second quarter 2019 miami beach luxury condo reportmedia.bhsusa.com/miami/bhsmiami-reports/q2...

This report highlights any transactions entered into the Multiple Listing Service (MLS) and does not include developer sales or new construction that is not included within the MLS.

Second Quarter 2019 Miami Beach Luxury Condo Report

This report highlights any transactions entered into the Multiple Listing Service (MLS) and does not include developer sales or new construction that is not included within the MLS.

2

bhsmiami.com Q2 2019 Miami Beach Luxury Condo Report

PROJECT One Ocean Apogee Continuum South Continuum North

DEVELOPER Related Group Related Bruce Eichner Bruce Eichner

ARCHITECT Enrique Norten/TEN Arquitectos Sieger-Suarez Fullerton-Diaz Sieger-Suarez

ADDRESS 1 Collins Ave. 800 S. Pointe Dr. 100 S. Pointe Dr. 50 S. Pointe Dr.

PROJECT AREA Miami Beach Miami Beach Miami Beach Miami Beach

FLOORS 7 22 40 37

UNITS 50 67 318 203

COMPLETION DATE 2016 2007 2002 2007

PROJECT ICON South Beach The Setai Faena House Edition

DEVELOPER Related Setai Group Faena Group Ian Schrager

ARCHITECT Michael Graves Alayo & Denniston Foster +Partners John Pawson

ADDRESS 450 Alton Rd. 101 20th St. 3315 Collins Ave. 2901 Collins Ave.


FLOORS 35, 40 41 16 11

UNITS 290 163 44 26


Miami Beach Market Report Condo Resales

3


PROJECT The St. Regis Marea Miami Beach South Pointe Towers Murano Grande

DEVELOPER Starwood Related John A. Hinson Related

ARCHITECT Sieger-Suarez Sieger-Suarez – Sieger-Suarez

ADDRESS 9701, 9703, & 9705 Collins Ave. 801 S Pointe Dr. 400 South Pointe Dr. 400 Alton Rd.


FLOORS 24 8 25 25, 31, 37

UNITS 268 30 208 270


PROJECT Murano Portofino W Hotel/Residences One Hotel & Homes Glass

DEVELOPER Related Tristar, Related, Starwood

LeFrak and Starwood Capital Terra Group

ARCHITECT Sieger-Suarez Nichols Brosch & Costas Kondylis HKS Inc. & Kobi Karp Rene Gonzalez

ADDRESS 1000 S. Pointe Dr. 2201 Collins Ave. 102 24th St. 120 Ocean Dr.


