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Miami Beach

Apogee Miami Beach

Apogee Miami Beach Building Arerial

Apogee Miami Beach

Apogee Miami Beach is one of the most sought after building in South of fifth neighborhood, designed by the renowned Sieger Suarez Architectural Partnership with dazzling interiors by Yabu Pushelberg, Apogee is more than a Miami Beach condo; it is a lifestyle.

Apogee Miami Beach Building Aerial 1

Located at the southern edge of South Beach within the upscale South of Fifth neighborhood, these residences are among the most exclusive in the area. Overlooking Biscayne Bay and the Atlantic Ocean, Apogee features 67 three and four bedroom residences as well as spectacular penthouses, all boasting Miami Beach’s contemporary design and the latest residential technologies.

Neighborhood: Miami Beach Real Estate
Developer: Related Group
Architect: Sieger-Suarez
Interior Design: Yabu Pushelberg
Builder: John Moriarty & Associates, Inc.
Year build: 2007
Number of Residences: 68
Number of stories: 22
Residence ceiling height: 10’ft 3 meters
Residence sizes: 3,103 to 4,145 sf / 288.27 to 385 m2


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Apogee Miami Beach Location

Located adjacent to the sough after South Pointe Park, residents enjoy a large array of activities, beach access and services plus the best restaurants within steps away from Apogee Miami Beach.

Building 5

Building Amenities

Apogee Miami Beach Building 2

Building 3

Building 4

Valet

Apogee Miami Beach Lobby 3

Pool 1

Apogee Miami Beach Pool 2

Project Highlights

  • Located at the sought after sought a fifth neighborhood, adjacent to South Pointe Park
  • Apogee Miami Beach feature approximately 68 residences in a 22 story building
  • State of the art Gym and Spa
  • Four residences per floor, flow-through design sharing water and city views
  • 2 types of floor plans available, 3,103 to 4,145 sf / 288.27 to 385 m2
  • Three exclusive penthouse floor plans, each featuring a rooftop pool

Apogee Miami Beach Terrace
Expansive 11 ft deep terraces

Apogee Miami Beach Custom Kitchen
Custom Kitchens

Apogee Miami Beach Tub and Shower
In ground Tub and shower overlooking the bay

Residence Features

  • 10-feet high ceilings
  • 11-feet deep terraces
  • Kitchens featuring optional gas appliances and summer kitchens
  • Master bathrooms featuring soaking tub and rain shower
  • Master closets delivered finished with midnight bar
  • Private enclosed two car garage at parking levels, additional cars can be parked with valet
  • Beautiful landscaped amenities level with infinity pool overlooking the Bay, Government cut and Fisher Island

Apogee Miami Beach Closets
Custom closets

Apogee Miami Beach Floor Plans

Apogee Miami Beach Key Plan

Residence Line 01
5 bedroom 3.5 baths
4,154 sf / 386 m2 interior space
2,441 sf / 227 m2 terrace
Total: 6,595 sf / 613 m2

Residence Line 02
3 bedroom 3.5 baths
3,103 sf / 288 m2 interior space
1,030 sf / 96 m2 terrace
Total: 4,133 sf / 384 m2

Residence Line 03
3 bedroom 3.5 baths
3,103 sf / 288 m2 interior space
1,030 sf / 96 m2 terrace
Total: 4,133 sf / 384 m2

Residence Line 04
5 bedroom 3.5 baths
4,154 sf / 386 m2 interior space
2,441 sf / 227 m2 terrace
Total: 6,595 sf / 613 m2


Categories
Real Estate

Is Miami Real Estate becoming a buyer’s Market?

Is Miami Real Estate becoming a buyer’s Market?

Is Miami Real Estate becoming a buyer’s Market?

Of the top 10 residential sales in South Florida, all of which were single-family homes, 7 (including the top 3 spots) were in Palm Beach County.  The remaining 3 were in Miami-Dade, cutting out Broward altogether.   The winner was 1695 North Ocean Way in Palm Beach that sold for $43.7 million.  The spec mansion was originally listed at $55 million in January and sold in March to hedge funder, Kenneth G. Tropin, for a significant reduction.  

Many luxury listings are now selling for a fraction of their original listing price.  With a large inventory, including new construction, sellers are being forced to be realistic in their pricing and a buyer’s market is emerging, especially in the condo sector.  For instance, on Miami Beach the number of days a luxury condo spent on the market has moved from 62 to 171 in the last year. 

