$35 million in 3 sales in less than 30 days!

So when we thought that the sale of the Fontainebleau II’s Penthouse at $9,000,000 would be the highest sale of the year http://www.celekt.com/articles/miami-beach-highest-condo-sale-since-2007-9000000/, we should have thought twice…

- By the end of May 2010, an other record sale was recorded: http://sef.mlxchange.com/Pub/EmailView.asp?r=1668817485&s=SEF&t=SEF

SANTA MARIA #4901 Sold for $11,000,000

Unit #4901, a 7 BR Penthouse at the Famous Santa Maria condo was sold for $11,000,000.  This unit was bank owned and closed very very quick…… maybe too quick but my comments will stop here.

2 weeks later, Penthouse B at the Setai South Beach closed as the number one highest re-sale in the condo Market in Miami Beach and in all Miami Dade.

Setai South Beach Penthouse B sold for $15,000,000

Penthouse B listed at $19,999,999 closed at $15,000,000 with a closed price per square foot over $2,400…. never seen before!

Previous owner, a partner at Barroway Topaz Kessler Meltzer Check, LLP, with over 80 attorneys, one of the largest firms specializing in the prosecution of complex class action litigation, has found a buyer for his only ones of its kind property.

Those unique listings sold back to back ( not including an $8 million + Penthouse at the One Bal Harbour Condominium last month) show how the very high end market has regained confidence into the Miami Beach Real Estate Market. The big players are putting back their money in Real Estate. Definitely, a very distinctive and exceptional Micro Market with Matchless properties but a positive force for the overall market.

South Beach’s LNR Property to sell $1 billion in loans

The South Beach-based firm LNR Property is trying to sell about $1 billion of defaulted loans.

BY DAN LEVY, JONATHAN KEEHNER AND DAKIN CAMPBELL

Bloomberg News

Read more: http://www.miamiherald.com/2010/05/22/1642148/south-beachs-lnr-property-to-sell.html#ixzz0q151KSec

THE FONTAINEBLEAU II PENTHOUSE CONDO

On May 14th 2010, one of the Penthouse of the Fontainebleau II Condo located at 4441 Collins Avenue, has sold for $9,000,000. The 8th highest condo sale ever recorded in the MLS in Miami Beach.

This 5 Bedroom, 4,500sq ft unit bought in July 2005 for $3,600,000 by New York Developer Baruch Singer had been listed in January 2009 for 16 million. After a couple of price reduction to $13.5 million and then $9.8 million and after 82 days sold for $9 million.

At $2,000 per square foot, this is the 4th highest amount per square foot ever recorder. The 3 first sales being PHA, 1605 and 1505 at The Setai Miami Beach.

SOLD PENTHOUSE FONTAINEBLEAU II SUMMARY:

- Listed price:

$9,800,000

- Sold Price:

$9,000,000

- $ per Sq/Ft:

$2,000 per Sq/Ft

- Assessed Value 2009:

$4.7 million

- Real Estate Taxes for 2009:

$96,000 yearly

Buyer:

Pending information

- SO WHAT IS THE NEXT MOST EXPENSIVE SALE IN MIAMI BEACH?

Penthouse PHA at the Apogee South Beach.

It s back on the Market with a reduced price to $16,000,000

Check out the virtual tour if you are curious or interested!

http://homesite.obeo.com/viewer/unbranded.aspx?tourid=553674&refURL=http://www.celekt.com/unit-view/m1389937/&locale=en-US

May 2010 had a total of 149 sold units (Totaling $60,523,070) in the Miami Beach and South Beach areas. 13 of them closed over 1 million dollars. We count only 1 short sale in this price range which was the unit #2303 at Icon South Beach.

In comparison:

• January had 130 closed units

• February had 138 closed units

• March had 212 closed units

• April had 175 closed units with a total of $89,449,892 worth of sold Real Estate, the highest amount since the beginning of 2010, averaging $511,000 per closed transaction.

www.celeKt.com

iPad & iPhone USERS CAN NOW SURF ON CELEKT.COM WITH THEIR DEVICES

With the arrival of the revolutionary Apple iPad (iPad official Guided tour from the Apple Website), we are proud to tell you that you can henceforth browse and check out on the go the latest info about Miami Real Estate by reading our blog and most of all, by browsing each of your favorite Celekt condos to view updated listings for sale and/or for rent.

