Inside A One-Of-A-Kind Oceanfront Home On Miami Beach | Listed For $37.5 Million Posted on April 17, 2024April 21, 2024 by Sarah Elles Boggs Despite what its reputation would lead you to believe, Miami Beach is not full of beachfront homes. Sure, there are many options for beachfront hotels and luxurious condo offerings, but those who are searching for beachfront single-family homes need to begin their search farther north in Golden Beach, where there are a few select purchase opportunities… until now. The Shore Club Private Residences, a historic redevelopment of the iconic hotel at 1901 Collins, designed by Robert A.M. Stern Architects is set to offer the first single family residence on the Miami Beach sand. While details of this monumental project are purposely scarce, we have been able to learn about their on-of-a-kind residence that is offered for $37.5 million. Rendering of The Shore Club Beach House The Shore Club Beach House Entering into the stunning glass-enclosed triplex home, you find a discreet private entrance on the first floor that enters into a beautiful wide-open gallery filled with bright natural light. The great room offers panoramic views of the ocean and a dramatic 3-story glass staircase. An expansive 66-foot loggia with an outdoor wet bar is just steps away with an outdoor living space as well as a fitness area. Two guest bedrooms are located on the first floor with a more private owner’s suite on the second floor. This is where you will find the main living area and the primary bedroom suite. On the rooftop, owners will enjoy a rooftop terrace with a private infinity-edge swimming pool and a sunset terrace. In total, the home offers 6,051 interior square feet with four bedrooms, four full bathrooms and three powder rooms. Each of the rooms are designed to be of immense size, making way for large-scale paintings or sculptures. “This is the first single-family home built in the sand in Miami Beach and on top of that it’s a Robert A.M. Stern custom-designed home directly on the water and you have all the amenities associated with the Auberge resort and the residences. There is not another house like this in all of Miami Beach,” The Shore Club Private Residences’ Sales Director told Mansion Global. Rendering of The Shore Club Residences Pool Entry The Shore Club Amenities As The Beach House is an exclusive part of The Shore Club Private Collection, owners will experience all of the services and amenities of Auberge Resorts-managed property. On days when the owners are feeling slightly more social, they can venture over to the private residential pool that is set in a lush garden surrounded by private cabanas and a poolside bar. There is a 24-hour reception and concierge services, a spa and beach club, fitness club with a second private gym and personal training suites, a children’s play area, and signature Auberge restaurants that include a café bar, poolside dining or in-residence catering. The Shore Club Private Collection As we have previously covered, The Shore Club Private Collection is a proper redevelopment of the iconic hotel including the neighboring Cromwell Hotel. Robert A.M. Stern has envisioned a new era for the historic property that includes a new glass-enclosed 200-foot tower of private residences solely for the global elite. No two residences in the private collection will be exactly alike but will range in size from 2,400 square feet up to 7,000 square feet. In total, there will be just 49 residences including the Beach House and a rooftop penthouse that recently went into contract, asking a staggering $120 million. The developers, Monroe Capital and Witkoff, are being purposely scarce with details of their new exclusive collection citing the privacy as an added amenity of the project. Specifics are only being released to approved buyers and brokers. Douglas Elliman is the exclusive broker for The Shore Club Private Collection. If you are interested in an invitation to consider this home or the project, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Images courtesy of: The Shore Club Private Residences Rendering of Shore Club Private Residences Miami Beach Pool Area
2024 Coconut Grove Real Estate Values | Year-Over-Year Numbers Posted on March 7, 2024March 7, 2024 by Michael Light I am pleased to share with you my annual Coconut Grove statistics report highlighting that, yet again, Coconut Grove has outpaced a cooling national real estate market by setting new, all-time records across multiple categories! Herein, I have compiled and analyzed the 2023 statistics, per MLS data, by hand-calculating the stats to ensure they are accurate for our readers. This information allows you to see for yourself the market trends in our community. I would also like to note the reason I have been so passionate and adamant about publishing the Coconut Grove sales analytics annually for the past 10 years is that I am a Groveite through and through. I truly care about the