miami real estate

Edgewater: Developers Racing to the Future

Posted on by gzirealestate in Miami Real Estate News Leave a comment

North of Downtown Miami sits Edgewater, a prominent area of the Miami real estate map. Approximately from North 17th street to 37th street, Edgewater has 1st Avenue to the west and Biscayne Bay to the east. A mostly residential neighborhood, Edgewater displays many historic homes. However, since the early 2000s, the area has expanded and displayed increasing popularity, with an impressive urbanization process and establishment of new high-rise buildings. Next-door neighbor to the Design district, Wynwood, and Midtown; Edgewater is conveniently located in an evolving area of Miami real estate. Close to fashion, design, art, restaurants and retail.

The changes in the neighborhood are outstanding. Today Edgewater is a big player in real estate in Miami. On a daily basis we see young professionals walking their pets, bike riding, a variety of outdoor sports. With the Miami Trolley running for free in the area, its resident are connected to downtown and Midtown for additional retail and gastronomical options.

Edgewater Property Values On the Rise

Miami Edgewater

In just a year, the value of land in Edgewater has increased over 150%. Land that was sold just months ago for approximately 10 million, are reaching values of 30 million. These are examples of Edgewater’s impactful growth and place it as an opportunity for investment into the future. This area is a remarkable discovery of a district with much potential in the Miami market. Developers expect to build new high-rise and mid-rise buildings and will get around 600 a square foot in return.

Downtown and Brickell are almost all occupied, with little space to continue expanding. With the resurgence of condominium construction after the crash, both of these áreas are closely built out. Edgewater is the next logical step, with land available for projects that can provide spectacular views of the bay at a lower price.

It is a fantastic chance for investors ready to take part in what will become a continuation of the already ultra developed neighborhoods just south of it. Developers have been breaking up parcels and establishing up high-rise projects in this beautiful bay front neighborhood. Of course, land prices are soaring.

Developers and Investors Calling for Expansion of Edgewater

Icon Bay, a luxury condo on 28th Street is almost sold out during pre-sales, an evident clue that Edgewater is becoming a place where people want to invest and live. With impacting views of the bay, overlooking the city of Miami and Miami Beach, the area is equipped with natural beauty beyond words.

The area is assembling great prestige, in part due to the establishment of luxury retail such as Louis Vuitton and Hermes. In March, GTIS Partners, a New York-based real-estate firm, and West Palm Beach’s Eastview Development bought a 2.65-acre bay front site in Edgewater to construct a forty-two-story condominium with almost 400 units.

With prices expected to average at about $435 a square foot and units ranging from $330,000 to $1 million, Edgewater is Miami’s next sweet investment. Although not completely developed, Edgewater has something that is absolute: spectacular waterfront views that are becoming continuously scarce in south Florida. These assure the future expansion of the area.

Edgewater Views

New York Designer with a Love for Miami

edgewater park

Widely recognized from the hit TV show Queer Eye for the Straight Guy, TV personality + interior designer, Thom Felicia sees Miami as where ‘it’ is going in the territory of design. He is the design partner for a new condo in Edgewater. His design can be found in the building, as well as the future beach club, an exciting project including sand and spectacular views, opening in 2016.

Felicia’s contribution to this Edgewater development shows a clear direction: Miami continues to attract visitors, artist and investors from around the country and the world. Investing in Edgewater is investing in a future international hotspot for art and design.


Buying Real Estate in Downtown Miami

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Demand for Downtown Miami Real Estate Continues to Grow

Downtown Miami has become an outstanding choice for investment in Miami real estate. In addition to its business-oriented activities, it is now the home to beautiful residential properties, luxury condominiums, cultural events, and rapid commercial expansion. Downtown is the new ‘it’ spot for those looking to be part of a vibrant signature neighborhood. Residential, commercial and business markets continue to soar in Downtown Miami, making this neighborhood an excellent choice for secure investment. With Miami real estate analysts and experts agreeing that the expansion will continue at an incredibly accelerated rate, now is the time to venture into this astounding area. From business centered to consumer-focused, Downtown is more than ever transforming and expanding.

Shopping in Downtown Miami

Shopping Downtown Miami
The retail expansion is simply majestic. With over 100 new restaurants and shops, including delicious gourmet options, Latin-American food, and luxury fashion, Downtown Miami offers the comfort of home along with the fast pace of an urban, trendy, and metropolitan American city. From a new 12-screen movie theatre, to spas, aesthetic centers, and luxury clothing, residents live in Downtown having everything at one’s fingertips. Supermarkets such as Publix and Whole Foods, as well as Mary Brickell Village, a first-class shopping center, have established this neighborhood as an iconic scene in Miami real estate.

