WALL STREET JOURNAL / PRIVATE PROPERTIES / FEBRUARY 20, 2009

SOLD for $8.58M in February '09: Il Villaggio PH 6/7, Private Rooftop Terrace, South Beach, FL

San Marco Island, Aerial View, Venetian Causeway, Miami, FL

Two waterfront homes were listed yesterday on San Marco Island, located on the western side of the Venetian Causeway, the historic bridge that connects Miami and Miami Beach:

• 1350 South Venetian Way is listed for $6.95M. The property was built in 2003; it has 7,991 SF of living space and is situated on a 12,250 SF lot.

• 1337 North Venetian Way is listed for $6.9M. The property was built in 2007; it has 5,859 SF of living space and is situated on a 12,250 SF lot.

Offering spectacular views of Biscayne Bay, seven other waterfront properties are currently for sale on San Marco Island including:

• 1374A South Venetian Way * is listed for $7.9M. The property was built in 2006; it has 7,880 SF of living space and is situated on a 12,250 SF lot. By the way, this property has SPECTACULAR views of the Miami skyline.

• 1215 North Venetian Way is listed for $7.9M. The property was built in 2003; it has 7,653 SF of living space and is situated on a 13,382 SF lot.

• 1384 South Venetian Way is listed for $6.8M. The property is under construction and is situated on a 13,382 SF lot.

• 1276 South Venetian Way is listed for $4.48M. The property was built in 1935; it has 3,788 SF of living space and is situated on a 10,500 SF lot.

• 1386 South Venetian Way is listed for $3.9M. The property was built in 1941; it has 3,286 SF of living space and is situated on a 13,380 SF lot.

• 1378 South Venetian Way* is listed for $3.4M. This is the only piece of waterfront, vacant land currently for sale on the island. The lot is 10,500 SF. The owner is amenable to seller financing!

• 1233 North Venetian Way is listed for $3.3M. The property was built in 1949; it has 3,864 SF of living space and is situated on a 13,382 SF lot.

*Listed by yours truly

At this point you are probably wondering what has sold on the island. In 2008 three of the twentyluxury waterfront homes that traded on the Venetian Islands were located on San Marco Island. The three transactions are the following:

SOLD for $6.25M in May '08: 1374B South Venetian Way, Miami, FL **

SOLD for $4.5M in April '08: 1215 North Venetian Way, Miami, FL

SOLD for $3.35M in May '08: 1239 North Venetian Way, Miami, FL**

**Sold by yours truly

Reduced to $7.495M on September 28, 2009

1374A South Venetian Way, Miami Skyline, Miami, Fl

So you went to the International Miami Boat Show and Strictly Sail Miami, and conundrum, you need somewhere to dock your new vessel?

I just reduced this HOT Venetian Islands contemporary home by a million dollars; it is now listed for $7.9M. Yes, South Florida’s luxury real estate market is on the move. Built in 2006, this waterfront property offers stunning views of the Miami skyline andBiscayne Bay.

1374A South Venetian Way, Entrance, Miami, FL

The light filled interior boasts soaring ceilings, gourmet kitchen with blue Bahia Brazilian granite counter tops + Viking appliances, lavish master suite with private terrace, media room, elevator, smart house system and more. Sexy rooftop terrace stacked with summer kitchen and panoramic views is perfect for BBQ’s and stargazing. Other perks include 3-car garage, full house generator and boat dock.

Il Villaggio PH 6/7, Private Rooftop Terrace, Miami Beach, Fl

Il Villaggio PH 6/7, Formal Living Room, Miami Beach, Fl

Flowers Just Won’t Cut It This Year, one New Yorker is stepping it up with a Miami Beach penthouse. Founder and CEO of Marchon Eyewear, Alfred Berg is surprising his wife this Valentine’s Day by purchasing Penthouse 6/7 in South Beach’s luxurious oceanfront condominium, Il Villaggio, located at 1455 Ocean Drive.

Seller, Scott K. Ginsburg purchased the direct oceanfront luxury condo pre construction in 1999 for $2.9M. He spent three and half years building out the 5,700 SF of raw interior space as well as the 4,600 SF private roof top terrace. A longstanding figure in the media industry, Mr. Ginsburg was the founder of Evergreen Media Corporation in 1988, co-founder of Statewide Broadcasting, Inc. and former CEO of Chancellor Communications, now a part of Clear Channel Communications.

This elegant penthouse offers sweeping direct ocean views from all rooms, wrap around balcony and spacious roof top terrace. Elegant yet opulent appointments are found throughout the unit including a custom designed circular bed in the master suite, Lalique chandeliers, coffered ceilings, crystal sinks, surround sound and gourmet kitchen. And that’s just inside, the outdoor space takes entertaining to another level with a complete stainless steel summer kitchen, heated ozone pool, shower, spa, stereo system and king size bed.

Il Villaggio PH 6/7, Master Suite, Miami Beach, FL

Located on the northeast corner of the building, this extraordinary penthouse property was originally listed for sale in 2006 for $18.5M. I took the listing three and half months ago for $13.9M. Mr. Berg closed on the property today for $8.58M. This deal is indicative of today’s luxury real estate market, a buyer’s paradise.

Located in the heart of Miami Beach’s Art Deco District, Il Villaggio is one of South Beach’s premier luxury condos. This full service property offers 24-hour security and valet, concierge, pool and private beach lounges with attendants, two-story fitness center, sauna, oceanfront promenade and community room. Other residents in Miami Beach’s Il Villaggio include: Hollywood filmmaker, Jerry Bruckheimer; CSI: Miami star, David Caruso; Bill Roedy, President of MTV Networks International; and Victoria Secret’s, Ed Resnick.