Tour An Iconic Pine Tree Drive Mansion With A Zoo Of Art Asking $9.9 Million

An iconic Miami Beach mansion on the prestigious Pine Tree Drive which is surrounded by a zoo of art has hit the market asking $9.9 million. The classic home was built in 1938 and is a Mimo architectural masterpiece given a modern twist with decorative animal sculptures matched with colorful interiors and designs by renowned architect Igor Polevitzky. The zoo of art features an 8-foot tall pink snail made of recyclable plastic, a family of colorful lemurs guarding the homes entrance, and a giant pink alligator living out back by the water. The home itself offers 8-bedrooms and 9-bathrooms spread over 8,307 SF. The mansion also features a gourmet kitchen with Italian walnut cabinetry, a theater room, an expansive master suite, a sauna, a waterfront pool, 140-feet of waterfrontage on Indian Creek, two attached and detached guest quarters, a summer kitchen and a 3-car garage.

6301 Pine Tree Drive is currently listed for $9,900,000 with Daniela Fernandez and Albert Justo & Mirce Curkoski with The Waterfront Team of ONE Sotheby’s International Realty.

Photos via Lifestyle Production Group for ONE Sotheby’s International Realty

For more information about 6301 Pine Tree Drive, private showings or purchasing/ leasing information please fill out the form below:

Check Out This North Bay Road Miami Beach Mansion Complete With A Private Tennis Court

One of the largest non-waterfront properties in Miami Beach has hit the market with 4 combined lots, offering nearly 40,000 SF of space on the prestigious North Bay Road and asking $5.995 million. The home is a classic masterpiece offering 7 bedrooms and 5.5 baths spread over 6,309 SF. The classic design was meticulously restored and matched with stunning finishes throughout the interiors including exposed beam ceilings in the living room. Additionally the home features a large master suite, home office, tall cathedral ceilings, bar, and formal dining area. The gated compound is fully surrounded by lush landscaping for complete homeowner privacy and also features a large outdoor pool and private tennis court.

5185 North Bay Road is listed for just $5.995 million by Mirce Curkoski & Albert Justo with The Waterfront Team of ONE Sotheby’s International Realty.

Photo Credit: The Waterfront Team for ONE Sotheby’s International Realty

For more information about 5185 North Bay Road, Miami Beach, FL, private showings or purchasing/ leasing information please fill out the form below:

Douglas Elliman Releases Q4 Market Reports For South Florida

Douglas Elliman has released their Q4 Market Reports for South Florida, produced in conjunction with Miller Samuel a leading independent appraisal firm. The South Florida Market continued to show power in prices, continuing to increase in both the luxury and overall markets across nearly all markets including Miami Beach and Barrier Islands, Fort Lauderdale, Boca Raton, DelRay Beach, Wellington, Palm Beach, Jupiter and Palm Beach Gardens.

MIAMI BEACH/BARRIER ISLANDS

Key Trend Metrics(Year Over Year)

Overview:

• Single family sales surged as condo sales declined after a large burst of activity on the prior quarter

• Condo price trend indicators declined from year ago levels, consistent with drop in average sales size

• Luxury condo price trend indicators declined at same rate as average sales size

• Luxury single-family sales size rose sharply driving price trend indicators higher

• Luxury condo inventory increased as luxury single family inventory declined

• Marketing time expanded as older listings were absorbed as negotiability expanded

Key Trend Metrics(Year Over Year)

Overall

• Median sales price slipped 6.7% to $378,750

• Average sales price increased 0.3% to $888,424

• Number of sales slipped 10.4% to 678

• Days on market was 146, up from 73

• Listing discount was 10.9%, up from 810%

• Listing inventory increased 3.8% to 6,668

Luxury Condo

• Median sales price declined to $2,200,000

• Average price per square foot decreased 13.5% to $1,047

• Days on market was 222, up from 92

• Listing discount was 12.6%, up from 11.3%

• Listing inventory rose 20.5% to 1,459 units

• Entry threshold began at $1,305,000

Luxury Single Family

• Median sales price surged 33.3% to $8,000,000

• Average price per square foot jumped 40.3% to $1,494

• Days on market was 349, up from 170

• Listing discount was 16.7%, up from 16.4%

• Listing inventory fell 6.2% to 183 units

• Entry threshold began at $5,900,000, up from 15.7%

MIAMI COASTAL MAINLAND

Overview:

• Overall price trend indicators and the number of sales continued to rise year over year

