Richard Meruelo, a principal of Miami-based Merco Group and CEO of Los Angeles-based Meruelo-Maddux Properties, has sold a property at 5745 Pinetree Drive in Miami Beach for $4.6M. Meruelo and his wife, Maria, bought the real estate, an 8,600 sf Mediterranean-style manse, and adjoining lot, in 2005 for $5.6M.
In 2009 there were 42 waterfront sales in Miami Beach. The average Miami Beach waterfront home sold for $702/ square foot. The high sale for 2009 was Shaq’s Star Island home which sold in June for $16M, and the low sale was a home in mid-beach for $1M. Coincidentally, the high and low sales in 2008 were just about the same.
Just in! Santa is being waaaay too generous. What a gift! Knowing that another season of good laughs are right around the corner just makes me feel all warm, and well, like I have a snuggie on!
Michael Cohen confirmed the goodness today on his Facebook page.
To be honest, I’d like to know what’s going on with “the most fabulous circle in Miami.” (Watch the trailer, you’ll get it).
I believe the high-end waterfront home sector in Miami Beach will be the story of 2010. Here’s why: Inventory is way up, homes have been sitting on the market for record amounts of time, and number of real estate transactions are way down.
Miami Beach condos have been pummeled in the media for years. Prices have dropped big time, except for the South of Fifth neighborhood. Inventory is decreasing and number of transactions are up—way up. Not the same for waterfront Miami Beach homes…
Round up of South Beach and Miami Beach real estate happenings. Links to stories about flailing Sagamore Hotel; impending foreclosure of South Beach’s Gansevoort Hotel; Art Basel Miami Beach 2009; gossip. Casa Casuarina hires Barton G to run the restaurant and specialty boutique hotel at the former Miami Beach home of Gianni Versace.
Just days before Art Basel, The World’s largest art fair, it appears that Romero Britto’s art, has been vandalized.
Britto’s work perched at the entrance of Miami Beach, at the new “mall” at Fifth and Alton, greets visitors and residents as they cross the MacArthur Causeway into South Beach.
