LEASED

LEASED

LEASED

LEASED

MARKET UPDATECervera Real Estate Market Update in collaboration with the Miami DDA

Issue 2 | April 2012

Languages Spoken:Spanish, German, Portuguese, French,

Hebrew, Dutch, Russian, Italian

Luxury Residential TeamGabriella Bailom

Petra BensoussanCarolina Pupo

Commercial Leasing Specialists | Restaurant & RetailWolfgang Herz and Ricardo Du Pond

EPIC RetailDowntown

2,500 sf

Zuma

Hampton Inn RetailBrickell

10,000 sf

Kukaramakara

Vice LoungeMiami Beach

10,000 sf

Lucky Clover & Mare Nostrum

1800 Biscayne RetailUptown7,029 sf

Piola

FOR SALE

TEQUESTA 3 PH4604$4,5 M

RITZ 1025$569,000

EPIC 707$1,5 M

EPIC 3607$1,2 M

EPIC 4804$1,15 M

FOR LEASE

TEQUESTA 3 PH4604$25,000

EPIC 902$6,500

EPIC 707$5,900

EPIC 3607$5,200

AXIS 2524$2,000

305.970.7260 | www.whmiami.com | wherz@cervera.comServicing all of South Florida

Your Downtown Miami and Brickell Specialist

Ask me today about these exclusive development projects represented by Cervera:

BrickellHouse Brickell

MarquisDowntown

EpicDowntown

Ocean HouseSouth Beach

Cervera Real Estate and the Miami Downtown Development Authority are pleased to bring you this residential market update. As indicated throughout this report, Downtown Miami continues to see consistent, positive growth. By the end of 2011, occupancy in new

condominium buildings (including owners and renters) climbed 7 percentage points to 93% from 86% at year-end 2010. As a downtown resident/business owner it is valuable for you to know what’s happening in your area. We hope you find the information useful.

Join the new era of Cervera! We offer exceptional training,

dynamic locations, innovative marketingand so much more.

For a confidential meeting please contactMarketing@Cervera.com.

Check out our Facebook page forfor ongoing market updates

Facebook.com/CerveraRE | www.Cervera.com305.374.3434

What’s inside…• Sales & Leasing Activity Report

• Number of Residential Sales

• Sales & Rental Price Trends

• Top Downtown Buildings

• Foreclosure Activity

• Downtown Updates

• Downtown Map

Cervera Real Estate1492 S. Miami AvenueMiami, FL 33130

Downtown Miami & Brickell Hit 93% Occupancy RateKey Highlights2011 Year-End Update

• More than 99% of new units completed before 2006 have been sold

• 77% of new units built between 2007-2011 have been sold

• Unsold inventory declined to 3,728 from 5,000 in the year prior

• 45% of total sales were first-time new unit sales in new buildings

• Average sales price of new units increased 11.7%

• Average price of new units per square foot increased 12.6%

• Foreclosure activity remains low due to all-cash purchases

• Average monthly residential leasing velocity is up 6.5%

• Renters account for approximately 56% of occupied units

Occupancy for New Condominium Units

2010 2011

86% 93%

JUST SOLD

50 Biscayne #19082BD/2BA | 1,357 sf

One Miami #24002BD/2BA | 1,105 sf

JUST SOLD

ICON Brickell #23081BD/1BA | 732 sf

JUST SOLD

Thinking of buying or selling?Work with a top producer that delivers results!

Brenda BichilliSales Director, Cervera Real Estate, Inc. | Mobile: 305.206.5048

BrickellHouse Marquis Residences

Epic Residences

Ocean House CityPlaceSouth Tower

Grove at Grand Bay

St. Regis Bal Harbour

Ponce de Leon Platinum

Cervera Corporate Office | 1492 S Miami Ave | 305.374.3434

Cervera Brickell Key II Office | 540 Brickell Key Dr | 305.374.3334

Cervera 50 Biscayne Office | 20 S Biscayne Blvd | 305.373.3510

Cervera 900 Biscayne Bay Office | 900 Biscayne Blvd | 305.733.0445

Cervera One Miami Office | 325 S Biscayne Blvd | 305.373.3737

Cervera Marquis Sales Office | 1100 Biscayne Blvd Way | 305.571.4000

Cervera Epic Office | 270 Biscayne Blvd Way | 305.400.7399

Cervera BrickellHouse Sales Office | 1200 Brickell Ave, Suite 1500 | 305.938.5707

