WORLD’S DEEPEST POCKETS PLUNKING MILLIONS IN MIAMI
The world’s richest people know where to put their money: Miami, Florida.
These days, South Florida’s booming real estate market is a safer bet for foreign billionaires than cash or equities in weaker economies. One investment firm CEO, Jeffrey Gundlach, told Bloomberg News that there’s been “huge growth at the high end” in Miami and New York.
Recent monster deals bear out the trend. Two Miami penthouses, both listed at $50 million or more, found buyers (likely overseas investors) in the last few months. Details aren’t released, but either sale would set the record for Miami’s priciest purchase.
One is the penthouse at Faena House, the $50 million centerpiece of a revolutionary new development in Miami Beach. The penthouse has more than 18,000 square feet of interior and exterior space, a terrace that wraps around the entire building, and a private 70-foot-long infinity-edge pool on the roof. The other, in Mansions at Acqualina in Sunny Isles Beach, has a fairly accurate nickname: Palazzo D’Oro, or “Palace of Gold.” Its listing price was $55 million. For that, the lucky (well, wealthy) buyer gets two stories and 17,480 square feet of living space, plus a 25-foot waterfall, a fitness center, a glass-bottom pool, and too many other features to name.
“The average citizens in the U.S. are looking at this stuff like it’s happening on another planet,” said one luxury appraiser. Well, not quite. Just Miami.
PARK GROVE: HOW THE OTHER HALF LIVES IN THE GROVE
Details are out about arguably the biggest new condo to hit Coconut Grove in the current building boom. The 22-story Park Grove, designed by the world-famous architect Rem Koolhaas, is going to be modern and elegant when construction is complete in 2017, according to new renderings and details posted on Josh’s website.
The bayfront tower also boasts designer interiors and landscapes from Enzo Enea, and the whole effect will evoke timeless nautical themes. Yet none of the latest residential technology or luxury services are spared. The building is certified for sustainability and offers butler service, penthouse pools, wine cellars, and private cabanas.
Prices start at $2 million.
Request more information about Park Grove
MIAMI’S MOST UNIQUE OCEANFRONT HOME
Super-luxury penthouses aside, it hardly gets better than The Beach House. This Regalia villa bills itself as the most unique oceanfront property in Miami, and it’s hard to argue. The curvy glass balconies, which foil any obstacles to the priceless view, are alone enough to push this 10,000 square foot unit (with 6,500 square foot outdoor patio and private pool) over the top.
“Living spaces are flooded with light and air from sunrise to sunset,” the developers write. It “projects a feeling of weightlessness.” Prices upon request.
FEATURED LISTING: SOUTH BEACH ART DECO
Josh Stein has just listed a gem in the heart of South Beach: a fully remodeled two-bedroom art deco condo
at Tribeca West, just steps from Lincoln Road.
This property is 1,097 square feet of shiny new Brazilian cherry wood floors, granite countertops, and walk-in closets. The entire building was upgraded in 2004 by designer Andi Greenwald. For this location in a historical and coveted building, the $599,000 price tag is a steal.
THE LOFT: REINVENTED
Who says a loft has to look like
an abandoned machine shop? 7 Townhomes, built in 2007, applies luxury condo principles to seven exclusive loft units smack in the middle of South Beach.
Josh has recently listed one of these, a 1,381 square foot residence with two indoor parking spaces. Its ceilings rise an incredible 28 feet and then keep going — it comes with a private rooftop terrace. “This is a very unique opportunity,” Josh says.
Asking $3,800 per month.
AND FINALLY...
If you’re looking for a Caribbean getaway, Josh just came back from a friend’s wedding in Playa del Carmen, Mexico, a beautiful seaside town south of Cancún. The locale is world-famous for its fishing and diving. “I absolutely LOVED this town,” Josh says.
“The main street is called Fifth Avenue. It’s very similar to Lincoln Road in South Beach, only five times longer, with amazing restaurants, shops, and nightlife. And they know how to party!” He says the best part is that it’s just a one-hour flight away from Miami.
“A big shout out to my best friends, Bernie and Shanna, who had an amazing wedding and who also happen to own one of the best video production companies in Miami, called Bonomotion. If you ever need a high-end video team, tell them Josh sent you!”
For more info visit http://www.joshsteinrealtor.com or call 305 695 8257.
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