NBA Star Kevin Durant's Former Miami Penthouse At 900 Biscayne Hits Market For $3.6 Million

The Golden State Warriors’ NBA superstar Kevin Durant’s one-time Miami pad where he shared neighbors such as Dwayne Wade and other NBA stars in 2015 has hit the market for $3,600,000. The penthouse is located high atop Downtown Miami’s 900 Biscayne and was sold by Durant in 2015 before renting at a record breaking $18,000 per month, the highest rental in Downtown Miami at the time. Durant personally renovated, remodeled and furnished the unit which has remained the same since.

The residence offers 3,793 SF of interior space and 1,000 SF of outdoor terrace space spread over 3 bedrooms, a private cinema, staff quarters and 4.5 Bathrooms. The penthouse also features a private elevator, custom mosaic-tile and floor-to-ceiling glass windows/doors throughout, and a gourmet kitchen with white lacquer cabinetry, Sub-Zero & Miele appliances, wine refrigerator, built-in espresso machine, ice maker, chef’s cooking island and an eat-in kitchen island. The spacious master suite includes sitting area, 2 custom walk-in closets, jacuzzi, glass-enclosed shower, dual vanity & water closet. The living spaces include expansive entertainment area with dining/living/great rooms and stunning bay and skyline views throughout. The penthouse is also upgraded with Creston & Savant systems w/Sonos server, Lutron lighting & Somfy shades.

900 Biscayne Bay, Apt. 6307 is currently listed for $3,600,000 with Michael and Jaimee Light of Miami Luxury Homes Group of Douglas Elliman.

Photos via Miami Luxury Homes Group at Douglas Elliman

For more information about 900 Biscayne, private showings or purchasing/ leasing information please fill out the form below:

Check Out This Choeff Levy Fischman-Designed Palm Island Mansion Which Just Sold For $24.57 Million

73 Palm Ave. located on Miami Beach’s prestigious Palm Island and designed by Choeff Levy Fischman, has been sold for $24.57 million. The tropical modern mansion offers 9-bedroom and 10.5-bathrooms spread over 14,200 SF with a large rooftop terrace and water views. The home was listed with Mirce Curkoski and Albert Justo of ONE Sotheby’s International Realty and the buyers agent was Jeff Miller of Brown Harris Stevens.

The home was designed by Raphael Levy and Ralph Choeff of Choeff Levy Fischman Architecture + Design with indoor-outdoor living through vast opening sliding glass doors and wide-open interior and exterior spaces that blur the separation between interior and exterior environments. The architects also designed a cascading water feature located before you enter the home that empties into a reflecting pond that has stepping-stones over it so it appears as if you’re walking on water. Other features include a floating three-story stairs off the entry that create a sculptural feel and vertical wood elements throughout the homes interior and exterior.

The interiors were designed by Charlotte Dunagan and Philippe Harari and furnished throughout with Minotti and Poliform, amongst others. 73 Palm features a custom Italian kitchen, home theater, wine cellar, vast open living areas and a private elevator. The large master suite is one of the highlights of the house with water views, a large terrace with private hot tub, and a master bath that features a shower and tub area that appears to be floating in the master bath with full visual connection to an exterior bamboo garden giving that area light and privacy.

Outside the grounds are stunningly landscaped by Mauricio Del Valle with over 100’ of water-frontage, a gazebo with summer kitchen and multiple sitting areas. A waterfront infinity edge pool flows into shallow water that becomes a reflecting pond that wraps around an island that has lounge seating .The shallow water continues to the rear slider at the interior lounge to make it appear as if the water enters the interior of the residence once the sliders are fully open.

73 Palm is also full of sustainable green features including very high SEER air-conditioning units, large vast opening sliding doors, LED lighting, insulated glass and lots of glass for natural light in order to eliminate turning on the lights in many areas during the daytime. The home is also outfitted with a Creston automated smart home system.

For more information about homes on Palm Island, private showings or purchasing/ leasing information please fill out the form below:

New Renderings Revealed Of The Proposed Puerto Rican Chamber of Commerce In Wynwood

New renderings have been revealed of the Berenblum Busch Architects-designed proposal for the Puerto Rican Chamber of Commerce, to be located in Wynwood. Located at 2900 NW 5th Ave., the project is being developed by Moishe Mana and will feature 43,466 SF of total development. It is expected to cost around $8.4 million for the build-out and will be part of a land swap between Mana and Miami-Dade. The Puerto Rican Chamber of Commerce will be used as a county district office and Puerto Rican Community Center; additionally, the development will offer artist studios, a cafe, community spaces, offices and parking.