Miami Downtown Development Authority (DDA) | 200 S Biscayne Blvd

Miami-Dade College Wolfson Campus | 300 NE 2nd Ave

FIU Business School | 1101 Brickell Ave

Miami Federal Courthouse | 400 N Miami Ave

Miami-Dade Public Library & Miami Art Museum | (same address) 101 W Flagler St

Bayfront Park | 301 N Biscayne Blvd

Bayside Marketplace | 401 Biscayne Blvd

Adrienne Arsht Center for the Performing Arts | 1300 Biscayne Blvd

Museum Park

Garcia’s Seafood Grille & Seafood Market | 398 NW River Dr Brickell A

veS M

iami Ave

SW 15th RdSW 3rd AveSW 13th St

SW 8th St

SW 7th St

Bric

kell

Ave

SW 3rd St

W Flagler St

NW 5th StNW 6th St

NW 8th St

NW

2nd

Ave

SW 2nd StSW 1st St

NW 14th St

NE

2nd

Ave

NE

1st A

veS

Mia

mi A

ve

L

OM C

NI E

F

G

Q

A

B

MacArthur Causeway

J

N M

iam

i Ave

BicentennialPark

Brickell KeyPark

Port Blvd41

1

968

972

90

H

P

Vene�an Causeway

R

D

Bisc

ayne

Blv

d.

K BrickellKey Dr

A

B

C

E

F

G

I

J

K

L

M

N

O

Downtown Miami

H

P

Q

Developers are now launching new projects in downtown, starting the next wave of development much sooner than anyone had predicted.

Downtown Miami is one of the most

active real estate markets in the country,

thanks to strong rental demand from

young professionals who want to live

in our urban core and interest from

international buyers who see the

value in buying real estate here,” said

Alyce Robertson, executive director of

the Miami Downtown Development

Authority. “Seeing that existing condo

inventory continues to dwindle while

demand persists, developers are now

launching new projects in downtown,

starting the next wave of development

much sooner than anyone had predicted.

Source: MLxchange. Cervera and the Miami DDA make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the contents of this advertisement and expressly disclaims liability for errors and omissions of third-party content.

International Investment in Downtown MiamiA Message from the Miami DDA:

“Our recent survey and primary research showing overall multifamily residential occupancy of 93% in the downtown area is a dramatic change from forecasts just 36 months ago. The result of the expanded population reflected by the occupancy level is the emergence of the downtown area as a diverse and expanding economic base and the transition to a bona-fide live/work urban core environment.” (Goodkin)

The information below is an excerpt of a report compiled by Goodkin Consulting, commissioned by the Miami DDA. It is a statistical update of key residential market trends in the Downtown Miami area and designed to inform residents and business owners. The information presented is based on direct research of public records, MLS and other independent sources. A copy of the full report is available for download at www.miamidda.com.

About the Market Trend Update

R

Downtown Study Area Residen�al SalesDec. 2010 - Dec. 2011

Monthly Sales Profile Units Total Sales Total Average AverageMonth Sold Volume ($) Sq. Ft. Unit Price $/Sq. Ft.

December 10 360 $131,160,023 420,372 $364,333 $312

January 11 253 $89,158,400 299,812 $352,405 $297

February 11 268 $100,681,650 319,604 $375,678 $315

March 11 268 $106,234,770 316,095 $396,398 $336

April 11 335 $122,410,845 394,753 $365,406 $310

May 11 287 $105,003,300 331,270 $365,865 $317

June 11 260 $99,988,500 311,948 $384,571 $321

July 11 298 $107,743,200 341,026 $361,554 $316

August 11 380 $132,598,072 436,679 $348,942 $304

September 11 316 $103,262,481 345,110 $326,780 $299

October 11 308 $126,035,831 368,028 $409,207 $342

November 11 275 $101,290,733 313,532 $368,330 $323

December 11 337 $132,052,800 384,934 $391,848 $343

Breakdown by Area - 4th Quarter 2011 Units Total Sales Total Average AverageArea Sold Volume ($) Sq. Ft. Unit Price $/Sq. Ft.

Brickell 463 $200,489,433 552,071 $433,023 $363

CBD 261 $84,522,061 266,423 $323,839 $317

Arts & Ent. 85 $37,111,020 116,118 $436,600 $320

Wynwd./Edgwtr. 111 $37,256,850 131,882 $335,647 $283

Total Q4 920 $359,379,364 1,066,494 $390,630 $337

About Cervera’s Numbers40,000 Condominium units sold 250 Licensed Professionals 72 Condominium Projects Represented Exclusively 20 Real Estate Offices 4 Counties with Offices 1 Reputable Brand Known Throughout Key Markets in South Florida, Latin America and Europe.

