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Miami Category

Owners of Bal Harbour Shops Partners with Brickell CitiCentre

January 31st, 2013 Written By Carol Pawley

The owners of Bal Harbour Shops are partnering with Swire Properties on Brickell CityCentre. The Whitmans will make a “significant” equity investment in the retail portion of Brickell CityCentre and serve as co-developer with Swire Properties, which will remain the majority owner of the $1.05 billion urban shopping and mixed-use development. Both developers will equally share responsibility for all phases of the 520,000-square-feet of retail, from leasing to marketing. Financial terms of the agreement were not disclosed. Swire will still handle the office, hotel and condo components of the project. Brickell CityCentre expects to devote about 40 percent of its retail space to luxury retailers. The rest would be a mix of the type of upper moderate or premium retailers found at up-market malls like Aventura and Dadeland. Plans also include a department store and concentration of restaurants and entertainment. Brickell CityCentre is planned to open sometime in 2015.

Click here to read more about this partnership.

 
Throughout the years I have helped many friends and clients purchase or sell property throughout Miami.  If you are interested in purchasing or selling a home, please contact me as I can give some first-hand sound advice with no pressure.  Please send me an email at carolapawley@gmail.com or call me at 305-992-6188. 
 
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Miami-Dade County Inventory & Sales 2002-2012

January 30th, 2013 Written By Carol Pawley

In 2012 more properties sold than in any other year. Inventory continues to decline while prices are beginning to creep up. 66% of all sales in Miami-Dade County were cash with 40% being international buyers. Here is a graph and chart showing Miami-Dade sales and inventory from 2002-2012.

 
I keep up to date on the market.  I make sure my clients are well informed so they make the best decisions when buying or selling their home. Please send me an email at carolapawley@gmail.com or call me at 305-992-6188 if you are interested in buying or selling a home in Coral Gables.
 
 
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Miami Condo Prices Up 30%

January 11th, 2013 Written By Carol Pawley

In the fourth quarter the median price of condominiums in Miami increased 30.1%, with total sales activity reaching its highest fourth quarter levels since 2006. Miami’s condo sales activity rose 9% to 3,178.  According to a report by the New York-based appraisers Miller Samuel a total of 5,206 units transacted in the final three months of 2012.

Miami’s single-family market showed the most activity, with a 22.8% jump in sales to 2,028 in total. 

Within the luxury market, which represented the upper 10% of all sales, the median condo sales price was $1.18 million, up 32.6% from a year ago. On the single-family side, the median sales price was $1.4 million, a 30.1% increase.

The distressed market also showed a 3.4% increase in condo sales prices and a 12.8% increase in single-family home prices.

Franck Dossa, a broker at Condhotel in Miami, said that, with continued price increases and dwindling inventory, Miami could soon see prices surpassing the peak of 2006. “We’ll continue to see the prices going up for the next five years,” he said. “It will be more expensive than 2006 very soon.”

Throughout the years I have helped many friends and clients purchase or sell property throughout Miami.  If you are interested in purchasing or selling a home, please contact me as I can give some first-hand sound advice with no pressure.  Please send me an email at carolapawley@gmail.com or call me at 305-992-6188. 
 
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New Year’s Eve Dinner Options

December 27th, 2012 Written By Carol Pawley

With New Year’s eve fast approaching I decided to write about all the different dining options available in Miami for New Year’s Eve. You will find everything from fancy buffets to six-course meals, from South Beach to Aventura to Doral and everywhere in between.

  • 1500 Degrees at Eden Roc. NYE Dinner at 1500 Degrees: Enjoy a four-course meal with dishes like creamy sunchoke bisque with shaved winter truffles, pasta with Maine scallop and spiny lobster with uni butter sauce, roasted Monkfish with crispy rice croquettes, collards and Zellwood creamed corn, and warm chocolate cake with orange marmalade. Mon., Dec. 31, 6 p.m. $90. 4525 Collins Ave., Miami Beach, 305-674-5594, 1500degreesmiami.com.

 

  • 660 at the Angler’s. New Year’s Eve Gala: First seating starts at 6 p.m. and includes a three-course meal with options such as lobster bisque, stuffed dates and Manchego cheese roasted pork loin, and chocolate tres leches for $100. For $150, the second seating, which begins at 9:30 p.m., includes a five-course meal that starts off with a sweet pea shot, scallops tiradito, compressed watermelon, dulce de leche, pinenut crusted rack of lamb, and peach and blueberry cobbler. Mon., Dec. 31, 6 & 9:30 p.m. $100-$150. 660 Washington Ave. (at The Angler’s Boutique Resort), Miami Beach, 305-534-9600, theanglersresort.com.

 

  • 94th Aero Squadron Restaurant. NYE Gala Party: All you can eat buffet, open bar, party favors, midnight champagne toast, and entertainment provided by a live band. Reservations required. Call 305-261-4220. Mon., Dec. 31, 9 p.m.-2 a.m. $65-$125. 1395 Northwest 57th Ave., Doral, 305-264-2143, 94thmiami.com/94thmiami/.

