Posts Tagged ‘international community’

Marriott Harbor Beach’s ground lease interest nets $49M

December 4th, 2011

U.S. Realty Advisors acquired the ground lease interest on Marriott Harbor Beach Resort & Spa for $48.6 million, according to the South Florida Business Journal.

The 16.5-acre oceanfront parcel is located at 3030 Holiday Drive in Fort Lauderdale and contains the 15-story, 650-room hotel. The hotel is controlled by Host Hotels and Resorts, which has more than 93 years remaining on the leased fee interest. The ground lease previously belonged to Northwestern Mutual which tapped Holliday Fenoglio Fowler to market the property.

The hotel has direct beach access, three restaurants, a 22,000-square-foot spa and a 100,000-square-foot function space.

Sunset Harbour is Miami Beach’s next hot ‘hood

December 2nd, 2011

The Sunset Harbour neighborhood in Miami Beach is undergoing a renaissance as business owners, city officials and a condo developer launch new projects there. The first Fresh Market in Miami Beach opens there this week.

Miami Beach’s Sunset Harbour is saying goodbye to neighborhood establishments like Mark’s Quality Cleaners and Riverside Gordon Funeral Home as it prepares to welcome a shiny new condo tower, a “starchitect”-designed parking garage and new restaurants, shops and grocery stores.

It’s part of a neighborhood makeover that business owners hope will turn the area into South Beach’s newest live-eat-play destination.

“In the next five years, you’ll probably see a nice enclave of restaurants and retail, more like what you see on Lincoln Road,” said Alan Waserstein, who owns Miami Lakes-based. LeaseFlorida. Earlier this month, Waserstein sold a plot of land on 20th Street to a condo developer for $4.3 million, doubling his investment from last year.

Sunset Harbour — bordered by Alton Road, Dade Boulevard, 20th Street and Biscayne Bay — is one of the few sections of South Beach zoned as an industrial district, a designation that has kept it from becoming a big player in retail, restaurants and entertainment. The Venetian Causeway leads drivers directly into the bayfront neighborhood, which sits on the northwest corner of South Beach, but most cars pass right through to the more lively Alton or Lincoln roads.

That’s likely to change, as investors and small business owners have aggressively bought up old buildings and land to repurpose the neighborhood as a shopping and dining hub. The city of Miami Beach is getting in on the action as well, launching a new high-end parking garage and planning to move its property management division across the street.

The area, mostly known for its yacht-shaped Publix and a 60-year-old neighborhood dry cleaner’s, has attracted tens of millions of dollars in new investment in the past year, with more on the way.

Ellen Friedman, who owns Mark’s Quality Cleaners with her husband, sold the building on 20th Street to a condo developer earlier this month. The company will relocate its operations in January, while the developer — the same entity that bought Waserstein’s 20th Street land — erects a new mixed-use condo tower, she said.

“They’re putting in an extraordinary complex,” Friedman said. “It’s going to be retail on the bottom and very posh condos on the top.” She added the project could be completed within two years, when Mark’s would return to the location as a retail tenant.

The developer, listed as Boca Raton-based Palau Sunset Harbor, has not officially filed plans with the city, and could not be reached for comment.

The city of Miami Beach also sees Sunset Harbour as a neighborhood ripe for development. The city is building a flashy parking garage with about 450 spaces on Purdy Avenue and commissioned star-architectural firm Arquitectonica to design it. The high-end garage is slated to have 30,000 square feet of retail space on the ground floor.

“More parking will help bring interest from the private sector to help redevelopment of the area,” said Assistant City Manager Jorge Gomez. “Also, the commercial component of the parking garage will help draw interest to the area.”

To help ease the flow of traffic in the burgeoning neighborhood, the city is considering building a bridge over the Collins Canal. City officials have authorized a $639,000 feasibility study for the proposed bridge, on West Avenue between 17th and 18th streets, and plan to hold an up-or-down vote next year.

The bridge could help alleviate traffic congestion on Alton Road and make it easier for drivers and pedestrians to travel between Sunset Harbour and the rest of South Beach.

With promises of better parking and potentially a smoother flow of traffic in Sunset Harbour, restaurateurs, grocers and retail companies are flocking to the sleepy neighborhood.

Fresh Market selected the neighborhood for its first Miami Beach location. The popular produce market is set to open its newly built 24,000 square-foot location, at 1800 West Ave., on Wednesday morning.

A handful of restaurants—including Morgan’s, Barceloneta and Pubbelly’s Sushi—have opened in the past six months. Catering mostly to a local crowd, the restaurants have found a loyal niche during dinnertime.

