MultiplanREAM's 57 Ocean Reveals Ten Sky Residences Including Exclusive Penthouse Duplex

MultiplanREAM has revealed 10 Sky Residences which are being added to 57 Ocean as the developer is reconfiguring the building’s design to make way for bigger, more expensive units. The shift is to address the high demand from East Coast buyers, bringing the unit count to 71 units, and comes about a month after the project broke ground. MultiplanREAM’s founder, José Isaac Peres, has reiterated, “supply does not drive demand. Product does.”

The Sky Residences, which start at $6.95 million, have a flow-through design and offer more than 5,000 SF of indoor/outdoor living space. Each residences features four bedrooms, five and a half baths, a family room, and 12’-deep terraces facing both the city and the ocean. High-net-worth-buyers have been snatching up 57 Ocean’s existing Sky Residences, with 50% of the original collection having sold since sales launched in October 2018. MultiplanREAM anticipates continued strong sales and demand for these larger homes, which specifically appeal to well-heeled end-users who are seeking a single-family-style home in a brand-new beachfront condominium.

Multiplan REAM also revealed 57 Ocean’s exclusive “Penthouse Duplex.” Penthouses at 57 Ocean range from $15 million to $35 million. The massive “Penthouse Duplex” is a glass house in the sky and the ultimate customizable penthouse offering flexibility in terms of its size. The developer currently has the option of combining the two existing penthouses into one show-stopping, 360-degree top-floor estate, or expanding either or both of those penthouses into the floor below, which is what the Duplex would accomplish. Since the project is self-financed by Peres, more can be done upfront to suit the needs of discerning buyers.

57 Ocean is designed by Bernardo Fort-Brescia of Arquitectonica with interiors by Brazilian designer Patricia Anastassiadis of Anastassiadis Arquitetos. Amenities are comprised of a holistic wellness spa and pavilion, complete with a thermal suite (inclusive of a steam room, aromatherapy saunas, and an ice fountain), relaxation and meditation area, and a private spa suite; two expansive infinity pools; third-floor sunset deck; poolside treatment cabanas; a pool bar and social terrace lounge; summer kitchen pavilion with a grill area; a multi-purpose club room with chef’s kitchen for full gastronomic experiences; and a state-of-the-art fitness center with innovative MyIsle training equipment by MyEquilibria and an indoor Technogym fitness center. There will also be a library, children’s activity room, 24-hour concierge, valet and security services, and pool and beachfront concessions and attendants. Residents will additionally have direct access to 220 linear feet of beach and the adjacent, Miami Beach Walk.

For more information about 57 Ocean, availability private showings or purchasing/ leasing information please fill out the form below:

Consul of Switzerland Lists Waterfront Coral Gables Home For $2.245 Million

Ferdinand Kurt, the consul of Switzerland and former CEO of Panalpina and Kuehne & Nagel, 2 major global logistic companies, has listed his Miami home for $2.245 million. While living there, the house served as the official Swiss Consulate in Miami. The waterfront villa is spread over 4,700 SF on a 12,800 SF lot. The home features 5 bedrooms and 4.5 baths with high-ceilings, marble and wood floors, his/her walk-in closets, wine cellar and large space for outdoor entertaining. 1561 Agua Ave., Gables by the Sea, Coral Gables is currently listed for $2,245,000 with Alexandra Peters and Roman Tschannen of ONE Sotheby’s International Realty.

For more information about 1561 Agua Ave., Gables by the Sea, Coral Gables, private showings or purchasing/ leasing information please fill out the form below:

YOO Residences at Metropica To Join THIRDHOME Collection of Global Luxury Residences Invitation Only Travel Club

YOO Residences at Metropica, scheduled for completion this summer, and the first residential offering within the $1.5 billion, 65-acre master planned Metropica, will join THIRDHOME, an exclusive network of global luxury residences. When launched later in 2019, YOO Club will provide exclusive access to five-star residences, clubs and resorts around the world via a point system depending on the location and type of residence. Additional details will soon be available. The invitation-only travel club for owners of YOO homes will not only mean access to YOO properties, but to the more than 10,000 exquisite properties within the THIRDHOME portfolio throughout 94 countries, affording them unique experiences, while allowing them to share use of their own homes during down times.

