We’re calling this “Iluminada” because of the phenomenal collaboration of glass, natural light, and soaring ceilings. The home was built in 2008, and a gorgeous renovation took place in 2014. This gated residence is bar none the epitome of luxury, sensibility, and comfort, and so are the separate guest house, gym, and housekeeper’s quarters!
The finishes are exquisite, the ArcLinea kitchen is over-the-top, the Brazilian IPEI solid wood floors are breathtaking, and the architectural nuances are fabulous. Come see for yourself! Website and floor plan will be up shortly!
• 7 Bedrooms | 7 Baths + 2 Half Baths
• 8,921 Adj. Square Feet / 39,204 Square Foot Lot
• List Price: $5,495,000
Learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, by contacting Val Byrne at email@example.com or at 305-323-6231. Val Byrne – Working For You!
Brief background: In the 1980’s Miami-Dade County Public Schools established “Controlled Choice,” a system whereby the school system selected the school that a student would attend. It was intended to desegregate the schools.
Fast forward to 2015 and Coral Gables is the county’s only remaining city to have Controlled Choice, with Coral Gables Preparatory Academy, George Washington Carver Elementary, and Sunset Elementary Schools being the lone survivors and topic of debate. Today Commissioners will meet with the Miami-Dade County School Board where the Attendance Boundary Committee is expected to vote on the issue. That recommendation will be given to Superintendent Alberto Carvalho, who will make the final decision.
Of course there is debate on all sides, some preferring their children to attend the neighborhood school, and others believing the schools are not equal and perhaps another route is best, but at the very least they want more time to investigate. Apparently, the parents were made aware of the proposal with only 4 days remaining in the 70-day review process.
From a realtor’s perspective: try explaining Controlled Choice to an international Buyer. I sell a lot of properties in Coral Gables, Coconut Grove, and South Miami, and the Buyers don’t always ‘get it’ or like it. One recent example: Buyer wants to live in the Dante Fascell Park area of South Miami (west of Red Road), but wants to reside east of SW 59th Avenue so they can be in the Coral Gables school district (and attend Sunset Elementary School). I had to tell them that with the Controlled Choice system their children could be placed in one of the other 2 schools, which logistically are much further away. Parents are working in the Dadeland/Datran area and now the children may have to go to elementary school in the north Gables (Coral Gables Preparatory Academy). They will probably opt out of the public school arena. Let’s see what happens today!
The Edgewater area has blossomed within the past few years into a wonderful pedestrian friendly community. Centrally located, Edgewater is just north of Brickell and Downtown Miami, south of the beautiful Design District and Midtown, and a short drive away from Miami Beach, Coral Gables, and Coconut Grove. Many companies have been fighting for a retail spot in the area. The Real Deal reports, “Developer Fifteen Group has recently unveiled plans to renovate the historic First Church of Christ,” leading to the speculation that Trader Joe’s could be a prospective tenant. The square footage and location match within Trader Joe’s criteria. Publix, located a block away on 17th and Biscayne Boulevard, opened up in 2012 and became one of the busiest stores within the chain in no time. I’m sure Edgewater residents would be thrilled to welcome another grocery store to their community, a little competition is always good!
So many exciting new projects underway for Edgewater it’s hard to keep track! The foundation for the first tower at Paraiso Bay has just been poured by Related Group, almost a month after receiving their $93 million construction loan for the four tower luxury complex. The complex will host 1,300 residences, each with Bay views, private elevator and foyer, 9 foot ceilings and large balconies. The Related Group also plans on extending the project by creating a luscious waterfront park open to the public. I have to ask, can any park be as beautiful as Margaret Pace Park? That gorgeous, dog-friendly, expansive park along Biscayne Bay in front of 1800 Club, Quantum on the Bay, Cite, and Paramount is one-of-a-kind, and will be hard to beat. Love it!
What do the UM, Miami-Dade County Mayor Carlos Gimenez, the Dade County parks, public works and transit departments, and the Mayors of Miami, Coral Gables, and South Miami have in common? They are avid supporters of Meg Daly’s “Underline” dream of transforming the existing, practically unused paved path that runs from Brickell to Dadeland (under the Metrorail), into a beautiful, functional, wildly successful linear park for cyclists and pedestrians.
‘Friends of the Underline’ see gardens, parks, and playgrounds connecting neighborhoods, schools, and workplaces. Meg’s genius vision + tireless grassroots effort will not only give Miami another layer of outdoor living, but it will make it possible for kids and adults to walk or cycle to work, play, and school SAFELY. Can you imagine what a boost the Underline will give the Metrorail? OMG, why isn’t everyone taking the Metrorail to the American Airlines Arena, Perez Art Museum, and the Corporate Run? What if we all walked the Underline and hopped on the Metrorail to get us most of the way to Art Basel and Wynwood? It took me nearly 2 hours to get into the Miami Beach Convention Center this year.