Downtown Miami Accomodates Tourists with New Luxury Hotels

Hotels in Downtown Miami
The residential development of Downtown Miami is striking. The current 24,000 condominium units have occupancy of 95%, a figure that has soared in just three years. Moreover, Brikell Citicenter, a one billion dollar commercial investment, is revolutionizing the area with new attractions, both gastronomical and commercial. Hoteliers have not stayed left behind. Over twelve brand new hotels have opened in Downtown Miami since 2000, a key element of the enlarging Miami real estate market. Today there are over 7,000 first-rate hotel rooms in Downtown, making Miami the city with the highest concentration of luxury hotels in the region.

Culture and Arts in Downtown Miami

Basketball in Miami

In addition to the striking Adrienne Arsht Center for the Performing Arts (with the jaw-dropping Ziff Ballet Opera House and the Knight Concert Hall) today this neighborhood boasts of diverse cultural activities, shows, and events at venues such as the Olympia Theatre and the Guzman Center. Centrally located on Biscayne Boulevard, the American Airlines Arena provides this unique neighborhood with national and international sports and music events of the finest caliber. Heat fans, this is the place where you want to be.Downtown Miami is the most active host in the region, having the honor to be home for the Miami Film Festival, Miami International Book Fair, and the ING Marathon, all of which call attention of international visitors and make Miami a truly diverse destination.

Downtown Miami Arts

Downtown Miami Arts

Young Professionals seek an urban lifestyle in Downtown Miami

Downtown Condos
Downtown Miami Real Estate

All of these developments and transformations have made Downtown Miami a captivating and energetic destination. With the median income at $70.000, the neighborhood is an attractive buy. Population has gone up 93% since 2000, today with 72,000 residents. Over half of these are under forty years old, a truly youthful and fresh community. Today Downtown is a place to call home, not only for office dwellers, but also for a new type of Miamian: the downtowner.Young professionals are renting and buying in the area, seduced by Downtown Miami’s active yet relaxed style. Living in Downtown Miami provides first class connections, stunning infrastructure, and grand lifestyle. With easy access on foot or by bike, and new services such as Pedi-cab, Car-2-Go, and other car sharing systems, Downtown allows an urban lifestyle for ambitious yet laid back professionals.

Your Home in Downtown Miami

 

Close to South Beach, Key Biscayne, Coral Gables and Brickell; Downtown Miami is truly in the heart of prime Miami real estate. More than a vacation spot, Downtown is a place to invest and live submerged in vibrant retail and dining offers, enjoying the beautiful Miami sun, and connected to transportation systems and a blossoming youthful community.

 


Sunny Isles Beach: Miami’s Serene Paradise

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As a growing resort area, Sunny Isles Beach is a great investment opportunity for those ready to take action. With easy access from both Miami International as well as Fort Lauderdale- Hollywood Airport, Sunny Isles Beach is convenient for national and international visitors. In addition, Aventura Mall and Bal Harbour Mall are both minutes away.

In spite of its small geographic extension, Sunny Isles Beach. International cuisine and diverse developments assure that Sunny Isles Beach has something for the family, the young professional, or the relaxed vacationer.

Demand for Sunny Isles Beach Real Estate

In the past years, a significant number of luxury high-rises have emerged in Sunny Isles Beach, accompanied by ever-growing price tags. Sunny Isles’ central location, just steps from both Bal Harbor and Aventura, combines an exciting active community with the tranquility of paradise. Those looking to invest in Miami Real Estate may find that this mix assures more spacious units than those found on South Beach and more peace of mind.

In the late 1990s, the old undesirable architecture began to be converted into luxury residencies, condos, and resorts. Over ten years later, this Sunny Isles expansion continues with thriving investment in retail, restaurants, and other services. In addition, a new wave of investors are betting on more sophisticated luxury hotels. This remarkable Miami Real Estate shift has lured buyers into taking action. From the 6,500 units available in 2008, merely 400 are still available today.
sunny iles beach

Foreign Investors in Sunny Isles Beach

Sunny Isles Beach is truly a globalized community. In addition to the established Latin-American and Russian and Jewish population; a growing Canadian and European visitors and permanent residents are defining a new demographic tendency. The dining menu reflects this growth. Enjoy typical Italian options, extravagant Brazilian steakhouses, or jump into traditional all American food.

