Miami South Beach Real Estate Blog

MIAMI'S NEWEST URBAN RESORT, GANSEVOORT SOUTH, DEBUTS IN SOUTH BEACH

Tue, 01 Apr 2008 11:30:26 -0500

Brand Expands Success Beyond Downtown Manhattan to Gansevoort South with Signature Rooftop Pool, Multi-level Beach Club, Luxe Paradiso Condos

A classic Miami Beach landmark - once the site of the East Coast's largest resort, the Roney Plaza - is shedding its old identity as it takes on a 21st century persona: Gansevoort South. This luxury mixed-use development will be an extension of the Gansevoort brand beyond New York City's Hotel Gansevoort in Manhattan's vibrant Meatpacking District.

The Gansevoort brand has emerged as a "next generation" developer of stylish urban resorts in evolving neighborhoods. Father-and-son team William and Michael Achenbaum, principals of the Gansevoort Hotel Group, have joined forces with the New York-based Chetrit Group and noted architect Stephen B. Jacobs, to develop the Gansevoort South, scheduled to open in January 2007.

In Miami Beach, the project will be located on 24th and Collins, widely considered to be the next epicenter of South Beach. There will be 102 condo-hotel units and 259 straight condominiums called Paradiso. The condo-hotel units and condominiums are available for sale.

An Oceanfront Oasis
The building, originally constructed in the late 1960's in the classic Art Deco style of South Beach, is being entirely redesigned around a tri-level private beach club that will anchor the development and serve as its centerpiece and central gathering spot. Architect Stephane Dupoux, well-known for his Nikki Beach Miami design, is creating the beach club blueprint. The beach club's design and décor will be clean and crisp, utilizing a primary color scheme of rich chocolate brown, deep royal blue and pure white. Furnishings, fabrics and finishes will evoke a contemporary tropical style. In the evenings, flames from strategically placed fire pits will reflect on the pool.

The main level, 12,000-square-foot semi-circular oceanfront pool deck will be a relaxing oasis with an expansive bar and restaurant overlooking an infinity-edge pool trimmed with Bisazza glass tiles in shades of deep blue and gold. A Jacuzzi, partially shaded by an open-air trellis, circular lounges and towering trees will complete the setting. The mezzanine level lounge area will provide easy access to all levels of the club. The beach level will feature the club's main bar and a seating area with oversized lounges and private cabanas with ocean views.

As in New York, the signature feature of the Gansevoort brand will be the rooftop, which will be transformed into a tropical haven dotted with coco palm trees and whimsical cabanas. An urban retreat, the 28,000-square-foot space will offer uninterrupted views of the Atlantic Ocean, South Beach and downtown Miami. The 112-foot outdoor pool with underwater music and lights will be joined by a stylish bar and lounge.

Gansevoort South will also feature a 42,000-square-foot David Barton Gym and 10,000 sq ft spa.

Oversized Rooms and All the Comforts of Home

While design is a top priority, comfort and convenience are equally important. To that end, plush feather mattresses will be covered with 400-thread-count Egyptian cotton linens and all rooms will be equipped with a plasma-screen TV. Complimentary high-speed Internet access will be available in each guest room, as well as Sony stereos, cordless phones, multi-line telephones with voice mail and data line capabilities, direct DID and fax lines that accommodate a laptop, and an in-room safe. Guest services will include 24-hour room service and concierge, turndown service, same day laundry/dry cleaning, and complimentary daily newspaper. The hotel will offer a frequent stay/loyalty program for guests.

The Next Epicenter of South Beach
Gansevoort South will move into an emerging oceanfront neighborhood at the forefront of a renaissance. Dozens of cultural institutions, art galleries, museums, shops, restaurants and nightclubs in the north end of South Beach are already experiencing an urban revival.

The recently renovated Jackie Gleason Theater of Performing Arts Center, Bass Museum and multi-million dollar renovations to the Bayshore Golf Club, Miami Beach Regional Library and Collins Park reflect the evolution of the area. Just blocks away, residents and visitors will enjoy the innovative Miami City Ballet building, Lincoln Road Mall and much more.

How to get your Flamingo South Beach North Tower Deposit Back Faster

Fri, 21 Mar 2008 11:02:18 -0500

"Do you have some money to lend me?" "...Let me see.. Tell you what ....let me ask my lawyer... if he says YES then I'll get a new one." We all know the truth. No body wants to give or lend money very easily and with good reason. Often times its for personal reasons, or perhaps business with no real inventive or time-line. Well the Flamingo South Beach North Tower Agents are fairly quick but just in case they might get busy you may wish to get your Flamingo South Beach North Tower Deposits faster by requesting it direct from the source.

So today I spoke with Cassandra the Flamingo Condos Contract Manager for the North Tower developer MCZ/CENTRUM. She told me that all you have to do is email her to confirm that you want to cancel the North Tower contact. Email her directly at cpalanza@mczcentrum.com in reference to the unit number.

She also told me that they will mail you a document that you need to sign and send back to them. So please confirm your mailing address with her. This whole process should take less than 2 weeks to get your Escrow Check. If you have any questions she can be reached at 305-604-9445. For south tower sales information, contact Juan Leal at (305) 975-7472. If you enjoyed this post, please subscribe to my RSS feed!

Flamingo South Beach North Tower Alternatives

Thu, 20 Mar 2008 11:49:48 -0500

I had many concerned buyers contact me strongly dissatisfied with the limited selection of the remaining developer units and options that they have been recommended.

For those of you who missed the boat (check the original post here), the Flamingo South Beach Condos North Tower is NOT going condo. So what are the current alternatives for these North Tower Contract Holders?

Option A
Buy the less than 40 units remaining from the developer. Many of these are 2^nd tier units which where originally over looked by buyers and are still over priced since they started selling in May 2005. The only way these units might sell is with a "strong" incentive and / or extremly creative deal.

