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Scott Storch's Miami Beach Luxury Home on Palm Island Sold On The Cheap
A great deal was made last week on a property on Palm Island, known as Villa Ferrari, recently owned by music producer Scott Storch. Storch bought the home in 2006 for $10,500,000, but subsequently fell on hard times, and the property was foreclosed by Suntrust Bank in June 2009. Last week, Suntrust sold it to Weiner Russell Trust for $6,750,000.
February 16, 2010 by Alex Shay in Miami Beach Insider Blog
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Credit Suisse New Owner Of Miami Beach Gansevoort South Hotel
Credit Suisse took ownership of the Gansevoort South Hotel in Miami Beach last Thursday, after a New York auction produced no bidders for the 334 room, trendy South Beach resort. The previous owners, father and son team William and Michael Achenbaum tried, unsuccessfully, to find a buyer for their $89 million outstanding loan, before the foreclosure took place last week.
February 10, 2010 by Alex Shay in Miami Beach Insider Blog
photo courtesy of AP
South Beach Burger King To Sell Beer & Burgers
South Beach Burger King will soon open a restaurant with a Whopper Bar, where customers will be able to buy a beer and a burger. A whopper combo, including a burger, Anheuser-Busch or MillerCoors beer, and fries will cost $7.99 at the Miami Beach restaurant.
January 25, 2010 by Alex Shay in Miami Beach Insider Blog
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Miami Condo Prices At Icon Brickell Continue To Fall
Miami condo owners, who have listed their condos for sale, have all become acutely aware of the steep fall in value of their apartments. The over development of many huge buildings with hundreds of apartments, and no buyers, along with the foreclosures of thousands of other condos in Miami, has brought the condo market to it's lowest level in memory.
January 19, 2010 by Alex Shay in Miami Beach Insider Blog
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Miami Beach Commissioners Say No To Dolphin Stadium Tax
Dolphin Stadium, as Miami residents well know, will host the Superbowl for a record 10th time next month. The Superbowl is a real boon for the city, which has not only experienced the effects of the long lasting recession, but has also seen real estate prices fall dramatically over the past few years, and people forced out of their homes by foreclosure.
January 19, 2010 by Alex Shay in Miami Beach Insider Blog
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Miami Watson Island Developer Buys Another Month
"I think that with this letter we achieve half of what we set out to do last week, and that is to have Flagstone current on payments to the City of Miami," Flagstone attorney Alexander Tachmes of Shutts and Bowen, recently wrote to Miami city officials.
January 7, 2010 by Alex Shay in Miami Beach Insider Blog
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Bank Of America Tower Renamed Miami Towers
Ranked the third highest skyscraper in Miami and Florida, the Bank of America Tower at International Place, formerly the CenTrust Tower, will soon have a new name. Effective January 1, 2010, the building will be named Miami Towers.
January 1, 2010 by Alex Shay in Miami Beach Insider Blog
Indian Creek Island Home To Victoria's Secret Model Adriana Lima
Indian Creek, an exclusive island just north of Miami Beach, has recently become home to Brazilian Victoria's Secret model Adriana Lima and her husband, professional basketball player Marko Jaric.
December 29, 2009 by Alex Shay in Miami Beach Insider Blog
Miami Beach Loews Hotel Plans $35 Million Renovation
The Loews Hotel in Miami Beach, located at 1601 Collins Avenue, is one of 18 hotels in the USA and Canada, operated by the New York based company, and is arguably one of the finest hotels in Miami, with 790 rooms, including 50 luxury guest suites, 2 presidential suites, and 6 restaurants and bars.
December 29, 2009 by Alex Shay in Miami Beach Insider Blog
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Venetian Islands Luxury Home Finally Priced To Sell
The Venetian Islands, located in Miami Beach, stretch to Miami across a span of 7 bridges called the Venetian Causeway, the oldest of metropolitan Miami's causeways, as well as one of the most charming areas in Florida. The 6 Venetian Islands are surrounded by Biscayne Bay, and feature amazing views of the water and downtown Miami, not to mention some of the finest luxury homes in Miami Beach.
December 29, 2009 by Alex Shay in Miami Beach Insider Blog
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South Beach's Gansevoort Hotel Up For Auction
Miami Beach has certainly seen it's share of economic turmoil during the past few years, and on January 28, one of it's stellar hotels, The Gansevoort South, located at 2377 Collins Ave, now in the foreclosure process, is going to be auctioned to the highest bidder.
December 14, 2009 by Alex Shay in Miami Beach Insider Blog
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Beachfront Realty Home Sales Show Improving Real Estate Market
Home sales are improving in Miami, and the numbers tell the story. Beachfront Realty, one of the largest privately owned real estate firms in the State of Florida, with 3 offices, and more than 1,500 real estate agents, closed more than $56,000,000 in sales last month.
December 3, 2009 by Alex Shay in Miami Beach Insider Blog
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Miami Beach Home Sold For $8,000,000
Miami Beach luxury homes are slow to sell these days, but yesterday a waterfront estate located at 4949 Pinetree Drive sold for $8,000,000.
November 13, 2009 by Alex Shay in Miami Beach Insider Blog
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Star Island - Miami's Most Prized Real Estate
Star Island in Miami Beach is home to the stars, and is one of the most exclusive communities in Florida.