BROWSE CONDO PROFILES AND VIEW RECENT TRANSACTIONS

• Don’t forget that each condo profile have its own database with the recent rentals and recent sales to help you better understand today’s real estate Market in a specific area or preferred condo!

• Or, if you just feel like browsing all the listing in Miami Dade or even Broward county, use our quick search or full search to view all available listings from the MLS.

“E-MAIL FRIEND” FUNCTION

• Interested about a specific listing for someone you know? Just use the function and icon ”E-mail Friend” on each unit page detail to send your family or friends the detailled info and photos for them to review the “Celekted” listing. It is 100% compatible with the Iphone and blackberry devices.

FACEBOOK FAN PAGE

• Want to follow us with Facebook? Become a Celekt fan to get the latest Miami real estates news. http://www.facebook.com/pages/CeleKt-your-Lifestyle/69547012374

MIAMI BEST PENTHOUSES

We would like to introduce you the most amazing Penthouses  for sale available in the Beautiful Miami. Including South Beach Penthouses – Miami Beach Penthouses – Downtown Miami Penthouses – Brickell Penthouses – Bal Harbour Penthouses.

- What is a Penthouse? As most people know, a Penthouse is a residence, often with a terrace, on the top floor or floors of a building.

For the most part, the Penthouses in Miami Condominiums are the “creme de la creme” from all the units located in a building. Those unique residences have a special floor-plan with usually counts 3 to 6 Bedrooms and incredible views from their balconies or terraces. Some of them have private roof top pools and/or Jacuzzis.

• This month, celekt introduced the best penthouses available in Miami Beach, more specificaly in South Beach

South Beach Penthouses:

• Apogee South Beach #PHA, 800 S POINTE DR Miami Beach 33139

$18,500,000

Click This image to see more!

This breath taking two-story penthouse with 22′ ceilings enclosed by floor to ceiling windows is not just an apartment it is a home. complete with a 360-degree roof top palazzo including a roof top private swimming pool accompanied with a full built-in summer kitchen. with over 11,000 sf of exclusive outdoor living space, the balconies and terrace becomes a private backyard in the sky. this modern kitchen i equipped with a gas cook top, built in miele appliances, perfect kitchen for entertaining.

• Capri #B-PH1, 1445 16 STREET Miami Beach 33139

$6,900,000

This magnificent contemporary penthouse in the sky offers stunning panoramic views of the gorgeous miami skyline & glistening biscayne bay. newly built in 08, with countless luxury features including 2000+sqft of rooftop terrace with summer kitchen, wine bar, open kitchen with the finest european cabinetry, built-in stereo speaker system, custom lighting & 4 balconies. a 5-star complex offering a private marina w/500′bayfront walkwy, boat slips, pool, jacuzzi, fitness center, 24hr sec & valet

• Il Villaggio #BH-06 1455 OCEAN DR Miami Beach 33139

$4,950,000

Owner says “sell now”!!! the hottest 2 story corner beach house at il villaggio featuring breathtaking ocean views from every room, 22 ft floor to ceiling windows, limestone & teak floors, elegant & spacious great room, open gourmet kitchen, dramatic steel staircase, 3 full master suites & multi-media wiring throughout. full service luxury bldg offers 24 hr security & valet, concierge, private beach lounges, pool & beach attendants, two story fitness center, oceanside promenade w/ grill & community room.

• Setai South Beach #PH-B 101 20 ST Miami Beach 33139

$19,999,999

There is neither a  picture nor a description at the moment!

Miami Penthouse Photo Gallery:

The Floridian condo Miami Beach is getting a brand new look including landscape, pool area…

Finally the landscaping of the Floridian condo is looking like it was always supposed to be. A simple, clean, flourish landscape to greet visitors and residents.