Lower Penthouse In Fortune's Herzog & de Meuron-Designed Jade Signature Sells For $18.5 Million

A penthouse in one of the world’s top high-rises for 2018, Jade Signature designed by Herzog & de Meuron, has sold for $18.5 million. The five-bedroom, seven and a half-bath residence closed for $2,015 per square foot. The luminous penthouse is 9,183 square feet complemented by 12-foot ceilings, walls of glass,and a full-floor residence featured unobstructed panoramas. The residence was designed for entertaining featuring a double-sized living room, a family room, breakfast room, bar, library, study, private gym and a playroom. There is additionally a private pool, a kitchen with European designer cabinetry by Snaidero and appliances by Gaggenau and Sub-Zero, and custom-designed baths, including cabinetry with marble countertops and marble flooring. The master suite is marked by a double-sized sitting room, an office, and separate his and her baths and dressing areas.

“This latest transaction exemplifies the unmistakable allure Jade Signature retains worldwide,” said Edgardo Defortuna, President & CEO, Fortune International Group. “Buyers here have consistently lauded the building’s incomparable innovation and craftsmanship. From its prizewinning architecture to its artfully designed interiors, the attention to detail and use of luxury materials within Jade Signature are incomparable.”

Jade Signature has various luxurious offerings with limited residences such as “The Collection” which consists of the two story Sky Villas and an two-story penthouse ranging from $12.9 million to $29.5 million. The Sky Villas offer stunning features, such as flow-through views, expansive terraces, private elevators, smart technology,and designed bathroom cabinetry. A two-story penthouse is also available offering five-star amenities such as a private pool, gym and 360-degree views. Additional offerings include three- to five-bedroom residences, with sizes starting at 3,465 square feet and prices starting at $4.5 million.

Since opening last March, Jade Signature has been the recipient of numerous accolades, including being named by Dezeen magazine (among the most prestigious architecture and design publications) as one of the “Top 10 Skyscrapers of 2018.” The tower was also honored with the 2018 International Property Awards’ “Best in USA” for Residential High-rise Architecture and Residential High-rise Development, and the “Best of Show” award in the 2018 Florida’s Best Awards, presented by the Builder’s Association of South Florida (BASF). The condominium features designs by PYR, led by Pierre-Yves Rochon in Paris, and landscaping by Raymond Jungles.

Penthouse Views:

Article by Stephanie Warren

For more information about Jade Signature, private showings or purchasing/ leasing information please fill out the form below:

YOTELPAD Miami Reaches 50% Sold Six Months After Launching Sales In Downtown Miami

Aria Development Group, a New York and Miami-based real estate investment and development company, along with joint venture partner, AQARAT, one of Kuwait's leading real estate companies, has announced that YOTELPAD Miami is now 50% sold just six months after launching sales in June 2018. OneWorld Properties led by Peggy Olin is the exclusive sales and marketing team for YOTELPAD Miami. The mixed-use hotel and residential development, which will be the first YOTELPAD on the East Coast, is located in Downtown Miami and is slated for completion in early 2021. The development’s attractive short-term rental options without any restrictions and leaseback program offer owners flexibility. More than 40% of YOTELPAD Miami’s buyers are investors from Mexico and China with a substantial amount of investors also coming from Argentina, Colombia and other South American markets.

“Our team has sold over 18 units per month over the last six months – that is 111 units and counting. This is something we have not seen in Miami in a long time,” said Peggy Olin, president and CEO of OneWorld Properties. “Buyers understand the value and freshness of the YOTEL brand and are looking for flexibility and a prime location. Miami serves as a significant gateway to global markets and has one of the largest financial districts in the U.S. Our team was able to take all the incredible elements of this project and the Downtown area to deliver the right product for this market.”

“The realization of YOTELPAD is a major milestone for Downtown Miami,” said David Arditi, principal of Aria Development Group. “It’s the first time a global hospitality brand will offer luxury living at an attainable price point. The innovative PAD concept, with its clever and adaptable floorplans and flexible rental options, is being received with great enthusiasm by local and international buyers alike. We are excited to forge ahead with construction and bring this highly-anticipated project to life.”

Upon completion of the project, YOTELPAD Miami will incorporate three Techi robot butlers capable of delivering beverages, food, gifts, documents and more. Raising the standard for residential amenities, two robots will be available to residents and one will be designated to guests of the hotel. The robots can be programmed to speak a variety of languages, dialogues and play digital files with music and voice recordings. Other amenities include concierge services, secure bike storage, gourmet matcha bar, full-service restaurant and bar with outdoor seating and private dining, state-of-the-art fitness center, co-working space, a lounge, pool deck and pet salon. In addition, each PAD will come with a dedicated storage unit. Global design and engineering firm Stantec is the lead architect, interior designer and engineer for the project.