October 28, 2009 by Alex Shay in Miami Beach Insider Blog
Miami Real Estate Undergoes Changes
Miami Real Estate is undergoing some changes that are truly mind boggling. Some homes are selling for remarkably high prices, given today's economic climate, while others are selling at prices well below market value; and some sellers still don't get it.
September 22, 2009 by Alex Shay in Miami Beach Insider Blog
Fontainebleau Miami Deep In Debt
Miami Beach's Fontainebleau Hotel may face a judgment of default on unpaid contractor bills....
September 11, 2009 by Alex Shay in Miami Beach Insider Blog
Village With Patrick Ahearn: Miami Beach's Design District
Village: Miami is the second installment of a 3-part series following Patrick Ahearn around the U.S. to different "Villages"in search of the rich history and architectural ideas that went into the creation of these landmark places. In this episode, Patrick Ahearn visits the historical design district in Miami Florida.
March 6, 2009 in Local Life
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Miami Real Estate Market Sees Spark Of Light
Miami real estate has undergone its share of turmoil in the past few years, and many homeowners have suffered as a result. However, there are signs that a bottoming out is taking place right now, at least with respect to the sale of single-family homes in the Miami area.
September 2, 2009 by Alex Shay in Miami Beach Insider Blog
Foreigners Seek Miami Real Estate and U.S. Residency
Miami real estate is beginning to get a lot of attention from foreign nationals seeking permanent residency in the United States, according to a report yesterday by Monica Hatcher, a writer for the Miami Herald.
August 19, 2009 by Alex Shay in Miami Beach Insider Blog
miamibeachluxuryrealestate.blogspot.com
Miami Beach Castle Burns To The Ground
Once there was a man who built a castle on North Bay Road in Miami Beach. His name is Michael Burke Sr, the owner and founder of Windjammer Barefoot Cruises, a now defunct company he originally started in 1947.
July 21, 2009 by Alex Shay in Miami Beach Insider Blog
Sue Hostetler Takes Us Through Temple House
Host Sue Hostetler visits an extraordinary home in Miami Beach - a 16,000 square ft. former art deco synagogue.
December 10, 2008 in Watch Video
miamibeachluxuryrealestate.blogspot.com/
Shaquille O'Neal's House On Star Island Sold To Naomi Campbell's Billionaire Boyfriend
Shaquille O'Neal's house on Star Island, Miami Beach, one of the most exclusive locations in Florida, sold and closed on Tuesday for $16,000,000. The 2-story architectural masterpiece was previously owned by former Miami heat player Rony Seikaly, who sold it to Shaq. According to published reports, the property was purchased by super-model Naomi Campbell's billionaire boyfriend, Vladislav Doronin.
June 26, 2009 by Alex Shay in Miami Beach Insider Blog
Casa Casuarina
Rich in beauty and tradition, Casa Casuarina is one of Miami Beach’s most notorious properties. Famed for its history (former owner Gianni Versace was shot on property) and exclusivity (it’s now a members-only club renting out at $25,000 plus), it’s also one of the Beach’s biggest mysteries. Miami Beach Short Stories takes you inside the gates.
August 12, 2007 in Watch Video
miamibeachluxuryrealestate.blogspot.com
Miami Beach Real Estate Foreclosure - Scott Storch's House
Miami Beach real estate foreclosures are happening far too often these days, and Scott Storch' s house on Palm Island, named Villa Ferrari, is next. The Miami Beach mansion, 18,000 square feet of house on a 30,000 square feet lot, located at 70 Palm Ave., will be auctioned off at the Miami Courthouse in downtown Miami this Friday, June 26.
June 24, 2009 by Alex Shay in Miami Beach Insider Blog
Miami Monastery
Smack dab between Miami's Art Deco and contemporary buildings and the hundreds of cranes used to build them (will the construction ever end?) is a tenth century Spanish monastery. Plum’s Jonathan Vigliotti takes us inside the 874-year-old building in this edition of Plum Assignment.
July 29, 2007 in Local Life
Miami Beach Real Estate For Sale - Luxury Homes Are Plentiful
Miami Beach real estate sales have been sluggish for almost 3 years, and the trend continues today. Some sellers are still asking buyers to pay $1,000 or more per square foot of interior living space, in areas where waterfront homes are selling for more like $700 per square foot.
June 22, 2009 by Alex Shay in Miami Beach Insider Blog
Saving Art Deco
This week, ON Assignment takes us into the heart of Miami Beach's historic Art Deco District. Learn about the architectural design and the people behind the movement to preserve the buildings.
August 30, 2007 in Local Life
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Miami Beach Glass House Sold For $5.6 Million
Miami Beach luxury real estate buyers are trickling back into the marketplace this month, as evidenced by more showings of luxury homes, more pending sales, and more closings. Last week, a beautifully updated Miami Beach home on Lakeview Court sold for $5,600,000.
January 8, 2010 by Alex Shay in Miami Beach Insider Blog
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Miami Luxury Homes Sold For Bargain Basement Prices
Miami luxury homes have been selling at a snail's pace in the past few years, with only 42 luxury homes with water frontage, sold in greater Miami Beach in 2009. Miami and Coral Gables have also experienced dismal home sales and huge price drops. All of this points to a bottoming out of the luxury real estate market in Miami. More luxury home buyers have re-entered the marketplace, and more sales are closing.
January 13, 2010 by Alex Shay in Miami Beach Insider Blog
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