Posts

, , , ,

Miami Shopping Malls

Miami-Design garage

Miami-Design garage

Miami Shopping Malls

Miami is unique and full of paradoxes: A city chosen by the old to retire and by the young to party. A place where people do business in shorts and 12 year olds wear legitimate Chanel handbags. The land of  beach parties and everyday multimillion dollar transactions where Bentleys coexist with skateboards and a new sophisticated art scene  born in the reign of the kitsch makes a mark in the world.

Miami shopping keeps adding to the list of breaking US records. We are quickly climbing the ladder of the top 5 in many areas, from the number one cruise capital to the most active airport. But without doubt, the most salient feature of Miami culture is a special emphasis in shopping, so we are also breaking records with the mall that sells the most per square foot (Aventura Mall) and now the largest shopping mall in the country: American Dream Miami Mall. The land deal for 82 acres in NW Miami Dade County by Interstate 75 and Florida Turnpike just closed, and Triple Five Group is moving to the next stage in the process of bringing to life this mega mall and theme park. The entire project is 225 acres, impressive size even for Miami shopping standards!

Bal Harbor Shoppes which used to be “the” destination for shoppers that walk in Louboutin shoes is expanding to keep up with the fierce competition for the attention of the privileged few, who are not so few in Miami any more. Aventura Mall has the largest Cartier store in the country along with many other luxury designers. Brickell City Center will allow the financial private banking crowd to shop without leaving the area. The Design District, an open shopping mall valued at $2.2 billion  has a hard to match glamour for those who prefer the outdoor Latin and European shopping style. After all, the temperature is irrelevant when you are wearing Hermes and parking at a garage that is a piece or architectural art. The Design’s District 283,000 ft City View garage wows shoppers from the moment they park  with two public art pieces by John Baldessari and a jaw dropping facade by Leong Leong and Iwamoto Scott.  And of course, for the bargain hunters there is always Sawgrass Mall.

The impact of Miami Shopping goes far beyond a fashionista dream, bringing jobs, infusing life and potential to the real estate around it and creating interesting possibilities for developers and investors. Whether you wear Prada sunglasses or not, if you are serious about investing in Miami real estate, Miami shopping trends are something to watch…

Contact us at buymiamirealestate@gmail.com and let’s discuss intelligent options for real estate in Miami.

, , ,

Miami Design District properties: from dingy warehouses to $2.2 billion premier luxury retail mall

Miami Design District

Miami Design District

Design District properties: from warehouse district to $2.2 billion luxury mall

Blackstone group has secured a $600 loan for a luxury mall at the Design District. According to Reuters, Bank of China will provide $250 million while Blackstone will provide a $100 million mezzanine loan. Deutsche Bank and Credit Agricole will split the balance.

A partnership which has luxury mogul  Louis Vuitton Moet Hennessy at its core is building 1.2 million square feet of retail space across 20 buildings in the Design District. Half of the 120 stores in the plan have opened in 2014, and it is already impressive with Louis Vuitton, Cartier and Piaget stores around a glass courtyard with a sculpture by Buckminster Fuller.  But you should hold your jaw from dropping until you see the full project completed by 2016, valued at $2.2 billion…that’s a lot of luxury va-va-voom. 

Design District properties have shown again that the true magic kingdom is not Disney’s but Miami’s. An area that was not long ago a bunch of ran down warehouses where you would not even get out of your car after sundown is now one of the most glamorous spots you can imagine. The value of Design District properties has increased astronomically adding in many cases more than one zero.  The big question for real estate investors appears to be “where will these visionaries go next?”, but the real question is “do you have the guts to follow them?”. Keep in mind that when they started, there was absolutely nothing there indicating that this could become the trendiest luxury hub. It takes deep pockets or a gambling nature and an adrenaline personality to embark on that sort of risk, but although serious money is necessary to buy Design District properties now, you can still find interesting deals in the immediate surroundings. Counting on the expansion of the Design embracing its outskirts seems like a pretty conservative bid.

If you are interested in more information about Design District properties and its surroundings, as well as other upcoming areas contact us now. Don’t let opportunity pass you by: 786-251-9513  buymiamirealestate@gmail.com

, ,

Philly steak omelette gives place for first Sunny Isles Beach new construction on West side of Collins

Sunny Isles new construction West side

Philly steak omelette gives place for first Sunny Isles Beach new construction on West side of Collins

For decades, tourists crossed Collins in shorts and sun huts from the beachside motels to Denny’s for breakfast or lunch. But, as the oceanside of Collins Ave has changed into ultra luxury new construction, the new residents are more interested in oysters and other delicacies than in 2000 calorie cheap meals. It was just a matter of time before such a valuable piece of land turned omelettes into 1 million dollar condos.

The Verzasca group will build a 19 story luxury tower with a slightly lower price point considering buyers will have to cross the street to enjoy the ocean so instead of $1,500 a foot, they are planning on selling the 76 units at $1,000 a foot. Architect Luis Revuelta is in charge of wowing us with the design.

It’s a matter of time before the trend extends as a tsunami washing away other sites on the West side to bring more luxury towers and high end retail. Its hard to imagine that the residents of a $5 million condo will be interested in buy one get one free at Payless Shoes.

With the walkable trend growing fast in Miami, the composition of the whole are is destined to change. Sunny Isles is in serious need of fancier office space, high end retail and restaurants to cater to the new high caliber population. Even though Sunny Isles Beach new construction is right between Bal Harbor shops and Aventura Mall, traffic is a nightmare that requires some good relaxation music and deep breathing. Walking across the street for some last minute urgent Louboutin shoes would be a much welcome change for the new crowd.  A new Design District across from the ocean would be a better match, the question is, who will be the visionary starting it?

