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The Underline Is Going To Be Top-of-the-Line! Thank You Meg Daly!

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, Underline logopractically 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.

Underline Rendering 2Underline Rendering

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!

Meg Daly

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.

 

To learn more about real estate in Coconut Grove, Coral Gables, South Miami, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

All Eyes Are On Miami!

EWM

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):

Over 1 Mil

All

To learn more about real estate in Coconut Grove, Coral Gables, South Miami, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

The Buzz on Condos in Coconut Grove! There’s Life Beyond Park Grove…

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? 

Grovenor House

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.

Grovenor House, 2627 S. Bayshore Drive

Grovenor House, 2627 S. 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.

Ritz_Carlton_Coconut_Grove

Ritz Carlton Tower and Ritz Carlton Executive Residences, 3400 & 3350 SW 27th Avenue

Yacht Harbour

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.

View from Yacht Harbour, 2901 S. Bayshore Drive

Grove Isle

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.

Grove-Isles-1

Grove Isle, 1, 2 & 3 Grove Isle Drive

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.

mut

The Mutiny Hotel & Condo, 2951 S. Bayshore Drive & Mutiny Park Sonesta Condominium, 2889 McFarlane Road

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.

To learn more about real estate in Coconut Grove, Coral Gables, South Miami, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

Miami Real Estate 2015….Words of Wisdom from the Wise Guys!

Developer-predictions-collage

From left: Ron Krongold, Nitin Motwani, Don Peebles, Jacob Roffman, Tom Roth

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.

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

How Does the Recent Waterfront Sale on North Bay Road Compare to Coral Gables and Coconut Grove Waterfront Property? Hmm…

A1927296_101_12

5840 North Bay Road, Miami Beach

A magnificent “builder’s acre” (37,895sf) on tony North Bay Road just closed for $15,250,000 (asking price $15,900,000, listed in February, 2014). What the Buyer will do with the existing 6 bedroom/5 bath home, circa 1929, remains to be seen but all are guessing that it is coming down. A Coral Gables-based family purchased the property which makes one ask what could they have purchased on the water in Coral Gables or Coconut Grove for a similar amount?

If you are out shopping for “waterfront” property in Coral Gables or Coconut Grove between $15,000,000 and $20,000,000 there are only six options; four in the Gables (two in Gables Estates, one in Cocoplum, one in Journey’s End), and two in the Grove (one in Entrada Estates and of course the uber cool nest LeGone James just left)

Only Lebron’s house at 3590 Crystal View Court, and 3575 Stewart Avenue in Entrada Estates have the sweeping Bay views that compare to the North Bay Road property, but it would certainly be desirable to live in Gables Estates, Cocoplum, or Journey’s End! Here is a snippet of what’s out there!

9151 arvida

9151 Arvida Lane, Coral Gables

9485 old cut

9485 Old Cutler Lane, Coral Gables

 

 

 

 

 

 

 

 

325 leuc

325 Leucadendra Drive, Coral Gables

A1906833_201_89

300 Costanera Road, Coral Gables

 

 

 

 

3575 stewart

3575 Stewart Avenue, Coconut Grove

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3590 Crystal View Court, Miami

 

 

 

 

 

 

 

 

 

 

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

South Florida by the Numbers!

The Real Deal, which is a daily read or feed for active realtors, released the “Thankful in Miami Edition” today which highlights some interesting South Florida stats. This information isn’t going to make or break your day but they are fun facts:

  • How many hurricanes have hit South Florida since 2005?   0 / Nada
  • What is Miami’s average temperature? 75.9 degrees (Have you seen what is happening across the country this week? Six feet of snow in Buffalo in one day – yikes!)
matheson

Matheson Hammock Park in Coral Gables, FL

Winter Weather

Buffalo, NY

 

 

 

 

 

 

  • What percent increase did South Florida have in median sales prices in the 3rd quarter? 8.7%
  • 001-Welcome_To_Beautiful_515_San_Antonio_Avenue-1281025-mls

    515 San Antonio Avenue, Coral Gables, FL

    What percentage of Miami real estate transactions have been conducted by international buyers this year? 29% This is down from 2013 when then the number was 35% . I am having a hard time believing the number of international buyers is down because I have never had so many international clients. Just this week alone, one property that I have listed in Coral Gables at 515 San Antonio has been looked at by buyers from Italy, Uruguay, Argentina, Venezuela, and Spain.

  • How many people are predicted to pass through MiamiCentral (All Aboard Florida’s downtown Miami station) each year? 12 million!!!! The dollar impact of that is unknown to me but my first thought when I heard about All Aboard Florida was, ‘Where was that when I was trekking to Walt Disney World and Halloween Horror Nights those 30 or so times?”

All-Aboard-Florida_-Map_WebTo learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

Too Tired to Walk On Halloween?

halloween-1

 I’ve had a couple of clients who recently moved to Miami ask me where they can relax and enjoy a Halloween Party with their kids.

If you live in Coral Gables, Coconut Grove, South Miami, Pinecrest, or Palmetto Bay you are in SO much luck! These communities are so exceptional, and I don’t say that because most of my sales are in these neighborhoods; my sales are in these neighborhoods because the communities and the government centers that manage them are THE BEST! Enjoy Halloween Events at anyone of these venues:

 happy-halloween-house-wallpaper

Coral Gables: Halloween on the Mile. From 4 pm to 7 pm, there will be trick-or-treating along the Mile and its adjacent streets. Other activities include story time at Books & Books at 4:30 pm, a children’s costume contest at Actors’ Playhouse at the Miracle Theatre at 5 pm and a doggie costume contest at the Coral Gables Museum at 5:30 pm.

