Shortage of Waterfront Beach Condos in South Florida

Scarcity of beach properties for sale in South Florida.

Prices of refurbished 40 years old buildings are going through the roof. We, realtors, see it every day.

New developments are scarce, and most of them are for the super rich.

We are talking starting prices of 2 million for relatively small units. 

The Apogee Beach a couple of years ago was a timid attempt by a developer and the results were so stunning that in no time every piece of available dry land in Sunny Isles Beach, Hallandale, Hollywood, had a large project humming. They also sold quickly. 

The Sage Beach, the Beachwalk, the Regalia, Porsche Design, Jade, Acqualina, at different price levels have sold or are selling very well.

And when a client ask sme about “something new on the beach”, I have a real hard time finding a good option.

The one I still mention, because there still are a few units left is the HYDE BEACH. 

The remaining apartments are condo-hotel units. That means that they can be used by their owner for about half of the year, and must be put for rental the rest of the time. 

This can be a great solution as a vacation home, when a family or a person wants to use the place for a few weeks every year, and can put the unit in a hotel program where it will generate income to cover HOA fees, property taxes, and  perhaps produce some revenue, while its value will almost surely increase throughout the years due to its excellent location.

Let me tell you some more about the Hyde Beach, because in Hallandale/Hollywood, it is with COSTA HOLLYWOOD, the only pre-construction project I can think about at this time, on the beach side, this side of town.

HYDE BEACH - PRECONSTRUCTION PROJECT IN HOLLYWOOD

 

Location :  Hollywood Beach,

Total Units: 407

 Number of Floors : 41 stories

Project Description

  

Architect: Cohen, Freedman, Encinosa & Associate Architects

 Interior Design: TBD

 

HYDE BEACH - Unit Description: 

40 Condos (22nd – 41st floor/Flooring Included)

2 bedrooms/2 bathrooms: 1,380 sq. ft.

3 bedrooms/3 bathrooms: 1,870 sq. ft.

367 Resort Condominiums (Finished and Furnished)

1 bedroom/1 bathroom: 870 sq. ft.

2 bedrooms/2 bathrooms: 1,235 sq. ft.

2 bedrooms/2 bathrooms: 1,380 sq. ft.

(10th – 21st floors)

3 bedrooms/3 bathrooms: 1,840 sq. ft.

(10th – 21st floors)

Corner residences include direct ocean views and private elevators. 

All resort condominiums are completely finished and furnished. They may be rented daily, weekly, and monthly for a maximum of 150 days/year. 

 

HYDE BEACH  - Amenities 

 

Infinity edge ocean view pool, sundeck, and private cabanas

Room service available to all units

Housekeeping, cleaning and laundry services offered to all units

State of the art fully equipped fitness center with cardio theater overlooking the ocean 

 Health spa with men’s and women’s steam and sauna facilities

 Beach Club to include pool, spa services, and restaurant on the ocean

 Permanent installation of curated art collection throughout the building

 24-hour complimentary valet parking

 24-hour attended security services

 Personal Concierge Services 24/7

 High-speed Internet access

 On-site Property Management for short-term rental services 

 

HYDE BEACH  - Residence Features 

 40 Decorator Ready condominiums, two and three bedroom residences

 367 beautifully finished and furnished condominiums

 Wide private terraces with glass railings and unobstructed views

 Ocean views from almost every residence

 Energy efficient, tinted, impact resistant, floor-to-ceiling sliding glass doors and windows

 Advance Technology “Smart Building” pre-wired with fiber optics for high speed internet, data/voice cable TV access

 European Cabinetry in Kitchens and Bathrooms

 Imported stone counter tops 

Maintenance fees:   $ .95 cents/foot

HYDE BEACH - Deposit Structure:

 10% reservation (4th quarter – 2013)

 10% contract (1st quarter – 2014)

 20% groundbreaking (2nd quarter – 2014)

 10% top off (3rd quarter – 2015)

 50% closing (2nd quarter – 2016)

Henry B. Nathan is a South Florida Real Estate Agent

specialized in Pre-Construction Projects

 (800) 416-2747   (954) 296-6741

Email me: hbnathan@gmail.com

mentioning  HYDE BEACH   PRE-CONSTRUCTION CONDOS IN HOLLYWOOD

 Visit my websites: www.miami-new-construction.com
www.condo-southflorida.com
www.floride-immobilier.fr
www.inmobiliaria-miami.com
www.miami-imobiliaria.com
www.aventura-shortsales.com

  

Edgewater, Wynwood, Design District, Midtown ... Full speed ahead!

