Gloria Estefan to rent out guest house for 30K a month

 

From left: Gloria Estefan, her guest house and main house

Instead of “Turn the Beat Around,” Gloria Estefan might be saying “Turn the rent over” — if you move into her 4,500-square-foot Miami Beach guest house.
The singer is renting out the three-bedroom, three-bathroom house for $30,000 a month, TMZ reported. It also has a Jacuzzi and private entrance. South One Realty Services is listed as the agent on the property.
Her main house is a 9,854-square-foot mansion on the star-studded Star Island Drive, with seven bedrooms and six bathrooms, the website said. Don Johnson, Sean Combs, Julio Iglesias and Enrique Iglesias also have homes in the private Star Island neighborhood.
Estefan said last month she hopes the $20 million restoration of Miami Marine Stadium takes boaters into account, as previously reported.  Mark Maurer

For any of your real estate needs in Miami, please call Debbie Lazoff at 305.903.0118 or debbielazoff@Gmail.com.
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Miami Beach Hotel Reopens as Hilton Cabana

                 

      

Hilton Cabana Miami Beach at 6261 Collins Avenue

The Hilton Cabana Miami Beach, renovated from the former Allison Hotel, plans to open its doors in December.
The 10-story resort at 6261 Collins Avenue, near 62nd Street along Billionaire’s Row, will have 231 guest rooms, most of which will have balconies with views of the either of the two pools below, Hotel Chatter reported. After the Dec. 16 soft opening, rates will begin at $279 for a king-sized room on the lower floors and $329 for an oceanview room.
The Art Deco hotel will feature a lobby bar, a business center, fitness center and all-day dining spot.  Mark Maurer

For more information on south florida real estate please call Debbie Lazoff at 305.903.0118, debbielazoff@gmail.com or visit www.debbielazoff.com

Porsche Tower, a one of a kind condo in Sunny Isles

Billionaires in the Porsche tower: a new kind of condo politics

 

Condominium politics could be changing forever in South Florida.
The world’s richest individuals — all billionaires — have inked deals for nearly two dozen of the 132 units in the Porsche Design Tower going up in Sunny Isles Beach. And the developer of the 57-story tower, Gil Dezer of Dezer Porperties, is traveling half way around the world next month to pitch the last 30 or so homes to a few hundred other really wealthy folks. Like the 38-year-old Dezer, they own Bugattis — a tres’ expensive French sports car — and they get together every year for a meeting — this year in Dubai for a road rally through the United Arab Emirates.
The odds of this real estate scion — dad Michael started out in New York — closing a few sales during his time in the Middle East are pretty good. After all, Dezer hung tough during the last boom-and-bust cycle and eventually sold out the six Sunny Isles Beach skyscrapers that he built with the Trump family.
(Wells Fargo apparently believes in the developer — or at least the Porsche project — too. The San-Francisco-based financial giant is ponying up a construction loan of $214 million, a mere fraction of its $1.3 trillion in assets, for the building, which should be finished by 2015.)
Of the billionaires that Dezer already has in the bag, not one has been identified — two are from Russia — and their names might never be known because so many of the well-heeled make their purchases through limited liability corporations.
Right now, though, numbers are more important than names and countries. If Dezer wrangles in more billionaires on his trip, the Porsche Design Tower will be in the running for the South Florida condo project with the highest number of ultra-wealthy homeowners. Billionaires would control nearly 17 percent of the condo association votes.
Then, throw in the mere millionaires with the billionaires. The combination has the potential to make for some dynamic board of directors meeting and unmatched “condo commando” politics that could make the budget talks in Washington seem tame.
Just imagine how much fines will have to be to keep billionaires from breaking the condo rules. Five figures? Six figures? It’s anybody’s guess.
But the politicking won’t be just inside the tower. The “haves” don’t often go unnoticed these days by the “have-nots.” The Occupy Wall Streeters could show up. Think the Sunny Isles Beach police department has an action plan to handle sit-ins on Collins Avenue in the heart of the winter tourism season? Probably not.
Yes, there’s going to be a seismic shift in condo politics when the billionaires start moving into the Porsche tower. But there undoubtedly will be more — as developers keep one-upping each other in the luxury market.
By Peter Zalewski            
For information on Porsche Tower, call Debbie Lazoff at 305.903.0118, debbielazoff@gmail.com or visit website at www.debbielazoff.com
 

Broken records! Home sales set benchmarks left and right

    
By Melanie Gray            

In the last 18 months, Miami has turned into a real estate record-breaking machine. Sears CEO Eddie Lampert kicked off the madness in March 2012 when he paid $38 million for a villa in Indian Creek — the most ever for a single-family home. Only five months later, in August, a Russian mystery buyer ponied up $47 million for a compound just a few doors down.
And the eye-popping prices just keep coming. This year started with a pre-construction condo sale that made history. An anonymous American forked over $34 million in March for two side-by-side triplex penthouses in developer Ian Schrager’s Residences at the Miami Beach Edition. The old record, set only in January: $27 million for a penthouse at the Setai. Now, read on for more records:

Residences at W South Beach

A 497-square-foot condo at The Residences at W South Beach sold for $1.45 million in less than 24 hours, setting two Miami-Dade records — the fastest deal and the most ever paid for a studio or a one-bedroom. The per-square-foot cost works out to $2,917. Michael Light of Keller Williams had the listing. The buyer: a corporation linked to a Russian investor.