Many factors have contributed to the leveling off of the market.  Foreign currencies continued to decline next to the dollar, the Zika scare, lots of media about sea level rise and finally, the election. But, overall, prices have actually increased.  In fact, prices for the mid-market sector saw record growth rocketing 27% over last year. Don’t forget that a thousand people a day move to Florida.  In Miami-Dade, the median price for a single-family home rose to $305,000 up 9.5% and condos rose 1.3% to $210,000.   Prices for single family homes have risen for 61 consecutive months.



Is Miami Real Estate becoming a buyer's Market?

Who’s Buying?

Apparently, more foreigners from a more wide diversity of countries purchased more residential real estate in 2016 than ever before.  More than half of the international sales in the state of Florida happened in the tri-county, Palm Beach, Broward, Miami-Dade area totaling $6.2 billion in residential sales for 2016.  80% purchased in Miami-Dade. 

Top countries in order of investment in South Florida are Venezuela, Argentina, Brazil, Colombia, Canada, Mexico, France and Peru.  In Palm Beach and Martin counties, Canada topped the list and according to a report by the Miami Association of Realtors, Canadians were the top international consumers using their property search portal miamire.com.  In fact, South Florida was the most searched U.S. market for international consumers, while Los Angeles ranked second and New York placed fourth. According to realtor.com, the city of Miami has ranked number one in ten of the last eleven months.



Contact us for more information or to schedule a private preview

“Miami


Is Miami Real Estate becoming a buyer’s Market?
by Jill Petterson


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Click here.

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Real Estate

Why Miami Real Estate investment

Miami Real Estate Investment

Miami Real Estate Investment

More and more people are turning to rental properties in Miami as a way to diversify their investments and generate steady cash flow in the future. And why not? There are serious benefits of investing in Miami real estate. First, however, it’s important to understand the key advantages of investing in properties in the first place.

Miami Real Estate Investment – Why Rental Properties?

There are several factors driving the trend in investing in rental properties and condos in Miami.

  • Many people are not reaping the benefits they thought they would from Certificates of Deposit and other savings accounts.
  • Despite we are not financial advisors low interest rates have made people cautious of inflation in the future, pushing them away from the bond market. They turn to commodities like real estate which protect them from inflation.
  • People are diversifying their investments.
  • Low interest rates and condo prices create interest in rental property investing.
  • Miami Real Estate appreciation.

Now that you understand why so many people are turning to Miami real estate investments, you need to know whether a potential property is worth the investment.

When determining whether or not a home or condo for sale in Miami is worth investing in, keep in mind these two key formulas:

Miami Real Estate Investment – The Cap Rate

The first formula involves calculating the cap rate. If you bought the house in cash, this is the rate of return you would make.

What is the Cap Rate?
The cap rate, also known as capitalization rate, is net income divided by current market value.

Here’s an example:

  • Cost of condo or home = $200,000
  • You rent it out for $1,500/month
  • Average monthly expenses = $500 You spend an average $500/month on expenses (taxes, repairs, maintenance, etc.)
  • Net operating income = $1,000/month, or $12,000/year
  • Cap rate = $12,000/$200,000 = .06 or 6 percent

Whether or not the 6 percent is worth the investment is up to you to decide. If you find a property in a Miami neighborhood with high quality tenants, then it might be worth it. On the other hand, if the property is in a not-so-good neighborhood, then 6 percent may not be a great return on your investment.

Miami Real Estate Investment – The One Percent Rule

When evaluating a rental property in Miami, the general rule of thumb to go by is this: If the gross monthly rent equals at least one percent of the purchase price, you should look further into the property investment. If not, keep searching for better options.

Here’s an example:

If you purchase a condo for $200,000, it would need to rent for $2,000/month. If not, the one percent rule has not been met.

According to the one percent rule, the property should bring in gross revenue of 12 percent of the purchase price each year. After expenses, the net revenue should equal between 6 and 8 percent of purchase price.

In general, this is a good return on investment. However, it is important to take into consideration the neighborhood you are investing in. If the property is in a nicer neighborhood, there is likely a lower return; similarly, more questionable neighborhoods often have higher returns.

Don’t Forget This One Last Thing

Finally, no matter what percent you are gaining in ROI off of your Miami property investment means very little if the interest is not compounding. Well, what is compound interest?

How does compound interest work and what does it mean for property investment?

Compound interest is interest that is generated by your principal plus its interest.

For example, if you invest $100 in the stock market, at the end of the year it will have gained $10 in interest, to equal $110 total.

At the end of the second year, the interest has grown by another $11, for a total of $121.

