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Akoya Miami Beach Condos Statistics 1/1/08-6/18/08

This data is based on information from the Southeast Florida Regional (SEFR) MLS or from the associations participating in the SEFR for the period 1/1/08 through 6/18/08.

 It’s been a tough year for Miami Beach real estate generally and even more so for Akoya Miami Beach.  Let’s break down some of these numbers to see what they really mean.

• One Bedroom Activity:  There has been one sale this year.  There are 36 available condos for sale
• Two Bedroom Activity:  The have been two sales this year.  There are 21 available condos for sale
• Three Bedroom Activity:  There have been two sales this year.  There are 8 available condos for sale.

There is one pending sale, which is a three bedroom foreclosure.  Search all unit for sale at Akoya Miami Beach here. 

Search Miami Beach real estate

Oh, the media.  I remember in back as early as 2004 the media starting predicting that the bottom would be falling out just about now.  Dire predictions.  Horrible repercussions.  Doom and more gloom.

I’ve never been an optimist.  Why?  Because I’m a businessman.  I was always a realist.  I told another colleague as early back as 2003 that it was “over.”  She laughed, and laughed hard!  She went on to say, “this is South Beach.  Other areas my decline but NEVER South Beach.  Everyone in the world wants South Beach real estate!”  I winked at her and said, “It’s over.”

In 2005 it was over (the media went from boom times to the great depression in one year).  The Wall Street Journal, New York Times,  Miami Herald –this story was like crack to those publications.  They couldn’t get enough.  I was interviewed scads (uncountable) of times.

I noticed those stories end the beginning of this year.  I’ve said many times before that I believe the media was hell-bent on making the story, as opposed to reporting the story. Scary, huh?  It was never as bad as the media reported it to be no matter what number or predictions Jack McCabe fed the media.

Surprising Early Signs of a Miami Real Estate Recovery Stabilization

Here’s the latest hot-off-the-press stats for MIami Beach condos.  As you can see, the numbers are NOT sinking, as predicted by many.  A couple of interesting things to note:  Our slowest months, here in Miami, are from August to December.  Also, the pending sales are consistently higher than the number of condos sold.

During the period of speculation (of the media and real estate analysts) from 2005-2007, many people quoted that there were 50-60k units coming online in Miami.  As the real numbers are revealed, it seems that a lot of the information that the media and analysts were using was wrong.  In an article from tomorrow’s Miami Herald

”It’s not as big as we all thought it would be,” said Jack McCabe, a Deerfield Beach real estate analyst…”

Florida Real Estate Being Viewed as “A+”

It’s too much for me to handle.  I have a little annoying question that keeps bugging me:   I did my own personal “quick and dirty” just over a year-and-a-half ago and came up with about 22,000 condo units coming to market in the next 18 months, why couldn’t Jack do that and make his predictions on that number?  It was easy enough for me.

I think I have a feeling why.

More on South Florida real estate here

UPDATE: I woke up this morning to a lovely comment from Jack McCabe filled with insults and innuendos (about me and others).  I won’t publish the comment because of the aforementioned content which is in violation of the South Beach Condo Blog comment policy.  What I will do, in another post, is address some of the questions that were posed to me and comment on some of his responses.

This one takes the cake.  Buyers of units at Trump Towers I, II, and III in Sunny Isles Beach, Fla are suing the developers, the Related Group and Dezer Development because, according to the Daily Business Review

…used the celebrated Trump name to attract buyers. But according to the suit, the billionaire’s name can only be used temporarily and for promotional purposes and may be changed once the units are sold out, the buildings are completed and the developers are no longer associated with the project. The lawsuit was filed Tuesday in Miami-Dade Circuit Court.

The buyers are seeking cancellation of sales contracts for units with prices totaling more than $100 million and the return of about $20 million in deposits.

Trump who was reached in Scotland…said he was “honored” by the lawsuit and the fight over his name.

