Lincoln Road the Next Fifth Avenue?A retail building at 635-639 Lincoln Road has traded for $34.8 million, this is. $6,527 per square feet. The building was built in 1935 and currently has two tenants in the 5,332 square feet premises.The Seller is Camelot of Miami, LLC, the buyer is a Canadian investment firm.If you do the math, at a 5% CAP rate, NNN rent should be around $330 per square feet, in other words the concept for these premises should sell at least $4,000 per square feet to be profitable.As a reference Apple stores sell $6,000 per square feet and Tiffany & Co $3,000 per square feet.Lincoln Road escalating prices place it in one of the most expensive sites in the US.  01/30/2016

The Faena House Penthouse The Faena House penthouse and unit directly below it that sold for a Miami record $60 million in September to Citadel CEO Kenneth Griffin is back on the market for a staggering sum of $73 million.The units are being listing separately, with the five-bedroom, 8,270-square-foot penthouse for $55 million and the three-bedroom, 4,240-square-foot unit below for $18 million. The penthouse is on the top floor, with a 2,700-square-foot roof deck, pool, and wraparound terrace totaling 7,300 square feet. The second residence is just below, where it shares the 15th floor with another condo. 01/30/2016

When purchasing a Miami Beach condo, there is a lot you need to know. Typically buyers put down an earnest money deposit once a contract is executed. In our area, it is customary for buyers to place 5 to 10% of the purchase price. It can be more on preconstruction properties, or it can be less in some other situations. All in all, deposits often consist of thousands of dollars. For most people a lot of money and money they wouldn’t want to lose.So, how can you protect your deposit when purchasing a Miami Beach Condo? Don’t default on the contract. There are very specific timelines and due dates for many different tasks within the contract (inspections, application to the lender, time to review the condo docs, commitment letters from your lender, etc.).  **These are NOT flexible dates. H... 01/28/2016

When selling your Miami Beach home, pricing correctly is crucial. If you are not on top of what’s going on, you could risk chasing the market and NOT getting top dollar. Pricing properly starts from looking at the market in depth and pricing the property against properties that are currently listed, what’s under contract and what recently sold.Watch our video and learn how to price correctly from the beginning.Selling Your Miami Beach Home Tips for Pricing:1.  Look at what’s on the market, under contract and recently sold.2.  Don’t just base pricing on “what’s listed”. Some properties are listed “too high”, also, check out the days on the market. If it’s an active listing and listed for more than six months, this could be a sign that the property is priced too high.3.  Recently sold com... 01/27/2016

OK, talk about a fun tropical oasis. This new spec home on Miami Beach includes a 40 foot water slide.If this fun-house on oh so chic Pinetree Drive appeals to you be prepared to drop around $30 million for it.When we play in Miami Beach we play big.  All photos via Brodson Construction 01/25/2016

Late last week I posted about the couple that bought 5860 N. Bay Rd. with plans to raze the estate previously owned by cartel drug lord Pablo Escobar. Well it is done and here are a couple of photos of the demolition.That is all that's left of the front entrance to the waterfront estate.Can't wait to see what will replace it. 01/19/2016

Ringing and Singing with Wendy Cohen Miami Metro and Sunny Isles Beach IMHO -- the big benefit of the RINGING and SINGING Challenge sponsored by "the real" Debbie Reynolds is learning about great new members on ActiveRain. Spending time with Wendy Cohen this evening was delightful. She filled our conversation with positive energy and demonstrated a high level of professional experience throughout the time we spent together.  Having lived in Mexico City for many years, Wendy is completely bi-lingual in English and Spanish. She stated that having Spanish as a second language has been a great benefit in her market area. The Cohen Team serves Sunny Isles Beach where she lives and also the areas of Downtown Miami, Miami Beach, South Beach, Morningside, Brikell and Aventura.    Wendy works in... 01/18/2016

