxury resort known as Setai South Beach.  The sky-home has 6,200 interior square feet with a magificient pool that overlooks the ocean and all of South Beach.

It is currently priced at $24M.

5. 4949 Pinetree Drive, Miami Beach

Former summer home of S.S. Kresge was designed by noted architect Carlos Schoeppel. This old-world estate enjoys over two acres of land and approximately 630 linear feet of waterfrontage on the Indian Creek Waterway. 

In the early 1920’s Pinetree Drive was a very prestigious street.  Prior to the construction of the oceanfront hotels and condominiums that now line Collins Avenue, Pinetree Drive had magnificent ocean views and breezes.

At one point the asking price on this luxury estate was more than $20M.  It is currently priced at $9.5M 

Browse all Miami Beach Real estate 

Related Posts

• Setai South Beach Penthouse Back on the Market: $24M
• Miami Beach Real Estate: Penthouse Report–Il Villaggio South Beach Penthouse Sells $10M Under Original List Price
• Miami Beach Real Estate: Apogee South Beach Penthouse Lists for $22M

I’m kind of loving this video for a couple of reasons.  I love the tour that this deputy gives; he must have been boning up on his broker-speak.

He believes “the cloud has lifted.”

4,000 sq. ft.!  That’s all?  If that property is his crown jewel, well, I’m not all that impressed.  Seems small and cramped to me.

Well, low-and-behold, it burnt to the ground today.  There has been lotsa news coverage on it so I won’t bore y’all with all the same stuff that you’ve probably heard everywhere else.  I’ll follow up with a few bullet-points to give you something to think about.

• The house was for sale
• The house was vacant and never lived in
• There are “liens” on the property 
• Calvin Klein is the neighbor
• The original structure, built in 1925 by a prominent Miami Beach architect, was not allowed to be torn down- by city ordinance
• It was the most hideous, heinous house EVER in Miami Beach.  Many people have commented over the years on exactly how Burke’s “complete renovation” was ever approved by the city of Miami Beach.

Draw your own conclusions.

I wonder if the listing agent will update the property listing to reflect ZERO bedrooms and baths and ZERO square feet.

Related Reading:

North Bay Road Castle on Fire- 4462 North Bay Road, Miami Beach

The reality is that there are no guaranteed when it comes to timing the real estate market.  At the same time, there are a few indicators to watch for that will help you determine when is the right time to buy and when is the best time to sell.  Here are a few steps to follow when making this determination.

Step #1:  Identify the State of the Current Market

In order to determine whether or not now is the right time to buy real estate, you first need to determine the state of the current market.  In general, there are three basic types of markets.  These include:

• Buyer’s Market
• Seller’s Market
• Neutral Market

As the name implies, a buyer’s market exists when there are more houses available for purchase than there are buyers.  As a result, not every home that is on the market will sell and the prices of available homes may drop.  In a seller’s market, on the other hand, there are more buyers than inventory.  This means nearly every home on the market will sell. With a neutral market, the number of available homes and the number of buyers is balanced.  This usually results in affordable interest rates and there are no conditions favoring either buyers or sellers.

Step #2:  Make a Purchase

If you have determined that it is currently a buyer’s market, it is time to make a purchase. This is because purchasing real estate in a buyer’s market offers a number of benefits.  These include:

• You can purchase the property at a lower price
• You can command certain concessions, such as having the seller pay the closing cost or pay for special reports such as roof certifications and pest inspections
• Sellers are more likely to extend closing deadlines, agree to early possession and go along with other transaction terms
• Sellers are more likely to agree to update home systems and to make repairs before closing the deal
• Sellers are more likely to accept a contingent offer, which is one that is dependent upon the sell of your existing home, if you desire

Step #3:  Sell for a Profit

If you have determined that it is a seller’s market, it may be time for you to sell your real estate for a handsome profit.  When you sell your property in a seller’s market, you can take advantage of the following benefits:

• You can demand top price for your property
• You can entertain multiple offers and agree to the one that is most favorable
• You will be less likely to need to make concessions to the buyer or to need to make repairs and updates, all of which could cut significantly into your profits
• You are less likely to have to agree to a contingent sell
• You can control the transaction because you don’t have to “settle” for the best price

It really is that simple to make a profit in the world of real estate.  The secret is keeping an eye on the real estate market and determining whether or not the current market environment is favorable for buying or selling.  Then, move forward and enjoy the profits you can make!

About the Author:

Eric Bramlett is the broker and co-owner of One Source Realty, a boutique Austin real estate company.  Eric currently manages his agents and works with select buyers and sellers.  Eric manages his Austin condo guide as well as his Austin real estate blog.

The number of Miami Beach condos on the market seems to be showing a clear trend downward.  In May of 2007 the real estate inventory peaked at just over 5,700 Miami Beach condos on the market; the latest figures show about 4,800 units available for sale.

In January 2005 there were 1,676 units on the market. Four years later there are 4,808 units for sale in, what I call the “Greater Miami Beach” area (Fisher Island, Miami Beach-including South Beach, Surfside, Bay Harbor Islands, Bal Harbour and North Bay Village).  That is almost 190% increase in inventory.  Wow. 

What Does This Mean? 

My crystal ball is in the shop, but knowing just a tad about the subject, I’d think it is safe to assume……..nothing.  Without the contraction of the credit markets issue, I’d say that maybe there has been just enough blood-shed to satisfy buyers; BUT with the lack of liquidity, we’re in for a longer and bumpier ride.

Bank-Owned Real Estate -Greater Miami Beach

• $300k+           22 units listed for sale
• $300k-           90 units listed for sale

Identified as Short-Sale-Greater Miami Beach

• $300k+           286 units listed for sale
• $300k-           575 units listed for sale

Statistics taken on 2/25/09 from the Southeast Florida Regional (SEFR) MLS and from the associations participating in the SEFR.

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