The past four months of miami beach condo sales have been impressive, continuing to buck national real estate trends. Miami Beach real estate, especially for premier condo buildings in South Beach's highly desired South of Fifth neighborhood, continues to be in strong demand.

As the Spring / Winter season in Miami Beach comes to an end, we are continuing to see strong buyer demand for premier waterfront homes and condos. Especially in the premier waterfront luxury condo buildings, such as The Murano at Portofino, Continuum North and South Towers, Icon South Beach, Apogee, and The Il Villagio demand is outpacing supply causing condo price appreciation!Further North, along Collins Avenue, premier Oceanfront buildings such as The Setai, The Bath Club, The Akoya, and The Blue and Green Diamond condo buildings have seen impressive sales momentum in the 2010 - 2011 selling season.

Indeed, overall Miami Beach condo sales have been SO strong, that we've had many frustrated Buyers decide to purchase condos which were further down on their list desired preferences / amenities. We've had several of our top clients decide to purchase waterfront condos in Miami Beach that require extensive remodelling, since they were outbid for the premier Miami Beach corner condos with direct Oceanfront and/or Biscayne Bay views.

The last ninety days of $1 Million + Waterfront Miami Beach Condo Sales for zip codes 33139 and 33140:

Past Ninety Days Sales Miami Beach Condos - $1 Million + (Waterfront)
Closing DateADDRESSMiami Beach Condo Living Area Sales Price
4/27/20111455 OCEAN DR # BH-06IL VILLAGGIO3,550 $ 3,025,000
4/26/20111000 S POINTE DR # 1705Murano at Portofino1,407 $ 1,250,000
4/4/2011400 ALTON RD # 3203MURANO GRANDE3,058 $ 2,021,000
4/19/2011400 ALTON RD # 703Murano Grande3,058 $ 1,620,000
3/4/20111000 S POINTE DR # 3702MURANO AT PORTOFINO2,618 $ 2,200,000
2/7/2011100 S POINTE DR # 1110Continuum South2,122 $ 1,900,000
4/20/20111445 16 # LP-1CAPRI SOUTH BEACH2,970 $ 2,500,000
4/27/20111500 OCEAN DR # 10011500 OCEAN DRIVE2,320 $ 2,745,000
2/9/2011101 20 ST # 2708The Setai1,141 $ 2,100,000
4/18/2011800 S POINTE DR # PHAAPOGEE6,853 $11,500,000
4/25/2011100 S POINTE DR # TH-15The Continuum2,072 $ 1,425,000
3/1/2011100 S POINTE DR # 1005Continuum South Tower1,869 $ 1,650,000
3/7/2011450 ALTON RD # 1205Icon South Beach1,750 $ 855,000
2/14/2011400 S POINTE DR # 1510SOUTH POINTE TOWER1,559 $ 975,000
3/9/20111455 OCEAN DR # 1406Il Villaggio Condominium1,780 $ 1,900,000
4/29/2011300 S POINTE DR # 1802PORTOFINO TOWERS2,040 $ 1,480,000
3/14/20112201 Collins Ave # 828W South Beach Residences1,906 $ 3,300,000
4/28/20111000 S POINTE DR # 3502Murano at Portofino2,618 $ 2,200,000
3/28/2011400 ALTON RD # 1704Murano Grande1,425 $ 1,050,000
3/7/2011300 S POINTE DR # 1101PORTOFINO TOWERS2,340 $ 1,625,000
4/15/20111455 OCEAN DR # 1407IL VILLAGGIO1,810 $ 2,050,000
2/28/2011400 ALTON RD # 2404MURANO GRANDE2,974 $ 1,950,000
4/3/2011101 20 ST # 2308The Setai Condominium2,558 $ 4,600,000
4/8/2011100 S POINTE DR # 3204Continuum2,508 $ 3,270,000
2/11/2011450 ALTON RD # 3210ICON1,370 $ 940,000
4/12/20111800 SUNSET HARBOUR DR # 2202/4Sunset Harbour South2,246 $ 1,100,000