The good news is Flamingo South Beach developers are offering some incentives. In some cases as high as 6% back or some other fees waived. I still think that at a 10-20% price premium it proves to be a tough sale. Many have minimal views and / or no balconies. Another thing to look out for is with a larger size unit comes increasingly higher maintenance fees. All of which will reduce your bottom line when is time to secure a new tenant.

They have a great hard working staff who is dedicated to help you find the right unit for you. So I wouldn't suggest discounting it right away but unfortunately many will have no choice but to seek other resources if they are not satisfied with the limited inventory they have access to.

Option B
Call your local hot shot independent real estate agent who is familiar with Flamingo South Beach Condos. He or She will search for you the best deals available and often already know all the Foreclosures and other non public listings to find the Perfect Apartment Home or Investment for you. With a little patience you will find the equivalent unit you "purchased" at the North Tower for a discount in the South Tower. You may also wish do a little bit or research first. You may View Listings now or Search MLS for other options that might interest you, and when you call you will be more informed.

At the current Flamingo South Beach developer's prices, I predict it will take until the end of this year for them to sell the majority of the south tower, but not before they adjust their prices. The smart buyers now are looking for more choices, flexibility and deals from distressed owners and motivated sellers. Sellers usually are more adapt to negotiate and will work with you instead of a big box developer and their one sided contracts with no financing contingency. For south tower sales information, contact Juan Leal at (305) 975-7472. If you enjoyed this post, please subscribe to my RSS feed!

Flamingo South Beach 1 Bedroom Foreclosure $217,000 – Miami Beach Amazing Deal

Tue, 18 Mar 2008 20:09:24 -0500

Today a One Bedroom One Bath Foreclosure was listed at $217,000 at the Flamingo South Beach condominiums. This unit is located just two blocks from Lincoln Road on 1500 Bay Road in the Flamingo Condos South Tower. For technical reasons this listing was under a pending status at a different price previously. However, the proper status has now been updated in the Miami Beach MLS systems.

The Flamingo South Beach One Bedroom over looks the Courtyard from the Second Floor with a no bay view you will be able to enjoy the beautiful Flamingo South Beach courtyard from the attached Balcony. At such a low sale price this unit is a perfect candidate for a South Beach Vacation Rental Program. VIEW LISTING DETAILS

The only comparable was another Second Floor unit facing the parking lot which sold in April 2007. According to the Miami Beach MLS records it sold for $335,900 directly from the developer. My guess is that after all the smoke and mirrors are pulled away from this transaction, the true sales price would lie somewhere around $300,000.

My prediction is that this unit will sell by the end of this week at or below its listing price. For sales information, contact Juan Leal at (305) 975-7472.

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Flamingo Listing Agents: Top 10 Tips and Open House

Sun, 16 Mar 2008 22:00:42 -0500

Dear Flamingo South Beach Listing Agents,

This is Juan Leal, Mr. Flamingo South Beach, we need to sell out the Flamingo Condos and need your help. If you have a Flamingo Miami Beach Condo listing that is NOT over priced we want you to join us for our Flamingo South Beach PROGRESSIVE OPEN HOUSE on Saturday, April 5^th, (open to any suggestions on the dates based on feedback). Please contact all your South Beach Sellers and see if you can get the maximum price reduction possible to create some sales. This is a win-win if we have some 20 or so serious buyers walking around the Flamingo condos to take these units off the Miami Beach market. There are some great units and prices in the Flamingo South Beach building. I'm sure we will have something sold soon with the recent Flamingo North Tower Cancellation. I personally have 3 potential buyers (not those crazy investors that want to buy at 50 cents) for 1 Bedrooms waiting, one with money already in Escrow. I'm getting leads everyday but don't have the right priced inventory. Let's compete together instead of against each other.

Listing Tips (I'm probably not the fastest or smartest or the "mostest" here.... But i can share some generic tips that have helped me out over the years, take what you will.)

Please Answer your phone or return calls the same day if it all possible, even if you have to text while your showing.
Work out Showing instructions IN ADVANCE with current tenants, find out their schedules. If a buyers agent calls you it shouldn't take you 6 hours to find out.
Have a key with you at all times, even if its in lockbox or owner lives there, your never know when someone might "lose" your key.
While this is difficult and unlikey all the time, try to personally show and help your follow buyers agent, they might not know as much about the building or perhaps you can find out their buyers level of motivation.
Get a price reduction today! Fact is most owners will lose money in this market. If they don't want to reduce, then drop the listing and call them in a few months when they will be more motivated.
If your listings is about to expire, relist it with a new MLS number/ agreement, change the pictures, descriptions or adjust the price and finally add an extra bonus point to the buyer's agent, if at all possible. This is sure to give it some renewed energy. If you know some other top agents consider working the listing together as they might know another realtor or buyer who will cause it to sell.
Pictures sell, words tell. Get a nice camera and take pictures of the inside of the unit (yes stop stealing generic photos of the property grounds!). If your unit has a view and you haven't photographed after 3 weeks perhaps you are not serious about selling. Out of state buyers check on realtor.com and other sites and they will skip over your listing.
Get a nice website to showcase your listing for your own buyers or to syndicate it online. A very inexpensive solution I use is http://www.point2agent.com/
Reply to this email and lets' pull our resources to advertise for this upcoming Progressive Open house.
If you are a Flamingo Condos owner reading this and thinking of selling please Check out this Free online book first as it will help you in the process.

I would be happy to help anyone if you have any further questions or ideas for this open house. Read this post: How Progressive Oppen Houses Work and call me or email if you have any further questions. For more information, contact Juan Leal at (305) 975-7472.If you enjoyed this post, please subscribe to my RSS feed!

