Miami Estate of the Day: Bay Point $5,450,000

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A Sanctuary of 28 homes on this exclusive private island. Spectacular 2 story Mediterranean 1 acre + Bayfront estate with a grand entrance featuring over 15000 SF situated on Biscayne Bay.  Enjoy the elegance of this home with large spaces, oversized bedrms with full bathrooms, volume ceilings, gorgeous porte-cochere entrance & foyer leading to amazing water views. Private elevator, huge his/hers walk in closets in the master bedrms, spacious master bath sauna, whirlpool. Enjoy all Tahiti Beach amenities.

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Jackie Gleason’s Miami Mansion Hits the Auction Block

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In the mid-1960’s, New Yorkers lost Jackie Gleason to Miami Beach when he moved his TV show there. And there it stayed, to the joy of that city’s economy, for seven years. Top Ten Real Estate Deals writes that “Jackie was one of television’s biggest stars, and bringing him to Miami meant more prestige and more vacationers.”
The climate apparently agreed with Mr. Gleason as he never returned to New York City to live, instead settling in Florida for the rest of his life. He remained comedic even after that life ended, choosing for his tomb’s inscription his TV show’s famous tagline: “And away we go.” But before he went, Gleason bought himself a tremendous mid-century Florida home: 9,250 square feet, including 5 bedrooms, 5 bathrooms and a screened pool deck to keep out those pesky tropical insects but let in all that delicious tropical sunshine.

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For Miami Real Estate, Better To Be A Foreigner

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By Kenneth Rapoza
It’s not that Miami isn’t welcoming to Americans, or that developers prefer Brazilians. They don’t. But in this global city today, the big real estate buyers are all from abroad. And one of the reasons, especially when it comes to new developments, is the sales model. “Latin Americans and Europeans are used to paying in cash for real estate. American’s are not. What we’re doing with our Brickell House property in Miami is telling people that they can pay us quarterly while the project is being built so that by the time it is done in two years, you have paid for almost 70% of your home,” says Harvey Hernandez, chairman of the Newgard Development Group, a luxury property developer in Miami. “This is the best way to buy it. Or you can wait for the project to be complete, like Americans do, and pay about 40% more,” he says. They pay-as-they-build sales model is popular in Latin America. It’s not unusual to see new residential high rises going up in São Paulo with floors being sold before the roof of the building is even in place.  For Brazilians, in particular, Miami is their second or third home. Real estate prices in upscale beachfront property in Rio de Janeiro, for example, is more expensive than it is in Miami, a city in a developed country with all the bells and whistles.

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Miami Estate of the Day: Bay Point $5,450,000

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Built in 1996, A Tropical Mediterranean Masterpiece. 8,700+ Square Feet of Luxury. 7 Bed / 7.5 Bath, situated on 105′ of the sought after Deep Water Estelle River in Exclusive Harbor Beach. Custom Ironwork, Custom Woodwork, Chef’s Kitchen and Beyond, Elevator, Dual Marble Staircase, Master Suite with Veranda, Bi-Level Pools with Swim Up Bar and Separate Jacuzzi, Cigar and Wine Room, ‘Lighthouse Guest Suite with Crow’s Nest’, Trex Dock, Two Power Stations, Diesel Generator AND ‘ can ‘ include a 57’ Uniesse Cruiser !

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List of Improving Housing Markets Grows: Miami #3

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By Melissa Dittmann Tracey
The list of housing markets showing signs of improvement in home prices and overall market conditions in February has grown to nearly 100 cities, according to the National Association of Home Builders/First American Improving Markets Index. The index reveals metro areas that have shown improvement in home prices, housing permits, and employment for at least six straight months. In the latest index, some markets that were particularly hard-hit during the housing market crash — such as Miami and Detroit — were added to this month’s list. Such cities are seeing a turnaround in their sluggish housing markets, possibly already hitting bottom. “Despite the many challenges that continue to drag on the housing recovery — including the tight lending environment for builders and buyers — improving conditions are slowly but surely spreading from one housing market to the next,” Bob Nielsen, NAHB chairman, said in a statement. The 29 metro areas added to the list this month are:

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Miami Estate of the Day: Bay Point $5,450,000

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Built in 1985, this secluded in a park-like setting deep within the legendary Las Olas Isles section of Fort Lauderdale, the Bontona Peninsula estate offers its new owner wide water views of New River from several ideal vantage points, as it is set on one the few true point lots in the area. Far from an ordinary waterfront property Bontona Peninsula boasts an incredible 650+ ft of prime waterfront along the banks of South Florida’s most famous natural waterway, New River, providing dockage for a true mega-yacht.