3/2/20111445 16 # LPH-3CAPRI SOUTH BEACH1,919 $ 1,392,000
3/16/20111445 16 ST # BL-302CAPRI SOUTH BEACH1,842 $ 1,680,000
4/15/20111470 16 ST # C301CAPRI SOUTH BEACH1,974 $ 1,925,000
3/2/20111100 WEST AV # TS-1Mondrian South Beach1,500 $ 1,395,000
3/23/2011800 S POINTE DR # 1402Apogee3,103 $ 4,995,000
2/25/20111000 S POINTE DR # 3002Murano at Portofino2,618 $ 1,880,000
3/18/2011450 ALTON RD # 3001ICON South Beach2,145 $ 1,800,000
3/5/20111000 S POINTE DR # 3102MURANO AT PORTOFINO2,618 $ 2,250,000
3/8/2011101 20 ST # 1701The Setai3,691 $ 3,950,000
2/22/2011100 S POINTE DR # 2901Continuum South Tower1,591 $ 1,550,000
2/22/2011400 ALTON RD # 2308Murano Grande1,600 $ 1,200,000
4/4/2011400 ALTON RD # 2208Murano Grande1,600 $ 1,200,000
4/14/2011400 ALTON RD # 2306Murano Grande2,024 $ 1,485,000
2/9/2011450 ALTON RD # 2002THE ICON1,933 $ 1,050,000
2/2/2011100 S POINTE DR # 1705Continuum1,869 $ 1,500,000
3/30/2011450 ALTON RD # 1502ICON South Beach1,933 $ 1,105,000
4/14/20111800 SUNSET HARBOUR DR # 1202/4Sunset Harbour South2,246 $ 1,125,000
3/10/2011300 S POINTE DR # 1605PORTOFINO2,340 $ 1,400,000
3/23/2011300 S POINTE DR # 3703PORTOFINO TOWERS2,550 $ 1,600,000
4/12/201150 S POINTE DR # 3003CONTINUUM NORTH TOWER2,306 $ 2,700,000
3/11/2011400 ALTON RD # 1904Murano Grande1,425 $ 1,025,000
3/18/20111500 OCEAN DR # 4051500 OCEAN DRIVE1,530 $ 1,040,000
4/19/2011100 S POINTE DR # 2401CONTINUUM ON SOUTH BEACH1,591 $ 1,350,000
3/23/2011450 ALTON RD # 3502ICON Condo1,933 $ 1,470,000
3/17/20111500 OCEAN DR # PH-81500 Ocean Drive1,170 $ 975,000
4/28/2011100 S POINTE DR # 1603CONTINUUM ON SOUTH BEACH1,365 $ 1,100,000
4/1/20116365 COLLINS AV # 2103AKOYA CONDOMINIUM1,761 $ 935,000
2/18/20115959 COLLINS AV # 705THE BATH CLUB3,807 $ 1,800,000
3/3/20114391 Collins # 722723Fontainebleau IIISorrento1,742 $ 980,000
2/25/20113737 COLLINS AV # S-502Caribbean2,326 $ 1,475,000
2/16/20115959 COLLINS AV # 802The Bath Club2,572 $ 1,400,000
3/22/20114775 COLLINS AV # 2503GREEN DIAMOND1,980 $ 1,295,000
4/28/20113737 COLLINS AV # S-1303The Caribbean1,621 $ 975,000
4/20/20115959 COLLINS AV # 607THE BATHCLUB CONDO2,959 $ 1,000,000

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While working with waterfront homebuyers and condominium buyers just before the Holidays, I noticed that there is an increasing number of recent Miami Beach homeowners attempting to do a quick property flip (for a profit). This is showing up with luxury Miami Beach waterfront homes and condominiums that are located in the luxury island communities of Miami Beach.

How soon homeowners will be able to make a quick profit in a Buyer's market environment is still yet to be determined. Those savvy enough to have picked up REALLY CHEAP properties, especially those who managed to purchase deeply discounted Short Sales and REO (Foreclosure / Bank-owned) homes and condos in Miami Beach at the absolute bottom of the market have a good chance of pulling it off in 2011.

What I've been most impressed with is that these Miami Beach "flip" homes and condos happen to be among the best deals currently on the market. There's a much reduced inventory of well priced waterfront homes and condos available for sale in Miami Beach as we close out 2010.