Flamingo South Beach Only Bay View Pre-foreclosure Short Sale

Tue, 11 Mar 2008 18:41:19 -0500

I just had a huge price reduction on a Flamingo South Beach Penthouse 1 Bedroom Condo Apartment and there's still room to negotiate. This is the lowest Flamingo Miami Real Estate priced Direct Bay View 1 Bedroom, The Balcony Faces West towards the Bay and the city the Miami Downtown Skyline. This is the Best Angle/Side of all the One Bedrooms (all wide bay view from the hall way). Estimated Monthly Taxes are $540 plus Condo Maintenance Fees of $450. Today's Estimated Rental Income is $2,000 Monthly on a 1 Year Lease or $2,500-3,000 Monthly on Short Term Furnished Rentals. With a little work you can even raise the ceiling 2-3 feet since it's a penthouse unit. Unit needs work and is sold as-is, seasonal rental income can not be guaranteed and is based on many factors. All quoted rentals rates are maximum potential on a subject or comparable unit, your specific circumstances, furniture, furnishings and current market conditions will determine the ultimate price. As the Flamingo South Beach expert, I can help you find exactly what you're looking for. For sales information, contact Juan Leal at (305) 975-7472.

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AGENTS' CHOICE AWARDS 2007 - Favorite Place to Live and More

Fri, 07 Mar 2008 17:34:13 -0600

The people have spoken, and this is what they have to say: the following companies are the best of the best in the Miami real estate industry.

Miami Agent's first annual Agents' Choice Awards survey winners were selected by readers, who voted for their favorites via the Web site, MiamiAgentMagazine.com.

The online survey featured categories ranging from "Favorite Web Site" to "Favorite New Landmark" and "Favorite Sales Center." Inside this month's cover story, you will find the people and places throughout Miami that Miami Agent Magazine's Realtor readers feel demonstrate quality, originality and professionalism. You will see photos of the people responsible for carrying out these admirable visions, their thoughts on why their projects are Miami favorites and, in some cases, breathtaking views of the projects themselves.

Below are just 2 of your favorites, Miami, so take a look at the companies and projects that the industry is raving about.

Favorite Place to Live
Flamingo South Beach
Flamingo South Beach provides an environment where the pleasures of resort living frame daily life."The Flamingo is a place where you'll admire the dolphins swimming in the bay as you walk to your car in the morning. Where you won't have to drive to pick up groceries because there will soon be a high-end gourmet market on the property," says developer Michael Lerner of Chicago-based MCZ/Centrum. "For our residents, a resort lifestyle is a priceless luxury."

Flamingo South Beach consists of 1,688 units in three towers, situated on a 16.5-acre property with expansive views of Biscayne Bay, Star Island and downtown Miami. The 614 homes in the recently-launched north tower include studios, one- and two-bedroom residences ranging in size from 500 square feet to 1,400 square feet. Prices range from the $300,000s to the $600,000s.

Units feature glass balconies, impact-resistant sliding glass doors, high-speed Internet access, satellite television, walk-in closets and full-sized washer and dryers.

Favorite Sales Marketing Company
Douglas Elliman Florida
The mission of Douglas Elliman Florida is to deliver the best possible service to its customers. To accomplish this, the company works tirelessly to provide unwavering support to its agents. Douglas Elliman Florida continuously strives to achieve the most exacting standard of excellence on which the firm was founded nearly a century ago.

Douglas Elliman Florida provides an intimate working environment, giving the partners the opportunity to collaborate and share information. Training, agent development and ongoing industry-specific education are also paramount. By offering a platform from which agents have the opportunity to network with a base of more than 3,500 high-caliber industry professionals in the Northeast, Douglas Elliman Florida is better able to service the needs of customers.

The management team at Douglas Elliman Florida is a diverse and harmonious hybrid of forward-thinking real estate professionals. The company's business philosophies are fundamental; however, by necessity of evolving customer needs, Douglas Elliman Florida is not bound by convention.

Edit : Edit

Top Flamingo South Beach Pre-foreclosure deals in paradise

Fri, 07 Mar 2008 12:56:52 -0600

"May I have your attention please"... no this is not another fire alarm… or two lose models on the 12th floor… I'm writing to let you know we have two really great Miami Beach Real Estate Pre- Foreclousre opportunities for you. Often I hear investors tell me "just call me when you have a deal" well recently listed we have 2 beautiful Pre- Foreclosure properties available for sale in the Flamingo South Tower. So Consider this your official Notice. My long-term out look for the Flamingo South Beach condo is bright. 1 BEDROOM / 1 BATH - CLICK FOR LISTING DETAILS The first Pre- Foreclosure is a One Bedroom on the 8th floor with a Balcony. This condos view looks over South Beach and the Ocean from a distance, I previewed this unit last week and noticed all the appliances and carpets have been replaced with brand new ones. It appears that no one has even lived in this miami beach condo since the developer sold it. At its currently listed price of $254,000 it represents a 30% drop from its purchase price just a year ago. Even with the soft real estate market at this price you will be protected with instant equity and should easily positive cash floor once rented. The 38 available One Bedroom condos average approximately $500 per square foot, with this particular unit being the lowest at $341 per foot. It doesn't take a doctor of to figure this one out. 2 BEDROOM / 2 BATH - CLICK FOR LISTING DETAILS The 2nd Flamingo South Beach short sale is a Two Bedroom condo on the 7th floor with a fantastic terrace. It's a direct bay view unit that has unbelievable views of Biscayne Bay, Star Island and the entire Miami skyline. This one by far has one of the best views in the condo complex and is currently listed at $420,000. This is the lowest priced 2 bedroom in Flamingo, in fact comparable 1 Bedrooms are approaching the $400,000. A truly amazing feat 2 rooms for the price of one. The 24 listed 2 Bedroom Apartments average approximately $514 per square foot with this particular unit being the lowest at $395 per foot. I give this one a strong buy recommendation. If you're looking for tremendous investment potential, you can't go wrong with a Flamingo South Beach or Miami Beach condo. Besides its amazing year round weather, abundant recreational activities and nightlife, Miami Beach is sure to retain its attraction as a playground for the wealthy. Diversify your financial portfolio with a Flamingo South Beach or Miami Beach condo. As the Flamingo South Beach expert, I can help you find exactly what you're looking for. For sales information, contact Juan Leal at (305) 975-7472. If you enjoyed this post, please subscribe to my RSS feed!