When it comes to buying Miami Beach real estate, many first-time buyers often want to start by seeing as many properties as possible immediately.  While this is the most fun part of buying a property, it’s not necessarily the best first step to a successful transaction.The best way to start off the buying process is to first speak to an experienced agent and get a good idea about the type of property you can buy as well as the neighborhood that will best fit your criteria and budget. Also, if you need financing, you need to speak to a qualified local lender in advance to looking a property. Once you have these two initial projects completed, the next step is previewing property.First Time Buyer Tips for Buying Miami Beach Real Estate1.  Hire an experienced buyer’s agent.It is customary ... 01/18/2016

 January 16, 2016 Miami Beach FL 78F Glorious sunshine  Yes this is a chamber of commerce day in south Florida, yes that is me in my yellow board shorts and yes Barbara Todaro eat your heart out baby! This is what it's all about living in subtropic area. Feel free to contact me to help you formulate your winter escape plan! 01/16/2016

  Pablo Escobar's former Miami Beach mansion will be leveled next week after its current owner did an exhaustive high-tech search targeting cash, drugs, and even human remains. The demolition will be documented for an upcoming television documentary. Chicken Kitchen CEO Christian de Berdouare and wife former tv reporter Jennifer Valoppi at 5860 North Bay Road in May 2014 for $9.65 million. Sitting on Biscayne Bay nearby the La Gorce Golf Course, the four-bedroom, six-bathroom home was Escobars before getting seized by U.S. authorities in 1987. Besides being owned by arguably the most infamous drug lord on the planet, the home has another unique feature: massive holes punched through the walls, alluding to a previous search. The tale is Escobar, who had an estimated  $30 billion net wort... 01/15/2016

  This spectacular home @85 Palm Island in Miami Beach has just been reduced by $1 million to its current ask of $13.9 million. It has eight bedrooms, eight full bathrooms and two half-baths, panning 9,700 square feet. The three structures are adjoined by loggias, with balanese styled architecture and pool all on the waters edge. I like this home more than like, I wish I had won the powerball because I would be moving in soon!    01/15/2016

Roney Palace is one of those Miami Beach luxury condos that doesn’t have to be in your face all the time to be successful. Maybe that’s because it’s been around since 1926. Considering Miami Beach was incorporated in 1915, it’s safe to say that Roney Palace is part of the city’s backbone. (It’s not “old” either though; the building got a total makeover in 2000.)Perhaps because the building isn’t constantly in the limelight is why it has several beautiful penthouses for sale all below $2.5 million. Another good reason is because they’re small: The biggest penthouse unit for sale right now is only 1,230 square feet, and the largest unit for sale isn’t even a penthouse. It’s on the eighth floor.Even so, these condos are beautiful. Many have marble floors, and they all have a view of the oc... 01/11/2016

5255 Collins Avenue #6B, Miami Beach, Florida 33140 is located in Miami Beach’s oceanfront famous Millionaire’s Row neighborhood. It is a huge one bedroom 1560 sq ft condo with the views of the ocean & southeast exposure. The unit features built-ins throughout, updated bathrooms, gourmet kitchen with granite countertops, wine cooler, pantry and lots of storage. The floor plan is large enough for a second bedroom or den. (The owner has the plans and costs to include a second bedroom). The building amenities include a restaurant, heated swimming pool, updated hallways, gym, 24-hour security, and valet service. Maintenance includes electricity, cable, internet service and all building services.5255 Collins Avenue #6B, Miami Beach, Florida 33140Price: $449,900Address: 5255 Collins Avenue #6... 01/09/2016

1614 West Avenue #602, Miami Beach, Florida 33139 is a penthouse unit located in West Avenue’s hottest neighborhood one block to Lincoln Road.The unit comes features renovated bathroom, large closets, hurricane shutters and parking. Also, the building has a pool, laundry on site and it’s pet-friendly.  Walk to everything in the South Beach, super clean, balcony overlooking pool. Low Maintenance. Easy to show! This is a great property.1614 West Avenue #602, Miami Beach, Florida 33139Price: $247,900Address: 1614 west Avenue # 602, Miami Beach, Florida 33139Beds: 1Baths: 1Living Area: 667 Square feet Miami Beach real estate is very desirable. Whether you are buying property as your primary home, an investment, or a vacation property, there is something for every buyer in this city. Lincoln... 01/08/2016

