SeaGlass Jupiter Island Celebrates Groundbreaking

Fontainebleau Development, LLC, and Perko Development Partners as the local co-development partner, celebrated the groundbreaking of a new oceanfront condominium, SeaGlass Jupiter Island. The condo will feature 21 luxurious residences with unobstructed ocean views and is expected to be completed in fall 2022. Attendees of the ceremony included: Jeffrey Soffer, Fontainebleau Development chairman and CEO; Bruce Weiner, Fontainebleau Development COO of Residential; Jim Cohen, Fontainebleau Development president of Residential; and Phil Perko, founder and president of Perko Development Partners. 

SeaGlass Jupiter Island is designed by architect Robert M. Swedroe of Swedroe Architecture. The residences will be designed with private terraces, outdoor kitchens, 10-foot ceilings and sweeping panoramic views of the ocean. A fob-controlled elevator will lead to a private entry foyer in each residence. Amenities include an oceanfront infinity pool, heated relaxation spa, fitness center, yoga and meditation lawn and two-story lobby. 

SeaGlass Jupiter Island is located at 1500 Beach Road, situated between the Atlantic Ocean and Intracoastal Waterway on Jupiter Island in the village of Tequesta. Sales for the exclusive condo launched in May with prices ranging between $5.9 million to over $10 million.

The Tampa EDITION Launches Sales Center At Water Street Tampa

The Residences at The Tampa EDITION have recently launched sales for the city’s first five-star hotel-brand inside Water Street Tampa. The project was developed by Tampa-based firm Strategic Property Partners. The new sales gallery opening will allow buyers to view residences’ interiors and layouts first-hand for the 37 residences featured in the building. The Tampa EDITION will be the third EDITION Residences offered around the World. 

"We are thrilled to introduce this unmatched residential offering to Tampa,” said Bob Glaser, CEO and President of Smith & Associates, the brokerage responsible for residential sales at The Tampa EDITION. “Serviced by the world-renowned EDITION brand and providing immediate access to the best shopping, dining and cultural institutions the city has to offer, The Residences at The Tampa EDITION are unlike any other product in the history of Tampa. It’s gratifying to see such an incredible response from the market, as well as the enthusiasm from our buyers who recognize how special these homes are.” 

The Tampa EDITION features luxury condos by world-renowned architecture firm Morris Adjmi Architects. Interiors are inspired by AD 100 design firm Roman and Williams. Residences will offer indoor-outdoor living with expansive floor-to-ceiling windows and sliding glass doors leading to wraparound terraces. Residences will also have access to private amenities and residential services programmed by The EDITION. Amenities include a residents-only fitness center, social kitchen and lounge, private residential lobby access, private residents’ elevators and a residential Lifestyle Manager. Residents will also be able to enjoy EDITION Hotel benefits including a rooftop terrace, pool, and priority access to reservations at the restaurants. Residences will begin on the 10th floor situated above the 172-key EDITION Hotel. The building will have views of Hillsborough Bay and Downtown Tampa. 

The Tampa EDITION is located in the neighborhood connecting Tampa’s central business district with its waterfront. Construction is well underway and the first contracts for The Residences are already being signed. Pricing for available residences starts at $2 million. Smith & Associates will be the exclusive sales agent representing The Residences at the Tampa EDITION. 

Ten30 South Beach Debuts Sales Gallery In South Beach

Ten30 South Beach unveiled their sales gallery with a socially distanced open house. The event was hosted by Fortune Development Sales and welcomed about 75 brokers over two days. Guests were the first to see the project’s residences and refined finishes. Ten30 South Beach is developed by the Shoma Group and designed by Shoma Interior Design.

“We’re very pleased to welcome brokers and prospective buyers to experience Ten30 South Beach with our new sales gallery,” said Masoud Shojaee, President and CEO of Shoma Group. “Ten30 South Beach was designed with technology at the forefront, and as we near completion we’re excited to showcase this attractive proposition to the South Beach market firsthand.” 

