You Can Now Buy Two Arte Surfside Condos for 560 Bitcoin
Bitcoin has become one of the ultimate currencies in Miami. Now more than ever, consumers are able to utilize crypto for food purchases, nightclubs, and real estate. Arte Surfside completely revolutionized the real estate market by being one of the first developments in Miami to begin accepting Bitcoin for their luxury condos.
The developers for Arte Surfside currently have two luxury units for sale for a combined price of $31 million or 560 bitcoin. According to the developers, Alex Sapir and Giovanni Fasciano have stated that offers can be made in either bitcoin or ethereum.
According to Sapir, “We were overwhelmed by the amount of calls we received from qualified buyers just after announcing our ability to facilitate cryptocurrency transactions for the condominiums at Arte. Real-world crypto transactions haven’t made their way fully into the mainstream yet, so it’s clear that top holders around the world pay attention when new opportunities to transact open up.”
One of the crypto units at Arte is listed at $18.95 million and features 6,982 square feet of living space. The second unit is listed at $11.9 million and is around 3,500 square feet. These incredible units boast oceanfront views, wraparound terraces, large walk-in closets, and high-tech entry access.
Photo Credit: Dina Goldentayer
Building amenities include an indoor and outdoor swimming pool, full-size tennis court, state-of-the-art gym, yoga studio, sauna, catering kitchen, and white-glove butlers.
Arte Surfside Amenities:
A 75-foot indoor swimming pool
An outdoor swimming pool, sundeck, and poolside cabanas
Rooftop tennis court
State-of-the-art fitness center and yoga studio
Sauna and steam room
Tranquil meditation pond
Children’s playroom
Residents’ lounge with billiards and catering kitchen
Temperature-controlled parking spaces
Arte Residence Features:
Expansive terraces clad in travertine with ipe decking
Gracious kitchens featuring Poliform cabinetry, Italian marble countertops, and Gaggenau appliances
Sweeping views of the Atlantic Ocean
In June, a penthouse in Arte sold for a record-breaking $22.5 million in crypto. The type of cryptocurrency for this sale was not released. With more developers jumping on the crypto train, we can expect in the future that digital currency will eventually play a larger role in the real estate market and potentially affect how we make offers for our buyers and negotiate for our sellers.
Champlain Towers South Site Under Contract for $120 Million
After the devastating Champlain Towers South Condocollapse that occurred on June 24th and all search efforts ceased, demolition and clearing of the site began. As of August 30th, the site located at 8777 Collins Avenue, Surfside was cleared and listed for sale at $95.6 million.
Right after the property was listed, billionaire real estate developer Hussain Sajwani offered $120 million with the stipulation that he would obtain possession by the spring of 2022 to begin construction on a luxury high-rise.
The sale for the 2-acre waterfront property has been officially and is now under contract. Now that the property is under contract, Sajwani has to pay a $16 million deposit. Judge Michael Hanzman approved the agreement with timeline outlines for inspections and deadlines for other bidders. This would include the $16 million deposit as non-refundable following a 60-day inspection period.
With the sale of this site, there has been a lot of pushback among the survivors and the victim’s families. As part of a class-action lawsuit, the judge that is selling the property has tried to expedite the sale in order to get the families compensated.
Proceeds from the sale are still unknown. The attorney for this transaction stated that the appraised value of the property is $95.6 million. The total for the insurance coverage held by the condo association is $48 million. There is also $30 million in property damage and $18 million for personal injury. The decision is whether to award the families all of the $120 million and the $30 million property insurance payout or award the appraised value of $95.6 million.
Some families have also petitioned for a memorial to be built on the property rather than another tower. Families have sent letters to state and federal lawmakers asking to assist in purchasing the land for a memorial. The families have asked the Surfside Commission to add a referendum on the upcoming ballot for voters to approve a land-swap proposal to build the memorial and a community center. Press conferences have also played a role but with no such luck.
Sajwani has an extensive portfolio with establishments of his company DAMAC Properties in global cities like Dubai, Abu Dhabi, Amman, Baghdad, and London. Sajwani has heavily invested in luxury fashion, real estate, hospitality, and manufacturing.
Another North Bay Road Mansion Sells for $13.6 Million
Photo Credit: Robert Evangelista
North Bay Road mansions have been a hot commodity this year! In January Phill Collins sold his North Bay Road mansion for $39,250,000 and is set to be demolished by buyer Thomas Bravo. In June, Jennifer Lopez and Ben Affleck rented a waterfront mansion for $130,000 monthly. With so much activity, it’s of no surprise how quickly these Miami Beach multimillion-dollar homes sell.
Lawyer Stephen Zack and his wife, Marquerite, also sold their mansion located at 5310 North Bay Road. The couple sold the home for $13.6 million after they originally purchased the home just 3 years ago for $8.5 million. Since 2018, the home has been listed for sale with an original list amount of $21 million.