Who would have said twenty years ago? 

The Miami project cruises ahead.

And it seems as if there are many who believe in it.

How many of you have gone and given a look to these new unsuspected neighborhoods in formation ?

Worth a visit.  

The geography has been there all the time. 

We are just noticing that the bay doesn't end where we didn't use to go watch it!

MIAMI DEVELOPERS STORIES 

A Miner in Edgewater 

Oleg Baybakov, the Russian mining tycoon behind 700 Edgewater Development LLC, has amassed much of the property near the waterfront between Northeast 26th Street and Northeast 26th Terrace, in Miami.  His largest purchase came in February when he paid $21.5 million for the residential tower at 700 NE 26th Terrace.

The latest purchases involve four lots just east of that property. Baybakov paid an average of $271 per square foot for a combined 32,040 square feet in transactions that closed April 16 and 17, Miami-Dade County records show. As a result, his companies own all but the southwest corner lots of the 2.75-acre block facing Biscayne Bay.

Baybakov's plans for the properties have not been disclosed. The rental building at 700 NE 26th St. has been aggressively shedding tenants for years, and Baybakov's firm has in the past two months initiated eviction proceedings against three tenants. 

Reached Monday, the leasing agent for the building said there was just one apartment available for rent. A previous owner envisioned tearing down the 58-unit project built in 1980 to make way for a 39-story condo.

Baybakov's net worth has not been recently estimated by reliable media sources, but he is believed to be a multibillionaire. He is a frequent business partner of Mikhail Prokhorov, one of the richest Russians alive, telling the Wall Street Journal in 2010 he was a silent partner in Prokhorov's most famous American venture, the Brooklyn Nets professional basketball franchise…

In South Florida, Baybakov also has real estate holdings in Miami's Brickell neighborhood and Miami Beach.

Might These Edgewater Lots Just Bought For $10M Be Next Project For N.Y. Developer?

A New York company about to break ground on a Coral Gables multifamily project has bought land for its next big venture, snapping up a 1.04-acre assemblage in Miami's Edgewater neighborhood for $10 million.

A company linked to New York-based Greystone & Co. Inc., which finances and develops ventures across the country, paid $221 per square foot for the eight contiguous lots west of Biscayne Boulevard between Northeast 25th and 26th streets.

A Greystone spokeswoman said the company plans to develop the property with the same partners on the Coral Gables project but did not provide specific details on what would be built on the newly acquired site. The purchases closed Friday.

In Coral Gables, Greystone is partnering with Miami-based Alta Developers LLC and Strategic Properties Associates Group LLC to build a 119-unit, mixed-use project at 3622 Coral Way. That development was picked up for a similar proposal that was sidelined by the recession. That project breaks grounds Monday.

Greystone's Edgewater project would be their second recent venture in South Florida. The company also completed a health-care project, the Club Health and Rehabilitation Center at The Villages.

Alta and Strategic Properties, Greystone's partners, are managed by long-time South Florida real estate players Raimundo Onetto, Henry Pino and Patricio Ureta. Most recently, they worked together to propose Le Parc at Brickell, a sleek, 12-story tower in Miami's financial district unveiled in May.

 From Daily Business Review – April 28, 2014 

Henry B. Nathan is a Hallandale & Hollywood Real Estate Agent

specialized in Pre-Construction Projects

 (800) 416-2747   (954) 296-6741

Email me: hbnathan@gmail.com

mentioning

  PRE-CONSTRUCTION CONDOS IN MIAMI

 Visit my website: www.miami-new-construction.com