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Understanding the Luxury Waterfront Market in Miami

waterfront market Miami

 

The real estate market in Miami, like anywhere else, tends to fluctuate based on a number of factors, including supply, demand, time of year, the economy and so many others. The combination of these factors helps determine whether it is a “buyer’s market” – meaning that prices are more favorable for buyers, or a “seller’s market” – which is more favorable to the seller.

 

One thing that has not changed, and likely will not ever change, is the amount of waterfront real estate in Miami. Waterfront real estate is both finite and highly desirable, so demand is always high, even in a down market. Further, because of demand, virtually no land exists to develop unless the existing structure is removed first. Knowing how to identify the right property or the value of land where a structure already exists is an important part of the real estate process.

 

The luxury waterfront market, which includes homes listed at more than $1 million, has remained relatively stable throughout 2016. During any one given month, there have been an average of 21 sales and 22 homes under contract. The average sales prices for homes asking at least $1 million tends to fall within the $3-5 million range, although certain notable properties can ask way more than that!

 

Buyers tended to pay between 78-88% of the original asking price, which means that buyers had some wiggle room when it came time to negotiate the final asking price. Further, homes averaged between 4-6 months on the market from the time it was listed to closing, which can be typical for luxury listings.

 

Available inventory in the luxury waterfront market has also been relatively stable, although there have been between 537 and 572 residences available during any given month in 2016, which means there is quite a bit of inventory on the market. Given such a large amount of inventory, it is especially important to identify the right realtor to help you find the perfect home, and if you are selling, to make sure your home stands out from the crowd!

 

Questions about Buying, Selling or Renting Waterfront Property in Miami?

 

Whether you’re buying, selling or renting, choosing the right real estate professional is of paramount importance.

 

If you have questions about the luxury waterfront market, would like to schedule an appointment to view one of my listings, or discuss listing your home or condominium, feel free to contact me anytime.

Discover the Luxurious Neighborhoods of Coral Gables

 

Known as “the City Beautiful,” Coral Gables is the oldest planned community in South Florida. Founded by George Merrick in 1925, Coral Gables was designed in the Mediterranean Revival-style and is also home to the University of Miami. The downtown area was designed to be narrow and walkable, bisecting the business district when it was originally planned, and this remains true today.

 

Since its founding, Coral Gables has also become synonymous with some of Miami’s best neighborhoods to live or visit, thanks to its strict adherence to preserving the classic beauty it was founded with. Read below about some of Coral Gables’ finest and most exclusive areas:

 

Gables Estates

 

20 Casurina Gables Estates

 

Gables Estates is located on the outskirts of the city off of Old Cutler Road and east to the edge of Biscayne Bay. Many of the residences here are known for their palatial size and style, ranging from Mediterranean to modern in design. Gables Estates is a short drive from some of Miami’s top private schools and from the heart of Coral Gables.

 

Cocoplum

 

cocoplum

 

Cocoplum is a guard-gated residential community on the edge of Coconut Grove, technically located within the boundaries of Coral Gables. Owners here have access to tennis courts, a basketball court, pool, playground and clubhouse. For yacht enthusiasts, Cocoplum offers direct access to Biscayne Bay either from your own private dock or the Cocoplum Yacht Club marina. Residents are just a short drive from Coconut Grove, Downtown Miami, Fairchild Tropical Botanic Garden and some of the best private and public schools in the county.

 

Snapper Creek

 

Snapper Creek

 

Located just to the west of Old Cutler Road, the homes of Snapper Creek are known for their immense lot size. Each home sits on one acre of land, and many owners have maximized the use of their space. The area is known for its lush landscaping which is evident just by driving down its streets. The area is also a short drive from Matheson Hammock Park and features its own marina, great for boating enthusiasts who want easy access to the bay and Atlantic Ocean.

 

Gables by the Sea

 

Gables by the sea

 

Located to the south of Gables Estates, Gables by the Sea is renowned for its exclusivity. This gated community features several residences that sit on spacious lots with boat docks that offer direct water access to Biscayne Bay without bridges. The area also has a dedicated playground for children in the neighborhood to get together.

 

Questions about Buying, Selling or Renting in Coral Gables

 

Whether you’re buying, selling or renting, choosing the right real estate professional is of paramount importance. If you have questions about the Coral Gables area, would like to schedule an appointment to view one of my listings, or discuss listing your home or condominium, feel free to contact me anytime.

