One Thousand Ocean divides penthouse for $5.9M

March 07, 2013 03:00PM

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One Thousand Ocean

Boca Raton’s One Thousand Ocean condominium has closed one-half of a penthouse for just under $5.9 million, or $1,415 per square foot, pushing the building to 89 percent occupancy, LXR Realty, the building’s developer, announced today. 

The unit is customizable, unfurnished and features ocean views and over 4,142 square feet of indoor living space, as well as, a  1,450-square-foot terrace.

One Thousand Ocean divided the penthouse in two upon the request of the buyer. The other half of the unit is currently on the market for $7.65 million.

“After touring our largest penthouse, the couple immediately loved it but felt it was too large for them,” Maria Scarola, One Thousand Ocean’s sales director and an LXR Realty associate, said in a statement. “We presented a solution and they went to contract within 72 hours.”

National market report

March 08, 2013 04:00PM

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Las Vegas at night

From the March issue:  In this month’s round-up of real estate new from across the U.S.,The Real Deal checks out Las Vegas’ $415 million renovation of the Sahara casino and hotel, rechristened the SLS Las Vegas. TRD also examines a remarkable 38 percent spike in Orlando home sales, 4,700 apartments coming  to downtown Chicago and the $100.8 million sale of a 496-unit apartment development in Los Angeles. Read all these stories and after the jump.

Ray Lewis lists West Palm Beach mansion for $5M

March 11, 2013 12:00PM

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3573 South Ocean Blvd (photo courtesy Realtor.com)

Former linebacker Ray Lewis has listed his West Palm Beach home for $5 million as he heads for a new gig as an analyst at ESPN, Realtor.com reported. The Meditterranean feeling seven-bedroom, nine-bathroom home is located in the Highland Beach area, the website said.

The 2001 home features a private balcony with an ocean view, a “chef’s kitchen” and a pool, according to the listing.

The four-story, 6,788-square-foot residence at 3573 South Ocean Boulevard is listed by Emily Roberts of Tauriello & Company Real Estate, according to Realtor.com.

Miami’s 1221 Brickell doubles occupancy

March 11, 2013 03:00PM

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Grant Killingsworth and 1221 Brickell

In a dramatic turnaround, premiere Miami office tower 1221 Brickell has signed 14 new leases, for a total of 50,000 square feet, according to a statement from Jones Lang LaSalle, which represents the landlord, Equities Office Properties Trust. In 2010, the building lost it’s anchor tenant, the law firm Greenberg Traurig, which had leased approximately 150,000 square feet. But the new leases, finalized in 2012, nearly double the building’s occupancy rate from 38 percent in 2010 to 70 percent today.

The new tenants include: Bank of New York Mellon, Allen, Dyer, Doppelt, Milbrath & Gilchrist; US Media; Schimmel; INTL FCStone; Liberty Mutual Insurance; and Lydecker Diaz. Jones Lang LaSalle executive vice president Scott Strickland and senior vice president Grant Killingsworth manage leasing for the building’s owner.

“Ownership’s commitment to ongoing capital improvements, an unmatched location … and a gradually strengthening office market have spurred a dramatic turn of events at 1221 Brickell,” Killingsworth said in the statment. “We have nearly doubled the building’s occupancy in just two years by backfilling 140,000 square feet of office space with a diverse roster of credit tenants – and we expect to continue growing occupancy in 2013.” --Christopher Cameron

Ivanka Trump stalker arrested in Doral

March 13, 2013 12:00PM

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From left: Ivanka Trump and the Doral Golf Resort and Spa

A man accused of violating a restraining order prohibiting him from coming near Ivanka Trump has been taken into custody for approaching her in Doral, NBC Miami reported. John Eugene Enabnit, 32, was arrested Sunday for violating the order, which originates in New York state, the website said. He had previously been arrested during the launch of Trump’s perfume line in New York.

Trump’s father, Donald Trump, bought the Doral Golf Resort and Spa for about $150 million last year.

Peloro sees 75 percent of units reserved

March 14, 2013 02:00PM

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A rendering of Peloro

Only three months after Cervera Real Estate launched sales at Peloro, a luxury condo project in Miami Beach, the development has seen 75 percent of its 113 units reserved, developer SMG Management announced today.

The Luis Revuelta-designed building will open its new sales center at 6630 Indian Creek Drive in early April, at which time prospective residents can sign hard contracts on the boutique building.

Construction will begin in the coming months, starting with the demolition of of the old wall on the bayfront site across Collins Avenue from the ocean. Asking prices will average around $500 per square foot, according to a statement today from the developer.

Peloro wil be located in Mid-Beach, a quieter midpoint between SoFi and the booming areas further north on the Miami Beach barrier island.

“This project is kind of in between [the two areas],” Alicia Cervera, managing partner at Cervera Real Estate, which is marketing the property for SMG, told The Real Deal in November. “It’s a unique opportunity because South Beach and Bal Harbour have gone nothing but up.”

Today’s priciest new listing

March 14, 2013 05:00PM

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5342 Fisher Island Drive

Today’s priciest new listing is a four-bedroom, four-bathroom, 6,300-square-foot condominium in the Bayview Fisher Island development that is asking $6.9 million, according to Condo Vultures. The waterfront condo, which is located at 5342 Fisher Island Drive, #5342, in Miami, features bay views and terraces. Jill Eber of Coldwell Banker has the listing. ( Data includes condos and single-family listings in the main metropolitan areas of Miami, Fort Lauderdale and West Palm Beach, as well as Monroe County, that are newly listed. Listings are taken from the South Florida MLS.)