“These property owners look upon this as a chance to almost create another Lincoln Road,” said Frank Kruszewski, president of the Sunset Harbour Neighborhood Association. “Once the garage is built, you’ll have the ability to park your car and go to a couple different places.”

Earlier this year, Rosinella Restaurant purchased the property that has housed Riverside Gordon Funeral Home for decades. The family-owned Italian restaurant, with a popular outpost on Lincoln Road, is planning to build a restaurant, bakery and coffee shop at the 1920 Alton Rd. site. Construction could begin in the next few weeks, said co-owner Tonino Doino.

The company expects more restaurants and businesses to follow suit and move into the area in the coming years.

“It’s going to be a nice area,” Doino said. “It’s a completely new area and I think it’s a great neighborhood, especially for local people.”

Source: http://www.miamiherald.com/2011/11/16/v-fullstory/2523862_sunset-harbour-is-miami-beachs.html#storylink=addthis#ixzz1fIsoXmuO

Miami Beach home lists for $60M

December 1st, 2011

A 10-bedroom home at 3 Indian Creek Drive in Miami Beach has been listed for $60 million, according to Miami Today. The home, which was designed by architect Rene Gonzalez, has 30,000 square feet and a 100-foot pool. The home is located on Indian Creek Island, which has its own private police force and golf club.

To view the property please call 786-276-2451

South Florida home prices fall slightly

December 1st, 2011

Home prices in the tri-county area fell 0.7 percent in September compared to August, and 4 percent compared to the same period in 2010, according to the Standard & Poor’s/Case-Shiller Home Price Index, released yesterday. “The plunging collapse of prices seen in 2007-2009 seems to be behind us,” said David Blitzer, chairman of S&P’s index committee, in a statement. “Any chance for a sustained recovery will probably need a stronger economy.”

Source: http://therealdeal.com/miami/articles/south-florida-home-prices-fall-slightly

Miami residential sales jump 51 percent in third quarter: report

November 16th, 2011

The sales of single-family homes and condominiums in Miami-Dade County rose by 51 percent in the third quarter, according to a report from the Miami Association of Realtors. It was the 13th consecutive quarter of increasing sales in Miami. The average sales price of single-family homes also rose, jumping 19 percent, and the average sales price of condos jumped by 21 percent. “Strong demand from international buyers is fueling robust sales activity in Miami despite low consumer confidence and high unemployment,” said Jack Levine, chairman of the board of the Miami Association of Realtors. “Local sales are expected to set a record this year that should exceed the height of the boom in 2005.” Total housing inventory in Miami-Dade County fell 38 percent from the same period in 2010, with a 65 percent total drop since August 2008.  — Alexander Britell

Source: http://therealdeal.com/miami/articles/miami-residential-sales-jump-51-percent-in-third-quarter-report

Home sale numbers for August are positive for South Florida

October 23rd, 2011

South Florida home sales bounced upward in August, with the Miami-Dade condo market seeing the largest year-over-year gains, according to a report released Wednesday by the Florida Association of Realtors. There were 1,311 existing condo sales in Miami-Dade in August, up 51 percent from the same month last year and up 18 percent from July. Sales surged in the single-family market as well, as 951 homes traded hands, up 49 percent from last year and up 9 percent from July. In Broward, year-over-year condo sales rose 21 percent to 1,398 and single-family sales were up 19 percent to 1,185. Median prices also showed positive signs. Prices for Miami-Dade condos jumped 13 percent to $118,800, while single-family prices dipped 1 percent to $180,900. In Broward, median prices rose 6 percent to $79,500 for condos, and were up 5 percent to $191,800 for single-family homes.

Source: http://www.miamiherald.com/2011/09/20/2418127/home-sales-numbers-for-august.html#ixzz1bFSzmQGm

www.42208FisherIsland.com

October 20th, 2011

 

Please visit the website for this beautiful listing located at 42208 Fisher Island Drive.

www.42208FisherIsland.com

Live the Fisher Island lifestyle in one of the chicest contemporary 2 bedroom units on Fisher Island. This sensational completely renovated corner unit offers stunning views of the Fisher Island marina. Features include a state of the art open plan kitchen with a central island table perfect for entertainment , stainless steel appliances, quartz counter tops, wood cabinetry marble floors throughout, renovated bathrooms, custom built-in closets, impact glass windows, surround sound system, plasma TV’s and much more… Visit this exceptional offering!   

 

 Fisher Island is one of the world’s most renowned private residential islands, accessible only via ferry or yacht. Located in Miami, Florida, this paradise sanctuary is composed of 216 acres of luxurious estates and condominiums all with 5-star resort amenities, including two deep sea marinas, a 9-hole golf course, tennis courts, a world class spa, numerous fine and casual dining restaurants, a private school, hotel white sand beaches.