Juan Leal is now affiliated with Douglas Elliman South Beach

Tue, 04 Mar 2008 21:03:51 -0600

I am delighted to officially announce that I have decided to join the Douglas Elliman Florida team in Miami Beach. The office is located just 4 blocks from my home, right off Lincoln Road which has amazing shops, restaurants and is the place to see and be seen in South Beach. The name recognition, systems and office support are one of the best I have seen. While it was an extremely difficult decision to leave my previous broker, I felt it was the right descion for me and the logical choice since they have an office in the area where I conduct most of my business.

Since it's founding in 1911, the name Douglas Elliman has been synonymous with the most exacting standards of excellence in the real estate industry.

With unparalleled reach within Dade, Broward and Palm Beach Counties, as well as an association with 3000 New York-based agents, Douglas Elliman Florida's primary focus is to exceed your expectations of service, performance and results.

Services for which Douglas Elliman Florida is noted include full service real estate brokerage, exclusive residential sales and leasing and new development marketing and sales.

Flamingo has partnered with Affinity Property Services for rentals

Tue, 04 Mar 2008 01:58:56 -0600

Great news Flamingo South Beach has partnered with Affinity Property Services to offer luxury condominium rentals and property management services. Affinity Property Services is a professional company that works with Realtors and owners alike to get apartments rented. They have replaced the Miami Condo Investments which were getting a huge amount of flack for their allegedly disservice to their clients (I say allegedly because I have limited experience dealing with them). Many industry insiders and Realtors report misleading tactics and practices which have left owners and agents very disappointed. I am happy to report I have not had any problems with Affinity Property Services and their friendly helpful staff is always available during business hours to answer any inquires. As an independent agent if you are thinking of leasing a new apartment in the Flamingo South Tower please contact me first as I'm not limited to any particular leasing offices propriety listings or just MLS access...I go where the deal is and often negotiate on your behalf the best price possible. For sales or leasing information, contact Juan Leal at (305) 975-7472.

Hot Listings Report

Sat, 01 Mar 2008 19:50:55 -0600

Just a quick market update on rental and sales deals for this week.

RENTALS
Short Term / Fully Furnished Vacation Rentals
$199 Per Night Bay View Studio Wood Floors / 389 WMC Weekend
$219 Per Night Direct Bay View Studio / Balcony
$1500 Per Week Large Bayview 2 Bedrooms
$1600 One Bedroom WOOD FLOOR South Tower Bay View 6 Month Min!
$1890 Short Term Super Large Furnished Studio South Tower Wood floors
$2199 Direct Bay Pool View / Balcony Upgraded Studio
$2499 One Bedroom Ocean View Balcony
$2789 One Bedroom Direct Bay View Upgraded

Residential Leases
$1129 Lowest Price Studio North Tower
$1250 Lowest Priced Studio South Tower, Gym Ocean View High Floor
$1389 One Bedroom Low Deposits!
$1500 One Bedroom South Tower Ocean View / Balcony Gym FREE
$1600 One Bedroom Wood Floors Bay View 6 Month Min Only - GYM!***
$1619 One Bedroom North Tower Courtyard / Bay / Balcony
$1650 One Bedroom South Tower Ocean View WOOD FLOORS Super Large 950SQFT Gym FREE***
$1897 One Bedroom South Tower Bay View / Balcony DavidBartonGym FREE

Roommates and Big Ballers
$2150 2 Bedroom South Tower with Gym
$2419 2 Bedroom Center Tower Alton D Floor plan
$2799 2 Bedroom Center Tower Amazing View Upgraded Unit Stainless / Wood

PLEASE NOTE: All quoted rental prices unless otherwise indicated are monthly asking price for unfurnished units with long-term lease and it does not include parking access which is is available for additional fee. All South tower units include David Barton Gym Membership and paid A/C. The information is deemed (as of press time) to be accurate however it's not warranted and/or may be subject to change anytime without notice.

SALES
Buy Me - North Tower is No Longer Selling
$219 Ocean Facing Studio Ready to Move In today!
$254 One Bedroom Ocean view / Balcony - SHORT SALE
$289 One Bedroom Ocean View / Balcony A Steal
$400 One Bedroom Bay View / Balcony Upgraded Unit
$429 Two Bedroom SHORT SALE- Direct Bay View - WILL NOT LAST

Flamingo South Beach Group on Facebook

Fri, 29 Feb 2008 15:46:12 -0600

This is just a response to Drew's letter that was recently sent to all the Members of Flamingo South Beach [ON FACEBOOK].... I want to say thanks to you and all the residents on here for making this group what it is today... and for all those who continue to promote the group to their neighbors... Today I just checked and we have just signed up our150th member.. so lets keep this going and I'll see you guys all by the pool!!

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Dear Members of Flamingo South Beach,

The Flamingo group was originally created as a gathering place for you to meet your neighbors, socialize, network, entertain and ultimately have fun. With this in mind, I'm proud to introduce to you to 2 NEW OFFICERS who will help elevate your experience. These officers have already proven their leadership within the community and are dedicated to help keep you on top of the latest happenings, events and opportunities.

Loni Paige, Flamingo Recreation Director:
Loni Paige is a seasoned special-event planner brought in from New York to help spearhead the transformation of the New Flamingo south beach. With her experience she brings the energy and hip-ness that South Beach revolves around. You will be the first to be informed of the latest events.

Juan Leal, "Mr. Flamingo" Real Estate Agent with FORTUNE Int'l Realty:
The top selling "Mr. Flamingo" well simply help you save money...Now... by making sure you always find and get the best deals, whether you're renting, buying or selling. His innovative blogs, negotiation skills and in-depth market knowledge are valuable resources to those looking to make a move. Contact him to get the inside track on exclusive deals from all ANY source.

We are happy to have them here and are very excited for the changes just around the corner. If you have any other questions, please do not hesitate to contact me.

Sincerely,

Drew M. Levin

Flamingo converter returning some deposits

Fri, 22 Feb 2008 00:00:30 -0600

South Florida Business Journal - by Oscar Pedro Musibay

MCZ/Centrum, converter of the Flamingo apartments, is giving back deposits to buyers in the north tower of the Miami Beach complex because the developer hasn't been able to nail down unit closing dates.