The buyer for this Miami Beach home is listed in the county records as North Bay Road Developments LLC, a company that is managed by Guillermo Osses, Francisco Perez, and Miguel Yoma.
According to public records, Osses is the Vice President of Atacama 2108 LLC and is also affiliated with 23 other companies. Yoma is the Manager for San Marino Developments. The partners financed the purchase through Terrabank for $6 million.
The magnificent waterfront estate features 8,148 square feet of living space with 6 bedrooms and 6 full and 2 half bathrooms. The Georgian-style home has been remodeled two times, remarkable mansion features a 5,000 bottle wine cellar, pool. jacuzzi, and expansive home theater.
Stephan Zack is a trial attorney and partner at Bois Schiller Flexner LLP. He was also the lead attorney for former Vice President Al Gore in the Florida recount litigation that took place in 2000. During that time, he was an expert witness for voting accuracy. He is also a past president of the Florida Bar Association as well as the American Bar Association.
The Zacks also have a luxury unit located on the 54th floor of the Four Seasons Residences, which they purchased in July for $8.1 million.
Photo Credit: Robert EvangelistaPhoto Credit: Robert EvangelistaPhoto Credit: Robert Evangelista
Miami Real Estate Breaks Another Record for August 2021
The Miami-Dade real estate market keeps smashing records over and over! For August 2021, a new record was set for the most homes sold in a quarter for Q2 in 2021. In April alone, we saw the best sales month in the history of Miami Dade county. Now, another record was set with the best August sales month in history!
There are multiple reasons for these records breaking, which include companies and executives moving their businesses to Florida in the masses, lower taxes than other states, record-low mortgage rates, and reduced covid restrictions.
Total homes sales surged 30.6% for August 2021 with an increase to 3,299 from 2,527 properties in 2020. There was a slight decrease in sales for single-family homes at 3.5% sliding from 1,357 to 1,309 from August of last year. However, we did see a 70.1% increase in condo sales from 1,170 to 1,990 compared to last year.
All price ranges have also increased for August 2021, especially in the $300,000 and higher range. The median sales price for single-family homes is up 20.3%, placing the average price at $500,500. Condo median prices are also up from the previous year from $265,000 to $335,000.
Insufficient inventory has also impacted sales. We have seen less inventory specifically for single-family homes which has decreased by 27.4% for August 2021 and 41.9% for condominiums.
Single-family luxury homes have also increased by 68.8% with 258 sales than 2020. Luxury condo sales increased by 217.1% with 222 sales.
Total volume for Miami-Dade real estate reached $2.5 billion in August 2021, with single-family homes increasing from 37.4% at $1.4 billion. Condo volume also increased from $490.8 million to $1.1 billion, at 129.2%.
Cash sales have also played a huge role in transactions. Buyers are paying cash at asking or over asking prices for listings. Cash sales represented 38.9% of all closed transactions for August. Cash sales accounted for 47.6% of condo sales and 25.8% of single-family sales.
Miami is on track to have its best year in sales for condos and single-family transactions ever. Within 8 months, total sales have already surpassed 2020’s numbers at 26,931 from 26,345 (2020). The highest year for sales in Miami was in 2013 at 30,041 total transactions.
Total Number of Transactions Increased for this Week’s Miami Dade Condo Sales
Over the past few weeks, we have seen a steady incline in overall condo sales including volume and number of sales. This is of no surprise with the increase of companies, execs, and people taking up residency in Miami-Dade County.
Coming in at $123 million, this week’s condo sales volume increased from $85.3 million in the week prior. The total number of sales has risen to 198 for this week, up from 128.
The average price for condo sales reached $622,000 which has actually decreased from $666,000 then the week prior.
Leading this week’s condo sales in a luxury unit at Continuum South Beach that sold for $8 million or $2,708 per square foot. This luxury property located at 100 S Pointe Dr. Unit #3507 was sold to tech entrepreneur Hari Ravichandran, who is the CEO of Jump Ventures and Aura.
Last week’s highest condo sale was lead by Lucas Lechuga (Luxe Living Realty-Miami Condo Investments) with the sale of a Setai Miami Beach condo that sold for $12.3 million.
The sale coming in second includes a luxury unit at Palazzo Della Luna on Fisher Island. The property sold for $7.5 million or $2,045 per square foot and was on the market for 324 days. Luxe Living Realty’s Dora Puig represented the seller.
Joe Jonas and Sophie Turner Make a Move to Miami with a Purchase of an $11 Million Waterfront Mansion
Joe Jonas and his wife Sophie Turner are the newest celebrity couple that has made the move to Miami along with countless others.