Miami Property Values Still Hitting Record Highs

 

Brickell Miami

 

Even though the weather may soon be cooling off, the real estate market is certainly not! 2016 has been one for the books so far, with prices continuing to surge – including one of my own record-breaking sales. This past month, I helped a seller close on a prime parcel of land on South Bayshore Drive in North Coconut Grove. The property sold for more than $108/sq. ft., which has been a record price for land value in North Coconut Grove for single-family homes.

 

Over the past year, homes purchased in the Miami housing market have appreciated by nearly $14,000, and compared to three years ago, homes purchased have appreciated by an average of more than $92,000, beating national averages both times.

 

Even as foreign investment from Latin America has slightly slowed, foreign investment from countries like China has increased dramatically, as buyers looking to put their money in real estate are finding Miami more affordable when compared to cities such as New York or San Francisco.

 

There are also tax advantages to buying property in Florida, such as the homestead exemption and the absence of state income tax, both of which have buyers from around the U.S. very interested in the Miami area.

 

For renters, Miami now ranks in the top 10 nationally for average rent prices. According to one study, the median price for a one-bedroom was priced at $1,870 in August. In July, the total taxable real estate surged to $251.3 billion, marking a $5 billion increase in values since they last peaked in 2008. Many expert analysts consider the resurgence in this current cycle to be more mature and reliable than in the past.

 

One thing is for certain at the moment: prices are still hitting highs, which can determine if now is the right time for you to buy – or if now is the right time for you to  sell.

 

Interested in Buying, Selling or Renting in Miami?

 

Whether you’re buying, selling or renting, choosing the right real estate professional is of paramount importance.

 

If you have questions about the Miami area, would like to schedule an appointment to view one of my listings, or discuss listing your home or condominium, contact me.

 

For more information, contact Saddy Delgado at sdelgado@onesothebysrealty.com or phone +1 (305) 632 4256

www.SaddyDelgado.com

Coconut Grove Continues Expansion into Luxury Market

 

Long known for its history as an artists’ colony and its Bohemian vibe, Coconut Grove has been and continues to be one of Miami’s most coveted neighborhoods thanks to its tree-lined streets, boutique shopping, fine dining and top notch schools.

 

Although “the Grove,” as it is lovingly referred to by locals, is mostly comprised of single-family homes, there are a few luxurious high-rise projects that have been extremely sought after by homeowners and investors alike.

 

Grovenor House

 

Grovenor House

 

Completed in 2006, Grovenor House set the standard for luxury condo living when built. Rising 32 stories along Biscayne Bay, its residences feature spectacular views of Biscayne Bay, the Miami skyline or Coral Gables. Owners enjoy spacious living areas and balconies, with units ranging in size from 1,595 sq. ft. to over 7,000 sq. ft.

 

I am fortunate to be the listing agent for Penthouse #3201, a breathtaking 5/5.2 offering over 7,000 sq. ft. of living space with a 2,700 sq. ft. zen-like rooftop sanctuary with a heated infinity edge pool, full-service kitchen and serene walls of stone with flowing waterfalls with uninterrupted panoramic views of the Miami skyline. This property has to be seen in person to be truly appreciated!

 

grand bay

 

Grove at Grand Bay

 

There has been plenty of buzz about the pending completion of the twin spiraling towers designed by Bjarke Ingels and located at the corner of S. Bayshore Drive and 27th Avenue. Amenities at the Grove at Grand Bay include access to an art gallery, pet spa, dining room, library, butler service, full-time concierge and even a private chef.

 

I am also proud to be the listing agent for two magnificent listings in the North Tower – units 1803-N and 1601-N. Unit 1803-N offers 5 bedrooms, 4.1 bathrooms and nearly 5,700 sq. ft. of living space with 12-foot ceilings. The residence offers incredible views of Biscayne Bay from its signature wraparound terrace.

 

Unit 1601-N is a 4-bedroom, 5.1-bathroom residence overlooking Biscayne Bay toward the north. The unit comes designer-ready and also features 12-foot ceilings, Miele appliances and two parking spaces. Both residences enjoy access to the building’s fitness center, spa and so much more.

 

Questions about Buying, Selling or Renting in Coconut Grove

 

Whether you’re buying, selling or renting, choosing the right real estate professional is of paramount importance. If you have questions about the Coconut Grove area, would like to schedule an appointment to view one of my listings, or discuss listing your home or condominium, feel free to contact me anytime.