Honored?  Read the rest of the story and you’ll want to do a little bit more to Trump other than “honoring” him.

Sorry for the lack of posts recently,  but the reality is that I am a real estate agent first, and a blogger second

Anyway, I don’t know how this little nugget (h/t to Chelsea Handler) slipped by me (probably because May 6th was MY birthday).  WSJ had an interesting article prophesizing that we are somewhere near the bottom of the real estate crisis, and one sentence, in particular, jumped out at me:

Most people forget that the current housing bust is nearly three years old.

Not me.

The article is a very good read and adds balance to all the over-simplified analysis that has come our way over the YEARS.

The contest consists of seeing who can use their web-savvy skills to market properties in this new internet-empowered era.

My vote goes to ARDELL at Rain City Guide as The Greatest Real Estate Agent in the World.

Also, check out Trulia.

It was a truly spectacular day here in Miami Beach.  I’d guess it was about 74 degrees, no humidity –perfect. I had just dropped my Italian clients off at the Delano Hotel and I hear fire sirens –lots of them.  I turn and look up and I see flames shooting from the roof of the newly opened Gansevoort South Beach.  I have no idea what caused the fire, but I do know that it was on the roof.  The Gansevoort has a pretty sexy roof “thing” going on; pool, bar, and members only, of course.  The fire looked more like it was coming from mechanical area of the roof.  I’ll watch the 11 o’clock news and see what happened.

The Gansevoort Hotel and Residences South Beach opened a few weeks ago and is located at 2301 Collins Avenue.  The hotel has 334 rooms and 259 residential condos.  The finished resort will have an outpost of the Meatpacking district’s STK steakhouse, and a David Barton Gym.

UPDATE:  I just received an e-mail from, I believe, the PR firm for the Gansevoort:

Hi Kevin, I saw your blog posting and wanted to update you on the fire at Gansevoort South Hotel, Spa and Residences yesterday. Here is the official statement from Robert Van Eerde, Managing Director of the hotel:“There was a small, contained fire on the unoccupied terrace at the penthouse level at Gansevoort South yesterday afternoon. The Fire Department responded immediately and extinguished the fire within 15 minutes. No one was injured and damages were minimal. The hotel is fully operational.

The lobby of Continuum II is much more intimate than Continuum I. It has a traditional feel much like Continuum I.

I have a feeling that this arrangement won’t last long, hopefully.

This is the view from the preferred northern exposure of Continuum II.

The units on the northwestern corners have incredible views. These differ from the western views of Continuum I because those views are blocked from South Pointe Tower and Portofino Tower.

Beautiful kitchens with Salvatore cabinets (same brand as Apogee), Miele appliances and Sub-Zero refrigerator and wine cooler.

Crestron “Smart Building” keypad for Valet, Maintenance, and Concierge Services.

This is a photo of a master bath with imported marble countertops, backsplash, and whirlpool decks; seamless glass shower doors and european bathroom vanity cabinets.

Here’s a striking kitchen with the Macassar Ebony selection. The kitchens feature granite countertops, under cabinet lighting, and Sub-Zero built-in refrigerator-freezer.

View from the 30th floor.

Massive free-form pool with 14 cabanas.

View from the 28^th floor northwest corner unit.

Continuum II enjoys quite possibly the best location in all of Miami Beach and South Beach, and will likely become one of the most sought-after Miami real estate locations. Located at 50 S. Pointe Drive in the “SoFi” neighborhood, Continuum II has 203 units and enjoys resort-like amenties such as a 20,000 sq. ft. world-class spa and excercising facility & fitness center with roof-top infinity lap pool, full-service beach club, restaurant, and three har-tru tennis courts.

For more information on Continuum II luxury condos, click here.

Click here for available condos available for sale at Continuum II, 50 S. Pointe Drive, Miami Beach

Interesting article over at LongBeachRealEstateHome.com on “bump keys.”  Did you know that your locks can be opened with just a few taps on the key?  That’s right!  Check out the video and protect yourself.