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MIAMI AND THE BEACHES: RECENT TRANSACTIONS WEEK OF JULY 27, 2018

miami beach marina

MIAMI AND THE BEACHES: RECENT TRANSACTIONS WEEK OF JULY 27, 2018

Week of July 27, 2018

Each week we bring you our transaction insights to waterfront property sales in the coastal areas of Miami and the beaches. This week includes recent sales at Sunset Harbour South condo in South Beach, the 1800 Club condo in Midtown Edgewater, a single family home in the Pine Tree Drive neighborhood of Miami Beach, and Asia condo located on Brickell Key in the city of Miami.

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sunset harbour south condo
2
2
1,220 SF
1998
$910,000
$857,000
$702/SF
184 days

 

On the market for 184 days, this direct bay facing condo sold for 94 percent of the asking price. Sunset Harbour North and Sunset Harbour South were developed in the late 1990’s when this area was predominantly occupied by light industrial and commercial businesses.

Today, Sunset Harbour is one of the most dynamic neighborhoods in South Beach. Located directly on Biscayne Bay, Sunset Harbour is an all-encompassing community that puts activity and the outdoors at the center of your life. With everything from a full service marina, Sunset Harbour Yacht ClubMaurice Gibb Memorial Park, paddle boarding, and more. NaiYaRa, Pubbelly Sushi, Fresh Market, Purdy Lounge, and Sardinia are all within 2 blocks of each other, as well as Barry’s Bootcamp, Anatomy, or FlyWheel to work it off.

3738 Pinetree Drive  |  Miami Beach
4
4
3,647 SF
1940
$3,495,000
$2,150,000
$590/SF
583 days

This property was put on the market in late 2016 and finally sold this week after 583 days on the market. With an original listing price of $3,495,000, the buyer purchased the property at a significant discount of 62 percent to the list price. The seller purchased this home in 2011 for a paltry $900,000.

The Pine Tree area is considered one of the most attractive neighborhoods in Miami and Miami Beach. Pine Tree Drive runs north to south from 23rd street to 63rd street and features a select number of waterfront estates as well. With a number popular schools and community venues in the area, in particular North Beach Elementary, plus a commercial corridor along 41st street (aka Arthur Godfrey Rd), and ease of access to the city and airport via the Julia Tuttle Causeway (I-195), it is easy to see why John Collins was developed this area in the 1920’s.

3
3.5
2,065 SF
2008
$2,000,000
$1,790,000
$867/SF
255 days

Developed in 2008, this 3 bedroom, 2,065 SF waterfront condo at Asia Condo is considered to be the most upscale of several condominium buildings located on Miami’s famed Brickell Key.  The seller purchased the condo at a price of $,1650,000 in 2013. Swire Properties started developing Brickell Key in the early 1980’s and today it is considered one of the most desirable neighborhoods with over 2,800 condominiums, retail, offices and the Mandarin Oriental Miami on the island.

Brickell is a favorite of young professionals because of its abundant choices of bars, restaurants and shopping – all within walking distance of many residential high rise condos and office buildings. Highlights include Brickell City Centre, Bazaar Mar by José Andrés, Komodo, and Zuma in the Epic Hotel.

3
3
2,189 SF
2007
$975,000
$935,000
$427/SF
164 days

The seller purchased this property from the developer at a price of $700,000 in early 2008. With an original list price of $975,000, the property sold after 331 days on the market for $935,000.

1800 Club condo sits directly opposite Margaret Pace Park, an 8 acres bay front city park that is dog friendly, a major cornerstone of this community.  This southeastern corner of Edgewater has come a long way in just a few years and is now a very desirable location for local residents with a new Publix shopping center within two blocks on Bayshore Drive.

The trendy areas of Edgewater, Midtown Miami, Wynwood Arts District and the Miami Design District, have quickly emerged as the next center of cultural, arts, commercial and residential growth just outside of the Downtown Miami district.

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