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Situated on the top floor of the W South Beach, this three-bedroom, three-bathroom Penthouse will enthrall new owners with miles of unobstructed views of Miami Beach’s pristine beaches and majestic skyline. The sunny 2,647 square-foot luxury condominium has a private pool and rooftop terrace with an expansive 3,300 square feet of combined exterior space including the terrace and rooftop areas. The $10 million home is part of one of Miami’s most exclusive hotels offering owners a combination of excellent service, amenities and privacy.

The living room and kitchen boast 11 foot ceilings and lead to a large outdoor terrace ideal for entertaining visitors. Guests can soak in the sunset and sunrise from their individual balconies and of enjoy the privacy of having their own bathroom. The spacious master suite is also adorned by a private balcony and benefits from a large walk-in closet, marble bathroom and private entrance.

The elite homes comes with a plethora of indulgences from an array of luxury amenities within the hotel including a spa, two restaurants, three bars, tennis and basketball courts and outstanding service while lounging on the beach or pools. The resident will also be able to take advantage of the great weather to walk to the Bass Museum, the Miami Beach Public Library, the Miami City Ballet or stroll to Miami Beach’s most revered shopping and fine-dining establishments on Lincoln Road.

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The stunning, top-floor, Four Seasons Penthouse 70F was sold this week to a highly-recognized professional European tennis athlete for a record-breaking $5.2 million with over $1500 per square feet (as per Miami-Dade tax records). The elite 70th floor, 1425 Brickell Avenue Penthouse is located in one of Miami’s most exclusive residences, combining the superior service of a luxury hotel with the privacy of an independent home. The Four Seasons is the tallest building south of New York.

The distinguished owner of the gorgeous four-bedroom, four and one-half bathroom penthouse will indulge in an impressive array of luxurious amenities from two restaurants, 24-hour concierge service, to an expansive menu of spa treatments, to daily housekeeping. In addition, the owner will enjoy the hotel’s recreational amenities including two swimming pools, the Palm Grove lounging pool and an LA Sports Club gym membership to name a few.

While the large master suite is equipped with a room-sized bath and a balcony that offers fabulous views of Biscayne Bay, Key Biscayne, Fisher Island and Miami Beach, the residence also has three generous sized-bedrooms on the southeast corners with glorious views of the sunrise and sunsets.

The prestigious residential condominium in Miami is only footsteps away from the city’s most celebrated business, shopping and cultural districts-making this the ultimate expression of upscale city living.

This past weekend, CBS4’s Entertainment Reporter, Lisa Petrillo, launched a new segment called “Living Large”, featuring some of Miami’s most luxurious homes. The charming Lisa Petrillo kicked-off the segment with the stunning seven-bedroom, 22,000 square foot, $45 million 12 Indian Creek Drive home. Currently the highest priced, single family home in Miami-Dade County

The short, detailed video displays the home’s multifaceted amenities including large sunny living areas, the large-scale kitchen equipped with two refrigerators, three ovens and a built-in espresso machine for all those coffee lovers, a 10-seat theater with acoustic tiled walls, a french-designed elevator and a massive master suite that occupies the entire length of the home from front to back with glorious wide bay and sunset views!

Lisa was particularly impressed by the master bedroom’s large, custom-made closet intended for an owner with a fascination for shoes. The accompanying “her” bathroom contains a copper soaking tub surrounded by mosaic tiles and a perfect view of the Indian Creek Golf Course.

Next, Lisa visited the bottom floor filled with an array of entertainment including a billiard room, a Moroccan room with a humidor and a wine cooler and a fully equipped gym, for those looking to stay in shape for Miami’s all-year round pleasant weather. wolfe

Lastly, the exclusive guest visited the backyard built with an infinity edge pool that sits directly in front of the  gorgeous wide bay view. A poolside cabana is equipped sauna, steam, massage room and large community shower.

The high end real estate market is on fire and it’s making a comeback!  The inventory levels are low and decreasing daily so, now may be a great time to buy!

Award-winning actor, Matt Damon, is selling his beautiful Miami Beach 12,705-square-foot home for $20 million with hopes of earning $5 million from the sale.

The sprawling home at 6020 North Bay Road features seven bedrooms, nine full baths and a two-bedroom guest house with a roof terrace. The Guest House is also equipped with a gourmet outdoor kitchen to entertain and soak in magical, panoramic views.