FLOORS 17, 28, 37 20 17 18

UNITS 189 511 158 10


Miami Beach Market Report Condo Resales

4


$2,7

00,0

00

$13,

500,

000

$4,7

96,8

57

$3,7

53,5

00

$5,0

00,0

00

$4,8

70,0

00

$0

$1,4

53,4

00

$4,6

57,5

00

$1,8

38,0

00

$2,0

76,2

50

$0

$9,5

25,0

00

$1,0

68,7

50

$3,9

40,0

00

$1,7

50,0

00

k2M4M6M8M

10M12M14M16M

$5,216,667

$2,150,000

$5,000,000

$2,000,000 $1,748,750

$3,850,000

$882,000

$6,475,000

$837,500

$5,2

16,6

67

$2,15

0,00

0

$5,0

00,0

00

$2,0

00,0

00

$1,7

48,7

50 $3,8

50,0

00

$6,4

75,0

00

$837

,500

k

1M

2M

3M

4M

5M

6M

7M

1 HOTEL + HOMES

APOGEE

CONTINU

UM NO

RTH

CONTINU

UM SOUTH

EDITION

FAENA HOUSE

GLASS

ICON

MAREA

MURANO GRANDE

MURANO PORTOFINO

ONE OCEAN

SETAI

SOUTH POIN

TE

ST REGIS

W HOTEL & RESIDENCES

2018

$2,4

18,5

71

$7,2

50,0

00

$3,2

16,6

67

$5,0

08,3

33

$0 $0 $0

$954

,950

$0

$1,5

00,0

00

$4,5

25,0

00 $3,5

37,5

00

$0

$771

,167

$4,12

8,00

0

$1,12

5,00

0

k1M2M3M4M5M6M7M8M

1 HOTEL + HOMES

APOGEE

CONTINU

UM NO

RTH

CONTINU

UM SOUTH

EDITION

FAENA HOUSE

GLASS

ICON

MAREA

MURANO GRANDE

MURANO PORTOFINO

ONE OCEAN Se

tai

SOUTH POIN

TE

ST REGIS

W HOTEL &…

2018

#OF SALES 7 3 6 0 0

Q2

2019

AVG

. SA

LES

#OF SALES 3 7 5 1 0

Q2

2018

A

VG. S

ALE

SMiami Beach Market Report Condo Resales Year Over Year Sales

$1,2

42,5

00

$0

$4,4

00,0

00

$3,4

25,0

00 $5,4

00,0

00

$0 $0

$1,7

50,0

00

$0

$2,3

63,5

71

$3,3

36,6

00

$3,7

65,0

00

$2,5

77,5

00

$1,4

96,9

64 $3,3

08,3

33

$3,2

86,0

00

k

1M

2M

3M

4M

5M

6M

1 HOTEL +

…

APOGEE

CONTINUU…

CONTINUU…

EDITIO

NFA

ENA…

GLASS

ICON

MAREA

MURANO…

MURANO…

ONE OCEA

NSeta

i

SOUTH…

ST REGIS

W H

OTEL &…

#OF SALES 2 2 2 1 0

Q2

2017

A

VG. S

ALE

S

0 7 5 3 6 7 3 51

2 5 4 0 1 4 5 151 2

1 0 1 3 1 0 3 5 120

0 0

5


283 33

Active Closed

Total # of Active & Closed Units

CLOSED SALESAverage Sale Price $3,287,300

Average Sale Price Per Square Foot $1,469

Median Sale Price $2,390,000

Median Sale Price Per Square Foot $1,339

Number of Sales (Closed) 33

Days on Market 190

ACTIVE LISTINGSAverage List Price $3,988,639

Average List Price Per Square Foot $1,872

Median List Price $3,050,000

Median List Price Per Square Foot $1,754

Listing Inventory (Active) 283

Listing Discount From Original List Price 16%

Absorption Period (Months) 25.7

Condo Mix # Sold Sales Share Med. Sales Price

Studio 0 0% 0

1 - bedroom 7 21% $1,200,000

2 - bedroom 15 45% $2,200,000

3 - bedroom 9 27% $5,700,000

4 - bedroom 1 3% $3,537,500

5 - bedroom 1 3% $13,000,000

Total Sales Volume $108,480,900

$3,988,639

$3,287,300$3,050,000

$2,390,000

$1,872

$1,469

$1,754

$1,339

k

k

k

1k

1k

1k

1k

1k

2k

2k

2k

k

1M

2M

3M

4M

5M

Active Closed

Average and Median Price & PPSF

Average Median Avg. PPSF Median PPSF

$3,988,639

$3,287,300$3,050,000

$2,390,000

$1,872

$1,469

$1,754

$1,339

k

k

k

1k

1k

1k

1k

1k

2k

2k

2k

k

1M

2M

3M

4M

5M

Active Closed




5

17

4

4

2

$500 -‐ $1,000

$1,000 -‐ $1,500

$1,500 -‐ $2,000

$2,000 -‐ $2,500

$2,500 -‐ $3,000

Number of Sales by PPSF

310

84

03

11

3

0 2 4 6 8 10 12

Below $999,999

$1,000,000 -‐ $1,999,999$2,000,000 -‐ $2,999,999

$3,000,000 -‐ $3,999,999

$4,000,000 -‐ $4,999,999$5,000,000 -‐ $5,999,999

$6,000,000 -‐ $6,999,999$7,000,000 -‐ $7,999,999

Above $8,000,000

Number of Sales By Absolute Dollar Amount

$3,830,430

$2,982,152$2,872,500$2,550,000

$1,868

$1,346

$1,735

$1,399

k

k

k

1k

1k

1k

1k

1k

2k

2k

2k

k

1M

2M

3M

4M

5M

Active Closed



$3,830,430

$2,982,152$2,872,500$2,550,000

$1,868

$1,346

$1,735

$1,399

k

k

k

1k

1k

1k

1k

1k

2k

2k

2k

k

1M

2M

3M

4M

5M

Active Closed



Miami Beach Market Report Condo Resales Q2 2019 (Apr-Jun) Sales Market Snapshot

6


$1,401

$1,672

$1,17613

14

6

0

5

10

15

20

$0

$500

$1,000

$1,500

$2,000

Apr May Jun

PPSF # Closed Units

$1,401

$1,672

$1,176191

162

252

0

100

200

300

$0

$500

$1,000

$1,500

$2,000

Apr May Jun

PPSF DOM

From April to June, the

number of sales fell by

7 sales and the average

price per SQFT dropped

by $225 dollars.

