Michael Sahlman e-PRO - Miami Beach Florida Luxury Homes

Apogee Condos Miami Beach- South Beach Luxury Condos Report

Apogee South Beach currently has 15 condos listed for sale and is located at 800 South Pointe Drive in the South Beach area of Miami Beach. They range in price from $3.99 million for a 3 bedroom/3 bath condo with 3,100 SqFt plus over 1,000 SqFt of terrace to $22 million for the 7 bedroom/7 bath penthouse with 7,254 SqFt plus over 11,000 SqFt of terrace. The average list price is $7,682,600 at $1,792/SqFt.

Year-to-date there have been 6 closed sales at Apogee. Sales ranged from $3.4 million to $7.4 million at an average selling price of $4.74 million or $1,361/SqFt, which averaged 92% of the list price with average days on market of 79 days.

Note that the information here is based on recent information and data from the southeast Florida MLS, so it is subject to change based on market conditions and activity. Most of the information is input by real estate agents, so the accuracy cannot be guaranteed.

Copyright © 2008 By Michael Sahlman, P.A., All Rights Reserved.*Apogee Condos Miami Beach- South Beach Luxury Condos Report*

For more information about this property and real estate in South Beach, Miami, Miami Beach, Sunny Isles and the surrounding areas, please contact us at 786.553.0697, or email us. Visit our award winning website at www.HomesForVIPs.com. We are here to help you learn more about the different areas and to assist you in buying, selling or investing here in South Florida. As licensed Florida real estate agents, we are also certified as e-PROs and International Real Estate Specialists. We speak English, Spanish, Portuguese and French.

There are currently 27 waterfront homes for sale in Miami Beach on Star Island, Palm Island and Hibiscus Island. They range in price from $1.999 million on Palm Island for a 2,300 sf house on a 7,000 sf lot to $29 million for Shaquille O'Neal's previous home, which is 19,440 sf of living space on a 106,888 sf lot.

On Star Island there are 4 waterfront homes for sale; 10 homes for sale on Palm Island; and 13 homes for sale on Hibiscus Island. The homes on Star Island are on much larger lots usually starting at almost an acre. Many homes on Palm Island are situated on smaller lots of 7,000 square feet, however, there are several houses on larger lots and a few on lots of 14,000 square feet up to 30,000 square feet. On Hibiscus Island the homes are typically on lots of 10,500 square feet.

Based on 2007 Miami-Dade County Tax Assessments, land is valuedat $249 per square foot or $1.74 million for a 7,000 square foot lot. On Hibiscus Island, land is valued at $194 per square foot or $1,77 million for 9,057 square feet. On Star Island, land is valued at $190 per square foot or $9.17 million for 48,266 feet. Then again while Star Island may look less expensive, the parcels tend to be at least 40,000 square feet.

Note that the information here is based on recent data from the southeast Florida MLS so it is subject to change based on market conditions and activity. Much of the information is input by real estate agents, so the accuracy cannot be guaranteed.

For more information about this report and other real estate in Miami Beach, South Beach , Miami and the surrounding areas, please contact us at 786.553.0697, or email us. Visit our award winning website at www.HomesForVIPs.com. We are here to help you learn more about the different areas and to assist you in buying, selling or investing here in South Florida. As licensed Florida real estate agents, we are also certified as e-PROs and International Real Estate Specialists. We speak English, Spanish, Portuguese and French.

Several times recently clients have asked me how the monthly maintenance in one condominium compares to others in Miami Beach. Most full amenity buildings have monthly maintenance costs that vary between 50 to 70 cents per square foot of living space.

Always be sure ask is what the monthly maintenance includes. Some condos include electricity and air conditioning, so you want to be sure to subtract that out of the maintenance cost to arrive at the true monthly maintenance, which typically includes insurance for the common areas of the building and the amenities of the condo building (pool service, valet, property management, pest control, meeting rooms, gym/fitness room, spa, etc.). Obviously it differs from building to building depending on the amenities and services available.

In the newer, more luxurious buildings, the monthly maintenance is typically between 70 cents to $1.00 per square foot. In the Setai the average seems to be 1.80 per square foot. Other buildings like 1500 Ocean Drive, Fontainebleau ll, The Bath Club, The Continuum North and South Towers, Icon South Beach, Apogee, Bentley Bay, Il Villaggio range from 94 cents to $1.04 per square foot for monthly maintenance. The Blue and Green Diamond condos seem to be among the lowest among the newer buildings (built after 1990) at 58 cents per square foot, and the Murano Grande, Portofino Tower, Mosaic, Murano at Portofino and South Pointe Towers range between 69 cents to 80 cents per square foot.

There are a number of older oceanfront buildings on Collins Avenue on Millionaires Row, especially between 50th Street and 65th Street that have monthly maintenance charges below 50 cents per square foot, however, make sure that these buildings there are no major assessments coming or in process, and remember caveat emptor (buyer beware). Keep in mind is that down the road all buildings require repairs and if there is no money set aside, there will be a special assessment that can range from $3,000 to $30,000 per unit. It all depends on the repairs and the number of units in the building. Many buildings have reserve funds, so it is a good idea to educate yourself beforehand, so you know what to expect later on. Often times you get what you pay for.

Note that the information here is based on recent data from the southeast Florida MLS so it is subject to change based on market conditions and activity. Much of the information is input by real estate agents, so the accuracy cannot be guaranteed.

