South Beach Real Estate Options
By Paul Hansen
So Many Options...
It's true. If you're in the market for a South Beach Condos, there are a variety of choices. A few years ago, condo purchases were generally limited to first-time buyers and single professionals. But now, as the baby boomer generation is nearing, or at, retirement age, they're causing a shift in condominium perspective and development.
The baby boomers have driven housing markets for years. And this year is no exception. An unprecedented demand from the Baby Boom generation has sparked a condo craze in Miami's South Beach area. As the demand for condos has increased, Developers discovered more and more creative ways to meet the demand. Branching out from the standard apartment-style condos, Developers are now offering hotel and/or resort-style living as well.
If you're thinking about purchasing a South Beach Condo take a look at your options.
Option #1 - Standard South Beach Condo
Granted, they're upscale condominiums with many of the same amenities of a resort or hotel. These are properties that were designed to be condos. Prices, of course, vary with location.
This gated community boasts 12 acres of beautiful property that includes fountains, pools, and gardens. The Continuum is 40 stories of condos with 10 ft ceilings and wrap-around balconies. Combine that with valet and concierge services, waiters and fitness trainers, exquisite views and a thousand feet of beach, and you've got resort-style living everyday!
There are 15 different floor plans to choose from, ranging in size from 1,200 sq. ft. to 4000 sq. ft. As a resident of the Continuum, you will enjoy door to ceiling sliding glass doors (that meet South Florida building code hurricane standards) that open up to your private balcony, imported marble, Kohler fixtures, whirlpools and more.
Surrounded by beautiful landscaping, the Continuum also has tennis courts, a private spa, pavilions, and four floors of fitness and treatment rooms.
Located at the Southern-most tip of South Beach, the Continuum puts you in the heart of the best that Miami and South Beach have to offer. Prices range from $1,000,000 to $15 million.
Located in the increasingly popular SoFi area, Icon's 270 units offer the best of both worlds. World #1 is first class shopping and dining at places like Versace, Armani, Williams-Sonoma, China Grill, Nemo's, and Smith & Wollensky. World #2 is the simple life. Sunsets on the Bay, moonlight walks on the beach, sunrises over the ocean, and calming tropical breezes.
Icon pampers it's residents with amenities such as a Heath and Fitness Spa complete with sauna and steam room, a heated bay front lap pool, 24-hour complimentary valet parking, concierge services, housekeeping service, laundry and dry cleaning valet, and a resident cafe overlooking the bay. But the luxury doesn't stop there! Each of Icon's 1, 2, and 3 bedroom condos features a choice of either ocean or bay views, granite or marble kitchen countertops, imported European custom cabinets, 9' high ceilings, walk-in closets, high speed internet service, and more.
Over-sized balconies and unique floor plans make Setai condos worth seeing. The 40-story condominium tower features 175 residences, and unforgettable views of the ocean, South Beach, and the Miami skyline.
The Setai offers you the choice of one, two, and three bedroom units that range in size from 850 to 2,800 square feet. Six thousand square foot penthouses are also available and include private decks with lap pools. Condos are prices from approximately $2,000,000 to $25 million.
Located on the north end of South Beach, The Setai offers luxury, resort-style living, and stunning views. Just minutes away from the nightlife and fine dining of South Beach.
Option #2 South Beach Condo Conversions
With the rising popularity of condominium living, some Developers have opted for condo conversions rather than build a brand new property. Real Capital Analysts, Inc, a New York-based research firm, estimated that sales of condo conversions more than doubled last year, going from $11 billion in 2004 to approximately $28 billion in 2005.
Though these made not be as luxurious as “built from the ground up” condominiums, they are often given luxury upgrades such as stainless steel appliances, granite counter tops, and top of the line carpet, window treatments, and fixtures.
Condo Conversions are excellent for first-time buyers and single professionals.
The Flamingo South Beach is a prime example of why condo conversions are so successful and popular.
With 1,689 units in three towers, The Flamingo South Beach is set to become one of the largest condo conversions in Florida. Prices will range from the $200,000's to the $700,000's for these studio, one, two, and three bedroom units. Square footage ranges from 504 to over 2000 square feet.
Conveniently located just minutes from the McArthur and Venetian Causeways, The Flamingo South Beach views of the ocean and Biscayne Bay are spectacular.
Reservations for these units are expected to begin this month, with actual sales beginning in April.
Option #3 South Beach Condo Hotels
Last but not least, there is the most recent trend in condo living – the condo hotel.
Often managed by a well-known, well-respected hotel chain such as Hilton or Ritz-Carlton, condo hotels are popular among those who are looking for either a second home or a vacation home.
When you purchase a condo hotel, you have the option of participating in a rental program overseen by the in-house management company. If your unit is rented, the management company shares the income earned on your condo unit with you. In addition, the management company cleans and maintains your unit while you're gone, alleviating the stress of finding someone reliable or having to return and do it yourself.
Unlike a time-share, where you're buying a specific block of time, purchasing a unit in a condo hotel means that you can rent it out, stay in it, or sell at your own discretion.
W Condo Hotel - South Beach
A name that's synonymous with chic, hip, and elegant.
Spacious rooms with modern design and décor put the W Condo Hotel in a class by itself.
When completed, the W South Beach will be 19 stories of 511 units designed and decorated by Yabu Pushelberg and Costas Kondylis of Kondylis & Partners. These units will look and feel like home. Studio, one, and two bedroom units, will range in size from 600 – 1200 sq. ft., and in price from $800,000 to $5 million.
Some amenities include: private beach access, two outdoor pools, wired and wireless business center, multi-lingual staff, foreign currency exchange, two gourmet restaurants, 24/7 room service, wellness spa.
Purchased in 2004 by the Falor Companies, this elegant, art deco-style hotel is being converted to a condo hotel. It's 10 stories and 45 units will undergo minor construction and updates, and are expected to be completed in the Spring. Suites will range in size from 539 to 667 sq. ft, and all of them will have ocean views. Prices will range from the $900,000's to just over $1.1 million.
Billed as a "boutique hotel", The Tides will offer the same luxury living as larger condo hotels, but in a more individualized and personal setting.
The Setai - South Beach
Part of the Setai Resort, the condo hotel offers eight stories of up to 1000 sq. ft. rooms, and access to all of the resort's amenities.
The decor and attention to detail at the Setai are unparalleled. Three restaurants, 24/7 room service, state-of-the-art fitness center, pools, private yacht charters, a spa and more are available to all guests and residents. Combine the first-class amenities with spectacular views of the beach and the Miami skyline, modern art deco decor, and a first-class staff and you've got a home away from home.
Prices for these units will range from $800,000 to $3 million.
With over 14 years experience between the two, Paul and Carole have the knowledge and experience to help with all of your Miami real estate needs. Carole is a native of Miami Beach and Paul has made Miami home for the last 15 years. They have both seen and experienced the dramatic changes that have taken place in the Miami real estate market over the last several years. This knowledge of the real estate market makes them the perfect choice whether you are looking for a primary residence, second home, investment property or pre construction opportunities. With millions of dollars of closed transactions, they have the experience to avoid the pitfalls of buying and selling real estate. Visit http://www.hansenhomesaventura.com for more information on South Beach real estate.
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