health of our community and helping my neighbors, and future neighbors, fully understand where the Grove housing market has been and the direction it is headed. Further, the Grove holds a dear place in my heart for an array of reasons…I met my wife in the Grove 15 years ago, we got married at St. Hugh with our reception held at the historic Villa Woodbine, I am currently the Executive Director of luxury Sales at Douglas Elliman Real Estate in our Two CocoWalk office, my wife and I have lived in Coconut Grove together for 13 years and are raising our daughter and 2 rescue dogs in our home in North Grove. The overall market in South Florida exploded in 2021 and continued in 2022 due to an enormous influx of buyers from New York, Chicago and L.A. because of our favorable tax rates, Covid and “the way that Florida is being run” – (that last one being the most popular answer when asking buyers “why Florida?”). Then, in 2023, our neighborhood shattered all previous years. Many people believed we had truly hit the “top” of the market in 2022 and it would be impossible to continue…well, those people were wrong. The Coconut Grove real estate market had increased year-over-year for 9 consecutive years until it exploded during the Covid bounce of 2020-2022…and then topped those numbers in 2023 by most metrics. Here are some takeaways from the 2023 numbers: Number of sales dropped 22.6% over last year, but total sales volume in ALL of the Grove went up slightly to $858,164,400; because… The average sales price in ALL of the Grove set another new, all-time high at $2,364,089, a 30% jump over 2022 and a whopping jump of 144.2% from $968,237 in 2019 (pre-Covid). The average sales price per square foot in ALL of the Grove also set another new, all-time high at $929.79, a 14.3% jump over 2022 and a ridiculous 115.3% jump over the pre-Covid 2019 high of $431.92. South Grove was the first neighborhood to EVER have both the average ($1,195.04) and median ($1,130.42) price per sq/ft over $1,100 in 2023! The average sale price in NORTH Grove jumped 37.8% year-over-year, one of the highest jumps ever recorded. Coconut Grove Real Estate – Months of Supply (February 2024) Months of supply means how long it would take for the market to absorb all real estate, if no additional real estate came to market. This stat determines whether it is a Buyer’s Market or Seller’s Market. When looking at statistics, having a 6-month supply or less favors sellers while more than 6 months favors buyers. Any supply that is 6-9 months is considered a stable market. Single-Family Homes: 8.5-Month Supply (Buyer’s Market) 92 Currently Available 65 Sold in Past 6 Months Condos: 8.9-Month Supply (Buyer’s Market) 104 Currently Available 70 Sold in Past 6 Months Townhomes: 6.5-Month Supply (Balanced Market) 24 Currently Available 22 Sold in Past 6 Months Below, I have laid out all of the 2023 Coconut Grove real estate statistics and then a year-over-year comparison of 2023 versus 2022. 2023 Coconut Grove Real Estate Sales by the Numbers: Total Number of Sales: 363 Total Sales Volume: $858,164,400 Average List Price: $2,567,773 Median List Price: $1,649,900 Average Sales Price: $2,364,089 (92.1% of List Price) Median Sales Price: $1,530,000 (92.7% of List Price) Average Sales Price Per SQ/FT: $929.79 Median Sales Price Per SQ/FT: $810.81 Days on Market: 71 Average / 36 Median Highest Priced Sale of 2023: Grove at Grand Bay LPH-S Closed on 08/31/2023 @ $19,250,000 ($2,023.55 per sq/ft) Lowest Priced Sale of 2023: 3245 Virginia St. #18 Closed on 06/26/2023 @ $255,000 ($496.11 per sq/ft) Download: 2023 ALL Coconut Grove Real Estate Sales Data 2023 vs. 2022 ALL Coconut Grove Sales Year-Over-Year Numbers: Total Number of Sales: DOWN 106 (-22.6%) | 363 in 2023 vs. 469 in 2022 (800 in 2021) Total Sales Volume: UP $2,393,354 (+0.3%) | $858,164,400 in 2023 vs. $855,771,046 in 2022 ($1,452,047,154 in 2021) Average List Price: UP $670,891 (+35.4%) | $2,567,773 in 2023 vs. $1,896,882 in 2022 ($1,913,996 in 2021) Median List Price: UP $250,900 (+17.9%) | $1,649,900 in 2023 vs. $1,399,000 in 2022 ($1,172,500 in 2021) Average Sales Price: UP $539,417 (+30.0%) | $2,364,089 in 2023 vs. $1,824,672 in 2022 ($1,815,059 in 2021) Median Sales Price: UP $180,000 (+22.7%) | $1,530,000 in 2023 vs. $1,350,000 in 2022 ($1,100,000 in 2021) Average Sales Price Per SQ/FT: UP $176.65 (+14.3%) | $929.79 in 2023 vs. $813.28 in 2022 ($636.63 in 2021) Median Sales Price Per SQ/FT: UP $155.80 (+14.5%) | $810.81 in 2023 vs. $708.44 in 2022 ($552.64 in 2021) Coconut Grove Neighborhoods Map To local Groveites looking to sell, and buyers purchasing property in Coconut Grove, I have broken down the statistics of the different areas of the Grove. Coconut Grove is locally referred to in parts, i.e. North, South, Center and West (for example, CocoWalk and Mr. C Hotel are both located in Center Grove and Kennedy Park is located in North Grove). 