MIAMI BEACH'S VENETIAN ISLANDS: 122 W DILIDO DRIVE SELLS FOR $2.8M THIS WEEK

Just SIXTY days on the market, and this Venetian Islands property located at 122 W Dilido Drive fetched $2.8M. That’s $780SF,  which during the long hot days of summer, I’d say is pretty cool! This calendar year, there have been FOUR closed sales of waterfront homes on the Venetian Islands, averaging $767SF.

VITALS ON 122 W DILIDO DRIVE:

• Lot Size: 10,500 SF
• On the H2O: 60′
• Living Area: 3,586SF
• Built in 1937

W SOUTH BEACH HOTEL & RESIDENCES

Scheduled to open July 2, 2009, the W South Beach Hotel and Residences hosted an affair for new company associates last week at the semi completed property located at 2201 Collins Avenue in Miami Beach. Shiny Ferrari’s adorned the building’s entry on 22 street, music was pulsing poolside as the W culture mingled under the moody lighting through the many lounging spots inside and out. One W employee commented that the event was an effort by the W to provide new hires with the “W experience.”  Will the W a la South Beach be a recessionario or recessionista for the brand?

Stay tuned for the opening, the elevators are not yet operational, so no report (images), YET, on the hotel rooms and units. In the meantime, a little eye candy courtesy of my Blackberry.

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PRIVATE ROOFTOP POOL: APOGEE PH A/800 SOUTH POINTE DRIVE MIAMI BEACH, FL

Apogee, as its name suggests, is the benchmark for luxury condo living in South Beach. Completed in 2008, the contemporary building is comprised of 67 residences ranging in size from 3,000SF to almost 7,000SF.  Located on 2.88 acres at the tip of the island in the South of Fifth neighborhood, Apogee was developed by the Related Group of Florida and designed by the Sieger Suarez Architectural Partnership. Elegantly conceived, each residence has ultra finishes by Yabu Pushelburg, Fanke, Miele and Dombracht as well as breathtaking views of the Atlantic Ocean, Biscayne Bay, South Pointe Park, the Port of Miami or Miami’s skyline.

One of Apogee’s three penthouses was listed for sale in July 2008 for $22M. Today, Penthouse A, like most real estate listings, was reduced to $18.5M. This year, several penthouses have sold as a result of price reductions in South Beach including units in Il Villaggio and Continuum I. In addition to PH A, there are 18 units currently offered for sale in Apogee.

PROPERTY HIGHLIGHTS:

• 6,853SF living space (under air)
• 6 bed, 7 1/2 bath
• 11,000SF of outdoor space (terrace and balcony)
• Private rooftop pool
• Private elevator
• Private air conditioned 2 1/2 car garage
• 22′ ceilings
• Tri-level (two floors of under air living space)
• Summer Kitchen
• 360-degree panoramic views

Images of Apogee:

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EXTERIOR VIEW: 100 SOUTH POINTE DRIVE PH 1 MIAMI BEACH, FLORIDA 33139

On the market for 562 days, Penthouse 1 at the Continuum I South Tower just closed today for $9.9M. This direct oceanfront residence, originally listed for sale in March 2007 for $25M, like everything in the market place, was reduced. In December 2007 it was offered for $21M. Asking price at the time of sale was $14.95M.  The seller paid $7M for the property in 2003, when the Continuum I, the first beachfront condominium in South Beach’s South of Fifth neighborhood, was completed.