The lux amenities have been fitted for the Oscar-winning actor and his family which includes a home theatre, custom office, and spacious master bedroom suite with a spa bath and private terrace.

The gorgeous Mediterranean-style estate is sited on a double lot covering 43,000 square feet with 170 feet overlooking Biscayne Bay. The list of elites living on famous North Bay Road include Miami Heat’s Dwayne Wade and Chris Bosh as well as New York Yankee Alex Rodriguez.

The 42-year-old actor settled in sunny Miami Beach after meeting his Argentine wife, Luciana Barroso, in Miami while he was filming “Stuck on You”. Public records show Mr. Damon purchased the home in 2005 and as two separate purchases; first at $10.3 million and second at $4.2 million.

If a buyer wanted more land, we have an additional vacant lot at 6010 North Bay Road for sale for $6.95 million with 21,228 square feet and 85 square feet on wide Biscayne Bay making the entire property nearly 65,000 square feet and over 250 feet of prime water frontage!

The combined land would make the property quite a bit more attractive and unique as it is very difficult to find such a large lot on Miami Beach these days!

Images from realty.com

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3 Indian Creek Drive

2012 is shaping up to be a historic moment for South Florida’s residential market, 3 Indian Creek Drive closed this week for $47,000,000, trumping Miami Dade’s record sale of 14 Indian Creek Drive earlier this year. Investing 1,698 days on the market, local speculators Felix Cohen and Shlomy Alexander intended to add a product to the luxury residential landscape that had yet to be built in Miami, they purchased the vacant land located at 3 Indian Creek Drive in May 2007 for $10,306,400. Engaging local architect, Rene Gonzalez, collectively they turned out a winner. Complete with all the 21st Century bells and whistles this two acre tropical dwelling offers 200ft. of Biscayne Bay water frontage, 10 bedrooms and 14 bathrooms distributed over 30,000sf of living space and a certified green house designation.

Available Inventory: Indian Creek Island

• 12 Indian Creek Drive asking $45,000,000
• 17 Indian Creek Drive asking $38,000,000
• 38 Indian Creek Drive asking $15,900,000

Available Inventory: Trophy Condos

• The Setai Miami Beach: 101 20th Street PHV-B asking $36 Million…a FLIP from 2010
• Continuum South Tower: 100 S Pointe Drive #3603 asking $35 Million
• One Bal Harbour: 10295 Collins Avenue #2604 asking $38 MIllion

2012 Condo Record Breakers

• The Setai Miami Beach: 101 20th Street PH A sold for $21,500,000
• Continuum South Beach: 100 S Pointe Drive Triplex (floor 40-42) sold for $25,000,000
• St. Regis Bal Harbour: 9703 Collins Avenue combo unit sold for $24,600,000

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14 Indian Creek Drive

Conceived in the late 1990′s by the extraordinary Belgian designer, Axel Vervoordt and architect, Joe Brennan, 14 Indian Creek Drive represents the austere Palladian grace of another time while maintaining a modern decadence aptly befitting a $40,000,000 property in sunny south Florida. Completed in 2002, this estate occupies 2.71 acres on Biscayne Bay and offers 17,000SF of living space. Currently hedge fund manager Edward Lampert has it under contract; the transaction will be the highest residential sale for Miami Dade County to date.

AVAILABLE: INDIAN CREEK ISLAND

• 3 Indian Creek Drive: Built in 2010, this slick, contemporary home recently had a significant price reduction from $60,000,000 —> $52,000,000.
• 2 Indian Creek Drive: At the moment, this 80,000SF lot is the only vacant land available on Indian Creek Island, asking $16,900,000, this property offers the largest residential boat dock in Miami Dade County. *

SOLD 2011-12: INDIAN CREEK ISLAND

• 4 Indian Creek Drive: This 80,000SF parcel of vacant land closed for $15,000,000 in July 2011. *
• 18 Indian Creek Drive: This 4Bed/4Bath home closed for $14,500,000 or $1,922psf  in July 2011.

*My exclusive listing

Last week Netscape Founder Jim Clark sold his Setai penthouse for $21,500,000 ($3,704) which he purchased-decorator ready-in 2004 for $9,000,000. Clark transformed this two story residence into an opulent Southeast Asian retreat. This trophy property was listed for $27,000,000 in April 2010.