 

Renovation slated for Chophouse Miami

October 20th, 2011

The Chophouse Miami Bisro & Lounge will go under the knife, after being purchased by chef Jacques Van Staden. The project, which will involve the addition of a sushi bar and a cigar-friendly outdoor patio, is slated for completion by Thanksgiving. “When the opportunity arose for me to take it over and remake it as my own, I couldn’t resist,” he said. The restaurant is located at 300 South Biscayne Boulevard in downtown Miami.

Europeans enjoy the lifestyle Fisher Island offers

October 15th, 2009

Out of all of the private island residential communities and investment opportunities in the world that exist today, properties located on Florida’s exclusive Fisher Island have to represent amongst the brightest.

Fisher Island is an exclusive private gated community located just a few minutes by auto-ferry, helicopter or boat from Miami’s South Beach. There is no causeway or road connecting it with the Florida mainland. It constitutes a haven of peace, tranquility that offers a complete contrast with the hustle and bustle of downtown Miami – It is often described as a little Floridian Monaco without the high rise buildings. The people that live there enjoy peace and safety that one would associate with Switzerland. It is a place where the sun shines most of the year and everyone is smiling !

Once owned in the 1920’s by the influential Vanderbilt family as well as Miami Beach’s pioneer Carl G. Fisher, the island’s tiny surface area amounts to no more than 0.343 square miles. In the US Census of 2000, Fisher Island was recorded for having residents with the highest per capita income within the whole of the United States.

It is not surprising that the rich and famous from all over the world are drawn to this paradise isle of coconut palms and mangroves because it benefits from the presence of every conceivable luxury – The island offers country club resort living with a tennis club and 18 illuminated courts, a 250 sq. meter spa, an elementary private school with an excellent reputation and education, Fisher Island’s championship golf course is a 35 par nine-hole golf course designed by architect P.B. Dye and two deep sea water marinas accommodating yachts up to 200 ft., private beaches overlooking the Atlantic and restaurants of high standard service and cuisine.

For those inclined to travel to Fisher island by helicopter, there is even a helipad. There is also a very tastefully and recently decorated luxury hotel – The Fisher Island hotel – a member of the Small Leading Hotels of the world.

Security is paramount and crime is non-existent. This is an international community where it is said that up to approximately 43 different nationalities reside. Many people are from Central and South America, Europe, Canada and ‘snow birds” from the northeast United States call Fisher Island their primary or 2nd or 3rd home. It is an ideal place for families to live and relax and for children to play.

In fact many people never actually leave Fisher Island throughout an entire 4 week holiday. This is an immaculately manicured island with over 500 employees that service the island where there are sandy beaches overlooking the Atlantic ocean, swimming pools virtually every where one turns, few cars because people get around mainly on golf carts, that come with each apartment. The difference between this island and other exotic island refuges is that everything works like clockwork here – you are in the United States !

There are around 700 midrise apartments and approximately 12 estates on the island. They are all designed impeccably in a Spanish mediterranean style and to a uniform standard of excellent quality. Few of the island’s residents live there all of the year round although it would not be unreasonable to ask them why because it is a land for lotus eaters !

Ironically there are few British investors – perhaps because the British are unaware of its existence. This is surprising especially as an apartment (or as condominium as they are known locally) can now change hands for as little as $500,000 for a one bedroom apartment when this time two years ago the same apartment would have sold for twice that amount. At the other extreme of pendulum, there are very large 4 and 5 bedroom apartments that are now selling at around $2,500,000 – $ 3,000,000 (to £ 1,820,000) whereas a couple of years ago the same apartments would have been selling easily for upwards of $ 5,000,000 -6,000,000 (£ 3,636,000). There are even super-luxurious villas where asking prices have dropped from $9,000,000 to $5M.

The quality of life here is exceptional and any future resident would be well advised to become an Equity Fisher Island Club member. Fisher Island Club membership preserves the island’s very exclusive appeal and ensures that the infrastructure of the island is maintained to a very high standard.

The world economic crisis has even affected Fisher Island but that can be interpreted to mean that now is the time to buy if you want to buy a piece of exclusive paradise – especially if you are paying in sterling or euros as the exchange rate is still very beneficial for those in that position.

For more information, contact Karla Abaunza, resident and Fisher Island specialist. She speaks English, Spanish, French, Italian and Portuguese. Karla is the broker/owner of Luxury Living Realty, a boutique real estate firm dealing in the high end residential real estate market in South Florida. Located at 1111 Lincoln Road, Suite 400, Miami Beach, Florida 33139 (Telephone 001 305 343 5830) Karla can also be contacted by e-mail at info@luxurylivingrealty.net should you wish to take a first step in pursuing your island dream in Florida contact the expert.