• Overall sales and all price trend indicators were above the level seen in 2017

• Listing inventory trended higher for the fourth consecutive month

• Market share of purchases with conventional financing was the highest in the five years

• Nearly all luxury condo and single-family price trend indicators continued to rise greater year over year

• Luxury condo inventory declined as luxury single family inventory expanded

Key Trend Metrics(Year Over Year)

Overall:

• Median sales price increased 5.9% to $320,000

• Average sales price rose 7.2% to $445,007

• Number of sales rose 10.6% to 3,518

• Days on market was 81 up from 44

• Listing discount was 5.6%, down from 5.7%

• Listing inventory rose 20.9% to 12,071 units

Luxury Condo

• Median sales price slipped 3.8% to $812,500

• Average price per square foot rose 4% to $470

• Days on market was 178 days, up from 155

• Listing discount was 7.8%, down from 8.1%

• Listing inventory declined 18.9% to 2,505

• Entry threshold began at $610,000, up 27.1%

Luxury Single Family

• Median sales price rose 6.7% to $1,387,500

• Average price per square foot jumped 16.8% to $479

• Days on market was 130 days up from 67

• Listing discount was 8.5%, up from 8.4%

• Listing inventory rose 12.6% to 1,111 units

• Entry threshold began at $890,000, up 3.5%

Fort Lauderdale

Overview:

• Condo sales rose above for the fourth consecutive quarter

• Condo listing inventory rose for the first time in six quarters

• Single family price trend indicators were mixed as condos moved higher

• Condo luxury price trend indicators surged

• Single family luxury price trend indicators showed mixed results as average sales size declined

Key Trend Metrics(Year Over Year)

Overall:

Luxury Condo

• Median sales price increased 25.8% to $1,550,000

• Average price per square foot rose 21.1% to $619

• Days on market was 131, down 34.5%

• Listing discount was 5.6%, down from 7.7%

• Listing inventory fell 28.7% to 256 units

• Entry threshold began at $1,095,000 up 41.3%

Luxury Single Family

• Median sales price rose 7.4% to $2,125,000

• Average price per square foot slipped 4% to $572

• Days on market was 176, down from 190

• Listing discount was 9.5%, down from 16.4%

• Listing inventory declined 7.4% to 338 units

• Entry threshold began at $1,500,000, up 22%

BOCA RATON

Overview:

• Condo median sales price hasn’t seen a year over year decline in ten quarters

• Sales for condos and single-families have increased year over year for two consecutive quarters

• Luxury condo and luxury single family price trends moved higher, consistent with rise in sales size

Key Trend Metrics(Year Over Year)

Overall:

Luxury Condo

• Median sales price rose 9.4% to $902,500

• Average price per square foot rose 32.8% to $466

• Days on market was 108 days, up from 101

• Listing discount was 6.7%, down from 8.9%

• Listing inventory declined 13.7% to 308

• Entry threshold began at $590,000, up 9.6%

Luxury Single Family

• Median sales price rose 5.6% to $2,112,500

• Average price per square foot rose 5.8% to $402

• Days on market was 187 days, down from 217

• Listing discount was 9.7%, down from 12.5%

• Listing inventory edged up 1.7% to 408

• Entry threshold began at $1,286,200 up 0.7%

DELRAY BEACH

Overview:

• Single-family sales and median sales price have been rising year over year for four consecutive quarters

• Condo median sales price showed twelve consecutive quarters without a year over year decline

• Luxury single family price per square foot moved higher as the other indicators were pulled down sharply by drop in sales size

Key Trend Metrics (Year Over Year)

Luxury Condo

• Median sales price rose 14.5% to $537,500

• Days on market was 102, up from 66

• Listing discount was 6.9%, up from 4.9%

• Entry threshold began at $325,000, down 1.5%

Luxury Single Family

• Median sales price declined 10.9% to $1,741,250

• Days on market was 156, up from 104

• Listing discount was 5.9%, down from 10.4%

• Entry threshold began at $1,150,000, down 3.4%

WELLINGTON

Overview:

• Condo median sales price year over year for the tenth consecutive quarter

• Condo sales rose annual for three of the last four quarters

• All single-family price trend indicators increased year over year for the third consecutive quarter

• Luxury condo price trend indicators pulled lower by sharp decline in average sales size while the opposite occurred for luxury single-family price trends

Key Trend Metrics(Year Over Year)