Property Highlights

• Tri-level unit
• 5 bed
• 7 1/2 bath
• 7,734 SF (under air)
• 13′ ceilings
• Private elevator
• Private rooftop pool
• 4 parking spaces

INTERIOR: 100 SOUTH POINTE DRIVE PH 1

CONTINUUM SOUTH TOWER: 100 SOUTH POINTE DRIVE

ALTOS DEL MAR BEACH HOUSE: 7725 ATLANTIC WAY, MIAMI BEACH, FL 33141

OCEAN VIEW FROM ALTOS DEL MAR BEACH HOUSE: 7725 ATLANTIC WAY, MIAMI BEACH, FL 33141

Is it a dream of yours to to live in a luxurious beach house in Miami? If so, today is your lucky day, I have the exclusive listing for twelve residences in the historic Miami Beach neighborhood of Altos del Mar, which are currently under construction. Reside in a new beachfront property located ten minutes south of Bal Harbour Shoppes.

One of these homes, located at 7725 Atlantic Way, will be a Bermuda style structure conceived by esteemed architect Ramon Pacheco and the stylish  interiors done by NuHouse Design. This particular property is scheduled to be complete in the last quarter of 2010.

Property Highlights Include:

• Lot size: 16,000 SF lot
• Living area: 6,400 SF (9,950 SF gross space)
• 5 Bed
• 6.5 Bath
• 2-Car Garage plus Carport
• Gym
• Game Room
• Library
• 3 fireplaces
• Summer Kitchen
• Generator

[View with PicLens]

CAPRI SOUTH BEACH

My EWM Realtors colleague, Pablo Alfaro, and I just took the exclusive listing of the recently completed, luxurious development, Capri South Beach. Imagine taking in glorious panoramic views of the Miami Skyline and Biscayne Bay, the Intracoastal Waterway and the Atlantic Ocean while residing on two waterfront acres just steps away from Lincoln Road. I am describing Capri South Beach, the exclusive condominium comprised of two newly constructed buildings and one historic structure, secluded at the western most point of Miami Beach’s 16th Street on 500′ of water frontage. A true boutique development, the sixty-nine luxurious residences, private marina, fitness and spa facility, 24 hour security and valet make Capri South Beach the most desirable bayfront community on the island.

Ana Capri, the southern most building, is the smallest of the three, with only five units each occupying a floor.  With stunning views of the Miami Skyline to the west, entry to each unit is via private elevator. Each apartment offers 1,798 SF of living space with 3 bed and 2.5 bath.  The upper and lower penthouses closed in February 2009 for $2.379M and $2.362M respectively.

Marina Grande, the largest building, located in the center of the property, houses fifty-eight units, five per floor with the exception of the penthouse and ground floor levels. There are three penthouse units on the top floor, while the street level offers two Bay Lofts. A state-of-the-art gym and spa facility is located in Marina Grande.

Marina Piccola, the historic component of this project, was originally designed by Igor Polivetsky in the first half of the twentieth century. It  is the northern most point of Capri South Beach. Three floors make up this sixunit building. Also located in this area of the property is the private marina and bayside pool.

VIEW OF BISCAYNE BAY FROM CAPRI SOUTH BEACH

Nestled between Bal Harbour and Miami Beach, Indian Creek Village is a private island comprised of 300 acres, and home to an affluent community with thirty two waterfront estates. Also on the island, is the private and exclusive Indian Creek Country Club, which has one of the oldest and beautifully secluded clubhouses in Florida, built in 1929 by architect Maurice Fatio. Occupying the interior landscape is the Club’s 18-hole world class golf course designed by golf architect,  William S. Flynn in 1930. Known for its high security, the community founded the Indian Creek Village Public Safety Initiative in 1994,  employing its very own police department which apart from safeguarding the land, provides 24/7  police patrol by boat, maybe the only one of its kind, protecting Indian Creek Island residences from Biscayne Bay.

I just listed 22 Indian Creek Drive for $12.9M. Located on the south side of the island, this property has not been offered for sale since 1972, when it was purchased by Martha and Arthur Appleton for $300k. Mrs. Appleton, Martha O’Driscoll, was a Hollywood starlet in the 1930’s and 1940’s. Appearing in more than thirty seven films, she was one of the first to play Daisy Mae in Li’l Abner. Introduced by Candice Bergen’s parents, Martha left the silver screen and moved to Chicago to become the wife of businessman, inventor and philanthropist, Arthur Appleton. The Appleton’s, like many snowbirds, made South Florida a second home, which was the case with their property at 22 Indian Creek Drive.

