The Setai just broke yet another record this week. Andrew Rosen, co-owner of the clothing line Theory bought a 2521 square foot condo for $8.6 million in The Setai. It is a three bedroom three bath condo and the price per square foot also breaks a record for non-penthouse sale at $3,411 per square foot. This condo was most recently sold in May 2012 for $6.75 million to the Le Frak organization. According to The Real Deal this is a 74% over the median price per square foot paid for in the building on average. This is incredible news for sellers in the Miami Beach area.

The Setai has long been regarded as one of the premier hotels and residences in Miami. It led the way with the hotel residence model that offers resort style amenities to people who live there. Setai has some of the finest dining in South Florida and the style is zen minimalist. It is located in the heart of Miami Beach between 20th and 21st street on Collins ave and the views and location make it one of the most sought after real estate areas in Miami. Some amenities are floor to ceiling windows in residences, pre-wired condos, black granite flooring, whirlpool tubs, teak kitchen cabinetry, Miele appliances, sub-zero refrigeration, 24 hour security, 3 oceanfront swimming pools, incredible gardens, five star dining, and much more. For more information on The Setai and to see properties, contact us today.

The Miami Association of Realtors and the Greater Fort Lauderdale Realtor Association have released the April sales numbers and they are all double digits ahead of last year. We have consistently reported that the market is contricted in Miami, with supply well below a healthy 6 month supply, but the most recent numbers confirm not only the limited supply, but the incredible demand, that shows no sign of slowing. Home prices are rising at incredible rates due to the simple lack of inventory and homes are receiving multiple offers as soon as they are listed, often buyers enter into bidding wars. This is truly a wonderful time to sell your condo or home in Miami Dade or Broward county and the numbers below prove it. If you have property and have considered selling, contact us today for a complimentary comparative market analysis and listing presentation.

• Median Home Price for Single Family Homes in Miami Dade County: Up 23.7%
• Median Condo Price in Miami Dade: Up 17.1%
• April sales from 2012-2013 for Single Family Homes in Miami Dade: Up 15.2%
• Homes listed for sale from 2012-2013: Down 6.9%
• April sales from 2012-2013 for Condos: UP 18.7%
• Median Price for Single Family Homes in Broward County: Up 22%
• Median Price for Condos in Broward County: Up 24%
• April Sales of Single Family Homes in Broward County: Up 11.1%
• April Sales of Condos in Broward County: Up5.8%

The inventory is dwindling in South Florida and is well below 5 months, however there are still homes available in the ultra luxury market. We would like to showcase 1844 W. 23rd street in the coveted neighborhood of Sunset Islands. This home is a Spanish stunner with over 6300 square feet and 4 beds and 4.5 baths. It is fully customized from inside out and has all amenities of a luxury home, even a luxury resort. The grounds are landscaped to perfection and the pool is much like a lagoo overlooking the wide Bisayne Bay and Downtown Miami Skyline. It has wide verandas on the first and second floor and has a boat lift for those seafarers. This home is listed at $11 million and we do not expect it to remain on the market long, especially in a neighborhood like the Sunset Islands.

The Sunset Islands are amongst a group of man made islands that comprise Miami Beach. Star, Palm, and Hibiscus Islands are also in this elite group. Sunset Islands are numeric and there are 1, 2, and 3. One of the most impressive aspects of the location of the Sunset Islands is that once out of the 24 hour secured gates, you are in the heart of South Beach. It is serene and family friendly with all of the diversions and attractions of South Beach at your fingertips. The Miami Interntational Airport is a 20 minute drive and Downtown Miami is a 15 minute drive. Shoppes at Bal Harbour and The Design District are also conveniently located. For more information on this home and others in the Sunset Islands, contact us today.

Pinetree Drive is known for its Pinetree lined medians and the shady neighborhood is home to some of the most impressive real estate in South Florida. It is seconds away from the heart of South Beach and about 15 minutes from Downtown and the Design District. Despite this very urban appointment, the neighborhood of Pinetree Drive is decidedly suburban. The lot sizes of the homes are generous and many are waterfront, which is why many people who live in the neighborhood choose it because of its’ access to the Biscayne Bay and Atlantic Ocean. The Miami International Airport is a mere 20 minute drive and the shopping destination of Bal Harbour is a 10 minute drive. When you drive through this area, you will immediately be struck by the beauty and tranquility of the setting.

5727 Pinetree Drive is our featured property this Wednesday and it is a new listing in the area and remarkably it is also a newer home. The home was completed in 2009 and is located on a spacious 40,989 square foot waterfront lot. It has 77 feet of waterfront and docks for 3 boats. The home also boasts a guest house and main home with 7 beds and 7 baths within 7,808 square feet. It is in the Mediterranean Style with high ceilings and beautiful tiled roof, which is a predominant style in Miami Beach. Some of the other modern amenities this home provides are a Sonos Sound System, security system, elevator, fireplace, generator, and a stunning 2nd story terrace that has marvelous city and water views. The home is listed at $6.75 million and we do not expect it to be on the market long. For more information on this home and others in the Pinetree Drive neighborhood, contact us today.