2023 vs. 2022 NORTH Coconut Grove Sales by the Numbers: Total Number of Sales: 125 in 2023 | 155 in 2022 (281 in 2021) Average List Price: $3,438,991 in 2023 | $2,368,218 in 2022 ($2,080,521 in 2021) Median List Price: $2,300,000 in 2023 | $1,975,000 in 2022 ($1,349,000 in 2021) Average Sales Price: (+37.8%) $3,109,000 in 2023 | $2,255,965 in 2022 ($1,954,750 in 2021) Median Sales Price: (+14.6%) $2,100,000 in 2023 | $1,833,000 in 2022 ($1,300,000 in 2021) Average Sales Price Per SQ/FT: (+14.6%) $996.95 in 2023 | $869.96 in 2022 ($649.80 in 2021) Median Sales Price Per SQ/FT: (+6.4%) $863.42 in 2023 | $811.79 in 2022 ($596.97 in 2021) Days on Market: 90 Average | 54 Median in 2023 (50 Average | 30 Median in 2022) Highest Priced Sale of 2023: Grove at Grand Bay LPH-S Closed on 08/31/2023 @ $19,250,000 ($2,023.55 per sq/ft) Lowest Priced Sale of 2023: 2539 S. Bayshore Dr. #228E Closed on 10/18/2023 @ $265,000 ($815.38 per sq/ft) 2023 vs. 2022 SOUTH Coconut Grove Sales by the Numbers: Total Number of Sales: 31 in 2023 | 40 in 2022 (112 in 2021) Average List Price: $5,042,430 in 2023 | $4,239,297 in 2022 ($3,792,882 in 2021) Median List Price: $3,175,000 in 2023 | $3,172,500 in 2022 ($2,287,450 in 2021) Average Sales Price: (+8.4%) $4,409,871 in 2023 | $4,069,500 in 2022 ($3,602,096 in 2021) Median Sales Price: (+3.8%) $3,010,000 in 2023 | $2,900,000 in 2022 ($2,286,060 in 2021) Average Sales Price Per SQ/FT: (+14.6%) $1,195.04 in 2023 | $1,042.48 in 2022 ($764.06 in 2021) Median Sales Price Per SQ/FT: (+16.1%) $1,130.42 in 2023 | $973.45 in 2022 ($671.69 in 2021) Days on Market: 126 Average | 99 Median in 2023 (40 Average | 21 Median in 2022) Highest Priced Sale of 2023: 3323 Poinciana Ave. Closed on 10/19/2023 @ $18,000,000 (LAND SALE) Lowest Priced Sale of 2023: 4145 Bonita Ave. Closed on 04/10/2023 @ $1,120,000 ($1,258.43) 2023 vs. 2022 CENTER Coconut Grove Sales by the Numbers: Total Number of Sales: 157 in 2023 | 201 in 2022 (289 in 2021) Average List Price: $1,546,931 in 2023 | $1,209,295 in 2022 ($1,239,859 in 2021) Median List Price: $1,079,500 in 2023 | $850,000 in 2022 ($729,000 in 2021) Average Sales Price: (+25.9%) $1,477,797 in 2023 | $1,173,432 in 2022 ($1,184,823 in 2021) Median Sales Price: (+28.6%) $1,050,000 in 2023 | $816,563 in 2022 ($700,000 in 2021) Average Sales Price Per SQ/FT: (+18.2%) $884.52 in 2023 | $748.28 in 2022 ($614.85 in 2021) Median Sales Price Per SQ/FT: (+21.8%) $767.86 in 2023 | $630.58 in 2022 ($499.68 in 2021) Days on Market: 49 Average | 20 Median in 2023 (48 Average | 18 Median in 2022) Highest Priced Sale of 2023: Two Park Grove #UPH-A Closed on 07/13/2023 @ $17,500,000 ($2,526.35 per sq/ft) Lowest Priced Sale of 2023: 3245 Virginia St. #18 Closed on 06/26/2023 @ $255,000 ($496.11 per sq/ft) 2023 vs. 2022 WEST Coconut Grove Sales by the Numbers: Total Number of Sales: 49 in 2023 | 75 in 2022 (119 in 2021) Average List Price: $2,160,277 in 2023 | $1,630,657 in 2022 ($1,384,312 in 2021) Median List Price: $1,499,000 in 2023 | $1,237,562 in 2022 ($1,200,000 in 2021) Average Sales Price: (+30.1%) $2,049,373 in 2023 | $1,575,181 in 2022 ($1,329,108 in 2021) Median Sales Price: (+12.2%) $1,375,000 in 2023 | $1,225,000 in 2022 ($1,140,000 in 2021) Average Sales Price Per SQ/FT: (+6.6%) $784.52 in 2023 | $736.28 in 2022 ($540.77 in 2021) Median Sales Price Per SQ/FT: (-0.4%) $684.37 in 2023 | $686.81 in 2022 ($494.14 in 2021) Days on Market: 58 Average | 40 Median in 2023 (50 Average | 31 Median in 2022) Highest Priced Sale of 2023: 3258 Bird Ave. Closed on 06/30/2023 @ $16,000,000 (BULK SALE – 8 TOWNHOMES) Lowest Priced Sale of 2023: 3741 Thomas Ave. Closed on 10/30/2023 @ $575,000 ($735.29 per sq/ft) If you, or someone you know, would like to purchase or sell real estate in Coconut Grove, please contact me, Michael Light, Founder/Owner of the Light Group at Douglas Elliman Real Estate. I am a resident of Coconut Grove and have direct knowledge of the Coconut Grove real estate market. You may reach me directly at my CocoWalk office at 786-566-1700 or via email at michael@miamiluxuryhomes.com. Looking for past Coconut Grove market statistic articles? Here they are: 2022 Coconut Grove Market Report 2021 Coconut Grove Market Report 2020 Coconut Grove Market Report 2019 Coconut Grove Market Report 2018 Coconut Grove Market Report 2017 Coconut Grove Market Report 2016 Coconut Grove Market Report 2015 Coconut Grove Market Report 2014 Coconut Grove Market Report Disclaimer: The statistics referenced herein were retrieved from the Multiple Listing Service (MLS) on February 28, 2024. Any closed sales not listed in the MLS are not included in the statistics referenced herein. The MLS search criteria used was 33133 zip code + map outline + city not equal to “Coral Gables.” The statistics separated into North, South, Center and West Grove were separated according to the map shown above and may not be accurate. In addition, the information contained herein is for informative purposes only and should not be relied upon.