Situated on an 80,000 SF lot, this estate sale offers 200 FT of water frontage on Biscayne Bay and the Intracoastal Waterway. The Regency style home is well maintained,  with more than 7,500 SF of living space. One may wish to renovate the existing classic structure built in 1958, or simply redefine the land by creating something new.

Rear Facade: 22 INDIAN CREEK DRIVE, INDIAN CREEK VILLAGE, FL 33154

View of Biscayne Bay (south): 22 INDIAN DRIVE, INDIAN CREEK VILLAGE, FL 33154

Offered for Sale: Indian Creek Island

At the moment, there are seven properties offered for sale on Indian Creek Island asking $9.7M to $57M, including:

• 3 Indian Creek Drive – $57M
• 12 Indian Creek Drive  – $35M *
• 18 Indian Creek Drive – $25.5M
• 4 Indian Creek Drive (vacant land) – $18M *
• 38 Indian Creek Drive – $14.9M
• 22 Indian Creek Drive – $12.9M*
• 40 Indian Creek Drive – $12.9M
• 34 Indian Creek Drive – $9.7M

*How could I resist, but I must emphasize my exclusive listings

Sold in 2008: Indian Creek Island

• 36 Indian Creek Drive sold for $7.05
• 30A Indian Creek Drive sold for $7M

Residents

According to the 2000 census, Indian Creek Village is the eighth highest income place in the United States (Fisher Island was number one on that list). This ultra secure neighborhood attracts a variety of  prominent homeowners, both past and present including: radio magnate, Raul Alaracon; Perry Ellis head, George Feldenkreis; singer, Julio Iglesias; former Calvin Klein CEO, Barry Schwartz; former Miami Dolphins Head Coach, Don Shula; and billionaire developer, Jeffrey Soffer, to name a few.

Is rocker Lenny Kravitz going to ‘Fly Away,’ like the title of one of his hit songs, from Grammy Award winning album 5, suggests? Today, Kravitz listed his Miami Beach home located at 7936 Biscayne Point Circle for $2.85M. He purchased the property in 1997 for $725k.

Located on the tip of Biscayne Point, the peninsula just north of Normandy Island, Kravitz’s residence offers unobstructed views of Biscayne Bay, not to mention spectacular sunsets. Biscayne Point is a guard gated community located in the northern part of Miami Beach.

Property Highlights

• Lot Size: 12,150 SF
• Living Area: 5,717 SF
• Built in 1954

Not his first picnic in Miami Beach residential real estate, Kravitz sold his Sunset Island 2 home, 1800 W 25 Street, when the market was soaring in 2005 to developer Steve Muss for $14.5M. Kravitz purchased the property in 2001 for $8.9M.

Further adding his mark to South Florida, he launched a new business, Kravitz Design.  Maybe you have seen his work,  he is the creative behind the Delano Hotel’s ultra chic lounge, The Florida Room, which opened in December 2007. True to the music industry, Kravitz fused his new venture with his staple by designing a recording studio in the luxurious Miami Beach condo-hotel, Setai, that opened in 2008. A two-story penthouse, Setai Recording Studio (as it is know in the music world) offers 2,500 SF with state of the art equipment and inspiring views of the Atlantic Ocean.

At the 2005 MTV Music Awards, Kravitz proudly called Miami home, let’s hope he continues to spread more of his luster over our beautiful city.

1736 W 28 STREET, SUNSET ISLAND 1, MIAMI BEACH, FLORIDA 33140

Last weekend, the residence located on Sunset Island 1, at 1736 W 28 Street, was listed for $29,900,750. Seller, George Lindemann, Jr., purchased it in 2000 for $8.425M. Located in one of Miami Beach’s exclusive guard gated neighborhoods, this particular property occupies three point lots on the south western tip of  the island, offering panoramic views of Biscayne Bay, the Intracoastal Waterway and Downtown Miami. Built in 1936, the classic structure was designed by renowned twentieth century architect, Maurice Fatio.

