It has been a rough couple of years for businesses due to COVID and the rising costs of goods/services. Within the past 2 years, a lot of businesses had to close, including one of South Beach’s favorite spots, The Regent. Recently, the Havana-inspired bar and lounge reopened with a new cocktail menu that will quench your thirsts.
Located inside the Gale South Beach, the bar and lounge originally opened in 2012. The bar was named in the Top Ten Hotel Bars in the World in 2017. In March 2020, The Regent closed its doors shortly after a renovation in 2019.
Before it was The Regent, it was called the Rec Room and was more of a night club themed spaced. Due to the renovation, the bar is now 3x the size of the once nightclub. The bar can also hold up to 200 guests.
Although The Regent is located in the Gale South Beach, you can still enter through a separate door behind the hostess stand of the Dolce restaurant. Once you make your way through the stairwell illuminated by neon signs, you will enter the bar area with a 10+ seat bar, comfy chairs, and leather banquettes.
The bar pays homage to classic 1920’s speakeasy with low lighting, leather fixtures, and privacy. In the early hours, hear low levels of jazz but the bass will rise later once the DJ starts spinning.
While you’re there, grab a Champiña or Peach One from the signature menu. If you get hungry, there is a limited food menu with cheese plates, chicken empanadas, and chips and guacamole.
The Regent is open Thursday through Saturday from 7 pm to 2 am.
5th Annual Automotive Showcase to take Place in the Miami Design District
Miami Concours will host the 5th annual automotive showcase in February 2022 located in the Miami Design District. The showcase was designed to celebrate American supercars but this year, it will be honoring one of the most iconic supercar collectors in the country.
The automotive show will be honoring innovator and car manufacturer, James Glickenhaus by showcasing his personal collection of supercars including his new production cars. He will also be showcases his one-of-a-kind race car.
Miami Concours will also be displaying John Hennessy’s limited edition Hennessy Venom F5 Hypercar. With only 24 of these cars manufactured, the price tag reaches to $2.8 million and can go up to 250 mph.
The showcase will also feature 60 hand-selected post-war automobiles that are owned by some of the most exclusive and significant collectors in the country.
A red carpet will run from NE 39th Street to NE 41st Street stretching half a mile, showcasing all of the unique and exclusive cars that concours has to offer. The show will take place on Sunday, February 18th-20th, 2022 beginning at 11am. You can register your concours car here.
December 2021 Posts Best Sales Month in Miami-Dade Real Estate History
This year has been a record-breaking year for Miami-Dade County real estate. Quarter one, we saw median sales prices reach record numbers as well as the number of homes sold. In the second quarter for 2021, a new record was set for the most home ever sold in that quarter.
In the third quarter, records for highest condo prices sold. And now, Miami has had its best December sales month in history with total homes sales, highest annual total dollar volume, most condo transactions, and most single-family home sales.
According to the Multiple Listing Service (MLS) for quarter 4, there has been 49% more sales and 103% more dollar volume in 2021. Year 2021 ended with 39,394 existing total property sales, up 49.5 percent from the 26,345 transactions in 2020 and 31.1 percent from the previous annual high of 30,041 transactions in 2013. Miami’s sales in dollars totalled $30.3 billion in 2021, an increase of 103.4 percent year over year.
The total sales record actually broke in October 2021 (10 months) which is a record in itself. In just nine months in 2021, Miami broke its all-time yearly condo sales record, selling 23,689 units, an increase of 80.9 percent over the previous year. Miami set a new record for annual single-family home sales in 11 months, with 15,705 units sold, up 18.5 percent from 2020.
Total home sales in Miami-Dade County increased 14.8% year over year in December 2021, from 2,990 to 3,433. While single-family house sales in Miami fell 1.2 percent, from 1,372 to 1,356, existing condo sales in Miami rose 28.4%, from 1,618 to 2,077. It’s the 15th month in a row that condo prices have risen by double digits year over year.
