Search Listings
Price
Beds
Baths
Save Search
Register/Login
Contact Us Now
  • Email Us
  • ID: rossmiami
  • Phone: +1 305 788 1220

MIAMI AND THE BEACHES: RECENT TRANSACTIONS WEEK OF JULY 13, 2018

July 13th Real Estate Transactions

MIAMI AND THE BEACHES: RECENT TRANSACTIONS WEEK OF JULY 13, 2018

Week of July 13, 2018

Each week we bring you some of the most interesting waterfront property sales in the coastal areas of Miami and the beaches. This week includes recent sales at The Capri, Hibiscus Drive, the W Hotel & Mondrian in South Beach.                                                                                                                                                                                                                                                                                              

/vc_column_text]
[/vc_column]
1445 16th St #704/05  |  Miami Beach
4
3
2,179 SF
2008
$1,997,900
$1,903,544

$874/SF
186 days

Built in 2008, the Capri is a boutique luxury condo that is hidden on the bay in South Beach close to Lincoln Road and the Venetian Islands. One of the few luxury condos in Miami Beach with private docks, this building offers boaters and vacation home buyers the perfect island condo lifestyle. Listed for sale in November 2017 asking $1.99M, this property sold at 95 percent of asking price, which in today’s market, is an endorsement of this project and our local waterfront real estate. The Capri is not far from Lincoln Road, the pedestrian friendly shopping area with restaurants that include Meat Market, Havana 1957 and Sushi Samba.

110 N Hibiscus Drive  |  Miami Beach
4
4
2,684 SF
1946
$2,200,000

$1,480,000
$551/SF
633 days

The man made island of Hibiscus in Miami Beach was completed in the 1920’s by the US Army Corps of Engineers. It consists of approximately 60 single family homes on dry lots with an average lot size of 9,500 SF, and 90 waterfront single family homes with lots from 10,500 SF and up.

The sellers purchased this 1940’s home in October 2015 for $1.65M  and then looked to flip the property the following year with an asking price of $2.2M. After sitting on the market for 633 days, it eventually sold for $1.48M last week. Hibiscus Island is one of two semi-private islands located off of the MacArthur Causeway, located between Miami Beach and Downtown Miami and across from PortMiami where many cruise ships dock.

2201 Collins Ave #1509, Miami Beach  |  Miami Beach

1
1.5
836 SF
2009
$1,650,000

$1,250,000

$1,495/SF
550 days

One of the most popular condo hotels in Miami, the W Hotel South Beach continues to draw guests that want to be in the “scene” as well as families alike. The property offers some of the best amenities and venues to enjoy the beach, as well as a vibrant poolside with plenty of action to keep anyone occupied.

The seller of this one bedroom, 836 SF suite, purchased this vacation rental unit from the developer for a price of $1.35M in 2010 and sold the property for $1.25M this month. This condo was listed for 550 days and had an original list price of $1.65M. This section of Collins Avenue is beach front and home to many restaurants and nightclubs and  including Wall, Villa Azur, and The Bazaar by famed chef Jose Andrés.

1100 West Ave #1516  |   Miami Beach

 

2
2
1,190 SF
2008
$889,000

$662,500

$557/SF
741 days

The Mondrian South Beach was converted from a rental apartment building to a condo-hotel in 2007. Selling out at an average price of over $800/PSF, Mondrian owners have had nothing short of a bumpy ride. The hotel operator and independent investors (not in the hotel program) have been dealing with several issues over the years, including some severe rental regulations put in place post launching the project. This particular 2 bedroom direct bay facing unit, has traded FOUR times in the past 11 years with prices ranging from a high of $1.2M in 2007 down to this most recent sale at a low of $662,500.

South Beach is one of the world’s premiere vacation destinations for visitors or year-round residents who want to live like they are on vacation. West Avenue runs parallel to Biscayne Bay and features the Mondrian Hotel, the trendy Chinese spot The The Drunken Dragon, Fox Hole Sports Bar and a favorite tourist dining destination, Barton G, famous for their whimsical theme dishes.

2
2
1,214 SF
2010
$729,000

$615,000


$507/SF
393 days

Before the most recent condo development boom in Edgewater with multiple new projects, Paramount Bay was the most attractive residential condo in the area. The seller invested over $130k into this large one bedroom plus den (converted to 2nd bedroom) and with 393 days on the market, the property recently sold at $615k, a discount of 16 percent off the original asking price.

Midtown/Edgewater is one of the newest upscale neighborhoods to be developed in Miami. The Shops at Midtown include anchor stores such as Target and Homegoods as well as a row of excellent restaurants including Sugar Cane, Skorpios, Midici and Novecento.

If you’re interested in waterfront properties in Miami and Miami Beach, whether buying, selling, or just looking for more information, contact Ross Milroy to discuss! 

No Comments

Post A Comment