Douglas Elliman’s Q4 2023 Miami Mainland, Coral Gables & Miami Beach Market Reports Posted on January 27, 2024 by Michael Light Douglas Elliman has released the 4th quarter 2023 Elliman Reports for Miami Coastal Mainland, Coral Gables and Miami Beach & Barrier Islands. Produced in conjunction with Miller Samuel to provide you with the most comprehensive and objective market insight available, the Douglas Elliman Reports are recognized as the industry standard for providing the state of the residential real estate market, which includes an extensive suite of tools to help readers objectively identify and measure market trends, provide historical context to current information and provide comprehensive analysis of the results. Download Douglas Elliman’s Q4 2023 Market Reports: Douglas Elliman’s Q4 2023 Miami Coastal Mainland Market Report Douglas Elliman’s Q4 2023 Coral Gables Market Report Douglas Elliman’s Q4 2023 Miami Beach & Barrier Islands Market Report Miami Coastal Mainland Q4 2023 Sales Overall Highlights “Price trend indicators pressed higher across the market.” +10% Median Sales Price – Median sales price remained at a record high for the 3rd time. -9% Closed Sales – Sales declined annually for the 7th straight quarter. +9.1% Total Inventory – Listing inventory rose year over year for the 5th time in 6 quarters. Aventura All price trend indicators showed mixed year-over-year results. Listing inventory increased annually for the 5th time. Brickell Median sales price increased year over year. Listing inventory increased annually for the 2nd time. Coconut Grove Condo price trend indicators surged annually. Condo listing inventory increased annually for the 1st time in 3 quarters. Single family price trend indicators showed mixed annual results. Single family listing inventory increased annually for the 2nd time in 3 quarters. Downtown Miami Condo price trend indicators increased annually. Condo listing inventory increased annually for the 5th time. Single family price trend indicators reached record highs. Single family listing inventory declined annually for the 3rd time. Palmetto Bay Price trend indicators increased annually. Listing inventory declined annually for the 3rd time. Pinecrest Price trend indicators showed mixed annual results. Listing inventory declined annually for the 2nd time. South Miami Price trend indicators surged year over year. Listing inventory declined annually for the 3rd time. DOWNLOAD: Douglas Elliman’s Q4 2023 Miami Coastal Mainland Market Report Highlights *Please note that Miami Coastal Mainland includes Aventura, Brickell, Coconut Grove, Downtown Miami, Palmetto Bay, Pinecrest and South Miami. Coral Gables Q4 2023 Sales Overall Highlights “Listing inventory expanded across most submarkets but remained sharply below pre-pandemic levels.” Coral Gables Single Family Year Over Year +26.6% Median Sales Price +1.6% Closed Sales -18.1% Total Inventory +3 Days of Marketing Time Single family listing inventory fell annually for the 2nd time in 6 quarters. Coral Gables Condos Year Over Year +12% Median Sales Price +12.2% Closed Sales +73.3% Total Inventory -3 Days of Marketing Time Condo median sales rose for the 2nd time in 3 quarters. DOWNLOAD: Douglas Elliman’s Q4 2023 Coral Gables Market Report Highlights *Please note that this only includes the City of Coral Gables. Miami Beach & Barrier Islands Q4 2023 Sales Overall Highlights “While listing inventory increased, it remains far below pre-pandemic levels.” +13% Median Sales Price – All price trend indicators increased collectively year over year for the 2nd time. +3 Months of Supply -12.5% Closed Sales – Sales declined annually for the 7th straight quarter +12.6% Total Inventory – Listing inventory rose year over year for the 5th consecutive quarter. +15 Days of Marketing Time 6.7% Discount Off List Price Sunny Isles Beach Median sales price increased year over year for the 5th time. Listing inventory rose annually for the 5th straight quarter. Bal Harbour Median sales price increased year over year for the 6th time in 7 quarters. Listing inventory rose annually for the 4th straight quarter. Bay Harbor Islands All price trend indicators surged year over year. Listing inventory rose annually for the 5th straight quarter. Surfside Condo sales increased year over year for the 1st time in 5 quarters. Condo listing inventory rose year over year for the 5th straight quarter. Single family median sales price increased year over year for the 1st time in 3 quarters. Single family listing inventory was unchanged year over year. North Bay Village Median sales price increased year over year for the 1st time in 3 quarters. Listing inventory declined annually for the 1st time in 5 quarters. Miami Beach Islands Median sales price increased year over year for the 5th time. Listing inventory rose annually for the 5th straight quarter. North Beach Median sales price increased year over year for the 4th time. Listing inventory rose annually for the 4th straight quarter. Mid-Beach Median sales price increased year over year for the 4th time. Listing inventory rose annually for the 4th straight quarter. South Beach Median sales price increased year over year for the 2nd time. Listing inventory rose annually for the 3rd time in 4 quarters. Key Biscayne Condo sales increased year over year for the 1st time in 8 quarters. Condo listing inventory increased annually for the 1st time in 8 quarters. Single family price trend indicators increased year over year. Single family sales stabilized annually for the 1st time in 9 quarters. Fisher Island Price trend indicators declined year over year. Listing inventory expanded year over year for the 2nd time. DOWNLOAD: Douglas Elliman’s Q4 2023 Miami Beach & Barrier Islands Market Report Highlights *Please note that Miami Beach & Barrier Islands includes Bal Harbour, Bay Harbor Islands, Fisher Island, Key Biscayne, Miami Beach Islands, Mid-Beach, North Bay Village, North Beach, South Beach, Sunny Isles Beach and Surfside. If you, or someone you know, are interested in purchasing and/or selling real estate in Miami, Coral Gables or Miami Beach or simply would like to learn more about the real estate market in South Florida, please contact Michael Light, Broker Associate and Executive Director of Luxury Sales at Douglas Elliman Real Estate as well as Founder/Owner of The Light Group. You may reach Michael directly at his office at (305) 350-9842, on his cell at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. If you are interested in the Delray Beach, Palm Beach, Naples, Sarasota, Tampa and/or St. Augustine market reports, CLICK HERE.