Miami Real Estate is characterized for offering a range of services, styles, and price tags. Sunny Isles is no exception. With options such as $55 million penthouses, $8 million condos, or more accessible units, Sunny Isles Beach offers solutions to various kinds of buyers. It appeals to both those seeking a luxurious getaway, as well a those more interested in family friendly vacations. All interested in taking part of the flourishing nature of Miami Real Estate, Pre-Construction developments are an opportunity of investment.

Parque Towers: Sophisticated Miami Real Estate

Sunny Iles Rooftop Luxury Pool

Parque Towers Luxury Rooftop Pool

Parque Towers two boutique luxury towers will stand in Sunny Isles Blvd. Built by J.Milton and Associates, this Miami real estate project includes 160 units (two and three bedrooms) from 1800 to 2400 square feet.

Parque Towers offers state of the art amenities and services. Its Sunny Isles resident will enjoy from on site bars and restaurants, private rooftop pools, kids pool, private movie theater, high-end fitness center, and a spectacular beach club with first rate services. All units will include sophisticated bathrooms and kitchens with high gloss lacquer cabinetry and modern finishes, all must haves in high-end real estate in Miami.

Chateau Beach: Sunny Isles Pre-construction suited for perfection

Chateau Beach Amenites

Chateau Beach Sunny Isles Pool

Located directly on Sunny Isles pristine oceanfront stands Chateau Beach, 83 spectacular residencies that suggest first-class comfort and leisure. Breath taking balconies with jaw-dropping views (assured to last forever due to its surrounded protected park land) are some of the best in Miami Real Estate.
These dramatic modern units boast their high-end design and architecture typical of Sunny Isles. Savor the luxury of Miami Real Estate: your own private elevator, italian cabinetry, gourmet kitchens with gourmet-chef quality appliances and finishes, and en-suite baths. Miami real estate at its finest. Take the afternoon off to immerse yourself in the high-end amenities such as signature spa, relaxation terrace, fitness center overlooking the ocean, kids club, and others. Investing in Chateau Beach is investing in Miami Real Estate exclusive services.

400 Sunny Isles: Beach Resort, Marina or just Home

GZI Real Estate

400 Sunny Isles Kitchen

Wake up each morning to the breath taking ocean front views that Sunny Isles Beach offers; sun-drenched spaces. Each of the 230 units at 400 Sunny Isles will be crafted with luxurious finishes and sophisticated elegance. Miami real estate developers truly made the modern home in this pre-construction; presenting eco-friendly features and smart touch technology. 400 Sunny Isles is designed by internationally renowned architect, Chad Oppenheim, include the finest European bath and kitchen fixtures for those seeking to relax and enjoy life.

400 Sunny Isles outdoor lifestyle might is unbeatable. With impressive resort style amenities, 400 Sunny Isles promises its residents lasting memories of active living. Take a daily walk by the private residential marina and boat dock, learn a new water sport, take some time to meditate at the underground Zen gardens, or just lay by the infinity pool. Living at 400 Sunny Isles is just what you deserve. This is Miami Real Estate at its finest.

Sunny Isles Pre-Constructions: the best Miami Real Estate Investment

Investing in Miami Real Estate is a chance to grow. According to forecasts, over the next two years, the population of Sunny Isles will hike up by 71%. Due the population boom, an increasing demand for Sunny Isles real estate will follow. Due to its expanding population and growing real estate investment, as well as rising prices in just a few years, the time to invest in Sunny Isles Beach is today.


Why Invest in Brickell Real Estate?

Posted on by gzirealestate in Miami Communities, Miami Real Estate News 1 Comment

Living In Brickell

Brickell is home to the Financial District in Miami, boasting the most international banks than any other city in the United States. Given Brickell’s relation to South America with the Port of Miami many Wallstreet Firms have moved their offices to Brickell to expand their markets into South America. Given the international investment Brickell has boomed in the last ten years. Brickell’s population increased 44% between 2000-2010 according to the US Census, with an average income 38% higher than citywide Miami. This has increased the property values as well as the cost in rent. In addition, most of the the professionals working in Brickell are 20-44. This has led to creating a high-end nightlife in Brickell. Brickell’s nightlife has become exclusive in Miami with hotspots like Segafredo and Blue Martini.

With a population of 71,600 in Downtown Miami and the 200,000 work-day population, Brickell has attracted many restaurants and retailers.

Restaurants in Brickell

Brickell Restaurant industry is up to par with Miami Beach, bringing in 8-10 million a year for high end restaurants. In 2012 we saw Brickell’s fine dining industry grow with the openings of Toscana Divino, PM Miami, Mint Leaf Indian Brasserie, and Doraku Sushi. If you are a fan of Japanese Sake then I suggest you try Doraku Sushi’s expansive Sake options along with house Sakes and quaffing flavored Sakes -the apple sake is my personal favorite.