12/101/112/113/114/115/116/117/118/119/11

10/1111/1112/11

Average Sales Price Trend

Average Unit Sales Price

Mon

ths

$364,333

$352,405

$375,678

$396,398

$365,406

$365,865

$384,571

$361,554

$348,942

$326,780

$409,207

$368,330

$391,848

$50K$100K

$150K$200K

$250K$300K

$350K$400K

$450K$500K

Mon

ths

12/101/112/113/114/115/116/117/118/119/11

10/1111/1112/11

Average Sales Price Per Square Foot

Price per square foot

$312

$297

$315

$336

$310

$317

$321

$316

$304

$299

$342

$323

$343

$0$50

$100$150

$200$250

$300$350

$400

12/10

1/11

2/11

3/11

4/11

5/11

6/11

7/11

8/11

9/11

10/11

11/11

12/11

Foreclosure Recordings

4816

42

26

33

37

25

45

40

29

35

58

52

0 50100

150

37

23

28

69

14

19

39

20

30

Foreclosure Ac�vity by Stage of ProcessPreForeclosure Filings Auc�on

Mon

ths

46

18

28

12/101/112/113/114/115/116/117/118/119/11

10/1111/1112/11

Average Residen�al Rental Rate Trends

Average Monthly Rental

$1,976

$2,012

$1,981

$2,015

$2,023

$2,005

$2,097

$2,103

$2,211

$2,199

$2,146

$2,300

$2,314

$600$800

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000

$2,200

$2,400

Mon

ths

The Miami Downtown DevelopmentAuthority DDA Fast Facts:

Miami DDA Area: 1.7 Square Miles2010 Popula on: 71,0002010 Day me Popula on: 194,0002014 Projected Popula on: 81,10022,079 Residen al Units Built Since 200318.6 Million Sq. Ft. of Office Space6,096 Hotel Rooms

12/10

1/11

2/11

3/11

4/11

5/11

6/11

7/11

8/11

9/11

10/11

11/11

12/11

Units

360268

268

0100

200300

400500

357

349

388

463

398

477

478

377

327

Sales and Leasing Ac�vity Sales Leases

Mon

ths

433

391

294

42

253

268

335

287

260

298

380

316

308

275

337

Cervera Management, Inc.Manage logistics of owning a second home or rental property• Receive and deposit rent• Estimates for property upkeep• Send rental invoices to tenant• Post 3-day notice on premise when rental payment is late

Coordination of services• Repairs • Cleaning • Upgrades • Maintenance

Administrative payments• Utilities • Mortgage • Real Estate Taxes• Insurance • Credit cards • Maintenance fees

Submit property reports• Monthly or quarterly statements • Annual summary of income and expenses

Facilitate insurance estimates

Five Services for One Price - Management Fees Start at $80 per Month305.374.3434 | cervera@cervera.com

• Inventory property when lease expires• Interface with the tenant on your behalf• Credit card rent payment service option

Patricia and Phillip Frost Museum of Science

American Airlines Arena

Miami Art Museum

Marquis ResidencesRepresented exclusively by Cervera

Rising over Biscayne Bay and Downtown Miami, Marquis Residences offers a truly ideal address and exclusive lifestyle in South Florida. Breathtaking views, amazing amenities and five-star services are just a few reasons why the project is over 84% sold. For more information on Marquis, call the Sales Office at 305.571.4000.

D

BrickellHouse SuccessRepresented exclusively by Cervera

Sales continue to grow at a fast pace! BrickellHouse is Miami’s newest and most sophisticated residential address designed by Sieger Suarez with interiors by Yabu Pushelberg. This 374 unit residential ‘green’ building project by Newgard Development Group boasts the first residential robotic parking garage in SE United States. Other features include innovative design, beautiful views and a 46th floor pool sky deck. For more information, contact the Sales Office at 305.938.5711.

GROVE AT GRAND BAY Represented exclusively by Cervera

Here the dense canopy of Coconut Grove meets open water and the views from the site are breathtaking. This private world of GROVE AT GRAND BAY is developed by TERRA Group, designed by Bjarke Ingels of BIG, a world-renowned architecture firm based in Denmark - in collaboration with John Nichols, a renowned Miami based architect; and the lush gardens are designed by Raymond Jungles. This LEED Certified development offers two towers; the north with 59 residences and the south with 37 - all within 3 acres. The two to five bedroom Residences range from 2000 to over 5000 Sq. Ft. For more information contact the Sales Office at 305.929.8646.