Luxury Condo

• Median sales price slipped 1.8% to $665,000

• Average square footage declined 18.3% to 1,878

• Days on market was 77, down from 148

• Listing discount was 4.5%, down from 8.2%

• Listing inventory jumped 52.2% to 35

• Entry threshold began at $435,000, down 17.9%

Luxury Single Family

• Median sales price jumped 88.2% to $2,000,000

• Average square footage rose 1.7% to 4,662

• Days on market was 195, up from 115

• Listing discount was 8.9%, up from 7.7%

• Listing inventory declined 33.6% to 186

• Entry threshold began at $1,010,000 up 47.4%

Palm Beach

Overview:

• Condos continued to dominate with the highest sales share

• Single family and luxury price trend indicators skewed significantly lower by the sharp decline in average sales size

• Majority fourth quarter market wide sales in 5 years

• Luxury inventory returned to more modest levels after limited availability over the past two years

Key Trend Metrics (Year Over Year)

Luxury Family And Single Condo

• Median sales price declined 57.8% to $6,426,750

• Average price per square foot fell 22.5% to $1,443

• Average sales size dropped 52.1% to 4,515 square feet

• Days on market was 100, down from 496

• Listing discount was 9.1%, down from 18.3%

• Listing inventory jumped 104.1% to 100

• Entry threshold began at $4,250,000, down 59.9%

JUPITER / PALM BEACH GARDENS

Jupiter Overview:

• Single family price trend indicators and sales moved higher

• Condo sales and price trend indicators all rose for the third consecutive quarter

Palm Beach Gardens Overview:

• Single-family price trend indicators showed double-digit gains as sales decreased

• Condo sales slipped again as price trend indicators continued to rise

Key Trend Metrics (Year Over Year)

Jupiter Single Family                                                                              

• Median sales price jumped 15.4% to $525,000

• Days on market was 70, up from 62

• Listing discount was 5.8%, up from 5.6%

• Listing inventory declined 5.7% to 413

Jupiter Condo

• Median sales price rose 11.3% to $310,000

• Days on market was 60, up from 59

• Listing discount was 4.1%, down from 5.2%

• Listing inventory rose 5.2% to 304

Palm Beach Gardens Single Family

• Median sales price increased 10.6% to $470,000

• Days on market was 82, unchanged

• Listing discount was 7.8%, up from 6.6%

• Listing inventory rose 5.2% to 527

Palm Beach Gardens Condo

• Median sales price rose 2.1% to $240,000

• Days on market was 52, up from 48

• Listing discount was 3.9%, down from 4.6%

• Listing inventory jumped 41.7% to 299

Article by Stephanie Warren

Brazilian Billionaire Jose Isaac Peres Reveals Plans For 312 Ocean Park In South-Of-Fifth

Brazilian billionaire developer Jose Isaac Peres of Multiplan Real Estate Asset Management, has proposed 312 Ocean Park in South Beach’s South-Of-Fifth neighborhood. 312 Ocean Park will be a luxury, boutique condo building located at 304 and 312 Ocean Drive, the 11,500 SF lot vacant lot across from Marjory Stoneman Douglas Park which the developer acquired for $9.85 million in December 2018. 312 Ocean Park, which is being designed by Luis Revuelta of Revuelta Architecture, will rise 4-stories and offer 10 residential units including two duplex penthouses and two lanai-style homes. Amenities will include 20 parking spaces, a private amenity deck with a pool. The project is currently under the approval process including from the Miami Beach Historic Preservation Board and is expected to launch sales as early as next year with a construction timeframe of 12 to 14 months.

For more information about 312 Ocean Park, private showings or purchasing/ leasing information please fill out the form below:

Douglas Elliman Appoints Patricia Rotsztain As Managing Broker for Miami Beach Offices

Douglas Elliman, the third largest residential real estate company nationwide, has appointed Patricia Rotsztain as the new Managing Broker for the firm’s Miami Beach offices. Patricia holds a Master’s Degree in Psychology and is a graduate of Harvard's AMDP (Graduate School of Design). During her previous tenure, Rotsztain closed on major deals such as the sale of the Auto Nation Honda dealership, a selection of Wynwood properties, Little Havana multifamily buildings and land deals throughout the area. She has also served as Governor of the Miami Association of Realtors, comprised of over 50,000 members.

“We are honored to welcome Patricia Rotsztain to Douglas Elliman where her wealth of experience and leadership skills will serve as phenomenal asset in overseeing our daily operations in Miami Beach,” said Jay Phillip Parker, Douglas Elliman’s Chief Executive Officer for Florida.

