It is hot and steamy in Miami. My family from Montreal loves to visit in the summer and spend their days lounging at the beach.
News about the residential real estate market in Miami is not lacking. Every day there are new articles about high taxed state residents looking to move to Miami.
Other news relates that foreign buying has slowed down while the building frenzy of the last few years has created a glut of inventory.
It is well know that we are now in a Buyers market. Prices are down and there are deals to be made for anyone shopping for a new home. If you're looking to buy, this is the perfect tine.
My old time buyers are calling me to get advice about where to buy.As in 2008, the buying situation is price sensitive and not only area specific, but building specific.For example, Downtown or Sunny Isles has a lot more inventory than Bal Harbour/Surfside or Miami Beach. Within each specific city, a price range of $1M and that of $5M do not dictate the same inventory or pricing. Finally, within each city, prices and inventory levels will differ greatly from one building to the next.
You need a realtor who understands the area deeply to navigate the situation before making an investment.
This month’s articles are all about this situation. One news item speaks of the glut of inventory in Miami, and more specifically Sunny Isles, whereas another speaks of the interest in the North Beach/Bal Harbour/Surfside areas.
On the other side of town, the much anticipated, iconic ZAHA HADID'S 10000 MUSEUM is starting closings. Hadid was known for her sinuous, curvaceous designs that pushed the limits of building shapes.
I wish you a Happy 4th of July and good travels.
Luxury Living in Miami
Shivani Vora - The NY Times
Opening later this year in North Beach, just up the road from Miami's hectic South Beach neighborhood, 87 Park is a residential condominium designed by the Italian architect Renzo Piano.
Not long ago, all the action in Miami seemed to happen in South Beach; visitors and locals had no reason to head to the neighborhoods to the north.
Today, it's a different story: South Beach has remained a place to party, but it has little room for development and it can, at times, feel a little grungy. The beachfront alternatives to the north have become more appealing.
Two in particular - North Beach and Sunny Isles Beach - are burgeoning with new luxury residential buildings and more developed downtowns with restaurants and boutiques.
"The property got a lot of buzz and helped people remember that North Beach existed," said Joelle Oiknine, a senior global real estate adviser with One Sotheby's International Realty.
In Miami, There Are Too Many Condos and Not Enough Foreign Buyers
Candace Tayloy - WSJ
An exodus of Latin Americans is exacerbating oversupply at the high-end, but local real estate players are banking on U.S. buyers fleeing high-tax states to give the market a much-needed boost
After being kidnapped seven years ago, Juerg Degenmann decided to move his family from Venezuela to Miami for increased security. Long a playground for Venezuelan elites, the Florida city seemed like a natural choice, especially since Mr. Degenmann already owned a vacation home there, and he had bought and sold several investment properties in the area.
He and his wife paid $1.85 million in 2013 for a waterfront townhome in Sunny Isles Beach with its own boat dock. He'd always done well with Miami investment properties, so he was unpleasantly surprised when he put the unit on the market for $1.9 million a year ago and got no offers. Now he's reduced the price to $1.495 million; it still hasn't sold. "I will never get the money I paid for it," he said. "The situation in Miami is tough."
Since 2007, Michael's flagship restaurant has defined Genuine Hospitality, the special experience that results when delicious food and thoughtful service come together, designed by a team who cares about great product and making people happy. Locals and visitors alike embrace and crave this unique approach to dining out -- some may consider Michael's Genuine Food & Drink a second home, a place where they're comfortable, that they want to share with friends.
From the moment you walk through the door, greeted with a smile and oysters piled high on the raw bar, the energy of our main dining room is palpable. The action emanates from our open kitchen, food bar stacked with fresh ingredients and our cooks bustling about, stoking the wood oven's flames as whole fish, chicken, vegetables and pizzas fly in and out.
Closings to begin at Zaha Hadid’s now-completed Miami condo tower
KATHERINE KALLERGIS JUN 28, 2019
One Thousand Museum Residences, the Zaha Hadid-designed skyscraper in downtown Miami, received its temporary certificate of occupancy and will begin closings as early as next week, the developers announced on Friday. Developers Louis Birdman, Gilberto Bomeny, Gregg Covin and Kevin Venger, along with the late Zaha Hadid, broke ground on the 62-story, 84-unit luxury condo tower at 1000 Biscayne Boulevard in December 2014.
The developers recently tapped Lotus Capital Partners to arrange a $331 million condo inventory loan for the building, according to an email obtained by The Real Deal. Offers were due in mid-June.
Number of Residences:128 | Unit Mix: Office Spaces
Architect: ARQUITECTONICA | Developer: CK PRIVE GROUP
Interior Designer: ARQUITECTONICA INTERIORS
Pricing: Starting From $300,000
Directly across from Aventura Mall. Modern, sleek, and designed for today's visionary businesses, Forum Aventura is the pinnacle of office space ownership. Forum Aventura is South Florida's only destination where your business can own the contemporary architecture and interiors of the world-famous Arquitectonica, the innovative landscape design of Roberto Rovira, and a highly desirable location in the thriving commercial district of Aventura.
Spend some time relaxing this summer and take advantage of deals on spa treatments throughout the months of July and August. Luxurious spas across the city are cutting prices on signature services, so it's your opportunity to score some much-needed pampering on your next vacation. Whether a solo retreat or a group outing, booking a discounted spa day is a no brainer during the summer holiday. Also, check out Miami's Most Luxurious Hotel Spas.
Visit Pérez Art Museum Miami (PAMM) for an exhibition entitled "José Carlos Martinat: Echo Chamber." The installation is a large-scale work made of mechanical light sculptures representingAmerican and Peruvian cultures and political landscapes. Organized by PAMM Associate Curator María Elena Ortíz with support provided by Revolver Galería, the wworks feature
What better way to celebrate the 4th of July than by watching one of the largest fireworks displays in South Florida at America's Birthday Bash. In Downtown Miami, the fun starts at Bayfront Park at 2 p.m. when the Budweiser beer garden opens. There will also be a free kids' zone and plenty of food and music to keep the party going. The night will culminate with a fantastic fireworks celebration over Biscayne Bay at 9 p.m. Or head out to Miami Beach, for the annual Fire on the Fourth Festival. The festivities take place at the North Shore Park Bandshell, 73rd Street and Collins Avenue, and include free morning yoga on the beach, kids play area with lots of fun activities, food trucks, live musical performances, and spectacular fireworks display at 9 p.m. Another great way to celebrate the Fourth of July, every year Miccosukee Resort & Gaming hosts their annual Freedom Festival. enjoy live music, carnival rides, and games, airboat rides, water slides, alligator wrestling shows, food, fireworks and more. Admission is free.
Every year, The Overtown Music and Arts Festival celebrates economic development and community enrichment in the historic Overtown district of Miami. Enjoy a stellar line-up of live music artists and activities for all ages. The festival will include vendors showcasing artwork, ethnic cuisine, unique crafts, jewelry and a vast array of entertainment. The event is free.
The second edition of the South Beach Mango Festival will take place at Lummus Park, located in the heart of all the action in South Beach. From a Mangos Rule VIP Dinner hosted by Chef Allen Susser to the official Mango Tasting Tent & International Mango Trade Fair, there will be plenty of opportunities to eat the deliciously sweet fruit at the peak of its season.
Joelle guided my husband and me through the purchase of a pre-construction condominium. As a fellow realtor from out of town, I was impressed by her knowledge, integrity and keen negotiating skills. I have recommended Joelle to people I know who are looking to buy or lease in the Miami market. They will not be disappointed!