Imperial Real Estate Group: Indian Creek home sells for $47 Million

Imperial Real Estate Group: Indian Creek home sells for $47 Million: 3 Indian Creek  has closed on a $47 million sale, the largest residential transaction in the history of Miami-Dade County. The property to...

Indian Creek home sells for $47 Million

3 Indian Creek has closed on a $47 million sale, the largest residential transaction in the history of Miami-Dade County. The property totals approximately 30,000 square feet, with 10 bedrooms and 14 bathrooms on an 80,000-square-foot lot.

The Miami Beach property in Indian Creek, which was designed by architect Rene Gonzalez, has a current assessed value of just $7.2 million, according to the County Property Appraiser’s office. It had originally been listed for $60 million in 2011 before  a price cut to $52 million..

The home has its own 100-foot pool, a glass-encased waterfront gym, 205 feet of bay frontage, and its own beach.

The previous Miami-Dade County record was set in March, when hedge fund manager Edward Lampert paid $40 million for another Indian Creek home.

Imperial Real Estate Group: Second largest condo sale in Miami Dade county thi...

Imperial Real Estate Group: Second largest condo sale in Miami Dade county thi...: One buyer has closed on the $24.6 million purchase of a combination of five units at the St. Regis Bal Harbour . It is the...

Second largest condo sale in Miami Dade county this year closed for $24.5M

One buyer has closed on the $24.6 million purchase of a combination of five units at the St. Regis Bal Harbour. It is the single-largest transaction at the St. Regis Bal Harbour, which opened its doors in January.

Considered as one unit in St. Regis Bal Harbour, the deal is the second-largest condominium sale in Miami-Dade County, following the $25 million purchase of a unit by an Italian buyer at South Beach’s Continuum in May.

It is considered as one unit, the deal is the second-largest condominium sale in Miami-Dade County, following the $25 million purchase of a unit by an Italian buyer at South Beach’s Continuum in May.

Imperial Real Estate Group: South Florida condo market is growing

Imperial Real Estate Group: South Florida condo market is growing: South Florida condo market is entering new growth phase. At least 45 towers with more than 7,600 units have been propos...

South Florida condo market is growing

South Florida condo market is entering new growth phase.

At least 45 towers with more than 7,600 units have been proposed — with five towers already under construction — along the coast in Miami-Dade, Broward, and Palm Beach counties in the last 14 months.

 Developers starting to build thousands of new apartments units  in South Florida which could be converted into condominiums in the future due to strong rents being collected from tenants who cannot or will not buy their own residences.

As of March 31, about 3,900 developer units remain unsold out of a pool of nearly 49,000 units created during the last boom in South Florida’s seven largest coastal condo markets of greater downtown Miami; South Beach; Sunny Isles Beach; Hollywood and Hallandale Beach; downtown Fort Lauderdale and Fort Lauderdale beach; Boca Raton and Deerfield Beach; and downtown West Palm Beach and Palm Beach.

Sunny Isles Beach is Booming with new developments

Sunny Isles Beach in Miami-Dade County fast becoming the epicenter of South Florida’s condo boom, the Miami Herald reported. Six condo towers are currently being developed in the area, which represents approximately 15 percent of the more than 45 towers proposed through July 2012 in South Florida’s tri-county region. Another 530 luxury units will be built on nearly 40 blocks along Collins Avenue, and more are expected to come. 

Developers have purchased an additional four condo sites in Sunny Isles Beach, containing more than 580 units, all of which have been approved for residential towers.  Investment group has recently purchased the loan for a partially completed condo tower that has been approved to contain 134 condo units and 140 hotel rooms. If this pace of development continues, Sunny Isles Beach could see its total number of condos increase by more than 1,200 units.