• The Floridian condo Miami Beach presented by Celekt. Click here to see more:

http://www.celekt.com/condo/the-floridian-condo/

The Floridian condo Miami Beach was purchased for $96 million in February 2004 by Carlyle/DKE Floridian LP and was converted to condominiums.

The Floridian has 1,2 and 3 Bedroom Floor-plans with a total of  334 units. There are 12 units per floor with 6 facing west ( the bay) and 6 other Floridian condo floor plans facing east ( the beach).

Before becoming a condo, the Floridian was a rental building and had been built in 1997.

There is a total of :

• 74 One Bedroom  units
• 211 Two Bedroom units
• 48 Three Bedroom units

THE FLORIDIAN MIAMI BEACH FLOOR PLANS

Click on the Following link to download All of the Floridian Condo Floor plans on your computer:

• The Floridian condo Miami Beach Units Floor Plans

Or just browse those recent pictures and some great views from a 02 Line unit.

PAST TWO MONTHS SALES AT THE FLORIDIAN CONDO MIAMI BEACH

Click here to see more: http://www.celekt.com/condo/the-floridian-condo/#sale

This past quarter, we can count 11 Sales.

PENDING SALES AT THE FLORIDIAN CONDO MIAMI BEACH

(There is a large amount of Pending Sales at the moment. We can count 11 pending sales as of April 4th 2010)

THE FLORIDIAN CONDO MIAMI BEACH MAINTENANCE FEES FOR 2010

The 2010 budget brought down the monthly Maintenance fee by a few percents. We can say that the average is at $0.80 per square feet, this will adjust a bit depending on the unit and the floor.

Check out those 2 other condos somewhat similar to the Floridian Condo Miami Beach.

• The first one is the Yatch Club at Portofino located on Alton Road on SOFI
• The other one is the Waverly South Beach located on West Avenue north of the Floridian Condo.

LAST SALES IN THE PAST 2 MONTHS

PENDING SALES IN THOSE 2  CONDOS

(Contracts that have not gone to closing yet)

ML#	Status	Complex Name	#Beds	#FB	Address	Yr Blt	List Price	Sale Price	ADOM	REO	SSL	CD	SP$/SqFt
M1375409	PS	YACHT CLUB AT PORTOFINO	2	2	90 ALTON RD # 711	1999	449,000		22	N	N
M1352597	PS	YACHT CLUB PORTOFINO	2	2	90 ALTON RD # 902	1999	629,000		85	N	Y
M1365217	PS	Yacht Club at Portofino	2	2	90 ALTON RD # 1803	1999	456,390		66	Y	N
D1368454	PS	Yacht Club	1	1	90 ALTON RD # 2008	1999	439,000		109	N	N
M1349692	PS	waverly	2	2	1330 WEST AV # 709	2001	312,000		123	N	N
D1378467	PS	THE WAVERLY AT SO. BCH	1	1	1330 WEST AV # 712	2001	199,500		18	N	Y
D1329736	PS	THE WAVERLY AT SOUTH	2	2	1330 WEST AV # 1114	2001	299,000		5	N	Y
M1316457	PS	The Waverly Condo Of Sout	2	2	1330 WEST AV # 1709	2001	299,000		193	N	Y
F1037019	PS	THE WAVERLY	1	1	1330 WEST AV # 2105	2001	200,000		7	N	Y
M1363157	PS	WAVERLY	2	2	1330 WEST AV # 2204	2001	375,000		168	N	Y
M1367677	PS	waverly	2	2	1330 WEST AV # 2313	2001	385,000		18	N	Y
M1373717	PS	Waverly Condo	2	2	1330 WEST AV # 2607	2001	370,000		10	N	N
M1334412	PS	waverly	2	2	1330 WEST AV # 2804	2001	350,000		0	N	Y
D1368121	PS	Waverly South Beach	1	1	1330 WEST AV # 3003	2001	295,000		80	Y	N
M1372448	PS	The Waverly	2	2	1330 WEST AV # 3007	2001	519,000		21	N	N
M1318955	PS	waverly condo	2	2	1330 WEST AV # 3013	2001	399,000		69	N	Y

Celekt Your Lifestyle! at the Floridian Condo of Miami Beach!