Under Rotsztain’s leadership, Douglas Elliman will open a third Miami Beach office as the firm further expands its reach in South Florida, located at 120 Ocean Drive in South Beach’s newest luxury development, GLASS. The ground retail space will serve as the home to Miami Beach top agents Eloy Carmenate, Mick Duchon and Dina Goldentayer. The 671 SF office was designed by renowned Miami architect, Rene Gonzalez. The office was designed with warm tones and decorations, encapsulating the appeal and present day improvement represented through the South of Fifth neighborhood. With over 20 years of experience specializing in commercial deals, investment properties, new development sales and luxury residential, Patricia Rotsztain explained “Douglas Elliman is home to many industry leaders and top agents across the nation, it is truly an honor to bring my expertise to Elliman’s Miami Beach region while working alongside some of the most recognized brokers in the business.”

Article by Stephanie Warren

Venetian Islands Masterpiece With Landscape Design By L&ND Design Hits Market For $22.5 Million

A new architectural masterpiece on the Venetian Islands with views of Downtown Miami and stunning landscaping by L&ND Design has just hit the market $22,500,000. The home features the last and only city approved rooftop terrace with elevator access, leading to a 2,300 SF outdoor space featuring a summer kitchen, covered dining and outdoor shower. The home is spread over 3 floors, offering 8,665 SF of living space featuring 5 bedrooms, 6.5 baths, rooftop lounge, cabana bath and over 100’ of water frontage.

Inside, the home features a dual floating staircase known as pièce de résistance, crafted out of wood, glass and stone. Design elements incorporate Boffi & Gaggenau Kitchen, European white oak flooring, wine cellar with Acacia wood custom made in Italy can hold up to 2,000 bottles, floating walls, 12 feet ceilings and a Master Suite that floats above the Bay. The standout interior also features design elements such as a double height dramatic foyer entrance with black granite flooring and Stained white oak details, Micro cement on walls mixed specifically for this home to match exterior façade, Fiberglass wall for natural light, Burnt cement elevator landing and custom 12’ door, Koi ponds throughout the exterior, green living wall, Fleetwood Windows with Sun tint, Motorized shades throughout, Sun shades in living areas and Stackable window system for indoor/outdoor flow.

The home also features landscape architecture by former design director of Raymond Jungles, Matthew C. Lewis and his firm L&ND Design, including a spectacular wrap around living green wall, a secret garden for outdoor dining, and a bayfront lounge. A negative edge swimming pool, custom hot tub, 2 car garage, and fully automated Crestron Audio/Visual Systems.

430 W San Marino Drive is currently listed for $22,500,000 with Dina Goldentayer of Douglas Elliman Real Estate.

For more information about 430 W San Marino Drive, private showings or purchasing information please fill out the form below:

Miami Beach Commissioners Vote To Finalize Deal With Crescent Heights At South Shore Hospital Site On Alton Road

Miami Beach commissioners have officially voted in favor of finalizing the proposed deal with Crescent Heights and its co-founder Russell Galbut to redevelop the former South Shore Hospital site on Alton Road in South Beach. As per the agreement Crescent Heights will fund and build a 3 acre park on the Alton Road site in exchange to allow Galbut to up-zone the site where commissioners approved a tower height increase to 519’. The tower is being designed by Arquitectonica and will rise 44-stories, offering 410 luxury units which the developer will be allowed to rent as short term rentals with a minimum term of 30 days per rental. After sale-and-purchase of the condo units the buyers will not be permitted to rent out their condos on a short term rental basis. The park which will be connected to the baywalk which wraps around South Pointe via a taxpayer funded pedestrian bridge. Galbut now has 6-months after the appeal periods to demolish the vacant South Shore Hospital and must complete the park within 2.5 years after the construction permit for the tower is issued, which must be completed with in 8 years. Should Galbut wish to flip the property he must retain 10% ownership.

Explore This Classic Pine Tree Drive Miami Beach Estate On Indian Creek Asking $13.75 Million

You can now become DJ Khaled’s neighbor on Pine Tree Drive for $13.75 million. The classic estate located at 4745 Pine Tree Drive in Miami Beach has not shortage of celebrity neighbors including Floyd Mayweather & DJ Khaled, who just recently purchased a house a few doors down.