"If the people don't want to wait, because we can't give them a closing date, we will give them the deposits back," MCZ Chief Executive Officer Michael Lerner said Monday.

He said sales in the north tower stalled at 200, and blames the market downturn - not the product or location.

"We don't know when the building will be converted to condo," Lerner said of the 614-unit north tower. "We have to hit a critical number before we start converting."

Lerner said the north tower will continue as a rental until sales hit the critical threshold - a number he would not disclose. The elliptical building in the center, which is the newest and the crown jewel of the complex, also remains a rental.

He said Fortune International, which is handling sales, has shifted its attention to the south tower, which has 562 units and is nearly sold out.

In 2005, MCZ/Centrum signed a deal with owner AIMCO, a Denver-based real estate investment trust, to pay $625 million for the 1,600-unit Flamingo on Biscayne Bay. The deal was structured in three phases - one for each of the towers - so MCZ/Centrum, a joint venture of two Chicago developers, could break up the financing.

AIMCO sold the south tower for $163.5 million. It also provided MCZ/Centrum with $5 million options on the two remaining towers. Lerner said he would renew the options when they come due.

The developer agreed to pay $169 million for the north tower and $267.5 million for the 513-unit, center building. AIMCO still owns the center and north towers, Lerner said.

A call to AIMCO was not immediately returned.

As part of the 2005 deal, AIMCO claimed the first $19.8 million in profits from unit sales, whether or not the other sales went through.

William Bloom, the Holland & Knight partner who represented MCZ/Centrum, did not immediately return a call seeking comment.

Adam Greenberg, managing director of BayBridge Real Estate Group, owns a studio in the south tower and has a contract on a 1,080-square-foot unit in the north tower. He's had $29,000, his 10 percent deposit, tied up in the project for nearly a year. He thought he would have closed on the one-bedroom unit by fall 2007.

Greenberg said he's ecstatic

NY Times: Florida's Miami South Beach Top Tier Real Estate Market Doing Well

Mon, 29 Oct 2007 13:58:07 -0500

As Housing in Florida Plummets, the Top Tier of the Market Just Dips

By GERALDINE FABRIKANT Published: October 27, 2007

Houses and condominiums with price tags of $1 million or more are still changing hands robustly in some of the most exclusive areas.

Houses and condominiums with price tags of $1 million or more are still changing hands robustly in some of the most exclusive areas, though at a pace less brisk than a year ago. The glistening waterfront glass towers on Miami Beach, the sprawling estates set in manicured gardens in Palm Beach and the clustered mansions in Naples are attracting buyers, both domestic and foreign.

As in other once-booming regions, in Florida the housing market seems to be not one market, but two. The lower end is littered with vacant houses and unfinished developments, and homeowners are struggling to meet their monthly payments as rates adjust upward. The luxury end has its unsold new condos and mansions lingering on the market, too, but as in New York, where the demand in pricey Manhattan is still strong, sales have fallen less. And Miami and other parts of Florida are continuing to attract interest among the wealthy.

Both markets have been buoyed by foreign buyers attracted to the United States because the weak dollar makes American homes comparative bargains. Florida has the added demand from affluent retirees across the country and second-home buyers, particularly from the Northeast.

"The very, very high end of the markets in communities such as the Bay Area, Los Angeles, Manhattan and Miami and to a lesser degree Chicago, Seattle and Washington that have global appeal have held up much better than the rest of the housing market," said Mark Zandi, chief economist at Moody's Economy.com. "A recession would certainly not help the high end, but it would not undermine it. And much of their buying is done with cash and not affected by the global financial turmoil and its impact on the availability of mortgages."

Take the greater Miami area. Over all, home prices have fallen 7.3 percent from their peak in December 2006, according to the Standard & Poor's/Case-Shiller index that tracks repeat sales of specific homes. But because of a shift upward in the value of the homes that have traded hands, the median price for condos sold so far this year for over $1 million is holding steady at $1.5 million, according to the Realtor Association of Greater Miami and the Beaches.

The median price for single-family homes sold is even reported to be up slightly, to $1.51 million from $1.46 million in the 2006 period. In Miami Beach, two brokers, Kevin Tomlinson and Dora Puig, recently represented a buyer from the Midwest who paid $7 million for a beachfront triplex. The sellers, a group of wealthy Mexicans, had bought the apartment for $6.13 million in April 2005, near the height of the market. They put it up for sale in early 2006 for $9.5 million and finally sold it for a 14 percent gain.

"When people are realistic about prices, they can sell," said Mr. Tomlinson, a broker with EWM Realty, an affiliate of Christie's.

Based on the number of sales, the Florida real estate market as a whole has taken a huge hit this year. Unit sales of homes and condominiums worth less than $1 million in Miami-Dade County, for example, fell 37.2 percent through Oct. 23 compared with the period a year earlier. So far in 2007, 7,078 homes have been sold.

But even the high end is cooling off. In the greater Miami area, the number of condos and single-family homes that sold for more than $1 million through Oct. 23 fell 18 percent, to 958 units from 1,166 units in the comparable period a year earlier.

At the very high end of the market in Naples on Florida's west coast, there have been about 40 sales so far this year, compared with 46 sales for all of 2006, according to Thomas L. Campbell Jr., sales associate at Premier Properties.

In Palm Beach, the number of units sold has fallen 15 percent, to 223 properties.

"There is more inventory in all price ranges," said Deborah Boza Valledor, the chief operating officer of the Realtor Association of Greater Miami and the Beaches. But even as more homes linger on the market, some areas remain particularly popular with potential buyers. "They are waterfront properties that are exclusive," she said, "and people are willing to pay the price."

Indeed, more than 78,000 homes were for sale in the Miami area in August, up from 51,000 a year before, according to ZipRealty, the real estate brokerage firm.

The overhang of unsold homes helps explain why reported selling prices do not tell the whole story. Sellers "are making concessions," Ms. Boza Valledor said. "They will offer a year's worth of paid maintenance fees to the buyer, or they will pay for the parking space or they will throw in country club fees that might be part of the expense of buying a home in a gated community."