Nine of the top ten best house sales months in Miami history occurred in the year 2021. The month of June 2021 (with 4,057 total transactions) is still the most active in Miami’s history. Since MIAMI began keeping statistics in 1993, December 2021 (with 3,433 sales) has been the sixth-best sales month overall.
Home sales in Miami are also up considerably from December 2019. Total home sales in Miami increased by 41.6 percent in December 2021 compared to December 2019, from 2,424 to 3,433. Single-family house sales in Miami are up 15.5 percent, while condo transactions are up 66.2 percent, compared to December 2019.
In December 2021, single-family luxury ($1 million and more) transactions in Miami increased 18.6% year over year to 262. Existing condo luxury ($1 million and over) sales in Miami increased by 100% year over year to 264 transactions.
Luxury single-family homes have a 3.2-month supply, while luxury condos have a 7.5-month supply. Month-over-month and year-over-year, luxury months of supply continues to decline for all property categories.
In December 2021, 535 single-family houses priced between $400K and $600K sold in Miami, up 25.6 percent year over year. Existing condo sales in Miami increased by 101.7 percent to 359 deals, with prices ranging from $400K to $600K.
Single-family median prices in Miami-Dade County grew 15.4% year over year in December 2021, rising from $454,900 to $525,000. The median price of a single-family home in Miami has grown for 121 months in a row, a stretch of 10.1 years. The typical price of an existing unit grew 29.3% year over year, from $274,500 to $355,000. In 123 of the last 127 months, condo median prices have risen.
In December 2021, Miami’s total monetary volume was $3.1 billion. The dollar volume of single-family homes climbed 27.7% year over year, from $1.31 billion to $1.67 billion. Year over year, condo dollar volume increased 68.5 percent, from $853 million to $1.4 billion.
In December 2021, cash transactions accounted for 40.4 percent of Miami closed sales, up from 32.2 percent in December 2020. According to the most recent NAR statistics, cash sales account for about 23% of all house sales in the United States. Cash sales made up 49.1% of all existing condo sales in Miami and 27.1 percent of single-family home sales.
Estate Featured on Miami Vice Sells for $13.9 Million
Photo Credit: Jill Eber
Andian Group, a Miami-based development firm led by Andres Isaias and Alejandro Diaz Bazan recently purchased a Miami Beach waterfront home for $13.9 million. What a deal for the estate that was originally on Miami Vice.
The property is located at 1415 North View Drive on Sunset Islands. The property itself features 7,748 square feet sitting on 0.6 acres. With 6 bedrooms and 8 bathrooms, the contemporary design showcases custom walls, marble flooring, and soaring wood-beamed ceilings.
Skylights and large windows center on the incredible outside views. The home also features a custom bar in the main living area, a gourmet eat-in kitchen with top-of-the-line appliances. Carrara marble unfolds throughout the bathrooms making the home a luxurious retreat.
The exterior of the home feature an in-ground pool with a fountain, 97 feet of water frontage, and the ability to place a long boat dock.
Photo Credit: Jill Eber
The home was originally built in 1983 and was utilized from 1984 to 1990 for the filming of the original Miami Vice.
The property records state that the seller is Lions Global Venture out of Miami. Lions Global purchased the home in 2013 for $7.6 million.
The Andian duo plans to renovate and sell the home for profit. They have been very active in Miami Beach and have recently sold a home on the Venetian Islands for $15.1 million.
Photo Credit: Jill Eber
Elite Supermodel Adriana Lima Sells Waterfront Indian Creek Mansion for $40 Million
Former Victoria Secret supermodel, Adriana Lima sold her oceanfront Indian Creek Island mansion for $40 million.
Lima purchased the estate located at 22 Indian Creek Road in 2009 for $9 million and then remodeled the home completely in 2020. The home was originally built in 1958 and features 6,465 square feet of living space.
The old listing photos show the all brick ranch situated on 1.84 acres bayfront. The photos also show a traditional floor plan with wood-paneled walls and the original kitchen. The expansive patio overlooks a large dock and gorgeous ocean views.