101 20th Street PH A

• 3Bed 2.5Bath
• 5,803SF Interior Space
• 9,558SF Interior and Exterior Space
• Private Rooftop Pool
• Private Summer Kitchen
• 4 Reserved Parking Spaces
• Direct Ocean Exposure

This transaction is another sign that the Miami Beach luxury market is thriving and the inventories at the top are razor thin. The trend for 2011 high end sales: they are exceeding prices fetched in the most recent boom years of 2005-2006 .

Aerial View: 94 La Gorce Circle, Miami Beach, FL

Rap star, Lil Wayne, went from tenant to home owner closing on 94 La Gorce Circle earlier this month for $11,600,000. After leasing the property for about one year, spending $65,000 per month in rent, Mr. Wayne cut a fair deal at $768psf. Prior owners of the 94 La Gorce lot include: a relative of Julio Iglesias’ and former Peoples’ National Bank of Commerce exec, Sonny Wright. The waterfront estate, located on the east side of this guard gated Miami Beach island, is relatively new construction.

94 La Gorce Circle:

• Living Area: 15,101SF
• Lot Size: 20,857SF
• Water Frontage: 120FT
• Bed/Bath: 9/9 (plus 2 half baths)
• Built: 2004

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Facts and Trends: Miami-Dade Condo Inventory 2003-2011

MIAMI BEACH, the small universe where I conduct business, the high end properties with the best addresses sold briskly during the first quarter of this year.  Five sales were recorded just on Star Island during the past two months, three of which closed over $10,000,000.  A record high of $25,500,000 was fetched for 13 Star Island Drive. Yes: inventories are dissipating, multiple offers are being received and nobody is building anew (yet).

SINGLE FAMILY HOMES

Lower North Bay Road, below 31st Street, has also been a HOTSPOT, with five homes going under contract or closing recently.  Most of these properties were bought with the intent to re-model or tear down for new construction by end users. Former Miami Heat center, Rony Seikaly’s, home is the exception, it traded in turnkey condition in December 2010 for $11,500,000. Today, 3114 North Bay Road is the only waterfront home available. Asking $4,500,000, the sellers are close to being permitted for a complete rebuild, which is motivating them to take it off the market temporarily, construct and re list a brand new modern home for $15,000,000.

CONDOS

The Miami Beach condo market is also thriving with inventories down and prices on the rise.  The ‘sun seekers’ have stayed in the game purchasing ocean and bay front units in the primest buildings including the South of Fifth and the Collins Park neighborhoods. Apogee, the youngest tower South of Fifth,  just unloaded one of its three penthouses for $11,500,000.  Originally listed for $22,000,000, this is a significant transaction for the Miami Beach condo market despite the incredible discount. A four bedroom, direct ocean front unit closed two weeks ago for $10,500,000 in the south tower of the Continuum. I sold a pied-a-terre at the Setai in March for $2,200psf, that’s a weighty number.

The buyer’s are international and domestic alike.  They realize that the market bottom has been reached and Miami Beach is a world class resort offering the best values in the United States if not globally. The price is right, the weather’s great, beautiful beaches and a growing sophistication!

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13 Star Island Drive: Entrance

Located in the guarded island enclave, steps from South Beach, 13 Star Island Drive closed today for $25,500,000. Listed at the end of January 2011 for $32,000,000, this property was on the market for less than 60 days when it went under contract by a Russian oligarch.  Seller Tom Morgan purchased the tear down in 2000 for $3,700,000 and developed a 15,000 SF  luxury residence which was completed in 2003. Sited on a 40,000 SF lot, the property offers 100′ of Biscayne Bay frontage with western facing exposures of the Downtown Miami skyline.

Available on Star Island:

• 5 Star Island Drive: offered for $49,995,000. 40,000 SF lot / 11,308 SF interior. Built in 1996.
• 15 Star Island Drive: offered for $14,900,000. 40,000 SF lot / 8,699 SF interior. Built in 1986.
• 29 Star Island Drive: offered for $21,000,000. 40,000 SF lot / 10,160 SF interior. Built in 2000. Home of fashion designer, Donald Pliner.
• 28 Star Island Drive: (vacant land) offered for $7,900,000. 40,000 SF lot.
• 30 Star Island Drive: (vacant land) offered for $8,900,000. 40,000 SF lot.
• 40 Star Island Drive: offered for $27,000,000. 87,991 SF lot / 9,854 SF interior. Built in 1925.

2011 Sales on Star Island:

• 35 / 36 Star Island Drive: (vacant land) 80,000 SF lot closed for $12,250,000 on 2/25/11.