Jeff Bezos And Lauren Sanchez Relocate To Indian Creek Island In Miami Beach Posted on November 6, 2023November 27, 2023 by Sarah Elles Boggs Miami is gaining yet another full-time Billionaire. Jeff Bezos has announced that he and his love, Lauren Sanchez, will be relocating from Seattle to the Billionaire Bunker of Indian Creek Island, where he recently purchased two neighboring properties. During the summer, he purchased the $68 million teardown at 11 Indian Creek Island Drive. It is a 9,200 square foot home that was constructed in 1965 on a 1.84 acre waterfront lot. At the time, he expressed his desire to raze the home and construct something new. Fast forward to October and the next step of his play came to fruition when he purchased the neighboring home for $79 million. This property at 12 Indian Creek Island Drive was constructed in 2000. The home is 19,000 square feet including a pool house and 7 bedrooms, 14 baths, a cinema and at least 3 living areas. The second lot is also 1.84 acres of waterfront, garnering the lovebirds over 3.6 acres of waterfront property to enjoy on the island with just 41 total homesites, its own police force, country club and golf club. Jeff Bezos 12 Indian Creek Drive Entry At the time of the announcement, Bezos expressed his love of the magic city and his longing for his family. His parents recently returned to the area with a waterfront home they purchased in Coral Gables during July of this year. “My parents have always been my biggest supporters. They recently moved back to Miami, the place we lived when I was younger (Miami Palmetto High class of ’82 — GO Panthers!) I want to be close to my parents, and Lauren and I love Miami.” Bezos said in a social media post. The Amazon founder’s fiancée echoed his enthusiasm for the move, captioning an image of the home with “Miami 💖.” Jeff Bezos 12 Indian Creek Drive Bay View In addition to being closer to his parents, Bezos is also enthusiastic about being closer to the Blue Origin headquarters, which is gradually shifting to the space center at Cape Canaveral, FL. The space exploration branch of his conglomerate is increasingly a pet project for the multi-hyphenate founder. Is This The Only Reason For The Move? While he publicly denies it, we have to pay attention to the tax benefits that Bezos and Sanchez will experience through their relocation as this is a large reason for much of the relocation we have experienced over recent years. While Washington State also does not have a state income tax (many of our transplants from the Northeast and New England are escaping state income tax), Bezos would also escape a proposed wealth tax through his relocation according to MarketWatch. This tax affects all of those whose net worth exceeds $250 million, which obviously includes the Amazon founder. His net worth currently is estimated at $161 billion according to Bloomberg. Jeff Bezos 12 Indian Creek Drive Formal Living Piano Bezos will be in good company as a billionaire in the Miami area. He will join the founder of the famous hedge fund Citadel, Ken Griffin as well as former Google chairman Eric Schmidt and his wife Wendy in the 305. The Schmidt’s are currently on a buying spree throughout waterfront homes on the Sunset Islands. Some of Bezos’ and Sanchez’s immediate neighbors will include Tom Brady, Jared and Ivanka Kushner, Julio Iglesias and Carl Icahn. Whatever his reasoning is for the relocation, we welcome the Bezos’s! Scroll down for more photos of Jeff and Lauren’s new waterfront abode. Images Courtesy of Miami MLS Jeff Bezos 12 Indian Creek Drive Bayfront Jeff Bezos 12 Indian Creek Drive Blue Room Jeff Bezos 12 Indian Creek Drive Dining Room Jeff Bezos 12 Indian Creek Drive Family Room Jeff Bezos 12 Indian Creek Drive Formal Living Jeff Bezos 12 Indian Creek Drive Foyer Jeff Bezos 12 Indian Creek Drive Gallery Entrance Jeff Bezos 12 Indian Creek Drive Gallery Jeff Bezos 12 Indian Creek Drive Golf Course View Jeff Bezos 12 Indian Creek Drive Great Room Jeff Bezos 12 Indian Creek Drive Guest Bedroom Khaki Jeff Bezos 12 Indian Creek Drive Guest Bedroom Jeff Bezos 12 Indian Creek Drive Infinity Pool Jeff Bezos 12 Indian Creek Drive Kitchen Layout Jeff Bezos 12 Indian Creek Drive Kitchen Jeff Bezos 12 Indian Creek Drive Library Jeff Bezos 12 Indian Creek Drive Mezzanine Jeff Bezos 12 Indian Creek Drive Mirrored Gallery Jeff Bezos 12 Indian Creek Drive Patio Jeff Bezos 12 Indian Creek Drive Pool and Pool House Jeff Bezos 12 Indian Creek Drive Pool House Jeff Bezos 12 Indian Creek Drive Primary Bath Tub Jeff Bezos 12 Indian Creek Drive Primary Bath Jeff Bezos 12 Indian Creek Drive Primary Suite Jeff Bezos 12 Indian Creek Drive Seawall Jeff Bezos 12 Indian Creek Drive Spiral Staircase Jeff Bezos 12 Indian Creek Drive Theater Bar Jeff Bezos 12 Indian Creek Drive Theater Screen Jeff Bezos 12 Indian Creek Drive Theater Jeff Bezos 12 Indian Creek Drive Waterfront Jeff Bezos 12 Indian Creek Drive Wet Bar