Cervera Corporate Office | 1492 S Miami Ave | 305.374.3434

Cervera Brickell Key II Office | 540 Brickell Key Dr | 305.374.3334

Cervera 50 Biscayne Office | 20 S Biscayne Blvd | 305.373.3510

Cervera 900 Biscayne Bay Office | 900 Biscayne Blvd | 305.733.0445

Cervera One Miami Office | 325 S Biscayne Blvd | 305.373.3737

Cervera Marquis Sales Office | 1100 Biscayne Blvd Way | 305.571.4000

Cervera Epic Office | 270 Biscayne Blvd Way | 305.400.7399

Cervera BrickellHouse Sales Office | 1200 Brickell Ave, Suite 1500 | 305.938.5707

Miami Downtown Development Authority (DDA) | 200 S Biscayne Blvd

Miami-Dade College Wolfson Campus | 300 NE 2nd Ave

FIU Business School | 1101 Brickell Ave

Miami Federal Courthouse | 400 N Miami Ave

Miami-Dade Public Library & Miami Art Museum | (same address) 101 W Flagler St

Bayfront Park | 301 N Biscayne Blvd

Bayside Marketplace | 401 Biscayne Blvd

Adrienne Arsht Center for the Performing Arts | 1300 Biscayne Blvd

Museum Park

Garcia’s Seafood Grille & Seafood Market | 398 NW River Dr Brickell A

veS M

iami Ave

SW 15th RdSW 3rd AveSW 13th St

SW 8th St

SW 7th St

Bric

kell

Ave

SW 3rd St

W Flagler St

NW 5th StNW 6th St

NW 8th St

NW

2nd

Ave

SW 2nd StSW 1st St

NW 14th St

NE

2nd

Ave

NE

1st A

veS

Mia

mi A

ve

L

OM C

NI E

F

G

Q

A

B

MacArthur Causeway

J

N M

iam

i Ave

BicentennialPark

Brickell KeyPark

Port Blvd41

1

968

972

90

H

P

Vene�an Causeway

R

D

Bisc

ayne

Blv

d.

K BrickellKey Dr

A

B

C

E

F

G

I

J

K

L

M

N

O

Downtown Miami

H

P

Q

Developers are now launching new projects in downtown, starting the next wave of development much sooner than anyone had predicted.

Downtown Miami is one of the most

active real estate markets in the country,

thanks to strong rental demand from

young professionals who want to live

in our urban core and interest from

international buyers who see the

value in buying real estate here,” said

Alyce Robertson, executive director of

the Miami Downtown Development

Authority. “Seeing that existing condo

inventory continues to dwindle while

demand persists, developers are now

launching new projects in downtown,

starting the next wave of development

much sooner than anyone had predicted.

Source: MLxchange. Cervera and the Miami DDA make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the contents of this advertisement and expressly disclaims liability for errors and omissions of third-party content.

International Investment in Downtown MiamiA Message from the Miami DDA:

“Our recent survey and primary research showing overall multifamily residential occupancy of 93% in the downtown area is a dramatic change from forecasts just 36 months ago. The result of the expanded population reflected by the occupancy level is the emergence of the downtown area as a diverse and expanding economic base and the transition to a bona-fide live/work urban core environment.” (Goodkin)

The information below is an excerpt of a report compiled by Goodkin Consulting, commissioned by the Miami DDA. It is a statistical update of key residential market trends in the Downtown Miami area and designed to inform residents and business owners. The information presented is based on direct research of public records, MLS and other independent sources. A copy of the full report is available for download at www.miamidda.com.

About the Market Trend Update

R

Downtown Study Area Residen�al SalesDec. 2010 - Dec. 2011

Monthly Sales Profile Units Total Sales Total Average AverageMonth Sold Volume ($) Sq. Ft. Unit Price $/Sq. Ft.