Castello del Sol

An 11-bedroom estate called Castello del Sol sold for $30 million, making it the most expensive home on Miami Beach’s La Gorce Island. An unnamed European corporation bought the mansion from a seller that paid $12.45 million for the property in 2001. Jill Eber and Jill Hertzberg of Coldwell Banker had the listing; Esther Percal of EWM Realty International acted as the sales agent.

Fendi mansion

The über-contemporary mansion of fashion designer Luca Fendi sold for $14 million, a record for the Venetian Islands. Fendi paid $5.52 million two years ago for the 8,030-square-foot villa, on man-made Di Lido Island in Biscayne Bay. Coldwell Banker, which brokered both sides of the deal, declined to name the buyer.

The PMG parcel

Property Markets Group, a New York-based developer, paid $30 million for less than an acre of oceanfront in Sunny Isles Beach. PMG and partner S2 Development of Aventura purchased the 0.85-acre parcel from Palermo Beach LLC in Aventura. Engle & Volkers’ Mario Borda brokered the sale.

Apogee South Beach

Apogee South Beach set a new price record for a non-oceanfront unit in Miami-Dade County: $12.4 million. The apartment has 4,154 square feet, which puts the per-square-foot cost at $2,985. Carlo Gambino of Douglas Elliman represented the seller and Jill Eber of Coldwell Banker represented the buyer; Gambino declined to disclose the identities of the buyer and the seller.

North Bay Road mansion

A Miami Beach mansion with a batting cage indoors and a Zen garden outside sold for $30 million, netting a $15 million profit for its owner — New York Yankees slugger Alex Rodriguez —and setting a price record for the city’s North Bay Road. Rodriguez bought the nearly 20,000-square-foot property in May 2010 for $7.4 million and spent another $7.6 million on renovations. The buyer: a celebrity who also has a home in Palm Beach.

“Real Housewives” star Joanna Krupa buys Millennium condo

            

                                                 

Millennium Tower condo unit 42C (Inset: Joanna Krupa)

“Real Housewives of Miami” star Joanna Krupa bought a 2,100-square-foot condominium at the Millenium Tower Residences at 1425 Brickell Avenue in Miami for $1.4 million.
Krupa and her husband Romain Zago inked the deed last month after receiving a $1.1 million mortgage. The 42nd-floor unit was built in 2003 and features marble floors, Murano glass cabinets and floor-to-ceiling windows.
The Bravo reality show followed the couple as they moved from a waterfront home they had rented in Miami Beach. Gossip Extra — Mark Maurer

PortMiami gets giant cranes as part of $2B improvements

Machines to handle cargo vessels en route to Panama Canal

PortMiami cranes (Credit: Daniela Pellicciotti of Condoideas Realty Group via Curbed)

PortMiami received four new cranes yesterday that approach the height of a 25-story building as a part of a $2 billion federal grant for port improvements.
The 262-foot-tall cranes, which will cost a total of $39 million, arrived from Shanghai for the purpose of handling huge container cargo vessels that will pass through the Panama Canal after the expansion in 2015. The proposed $220 million dredging of PortMiami’s shipping canal will allow post-Panamax ships to stop in Miami for the first time. That project is expected to start next month and be done in time for the Panama Canal to finish its renovation.
Part of the port-improvement plan is an ongoing tunnel project that would link Port Miami to the interstate highway system, as previously reported. Miami Herald— Mark Maurer

For more information about the South Florida Real Estate Market, contact
Debbie Lazoff
305-903-0118
www.debbielazoff.com

Versace mansion's new owneris thinking about using it as memorial

Museum exhibit added Nakash's list of ideas for $41M estate

                                             

Gianni Versace mansion at 1114 Ocean Drive in Miami Beach

The Nakash family, which acquired the former Gianni Versace mansion in Miami Beach at an auction last month for $41 million, may turn it into an exhibit or museum dedicated to the late designer.
“We don’t have any definite plans yet because it’s brand new. We have lots of ideas. An exhibit or a museum is one idea,” Jonathan Bennett, Nakash real estate director, told the South Florida Business Journal. “We bought it because it’s magnificent, iconic and part of the history of Miami.”
Jordache Enterprises mogul Joe Nakash, of Jordache jeans fame, has also expressed interest into converting the home into a hotel and temporarily hosting a retailer such as Apple of Victoria’s Secret, as The Real Deal reported last month.
At the Sept. 17 auction, Nakash, in a partnership with New York investor Eli Gindi, beat out rival real estate mogul Donald Trump after his son Eric made a final bid of $41 million.
The 23,000-square-foot, 10-bedroom mansion at 1116 Ocean Drive, originally known as Casa Casuarina, was first listed for $125 million, but then saw the price drop to $75 million.South Florida Business Journal— Mark Maurer

For information about South Florida real estate, contact me
Debbie Lazoff
www.debbielazoff.com
305.903.0118