   Continuum unit 3502 and Myles Chefetz Myles Chefetz, the celebrity restaurateur behind such South-of-Fifth hotspots as Prime 112 and Prime Italian, has purchased a condo at the Continuum in Miami Beach for $7.9 million.The move comes one month after Chefetz signed a contract for a $3 million townhouse at the yet-to-be-built Three Hundred Collins, as he boosts his investments in the hot South-of-Fifth neighborhood.Chefetz bought unit 3502 with three bedrooms, three baths and one-half-bath in the Continuum’s north tower on Wednesday, according to the deed. The price equates to $2,721 per square foot.  01/08/2016

Some think that buying a Miami Beach home is impossible for most buyers due to the expense and lending hoops. It can seem like a daunting task to many first time home buyers. The good news is that we can find many affordable options in and around Miami Beach.Affordability is a matter of opinion, but I have seen many buyers find great options in the city. Now, if you want a sprawling huge home and lots of land on a budget, you are going to have to venture out to the burbs. On the other hand, if location is important to you and you can compromise a little here and there, finding a great affordable Miami Beach home may be an option.We have found that there are a lot of misconceptions about buying a property, and these misunderstandings can lead to a long hard road of navigating the home bu... 01/08/2016

     Courtesy of ONE Sotheby's International Realty A South Beach penthouse at Portofino Tower that Anna Kournikova used to call home just sold for $11 million. The seller is her ex-husband, Sergei Fedorov, a retired Russian NHL star who purchased PH-5 for $2.3 million in 1997, the same year the tower opened. It has four levels encompassing 5,680 square feet, with four bedrooms and six bathrooms. The 2 story living area is really breath taking with the 20+feet of glass looking out over the ocean. I remember touring this place back in 1997 when it was first being offered and was very amazed at the outdoor space and terraces.    01/06/2016

It's happening! After years of talk, the City of Miami Beach appears to be moving forward with a proposed light rail wireless sytem. It would provide mass transit up and down South Beach and, more importantly, ideally allow for convenient public transportation from Miami Beach to Downtown Miami (and vice-versa) via the MacArthur Causeway. This was such an obvious proposal but never moved forward in the past because of lobby interested i.e. the taxi cab companies. This will be such an amazing link for tourists to be able to get off their plane and on the train directly to Sobe. Can't wait until it happens! 01/03/2016

Miami Masterpiece sells for $19M  This 11,500-square-foot, contemporary-style new construction is highlighted by a media room, 1000-bottle wine vault, stunning pool, spa, Artefacto furnishings and a detached floating pavilion with a gym and guest suite.  The property was previously owned by NFL agent Jason Rosenhaus,  who sold his 3,700-square foot home to the developers for $5.7 million in 2014. It was torn down and developed into the contemporary perfection you see below. Tropical Miami at it's best!   All images are courtesy of Douglas Elliman       12/30/2015

Setai unit On Miami Beach Setai Units 2306/2308 via RedfinA trust in the name of Donald Trump's sister, Maryanne Trump Barry, sold a duplex at the Setai for $7 million. The buyer is a company linked to the creators of the Jordache Jeans empire, and owners of the Versace Mansion. They purchased the hotel portion of the Setai last December for $90 million. The duplex sale covers two units - 2308 and 2306 - within the 38-floor luxury hotel and condominium where Lil Wayne owns the penthouse. It has three bedrooms and three bathrooms and had an asking price of $8.5 million. The Trumps paid $7.8 million for the duplex in 2013, leaving them with a loss of nearly $1 million. 12/29/2015