Dr. Lenny Hochstein Buys Waterfront Belle Meade Home Posted on November 1, 2023 by Sarah Elles Boggs Not to be outdone by his ex wife’s real estate moves, Dr. Leonard Hochstein has purchased a $6.9 million waterfront home on Belle Meade Island in the gated Upper Eastside Miami neighborhood of Belle Meade. The plastic surgeon who also answers to “Dr. Lenny” and “Boob God” has been featured on Bravos Real Housewives of Miami franchise, with his highly contentious divorce from Lisa Hochstein being a major plot line in the latest season. The home is located at 1161 Belle Meade Island Drive, on a wide bay lot with 120 linear feet of bay frontage and a deep water dock. The home was built in 1956, but renovated in 2010. It sold at a loss, as the seller originally listed the property for $7.5 million. Dr. Lenny was quick to explain that the property is an investment, and he is quite satisfied with his Star Island manse that he once shared with the original Mrs. Hochstein. He is currently engaged to his new, younger fiance Katharina Mazepa. “I’m always looking at opportunities to buy something special and I think this property is special,” he told The Real Deal. “Anytime I can get almost 120 feet of water frontage on a wide bay — there are not too many places like that.” Dr. Lenny Hochstein Belle Meade Island Miami Backyard The the Key West style home is just over 2,900 interior square feet with four bedrooms and 4.5 bathrooms. It has an open floor plan that is prime for entertaining and a spacious backyard area with a pool, alfresco dining, deep water dock, outdoor living area and lounge spaces. The property was purchased with the use of a family trust. It is unclear if he will lease the home or use it as an event space, or just hold it to resell at a later date. Dr. Lenny Hochstein Belle Meade Island Miami Sitting Area Dr. Lenny Hochstein Belle Meade Island Miami Home Office Dr. Lenny Hochstein Belle Meade Island Miami Kitchen Dr. Lenny Hochstein Belle Meade Island Miami Home Primary Suite Dr. Lenny Hochstein Belle Meade Island Miami Home Waterfront Dr. Lenny Hochstein Belle Meade Island Miami Home Aerial As for his Star Island mansion, he and Lisa purchased the property at 42 Star Island Drive in 2012 and launched a campaign against the Miami Beach Historical Commission to tear down the original $2 million home. Ultimately, they won the bid and the battle was another major plot line on the Bravo show. After hosting a “1920’s theme” demolition party for the cameras, they constructed a jaw-dropping 20,000 square foot palace on the lot. It is now valued at north of $52 million. Lisa resided there until recently when she leased a $32,000/month full-floor residence at One Ocean on Miami Beach’s South of Fifth neighborhood. We expect to see all of this in the next season of Real Housewives of Miami, complete with Dr. Lenny’s wedding to the new Mrs. Hochstein. All Images Courtesy of Miami MLS
La Gorce Island Estate, Formerly Cher’s Miami Beach Home Lists For $42.5M Posted on August 9, 2023 by Sarah Elles Boggs If she could turn back time… she would probably purchase this home again. This storied estate was once the Miami Beach home of Cher, with a layout that embraces all of the grandiose drama you would expect from a superstar of her caliber, yet meticulously upgraded to modernity by Menin Homes to reflect an ambiance of quiet luxury. The home is located on La Gorce Island, a gated residential island in the quiet, more private area of Miami Beach. There is a 24-hour patrol and just 30 homes. Sitting on a lot that is over a half acre, the estate boasts 158-feet of waterfront overlooking the Biscayne Bay. 64 La Gorce Circle Miami Beach – Aerial Entering by car, you are greeted by an idyllic courtyard and Spanish Contemporary architecture. Cher famously lived here when she was taking a break from the spotlight and you will see how peaceful and healing the estate is. It is grand yet intimate, flashy yet quiet. The home itself has 12,450 interior square feet with six bedrooms, six baths and three powder rooms. 64 La Gorce Circle Miami Beach – Entry As you enter the home through graceful arched doors, you are met by dramatic dual grand staircases to the bedrooms on the second level. The staircases and floors are flanked in Brazilian oak and there is an appropriate welcoming appeal to the social areas toward the back of the home. 64 La Gorce Circle Miami Beach – Foyer Heading toward the backyard you will pass through two main social areas, one more formal and one more intimate. There is also a bar room, media lounge and a kitchen befit of a Michelin-starred chef. Each of the social rooms, as well as the bar room open up to the back garden. The kitchen is situated in a spot where a catering team could easily and discreetly carry out gatherings for any number of people. 64 La Gorce Circle Miami Beach – Formal Living 64 La Gorce Circle Miami Beach – Social Area 64 La Gorce Circle Miami Beach – Kitchen 64 La Gorce Circle Miami Beach – Bar Room The primary suite stuns on the second level with a sitting room and fireplace as well as an expansive private terrace overlooking the grounds. Completely remodeled, the bath is draped in book-matched marble and there is a boutique-style dressing area suitable for all of Bob Mackie’s designs, or whichever designer the new owner enjoys. Something very unique about this home is the third floor studio overlooking the bay and the grounds. In the garden, there is a 50-foot resort style pool with hot tub and cold plunge. The pool house has a cabana bath and sauna with gorgeous landscaping all around. This iconic estate is offered for $42.5 million and is truly one-of-a-kind. If you are interested in a private tour of 64 La Gorce Circle, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Image Credit: Become Legendary / Dina Goldentayer