A few examples of high potential "flip" scenarios currently on the market:

Miami Beach Home

Breathtaking North Bay Road Estate - Miami Beach Home
5150 North Bay Road
Miami Beach, FL 33140
Remarks: 105 feet of waterfrontage, with six bedrooms / 6.5 baths, Private Boat Slip, beautifully appointed Grand Estate-type home with imported marble and completely updated throughout.
Sale Price: $3,750,000 (2/10)
Currently Listed Price : $ 5,490,000
2010 Tax Assesed Value: $3,727,000
Bedrooms: 6
Bathrooms: 6.5
House S.F.: 6,360
Days on Active Market (Multiple Listing): 70+ Days

Murano Condo Miami Beach

The Murano at Portofino - Miami Beach Condominium
1000 South Pointe Drive #3102
Miami Beach, FL 33139
Remarks: Second largest floorplan at Murano at Portofino condos with two terraces and incredible Ocean, Intracoastal, Fisher Island, and Downtown Miami skyline Views. Extra large kitchen with enhanced views!
Sale Price: $1,925,000 (6/10)
Currently Listed Price : $2,490,000
2010 Tax Assesed Value: $2,092,000
Bedrooms: 3
Bathrooms: 3.5
Condo S.F.: 2,618
Days on Active Market (Multiple Listing): 30+ Days

Murano Grande Miami Beach Condominium

The Murano Grande - Miami Beach Condominium
400 Alton Road #2309
Miami Beach, FL 33139
Remarks: Immaculate Two Bedroom split floorplan with direct Ocean views and large balcony. Miele kitchen with enhanced views!
Foreclosure Sale Price: $327,000 (1/10)
Currently Listed Price : $749,000

2010 Tax Assesed Value: $604,810
Bedrooms: 2
Bathrooms: 2
Condo S.F.: 1,437
Days on Active Market (Multiple Listing): 300+ Days

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I'm constantly asked, who's buying in these challenging economic times?The answer is highly qualified end-users primarily from Europe and Latin America! Based on my recent experience, Eastern and Central Europeans, Brazilians, some Venezualan and Colombia, and Argentine high net worth individuals. Today's buyers primarily look for premier waterfront luxury homes and condominiums in South Beach as a great investment opportunity given the recent price reductions and limited inventory.

Especially in such premier waterfront ultra-luxury condo buildings such as The Continuum North and South Towers, Icon South Beach, The Murano Grande, Murano at Portofino, and Apogee Condos have drawn strong European and Brazilian luxury buyer interest.

Miami Beach Condos Continuum South Beach

It's my belief hat these condo buildings draw strong international buyer attention due to their prime waterfront locations in the Miami Beach's South of Fifth Neighborhood / District. These contemporary condominium buildings are located in an area of Miami Beach with stringent building restrictions (no waterfront land is available for future development). Also, The Continuum on South Beach boasts such amenities as TWELVE amazing Oceanfront acres at the Southernmost tip of Miami Beach. The individual condominiums in all of the mentioned buildings feature a minimum of 9' floor to ceiling sliding glass doors and windows, top of the line European Kitchens, incredible views of the Ocean, The Downtown Miami skyline. All of these condos feature oversized bathrooms with whirlpool bathtubs, European cabinetry in Bathrooms and Kitchens, private beach and pool cabanas, and state-of-the-art amenities.

For example, at The Continuum on South Beach, residents have an on-site three-story fitness center (A Marco Borges Concept) with an incredible selection of free weights, yoga and pilates classes, a private lap pool, THREE sunken Oceanfront Tennis Courts, Men's and Women's private jacuzzi's, massage rooms, as well as steam rooms and dry saunas.

A common cliche is that real estate is all about location location location (and long term supply and demand). Luxury waterfront condominiums in Miami Beach, and particularly in South Beach's South of Fifth Neighborhood, are an excellent example of the BEST location with VERY LIMITED future supply. Due to Art Deco Preservation League & City of Miami Beach zoning restrictions, NO new waterfront buildings are to be built for the foreseeable future.

That's right, NO new supply is planned, given the current physical and legal constraints imposed by the City of Miami Beach. The Murano at Portofino, The Portofino Tower, Apogee, Icon South Beach, The Murano Grande, and The Continuum on South Beach's are all direct waterfront condo buildings. All of these luxury condo buildings are located in the heart of the South Beach's South of Fifth Neighborhood- with world-class food, boutiques, and the many other unique attractions within Ten minutes walking distance!

Is this a fantastic medium to long-term investment opportunity? Come and take a look at a few of the condominiums I highlighted in this post, and decide for yourself!

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