December 10 360 $131,160,023 420,372 $364,333 $312

January 11 253 $89,158,400 299,812 $352,405 $297

February 11 268 $100,681,650 319,604 $375,678 $315

March 11 268 $106,234,770 316,095 $396,398 $336

April 11 335 $122,410,845 394,753 $365,406 $310

May 11 287 $105,003,300 331,270 $365,865 $317

June 11 260 $99,988,500 311,948 $384,571 $321

July 11 298 $107,743,200 341,026 $361,554 $316

August 11 380 $132,598,072 436,679 $348,942 $304

September 11 316 $103,262,481 345,110 $326,780 $299

October 11 308 $126,035,831 368,028 $409,207 $342

November 11 275 $101,290,733 313,532 $368,330 $323

December 11 337 $132,052,800 384,934 $391,848 $343

Breakdown by Area - 4th Quarter 2011 Units Total Sales Total Average AverageArea Sold Volume ($) Sq. Ft. Unit Price $/Sq. Ft.

Brickell 463 $200,489,433 552,071 $433,023 $363

CBD 261 $84,522,061 266,423 $323,839 $317

Arts & Ent. 85 $37,111,020 116,118 $436,600 $320

Wynwd./Edgwtr. 111 $37,256,850 131,882 $335,647 $283

Total Q4 920 $359,379,364 1,066,494 $390,630 $337

About Cervera’s Numbers40,000 Condominium units sold 250 Licensed Professionals 72 Condominium Projects Represented Exclusively 20 Real Estate Offices 4 Counties with Offices 1 Reputable Brand Known Throughout Key Markets in South Florida, Latin America and Europe.

12/101/112/113/114/115/116/117/118/119/11

10/1111/1112/11

Average Sales Price Trend

Average Unit Sales Price

Mon

ths

$364,333

$352,405

$375,678

$396,398

$365,406

$365,865

$384,571

$361,554

$348,942

$326,780

$409,207

$368,330

$391,848

$50K$100K

$150K$200K

$250K$300K

$350K$400K

$450K$500K

Mon

ths

12/101/112/113/114/115/116/117/118/119/11

10/1111/1112/11

Average Sales Price Per Square Foot

Price per square foot

$312

$297

$315

$336

$310

$317

$321

$316

$304

$299

$342

$323

$343

$0$50

$100$150

$200$250

$300$350

$400

12/10

1/11

2/11

3/11

4/11

5/11

6/11

7/11

8/11

9/11

10/11

11/11

12/11

Foreclosure Recordings

4816

42

26

33

37

25

45

40

29

35

58

52

0 50100

150

37

23

28

69

14

19

39

20

30

Foreclosure Ac�vity by Stage of ProcessPreForeclosure Filings Auc�on

Mon

ths

46

18

28

12/101/112/113/114/115/116/117/118/119/11

10/1111/1112/11

Average Residen�al Rental Rate Trends

Average Monthly Rental

$1,976

$2,012

$1,981

$2,015

$2,023

$2,005

$2,097

$2,103

$2,211

$2,199

$2,146

$2,300

$2,314

$600$800

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000

$2,200

$2,400

Mon

ths

The Miami Downtown DevelopmentAuthority DDA Fast Facts:

Miami DDA Area: 1.7 Square Miles2010 Popula on: 71,0002010 Day me Popula on: 194,0002014 Projected Popula on: 81,10022,079 Residen al Units Built Since 200318.6 Million Sq. Ft. of Office Space6,096 Hotel Rooms

12/10

1/11

2/11

3/11

4/11

5/11

6/11

7/11

8/11

9/11

10/11

11/11

12/11

Units

360268

268

0100

200300

400500

357

349

388

463

398

477

478

377

327

Sales and Leasing Ac�vity Sales Leases

Mon

ths

433

391

294

42

253

268

335

287

260

298

380

316

308

275

337

Cervera Management, Inc.Manage logistics of owning a second home or rental property• Receive and deposit rent• Estimates for property upkeep• Send rental invoices to tenant• Post 3-day notice on premise when rental payment is late

Coordination of services• Repairs • Cleaning • Upgrades • Maintenance

Administrative payments• Utilities • Mortgage • Real Estate Taxes• Insurance • Credit cards • Maintenance fees

Submit property reports• Monthly or quarterly statements • Annual summary of income and expenses

Facilitate insurance estimates

Five Services for One Price - Management Fees Start at $80 per Month305.374.3434 | cervera@cervera.com

• Inventory property when lease expires• Interface with the tenant on your behalf• Credit card rent payment service option

Patricia and Phillip Frost Museum of Science

American Airlines Arena

Miami Art Museum

Marquis ResidencesRepresented exclusively by Cervera

Rising over Biscayne Bay and Downtown Miami, Marquis Residences offers a truly ideal address and exclusive lifestyle in South Florida. Breathtaking views, amazing amenities and five-star services are just a few reasons why the project is over 84% sold. For more information on Marquis, call the Sales Office at 305.571.4000.

