If you are looking for privacy and exclusivity while still being in the center of it all, Ten30 has it all. An oasis where you can count on a-never-before lived-in home with top of the line & brand new finishes, and where every detail has been masterfully curated to bring you comfort and beauty. Ten30 is the ideal Miami Real Estate property for you.
Ten30 South Beach is an ultra-exclusive community of only 43 Miami beach apartments for sale. With prices starting in the $400’s, this boutique building is the ideal living experience for those in search of a quiet, relaxing, and luxuriously elevated home in one of the most iconic and exciting neighborhoods in the world.
The superstar recording artist and hip-hop personality DJ Khaled just paid a whopping $21 Million Dollars for a five-bedroom, 13,000 square-foot waterfront Miami Beach Home listed for sale at $25.9 million on swanky Pinetree Drive.
The property was listed in 2016 for $29.5 million by the seller, Michael Lerner, the mogul who created the “Baby on Board” signs in the 1980s. Its reported Mr. Lerner bought the one-acre lot in 2013 for $4.95 million and built the Miami Beach mansion intending to live it in himself before deciding to relocate to Palm Beach.
The spectacular Miami Beach waterfront property features a private dock on Indian Creek, an 80-foot swimming pool, a safe room, an elevator, and a four-bedroom guest house.
Khaled has worked with practically every big name in the hip-hop and R&B fields, including Jay-Z, Beyoncé, Nicki Minaj, Drake, Pitbull, Lil Wayne, and Mary J. Blige.
Zaha Hadid’s condo at the W South Beach just sold for $5.75 million ($2,263 per square foot)
The Pritzker Prize-winning architect’s 2,541-square-foot three-bedroom, South Beach condo was listed for sale in May 2016 for $10 million following her death. The asking price was reduced to $6.5 million in November 2016.
Records show that Ms. Hadid purchased two Miami Beach Condos in 2010 for $2.79 million and one unit in 2015 for $1.38 million, and combined them to form hew W South Beach Residence.
The sales transaction records aren’t public yet, but the Wall Street Journal reported that it is New York and Boston-based Ray Bassiouni, chairman of ATI systems, which installs emergency warning and notification systems. He already owns two units in the building. Click Here: W South Beach for sale
The Miami Beach housing market showed more overall sales activity with a lower rate of inventory growth and a shift towards larger luxury units. There were 1,025 sales in the quarter, up 10.7% from the year-ago quarter. Miami Beach Condo sales showed higher sales growth with an expansion of market share of 3, 4 and 5-bedroom units as well as an 8.6% rise in average sales square footage.
Although listing inventory of Miami Beach condos for sale has been rising for more than four years, the rate of growth has eased considerably in past year. Overall inventory growth was 3.9% to 6,319 listings over the same period. The combination of rising sales and falling supply resulted in a slightly faster market pace. The absorption rate, the number of months to sell all inventory at the current rate of sales, was 6.1% faster, falling to 18.5 months from 19.7 months in the
year-ago quarter. Days on market, the number of days from the last price change, to the contract date, rose 6.5% to 148 days. Overall median sales price rose 7% to $438,000, and the average sales price jumped 15.8% to $1,098,024 respectively from the prior-year quarter. The significant gain in average sales price illustrates the shift to more substantial sized sales across the market.
With summer just around the corner, I wanted to share some information on the most recent real estate activity in Miami Beach, I researched the last 100 sales along the coast.
Here’s what I discovered:
• There were just over 100 condo and home sales, priced at $500,000 and higher
• We saw about $198,959,525 in sales, roughly averaging about $866 per square foot
• The average selling price of all 100 properties was just under $2M ($1,989,595)
• The highest sale by price was a home on Star Island, selling for $33M ($1941.18/sqft). This is huge, as per the MLS the last recorded sale on Star island was in July of 2014.
• Setai South Beach had the highest sale by price-per-square-foot, Setai Penthouse -VC, sold for $2667/sqft ($9.525M)
• Unit 1405 in IL Villaggio South Beach also sold for $4.9M. This is significant as there hadn’t been a sale in IL Villaggio Since March of 2017.
Needless to say, it’s been a really good last 30 days! Call or text David (786) 200-3966 email David@miamibeachhomefinder.com
It’s been reported that a company tied to AQR Capital Management co-founder Cliff Asness is the buyer of a South Beach penthouse at 321 Ocean Drive that sold last week for a record breaking $26 million.
Skurge LLC, a Delaware, purchased the 6,807-square-foot 5bedroom penthouse located at 321 Ocean Drive. Mr. Asness net worth is listed by Forbes magazine at $3.8 billion.
The sellers, tried to flip the originally listed the Miami Beach penthouse for sale for $53 million in 2015, the same year they closed on the property for $20 million. It was relisted last year for $35 million with Douglas Elliman. The 321 Ocean unit sold for more than $3,800 per square foot in what is the most expensive condo sale of the year.
A South Beach penthouse located at 321 Ocean Drive once listed for listed for sale for $53 million just sold for $26 million. At one time this was South Beach’s priciest residence available for sale. The sellers re listed PH with Douglas Elliman and reduced the asking price to $34 million in August 2017. As per records, the sellers purchased the Miami Beach penthouse at pre-construction for $20 million in 2013.
The stunning 6,800-square-foot two-story residence, boasts a private 5,223-square-foot roof deck with a 36 foot infinity pool, outdoor kitchen, fire pit, and massive entertaining space with 360 degree views of the ocean & city.
The Realdeal Magazine reported that billionaire hedge funder John Liew and his wife Serena just purchase a South Beach Condo at Apogee South Beach for $13.5 million about $3,600 per square foot.
John Liew is the co-founder of AQR Capital Management, a private hedge fund firm based in Greenwich, Connecticut. Forbes pegs his net worth at about $1.25 billion.
Records show 1604 Apogee Corp. is the seller of unit 1604, a four-bedroom, 3,731-square-foot residence located at 800 South Pointe Drive. The property was listed for sale in January for $14.5 million with Bo Mastykaz with Douglas Elliman. Liew was represented by Elliman’s Eloy Carmenate and Mick Duchon.
The condominium features include a 2,400-square-foot wraparound balcony with an outdoor kitchen, marble bathrooms, wood finishes and a chef’s kitchen, and spectacular views of the Ocean, bay and the Miami Skyline.
This latest sale is part of a wave of recent record breaking sales at Apogee, a very exclusive, ultra-luxury 22 story Miami Beach condo property with only 68 units. In March, two units sold for $12 million and $14.8 million.
At 5 p.m. EST June 17, the Consumer Financial Protection Bureau issued a statement that the effective date for the TILA-RESPA Integrated Disclosure (TRID) rules would be pushed back to Oct. 1, 2015.
CFPB Director Richard Cordray said in a prepared statement: “The CFPB will be issuing a proposed amendment to delay the effective date of the Know Before You Owe rule until Oct. 1, 2015. We made this decision to correct an administrative error that we just discovered in meeting the requirements under federal law, which would have delayed the effective date of the rule by two weeks. We further believe that the additional time included in the proposed effective date would better accommodate the interests of the many consumers and providers whose families will be busy with the transition to the new school year at that time.”
Rainier Title has been working towards the TRID implementation for over a year and felt prepared for August 1st. However, with the proposed delay we will be taking this opportunity to continue our education and training of TRID. While we believe that we have been proactive and ready for this change, there are still so many unknowns that will have to be addressed at the time of implementation. The industry should still prepare for 45-60 days for transaction to close due to the new timing parameters of the forms.