The sprawling mansion sits on an acre of land and features nearly 7,000 SF, spread over 12 bedrooms, 9.5 baths, 3 detached guest houses and a long driveway surrounded by royal palms, which create a dramatic entrance to the home. The interiors feature large rooms, formal dining, a library, gourmet chef’s kitchen & a grand salon. Outside the estate offers sweeping views of Miami Beach, a vast outside lounge area and 100’ feet of water frontage plus an infinity pool with fountains.

4745 Pine Tree Drive is currently listed for $13,750,000 million with Mirce Curkoski & Albert Justo of The Waterfront Team with ONE Sotheby’s International Realty.

Photos via The Waterfront Team of ONE Sotheby’s

For more information about 4745 Pine Tree Drive, private showings or purchasing/ leasing information please fill out the form below:

Renzo Piano's Eighty Seven Park Reveals Record-Breaking $68 Million Penthouse

Eighty Seven Park by Renzo Piano Building Workshop has revealed its penthouse in record breaking fashion. Priced at $68 million, the penthouse is unlike any other property on the market and is 2018’s most expensive home in Miami. The penthouse floats atop 18 stories and completes the remaining two floors of the boutique condominium, spanning 25,000 SF with 360-degree park, city and ocean views that embrace nature more than anywhere else.

As the realized vision of Pritzker-Prize-winning architect Renzo Piano, Eighty Seven Park’s expertise at “bringing the outdoors in” has captured contracts with high-profile buyers like Novak Djokovic and more. The project is developed by Terra, along with Bizzi & Partners Development, New Valley and Pacific Eagle. A true gem and a modern-day sanctuary, Eighty Seven Park’s penthouse is filled with every luxe amenity anyone could ever imagine to ensure there’s no need to ever want to leave home.

Terra’s President David Martin said he wanted the penthouse to offer its future keyholders a home that “pays unrivaled attention to detail,” and this iconic residence truly leaves no stone left unturned.

The penthouse is designed by RDAI, best-known for their long history with Hermès. It features six bedrooms, eight bathrooms, three powder rooms with 12,410 SF of interior space and 18,247 SF of outdoor terrace. The residence also features unobstructed ocean, park and city views; a personal fitness center, two private elevators, a state-of-the-art home cinema, floor-to-ceiling windows, vertical gardens, a personal Turkish hammam, two 40’ long sunset and sunrise infinity pools, jacuzzi, outdoor theatre, putting green and two summer kitchens.

“We looked to provide a serenely relaxed atmosphere,” said RDAI Design Director Julia Capp about the penthouse. “Its incredible location and views allow the light to gently infuse the interior and maintain contact with the exterior – which was an integral part of the design.”

“We want to engage and bring purposeful living not only to the buyers of Eighty Seven Park, but to the North Beach neighborhood as a whole,” says David Martin, President of Terra. “Along with the attention to detail that was poured into every aspect of Eighty Seven Park, our development also focused on urban planning that contributes to the neighborhood. We have discerning buyers from all around the world who recognize that there is intrinsic value in purchasing long-lasting assets with positive community impact.”

Away from the noise, Eighty Seven Park is nestled in North Beach where exclusivity is high, yet availability is low. At 80% sold, Eighty Seven Park is the one of the only boutique options still available for purchase. Eighty Seven Park is also the only building that has no more than four residences per floor, a residents-only garden, five-star amenities without hotel hassles, and a 35-acre park transformed by West 8 next door.

“Eighty Seven Park is a project that is truly singular for the South Florida market,” said Howard M. Lorber, Chairman of Douglas Elliman Realty. “It’s world-class architecture by Renzo Piano, direct oceanfront location, high-caliber interior design and luxury suite of amenities has proven to be appealing to buyers from across the United States and from around the globe. We look forward to continued sales success now that the super-structure is complete.”

For more information about Eighty Seven Park, private showings or purchasing/ leasing information please fill out the form below:

Check Out The Newly Released Video Of The 3 Acre Park Coming To Alton Road As Part Of Deal With Russell Galbut

Miami Beach has struck a deal with Crescent Heights co-founder Russell Galbut to bring a 3 acre park to Alton Road in exchange to allow Galbut to up-zone the old South Shore hospital site in South Beach. Commissioners approved a tower height increase to 519’, in exchange Galbut will fund and develop the 3 acre park which will be connected to the baywalk which wraps around South Pointe via a taxpayer funded pedestrian bridge. Galbut will have 6-months after the appeal periods to demolish the vacant South Shore Hospital and must complete the park within 8 years after the construction permit for the tower is issued. Should Galbut wish to flip the property he must retain 10% ownership. A subsequent hearing will take place in December.