As a realtor primarily selling homes in Coral Gables, Coconut Grove, South Miami, Pinecrest, and Palmetto Bay I spend A LOT of time in my car and that means a lot of time on US1. I am so excited to watch the transformation of that space; it will be such a joy to look over and see a beautiful, vibrant, happy scene under the Metrorail, and I can’t wait to walk on it!
PS, before Meg Daly fell off her bike, broke her elbows, rendered herself unable to drive and had to get to physical therapy in the Grove via Metrorail and walking (that’s where she brainstormed the Underline/formerly Greenlink), she was a marketing whiz at EWM Realty International. Thank you so much Meg for your vision, energy, and spirit! Good luck to the five design teams competing to design the masterplan for the Underline: Balmori Associates, Dlandstudio, and James Corner Field Operations, all from New York, Perkins + Will, and Stoss, from Boston.
Did everyone read last week’s Business Monday cover story about Miami being a leading luxury capital of the world? It was a WOW moment for Miami where we were defined as “a cosmopolitan playground for the world’s wealthy,” “the American Riviera,” and “a magnet for capital and people from all over the world.” To put it in perspective Miami is:
- No. 7 of 10 top markets globally according to Wealth Report real estate
- No. 9 of 10 in luxury real estate markets according to Christie’s International Real Estate (Cote d’ Azur, London and Miami are the world’s most popular second homes)
- No. 9 globally and No. 2 in the United States in sales of Krug Champagne
- No. 1 globally in sales of Vilebrequin swimwear
- No. 2 in the United State in sales of Audemars Piguet watches
- Way the heck up there in world-wide sales of Breguet watches, Ferragamo shoes & accessories, Burgess Yachts, and Maserati cars
So those are some light-shedding statistics on this great city that I have called home all of my life and sold real estate in for 20+ years (specializing in Coral Gables, Coconut Grove, South Miami, Pinecrest, & Palmetto Bay). The most amazing characteristic of Miami is how resilient we are, and how quickly we recovered from the ‘dark days’ which were darkest in 2007 & 2008. By 2009-2010 we were well on our way to recovery, and 2014 was a record year for real estate sales in both luxury ($1mil+) and non-luxury real estate markets.
You can track the inventory and sales of luxury and non-luxury real estate in Miami for the last 12 years on the two graphs below (click on graph for enlargement):
I have clients coming to Miami this month who want to buy a condo in Coconut Grove but can’t afford nor wait for Park Grove to be completed. I adore Park Grove but we have to remember there is life beyond that site! Architectural styles change and building popularities ebb and flow, but panoramas of sunrise, sunset, Sailboat Bay, and downtown Miami remain constant. Where does one go when they want to be a condo-wheeling Grovite before 2016-17?
There are five properties for sale between $1.6 mil and $8.750 ranging from 1,750 sf to about 6,900 sf. Ugo Colombo completed this majestic 32-story tower in 2006 and it still reigns in my eyes as the king of South Bayshore Drive.
Ritz Carlton Tower Residences & Executive Residences
The ‘Ritz’ is the benchmark for luxury and elegance and between the two Ritz Towers there are four units for sale between $970,000 and $2.350 mil, ranging in size from 1,560 sf to 4000 sf.
It was the bomb when it debuted in 1975 and this Ken Treister classic is still one of my favorites. They just finished the 40 year re-certification at Yacht Harbour and with it came new balconies and a completely fresh face at poolside. There are 4 great units available right now and 2 of them, in the coveted “A” line, have direct views of Sailboat Bay for $799,000 and $675,000.
The views from Grove Isle are endless, and so is the resort lifestyle: hotel, spa, tennis courts, marina, and restaurant – it’s all grand on this private island. Between the 3 buildings there are 10 two and three bedroom units for sale right now between $675,000 and $1.45 mil.
Mutiny Hotel & Condo and Mutiny Park Sonesta Condominium
The Mutiny Hotel located at 2951 S. Bayshore Drive, and Mutiny Park Sonesta Condominium located at 2889 McFarlane Road have a diverse range of inventory beginning at $219,000 and reaching as high as $1.5mil. Both properties appeal to the Coconut Grove investor and periodic visitor who values the hotel/condo platform allowing short and long term visitors.