Their recent purchase of a waterfront property located at 4400 Island Road in the Bay Point Community, sits directly on a channel leading to Biscayne Bay. The couple paid $11 million for the 6 bedrooms, 8.5 bathroom estate.
This unique property was inspired by Frank Lloyd Wright, an American architect who has designed over 1,000 structures over his 70-year career. This specific estate was designed with harmonic accents while incorporating outdoor aesthetics. The Island Road mansion utilizes indoor gardens, a koi pond, and a grand salon with 30-foot ceilings to create a tranquil ambiance.
Over the years, this home was renovated with no expenses spared in the designs. Walking through, you’ll find Calcutta baths, Ornare closets, a sauna, gym, and steam room. Other features include a climate-controlled wine cellar and gorgeous cherry hardwood floors. The home also features a 10-foot pool, 94 feet of water frontage, and a boat dock.
The home was previously owned by Cuban-American musician Willy Chirino. Chirino is a Miami native and began his artistic career in Miami, releasing his first album in 1974. Since then, he has recorded over 20 albums and was nominated for multiple awards in 2007 at the Latin Grammy Awards. Chirino sold the home in 2014 for $4.2 million.
According to county records, the current sellers are Luis Arguello Jr. and Sylvia Chamorro. Arguello is the chairperson and CEO of DemeTech, a Miami-based maker of surgical sutures, mesh, and bone wax.
Joe Jonas is known as an American singer-songwriter and boy band member of the Jonas Brothers who debuted in 2006. Their band split in 2014. In more recent years, Joe has reunited with the Jonas Brothers and has created songs that we all know and love, including What a Man Gotta Do, Cake by the Ocean, and Sucker. Joe married Sophie Turner in March 2021.
If you’ve watched Game of Thrones, you know that Joe’s wife, Sophie Turner doesn’t need an introduction. From 2011 to 2014, she played the very difficult role of Sansa Stark. Game of Thrones was her first television role at the age of 14. Her career also placed her in other movies including X-Men, Barely Lethal, and The Prince. She has also modeled for Louis Vuitton and Gucci.
The couple listed their Enchino, California mansion in June for $16.8 million. Their home is still on the market.
This Bay Point community has seen a lot of activity in recent months with a former Goldman Sachs exec purchasing a waterfront mansion for $11.3 million and a record sale of $17.4 million in May 2021.
Photo Credit:Dina Goldentayer
Hedge Fund Manager Purchases Coconut Grove Waterfront Mansion for $19 Million
Photo Credit: Toni Schrager
Heath Freeman, the Managing Director for a New York-based hedge fund management company (Alden Global Capital), recently joined the Miami luxury real estate market craze. According to county records, Freeman purchased in the gated community of Camp Biscayne of Coconut Grove.
Freeman, also known as the “Hedge Fund Vampire,” received his name from his company’s aggressive and savvy business strategy. This strategy included buying companies, making aggressive budget cuts while laying off its employees.
These companies mainly included media outlets and many have criticized Freeman’s tactics. Alden recently purchased Tribune publishing, a parent company for the Chicago Tribune, and the Sun Sentinel in May for $633 million.
Freeman purchased the waterfront mansion located at 3503 Main Lodge Drive for $19 million while financing $12.4 million through Wells Fargo. The estate was originally built in 2004 and featured a 12 seat theater room, gym, game room, elevator, and an 8-car garage.
Over the years, the 6 bedrooms, 6 bathroom property received renovations and increased the size to 9,700 square feet. The estate features 1 acre packed with wonderful amenities including soaring windows, Italian Marble and hardwood flooring throughout, an expansive eat-in kitchen, library, and a full guest suite.
Photo Credit: Toni Schrager
The bayfront estate also features a 200-foot boat dock, white sandy beach, 60-foot pool, with tropical foliage covering the property to create optimal privacy. The neighborhood itself features 18 homes in the private Camp Biscayne neighborhood. Camp Biscayne is located near Mr. C Miami, Two Park Grove, and Grove at Grand Bay.
Photo Credit: Toni Schrager
The seller of the Camp Biscayne property, David Ivler President of a Miami-based drone manufacturer, purchased the home in 2004 for $1.5 million and later deeded it to his wife in 2007. The property was originally listed for $22 million in March 2021.
Other waterfront homes in Miami have also sold for elevated prices including Spencer Kupferman, CEO of PKWare, purchasing $12.75 million estate while the previous owner paid $3.6 million.
Photo Credit: Toni SchragerPhoto Credit: Toni Schrager
Nicky Jam Purchases a One Thousand Museum Luxury Condo for $6 Million
Photo Credit: Darin Feldman
Nick Rivera Caminero, also known as Nicky Jam is an American singer, actor, songwriter, and rapper. He is best known for hits “Travesura,” “Te Busco,” “El Amante,’ and ‘En la Cama.”