The design of the building includes many high-tech finishes such as an Ecobee thermostat system, Bluetooth enabled keyless entry, and a smart refrigerator by Samsung. Residences are decorated mid-century modern and moderately priced starting at $498,900.

“The new sales gallery offers an up-close opportunity for buyers to see – and even feel – what it’s like to live in one of Ten30’s residences,” said Edgardo Defortuna, President and CEO of Fortune International Group. “The contemporary design and interactive features are overall reflections of the unparalleled lifestyle that will be offered as we introduce this unique development to Miami Beach.”

The sales gallery also debuted a full model kitchen featuring premium appliances. Once complete building amenities will include a 6,000 sq.ft. rooftop deck with an outdoor lounge and kitchen. The sales gallery of Ten30 South Beach is located at 1116 15th Street in Miami Beach and estimated to be complete in the beginning of 2021.

Douglas Elliman Releases June 2020 New Signed Contracts Report for Florida

Douglas Elliman in conjunction with Miller Samuel, a leading independent appraisal firm, has released its second monthly recurring report for June 2020. The report focuses on the new contracts signed and new listings that entered the rapidly changing market in Douglas Elliman’s Florida regions of Miami-Dade, Broward, Palm Beach, Pinellas, and Hillsborough. Overall, there was a surge in new signed contracts far exceeding year-ago levels, with excess demand coming from the Northeast. However, new inventory level gains have not kept pace with the growth in new contracts.

New contracts and new listings for each property type have been broken out by eight price tranches depending on regional pricing, on a year to year basis. Douglas Elliman will release a similar report to this one once again during the first week of August to disclose data regarding the number of new contracts signed and new listings during the month of July.

Palm Beach County

Key Trend Metrics (Year to Year)

Single Family:

• Number of new signed contracts soared 71.3% to 4,261 contracts

• Listing inventory dropped 19.9% to 1,604 units

• 642 single family homes priced above $1M went into contract, a 114.7% increase from last year

Condo:

• Number of new signed contracts jumped 76.0% to 2,626 contracts

• Listing inventory surged 4.2% to 1,175 units

• Condos priced between $200K and $299K saw a 107.6% incline in the number of signed contracts for a total of 467 

Broward County

Key Trend Metrics (Year to Year)

Single Family:

• Number of new signed contracts rose 76.1% to 4,336 contracts

• Listing inventory decreased by 27.0% to 1,622 units

• There was a 123.2% increase in the number of signed contracts for homes priced between $600K and $799K 

Condo:

• Number of new signed contracts surged 61.4% to 3,154 contracts

• Listing inventory fell 14.2% to 1,403 units

• 78 condos priced between $500K and $599K went into contract, a 116.7% jump from last year

Miami-Dade County

Key Trend Metrics (Year to Year)

Single Family:

• Number of new signed contracts edged up 74.3% to 3,955 contracts

• Listing inventory dropped 25.0% to 1,426 units

• There were 172 homes priced between $800K and $99K that went into contract, a 123.4% increase from last year for similarly priced homes

Condo:

• Number of new signed contracts climbed 54.6% to 4,093 contracts

• Listing inventory slipped 4.0% to 1,918 units

• 643 condos priced between $200K and $299K went into contract compared to last year’s 344

Pinellas County

Key Trend Metrics (Year to Year)

Single Family:

• Number of new signed contracts surged 95.9% to 2,897 contracts

•  Listing inventory decreased by 26.9% to 1,031 units

• There was a 148.8% rise in homes priced between $500K and $599K that went into contract

Condo:

• Number of new signed contracts increased by 93.4% to 1,408 contracts

• Listing inventory fell 12.0% to 512 units

• 28 condos priced between $800K and $999K went into contract, a 250.0% surge from last year’s 8

Hillsborough County

Key Trend Metrics (Year to Year)

Single Family: 

• Number of new signed contracts rose 98.2% to 4,524 contracts

• Listing inventory declined 32.1% to 1,550 units

• There was a 223.9% jump in the number of new signed contracts for homes priced at or above $1M

Condo:

• Number of new signed contracts grew 124.0% to 616 contracts

• Listing inventory declined 18.9% to 223 units

• Condos priced at or above $1M saw a drastic increase of 1633.3% in the number of new signed contracts for a total of 52

by Isabella Zimmermann

Douglas Elliman Releases May 2020 New Signed Contracts Report for Florida

Douglas Elliman in conjunction with Miller Samuel, a leading independent appraisal firm, has just released its May 2020 New Signed Contracts Report, which reveals that the number of newly signed contracts across property types in Florida was at a high last month, despite there being lower levels of new listing inventory coming online. The Florida report includes the five counties of Miami-Dade, Broward, Palm Beach, Pinellas, and Hillsborough, focusing on the new contracts signed and new listings that entered the Florida Market during the entire month. The regions are broken up by two property types: single family and condo, as well as county, borough, or area. New contracts and new listings for each property type have been broken out by eight price tranches depending on regional pricing, on a year to year basis. Douglas Elliman will be producing a monthly recurring report similar to this one during the first week of each month to cover the prior month’s number of new contracts signed and new listings to provide a data-driven picture of the rapidly changing market.

Palm Beach County

Overview:

• Despite lower levels of new listing inventory coming online, the number of new signed contracts across property types pressed higher

Key Trend Metrics (Year to Year)

Single Family:

• Number of new signed contracts for homes jumped 27.7% to 3,444 contracts 

• Listing inventory dropped 37.9% to 1,381 units

• There was a 49.3% decline in the number of new listings for homes priced below $200K

Condo: 

• Number of new signed contracts for condos increased by 16.6% to 2,033 contracts

• Listing inventory declined 28.7% to 906 units

• 111 condos priced above $1M went into contract, a 40.5% increase from the number of condos that went into contract in May 2019

Broward County

Overview: 

• There was a larger rise in overall single family new signed contracts than for overall condo new signed contracts

Key Trend Metrics (Year to Year)

Single Family:

• Number of new signed contracts rose 33.4% to 3,499 contracts

• Listing inventory slipped 42.3% to 1,389 units

• Listing inventory dropped by 66.4% for homes priced below $200K to 48 units

Condo:

• Number of new signed contracts increased by 19.2% to 2,491 contracts

• Listing inventory dropped 35.1% to 1,108 units 

• 89 condos priced at or above $1M went into contract, a 50.8% increase from last year  

Miami-Dade County

Overview:

• Despite the significant drop in single family and condo new listings during the spring, a noticeable uptick began in May

Key Trend Metrics (Year to Year)

Single Family:

• Number of new signed contracts rose 36.2% to 3,284 contracts

• Listing inventory declined 40.7% to 1,232 units

• Listing inventory for homes priced below $200K saw a 60.6% decline

Condo:

• Number of new signed contracts edged up 4.1% to 3,058 contracts

• Listing inventory dropped 42.6% to 1,386 units

• There were 91 new listings for condos priced between $600K to $799K, a 52.4% drop from last year’s 191 new listings for similarly priced condos  

Pinellas County

Overview:

• Along with the atypical drop in new listings introduced to the market this spring, new contract signings surged for both single families and condos

Key Trend Metrics (Year to Year)

Single Family:

• Number of new signed contracts surged 45.3% to 2,519 contracts

• Listing inventory decreased by 33.4% to 974 units

• Homes priced at or above $1M saw a 100.0% surge in the number of new signed contracts for a total of 132

Condo:

• Number of new signed contracts rose 32.3% to 1,143 contracts

• Listing inventory fell 34.9% to 443 units

• 25 condos priced between $800K to $999K went into contract, a 108.3% increase from last year

Hillsborough County

Overview:

• There was a significant surge in new signed contracts for both single family and condo properties as listing inventory remained slow to enter the spring market

Key Metrics (Year to Year)

Single Family:

• Number of new signed contracts increased by 66.6% to 4,266 contracts

• Listing inventory slipped 37.5% to 1,594 units 

• 200 homes priced between $600K to $799K went into contract, a jump of 124.7% from last year 

Condo: 

• Number of new signed contracts rose 53.2% to 521 contracts

• Listing inventory fell 25.0% to 216 units

• There was a 425.0% rise in homes priced at or above $1M that went into contract