 

For more information, contact Saddy Delgado at sdelgado@onesothebysrealty.com or phone +1 (305) 632 4256
www.SaddyDelgado.com

Grovenor House

 

 

grovenorhouse

 

 

The Grovenor House is a luxury development set in the heart of Coconut Grove on South Bayshore Drive, just steps from Biscayne Bay and the marina. This beautifully designed condo building offers modern luxury residences with beautiful features alongside world-class amenities. Residences rise 32 floors and have spacious terraces providing breathtaking panoramic water and skyline views. The interiors feature wood and marble floors, sleek modern kitchens, and floor plans with rooms for everyone.


grovenor house

The Grovenor House Features

 

  • Infinity Pool with cabanas
  • Spa
  • Outdoor tennis court
  • Top-of-the-line fitness center
  • Library
  • Billiard Room

The Grovenor House kitchen

#1702
2627 S Bayshore Dr #1702 | Coconut Grove
5 BD | 5 BA | 1 HB | 4,026 SQ. FT.

Features

  • Gourmet chef’s kitchen
  • Extensive glass wine cellar for wine collection
  • Wood and marble floors and details throughout
  • Service quarters with bathroom
  • Spacious terrace with expansive water views
  • Beautiful marble master bathroom suite

Grovenor House living area

 #3002

2627 S Bayshore Dr #3002 | Coconut Grove
6 BD | 6 BA | 2 HB | 6,920 SQ. FT.

Features

  • Expansive glass-walled terrace
  • Breathtaking panoramic water and skyline views
  • Italian Tiger Onyx marble floors throughout
  • Creston audio-visual system
  • Master suite with his-and-hers baths
  • Custom designed finishes and features

Grovenor house jacuzzi

 #3201

2627 S Bayshore Dr #3201 | Coconut Grove
5 BD | 5 BA | 2 HB | 7,061 SQ. FT.

Features

  • Views of the Atlantic Ocean, Biscayne Bay and city
  • Private rooftop deck with infinity pool
  • Custom imported-wood finishes throughout
  • Custom walk-in closets for a collector
  • Gallery walls with custom lighting
  • Summer kitchen
  • Staff quarters with bathroom

 


Want to learn more about this property? Contact us today to arrange your private appointment.

Saddy Delgado is a top-producing South Florida realtor savvy in every facet of the luxury real estate market. Contact Saddy Delgado at 305.632.4256 to schedule your private tour today.

Tropical Modern Splendor in Gables Estates

Arvida house

 

8950 Arvida Dr | Coral Gables
6 BD | 9 BA | 2 HB | 13,571 SQ. FT.
Price Upon Request


This elegant, newly-constructed modern manse, located in the exclusive waterfront gated community of Gables Estates, was recently sold in a record-breaking price of $921-per-square foot. Designed by renowned architect Cesar Molina, this stunning estate sits on two lush acres and is the epitome of Gables Estates luxury.

The home has six bedrooms, nine bathrooms, and is equipped with a garage that fits six cars. Built with comfort in mind, the property also has a library room, a room for an indoor tennis or basketball court, a home theatre and a luxurious cabana with sauna and spa.

 

Interior features include a foyer entry, upstairs family room, chef’s kitchen, floating staircase and elevator. The two story home is also protected with high impact doors and windows. The open balcony overlooks the pool and garden, and there is a patio for outdoor entertainment enjoyment.

 

The Architect

 

Cesar Molina is the owner of CMA design studio, a full service architecture firm that is focused on the development of luxury residential and resort properties throughout South Florida and the Caribbean. He graduated from the University of Miami School of Architecture.  His style is a blend of modern and contemporary with a hint of tropical essence. His work is inspired by the architectural style of the Caribbean, West Indies and Asia.

 

The Area

 

Located on the distinguished Arvida Drive, this estate is a part of one of the most prestigious communities in the country. Gables Estates is a peaceful and sophisticated community by the sea. Properties in Gables Estates sit near deep water canals with access to Biscayne Bay with no bridges.

 

Gables Estates is one of the most exclusive communities in Coral Gables, known for its schools, restaurants and shopping destinations. The Gables is a green haven, a city unmatched in tranquility, shade, and beauty.

 

Features

 

  • Home theatre
  • Cabana with sauna & spa
  • Chef’s kitchen
  • Floating staircase
  • Six car garage
  • Library
  • Room for tennis/basketball court
  • Elevator
  • Resort-style swimming pool
  • High impact doors and windows


Looking for your own architectural masterpiece? Contact us today to arrange your private appointment.