Want to have a pie de terre in this paradise? Contact us at buymiamirealestate@gmail.com for more info on Sunny Isles Beach new construction

,

Do you really need me? no…but if you are smart, you want me

Oceana Bal Harbour pool

Do you really need me? no…but if you are smart, you want me

You probably have asked yourself many times if you really need a Realtor. Through the magic of internet you now have access to so many websites and portals that “do it yourself real estate” is a possibility. But why wouldn’t you want to work with a savvy professional that can advise you, do the search with you, help you analyze the pros and cons and even find information you maybe didn’t even know you needed to make an informed decision? If you are a buyer, the professional service of a Realtor costs you nothing, so you can have someone represent you, do research, negotiate, and follow up on every step of the transaction for no cost to you at all, zero, nada. If you ever met someone online and then found that in person he or she was 20 years older and 20 pounds heavier you have an idea of the picture…no difference with a property. Real estate is a serious thing, probably the largest investment you will ever make so why not use all the help you have available? Have you ever thought of checking the financial stability of a building? Do you know who to call for an inspection or who should pay for what in a transaction? How about checking the history of the property, past sales, taxes, etc?

If you are a seller, there are many sites where you can list your property online by yourself. But as the story of the CEO of “For Sale by Owner” clearly showed a few years ago, a Realtor can make you more money and sell it faster. He had his own condo for sale for months and finally listed it with a realtor who made him a few hundred thousand more even after commission. Can you cut your own hair, pull your own teeth or fix your roof? Of course, but why would you, especially if you want to look good, smile and stay dry. Selling your property is more than opening the door and showing it, and even if you are good at marketing and negotiating, what is the cost of the time you are taking away from your own job? Do you have the power to access the amount of people necessary to get a buyer?

You may have bought or sold a few properties in your lifetime, but twenty years of experience in real estate in Miami mean a lot of transactions closed and problems solved. So, do you really need me? no…but if you are smart, you want me.

Contact us at buymiamirealestate@gmail.com or call 786-251-9513 and 305-788-2878

, ,

Condo sales in Miami level while homes go up

the bond 4

Condo Sales in Miami level while homes go up:

Condo sales in Miami and the tri- county area (Miami, Fort Lauderdale and Palm Beach) are leveling and that is a good thing. We have all suffered “the morning after” crash to reality after the hipe of the real estate party years ago when the market collapsed. What seemed an unstoppable train of rising prices and flipping frenzy turned into a panicky stop. Now, after the painful recovery, it seems we have all learned a thing or two. At least the market is saying so with numbers and stats. We have come a long way in the recovery and prices are getting to pre-bubble times but this time around catching the breath and slowing into a normal healthy level. Healthy enough to allow appreciation and avoid flipping madness.

There were 3,371 condo sales in Miami and tri-county area in February, up from 3,142 sales in January and up 0.1 percent compared to same period in 2014. The median price, however, was up 4 percent year-over-year to $145,750. Now remember these figures encompass all of the tri-county area from hot Brickell to areas like Homestead or Lantana so don’t expect to find an oceanfront condo in Sunny Isles Beach at this price (though we can find you some pretty good deals).

Single family home sales in the tri-county area went up 17.9% from last year and median price in January was $260,000 which means homes are catching up to condo sales in Miami. This is an indication of organic growth of the local market (condo sales in Miami are a mix of vacation, investment and permanent use while homes tend to be mostly permanent).

If you are a runner, you know that you can train your endurance and run a little further every week, but if you don’t level at some point you will eventually hurt yourself and come to a painful stop. It looks like condo sales in Miami have finally learned the proper care for a healthy long run.

If you are interested in learning more about condo sales in Miami and buying a property contact us right away, we know the market, we can help: call 786-251-9513 or email buymiamirealestate@gmail.com

, ,

Size matters…American Dream Miami

american dream miami

American Dream Miami

Developer Triple Five, builder of the largest mall in the US announced he plans to outdo himself in Miami with a four million square foot project called American Dream Miami. Miami Dade commissioners approved the project 11-2.

American Dream Miami is planned to have a huge theme park with water slides, a ski slope and submarine tours, and will be located where I-75 intersects Florida’s Turnpike near Miami Lakes. Triple Five needs an 82-acre parcel that’s owned by the state. The county would buy the land as an intermediary for the developer. Commissioners approved the $12 million needed for the county to purchase the land from the state. Not all is a bed of roses, if the developer fails to create at least 7,500 jobs, (let’s say if he can’t get the necessary zoning or regulations for the mall) he risks a $5 million fine.

According to Miami Herald,The Miami-Dade County school district will get $7.2 million to give up a lease of about half of the 82 acres, in addition to a $1 million contribution to academic programs and internships for students.

More jobs, more money for schools, and another mega destination for local and tourist shopaholics of the world makes this an interesting proposition within the frame of a strong market that seems to find a way to continue growing, using an advantage that few other important cities in the world have: an expanded geographic area. Think Manhattan for example, there is a very limited supply of land. Miami, on the other hand, is a conglomerate of different cities and areas that allows for an unusual potential for expansion and growth. Oceanfront properties are a limited resource of course, but areas like Weston and Sawgrass, and probably soon American Dream Miami are living proof that locals and foreigners are willing to go inland and enjoy the weather from their pool, go golfing, shopping, wear flip flops all year round and be part of the Miami dream.

There are so many possibilities if you are looking to buy a property in Miami that you need a trusted expert in the field, so don’t be shy…call us and we will help you find the perfect one!