The 6,465 square-foot mansion was built in 1958 and might be demolished. According to public records, Lima had the home’s interior remodeled in 2020. Although it was remodeled by Lima, the new buyers may demolish the property.
According to public documents, the trust associated with Lima, a Brazilian model, and former Victoria’s Secret Angel, paid $9 million for the four-bedroom, four-bathroom mansion in 2009.
According to the data, both the buyer and the vendor attempted to conceal their identities. Gordon Weiss, the proprietor of the CPA company Weiss & Weiss, manages the sale. Melep International Ltd, a British Virgin Islands company, is named as the buyer. The buyer’s genuine identity is unclear.
Indian Creek Island is a barrier island located in Biscayne Bay and has always attracted the super-wealthy dubbing its name “Billionaire Bunker.” On 294 acres of Island, 41 estates are nestled on the exclusive island surrounding a golf course and country club.
The island is heavily guarded, employing its own professional police force with an armed patrol boat, jeep, and jet-ski, operating 24 hours a day. Record-breaking home sales are commonplace on Indian Creek Island, where extravagance and utmost privilege are the standards.
Another Former Miami Heat Player Sells Miami Mansion
We have been seeing a lot of Miami Heat basketball players, as well as former players, sell their Miami homes. Now we can add former center, Meyers Leonard to the list with his recent sale of a Bay Point waterfront home for $10.89 million.
Leonard and his wife, Elle purchase the home in February of this year for $7.78 million. The property is located at 741 Buttonwood Lane features 6,819 square feet of living space sited on 0.43 acres on an interior lot in a canal with direct access to Biscayne Bay.
The modern waterfront with vine-covered loggias surrounding the exterior showcases 7 bedrooms with 8.5 bathrooms. The estate was built in 1996 and was renovated in 2018 to feature high ceilings, Italian cabinetry by Italkraft, oak hardwood floor throughout, and stainless steel appliances. Outdoors, you will find a 2 car garage, entertainment area with custom seating, and a heated pool/spa. The new owners will also enjoy the aluminum deck with a boat lift.
Eduardo Marquez and his wife Gabriela are listed as the buyers for this property. Marquez is the President of Lucky Player Vodka (located in Miami). The mortgage for the buyers was provided by Citibank for $6 million.
Meyers Leonard, originally from Virginia, played high school basketball for 2 years then was drafted into the NBA in 2012. He was a first-round draft pick but 11th overall. He was traded from the Portland Trail Blazers to the Miami Heat in 2020 where he assisted the Heat to reach the NBA Finals for that year. In 2021, he re-signed another contract with Miami but ended up injuring his shoulder in January 2021.
In a recent Instagram post, Leonard stated on his future of the NBA, “I’m simply not healthy enough to play.” He also stated that he is looking forward to 2022 and what is in store for his career and family.
Moishe Mana Expands Portfolio to 3 Buildings for $25.4 Million in Miami
Miami’s biggest landlord, Moishe Mana, has bought three additional buildings to add to his forever expanding portfolio. As part of his aim to convert the Downtown Miami into an innovation and cultural centre, he plans to create, Mana Common. Moishe Mana has spent much of this year investing in commercial properties as well as residential properties in Miami that he has been making a big time profit on!
Mana paid a total of $25.4 million for the three properties at 100 North Miami Avenue, 173 Northeast First Street, and 124 Northeast Second Avenue. The buildings total 50,197 square feet, and are part of Mana’s portfolio of more than 60 properties in and surrounding Downtown Miami.
According to property records, the two-story, 18,535-square-foot structure at 100 North Miami Avenue was built on 0.2 acres in 1941. According to state corporate filings, the seller Flexini Investments is led by Mario Sapoznik. The two-story, 7,200-square-foot building at 124 Northeast Second Avenue, erected in 1922 on less than 0.1 acre, is two blocks west, according to property records. On 0.3 acres, it lies next to the two-story, 24,462-square-foot structure at 173 Northeast First Street. The two buildings were sold by SG & S, which was led by Ana White.