D

BrickellHouse SuccessRepresented exclusively by Cervera

Sales continue to grow at a fast pace! BrickellHouse is Miami’s newest and most sophisticated residential address designed by Sieger Suarez with interiors by Yabu Pushelberg. This 374 unit residential ‘green’ building project by Newgard Development Group boasts the first residential robotic parking garage in SE United States. Other features include innovative design, beautiful views and a 46th floor pool sky deck. For more information, contact the Sales Office at 305.938.5711.

GROVE AT GRAND BAY Represented exclusively by Cervera

Here the dense canopy of Coconut Grove meets open water and the views from the site are breathtaking. This private world of GROVE AT GRAND BAY is developed by TERRA Group, designed by Bjarke Ingels of BIG, a world-renowned architecture firm based in Denmark - in collaboration with John Nichols, a renowned Miami based architect; and the lush gardens are designed by Raymond Jungles. This LEED Certified development offers two towers; the north with 59 residences and the south with 37 - all within 3 acres. The two to five bedroom Residences range from 2000 to over 5000 Sq. Ft. For more information contact the Sales Office at 305.929.8646.

LEASED

LEASED

LEASED

LEASED

MARKET UPDATECervera Real Estate Market Update in collaboration with the Miami DDA

Issue 2 | April 2012

Languages Spoken:Spanish, German, Portuguese, French,

Hebrew, Dutch, Russian, Italian

Luxury Residential TeamGabriella Bailom

Petra BensoussanCarolina Pupo

Commercial Leasing Specialists | Restaurant & RetailWolfgang Herz and Ricardo Du Pond

EPIC RetailDowntown

2,500 sf

Zuma

Hampton Inn RetailBrickell

10,000 sf

Kukaramakara

Vice LoungeMiami Beach

10,000 sf

Lucky Clover & Mare Nostrum

1800 Biscayne RetailUptown7,029 sf

Piola

FOR SALE

TEQUESTA 3 PH4604$4,5 M

RITZ 1025$569,000

EPIC 707$1,5 M

EPIC 3607$1,2 M

EPIC 4804$1,15 M

FOR LEASE

TEQUESTA 3 PH4604$25,000

EPIC 902$6,500

EPIC 707$5,900

EPIC 3607$5,200

AXIS 2524$2,000

305.970.7260 | www.whmiami.com | wherz@cervera.comServicing all of South Florida

Your Downtown Miami and Brickell Specialist

Ask me today about these exclusive development projects represented by Cervera:

BrickellHouse Brickell

MarquisDowntown

EpicDowntown

Ocean HouseSouth Beach

Cervera Real Estate and the Miami Downtown Development Authority are pleased to bring you this residential market update. As indicated throughout this report, Downtown Miami continues to see consistent, positive growth. By the end of 2011, occupancy in new

condominium buildings (including owners and renters) climbed 7 percentage points to 93% from 86% at year-end 2010. As a downtown resident/business owner it is valuable for you to know what’s happening in your area. We hope you find the information useful.

Join the new era of Cervera! We offer exceptional training,

dynamic locations, innovative marketingand so much more.

For a confidential meeting please contactMarketing@Cervera.com.

Check out our Facebook page forfor ongoing market updates

Facebook.com/CerveraRE | www.Cervera.com305.374.3434

What’s inside…• Sales & Leasing Activity Report

• Number of Residential Sales

• Sales & Rental Price Trends

• Top Downtown Buildings

• Foreclosure Activity

• Downtown Updates

• Downtown Map

Cervera Real Estate1492 S. Miami AvenueMiami, FL 33130

Downtown Miami & Brickell Hit 93% Occupancy RateKey Highlights2011 Year-End Update

• More than 99% of new units completed before 2006 have been sold

• 77% of new units built between 2007-2011 have been sold

• Unsold inventory declined to 3,728 from 5,000 in the year prior

• 45% of total sales were first-time new unit sales in new buildings

• Average sales price of new units increased 11.7%

• Average price of new units per square foot increased 12.6%

• Foreclosure activity remains low due to all-cash purchases

• Average monthly residential leasing velocity is up 6.5%

• Renters account for approximately 56% of occupied units

Occupancy for New Condominium Units

2010 2011

86% 93%

JUST SOLD

50 Biscayne #19082BD/2BA | 1,357 sf

One Miami #24002BD/2BA | 1,105 sf

JUST SOLD

ICON Brickell #23081BD/1BA | 732 sf

JUST SOLD

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