Category Archives: South Beach

FOR SALE-THE BENTLEY BAY CONDO- 540 WEST AVE. MIAMI BEACH

 

 

 

 

 

 

 

THE BENTLEY BAY CONDO
1 BEDS 1 BATHS
540 WEST AV Unit 1013
Miami Beach , FL 33139
RENTAL – A
MLS #: A1515001
Year Built: 2004
Square Ft: 777

Featuring brand new designer furniture, gorgeous white marble floors and all the upgrades you can imagine. incredible finishes, views for days, jacuzzi tub and more .. available short term or long, easy to show. For more details visit Howardchaserealestate.com. If you have any inquiries about about buying or selling real estate, please feel free to email howard@howardchaserealestate.com or call at (786) 566-3505.

HOWARD CHASE REAL ESTATE
P: 305 532-7470
F: 305.532-7471
E: howard@howardchaserealestate.com
Address:
1354 Washington Avenue Suite #220
Miami Beach, FL 33139

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Filed under South Beach

New 18-Story Condo Tower Planned For Ocean Drive Site In South Beach

By , Herald-Tribune
/ Friday, July 6, 2012

A private equity group is reviving plans to construct a condo tower on the famous Ocean Drive in the South Beach neighborhood of Miami Beach as the coastal market increasingly shows signs of recovering from the dramatic South Florida real estate crash that began in 2007, according to a new report from CondoVultures.com.

The proposed 120 Ocean Drive project – originally dubbed the Kallisto – is envisioned to be an 18-story condo tower with 10 units immediately north of the popular steak restaurant Prime One Twelve, according to the Preconstruction Condo Projects list from the licensed Florida brokerage CVR Realty.

The developer – a entity controlled by the Boston-based Congress Group – purchased the three-parcel site with a combined 17,250 square feet of land for $8 million in October 2005, according to Miami-Dade Property Appraiser records.

CondoVultures.com profiled South Florida new unit sales by project in the first quarter of 2012 in the seven largest coastal condo markets in the tricounty region of Miami-Dade, Broward, and Palm Beach counties.

Beginning the week of April 16, 2012, the Condo Vultures Market Intelligence Report published a seven-part weekly series that analyzing new condo sales trends in Greater Downtown Miami, South Beach, Sunny Isles Beach, Hollywood / Hallandale Beach, Downtown Fort Lauderdale and the Beach, Boca Raton / Deerfield Beach, and Downtown West Palm Beach and Palm Beach Island.

South Beach is a 24-block long neighborhood in the barrier island city of Miami Beach that stretches from South Pointe Drive north to 24th Street, the Atlantic Ocean west to the Venetian Islands, according to the Condo Vultures Official Condo Buyers Guide To South Beach.

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Filed under Condominiums, Luxury Properties, Miami Beach, South Beach

Vornado Realty Buys Lincoln Road Retail for $132M

By Jennifer LeClaire – GlobeSt.com

MIAMI—Vornado Realty Trust is on a major retail acquisition roll. Beyond acquiring 666 Fifth Retail for $707 million, the REIT also acquired a prime South Beach retail building just days ago.

Vornado Realty Trust’s 25% owned real estate fund, Vornado Capital Partners, just acquired 1100 Lincoln Rd., a 167,000-square-foot retail property in Miami Beach, for $132 million. 1100 Lincoln Road is the western anchor of the Lincoln Road shopping district .

Vornado could not immediately be for comment. But GlobeSt.com caught up with Carter McDowell, partner at Bilzin Sumberg and local counsel to Vornado on the Lincoln Road transaction.

“There is no doubt about it, Miami is hot right now and this transaction is further evidence of its viability as one of the most in demand real estate markets in the country,” McDowell tells GlobeSt.com. “This isn’t the last major deal that we’ll hear about in coming months and in fact, there are a number of large national REITs that are currently pursuing other properties on Lincoln Road and elsewhere across the region.”

1100 Lincoln Road is 97% leased. Principal tenants include Regal Cinemas, Anthropologie, and Banana Republic. The building also includes a 298-space parking garage.

Vornado disclosed that the $132 million purchase price was financed in part by a $66 million new mortgage loan on the property. The loan bears interest at LIBOR plus 2.75% and matures in July 2015 with two one-year extension options.

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Filed under Commercial Real Estate, Miami Beach, South Beach

Would you buy the house where Gianni Versace was shot?

The Miami mansion where Gianni Versace died is on the market.  But will the history of the house help or hinder its sale? Emma Rowley investigates the price of infamy.

Fashion house: Gianni Versace’s Miami mansion was as flamboyant as the clothes which still bear his name

By Emma Rowley – The Telegraph

Russian oligarchs, Middle Eastern royalty and Ecclestone sisters, get out your wallets. Gianni Versace’s sumptuous mansion is back on the market. Now used as a boutique hotel, Casa Casuarina in Miami Beach, Florida, has been put up for sale with a hefty £80 million price tag.

Whoever buys it will need to share the tastes of Versace, that is certain. The couturier spent millions transforming the 10-bedroom South Beach property into an Italian villa, complete with frescoes, statues and stained glass, ever ready for a visit from Elton and the like.

What all those involved are less keen to trumpet is that 1116 Ocean Drive is also where Mr Versace was shot dead on the steps in 1997. Could this tragic aspect of its past prove a problem?

This is not a prospect that would appeal to all. But then, whoever snaps up Casa Casuarina, where even the swimming pool is tiled in 24-carat gold, is unlikely to be a shrinking violet.

Read more here: http://www.telegraph.co.uk/property/9364511/Would-you-buy-the-house-where-Gianni-Versace-was-shot.html

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Filed under Celebrity Homes, Luxury Properties, Miami Beach, South Beach