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Miami Beach Investments and Frequently Asked Questions
Feb 22, 2011

Beach Property

Miami Beach (Investment):

·         Investments in Miami Beach continue to soar. With first time home buyers purchasing single family residential property in the first quarter in the price ranges of $100,000-$175,000 and domestic/foreign nationals purchasing any and all properties in downtown Miami Beach; it’s a buyer’s market. In South Florida, the majority of first time home buyers continue to prove that the market is still solid. There are numerous buildings such as the Regatta on 67th and Collins Avenue, Decoplage on Lincoln Road, West Avenue’s famous Flamingo South Beach. These units are prime sellers for the fact that they are easy to rent, either on the beach or within walking distance to the beach. Miami Beach has continued to service not only to foreign nationals but for domestic consumers. Typically, Miami Beach is known for low maintenance fees, considering that most of the condos are on the beach. Typical one bedroom units in Miami Beach are 820 square feet to 1035 square. More than 1000 square feet is considered by far, a large layout. Usually most of the 1 bedroom units larger than 920 square feet, come equipped with an additional half a bath. There are also studios that can range anywhere from 320 square feet to 650 square feet.

o   What a better investment, a studio or a 1 bedroom?

o   What is a junior suite?

o   What are the last 6 properties that have been sold in the Fontainebleau?

 

·         As I was speaking to a client from abroad, Italy, “I cannot believe that the three properties that we saw two days ago, two of them are under contract.” As I advised him, these are the comparable, dollar per square foot and the past sales and pending sales in the building, in the previous six months. Miami Beach is a beautiful seventy-block long, direct ocean, city and bay views. The properties which are being placed on the market, taken off as pending sales and then sold within a few weeks are the properties which numbers work. When the phrase “numbers work” is used, this means that all factors that are taken into affect: taxes, Mortgage (if applicable), insurance and maintenance fees (if applicable). Now, do the numbers work? Due diligence is taken into account, now, with all numbers being punched.

o   What equations do you recommend when quantifying the overall costs?

o   What equations do you recommend when verifying if the purchase of a property is a healthy investment?

Miami Beach:

·         Blue and Green Diamonds in Miami Beach, is a great building that has kept its value per square foot throughout the economical and market changes. Built in

o   What is a perk of living in the Blue and Green Diamonds?

o   What is the average price per square foot in the Blue and Green Diamonds?

o   What is the difference between the Blue and Green Diamonds?

o   What are the last 6 properties that have been sold in Blue and Green Diamonds?

Brickell:

·         Icon has been developed time and time again. There is Icon Brickell, developed by Jorge Perez of the Related Group as well as Icon in Miami Beach in South Beach’s exclusive south of fifth. South of Fifth Street, typically know as “South of Fifth” is an exclusive strip of Miami Beach, the most southern tip of Miami Beach’s south beach.  South of Fifth in Miami Beach is considered to be a historic community, housing the famous Miami Beach Marina, Smith and Wolensky, Joe’s Stone Crab, South Pointe Drive, Nikki Beach, Prime 112, the Apogee (largest, most exclusive and luxurious condo in Miami Beach)

o   What are the last 6 properties that have been sold in Brickell Axis?

o   What are the last 6 properties that have been sold in Asia?

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