Property Highlights

• Lot Size: 70,886 SF
• Living Area: 11,388 SF
• 5 bed,  5 bath , 2 half bath

I cannot help but compare this new listing to the sale of vacant land located at 2500 Bay Avenue on Sunset Island 2, which closed for $22M in October 2008.  This transaction was the second highest residential sale on Miami Beach. Not surprising, the property location is the ultimate, occupying 83,852 SF on the western tip of Sunset Island 2.

In case you are wondering,  the highest residential sale on Miami Beach was recorded in 2006  for the property located on Star Island at 10, 11 and 12 Star Island Drive. Lennar CEO and Director, Stuart Miller, purchased the property for $27M. Other residents of Star Island include Sean ‘Diddy’ Combs, Gloria and Emilio Estefan and Shaquille O’Neal.

Is another record sale in the cards?

Aerial View: Sunset Islands, Miami Beach, Fl 33140

Current Back View: 1460 W 28 Street, Sunset Island 1, Miami Beach, FL 33140

Rendering/Back View: 1460 W 28 Street, Sunset Island 1, Miami Beach, FL 33140

Aerial Rendering: 1460 W 28 Street, Sunset Island 1, Miami Beach, Fl 33140

The Sunset Islands is an exclusive neighborhood of luxurious single family homes located in Miami Beach overlooking Biscayne Bay to the west. The community of both waterfront and non waterfront properties is comprised of four guarded islands located between 21st and 29 streets. Sunset Island 1 and 2 are accessible through 29 Street, west of North Bay Road. Entry to Sunset Islands 3 and 4 is at the southern most part of North Bay Road on 21st Street. The Sunset Islands attract a variety of  residents including celebrities, Anna Kournikova and boyfriend, Enrique Iglesias; South Beach Diet author Dr. Arthur Agaston; Miami Beach developer, Steve Muss who acquired his home from rockstar, Lenny Kravitz ; architect Chad Oppenheim; as well as many pillars in the community. Yachtsman seek out the The Sunset Islands as the location offers no fixed bridges, allowing larger vessels unrestricted access to the Intracoastal Waterway and the Atlantic Ocean.

I just reduced the list price of 1460 W 28 Street, a waterfront home on Sunset Island I, from $4.395M to $3.99M. Prices have not been in this range since the early part of the Millennium. This particular property has an open floor plan, classic appointments and abundant natural light. The sellers have plans designed to construct a new home, however the current structure, built in 1947, is charming and beautifully maintained. Either way, the property is a bargain, where else in Miami Beach can one find a home on a guarded island, with 100FT of water frontage for less than $4M? Currently there are four waterfront properties offered for sale on Sunset Island 1. These homes are all located on the same street as 1460 W 28 Street, but the asking prices significantly exceed this property, ranging from $29.9M to $4.5M.

1460 W 28 Street: Property Highlights

• Lot Size: 20,000 SF
• Interior Living: 3,643 SF
• 100′ of water frontage
• Boat dock
• 4 bed / 3 bath
• 2-car garage
• No fixed bridges
• Plans for new home

2008 Closed Sales: Sunset Islands *

SUNSET ISLAND 1:

• 1525 North View Drive sold for $6.25M

SUNSET ISLAND 2:

• 1401 West 27 Street sold for $10M
• 1425 West 27 Street sold for $5.7M

SUNSET ISLAND 3:

• 2277 Sunset Drive sold for $4.6M**

*These four waterfront homes which sold on the Sunset Islands in 2008 had an average sale price of $877.19 SF

** I will take credit where it is due, this was my listing, and I sold it directly to the buyer