Just a year ago, when buyers were bidding against one another for properties, such deals would have been unusual. And in another sign that the feeding frenzy has ended, the highest price paid for a Miami-area condo this year was $13.9 million, down from the top price of $16.9 million last year.

Mr. Tomlinson, the Christie's broker, suggests that sellers are starting to be more realistic. "They are coming off their 2005 prices and are more in today's market," he said. "Two years ago, if you sold something at $3.5 million, the next listing in that building came at $4.2 million. Now it is more reasonable."

Across the state through the end of September, the real estate company Coldwell Banker has sold 1,222 condos worth a million dollars or more, said Clark W. Toole, who runs the company's operations in Florida. The average sale price is down less than half a percent from last year.

To the degree that the market has held up, it has been helped by eager foreigners, checkbooks in hand, who are still showing up and often paying cash. A survey last year by the National Association of Realtors found that the number of foreign buyers in Florida had dropped significantly from 2005. But of those who bought, 29 percent paid cash. Only 8 percent of domestic purchasers did. More than 10 percent of the foreigners bought homes for over $1 million.

The pattern of sales remains uneven, with evidence that some of the most exclusive places are having a harder time. On Fisher Island, the private island just off Miami Beach that has its own golf course, tennis courts and spa, business has slowed sharply, said Lars Ekdahl, who has worked as a real estate agent on the island for 13 years.

Right now, the island, which boasts Andre Agassi as a frequent visitor and where Oprah Winfrey once owned a home, has 96 of its 700 housing units for sale. At one point, the number offered was just 39.

"I didn't think it would affect us so much at Fisher Island," Mr. Ekdahl said, "with the dollar so weak and the euro so strong." Only about half the island's residents are Americans. The cost of living on the island has risen because of dues and other expenses, and in a market in which buyers have more choice, they may be pickier.

Perhaps the starkest sign of a two-tier housing market is in Palm Beach. The island of Palm Beach itself has about 8,000 housing units. Leslie Evans, a local real estate lawyer, said that about 80 percent of sales there are cash deals and that most buyers are American. But just across the bridge in West Palm Beach, "there are buildings with 200 units and 80 of them are for sale, and others where the building is nearing completion and sales will never close."

Flamingo South Beach - Pre-Halloween 1 Bedroom / Studio Rental Deals

Tue, 23 Oct 2007 11:08:01 -0500

Are you searching for a new place in the Flamingo South Beach, Don't get scared this season. MrFlamingo South Beach will get you in quickly before this Halloween. I have personally researched the best deals on the market today... these are the best options.

So which Tower is the Best for me?

South Tower - Upgraded hip condo building, short term & furnished units available, includes up to 2 free DavidBarton Gym memberships
North Tower- All rental, some what cheaper than South Tower, lease subject to 60 day kick out clause when they convert to condos, plus construction noise when in progress, gym memberships are $50 each, only long term unfurnished
Center Tower- More expensive, semi-private, newer tower and larger floor plans, gym memberships are $50 each, only long term unfurnished

PLEASE NOTE: All quoted rental prices unless otherwise indicated are Asking Price for unfurnished units with long-term lease and it does not include parking access which is is available for additional fee. The information is deemed (as of press time) to be accurate however it's not warranted and/or may be subject to change anytime without notice.

OK, so now what are my best options?

Option 1
You decided to enjoy the sunny condo South Tower, then check out these Selected listings direct from the Multiple-Listing Service. Please reference the unit number when emailing me in regards to any of these South Tower Apartments so we can make an appointment to see them.

Option 2
Grab an AIMCO Community managed 1 Bedroom apartment. While there is usually a more expansive application process and a minimum lease of 7 months, this may be the way to go for you. Prices start from $1,479 in the North Tower to $1,899 in Center Tower. Think! I have worked in the leasing office before it went condo... You will benefit from having me, an experienced Relocation Agent that knows how they negotiate and how their system works. Calling them directly or with another Realtor may not get you the same results as having someone in good terms with both the leasing agent staff and managers. You also save money by me knowing exactly how they work and what concessions they can and cannot give and when if they can ..will they do it... PLEASE NOTE I MUST ACCOMPANY YOU ON YOUR FIRST VISIT in order to help here. Please contact me today to schedule an appointment with the onsite-leasing staff.

Option 3
Steal an Unlisted Deal in South Tower. I have an owner who has 2 Studios for lease. Very rare in the Flamingo South Beach but both have balconies. If you check now there are no Studios with Balconies listed on the market anywhere, the only other Studio listed is $1,850 furnished with no balcony. The first Studio is a Direct Bay unit that is totally updated and renovations should be completed in the next few days, this is the ideal Winter Vacation spot or South Beach Bachelor Pad and simply the Best View anywhere for the complex for a Studio Apartment. The other Studio priced at $1,400 Faces East towards Miami Beach and Bay Road, not exactly an Ocean view because of the low floor but it's the best line to be in on the East Side. The Owner is willing to furnish one or both Studios within reason but this will be discussed later or on a case by case basis and for additional cost. For details or showing information please text me.

Last but not "lease" if you have read this far you deserve a little surprise: My little top secret listing. A 1 bedroom with balcony on the courtyard and bay side is NOW available for $1,400. True the view is not all that greatest since it's from a lower floor and the trees block part of it. However this is by far the lowest priced 1 bedroom in flamingo if not on south beach (for the size, amenity, location and condition-of course)... this is a steal!!!!!!!!!. Anyway if you absolutly need the view it will go for $1,860 on a higher floor... but this needs to be priced lower. For more information to lease, sell or buy please contact MrFlamingoSobe. Expiernced, Trained and dedicated to the Flamingo South Beach community I will make sure you the most out of your time and money. contact me today +1 305-9757472

Flamingo South Beach Rental Market update –Sept-Oct

Mon, 08 Oct 2007 23:42:42 -0500

September has historically been the slowest month in Miami Beach rentals and Flamingo South Beach is certainly not an exemption. The last half of September has been incredibly slow with some top realtors reporting little to no leases closed and the Leasing office Relocation agents indicating a 50% drop in business. We have seen inventory almost double since its peak in early August. For example just looking at available listed 1 bedrooms in August there were 10 units then and now we have 19, but this is soon to change. High Season is very fast approaching and along with the sexy super models (and end of the wet season....finally please) come higher prices and less inventory. Tenants now is the time to get a deal, landlords get ready to kick it in high gear.

