Real Estate Agent with Douglas Elliman SL3147954

 Why Miami South Beach?

1) Attractive tourist and resident destination plus close to Brickell & Aventura
2) Growing demand for rental product and diminishing supply
 From 2000 -2005 over 40% of rental apartment were taken out of the supply and converted to condominium, this trend continues
 Tourist and Miami - Dade workers alike demand Miami South Beach rental apartment for their location and quality of life
3) No more land available for new building in South Beach
4) South Beach is an Island that can not expand (Manhattan effect)

Why condo conversion as opposed to new construction?

5) No risk of the building not being built
6) No speculators who bring prices down before developer's closing
7) Lock in a good interest rate before the rates increase
8) Take advantage of a current active favorable rental market
9) You can enjoy the property before the resale
10) You have the choice to sell property sooner when the market is right

Why the Flamingo South Beach?

11) Resale Value
 Unique and very desirable waterfront parcel
 Limited inventory for property at the entry price of luxury market
 Flamingo, as offered today, is the most affordable 10% of all listed waterfront property in South Beach
 Average asking prices in South Beach waterfront Condominiums

         South Beach Flamingo
 One Bedrooms $576       $515

Two Bedrooms $715        $547     

 Three Bedrooms $1,068     $520

Refuge property vs. high end product currently in crisis (People always need a place to live and the most affordable properties always resell very well)
$30M renovation will bring an additional $100 per SF value regardless of market conditions.

12) Rental-ability values:
 Location 2 blocks from Lincoln Road on the bay - No car necessary
 Amenities: Parking, resort size swimming and lap pools, marina, 14,000 square foot David Barton gym, etc
 Highest market rental at approximately $3 per square foot, this allows investors to break even or get very close to it where in a comparable building will be impossible
 Ability to rent condos for short term in order to maximize income potential.

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