Douglas Elliman released their Q1 2019 Market Reports in South Florida.The South Florida Market reports showed price trends generally edging higher, although sales slipped and inventory slightly increased this quarter. The markets included Miami Beach and Barrier Islands,Fort Lauderdale , Boca Raton, Highland Beach, Delray Beach, Wellington, Palm Beach, Jupiter, and Palm Beach Gardens.
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Lower Penthouse In Fortune's Herzog & de Meuron-Designed Jade Signature Sells For $18.5 Million
A penthouse in one of the world’s top high-rises for 2018, created by Herzog & de Meuron the Jade Signature, sold for $18.5 million. The five-bedroom, seven and a half-bath residence closed for $2,015 per square foot.
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Douglas Elliman Releases Q4 Market Reports For South Florida
Douglas Elliman has released their Q4 Market Reports for South Florida, produced in conjunction with Miller Samuel a leading independent appraisal firm. The South Florida Market continued to show power in prices, continuing to increase in both the luxury and overall markets across nearly all markets including Miami Beach and Barrier Islands, Fort Lauderdale, etc.
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Concierge Auctions and ONE Sotheby’s International Realty to Sell $159 Million Florida Estate Without Reserve
Playa Vista Isle, a Neoclassical work of art, is spread out on five acres on one of the highest points of Florida's "Millionaires Mile," and is one of the most expensive real estate listings in the country at $159 million.
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Pitusa Signs a New Lease to Open Their First Flagship Store in Wynwood
Pitusa is a multimillion dollar, Peruvian-inspired clothing company founded in 2010, with the goal of providing high quality, affordable and comfortable beachwear.
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Fort Lauderdale Will Soon Be Home to Cincinnati Bengals Running Back Giovani Bernard
Architectural firm Choeff Levy Fischman is designing its first project in Fort Lauderdale: a sprawling mid-century, modern home - with a tropical twist. The home was purchased by Giovani Bernard of the Cincinnati Bengals in April 2018, and is expected to be completed next summer.
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Avra Jain and Dragonfly Investments Buy Another MiMo Motel
A partnership between Avra Jain and Dragonfly Investments, called Gold Dust 7700 LLC, just purchased a motel in the MiMo District – not far away from the Vagabond Hotel, also owned by Jain. Property records show they paid $6 million for Motel Blu at 7700 Biscayne Boulevard.
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Nukondo: Capturing the International Buyers Market in Miami
South Florida has and continues to be a hotbed for international buyers, according to the 2017 Survey conducted by the Miami Association of REALTORS. Foreign buyers purchased 15,400 residential units (between August 2016 - July 2017), totaling over $7.2 billion in sales in the Miami-Dade, Broward, Palm Beach, and Martin counties.
A new real estate tech company called Nukondo is attempting to capitalize on this market segment. Their app provides a platform for real estate developers and new construction brokers to stay informed on the latest luxury projects. It standardizes and distributes this information globally, so that buyers and their agents can decide which condominium is most suited for their needs.
After three months of beta-testing, Nukondo has successfully on-boarded 72 of the most prominent projects in Miami such as One Thousand Museum, Missoni Baia, and Turnberry Ocean Club, with over 10,000+ units in inventory. “Our app helps developers expose their projects globally 24/7, allowing them to speed up sales and cut marketing costs,” says founder Jorge Brugo. “Be informed when you’re searching for that special new condominium and make sound buying decisions.”
Nukondo exposes international buyers to the Miami and Florida markets and directs them to a condominium sales team. In Miami, these international buyers are primarily coming from:
1. Argentina: 15%
2. Venezuela: 11%
3. Canada: 11%
4. Colombia: 9%
5. Brazil: 8%
The company will move into its full release once user feedback and content curation have been finalized. The company plans to scale beyond its pilot market of Miami, into other major U.S. and international metropolitan cities.
Article by: Katya Demina & Stephanie Warren
Stunning Fisher Island Home for Sale for $14 Million
Imagine yourself living in a beautiful waterfront condo, located in the most expensive zip code in the country, at 7412 Fisher Island Drive. This two-story, 5 bed, 6.5 bath home is comprised of two units with a combined 6,298-square-feet of space. The home features magnificent indoor and outdoor living, impeccable custom his-and-hers closets, an opulent kitchen with a dine-in breakfast table and a scenic, bright ocean view along with private beach access. The exuberant home includes a hand carved wall of antique built-ins, custom made in India with an elegant natural stone color and intricate detail. This accessible unit offers a broad balcony that illuminates the pristine, oceanfront living, which is further accentuated by a relaxing salt water fish tank in the living room. The $250K equity membership fee opens up access to 216-acres of pristine paradise and exclusive amenities including, golf, tennis, dining options, a private beach and marina plus a fitness center and spa.
This extravagant home is listed by ONE Sotheby’s International Realty agent Elena Bluntzer for $14 million.
Article by: Katya Demina & Stephanie Warren