For more information about this report and real estate in South Beach, Miami, Miami Beach, Sunny Isles and the surrounding areas, please contact us at 786.553.0697, or email us. Visit our award winning website at www.HomesForVIPs.com. We are here to help you learn more about the different areas and to assist you in buying, selling or investing here in South Florida. As licensed Florida real estate agents, we are also certified as e-PROs and International Real Estate Specialists. We speak English, Spanish, Portuguese and French.

NORTH BEACH NEIGHBORHOOD INFORMATION

Geographic boundaries are considered to be north at 87th Street (Surfside begin at 88th St.) and Collins Avenue and south at 63rd Street & Collins Avenue; east is the Atlantic Ocean and west extends out to Normandy Isles and Biscayne Point, which both border on Biscayne Bay.

There has been and continues to be a movement here to preserve historic architecture, which includes Miami Modern style form the 1950's and Art Deco from the 1920's. Several neighborhoods in North Beach have been recently nominated to be added to the National Register of Historic Places, including the Normandy Isles Historic District.

Convenient, quiet residential neighborhood with many benefits near everything.The North Beach neighborhoods are all conveniently located within a half mile from the beach except for Normandy Isles and Biscayne Point, which are between one and one and a half miles away. The neighborhoods have several top restaurants nearby, which include many different types of cuisine - Thai, Italian, French, Brazilian, Argentine, Columbian, Chinese and Japanese. The Miami International airport is 20 minutes away; and South Beach and Bal Harbour 10-15 minutes away.

Canyon Ranch, one of the premier wellness centers and health spas in the U.S., is opening its new 6 acre center complete with a hotel and condos on Collins Avenue between 69th Street and 67th Street later this year. The Normandy Golf Course is an 18-hole public course that will be completed within the next year. A couple of years ago the North Shore Park and Youth Centerwas completed, a multi-million dollar complex with many programs for people of all ages. It includes 12 tennis courts, a couple of baseball diamonds, a gymnasium, a game room, a teen center, a dance room and an auditorium. The North Shore Bandshell offers several free concerts each year.

The North Shore Park, which stretches about a half mile from 79^th street to 87^thstreet on the beachside of Collins Avenue, offers pedestrian walkways, barbecue and picnic areas, several grassy areas, exercise routes and stations and numerous benches seating areas. Oleta River State Recreation Area(commonly referred to as Oleta Park) has 993 acres and is the largest urban park in the state. Located on Biscayne Bay in northeast Dade County, the most prominent natural feature of the park is the Oleta River, for which the park is named.

To learn more about the area, its plans and development, please visit the following websites:

•· http://web.miamibeachfl.gov/residentsportal/

•· www.miamidade.gov

•· http://web.miamibeachfl.gov/planning/scroll.aspx?id=25706

•· http://www.floridastateparks.org/oletariver/default.cfm

•· http://web.miamibeachfl.gov/parksandrecreation/prNSPYClnf.aspx

For more information about this area and Luxury Real Estate in Miami Beach, Fisher Island, Sunny Isles Beach, Key Biscayne, Miami and the surrounding areas, please contact us at 786.553.0697, or email us. Visit our award winning website at www.HomesForVIPs.com. We are here to help you learn more about the different areas and to assist you in buying, selling or investing here in South Florida. As licensed Florida real estate agents, we are also certified as e-PROs, International Real Estate Specialists and Certified Distressed Property Experts.

I discovered Aqua over five years ago at a party thrown by the developer before ground had been broken. At the time I was not paying a lot of attention to the project, but was enjoying the party. I discovered it again a few years ago when I realized it might be a good fit for a client of mine who wanted a nice condo, which did not fit the mold of a conventional condo building. The other attractive features are that it is a gated 8-acre community in Miami Beach and the product of several of the top architects in the country, as well as that of the developer.

Aqua is a community consisting of 105 condos in 3 separate buildings and 46 town homes, which range from about 3,000 square feet and up. The designs are very eclectic and in many cases quite ingenious. Ultimately, it comes down to personal preferences, taste and lifestyle.

There are a lot of amenities here at Aqua including two pools, hot tubs, a large gym and spa, a convenience store, a lot of water surrounding the community and the proximity to the beach. You can walk there in less than 5 minutes.

Prices range from about $500,000 for a condo with not much of a view to over $3 million. Right now there are a couple of short sales and bank foreclosures that are attractive buys.

For more information about Aqua and real estate in Miami Beach, Miami and nearby areas, contact us at 786.553.0697 or email us. Visit our award winning website at www.HomesForVIPs.com. We are here to help you learn more about the different areas and to assist you in buying, selling or investing here in South Florida. As licensed Florida real estate agents, we are also certified as e-PROs, International Real Estate Specialists and Certified Distressed Property Experts.

Aqua on Allison Island. Aqua is on the southern half of the island. This photo shows the view looking north up the Intercoastal Waterway.

Great view of the Intercoastal waterway. On the right side are the houses that make up Millionaires Row.

The town homes of Aqua on Allison Island and the Intercoastal Waterway in Miami Beach.

The quiet community of town homes and condos at Aqua on Allison Island in Miami Beach.

An aerial photo of Aqua and the neighborhoods in Miami Beach to the west of it including Biscayne Bay and Miami - the mainland.