Coconut Grove: Howl-o-ween at Cocowalk. From 2 pm until 7 pm, children are invited to trick-or-treat in and around Cocowalk. In addition to loading up their Halloween goody bags, children will also be able to enjoy face painting, a costume contest, magicians and clowns.

South Miami: Safe Streets Halloween. From 4 pm until 7 pm, the City of South Miami will be closing off Sunset Drive from US1 to Red Road for its annual Halloween trick-or-treating event.

Pinecrest: ‘Track or Treat’ at Evelyn Greer Park. Show up dressed in your Halloween best at any time from 5 pm until 7 pm and join the community trick-or-treating along the track and sampling yummy treats from local businesses.

Palmetto Bay: ‘Where Monsters Go’ at Coral Reef Park. This event begins at 6 pm, with a free movie screening of Hotel Transylvania at 7 pm. Trick-or-treating, games and other activities are just a sampling of the fun that the Village of Palmetto Bay has in store for its residents for Halloween. Children and adults dressed in costume will be automatically eligible to receive a raffle ticket to win ghoulishly.

 

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

Miami Home Prices Up 10.5% in August!

That was tucked away on page 3 of the Business Section in the Miami Herald today (had it been bad news it would have been plastered across the front page!). That 10.5% increase is reflective of the Miami real estate market since August 2013.

I have been selling residential real estate in Miami for 20 years: specializing in Coral Gables, Coconut Grove, South Miami, Pinecrest, and Palmetto Bay. I know that real estate statistics should be looked at neighborhood by neighborhood; it is neither possible nor fair to ‘blanket’ a percentage across an entire town, especially one as diverse as ours. In some areas the prices have far exceeded a 10.5% increase!

65

3551 Main Highway, Coconut Grove, FL | List Price: $65,000,000

Let’s look at the single family home markets from August 2013 through August 2014 in the wonderful communities I spend most of my time in.  Although Coral Gables had a small slip in sales price this past August, it has generally seen more than a 30% increase over the year, and the sales prices in Pinecrest have had a similar increase! The sales prices in Coconut Grove look like they have been taking steroids (wait until the most expensive luxury/waterfront home listed in Miami sells).

There have been months with really strong price increases in Palmetto Bay, but over the year the prices averaged about a 10% gain.  In South Miami, where I live, love, and have sold over 100 homes it looks like we’ve had significant decreases in sales prices but the truth is South Miami has such disparity in the price ranges of the properties and neighborhoods that the numbers can look very skewed.  In the more expensive neighborhoods there is hardly any inventory, but over the next 6-12 months there will be so many newly constructed homes coming on the market and closing in the $2mil+ market that we will see a very strong price increase.

 

Coral Gables

Coral Gables

Coconut Grove

Coconut Grove

South Miami

South Miami

Pinecrest

Pinecrest

Palmetto Bay

Palmetto Bay

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

Just Sold by Valaree Byrne in Coconut Grove! Cloisters on the Bay, Villa 1137

Sitting Area 2

List Price: $1,699,000.00

3 Bedrooms | 4 Baths

www.Cloisters1137.com

It has been an absolute pleasure to market and sell Villa 1137 at Cloisters on the Bay in Coconut Grove. I’ve sold many properties in and near the heart-of-the-Grove, but none so close to my favorite restaurants, Green Street Café and the Bombay Darbar Indian Restaurant. Anytime a prospective Buyer was late, I walked over to Green Street’s for a snack; when I had early evening showings I had dinner at Darbar after.

Those aren’t the only reasons though – I can’t say enough about that community. The people who live AND work there are wonderful (the guards are the best I have seen in my 20+ year real estate career), the grounds are beautiful and spectacularly kept; of course the tennis courts, club house, and pool are first class, and being nestled between the Barnacle Historic Park, Peacock Park, and Biscayne National Park is heavenly. Cloisters on the Bay is the best kept secret in Coconut Grove, although I guess not such a secret anymore – three of them sold there this month! Congratulations to the lucky Buyers!

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

Lebron is LeGone!

Lebron James

Lebron James

Word is out that LeBron is officially clearing out of Miami, although he will remain in the hearts of locals and his spirit will forever remain at the American Airlines arena. The King’s Palace, very unassumingly located on a quiet side street in Coconut Grove, has been listed for $17,000,000.

There will be no snooping or gawking at 3590 Crystal View Court because it will only be shown to the most qualified Buyers, but I will tell you that it was beautiful when I saw it back in 2010 when EWM Realty International | Christies International Real Estate had the property listed for sale; and like the Miami Heat, once it was Lebronitized, it could only get better (LeBron purchased it for $9mil back then).

 

3590 Crystal View Court

3590 Crystal View Court Asking Price: $17,000,000

 

At nearly $1,400 per square foot some lucky Buyer is going to get gorgeous walls of glass with a hell of a view of Biscayne Bay, not to mention a theater, wine cellar, guest house, and more than enough dock space. No matter who buys it or where they are from, it will always be LeBron’s house.

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!