The 28-story YOO Residences at Metropica features 263 chic, elegantly appointed residences , ranging in size from 740 to 1,379 SF. The building will be a part of YOO Club, a partnership between YOO, founded by John Hitchcox and Philippe Starck, and globally acclaimed THIRDHOME.

“This is an exciting opportunity for our buyers to have access to other YOO properties across the globe, as well as accessing THIRDHOME’s vast network of offerings,” says Joseph Kavana, CEO of Metropica Development, LLC. “For the owners of YOO Residences at Metropica, it is an extraordinary benefit in that they will have access to luxury vacation destinations around the world.”

“We are delighted to have YOO Residences at Metropica as an option for other YOO owners and THIRDHOME members across the globe,” says Giles Adams, president of THIRDHOME Europe. “YOO founders John Hitchcox and Philippe Starck recognized that there are a considerable number of dedicated YOO enthusiasts that would benefit from such a program and we know that THIRDHOME members will enjoy the YOO experience.”

“YOO is a brand unlike few others in the global luxury residential market,” adds Kavana. “We have collaborated with YOO on other projects and appreciate their value. Having the first residential high-rise within Metropica be a YOO offering validates the evolution of ‘urban nodes’ within what were once suburban environments, and will further establish Metropica as the definitive ‘downtown’ of Southwest Broward County.”

YOO Residences at Metropica is the first residential offering of its kind in the area. Metropica will encompass approximately four million square feet and consist of residential condominiums, apartments, boutique hotels, commercial office space, expansive green spaces and a burgeoning world-class culinary, retail, entertainment and lifestyle experience for residents and visitors to enjoy.

Lighthouse Point Estate Previously Owned By University of Miami & NFL Star Clinton Portis Hits Market

A home previously owned by the NFL star, Clinton Portis  in Lighthouse Point has hit the market for $3.995 million. The 6,000 SF, 5 bedroom, 5.5 bath estate where Portis use to reside has been completely renovated and reimagined boasting over 86’ on the direct intracoastal. The 9,600 SF lot features an array of indoor and outdoor amenities making it an entertainer’s tropical paradise complete with an expansive salt water pool and spa, outdoor summer kitchen overlooking a massive dock with a seamless boat lift. The open scale indoor layout features high ceilings offering an enormous amount of natural light and outdoor water views. The renovated Mediterranean abode now offers a top of the line kitchen, great room with double height ceilings and fireplace, wet bar, oversized guest bedroom and a media room / office.

Portis played in the NFL for 9 seasons with Washington Redskins and Denver Broncos and previously played at The University of Miami, recently inducted into the University of Miami Sports Hall of Fame in 2014. Portis bought the Lighthouse Point estate in 2006 for $4.1M and sold it in 2010.

3448 NE 31st Avenue, Lighthouse Point is currently listed for $3,995,000 with Devin Kay of Douglas Elliman.

Galium Capital Lists Stabilized Portfolio of 35+ Single-Family Homes Across South Florida For $10 Million

Galium Capital announced today the listing of a 35+ single-family home portfolio across South Florida for $10 million. The stabilized portfolio features homes which are located across several recently built communities in cities such as Doral, Homestead, Coconut Creek, Stuart, Miami and Hialeah.

The listing comes at a time when population growth in Southeast Florida has surpassed the pace of new home construction in the past 7 years. Nationwide, appetite for single family home rentals is growing faster than that of apartment rentals and South Florida’s rental market is expected to grow faster than the national average. Single family homes are the largest residential rental asset class.

The homes are of the highest-quality in their segment, built by one of the nation’s most reputable home builders. The new construction homes, finished in 2017, feature 2-floor concrete block construction as well as ready-to-move-in finishes including stainless steel appliances, granite counters, smart home technology, keypad entry and smart thermostats. The portfolio also includes community model home which include high-end finishes and homesite premiums. The community HOA’s are approved for FHA lending to home buyers and include resort style amenities.

