Tag Archives: Ocean Drive

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

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