Condos Real Estate Market Analysis in Miami-Dade as of March 2010

( Source South East Florida Association of Realtors)

• 16,424 Available condos for sale
• 5,124 Pending sales (31% of the available inventory)
• 6,123 are listed as Short Sales (37%)
• 598 are listed as REO “Real Estate Owned” (3.6%)

Miami Dade inventory

This graphic really shows us the trend in regards of the inventory and this should be the most important number to analyze in order to understand where the Real Estate market is going in Miami Dade.

Today, the condo inventory in Miami Dade  is 16,424 Available condos for sale. In the beginning of 2008, we were almost at 35,000!

The inventory in months went from a high 60 months of supply to less than 12 months with today’s numbers. The condo market is definitely coming back and this has not started a few months ago but has been following the same trend in the past two years in Miami Dade.

Take a look at the condo trend in Miami Beach. It is going in the same direction!!!

South Beach 33139 Inventory

Amount of Available Listings – Short Sales – REO’s by Main Areas:

By looking at those numbers, we can clearly understand that the Miami Area is really the most affected by economic difficulties. The amount of Short Sales Listed representing 46% of the inventory in the Miami area.

As of today 6,263 units are available in the Miami Area but we should notice that 2,307 units are Pending Sales or under contract.

Today,  are going to take a closer look at the Miami Beach Real Estate Activity in the past month.

To finish we will view the last pending sales in the South Of Fifth Area in South Beach also known as SOFI.

Miami Beach last sales in the past 30 days over one million dollars:

Apogee Condo South Beach has been the highest sale in Miami Beach Luxury Condos this past month sold at $3,200,000.

Murano Grande Condo and Green Diamond Condo also did well with 2  sales over a million dollars recorded in the past 30 days.

SOFI/South Of Fifth pending sales in the past 30 days:

Only 2 listings were Short Sales this past month. One at The Murano Grande and the other one at the Bentley Bay South Tower. No REO’s were listed as pending sales.

The buzz around town is that Lil Wayne’s Luxury Condo located at the  Murano Grande in Miami Beach is for sale since the beginning of February. Located right next door to Icon South Beach, the Murano is one of  the Top condominiums in SOFI.

This particular 4 Bedroom, 5.5 Bathroom of 4,000 Sq Ft  wrap around condo features a stunning 270 degree views of the ocean, Miami Beach, Fisher Island and downtown Miami. The view is spectacular from the three terraces of this 26th floor unit without forgetting direct access to the unit with a private elevator.

This unit is the Best Priced 01 Line 4 Bedroom at the Murano Grande Condominium. The average  price  per square Foot is about $700/sq ft. The listed price is a bit lower that what the owner paid in late 2007.

Coming back to the owner, is Lil Wayne really the owner?

According to Miami Dade records, the owner is Bryant Cortez AKA “Tez” in the Music Industry. He is Lil Wayne and Drake’s manager and Young Money CEO.

When all is said and done, Enjoy those gorgeous views from this unit at the Murano Grande Condo in Miami Beach:

5 BD/5BA+3HB 100′ Now $12,500,000

This incredible Waterfront Estate located on Sunset Island I at 1647 N View Drive in Miami Beach has been reduced by 2 million dollars since it has been listed in August 2009. The price reduction happened on February, 16th 2010.

1647 N VIEW DRIVE

Sunset Island One
Miami Beach, FL 33140
Price:$12500000
Beds:5
Baths:5
Parking:4
Year Built:2007
MLS:M1333934

This estate was purchased for $4,350,000 in April 2005.

As of today, there are 11 Properties listed on the MLS on Sunset Island I including this gorgeous Mansion. This listing is now the 3rd most expensive one on Sunset Island One after  “La Tranquilla” listed just under $30,000,000 and another listing at $13,800,000.

The last sale was recorded for Sunset Island one  in September 2009 for $9,500,000.  The mediterranean waterfront estate built in 2003 was listed at $15,900,000.