In summary, the extra $1 the second year earned represents interest that compounded on top of your interest. Each year, the interest will compound on top of the previous interest, which becomes very powerful after 10, 20, 30 years. In order to reap the same of compound interest on your Miami Real Estate investment, you should reinvest the all of the proceeds so that your returns will compound upon themselves.

This is an opinion, we are not financial advisors, please consult an Investment company of your choice for more information on return of investments. But should you be ingested in purchasing real estate, please give us a call.

Contact us for more information or to schedule a meeting!

“Miami


Categories
Real Estate

Mana Wynwood Project Given Groundbreaking Approval

Mana Wynwood Project Given Groundbreaking Approval

Mana Wynwood Project Given Groundbreaking Approval

After months of negotiations, Moishe Mana’s vision for Wynwood has been realized. On September 8, his gigantic redevelopment project in the once warehouse district, now burgeoning arts district, has been officially approved by the Miami City Commission. The project will create somewhat of a mini city with culture at its core and will be like nothing Miami has ever seen. As Designer Bernard Zyscovich remarked, “This is a truly transformational project. We wanted to provide something that doesn’t exist in that neighborhood or that exists in any part of the city.”

Wynwood Mana Mega project situated on nearly 24 acres of land

The project will cover 9.72 million square feet on almost 24 acres of land, to become one of the biggest development projects in South Florida. The plan consists of up to 3,482 residences, and a mixture of retail, office, art galleries, museums, exhibition space, civic space, a conference center, and a privately owned park called “Mana Commons”.

Situated between Northwest 22nd Street and Northwest 24th Street between I-95 and Northwest 2nd Avenue, the project lies just outside the Wynwood Business Improvement District.

Project to improve walkability and improve housing

Despite doubt from Mana Wynwood’s neighbors about the project inundating the once warehouse district with high rises, the local Business Improvement District’s board backed the plan. The board endorsed the plan to improve its walkability and improve housing development, both key factors in transforming Wynwood into a real neighborhood.

Just south of Mana Wynwood, lies the Overtown neighborhood. Education programs for fashion and arts, a new public transit stop, and roadway improvements are all in the works according to developer Moishe Mana.

Project set to grow Miami into one of the great global cities

In a statement last Thursday, Developer Moishe Mana shared his vision for the groundbreaking project, “Today’s unanimous vote by the City of Miami to approve the entire Mana Wynwood Special Area Plan was an important first step in realizing our shared vision to increase business diversity in South Florida by making Wynwood and the surrounding area a global center for the arts and trade, and we want to thank everyone involved.

We now turn our focus to the most difficult part – the execution of our dream for Miami and all of South Florida, including the exciting work of building the cultural infrastructure needed to secure partners in art, fashion, technology and an international center to grow Miami into one of the great global cities.”

A once industrial neighborhood, Wynwood has become a full-fledged arts district complete with innovative restaurants and shops. Moishe Mana envisions Mana Wynwood as a mini city built around culture, where old warehouses and factories are transformed into a bustling center for visual arts in an inclusive, groundbreaking way. Artists’ studios, exhibition spaces, galleries, an art school, and more will be featured in the new project.

Mana Wynwood Project Rendering
Rendering of the project, source Miami Herald

Categories
Real Estate

FHA finance bill: win for condo buyers

FHA Finance bill: Win for condo buyers

FHA Finance Downtown Miami

FHA finance bill: win for condo buyers

FHA Finance: It’s no secret that the Federal Housing Administration has been under pressure for several years by housing, community associations, and other groups to revamp its condo finance program.

As of last month, their wishes were granted as the Senate unanimously passed a bill which will require the FHA to make its condo financing regulations less strict and make FHA financed loans more readily available to home buyers with moderate incomes, many of whom are purchasing a home for their first time, as condominiums are the most affordable option.

The Federal Housing Administration, generally known as “FHA”, provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories. FHA insures mortgages on single family and multifamily homes including manufactured homes and hospitals.

It is the largest insurer of mortgages in the world, insuring over 34 million properties since its inception in 1934.

New bill passed following significant decrease in FHA financed condos

The bill (H.R. 3700) passed following a downfall in FHA-financed condo mortgages. In 2010, the FHA finance was the main source of condo financing for buyers purchasing a home for their first time. It helped finance roughly 90,000 condo mortgages and in the last year the number has dropped to a mere quarter of that figure.