Miami penthouse sells for $34M

March 06, 2013 02:00PM

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A rendering of the penthouse at the Residences at The Miami Beach EDITION

A combined-unit penthouse at the Residences at the Miami Beach EDITION has closed for $34 million, making it one of Miami’s priciest penthouse sales ever, Coldwell Banker announced today. Coldwell Banker’s sales associate William Pierce closed the deal.

Penthouses 1601 and 1602 in the the building were combined to form a 16,271-square-foot triplex featuring  eight bedrooms and eight and three-half bathrooms. The building offers multiple pools and outdoor kitchens.

“This record-breaking sale exemplifies the wonderful flexibility that Miami Beach offers,” Pierce said in a statement. “There will be a nearly 360 degree view of our beautiful city.” 

Buyer of Tiger Woods’ Windermere home revealed

March 14, 2013 03:00PM

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From left: Tiger Wood, the Isleworth development home and Bubba Watson

After that pesky sex scandal, Tiger Woods listed on of this Windermere homes in the Isleworth development. The mansion sat on the  market for sometime before eventually being picked up by a mystery buyer last summer. Now that buyer has not only revealed himself, but also unveiled plans for a massive renovation, AOL reported.

Golf champ Bubba Watson was the buyer of the site of Tiger’s infamous “car accident,” he told Golf.com in an interview. And since buying the house, he has set out on a renovation project that altered about 95 percent of the home.

“I looked at probably 50 houses before I looked at Tiger’s,” Watson said. “A lot of the houses there are old, and we ended up changing everything. We probably saved maybe 5 percent of it. We built it all around Caleb [Watson's son].”

Although Watson did not reveal what he payed for the house, property records show that Tiger bought the home for $2.475 million in 2000 and that it was assessed at $2.2 million in 2012.

VIPoceanrealty Today’s priciest new listing

March 05, 2013 05:00PM

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2435 S. Ocean Boulevard

Today’s priciest new listing is a seven-bedroom, 11-bathroom, 12,874-square-foot single-family home that is asking $13.9 million, according to Condo Vultures. The waterfront house, which is located at 2435 South Ocean Boulevard in Highland Beach, features 125 feet of private ocean frontage on 1.5 acres of land. Beverly Knight of Ocean Estate Properties has the listing. ( Data includes condos and single-family listings in the main metropolitan areas of Miami, Fort Lauderdale and West Palm Beach, as well as Monroe County, that are newly listed. Listings are taken from the South Florida MLS.) 

Chávez death could impact SF market

March 06, 2013 11:00AM

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Hugo Chávez and the Miami skyline

Since the downturn Latin American investors have helped keep South Florida’s luxury real estate market afloat. But with yesterday’s announcement of the death of Venezuelan president Hugo Chávez, industry experts are concerned that wealthy Venezuelans might leave South Florida for home, according to the South Florida Business Journal. 

Condo Vultures’ Peter Zalewski told the Business Journal that Venezuelans may begin to return home to help friends and relatives weather the political and economic storm on the horizon.

“Chávez’s politics worked to Miami’s advantage as many Venezuelans headed to South Florida to park their money and make a new life,” he said. “The question going forward is, what percentage of those Venezuelans who are living in South Florida would consider returning to South America to start rebuilding that nation? … South Florida stands to lose a significant foreign investor in the region for the foreseeable future.”

And Carlos Rosso, executive vice president with the Related Group, told the Business Journal that South Florida will be watching Venezuelan buyers closely.

“We think Venezuela will have a time of transition; right now it’s `wait and see’ what happens,” he said. “Hopefully Venezuela comes back stronger, which will be good for Miami.”

South Beach’s Delano Hotel sees revenue leap

March 01, 2013 11:00AM

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Delano Hotel

South Beach’s Delano Hotel has increased its revenue per available room by 17.8 percent in the fourth quarter, according to earnings filed by parent company Morgans Hotel Group, the South Florida Business Journal reported.

Delano’s revenue per available room grew to $367.66 in the fourth quarter of 2012, up from 2011′s $312.02. The hotel’s occupancy rate was also up 68.7 percent for 55.8 percent in 2011. 

Delano’s parent, New York-based Morgans Hotel, also owns other South Beach hotels such as the Shore Club and Mondrian and revenue was up in those buildings too. Overall, Morgans’ Miami hotels increased their revenue per available room by 13.2 percent to $204.04 in 2012 from $180.32 in the fourth quarter of 2011. The total occupancy rate for Morgan’s Miami hotels was up 71.1 percent in the fourth quarter, compared to 64.5 percent in 2011.

“In the fourth quarter we began to see increasing benefits from investments in our product and service offerings, leading to significant improvement in year-over-year EBITDA performance,” Morgans CEO Michael Gross said. “At Hudson and Delano South Beach, where we completed significant renovations in 2012, results were particularly strong and operating margins were up 700 basis points in the fourth quarter.”

Former Trump Tower Fort Lauderdale condo project hits the market

March 06, 2013 12:00PM

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A rendering of 551 North Fort Lauderdale Beach Blvd.

A 298-unit Fort Lauderdale condominium development intended to bear the Trump name is being offered in a bulk sale, the Sun Sentinel reported.

The troubled building at 551 North Fort Lauderdale Beach Boulevard has no formal asking price, the Sentinel said. Lawsuits and a foreclosure have plagued the 24-story beachfront tower, once slated to be named Trump International Hotel and Tower, prior to a dispute with the Donald.

The property still has around $4 million in lien claims from buyers who put down deposits but whose units were never delivered, the Sentinel said.