By Isabella Zimmermann

Arbor Coconut Grove, A 52-Unit Boutique Condo Development, Coming to Downtown Coconut Grove

There is a new boutique condo development currently in prelaunch phase coming to Downtown Coconut Grove. Arbor Coconut Grove will be a 5-story, 52-unit condo development located directly behind CocoWalk. Arbor will be developed by Urban Atlantic Group and Oak Ventures and designed by Behar Font & Partners with landscape design by Witkin Hults. Units will come in 2 and 3 bedroom layouts finished raning from 1,400 SF to 2,000 SF. Units will come delivered with tile floors and top-of-the-line appliances. Duplex loft and townhome style units will feature 20' ceilings while the rest of the units will get 10' ceilings. There will also be 4 penthouses with private balconies. Amenities include a courtyard pool deck with pool and grilling areas along with a "bicycle concept" described by Nick Hamann of Urban Atlantic Group, which will allow residents to store, share and service their bikes. Units start at $799,000 targeting families that have been priced out of the Coconut Grove market but still want to live in the residential community. Urban Atlantic Group is headed up by Nick Hamann and Oak Ventures by Jeremy Waks. Sales will be overseen by Douglass Elliman as the exclusive sales broker for the project. The sales gallery just opened and the developers already expect to deliver the project in Fall 2018. 

"18" Residential Tower Coming to Brickell in Infamous "Burger King Strip-Mall" Lot

A project that will become known as "18" is coming to Brickell and will replace the strip mall with the Burger King located right next to Brickell Mary Village, Brickell City Centre, Brickell Heights and SLS Lux at 10 SW 8th Street. This last undeveloped lot has become dwarfed by the neighborhood around it and is in need of a desperate redevelopment. City Center Properties, LLC. is the developer on record for the proposed 78-story tower which will rise 950 feet. The first four levels will be 66,618 SF of retail before breaking to 392 residential units on the upper levels. The project will be designed by NBWW as the architect and plans are currently under review by Miami's Urban Development Review Board this month. The tower will bring even more residential units, traffic and retail to an area which has seen immense growth over the past 5 years.

1 Bedroom at 1 Hotel and Homes Sells for $1.345 Million

The Miami condo market is not dead as a deal has been reported at 1 Hotel and Homes on Miami Beach. Unit #1008, a 959 SF one-bedroom unit has closed for $1.345 million or $1,403 SF. The unit features the 1 Hotel furniture package with light, natural color tones, wood floors and furnishings designed by Debora Aguiar. The unit was first listed for $1.695 million in 2015 with Jeff Miller of Brown Harris Stevens.

Bijou Bay 60% Sold, To Break Ground in December

Colombian developer Juan Carlos Gonzalez's Acierto Inmobiliario new project Bijou Bay on Bay Harbour Island is closer to becoming a reality as they have announced that the building is now 60% sold and is expected to break ground on December 15, 2016.  Bijou Bay will be a 9-story building designed by Revuelta Architecture International with interiors by Adriana Hoyos. It will feature 41 modern luxury residences ranging from 900 SF to 2,000 SF and prices start at $530 per SF. Amenities will include a poolside lounge and bar, rooftop lounge, gym, outdoor entertainment area with fire pit and pool as well as bay access for boating and water sport. A groundbreaking ceremony will be held on November 30, 2016.

South Pointe Penthouse in Portofino Tower Lists for $13.95 Million

PH4003, the 3-story penthouse high above South Pointe's Portofino Tower, has been listed for $13.95 million. The condo is 4,300 SF with an additional 3,000 SF of outdoor space with a private rooftop terrace complete with a summer kitchen, bar and jacuzzi. It has 3 bedrooms and 3.5 bathrooms. 20 foot floor-to-ceiling windows provide panoramic views of Miami Beach, Atlantic Ocean, Coconut Grove, Biscayne Bay, Brickell and Downtown Miami throughout. The unit last sold in 2007 for $6.5 million. Listing and photos by Brown Harris Stevens.