“As global experts in the residential real estate market, we believe in YOTEL’s new ‘live smarter’ PAD concept,” said Fahad Al-Shamlan, vice president of Investments & Acquisitions for AQARAT. “Our partnership with Aria Development Group on this project will transcend the boundaries of luxury in high-end resort destinations for the modern person.”

The 31-story YOTELPAD Miami, which is located at 227 NE 2nd Street and designed by Stantec, will feature 222 Yotel-branded “cabins” (hotel rooms), 231 “PADs” (condominiums) and amenities such as a Skytop Lounge, pool deck with restaurant and bar, fitness center, co-working space and pet spa. The hotel portion is located on floors 2-12 with the condominiums on floors 15-30. Condominium owners and residents will have access to exclusive amenities such as a 2,000 SF “Lounge in the clouds” with game area and chef’s kitchen. The high-tech units include studios to one- and two-bedrooms and range in size from 417 SF to 708 SF with top-of-the-line flooring and lighting, floor-to-ceiling glass windows, custom European cabinetry and Smeg brand Italian appliances. YOTELPAD Miami is scheduled for completion in early 2021.

For more information about YOTELPAD Miami, private showings or purchasing/ leasing information please fill out the form below:

Avison Young Acquires Front Street Commercial Real Estate Group, Marking The Firms 8th Florida Office

Avison Young has acquired Front Street Commercial Real Estate Group, marking their 8th Florida office and 59th office in the United States. Front Street Commercial Real Estate Group is a full-service commercial real estate brokerage and property management company based in Gainesville, Florida, with satellite offices in Ocala, Sarasota, Jacksonville, Orlando, and Tallahassee. Front Street has rebranded as Avison Young and 26 new members have joined the firm. Terms of the transaction were not disclosed.

Nick Banks becomes a Principal of Avison Young and Managing Director of the new Gainesville office. He will manage its day-to-day operations and lead the company’s strategic growth in Gainesville and across North Florida with a mandate to expand the company’s footprint, particularly in retail. He will also help Avison Young expand its service lines, particularly property management, in Jacksonville. Banks brings to Avison Young 25 years of commercial real estate experience, most recently as Managing Director of Front Street, which he founded in 2002. The firm is a leader in the region’s commercial real estate market and offers services for all property types, including office, retail, flex/industrial and land. The company has developed particular expertise in retail property brokerage. Relationships with national retail brands as well as private and institutional owners of retail properties have fuelled the majority of the firm’s growth throughout North Florida.

“We are thrilled to be opening our first office in Gainesville and, at the same time, expanding our presence in North Florida,” comments Rose. “The acquisition of Front Street reinforces our strong foundation in Florida and assists our rollout in the northern area of the state, particularly in terms of retail brokerage and all aspects of property management. By bringing Nick and the rest of the Front Street team on board, we are adding individuals who are respected for their leadership, extensive industry experience and in-depth local and regional market knowledge. More importantly, they will fit seamlessly into our Principal-led, collaborative culture and provide a superior level of service to clients.”

“The Front Street team has established itself as a market leader throughout the North Florida region,” states Earl Webb, Avison Young President, U.S. Operations. “This acquisition will be highly beneficial to many of our occupier and investor clients throughout Florida. Front Street has built a high-quality service platform that provides creative real estate solutions, and Avison Young looks forward to growing our company’s presence in Gainesville, which we believe is an underserved market. Nick Banks has consistently provided excellent client service during his career while building a broad-based service platform at Front Street and other firms where he has worked. Additionally, the new team has a number of senior managers and brokers who will enhance our client-service capabilities in all asset classes and service lines.”

Also joining Avison Young from Front Street are brokers Rick Cain, Jason Hurst, Gavin Johnson, Beau Broker, Nick Robinson, Mike Oransky, Tim Deardourff, Flavia Kanyago, Bobby Nickels, Jennie Bram, Andrew Smith, Keith Crutcher and Edmund Aramayo. Property management specialists joining are: Cheryl Carroll, Alex Ling, Terri Smaistrla, Fred Maccioli, David Sooy and Aaron Graham. Joining as administrative and marketing specialists are: Sue Fisher, Natascha Kehri, Virginia MacKoul, Sara Padgett, Dustin Walsh and Alexandra Morales.