Homes For The Heat – Where Miami’s Hometown Heroes Live Posted on May 30, 2023May 31, 2023 by Sarah Elles Boggs The Heat is on! That’s right, we’re in the Finals once again! After destroying the Boston Celtics’ dreams for a historic comeback, the Miami Heat players have returned to the Magic City to rest their heads in preparation for the Denver Nuggets showdown in the Finals. While they are resting up, it leads lots of fans to be curious… where do the Miami Heat players actually live? Before we begin spilling the details we should note that as we do tend to represent athletes on a fairly regular basis, we take their privacy very seriously, just as we would your privacy in any transaction. The names in this list are not necessarily our clients, and the only names that we publish are those that have already been published elsewhere. We do not and will not spill people’s secrets, although we will point out why the athletes may have chosen the pieces of real estate that they did. So here we go. South Miami There are certain communities around South Florida that attract professional athletes from every sport and franchise. Miami offers that celebrity lifestyle that athletes enjoy during the off-season, the weather is great, and the taxes are far better than California. NFL players love Southwest Ranches because it is so close to the NOVA training center and convenient to Miami Gardens, is also convenient to the airport and the layouts are sprawling. But we’re talking today about the NBA, so we’re going to start in South Miami. 7416 Southwest 49th Place Front View | Photo credit: Miami MLS/Redfin For very much the same reason that NFL players choose Southwest Broward as the ideal home, NBA players tend to choose manses in gated communities between Coral Gables/South Miami/Pinecrest areas. Jimmy Butler has recently purchased a $7.4 million home in Stonegate, a gated community near South Miami. While the purchase price is significantly higher than comparable sales in the community, it is clear why he would choose it. The neighborhood is an enclave of just 12 homes and is walled/gated for extra security. Tyler Herro is another player who has chosen Pinecrest as his home base. Earlier this year he celebrated his new $120 million contract with a newly-constructed home at 12900 SW 63rd Avenue. The mansion boasts 9,500 square feet of interior space with 8 bedrooms and 8.5 bathrooms. No expense was spared in outfitting the home with internationally-sourced rare materials from Italy, Brazil and more. The floor to ceiling glass windows offer an indoor/outdoor feel inspired by Balinese architecture. Tyler Herro Pinecrest Miami Home | Photo Credit: Josie Wang, Brown Harris Stevens Miami Previous Miami Heat players have also chosen homes in the Pinecrest/South Miami area, including D Wade, Penny Hardaway and Birdman. The homes in this area are popular because they include large, lush lots with plenty of tropical vegetation. The tree-lined stretch of Old Cutler Road from Cocoplum to Cutler Bay routinely shows up in yearly lists for “Miami’s Best Scenic Drives”. The banyan canopy and blacktop make for a relaxing commute to a family estate after a long practice or a hard game. There are also a host of impressive schools nearby, plenty of shopping and a calm lifestyle that someone with an intense job such as a Miami Heat player would appreciate during their time off the clock. Miami Beach In 2021, Victor Oladipo picked up a brand new spec home on Hibiscus Island. The non-waterfront home has 2 master bedrooms, three ensuite guest rooms as well as a pool house. The 6,900-square-foot brand-new home sold for $7.8 million. It is easy to see why Hibiscus Island would be attractive for Oladipo. It is a stone’s throw form the Kaseya Center, so the commute is relatively seamless. Along with Palm and Star Islands, Hibiscus Island has been a haven for celebrities and notable figures since the 1930’s. The man-made islands are isolated by one causeway with guard gates, limiting visitors to those invited. There are outdoor amenities on the island including a playground for neighborhood children and a small-community feel. Hibiscus Island is an affluent community in Miami Beach, Florida. Another neighborhood in Miami Beach known to attract Miami Heat players includes North Bay Road, where Chris Bosh and Dwayne Wade enjoyed a neighborly vibe during their Heat heyday. Downtown Miami Not all players prefer the single-family lifestyle. There are some who prefer to invest in condominium developments, and there are so many options just a stone’s throw from Kaseya Center. The Biscayne Wall, as the buildings directly across Biscayne Boulevard from the arena are adoringly coined, has long been a hotspot for NBA players. These buildings include Marquis Miami, Ten Museum Park, One Thousand Museum, 900 Biscayne Bay and Marina Blue. With beautiful water views, high