Looking into the future, Brickell’s restaurant industry means business with China Grill, Meat Market, and Cipriani opening later this year. Meat Market has become a toothsome steakhouse in Lincoln Road attracting steak connoisseurs.

Buying in Brickell today would be a great investment, whether you are looking to live, vacation or rent out. In addition, Brickell has built an economic foundation gathered from many different markets.

In addition, Brickell restaurants have developed a relationship with locals with their weekly specials. My personal favorites are Happy Hour at Piolas and $10 Pasta Thursdays at Perricones. Brickell’s hospitality industry saw the demand by locals for a place to eat, drink, relax, and maybe even shop. Thus, in 2006 was the opening of Mary Brickell Village.

Demand for Brickell Real Estate Continues to Rise

Brickell’s Financial District is comprised by young professionals who have lived in New York or abroad; thus, many prefer the city life where you can easily walk anywhere. With a supermarket close by, Publix, and a gym, LA Fitness. These young professionals rather use public transportation, which Brickell offers with Downtown Miami’s metromover or the trolleys. Both of which are free services.
In addition Downtown Miami has seen an average increase of 2,600 residents per year according to the 2010 Census. This has resulted in all 62 Condos built since 2005 in Downtown Miami and Brickell to be 96% sold-out. Only 794 units remain as current inventory from the last eight years. That may seem like a lot of empty condos, but with the 2,600 residents moving in early in Downtown Miami the real estate prices will continue to climb. In addition, total inventory since 2005 is 17,502. That means that there is only 4.5% remaining inventory as of now. The average listing price right now (June 2013) has increased 27% since December 2012. In addition retail prices are also climbing in Brickell as available inventory of homes continues to shrink.

If you want to sell in Brickell now is the time, with Pre Construction not yet Move-In Ready, and the current price-per-square foot at $428. That is a 21% price increase per square foor in the last 12 months. In 2011 the average DOM for Brickell and Downtown Miami Real Estate was 180 days, today it is averaging 35 days.


Miami Real Estate Prices Continue to Rise as Demand Surpasses Supply

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High Demand for Miami Real Estate

Miami’s Real Estate has always been an exclusive investment, due to our beautiful beaches and sunny weather. Over the last year Miami’s Real Estate market has rebounded as demand for Miami properties has risen. Local Properties are being sold quickly due to the scarcity of properties available. The scarcity of supply has led to an increase of Real Estate prices over the last year.
According to MLS and Miami Association of Realtors, single family homes and condos have been increasing over the last 16 months. For instance, the median price for single family homes rose 25.1% to $225,000 compared to last year, with a 16% price increase in March alone. This has been the biggest price increase of single family homes since the boom of 2005.
Due to the high demand of Real Estate, we have seen an increase in Property Values. With the recent increase in your property value, now is an ideal time to sell. According to MLS 40.85% of homes sold within 30 days from January 1st to May 31 of 2013, with a median of 45 days in the market.

Rising Property Values in Miami-Dade County

Due to the high demand for Miami Real Estate the median asking prices for single family homes in March was $225,000, that is a 25.1% increased compared to last year, and a 16% increase compared to the month of February.
The median listing prices for Condos has been increasing steadily for the last 21 months. In march the median price for a Condo was $167,000; that is a 19.3 increase from last year, and a 1.2% increase from February.
In addition due to high demand homes sold within 30 days are sold at 98% of asking price, or 96% if sold within 90 days.

Strong Sales Continue in Miami

In 2013 we have seen an increase in property sales in Miami. Residential Sales in Miami-Dade County increased 2.7% in march, compared to record sales of last year. Single Family Residential sales in Miami-Dade increased 6.1% from 963 to 1022 homes. Condo sales increased 0.5% from 1451 to 1458.

Good time to Sell

The number of houses in the market at the end of March decreased 5% from 13760 to 13607 compared to March 2012, when there was already a scarcity of homes in the market. The inventory of single family homes decreased 9.7% whereas the inventory of Condos decreased 1.7%. At this rate there is a supply of 5.1 months for family homes and 5.9 months for condos in Miami-Dade. This present increases 19.1 and 6.6% respectively, compared to last year.

Decrease in ROE and Foreclose Sales

We are seeing an increase of prices in ROE and foreclosed homes, thus the demand for them is falling. In March 41% of closed sales were ROE, short sales and foreclosures, this is a decreased of last year in which closed sales for march were 49%.
Median prices of Condos and Residential Homes in mortgage rose 10.1% 144,000 and 23.6% to 105,000 respectively.