He is especially known for his fast-paced reggaeton compositions mixed with his romantic lyrics. He has collaborated with many well-known artists including Daddy Yankee, Ozuna, Plan B, and Anuel AA. Nicky has also won 20 Billboard Latin Music Awards and 1 Latin Grammy Award.
More recently, Nicky has made Miami home, with the purchase of a luxury condo at One Thousand Museum in the Park West subdivision of Miami for $6 million. The unit features 4,600 square feet of living space with 4 bedrooms, 5.5 bathrooms, and staff quarters. This specific unit stretches over a half-floor
This incredible unit boasts all of the finest finishes including Sub-Zero, Duravit, Apure lighting, Gaggenau, Dornbracht, and Crestron. Nicky will enjoy stunning Biscayne Bay, park, and Miami skyline views from all areas of the unit.
Miami-Dade country records show the property was sold by Green House Domestic Holdings Four LLC., managed by Humberto C. Bethencourt. Bethencourt is listed as the President of R&A Consulting & Investments, Inc. The property was last sold in 2019 for $4.54 million.
One Thousand Museum was designed by the late Pritzker-winning architect Zaha Hadid and developed by Louis Birdman, Gregg Covin, Kevin Venger, and Regalia Group.
One Thousand Museum is the first residential development in South Florida to have its own rooftop helipad, making it possible for residents to travel to nearby islands, private and commercial airports, and private yachts at a moment’s notice.
One Thousand Museum Amenities
Spacious fitness center with state-of-the-art strength and cardio training equipment
Spa with private treatment rooms, steam and sauna rooms, plunge pools, and relaxation lounge
Multimedia theater for private movie screenings, lectures, and presentations
Sun & Swim Terrace with pools, lounge chairs, cabanas, and poolside towel service
Aquatic Center with indoor, infinity-edge pool
Private dining room
Triple-height event space overlooking Biscayne Bay
Private rooftop helipad
Specialized security and valet personnel
Full-service concierge
Bank-quality vault with individual safe deposit box for every residence
One Thousand Museum Residence Features
Custom Italian cabinetry by Poliform
Fine quartz countertops by Silestone
Induction cooktop, oven, steam oven, microwave, dishwasher, and integrated coffee maker by Gaggenau
Refrigerator by Sub-Zero
Faucets and fixtures by Dornbracht, Duravit, and MTI
Interior doors by Lualdi Porte with door handles designed by Zaha Hadid
Custom-designed, Italian-made walk-in closets
Extensive state-of-the-art home automation by Crestron, allowing residents to control a range of in-residence applications including lighting, heating, air conditioning, audio, video, window treatments, and security
These unique and luxurious units range from $4.95 million to $20 million and with the popularity of the luxury condo market, the inventory has become limited. If you or someone you know have an interest in purchasing one of the One Thousand Museum Residences, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.
Russian Buyer Purchases MarinaBlue Condo with Cryptocurrency
Cryptocurrency has made headway this past year within the real estate market. To compete with multiple offers or to make offers more appealing, buyers have been utilizing different types of the digital currency.
The digital asset is not only being accepted for real estate transactions but for the purchase of goods and services as well. Miami nightclubs, retail shops, and airlines are starting to accept this form of payment. Other large chain retail stores including Overstock.com, Microsoft, and Home Depot are also on the crypto train.
Within the real estate market, many developers are beginning to accept crypto on their new construction towers. PMG was one of the first developers to begin accepting crypto on their new construction tower, E11EVEN Hotel & Residences. A penthouse at Arte Surfside was also recognized for being one of the largest cryptocurrency transactions ever.
Lucas Lechuga recently closed on a MarinaBlue unit #4803 to a buyer from Russia for $465,000. The buyer purchased the unit using cryptocurrency. The unit itself features 1 bedroom + den, 1.5 bathrooms that offered views of the ocean, downtown Miami, and Biscayne Bay. This unit boasts 10-foot ceilings with floor-to-ceiling glass windows and marble flooring throughout.
This unit is considered the second-highest price sale for a 1 bedroom ever at MarinaBlue.
Floor-to-ceiling Impact-resistant Sliding Glass Doors and Windows
9-foot Ceilings in Most Condos; 10-foot Ceilings starting on the 44th Floor; Lofts with 18-foot Ceilings
Penthouse Units with 20-foot ceilings
Full-size Stackable Washer and Dryers by Frigidaire
European-style Cabinetry and Stainless Steel Sink in Kitchen
Stainless Steel Refrigerator/Freezer, Microwave and Oven/Stove by Whirlpool
Master Bath Features Marble Floors and Double Vanity
Spacious Walk-in Closets
If you or someone you know have an interest in purchasing one of the units at MarinaBlue, or any information on the cryptocurrency process, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