This one-of-a-kind investment opportunity allows the bulk buyer to purchase the homes at 7.5% below retail value and 33% below replacement cost. The portfolio also boasts a high tenant profile with an outstanding performance record of 90% + occupancy. The strong occupancy is a result of the high demand in single-family rentals in South Florida. The current owner has a strict acceptance criteria including credit score, background check and collection standards. The highly liquid product gives the owner the opportunity to obtain value through rental yield or capitalizing on the gap between acquisition price and today’s retail market value.  

For more information, please contact Galium Capital at 305-433-2008 or www.galiumcapital.com.

About Galium Capital:

Aventura-based Galium Capital owns more than $300 million in commercial assets across the United States with asset management and property management performed in-house. Galium Capital invests in multifamily residential, retail, hotels and office space. Galium Capital is led by Jacques Bessoudo and Iser Rabinovitz.

Third Penthouse Goes Under Contract At The Ritz-Carlton Residences, Sunny Isles Beach For $19.75 Million

The third penthouse at The Ritz-Carlton Residences, Sunny Isles Beach, which is slated to be completed at the end of this summer/beginning of fall, is now under contract for $19,750,000. The price equates to nearly $2,600 SF at the unfinished residence (PH49/#4903), which is one of four penthouse units in the 52-story building being developed by Fortune International Group and Chateau Group. The penthouse is the third to go under contract since sales launched in January 2015, totaling more than $56 million of penthouse sales. At nearly 7,700 SF, PH49 features five bedrooms and seven and a half baths, as well as a garden terrace with a private pool and summer kitchen.

Luxury sales have been strong in Sunny Isles Beach through the start of 2019 including the $18.5 million sale of a penthouse at Jade Signature which closed Jan. 25 for $2,015 per square foot. The buyers of both the Ritz Carlton Residences, Sunny Isles Beach and Jade Signature penthouse transactions are undisclosed.

Check Out This Frank Lloyd Wright Inspired Waterfront Home In Fort Lauderdale Asking $5 Million

A luxurious waterfront property inspired by the iconic Frank Lloyd Wright has hit the market in Fort Lauderdale for $5 million. The home features a 1,500 SF master suite with an expansive waterfront balcony. Additionally the The 5 bedroom, 5.5 bathroom home offers an indoor gym, office, a dining room and living room with ocean views, chef’s kitchen and wine room with tasting table. Outside features an outdoor entertaining area with an array of amenities to host the ultimate sunset soirée with a fully equipped summer kitchen, fire pit, Cabana bath with cedar sauna and steam shower, elevated infinity spa overlooking the waterfront and expansive pool. The state-of-the-art concrete dock can host any overnight guests comfortably with electric and water capabilities for an boat or yacht.

2417 Aqua Vista Blvd, Fort Lauderdale is currently listed for $5,000,000 with Stefano Fontana of Douglas Elliman.

PHOTO CREDIT: Douglas Elliman Real Estate

Step Inside The Ultra-Luxe Beachfront Estate 1071 North Ocean Boulevard In Palm Beach

There are few locations at lavish as Palm Beach and few homes as magnificent as a Palm Beach estate with direct oceanfront views from every room. 1071 North Ocean Boulevard built by Hugh Davis in a French Normandy style spread over 5 bedrooms, 7 full bathrooms and 9 half-baths complete with 2 fully appointed guest apartments and 8 car garage. The 35,000 SF home features views from almost every room including a library, home theater, wine room, fitness center, barber shop, dining room with ocean views, kitchen with ocean views and a wood paneled pub room. Outside the breathtaking backyard offers an outdoor loggia, summer kitchen, infinity pool and spa overlooking the tranquil beaches of the North End, Palm Beach.