ceilings, modern luxurious finishes as well as professional-level fitness and wellness facilities, these buildings are an easy choice for the Miami Heat players to live, but there are even more options now. The 2023 Miami Heat roster has additional options with even more athlete-friendly amenities. Paramount Miami Worldcenter (pictured above) is a sprawling 28-acre development that offers an in-house basketball court where you could realistically shoot some hoops with NBA players. The Elser Hotel & Residences was also recently opened nearby and features a hotel component that is very convenient for the players who desire to have friends and family visit for their games. Paramount Miami Worldcenter Basketball Court Looking toward the future, E11even Hotel & Residences is currently under construction with several NBA players from various teams committing to the nightlife-friendly luxury development. Given the success of the initial tower, developers have begun sales on a followup project, E11even Residences & Beyond, that features its very own Clayton private social club. E11even Residences Beyond has recently opened sales and has options available ranging from $300,000 studios to $30 million penthouses. Rendering of E11even Residences Beyond Miami Pool Rendering of E11even Residences Beyond Miami Helipad Surfside While it is amazing to see the lifestyles that the Miami Heat players are enjoying closer to the office, we cannot forget the main shot-caller. Miami Heat President Pat Riley famously paid $8.1 million in 2019 for a fifth-floor beachfront home at The Surf Club Four Seasons Residences in Surfside. Their four bedroom residence also boasts five and a half bathrooms with serene oceanfront access and a fully staffed beach. The building is a mix of historic charm paired with modern designs by Richard Meier. In addition to the 150 condo residences, the development is also home to a 72-key Four Seasons hotel and eateries by Michelin-starred Chef Thomas Keller. The Surf Club Four Seasons Residences We hope the Miami Heat players, executives and staff are resting well during this short break and getting prepared to make the 305 proud once again! LET’S GO HEAT!
Coconut Grove Breaks Sales Records Again With $49 Million Trophy Property Posted on May 17, 2023May 18, 2023 by Sarah Elles Boggs Coconut Grove has reclaimed its title as the holder of the most expensive home sale in Miami Dade County for 2023 with the off-market purchase of 3301 Moorings Way for $49 million, property records show. While the identity of the buyer remains under wraps, the transaction has been logged by the county for the 8,879-square-foot waterfront manse that was previously owned by Carlos and Luciana Haskim. The Haskims acquired the six-bedroom home in 2010 for $10.1 million. The home was constructed in 2007 with a waterfront infinity pool, loggia, and 2 levels of Mediterranean-inspired opulence on a lot that is just over 1/2 acre. 3301 South Moorings Way Coconut Grove FL Backyard | Photo credit: Brown Harris Stevens Looking at the sales figures, the Moorings Way deal amounts to $5,500 per square foot of air conditioned space, or $1,875 per square foot of land. The second most expensive transfer took place in March of this year when wealth manager Paul Morelli paid $48.5 million for a waterfront home at 3007 Brickell Avenue in northeast Coconut Grove/South Brickell. This deal added to a multi-acre assemblage, but the home itself traded for $6,250 per square foot. Last fall, hedge fund billionaire Ken Griffin paid $107 million for a 4-acre waterfront property with two mansions on it. This deal amounted to $614-per-square-foot of land. He later announced plans to relocate one of the homes to be enjoyed by the public, as it is a historic property. Mr. Haskim earned his ranks as a neuroscientist and biomedical engineer who was involved with the development of a device to treat certain forms of dementia, according to The Real Deal. Mrs. Haskim also has an impressive resume as an attorney who works on international transactions. They are both keen investors, earning five times the purchase price on their luxurious home. Gladswood, LLC is listed as the new owner. Being that it is registered in Delaware, we are unable to determine who is behind this curtain until a formal announcement is made. 3301 South Moorings Way Coconut Grove FL Waterfront Lounge | Photo credit: Brown Harris Stevens These transactions are all testimonies to the point we were making yesterday about the vitality of Miami’s luxury real estate market. While other cities are struggling under the pressure of increased rates and decreased sales activity, the Miami area is struggling only under growing pains and lack of inventory. Of all of the areas in Miami, Coconut Grove is continuing its renaissance with no end in sight and we welcome all of the new neighbors to our community. If you are interested in learning more about life in Coconut Grove, please contact Michael Light, Grove resident as well as Broker and Executive Director of Luxury Sales at Douglas Elliman Real Estate. We are incredibly tied-in with the community and able to track down off-market deals if needed. We would love to have you as a neighbor.