To make matters worse, the FHA placed stringent restrictions on condo communities making eligibility for financing become extremely difficult, so much so that thousands of condo associations fled the program. The Community Associations Institute found that less than ten percent of condo associations are currently eligible for FHA loans.

FHA finance bill seeks to fix key problems

The changes required by the new bill will help correct the following key issues currently facing condo associations and future condo buyers:

  • The FHA will be forced to streamline the re-certification process for condo associations and make it easier for them to be in compliance with the government’s regulations.
  • The minimum owner-occupancy ratio will be reduced from 50 percent to 35 percent, unless the higher percentage is sufficiently justified by the FHA.
  • Exceptions to FHA finance restrictions on commercial space inside condo projects will be allowed. Currently, the limit is set at 25%.
  • Transfer fees will be allowed. In the past, the FHA has rejected condominium projects that collect transfer fees when a unit is sold.
  • More flexibility will be granted with regards to how much commercial space is allowed in condo developments.

Bill’s success depends on two factors

Although it’s unclear that the changes will be enough to revive the struggling FHA program, it’s a step in the right direction. The success of the new FHA bill will depend on two factors: how fast the FHA puts the procedures into practice, and whether the thousands of condo associations who’ve left the program decide to jump back in.

While the new FHA finance bill is currently in ‘wait and see’ state, there is no doubt that Miami is one of the best markets for prospective condo-owners. Miami has historically been known as a hot vacation destination due to its gorgeous beaches and vibrant nightlife.

Today, it is widely recognized as a top place to live for its rich culture, world-class arts and entertainment, and international commerce. Miami’s having a cultural renaissance and it’s clear there’s never been better time to invest in the magic city.

By Julie Wyatt
Source: https://www.congress.gov/bill/114th-congress/house-bill/3700

Categories
Real Estate

Brickell Heights 96% sold, great deals on the last residences

Brickell Heights Condo 850 S Miami Ave Miami, FL 33130

Brickell Heights Condo has toped off with 96% of it’s residences sold, scheduled for completion early next year the project features 2 towers 690 residences connected by a private oasis with lap pools, fitness center and a 30,000 square feet Equinox Gym. Each tower features its own rooftop pools overlooking to miami skyline.

Brickell Heights Equinox 2

The building will feature slick interior design by David Rockwell, Rockwell Group has designed for W Hotels (Paris, Puerto Rico, Singapore and New York City), and Fairmont (Quebec City). Top restauranteurs who have called on his expertise for unique dinning venues include Nobu Matsuhisa, José Andres, Gordon Ramsay and Denny Meyer (New York)

The project features 1 to 4 bedroom residences priced from the mid $400,000, the residences will be delivered finished with tile floors throughout. At this point the developer is offering incentives on the last residences.

This is a great time to purchase at Brickell Heights Condo and enjoy special close out pricing.
There are just a few residences remaining, do not miss this great opportunity.

Click here to visit the Brickell Heights Condo Webpage and preview renderings and floor plans.

Brickell-Heights-Condo 2

Or click below to send us an email

“Miami

Legal Disclosure
ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS BROCHURE AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. OBTAIN THE PROPERTY REPORT REQUIRED BY FEDERAL LAW AND READ IT BEFORE SIGNING.

All artist’s or architectural conceptual renderings, plans, specifications, features, dimensions, amenities, existing or future views and photos depicted or otherwise described herein are based upon preliminary development plans, and all and are subject to architectural revisions and other changes, without notice, in the manner provided in the purchase agreement and the offering circular. All features listed for the residences are representative only, and the Developer reserves the right, without notice to or approval by the Buyer, to make changes or substitutions of equal or better quality for any features, materials and equipment which are included with the unit. The dimensions of units stated or shown in brochures will vary from the dimensions that would be determined based upon the description of the Unit boundaries set forth in the Declaration of Condominium. This website does not constitute an offer to sell or a solicitation of an offer to buy a unit in the condominium. No solicitation, offer or sale of a unit in the condominium will be made in any jurisdiction in which such activity would be unlawful prior to any required registration therein. We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, sex, religion, handicap, familial status or national origin.

Not an offering where prohibiting by state law. Prices subject to change without notice. Photography and artwork in this website is for informational purposes and might be stock photography and renderings used to depict the lifestyle to be achieved rather than any that may exist. We are pledged to the letter and spirit of us policy for the achievement of equal housing opportunity throughout the nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status or national origin. investinmiami.com is not affiliated to any other website or entity. The images herein belongs to the developer and is being used in collaboration with their sales and marketing to promote such properties. Click here for our full legal disclosure