Saddy Delgado is a top-producing South Florida realtor savvy in every facet of the luxury real estate market. Interested in learning more about this residence? Contact Saddy Delgado at 305.632.4256 to schedule your private tour today.

A Venetian Palace in the Sky

600 Coral Way 
600 Coral Way | Coral Gables
8 BD | 10 BA | 2 HB  | 8,492 SQ. FT.
Price Upon Request

 

Truly one-of-a-kind, this three-story Coral Gables penthouse is a sprawling sky-level estate with stunning Mediterranean design and panoramic views of the golf course and beyond.

 

Located on the prestigious Coral Way, this European-inspired residence boasts eight bedrooms, ten bathrooms, Florentine ornamental motifs, and plenty of space for your lifestyle. Features include a spacious Venetian dining room with room for a dozen guests, a large kitchen with beautiful views of the Biltmore Hotel and an Italianate style gallery with exotic hardwood floors.


Owned by a well-established Florida lawyer with a love of Italian style and European antiques, the home includes marble inlay details, gold leaf ceilings and carved millwork. Every detail in the residence has been considered, including the crown molding, faucets, and light fixtures – all custom.  

 

A ride in the private elevator to the 16th floor leads to the main floor of the penthouse where double glass doors open to an impressive foyer with a Florentine table with marble details. Just beyond, the formal living room features a grand 30-foot carved stone fireplace, a focal point for a two story space that showcases the millwork throughout.

 

An elevator also leads to the lower level, which includes a service kitchen and luxury amenities including a private gym and billiard room. On the third floor, accessed by staircase, an open-air terrace with stone details boasts beautiful views in every direction.

 

Pictures don’t do this property justice, contact us today to arrange your private appointment.

 

Saddy Delgado is a top-producing South Florida realtor savvy in every facet of the luxury real estate market. Interested in learning more about this residence?

 

Contact Saddy Delgado at 305.632.4256 to schedule your private tour today.  

Mediterranean Modern

9475 Journeys End Road

 

9475 Journeys End Road | Coral Gables
8 BD | 8 BA | 2 HB | 13,102 SQ. FT.
Price Upon Request

This immaculate two-story 13,212 square-foot estate lies within the prestigious guard-gated community of Journeys End.  

 

Set on a sprawling private waterfront lot, this Spanish style home boasts six bedrooms, seven full baths and two half baths. There are also two spare bedrooms, well suited as a home office or study, and private staff quarters with a kitchenette, two bedrooms and one full bath.

 

A grand entry way with marble details leads welcomes guests, where entertaining is easy with a 12-person dining room, spacious living room, game room, and numerous outdoor terraces. Full of designer finishes, the home boasts marble details, dark wood cabinetry, custom lighting, and marble fireplaces.

 

Designed with comfort and convenience in mind, luxury features include a state-of-the-art gym, sauna, and elevator. The home is also equipped with with spacious garage, full house generator and motorized shutters.

 

The property grounds feature landscaped gardens, a resort-style pool, and a dock fit for a yacht.

The Area

Journeys End is an ultra-exclusive guard-gated, waterside enclave just off of Old Cutler Road in Coral Gables. The neighborhood features a collection of just 18 estates alongside luxury community amenities. Nicknamed “The City Beautiful” Coral Gables is one of the most desirable communities in South Florida for its lush environment and distinct homes and amenities.

 

Filled with tropical foliage and canals leading to the crystal blue waters of Biscayne Bay, Journeys End is an enchanting neighborhood with a unique quality. Community luxuries include tennis courts and a marina with private boat slips and no bridges to the bay. Situated on the edge of Coral Gables it a short drive to Biscayne Bay, downtown Coral Gables and Coconut Grove. Located in the area are some of Miami’s finest private and public schools, services and cultural destinations.

9475 Journeys End Road

Features

  • Full home automation system and security system
  • Five and three-car garage
  • Home office
  • State-of-the-art gym and sauna
  • Staff quarters with kitchen and bedroom/bathroom
  • Basement
  • Elevator
  • Outdoor terraces
  • Landscaped grounds with lighting and irrigation
  • Resort-style pool
  • Full house generator and motorize shutters


Own this unique Journeys End property! Contact us today to arrange your private appointment. Saddy Delgado is a top-producing South Florida realtor savvy in every facet of the luxury real estate market. Interested in learning more about this residence?