The majority of his properties are older low- to mid-rise buildings with small businesses including clothes boutiques, pawn shops, and cafes.
Mana intends to repair or redevelop his properties to establish Mana Common, a campus-like space aimed at integrating Latin American and American digital companies. Despite the fact that Mana has started work on several of his properties after years of land acquisition, he has run across some roadblocks recently.
Mana had commissioned engineering inspections prior to beginning repairs, which revealed the buildings had “significant structural issues.” Mana Common’s representative declined to provide an update on the buildings. Some of the buildings that he has started repairs include the Nikola Tesla Innovation Hub, a fashion mall, the Flagler Studios, and another building on East Flagler Street.
Miami Real Estate Sets Another Record for its Best Sales Month for November in History
Miami-Dade has seen yet another record smashed for real estate sales this year. November is now officially had its best sales month in history following highest total home sales, highest condo sales, and highest single-family home sells.
As of November, Miami has officially hit 35,961 total home sales with the previous record hitting 30,041 transactions for 2013. Although November has the highest home sales for any November in History, June 2021 is still considered the number one sales month in Miami history. November is ranked the 8th best month overall.
Total home sales for Miami-Dade County rose 22.9% for the month of November to 3,021 sales. This is up from 2,459 sales compared to October sales. Single family home sales have increased 1.2% to 1,168, while condo sales have seen a dramatic increase of 42% at 1,853.
For November, Miami home sales showed an increase at 48.6% compared to November 2019. For home sales, transactions saw a 20.2% increase and a 74.6% for condo transactions compared to November 2019.
Luxury single-family home sales saw an increase in 28.2% at 209 sales for November 2021. While luxury condo sales rose 115.6% at 207 transactions.
As for the Miami home sale supply, luxury single-family home sale are 3.6 months and luxury condos remain at 8.4 months with a trend downward month after month.
Single family homes saw an increase of 15.1% between the prices $400,000 to $600,000 with 405 transaction in November. Condo sales that were in the same price range also saw a 132.6% increase at 321 transactions.
The dollar volume totaled $2.2 billion for November with an increase in single family home volume by 14.9% and condo dollar volume at 92.8%.
For the state of Florida, closed single-family home sales totaled 27,541 bringing the total sales up 4.3% compared to last year. Condo sales are down 5.4% at 11,598 total sales.
Median home sales price rose 19.6% with a median sales price $364,900, while the condo sales price is up 19.9% with units median sales price averaging in $273,270.
Cash sales accounted for 60% of all Miami home sales more than the national average for November 2021. For closed sales, cash represented 38.4% of Miami closed sales. For condo sales, cash represented 46.9% while 24.9% represented single-family home transactions.
The demand for Miami real estate continues to increase. The factors that have caused this increase include travel restrictions being lifted to the states, low interest rates, and lack of covid restrictions.
M Tower Redesign Renderings Revealed
Located at 56 SW 1st St and 65 SW 2nd Street, M Tower will rise 49 stories in Downtown Miami. Recently, the developers released renderings for a redesign of the tower. M-Tower will be developed by the Miami Parking Authority and a private developer in a partnership.
The old plans showcased the property reaching 53 stories, 440 condo units, and 818 parking spaces. The tower was proposed to encompass 622,783 square feet total with 25,732 square feet of office space and 1,089 square feet of retail. These previous designs were created by Zyscovich Architects.
The new designs showcase 624 condo units, ground floor retail, offices for Miami Parking Authority, and 717 parking spaces. The architect for the redesign is NBWW Architects located in Coral Gables.
In the previous design, the older garage on the property was to be refinished and incorporate some of the new design but the current plans show an entire demolition of the site with plans to rebuild.
The property that the proposed M Tower sits on sold earlier this year to an affiliate of the Lion Group NYC for $10 million.
If the new redesign is approved by all parties, then construction will begin in 2022.
