Mark Zilbert’s Blog

As summer is well under way in South Beach, we’ve seen a rather quiet July.  For those of us who live here full-time, it’s a welcome relief from busier months.  But, we expect August to pick up a little bit, which includes an expected surge of buyers looking for properties that will ultimately be used this coming winter season.

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PENTHOUSES ARE THE TITANS IN THIS MARKET - While some of the Miami real estate marketplace is seeing slower-than-expected growth, the penthouses around town seem to show no signs of slowing down.  South Beach’s ultra-luxury APOGEE condo has two recent closed sales, pushing record-high prices in the area.  The 01 penthouse sold for $16.5M, while the 04 penthouse sold for $15M.  And guess what?  The interiors are raw (concrete floors, unpainted walls, etc).  A penthouse at the FONTAINEBLEAU II sold for $12.5M in April.

The best penthouse in South Beach, in my opinion, is found at The CONTINUUM.  And, it’s for sale at a modest $19.8M.  You get over 13,000sf (1200m²) of indoor and outdoor space.  Visit my Continuum page to see a tour!

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SOUTH BEACH’S 3-BEDROOM DREAM HOMES - AT MURANO AND MURANO GRANDE - When architect SIEGER-SUAREZ designed South Beach’s Murano and Murano Grande condos, the firm introduced a very-unique kind of “home-in-the-sky”.  The B-type model apartment, in either building, is designed like a standalone home, but in a condo setting.  Each apartment is accessed via a private and secure elevator system.  The apartments are actually slices of the entire width of the building, so you have balconies and openings from North to South, or East to West, depending on the apartment.  I’m proud to say that my own home at Murano Grande, is just one such type apartment.  It’s an amazing type of home.

I have two great apartments to offer buyers.  You must come and see both of these, as they are worth the visit.  And, both are priced to sell!  You can click on either link below to see photos and tours of these apartments.

MURANO AT PORTOFINO - Unit 1502 - 3 beds/3.5 baths - $2.495M

MURANO GRANDE - Unit 803 - 3 beds/3.5 baths - $2.1M

We can show these apartment any day, any time.  Just let me know if you would like to set up an appointment.

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SOUTH BEACH SALES STATISTICS - MAY 2008 TO PRESENT - Here are some sales statistics from the South Beach luxury market in the past 75 days or so. 

• The top-5 selling properties in this period were all at APOGEE.  Selling prices ranged from $7.3M for a 20th floor unit to $3.4M for a low-floor unit.

• ICON SOUTH BEACH was the most-popular condo with 11 unit closed sales.  THE FLORIDIAN and YACHT CLUB were tied for second place, each with 8 unit sales.  MURANO GRANDE and RONEY PALACE tied for third place, each with 6 unit sales.  Keep in mind that this was only a 75-day period.

• There are currently 437 units for sale between $500K and $999K

• There are currently 199 units for sale between $1M and $2M

• There are currently 105 units for sale between $2M and $5M

• And, there are currently 43 units for sale over $5M

CONTINUUM II is seeing a slow start, since its opening a few months ago.  We’ve recorded 9 closed sales and one pending sale since the building opened.  There are some very good deals at Continuum II, if you don’t mind a partial ocean view.  Direct ocean units still are listed at premium prices.

SOURCE:  Southeast Florida MLS System 

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WHAT’S IT TAKE TO SELL IN TODAY’S MARKET - If you own a condo, and are having trouble selling it, don’t always feel that the market is to blame.  My team and I have sold many, if not most, of the properties that our clients have hired us to sell.  I am happy to help you decide how, when and for how much your condo can sell.  And, I will do this for free!  All you need to do is ask.

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WE NEED REALTORS TO JOIN OUR TEAM - Our company and its 20 realtors are seeing a lot of success this year.  In fact, we need more people to help us service our customers.  If you are a REALTOR or know of a good REALTOR, and would like to learn more about joining the ZILBERT team, please let me know.  I will tell you, though, my standards are very high, so only the best need apply.  For top producers, my compensation package is the best in the business.  So, let me know if you know of anyone, or even yourself.