 

  • Acqualina. NYE at Acqualina: Celebrate New Year’s with “An Evening on the Mediterranean” including dinner, dancing and celebration. Dine from Mediterranean-inspired food stations with the option of an open bar, or stick around the pool for a pool party with open bar and a live DJ. Mon., Dec. 31, 9 p.m. $95-$295. 17875 Collins Ave., Sunny Isles Beach, 305-918-8000, acqualina.com.

Read the rest of this entry »

The Junior Orange Bowl Parade December 31, 2012

December 27th, 2012 Written By Carol Pawley

The signature event of the Junior Orange Bowl International Youth Festival! Hundreds of children and young people take to the streets of Downtown Coral Gables in this celebration of active youth and community! The Junior Orange Bowl Parade is a 64-year tradition in South Florida created especially for the kids — and perfect for families. Featuring a vivid arrangement of marching bands, colorful floats, community groups and creative parade units, this Junior Orange Bowl Parade is a dazzling spectacle that is not to be missed and certainly won’t be forgotten.

Theme: “Sailing to New Adventures!”

Date: Sunday, December 30, 2012

Where: Downtown Coral Gables

Time: 4pm

Click here for more information

Coral Gables 2012 Holiday Spectacular

December 6th, 2012 Written By Carol Pawley

This Friday December 7, 2012 is Coral Gables Holiday Tree Lighting. Celebrate the holiday season with the City of Coral Gables. The Holiday Spectacular will include pictures with Santa, children’s activities, rides, food, music, performances and of course the lighting of the Christmas Tree & more. The fun takes place at Merrick Park (across from City Hall) 405 Biltmore Way from 5:00 pm – 10:00 pm with the tree lighting at 7:00 pm. 

Here is the schedule of  activities:

5:00 – 10:00 pm Ongoing:  Carnival Games, Carnival Rides, Face painting, arts & crafts, food

5:00 – 5:30 pm:                  Broadway Musical Theater

5:30 – 6:15 pm:                  Maria Verdeja School of the Arts

6:15 – 6:50 pm:                  Actors’ Playhouse Children’s Theatre

7:00 – 7:15 pm:                  Tree Lighting Ceremony & Arrival of Santa

7:15 – 7:45 pm:                  Jeff Kipperman Quartet from UM Frost School of Music

7:30 – 10:00 pm:                Pictures with Santa Claus

7:45 – 8:15 pm:                  Italian Program from Carver Elementary and Middle School

8:15 – 8:45 pm:                  Center Stage Dance Center

8:45 – 9:15 pm:                   MAD Dance Show

9:15 – 9:45 pm:                   Miami Children’s Theatre

For more information call 305-460-5600

If you would like more information on events happening in Coral Gables, please contact me at (305) 992 6188 or email me at carolapawley@gmail.com 
 
 
 
 
 
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How Latin Americans Helped Miami’s Real Estate Market

November 28th, 2012 Written By Carol Pawley

Latin American buyers have helped saved Miami’s real estate market. Brokers across South Florida link Latin Americans, especially Brazilians, paying cash for perceived condo bargains as the single biggest driver of the market.  35% of all foreign buyers in Florida have come from Latin American countries in 2012.

Michael Sadov, director of sales at Canyon Ranch Living Miami Beach, said, “I think they’ve kept our entire real estate market alive. “If we didn’t have the South American influx, I do not believe you’d see the absorption of the real estate that happened. I think they were monumental for us.”

Latin Americans represent a great amount of the $10.7 billion foreign buyers brought in Florida sales from 2011-2012 and the greater part of buyers in the condo market in Miami are from Latin America.

“They came in with a lot of buying power, and we’re basically pretty inexpensive compared to major markets in Europe or even in Brazil,” said Nathan Zeder of Esslinger-Wooten-Maxwell’s Zeder Team in Coral Gables. “Consequently, with their strong currencies and much lower prices, they were able to absorb the inventory inexpensively. Compared to beachfront condos in places like Rio de Janeiro, Miami represented a relative bargain”, he said. “From my understanding, the good areas in Brazil are in excess demand, and they’re probably $2,000 to 3,000 a square foot for the really high-end areas,” Zeder said. “The best areas in Miami were [in 2010 and 2011] around $1,000. They’ve gotten higher, but at the bottom of the market, you could pick up fantastic units and you’d be paying under $500 a foot.” You’re seeing Brickell preconstruction projects being sold out, and it’s all South Americans,” Zeder said. “It’s all cash. “It’s a great indicator that foreign buyers are driving this whole new wave of construction — without foreign buyers, I don’t think we would have 12 towers under construction,” said Zeder.

The Latin American buyers are so affluent, with cash in hand. They are mainly looking for either a second (third or fourth) homes or investment properties.

Canada was the second largest demographic.

Throughout the years I have helped many friends and clients purchase or sell property in Miami .  If you are interested in purchasing or selling a home, please contact me as I can give some first-hand sound advice with no pressure.  Please send me an email at carolapawley@gmail.com or call me at 305-992-6188. 
 
Click Here to Get Miami Real Estate and Beyond by Carol Pawley delivered by email

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