Lea Black of the Real Housewives of Miami Sells Waterfront Mansion on Star Island for $34 Million

Another waterfront mansion has just been added to the market and the owner is non-other than Lea Black of the Real Housewives of Miami. Her and her husband, Roy Black are selling their waterfront estate on Star Island for $34 million.

The waterfront mansion is located at 45 Star Island Drive situated at the entrance of Star Island on 1.07 acres with 190 feet of water frontage with an expansive dock. Featuring 9 bedrooms, 9 full bathrooms, and 3 half baths, the home includes 2 stories of 10,636 square feet of living space. The property was built in 1981. Amenities for this massive mansion include a pool and guest cottage.

The Black’s originally purchased the home in 2011 for $7 million, which is also the same year that the Real Housewives of Miami first aired on Bravo.

Leah Black stated in an email to TMZ, “We had planned to renovate and move there ourselves, but later decided that with our son in college, the amount of time we spend traveling and in L.A. that it was not feasible for us to enjoy further. Although we own other homes, this one is very special to us because of the exclusivity it offers and the wonderful people that live there.”

Lea and Roy have listed their home ‘for sale by owner,’ and stated that they have received a few qualified offers. The family also owns home in Coral Gables, Key West, and Los Angeles.

Cryptocurrency Making Headway in Real Estate – Miami’s First Development Will Start Accepting Digital Currency

The real estate market is changing and it’s happening fast! We have seen sellers accepting cryptocurrency with offers as a bargaining chip and now we have our first Miami development accepting the digital platform currency for their development.

Arte Surfside Miami Beach is the first to join the cryptocurrency movement! Arte has officially partnered with SolidBlock, a securities trading platform, to provide safe and secure transactions for buying and selling needs.

SolidBlock’s is an end-to-end platform that helps real estate developers and fund managers raise funds offering digital securities. This platform assists with ‘tokening’ assets and selling shares in exchange for cryptocurrency. They believe that helping reduce overhead costs by moving quickly as well as structuring the safety for your business needs will achieve the highest level of cryptocurrency trading satisfaction. SolidBlock was founded in 2018 and has just recently expanded to the United States.

According to the Developer for Arte Surfside, Giovanni Fasciano, “Cryptocurrency is not only viable and sustainable new asset, it’s also the future of wealth. As more technology executives move to Miami and bring cryptocurrency along with them, it is crucial that buildings start to devise plans to make blockchain transactions easier and more secure for investors…”

Arte Surfside is setting the bar for real estate transactions in Miami and we are excited to see what is in store. The future of real estate is here. Are you ready?

‘Millionaire’s Tax’ Heads to New York While Bankers, and Big Earners Head Out

High tax rates are common within the city of New York and it has never really steered bankers, fund managers, and big earners away from ‘The Big Apple.’ In fact, the appeal to live in New York has always been the exclusivity of living there if you could afford it. But with a recent New York state budget agreement that plans to raise rates among certain high earners, there are some that are looking to move and settle south.

According to a Reuters article, a high level employee at a large bank who does not want to be identified stated, “I’m already looking for an apartment in Florida.” There has also been talk among others who are earning more than $1 million are considering moving their entire firms out of the city.

The breakdown of the legislation would have the top New York City earners paying an upwards of 15.73% in combined state and city taxes. To put it in perspective, the current tax rate for the state range from 4% to 8.82% and the city ranges are 3.08% to 3.88%

This legislation was named the “millionaire’s tax,” and is expected to increase taxes for earners who make more than $1 million a year. If implemented, this tax would beat California’s (highest in the country) tax rate.

Larger companies have already started moving staff out of New York. Some of note are Goldman Sachs Group, Inc, Virtu Financial Inc, and Elliot Management. A smaller hedge fund manager stated, “This creates an overwhelming incentive to move.”

Geoffrey Weinstein, a tax attorney for Cole Schotz stated that, “When wealthy people don’t like something, they don’t protest, they just leave.” If this is the case, then the tax will eventually fall on earners making less that $1 million.

With more people working remote due to the pandemic, places like Florida that have lower tax rates, lower real estate taxes, and are fully opened are becoming an ideal location for top earners. And we at Miami Condo Investments welcome them with open arms!

Phase 1 of Miami’s ‘The Underline,’ 10-Mile Long Park is Now Open

Miami’s Metrorail has opened its doors and space for the newest 10-mile long park called ‘The Underline.’ It is located on the underside of the Miami Metrorail. Once it is complete, it will begin in Downtown Miami stretching 10-miles all the way to South Miami.

The spaces will be filed with a bike/walking path, exercise areas, butterfly gardens, dog parks, performance areas and even horticultural designs by Fairchild Tropical Garden.

This city has just finished phase 1 of this park with phases continuing through 2025. The first half-mile from Brickell Station to Vizcaya Station is now open for exploration.

According to theUnderline.org, the 10-mile park will be separated into 4 separate areas, with each area having its’ own special purpose and features.

• River Room
  • Separated walking and biking paths
  • Dog friendly with dog bowls, clean up bags, and play space
  • Native vegetation
• Urban Gym
  • Strengthening and stretching station
  • Half-court basketball or soccer field
  • Running track
• Promenade
  • Sound stage
  • Gaming station
  • Outdoor dining area
• Oolite Room
  • 20 butterfly gardens along the 10-mile park

The designers are hoping it’ll serve as a space to improve the safety and healthy lifestyles of Miami residents as well as visitors. Phase 2 is set to begin soon and will start at Vizcaya Station.