There are other fabulous buildings in the Grove to consider but there isn’t much for sale in them at the moment. Always on my radar are the Residences at Vizcaya, Grove Hill Tower, Beacon Harbour, Grove Towers, and Mayfair Lofts. Without a doubt, the selection of condominiums in Coconut Grove is as diverse and eclectic as the people who live there.
List Price: 1,375,000.00
4 Bedrooms | 3 Baths
My first closing in 2015 was one of my favorite homes listed in 2014! The house was a classic 1990 built with a mix of Florida Vernacular and Modernism, and spanned a beautiful 14,700 SF lot.
There was no one living at the property and no furniture inside when we listed it, so first on the agenda was transforming this already great house into a “home”. With the help of Jenny McCloskey Staging 515 San Antonio was furnished and accessorized into a magazine quality work of art! We had 3 offers come in and so many other interested parties. I congratulate both the lucky Buyers and Sellers and thank Jenny for a fabulous staging presentation!
Zillow released its rent report this week noting an increase in the South Florida rental market in 2014. 775,000 South Floridian renting-households spent $10.5 billion in rent last year. There was a 7.7% increase in the rental market from the year prior! Read more at The Real Deal.
I personally had 17 rental transactions ranging from $1,900 per month to $8,700 per month in Coral Gables, South Miami, Coconut Grove, Pinecrest and Palmetto Bay in 2014; that was almost double the number of transactions I had in 2013! If the first week of 2015 is any indication of this year’s rental market, South Florida will continue the momentum; it is January 6th and I have 3 rentals transactions slated in Coral Gables and the Brickell corridor.
If you or someone you know would like to rent or list a property for rent in Coral Gables, South Miami, Coconut Grove, Pinecrest, Palmetto Bay or the surrounding areas please call me!
Here’s a look at some of my 2014 rental transactions:
The Real Deal has published “What top Miami developers are predicting for 2015.” In a nutshell the fresh and out-of-the-box thinkers at Grass River Properties are entrenched in the Miami facts that have always driven our economies: Miami appeals to major onshore institutional investors, private equity, and international investors. We attract Latin Americans looking for flight capital and safe haven. We are a magnet for Europeans looking for lower tax bases and better climate, and Northeasterners who have always fled south for warm weather are drawn to our no state tax status. Tom Roth, principal at Grass River Properties, says all of this combined with the residential options and vibrant lifestyle that has evolved in the last 15 years will drive the residential, retail, and office markets in Miami.
Jacob Roffman, principal at 13th Floor Investments and developer of 1010 Brickell, sees young professionals and international investors shaping the residential market in 2015. The young professionals moving in the direction of urban sensibility have driven development investors to these core urban areas. Roffman sees foreign demand for ‘for-sale’ products moderate as it becomes increasingly difficult to move capital out of foreign countries.
According to Don Peebles, we are going to see continued strength in the luxury condos and the development of luxury condos for rental housing as the gap in the cost of rent and the cost of ownership narrows.
Nitin Motwani, developer of Paramount Miami Worldcenter in downtown Miami, believes in those developments with active sales and marketing infrastructures, strong sponsors, and a unique experience or location will be in high demand (that defines most of the developments I have interest in!).
Ron Krongold (Gold Krown Financial) sees the Miami market leveling out as our inventory increases to seven, eight, and nine months of supply (six months is considered the healthy ‘ideal’). At EWM Realty International we have seen the first signs of inventory increasing but demand in all markets is still extremely strong, and well-priced properties are moving quickly.
Hans Huseby, proprietor of FootWorks, father of the Mercedes Benz Corporate Run, a fixture in South Miami for the past 40 years, and THE most wonderful man passed away this past Saturday. So wonderful and loved was he that Sunset Drive from Red Road to SW 59th Avenue was closed last night just to have the space needed to celebrate his life. In the true spirit of Hans Huseby it was styled as another ‘event’.
I bought my first pair of running shoes from Hans in the 1980s, my first “Life is Good” shirt from him in the 1990s, and my children got their first Crocs from him in early 2000. I not only sell real estate in South Miami but am part of the wonderful family of South Miami residents, and FootWorks and the Huseby family are part of the landscape. Their famed “South Miami Twilight Run,” which is the right of passage into summer, brings everyone in my neighborhood outside; whether you run, walk, or just water everyone down who comes by.
Hans’ son, JP, summed him up best: “He was perfect in every way, more loving and compassionate and hard-working than anyone I’ve ever known.” His wife, Laurie, added that “He was ridiculously nice to everyone and made life better for so many people.” I think those are the true definitions of SUCCESS.