1071 N Ocean Boulevard, Palm Beach is currently listed for $59,900,000 with Ashley McIntosh, Gary Pohrer and Vince Spadea of Douglas Elliman.

Coral Rock Development Group & Arena Capital Holdings Break Ground On Pura Vida Hialeah

Miami-based Coral Rock Development Group and Arena Capital Holdings have broken ground on Pura Vida Hialeah, a nine-acre mixed-use project set to be the first of its kind in Hialeah in more than 20 years. When complete, the project will transform the area’s aging retail and residential offerings with the first new sleek contemporary designed vertical towers, and will boast a vibrant mix of popular restaurants, shops and other conveniences while providing an exceptional pedestrian-friendly lifestyle, adding a much-needed benefit to the densely populated community.

Held on April 25th at the future site of Pura Vida Hialeah, the ceremonial groundbreaking was hosted by the project’s development team, comprised of industry veterans Stephen A. Blumenthal, David Brown, Victor Brown and Michael Wohl of Coral Rock Development Group, as well as Oscar Rodriguez, Ana Rodriguez and Sebastian Roiter of Arena Capital Holdings. Dozens of industry leaders, project partners, top city officials and numerous other dignitaries were in attendance including City of Hialeah Mayor Carlos Hernandez, Hialeah City Council President Vivian Casals-Munoz and City of Hialeah Councilman Paul Hernandez, who all provided remarks to celebrate this project milestone.

Mayor Carlos Hernandez commended the developers for their vision and acknowledged how Pura Vida Hialeah is already sparking other innovative developments in the city. Known as the City of Progress, Mayor Carlos Hernandez said “Hialeah is the new Brooklyn.”

“We’re incredibly proud to officially break ground on Pura Vida Hialeah,” said Stephen Blumenthal, principal of Coral Rock Development Group. “A new paradigm for living in Hialeah, we’re extremely pleased that Pura Vida Hialeah will be a positive catalyst and usher in a new era in the community.”

“This is an exciting beginning to what will soon be an extraordinary and vibrant urban environment for Hialeah,” said Michael Wohl, principal of Coral Rock Development Group. “We’re very grateful to Mayor Carlos Hernandez and the City of Hialeah who have supported us in making this community-driven development a reality.”

Located at 2901-3099 W 16th Avenue and 1571 W 29th Street, Pura Vida Hialeah will feature 3-eight-story residential towers consisting of 260 apartment units, with one tower offering approximately 11,000 SF of ground floor retail; as well as three separate outparcels consisting of approximately 40,000 SF of commercial retail space. Floorplans for market rate residential apartments range from 538 SF to 1,099 SF, ranging from studios, one, two, and three-bedroom units. Featured amenities will include a resort-style pool, state-of-the-art gym, BBQ area, dog park, and 24-hour security staff for the convenience of residents. Confirmed retail tenants include a Wawa convenience store and gas station, representing one of the first outposts in Miami-Dade County for the rapidly expanding chain, a Taco Bell restaurant, a Dollar Tree store and a two-story YouFit Health Club.

Douglas Elliman Releases Q1 2019 Market Reports For South Florida

Douglas Elliman released their Q1 2019 Market Reports in South Florida.The South Florida Market reports showed price trends generally edging higher, although sales slipped and inventory slightly increased this quarter. The markets included Miami Beach and Barrier Islands,Fort Lauderdale , Boca Raton, Highland Beach, Delray Beach, Wellington, Palm Beach, Jupiter, and Palm Beach Gardens.