Deals

The best deal on the market is unit 1242, a one bedroom with a balcony that faces the bay & courtyard, It just got listed today for $2,000 however the owner will consider providing parking for free (a $150 value) if we find a quick 1 year lease to turn it over. This is by far the lowest priced 1 bedroom with both balcony and bay view. The closest one is the over priced unit 1018 that has been sitting on the market for weeks. While 1018 is the best direct bay line and it even includes wood floors I predict it will lease for $2,000-2,100.

The next lower priced one unit 858 is listed at $1,750. This 1-bedroom is now back on the market and it faces the courtyard and bay however it has no balcony which has proven difficult to rent and a very firm owner who refuses to lower her price. It has been on the market since early August, I believe a price of $1,600-1,650 will get this leased right away.

And now my top pick of month a high floor super large "fully furnished" 1 bedroom corner unit, this exquisite residence faces directly on the bay with balcony towards bay / garden side. It is a fully upgraded unit by the developer and the finishes are very modern and trendy but still just little basic cookie cutter. It includes all the expected refinements, stainless steel appliances, title, and upgraded cabinets and sinks in the bathroom. However the owner has done an impeccable job furnishing the apartment with a professional interior decorator and over $40,000 in high end designer furnishings and immaculate accent colors. This short-term rental priced at just under $3,000 per month while not a steal is definitely worth another look considering its sizable 1,100 square feet of living area.

And not far behind is unit 1246 a stunningly 2 bedroom with courtyard and bay views. This is the only available fully upgraded 2 bedroom which includes the standard developer package. It has stainless steel appliances, title, upgraded cabinets and sinks in the bathroom. It's listed at $2,800 and the owner will let it go for $2,500-2,600 this is very close the price of a similar unit I leased some weeks ago on the same floor.

Save Money, Live the lifestyle.

Luxury is not cheap but when you need an in...Consider the value a 2 bedroom brings at just $300- 500 more then a similar 1-bedroom it doesn't take a genius to figure out the best value per square foot. So for families or roommates go to unit 1060 listed at just $2,350. This is by far the lowest priced 2 bedroom on the market and it still has a lovely garden and bay view. And for You...Yes you... the discriminating and demanding client...Put an offer now on unit 826 listed at $2,500 with a direct bay view / pool party view and watch the cruise ships sail by in your wonderful new apartment home. Direct bay means a view right from your apartment foyer. Wow how amazing is that? Based on past experience and dealings with these agents we should be able to negotiate at least $150 of the list price on a long term contract.

Rented

While only a few apartments leased this period the top deal to beat is the recent contract put on the lower penthouse corner apartment. This updated high floor direct bay view unit is the only corner unit with direct bay and a private balcony which faces directly towards the water. This enormous apartment home has a huge living area and provides almost 400 more square feet than any other 2-bedroom floor plan in the complex and with recently installed hard woods floors. For $2,750 this lucky client gets to enjoy the gorgeous glowing sunset views from balcony while hearing the crashing and smoothing waves hitting the seawall.

For more information to lease, sell or buy please contact MrFlamingoSobe. Expiernced, Trained and dedicated to the Flamingo South Beach community I will make sure you the most out of you money. Contact me today +1 305-9757472

Flamingo South Beach 1 Bedroom Apartment For Lease with Balcony & Bayview, Best Deal

Mon, 08 Oct 2007 23:00:31 -0500

• 785 sq. ft., 1 bath, 1 bdrm apartment - $1,650 USD Monthly

South Beach, Miami Beach - FIRST TIME ON THE MARKET! LUXE 1 BEDROOM RARE BREATH TAKING BAY VIEW. JUST 2 BLOCKS FROM THE PULSE OF SOUTH BEACH IN LINCOLN ROAD AND MINUTES FROM THE SAND. PROPERTY IS PERFECTLY SITUATED ON 17 ACRES ON BEAUTIFUL BISCAYNE BAY, 2 RELAXING BAY FRONT POOLS, 14,000 SF DAVID BARTON GYM. PENTHOUSE LEVEL WITH PRIVATE BALCONY. INCLUDES FREE GYM MEMBERSHIP AND MORE. BEST VALUE WITH VIEW! PRE-SEASON SPECIAL PRICED TO MOVE CALL TODAY THIS IS THE LOWEST PRICED 1 BEDROOM IN SOUTH TOWER THAT HAS BOTH BAY VIEW AND BALCONY NEXT ONE IS 2,300!

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NeoVertika Unit 2509 Just went under contract!

Fri, 28 Sep 2007 01:47:58 -0500

Its is with great pleasure to announce that the gorgeous Loft Unit 2509 at Neo Vertika is now under contract pending the sale. This unit was one of the few remaining 2 Bedroom lofts that are fully upgraded, from custom lighting, upgraded railings and hardwood floors. Scheduled closing date is set for early November! To find more great deals like this one please contact me at 305-975-7472 or visit www.juanleal.com for more details.

Condo Termination Law - Condos at Risk of Redevelopment

Wed, 26 Sep 2007 13:57:25 -0500

new law that can impact the private property rights of every condominium owner in Florida took effect on July 1, 2007. The "condo termination law" could make it easier for developers to purchase existing, older condo buildings that currently sit on land that is very valuable so that they can redevelop it for a sizeable profit.