Front Street currently manages 20 properties totaling more than 1 msf of office, retail, industrial and multi-family space, including hundreds of apartment units, in the North Florida region. Properties under management include Innovation Square, an affiliated entity of the University of Florida; and Tioga Town Center, a mixed-use town center consisting of approximately 150,000 sf of retail, office and multi-family units. The acquisition brings Avison Young’s total square feet of office, retail, industrial and multi-family properties under management in Florida to 19 msf. Avison Young has more than 120 msf of retail, industrial and office properties under management in North America.

“With the opening of the new Gainesville office, Avison Young now has a strong presence in all of Florida’s regions,” notes Pike Rowley, Avison Young Principal and Managing Director of the company’s Florida region. “The acquisition of Front Street enables us to accomplish several goals as we attempt to expand Avison Young’s reach into North Florida and grow our retail service lines statewide. The Gainesville area has been a rapid-growth market in Florida, driven by the University of Florida and UF Health at Shands and the emerging industrial sector in Ocala.”

“The acquisition enables us to bolster our retail service line in North Florida and, in one fell swoop, add brokerage and property management expertise in five other cities served by Front Street team members. Nick Banks is a strong leader who is deeply involved with the Gainesville business community. Furthermore, he is well-versed in the development and financial- underwriting area of the capital markets service line. He will be an integral member of our retail and capital markets practices,” added Rowley.

“Our team has been humbled by the support we have received from clients and other stakeholders over the last 16 years as we have built the Front Street brand from scratch and then throughout North Florida,” says Banks. “We could not be happier about joining a company like Avison Young, whose collaborative culture and values match ours so perfectly. We are excited about being a part of a growing and entrepreneurial platform like Avison Young. We also look forward to discovering what the resources of a global, Principal-led company can do to enhance the service that we bring to our clients. “

Avison Young’s new Gainesville office is located at 132 NW 76th Drive.

Metronomic Breaks Ground On TriniSuites Calle Ocho, Their New Off-Campus Student Housing Project In Little Havana

The Miami-based real estate development company Metronomic, Inc. has broken ground on TriniSuites Calle Ocho, an eight-story off-campus student housing building located at 2500 SW 8th Street in Little Havana. TriniSuites Calle Ocho will offer 30 turn key, fully furnished one- and two-bedroom student housing units ranging from 445 SF to 510 SF. The 20,788 SF building is designed by local architecture firm CLAD Architecture and Design. TriniSuites Calle Ocho part of a new seven building student housing community which will accommodate college students of Miami-Dade College, Florida International University (FIU), the University of Miami (UM) and numerous other colleges and universities, providing students with ease of access leasing, and a state-of-the-art student experience while filling the much-needed void for off-campus student housing throughout Miami. The decision to rent by the bed, co-living, or long term leases have yet to be determined.

Residents of seven TriniSuites buildings will have access to amenities including fitness centers, pools, rooftop garden/terraces, party/special-event rooms, student café’s, game rooms, a business center and more. The TriniSuites community will also offer a secure keyless entry system, 24-hour security, nearby public transportation, turn-key furnished units, and many other features and amenities designed to enhance student life. Metronomic, Inc. is also planning a student exchange and cultural immersion program for foreign students that will be incorporated into the TriniSuites community, to be announced at a future date.

“Metronomic understands there is a dire need for convenient student housing throughout Miami. The TriniSuites community is designed to help students easily secure quality housing while improving their quality of life and education,” said Ricky Trinidad, President of Metronomic. “The TriniSuites community and Metronomic are committed to enhancing education and student life in Miami, while benefiting the community of Little Havana and the City of Miami with quality new infill developments that create and produce impactful aesthetic, environmental, social and economic improvements.”

TriniSuites Calle Ocho is Metronomic’s third student housing building to break ground and will be centrally located, only one block from Miami Dade InterAmerican Campus in the heart of the historic Little Havana neighborhood. TriniSuites MetroPlace, TriniSuites MetroPark and TriniSuites Plaza Celia are currently under construction and expected to be completed by Spring and Summer 2019, while completion of TriniSuites Calle Ocho is slated for January 2020. All of the TriniSuites buildings are planned for completion by the first quarter of 2020.

Construction On Two Road Development's 57-Story Elysee Miami Passes 18th Floor In Edgewater

Construction at Two Roads Development’s Elysee Miami, the 98-unit, 57-story condominium project rising at 788 NE 23rd Street along Biscayne Bay, has reached the 18th floor after breaking ground in December 2017. When completed Elysee will rise 648’ tall and will be one of the tallest condominium towers in Downtown Miami. John Moriarty & Associates is the general contractor on the project. Elysee is expected to be completed in 2020 and is being developed in partnership with the New York-based DW Partners. Sales at Elysee have reportedly been steady and the tower is roughly 50% sold. As the development team looks to sell the remaining residences over the next 18 months, Douglas Elliman Development Marketing has taken over as the exclusive sales and marketing team for the tower which was previously overseen by Cervera.