Miami Beach/Barrier Islands

Overview:

• Overall price trend indicators increased than year ago levels

• Marketing time jumped as older inventory was sold

• Condo median sales price remained unchanged

• All single family price trend indicators increased as sales decreased

• Luxury condo inventory slipped

• Luxury single family price trend indicators surged

Key Trend Metrics(Year to Year):

Overall:

• Median sales price rose 2.3% to $440,000

• Average sales price increased 11.6% to $1,129,317

• Number of sales slipped 2% to 772

• Days on market was 145, up from 80

• Listing discount was 10.6%, up from 10.4%

• Listing inventory slipped 0.3% to 6,726

Luxury Condo:

• Median sales price rose 12.7% to $3,225,000

• Average price per square foot decreased 11% to $1,299

• Days on market was 70, down from 72

• Listing discount was 12.7%, up from 11.5%

• Listing inventory declined 6.6% to 1,006 units

• Entry threshold began at $1,864,000, up from 1,750,000

Luxury Single Family:

• Median sales price surged 61% to $10,100,000

• Average price per square foot rose 2.6% to $1,524

• Days on market was 352 up from 141

• Listing discount was 12.1%, down from 17.9%

• Listing inventory fell 38.5% to 152 units

• Entry threshold began at $7,250,000, up 70.6%

Miami Coastal Mainland

Overview:

• Median sales price rose year over year for the eighteenth consecutive quarter

• Sales declined annually for the first time in three quarters

• Listing inventory trended higher for the fourth straight quarter

• Luxury condo listing inventory declined annually for the fourth consecutive quarter

• Luxury condo price trend indicators were mixed year over year as marketing time expanded

• Luxury single family price trend indicators slipped as marketing time expanded

Key Trend Metrics(Year to Year):

Overall:

• Median sales price increased 0.6% to $320,000

• Average sales price slipped 2.2% to $425,740

• Number of sales declined 7.5% to 3,104

• Days on market was 91 up from 51

• Listing discount was 5.7%, down from 5.9%

• Listing inventory rose 6.9% to 12,247 units

Luxury Condo:

• Median sales price slipped 6.9% to $780,000

• Average price per square foot rose 4.9% to $468

• Days on market was 160 days, down from 167

• Listing discount was 7.2%, down from 7.4%

• Listing inventory declined 0.3% to 2,759

• Entry threshold began at $580,000, up 9.4%

Luxury Single Family:

• Median sales price slipped 0.5% to $1,407,500

• Average price per square foot slipped 0.9% to $439

• Days on market was 133 days up from 76

• Listing discount was 8.9%, up from 8.8%

• Listing inventory rose 14.7% to 1,223 units

• Entry threshold began at $880,000, down 4.6%

Fort Lauderdale

Overview:

• Condo price trend indicators slid year over year with decline in average sales size

• Condo sales declined annually for the first time in five quarters

• Single-family price trend indicators were mixed as inventory expanded annually for the fifth straight quarter

• Luxury condo pending sales signed in the quarter surged

• Single family luxury median and average sales price moved higher as marketing time stabilized

Key Trend Metrics(Year to Year):

Luxury Condo:

• Median sales price decreased 6.2% to $1,226,000

• Average price per square foot rose 0.5% to $619

• Days on market was 52, down 8.8%

• Listing discount was 7.6%, up from 6.7%

• Listing inventory rose 20.4% to 348 units

• Entry threshold began at $875,000 down 7.9%

Luxury Single Family:

• Median sales price rose 8% to $2,240,000

• Average price per square foot slipped 2.6% to $530

• Days on market was 163, unchanged

• Listing discount was 14.9%, up from 8.1%

• Listing inventory rose 19.6% to 396 units

• Entry threshold began at $1,365,000, down 6.5%

Boca Raton/Highland Beach

Overview:

• Condo & single family price trend indicators rose year over as sales slipped for the first time in three quarters

• Condo & single family price trend indicators saw larger growth at the higher end of the market

• Condo listing inventory fell annually for the second straight quarter

• Luxury condo price trends surged year over year partially due to jump in average sales size

Key Trend Metrics(Year to Year):

Luxury Condo:

• Median sales price jumped 48.3% to $1,175,000

• Average price per square foot rose 39.2% to $522

• Days on market was 146 days, up from 116

• Listing discount was 8.2%, up from 7.3%

• Listing inventory declined 21.4% to 313

• Entry threshold began at $665,000, up 26.7%

Luxury Single Family:

• Median sales price declined 14.9% to $1,830,000

• Average price per square foot rose 9.1% to $455

• Days on market was 136 days, up from 134

• Listing discount was 9.4%, down from 9.4%

Delray Beach

Overview:

• Single family sales slipped for the first time in six quarters as listing inventory expanded for four quarters

• Condo price trend indicators haven’t declined in thirteen straight quarters

• Luxury single family price trend indicators skewed lower by decline in average sales size

Key Trend Metrics(Year to Year)

Luxury Condo:

• Median sales price declined 26.8% to $510,000

• Days on market was 111, up from 88

• Listing discount was 5.4%, down from 6.6%

• Entry threshold began at $385,000, unchanged

Luxury Single Family:

• Median sales price declined 1.4% to $2,045,250

• Days on market was 143, up from 126

• Listing discount was 9.7%, up from 8.7%

• Entry threshold began at $1,298,000, down 1.6%

Wellington

Overview:

• Condo median sales price increased annually for the tenth straight quarter

• Condo inventory expanded year over year for the fourth consecutive quarter

• Single-family price trend indicators all rose year over year for the fourth consecutive quarter

• Single-family sales declined annually for the fourth time in the past five quarters

• Luxury condo and single-family price trend indicators surged due to significant shift to larger average sales size

Key Trend Metrics(Year to Year)

Luxury Condo:

• Median sales price surged 58.5% to $598,500

• Average square footage jumped 14.6% to 2,288

• Days on market was 154, down from 157

• Listing discount was 1.8%, down from 3.7%

• Listing inventory fell 46.8% to 33

• Entry threshold began at $415,000, up 22.1%

Luxury Single Family:

• Median sales price jumped 79.9% to $2,752,500

• Average square footage surged 42.7% to 5,717

• Days on market was 184, down from 262

• Listing discount was 14.2%, up from 9.5%

• Listing inventory declined 6.3% to 236

• Entry threshold began at $885,000 down 1.1%

Palm Beach

Overview:

• Condos sales rose annually for the fifth consecutive quarter to the second highest market share recorded

• Most first quarter condo sales in four years while inventory increase annual for the fourth time in five quarters

• Single family price trends showed mixed results as sales fell to their lowest first quarter total in seven years

• Luxury average sales size fell sharply as the luxury price threshold fell annually for the fourth straight quarter

Key Trend Metrics(Year to Year)

Luxury Condo and Single Family:

• Median sales price declined 29.2% to $7,100,000

• Average sales size dropped 25.1% to 4,915 square feet

• Average price per square foot fell 21.1% to $1,641

• Days on market was 106, down from 122

• Listing discount was 8.1%, down from 14.6%

• Listing inventory jumped 27% to 127

• Entry threshold began at $5,100,000, down 6%

Jupiter/Palm Beach Gardens

Jupiter Overview:

• Single-family median sales price moved higher for the second straight month

• Condo sales rose year over year for the third consecutive quarter

Palm Beach Gardens Overview:

• Single-family sales slipped for the third time in four quarters as all price indicators rose

• Condo median price slipped year over year for the first time in 27 quarters

Key Trend Metrics(Year to Year)

Jupiter Luxury Condo:

• Median sales price rose 7% to $305,000

• Days on market was 65, up from 46

• Listing discount was 5.3%, up from 5.1%

• Listing inventory rose 3.1% to 328

Jupiter Single Family:

• Median sales price increase 6% to $530,000

• Days on market was 71, down from 77

• Listing discount was 5.4%, up from 6.5%

• Listing inventory rose 11.1% to 481

Palm Beach Gardens Luxury Condo:

• Median sales price slipped 2.1% to $235,000

• Days on market was 71, up from 49

• Listing discount was 4.1%, down from 4.5%

Listing inventory jumped 16.9% to 277

• Palm Beach Gardens Single Family:

• Median sales price increased 8.2% to $499,500

• Days on market was 89, up from 83

• Listing discount was 6.9%, down from 7.9%

• Listing inventory rose 3% to 556

Article by Stephanie Warren