 

Contact Saddy Delgado at 305.632.4256 to schedule your private tour today.

Mediterranean Elegance

630 Leucadendra Drive

 

630 Leucadendra Drive | Coral Gables
7 BD | 9 BA | 2 HB | 12,098 SQ. FT.
Price Upon Request

Located within the exclusive Gables Estates community, this Mediterranean compound offers a rare combination of privacy and grandeur on the water.This resort-style home conveys classic elegance throughout 12,098 square feet of interior luxury living space on a 70,461 square foot lot accentuated by South Florida’s tropical landscape.

 

The 7-bedroom, 9-bathroom residence is complete with high-end design features including a state-of-the-art gym, gourmet chef’s kitchen, wine cellar and staff quarters. The master suite includes sitting area overlooking the grounds, a massage room and a spacious en suite bathroom with walk-in closet.
Optimized to enjoy an outdoor lifestyle, the grounds feature landscaped gardens with over 500 orchids, a beautiful pool, and a gazebo with a summer kitchen and mosquito system – for outdoor enjoyment year-round.

 

Set on a wide, deep-water canal, this waterfront estate is a yachtsman’s dream. The residence boasts 200 feet of waterfront with a dock and easy access to the open waters of Biscayne Bay and the Atlantic Ocean.
Wired to be technologically optimized this smart home is the ultimate in convenience. Residents benefit from LED lighting throughout, an automated lighting and irrigation system in the garden and a full security system. Car enthusiasts can also safely store collectibles in the garage, outfitted with lifts to store up to six cars.

The Area

Gables Estates is a chic guard-gated, waterside community nestled on the water’s edge of Coral Gables. One of the most desirable communities in South Florida, Coral Gables has earned the title of “the City Beautiful” for its lush environment and distinct homes.
Originally developed in the 1960s, Gables Estates encompasses over two hundred acres of the Gables shoreline with wide, deep-water canals. By land the community is in close proximity to Biscayne Bay, downtown Coral Gables and Coconut Grove. Gables Estates is also home to some of the top public and private educational institutions as well as the University of Miami.

Features

  • Full home automation system and security system
  • Air conditioned four-car garage
  • LED lighting throughout
  • Wine cellar
  • Gourmet kitchen with double Viking oven and Sub-Zero fridge/freezer
  • Home office
  • State-of-the-art gym
  • Staff quarters with bathroom and staff lounge
  • Outdoor rooftop terrace
  • Landscaped grounds with lighting and irrigation
  • Gazebo with summer kitchen and guest suite
  • Full house generator
  • Mosquito system


Own this iconic Coral Gables property! Contact us today to arrange your private appointment.

 

Saddy Delgado is a top-producing South Florida realtor savvy in every facet of the luxury real estate market. Interested in learning more about this residence? Contact Saddy Delgado at 305.632.4256 to schedule your private tour today.

Magnificent Lakeside Retreat

 

10100 Lakeside Drive

 

10100 Lakeside Drive | Coral Gables
6 BD | 5 BA | 2 HB | 9,113 SQ. FT.
Price Upon Request

 

Set on a sprawling 1.5-acre corner lot, this elegant lakeside estate is a peaceful retreat in the desirable gated neighborhood of Snapper Creek.

 

Ideal for entertaining, the home has a spacious open plan that incorporates a central patio, reception rooms and grand indoor/outdoor spaces overlooking surrounding flora – including beautiful 100-year-old trees.

 

Features include a gourmet kitchen, dining room with fireplace, entertainment room and a grand master suite. Built with craftsmanship and detail in mind, there are marble and wood floors, designer fixtures and custom cabinetry throughout. With six bedrooms, five bathrooms and two half baths, there is plenty of room for everyone at this two-story Mediterranean lakeside residence!

 
10100 Lakeside Drive

 

 

Nestled between Biscayne Bay and Pinecrest, Snapper Creek is a peaceful enclave populated with beautiful shade trees and tranquil waterways. Located within minutes are some of the area’s finest schools, excellent shopping centers and Fairchild Tropical Gardens. Just ten minutes to the north, Old Cutler Road provides easy access to South Miami, Coconut Grove, Vizcaya Museum & Gardens and much, much more.

 

Want to learn more about this property? Contact us today to arrange your private appointment.

 

Saddy Delgado is a top-producing South Florida realtor savvy in every facet of the luxury real estate market. Contact Saddy Delgado at 305.632.4256 to schedule your private tour today.

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