In February Two Roads Development will open a new sales gallery in the nearby Biscayne Beach Residences, which they developed and delivered in 2017. The sales center which will encompass 5,500 SF of indoor and outdoor space with panoramic views of Biscayne Bay and will also feature high ceilings, emulating a finished residence at Elysee Miami and offering prospective buyers a preview of the elegant designs created by interior designer Jean-Louis Deniot.

Elysee was designed by architect Bernardo Fort-Brescia of Arquitectonica with a unique, 3-tiered telescoping shape and will provide direct 180-degree bay and city views from every residence. The tower’s elegant design concepts are the creation of Paris-based designer Jean-Louis Deniot, one of the world’s preeminent talents in interior design, who has imagined the building’s common area amenity spaces.

Elysee will feature 98 half-floor and full-floor residences priced from $1.5 million to $14 million and ranging from 2,300 SF to over 4,000 SF. Luxury residences at Elysee will include floor-to-ceiling glass windows and sliding doors, private elevators and foyers, 10' to 12' ceilings, designer finishes and fixtures, premium appliances, top-of-the-line Italian cabinetry, as well as two expansive east/west-facing terraces with 180-degree sunrise and sunset views. Interiors were designed by Paris-based interior architect and designer Jean-Louis Deniot. The 7th floor will feature an amenity deck which will include a resort-sized lap pool with a poolside refreshment bar, outdoor summer kitchen and barbecue terrace; waterfront fitness center and yoga studio; spa facilities with private sauna, steam and massage rooms; children’s lounge; and a blow-dry bar. The 30th-floor will feature an Owners Sky Lounge with Grand Salon lounge area and full bar; a Grand Dining Room with seating for up to 30 guests; a professional-grade chef’s kitchen and chef’s table; and a library/private theater, game room, and wine room.

For more information about Elysee Miami, 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

Jeff Soffer's Lavish Turnberry Ocean Club Reveals Its Ultra-Luxe Amenities In Sunny Isles Beach

Turnberry Ocean Club, currently under construction in Sunny Isles Beach, has revealed new renderings of its ultra-luxe amenities as well as unveiled its new amenity, the in-residence hotel guest suites. Laid out just like a grand hotel suite at Turnberry Isle, residents of Turnberry Ocean Club have access to two complimentary guest suites within the tower that can be reserved in advance. They are the only residential tower to house complimentary guest suites for resident’s guests.

Other resort style amenities include sunrise and sunset infinity-edge pools, an on-property coffee café, three on-site upscale residents-only restaurants, game room, kids club, and kids room. On floors 30-32 will be a Sky Club which will offer private dining and event space with over 1,585 SF and an equally sizable terrace, flanked by a catering kitchen and capable of entertaining up to 150 guests. The Sky Club will also offer a cantilevering infinity-edge sunset pool, indoor and outdoor fitness centers, fine dinging, a sunset lounge, hydrotherapy, cabanas with ocean views, a salon, "sky theater" and a "pet retreat." On the beach residents have access to a full-service beach club with chairs, umbrellas, towels, refreshments, snacks, meals and libations from the pool bar and restaurant. There will also be beach cabanas with attendants. Buyers will also receive complimentary membership to Turnberry Isle Country Club with access to Tidal Cove. The state-of-the-art outdoor recreation area will add five-acres of pool deck to the resort with features that include a 60’ tower with seven water slides, a 4,000 SF kids pool with an aquatic play structure, and the first-ever FlowRider® Triple surf simulation pool in the nation.

When complete Turnberry Ocean Club will rise 649’ tall, 54-stories, and will offer 154 units. Units range from 2,900 SF to over 10,645 SF. Pricing ranges from $3.9 to $35 million with the higher-end of the scale consisting of duplexes that come complete with their own swimming pools and start at $19.5 million. Turnberry Ocean Club Residences is being developed by Beach Club Acquisitions LLC, an affiliate of Turnberry Associates led by Donald Soffer, Jeffrey Soffer, and Jackie Soffer. The building will be designed by Carlos Zapata and Robert Swedroe. The tower broke ground in November 2016 at 40% sold and construction is nearing halfway complete.

Check out the December 2018 construction update and new renderings below:

Residences

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