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Would Casinos Hurt Miami’s Art Scene?

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By Jordan Melnick
Like a handful of similarly cash-strapped states, Florida is currently considering legislation to greatly expand gambling there. In part thanks to formidable opponents like the Florida Chamber of Commerce, the Florida Baptist Convention, and Disney World, the proposal stands a decent chance of dying on the vine during this year’s 60-day legislative session, which ends March 9. But that didn’t stop Malaysian casino giant the Genting Group from purchasing 30 acres of property on Miami’s Biscayne Bay, including the Miami Herald’s current headquarters for $236 million, back in May. Genting’s plans for the site are grandiose: Resorts World Miami would comprise four hotels, two condo towers, more than 50 restaurants and bars, a luxury retail shopping “galleria,” a 3.6-acre rooftop lagoon, and – legislation permitting – a casino on 10 million square feet of prime downtown real estate. Considering the scale of the project, it’s no surprise that it’s elicited strong reactions within Miami. Some independent businesses in and around downtown hear “50 restaurants and bars” as a death knell. Others hear the cha-ching of increased tourist dollars. Some politicians see it as a job engine, others as a traffic nightmare. Such dichotomies are common when a casino tries to come to town. But in Miami there is also a question of how gambling expansion will affect the arts?

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Miami Estate of the Day: Bay Point $5,450,000

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Built in 1970, Bay front residence in Bay Point with 6,560 SF of living space, and 23,100 SF +/ of finely manicured grounds. Double door opens to large master suite featuring outdoor sitting area. With 3 more bedrooms, game room and study/library complete the second level. Large pool with fountains and covered cabana with grill area. Direct access to Atlantic Ocean, this is a one-of-a-kind yachter’s paradise. Bay Point is easy access to Miami airport, South Beach and downtown.

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Greater Miami housing sales set record in 2011

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By Ina Paiva Corlde
International buyers spurred Miami-area home sales to a new record in 2011, even exceeding sales volume during the height of the real estate boom in 2005, according to figures released Friday. Broward County results were mixed, although inventory across both counties showed widespread depletions. A total of 24,929 condominiums and homes were sold in Miami-Dade County, up 46 percent from 2010 and up 4 percent compared to 2005, according to the Miami Association of Realtors and the Southeast Florida Multiple Listing Service. Condominiums sales surged 54 percent, to 15,009 in 2011, and home sales rose 36 percent to 9,920.“We’re on the verge of a real estate boom,” said Miami Association of Realtors Residential President Patricia Delinois, citing an array of properties from the Design District and Brickell to Miami Beach. International investors, with wads of cash, are behind the surge.“Miami is a top market for international buyers,” Delinois said. “We are attracting people from Latin America, South America, Europe, all over the world. What could they not like in Miami? In December, sales of existing single-family homes in the Miami area jumped 16 percent, compared to December 2010. Sales of condominiums rose 22 percent. Those percentage increases beat the change in sales statewide, which dropped 2 percent for both condominiums and single-family homes. Nationally, sales of existing single-family homes, town homes, condominiums, and co-ops rose 3.6 percent from December 2010, according to the National Association of Realtors.

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Miami Estate of the Day: San Marino $7,950,000

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Built in 1938, Luxury 105 feet of waterfront gated with 10,000 LB. boat lift, jet docks, infinity edge pool, outdoor kitchen, generator, 2 CAR GARAGE, marble floors throughout, marble baths, wood floors in bedrooms. Home was completley remodeled in 2007 and ready for that demanding tenant.

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