Landlords at the Yacht Club in South Beach are licking their chops in anticipation as more than a dozen deals are getting inked to lease apartments for the cast of this summer’s “Rock Of Ages” movie production starring Tom Cruise and Alec Baldwin. No word yet as to weather the two stars will be staying there, but that hasn’t stopped residents from guessing which cast members they’ll be bumping into on the elevator or poolside. New Line Productions, who is signing as tenant, is mum on … [Read more...]
20 Foot Shark Threatens Divers Off Miami Beach
December 17, 2010 By
This 20 foot shark was spotted circling divers 100 meters off the shoreline of Miami Beach on Wednesday morning during a routine miamibeachcondosfl aerial photo shoot. If you look carefully, you can see the dive flag between the boat and the shark. You can also see the last diver as he prepares to enter the water, while our circling plane draws attention to the yet unnoticed shark! Although no casualties were reported, this is a vivd reminder to those swimmers who enjoy distance swimming far … [Read more...]
Will Fannie Lend A Hand In Miami Beach?
May 8, 2010 By
I received a call from Julie Mc Gauldie last night, the Fannie Mae SAD (Special Approval Designation) liaison at the Continental Group spearheading Fannie’s push to assist financially shell-shocked Miami Beach condos. We’d been talking about the Yacht Club at Portofino in particular, and other Continental managed buildings in general. As the pre-eminent Miami and Miami Beach condo management purveyor, Continental was contacted earlier this year by the Fannie Folks to help coordinate Continental-managed … [Read more...]
Is Downtown Miami Ready For More Condos?
April 21, 2010 By
In a seminar hosted by Condo Vultures’ principle Peter Zalewski last night at the downtown Marriott, Isos Y. Stamelos-Monroe, Director of Acquisitions for Skyline Equities Realty, gushed about the proposed Sky Palace condominium development scheduled to break ground within two weeks at Mary Brickell Village: “we were turned down by 55 banks before we found a domestic hedge fund willing to underwrite the project!” exclaimed Isos. One might think that logic would dictate keeping the boat in … [Read more...]
Foreign Investors With Cash Are King
March 22, 2010 By
Confidence is beginning to find its way back into the Miami Beach Condo Market. Sales of condominiums increased 81% statewide this January over last January according to Florida Realtors, with a 14% decrease in the average sale price. Foreign investors with cash appear to be leading the pack, giddy about exchange rates and reluctant to miss their opportunity to find a warm place in the sun. All-Cash transactions were up to 26% in January over last January’s 18%, according to NAR, and Canadians … [Read more...]
Condo Sales in Downtown Miami Are Increasing
March 18, 2010 By
There's light at the end of the tunnel for Miami Beach Condo sales according to a special report by Michelle Kosinski of the "Today Show". Two thirds of the new downtown condos have been sucked up in a buying frenzy created by developer fire sales. Nobody is making any money off these sales, but inventory is disappearing, and it's not only investors buying, but a wide range of foreign soon to be residents who can't resist the incredible prices. At the rate they're selling, stability may return to … [Read more...]
New Park at South Pointe, Miami Beach
February 1, 2010 By
Earlier this year, Miami Beach's South Pointe Park re-opened, after a two year $22.4 million renovation. The main walkway is twenty feet wide and extends westerly along Government Cut from the now closed pier, past Smith & Wollensky's and the Apogee where it turns North and joins the Marina walkway. (It's illuminated at night by special light deflection towers to minimize the impact on nesting turtles) There's Meandering Pathways through spacious lawns of Papalum grass (think golf course) interactive … [Read more...]