The condo termination law requires only 80% of unit owners to consent to the takeover. Before the new law, all owners in a condo building had to consent before the sale could occur (allowing for a few resistant to selling out to prevent a sale). Under the new law, the takeover plan can only be stopped if a minimum of 10% of the unit owners of the complex object in writing within 90 days after the date the plan is recorded (the "effective date"). However, according to Senate Bill 314, they have "the burden of pleading and proving that the apportionment of the proceeds from the sale among the unit owners was not fair and reasonable."

The condo communities most ripe for redevelopment and, therefore, "at risk" of being takeover targets as a result of the new condo termination law are the older condo buildings that are oceanfront or on the Intracoastal. Perhaps the easiest targets will be the smaller complexes where a larger, luxury building can take its place. Only time will tell whether the condo termination law will cause the type of controversy that eminent domain issues did in recent years.

The Vue 2 Bedroom Condo SHORTSALE in Brickell

Tue, 28 Aug 2007 00:20:56 -0500

• 1,322 sq. ft., 2 bath, 2 bdrm Apartment - MLS® #D1216299 $400,000 USD - SHORT SALE
Brickell, Miami - LARGE UNIT WITH WRAPAROUND BALCONY. WATER & CITY VIEWS. LARGE LAUNDRY ROOM WITH WASHER & DRYER. ALL AMENITIES BLDG. RESORT STYLE HEALTH CLUB/HEATED POOL/ WIRELESS INTERNET IN COMMON AREAS. WALK ONE BLOCK TO: PF CHANGS RESTAURANT/ STARBUCKS & SHOPS AT MARY BRICKELL VILLAGE. PRE-FORECLOSURE, SHORT-SALE MAKE ANY OFFER
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Flamingo South Beach Studio Apartment For Sale Lowest Priced Unit in the Complex

Tue, 28 Aug 2007 00:17:12 -0500

• 543 sq. ft., 1 bath apartment - - Lowest Priced in Complex
South Beach, Miami Beach - LOWEST PRICED STUIDO IN THE FLAMINGO. JUST 2 BLOCKS FROM THE PULSE OF SOUTH BEACH IN LINCOLN ROAD AND A SHORT WALK TO THE SAND. PROPERTY IS SITUATED ON 17 ACRES ON BEAUTIFUL BISCAYNE BAY, 2 RELAXING BAYFRONT POOLS, 14,000 SF DAVID BARTON GYM. LOWEST PRICED UNIT IN COMPLEX. INVESTORS "NO RENTAL RESTRICTIONS" BETTER THAN DEVELOPER PRICE
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Flamingo South Beach Studio Apartment For Sale - Lowest price in Complex (Pre-MLS)

Thu, 16 Aug 2007 02:58:39 -0500

• 543 sq. ft. apartment - $269,500 USD

South Beach, Miami Beach - LOWEST PRICED STUIDO IN THE FLAMINGO. JUST 2 BLOCKS FROM THE PULSE OF SOUTH BEACH IN LINCOLN ROAD AND A SHORT WALK TO THE SAND. PROPERTY IS SITUATED ON 17 ACRES ON BEAUTIFUL BISCAYNE BAY, 2 RELAXING BAYFRONT POOLS, 14,000 SF DAVID BARTON GYM. LOWEST PRICED UNIT IN COMPLEX. INVESTORS "NO RENTAL RESTRICTIONS" BETTER THAN DEVELOPER PRICE

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How much is SEO Service worth?

Tue, 14 Aug 2007 01:06:38 -0500

I had a company contact me call netbiz trying to charge me 150 per month.... Does anyone know how efffective is this service.

Price Reduced for Flamingo Miami South Beach 1 Bedroom Apartment For Sale - Direct Bay Views from Balcony

Mon, 13 Aug 2007 00:52:29 -0500

I am pleased to present the best flamingo deal today in our featured properties outlook. Click the link below, then log on to my website for your exclusive look.

• 785 sq. ft., 1 bath, 1 bdrm apartment - $380,000 USD

South Beach, Miami Beach - FIRST TIME ON THE MARKET! LUXE 1 BEDROOM RARE BREATH TAKING BAY VIEW. JUST 2 BLOCKS FROM THE PULSE OF SOUTH BEACH IN LINCOLN ROAD. PROPERTY IS SITUATED ON 17 ACRES ON BEAUTIFUL BISCAYNE BAY, 2 RELAXING BAYFRONT POOLS, 14,000 SF DAVID BARTON GYM. THIS HIGH FLOOR UNIT HAS PRIVATE BALCONY JUST FEET FROM THE WATER. INCLUDES FREE GYM MEMBERSHIP AND MORE. BEST VALUE WITH VIEW. INVESTORS "NO RENTAL RESTRICTIONS" BETTER THAN DEVELOPER PRICE.

http://www.mrflamingosobe.com/Miami/Florida/Condos/33139-Miami/South_Beach/Agent/Listing_777913.html

Let me know what you think!

Regards,

Juan Leal
FORTUNE INTERNATIONAL REALTY
Web: http://www.mrflamingosobe.com/
Cell: 305-975-7472

Price Reduction on NeoVertika 2 Bedroom Loft For Sale in Brickell / Downtown

Mon, 13 Aug 2007 00:38:14 -0500

Brickell, Miami - Announcing a price reduction on 2509-690 SW 1 CT, a 1,113 sq. ft., 2 bath, 2 bdrm apartment. Now MLS® #D1194841 $399,495 USD - LOWEST PRICED 2 BEDROOM!!.

Property information

TWO STORY UNIT TRAVERSINGT THE ENTIRE WIDTH OF THE BUILDING. TWO BALCONIES, ONE IN LIVING ROOM FACING NORTH OVERLOOKING MIAMI RIVER DOWNTOWN THE OTHER IN THE MASTER BEDROOM OVERLOOKING POOL, BRICKELL AND THE BAY. THIS IS THE MOST SOUGHT AFTER LAYOUT, ONLYONE WITH PRIVATE MASTER! UPGRADES INCLUDE GRANITE COUNTERS AND MODREN APPLIANCES. HARDWOOD FLOORS AMMENITIES INCLUDE, GYM, SAUNA, STEAM, RAQUET BALL, POOL, JACUZZI, DOG PARK, LOUNGE.