Last week, the New York Post reported that Amar’e Stoudemire had recently listed his W South Beach duplex penthouse for $6.5M. As many of you know, Stoudemire plays basketball in the NBA for the New York Knicks. Below, you will find pictures of his plush South Beach condo. The 2 bedroom/2.5 bath unit has 2,428 square feet of interior and 2,816 square feet of exterior space with a private rooftop plunge pool and summer kitchen. Stoudemire purchased the penthouse condo in July 2009 for $5,575,000 directly from the W South Beach developer.
Best Priced 2 Bedroom at 900 Biscayne Bay – $510,000
We recently got a new listing at 900 Biscayne Bay. It’s a 2 bedroom/2.5 bath condo with 1,355 square feet of interior and 597 square feet of balcony. The unit has American maple wood floors throughout the living areas and marble floors in the bathrooms. The unit faces northeast with a view of Biscayne Bay. The asking price is $510,000 which currently makes it the best priced 2 bedroom at 900 Biscayne Bay. Contact us if you would like to view the unit in person or if you would like more information regarding unit 2012 at 900 Biscayne Bay.
Sales haven’t quite yet begun at Paramount Bay but the development was granted Fannie Mae approval last week. The conditional approval expires on September 25, 2011 which leads me to believe that we should expect sales to launch very soon. Paramount Bay, located in the Arts District of Miami at 2066 North Bayshore Drive, was developed by Royal Palm Communities and completed in 2009. The construction loan was originally held by Corus Bank which was later seized by the FDIC on September 11, 2009. Starwood Capital Group then acquired Corus’ real estate assets on October 2, 2009 by beating seven groups with a winning bid of $554 million. Paramount Bay was one of three condo developments residing in Miami that were part of the real estate portfolio acquired in that auction. Personally, I’m very excited about Paramount Bay and can’t wait to tour it again. I toured Paramount Bay in 2009 but the building wasn’t quite ready and I hear that Starwood has invested lots of additional money into the building over the past three months to really blow everyone away. No word yet on what pricing will be like but I’m expecting it to be close to that of 900 Biscayne Bay.
2 Bedroom Condo at Two Tequesta Point – $674,900
Last week, our client agreed to reduce the price of his condo at Two Tequesta Point from $696,000 to $674,000. This is a level that we are confident that it will sell quickly. The 2 bedroom/2.5 bath condo is located on the 29th floor and has 1,540 square feet interior, a large terrace off the bedroom and living room, marble flooring in the main living areas and carpeting in both bedrooms. The unit also has crown molding, an eat-in kitchen with separate dining room, custom built-in closets in both bedrooms and full side-by-side washer and dryer.
For those not familiar with Two Tequesta Point, it is a luxury high-rise located at 808 Brickell Key Drive in a privately gated neighborhood of Miami called Brickell Key. Two Tequesta Point is the building on the left in the above picture. The building offers spectacular amenities such as tennis, racquetball, basketball, 24-hour concierge and security, 24-hour valet parking, a bi-level fitness center and a beautiful bayfront swimming pool.
If you’re in the market for a luxury condo rental in Downtown Miami then you may want to take a look at the two gems below. Both rentals are stunning and came onto the market earlier this afternoon.
The first is a 4 bedroom/4.5 bath bi-level condo at Marquis Residences. The 57th floor unit has 3,880 square feet of interior with wood flooring throughout and comes fully furnished. Asking price is $12,000 per month.
The second rental is a 3 bedroom + den/4.5 bath penthouse at 900 Biscayne Bay. The unit has 3,493 square feet of interior, marble flooring throughout and an over-sized terrace unique to the 59th floor. The floor plan is pretty spectacular. Asking price is $8,900 per month. The condo is also available for sale at an asking price of $2,099,000.
900 Biscayne Bay #5901 – 3 bedroom + den/4.5 bath – $8,900 per month
Don’t hesitate to contact us if you have an interest in viewing either of the above two rentals. If these properties aren’t quite what you have in mind, please feel free to use our property search to find a rental that suits your style and needs.
Recent Luxury Condo Sales in Miami
Below are five recent luxury sales that have closed in Miami within the past 30 days. The unit at 900 Biscayne Bay marks the highest priced condo sale in the building for a non-penthouse unit.
Four Seasons Residences 49F – 3 bedroom/3.5 bath (3,795 square feet) – This condo sold for $3,025,000, or $797 per square foot, on February 17, 2011.
Four Seasons Residences 46B – 2 bedroom/2.5 bath (2,309 square feet) – This condo sold for $1,500,000, or $650 per square foot, on February 28, 2011.
Asia Brickell Key 1002 – 2 bedroom/2.5 bath (1,781 square feet) – This condo sold for $1,200,000, or $674 per square foot, on March 8, 2011.
900 Biscayne Bay 4006 – 3 bedroom/4 bath (2,335 square feet) – This condo sold for $1,100,000, or $471 per square foot, on February 28, 2011.
Bristol Tower 2101 – 3 bedroom/3.5 bath (3,065 square feet) – This condo sold for $419 per square foot, on March 11, 2011.
Only 40 Developer Units Remain at 900 Biscayne Bay
I was notified earlier today that only 40 developer units remain at 900 Biscayne Bay. It seems highly likely that 900 Biscayne Bay will be the first luxury condo development in Miami to sell out completely of those constructed during the recent housing boom. My guess is that the building will sell its last developer unit some time towards the end of April. The amenities and common areas at 900 Biscayne Bay are second to none which helps to explain why pricing has fared so well despite the downturn in the market. The building also has strong financials. I was recently informed that the association has $2M in reserves. It is rare to find a building in Miami that can boast such stability. Be sure to check out the video below if you wish to learn more about 900 Biscayne Bay. Feel free to call us if you have any questions or would like to tour the building.
iStar Financial Takes Ownership of South of Fifth
Earlier today, iStar Financial announced that it will now have full ownership of the luxury beachfront condominium project known as South of Fifth. iStar Financial had recently filed and won a foreclosure action against the developer of South of Fifth, BR Villa Luisa. Completed in 2008, South of Fifth is located at 125 Ocean Drive in the South of Fifth neighborhood of Miami Beach, Florida. 25 units remain unsold in the 28-unit luxury building along the picturesque beaches of South Beach.
Mint – Sales Expected to Launch at the End of This Month
Over the past three months, I’ve received a number of inquiries from people in regards to Mint. A few have inquired as to when sales are expected to begin while others have asked when they should expect rental listings to hit the market. Over the past four months, ST Residential has been working with original contract holders to get them to the closing table. According to public records, closings at Mint began on August 27, 2010. Since that time, there have been 110 recorded closings with prices ranging from$203,900 to $1.09M. Rental listings at Mint started to appear on the MLS within a few months of the first closing. There are currently 20 condos available for rent at Mint on the MLS with prices ranging from $1,575 to $1,750 per month for a one bedroom and $2,200 to $2,900 per month for a 2 bedroom. Sales are officially expected to launch at the end of this month to the general public. It’ll be interesting to see how the general public reacts to pricing once it is released. Mint is located at 92 SW 3 St, Miami, FL 33130.