The average Days on

Market increased by 61

days, from April to June.

Average PPSF and # of Closed Units by Month

Average $PSF and DOM by Month

$1,014

$1,672 $1,640

11

4

8

0

5

10

15

20

$0

$500

$1,000

$1,500

$2,000

Jul Aug Sep

PPSF # Closed Units

$1,014

$1,672 $1,640

201

304

95

0

100

200

300

400

$0

$500

$1,000

$1,500

$2,000

Jul Aug Sep

PPSF DOM

MIAMI BEACH MARKET REPORT CONDO RESALES Q2 2018 (APRIL-JUNE) SALES

Miami Beach Market Report Condo Resales Q2 2019 (Apr-Jun) Sales

7


Average Active & Closed $PSF and Total # of Units Sold by Building

Average Active & Closed Price and Total # of Units Sold by Building

$1,905

$2,690

$2,252 $2,174$2,619

$2,950

$2,502

$1,132$1,475

$1,057$1,603

$1,862

$2,567

$1,179

$2,138 $1,927

$1,511

$2,336

$1,630$1,834

$661

$1,053

$1,753

$1,091

$720

$1,501$1,324

7

1

3

6

2

1

3

1

3

5

1

0

1

2

3

4

5

6

7

8

k

1k

2k

3k

4k

1 HOTEL &HOMES

APOGEE CONTINUUMNORTH

CONTINUUMSOUTH

EDITION FAENA HOUSE GLASS ICON MAREA MURANOGRANDE

MURANOPORTOFINO

ONE OCEAN SETAI SOUTH POINTETOWERS

ST REGIS W SOUTHBEACH

Active Closed # Closed Units

$2,942,800

$8,347,000

$5,358,130 $5,114,560

$7,756,000

$8,640,833

$7,231,667

$2,134,176$3,379,900

$2,660,070

$3,730,717

$4,953,455

$3,696,313

$1,563,200

$5,792,613

$1,569,958$2,418,571

$7,250,000

$3,216,667

$5,008,333

$954,950

$1,500,000

$4,525,000

$3,537,500

$771,167

$4,128,000

$1,125,000

7

1

3

6

2

1

3

1

3

5

1

0

1

2

3

4

5

6

7

8

k

1M

2M

3M

4M

5M

6M

7M

8M

9M

10M

1 HOTEL &HOMES


CONTINUUMSOUTH


MURANOPORTOFINO





$1,817

$2,940

$2,019$2,335

$2,152

$3,187

$2,803

$1,117

$1,750

$1,272 $1,151

$1,959$1,749

$2,689

$1,954$2,126

$798

$2,131

$1,799$961 $1,103

$1,830

$2,971

$1,334

$1,8795

2 2

5

4

1 1 1

2

0

1

2

3

4

5

6

7

8

k

1k

2k

3k

4k

1 HOTEL AND HOMES

APOGEE CONTINUUM NORTH

CONTINUUM SOUTH

EDITION FAENA HOUSE GLASS ICON IL VILLAGGIO MAREA MURANO GRANDE

MURANO PORTOFINO

ONE OCEAN ST. REGIS THE SETAI W HOTEL & RESIDENCES


$1,817

$2,940

$2,019$2,335

$2,152

$3,187

$2,803

$1,117

$1,750

$1,272 $1,151

$1,959$1,749

$2,689

$1,954$2,126

$798

$2,131

$1,799$961 $1,103

$1,830

$2,971

$1,334

$1,8795

2 2

5

4

1 1 1

2

0

1

2

3

4

5

6

7

8

k

1k

2k

3k

4k

1 HOTEL AND HOMES

APOGEE CONTINUUM NORTH

CONTINUUM SOUTH

EDITION FAENA HOUSE GLASS ICON IL VILLAGGIO MAREA MURANO GRANDE

MURANO PORTOFINO

ONE OCEAN ST. REGIS THE SETAI W HOTEL & RESIDENCES


8


Average Active PPSF by Building and Unit Type

Average Closed PPSF by Building and Unit Type

$1,439

$1,969

$1,605

$1,447$1,701 $1,517

$2,954

$799

$2,312

$1,149

$1,964

$1,819

$2,137

$1,845 $2,044

$2,583 $2,583 $2,577

$1,005$1,065

$799

$1,314 $1,228

$2,519

$1,093$1,957

$2,111$2,079

$2,690

$2,874

$2,401

$2,121

$2,464

$1,528 $1,543 $1,395

$1,796 $1,661

$3,147

$1,090

$2,304

$2,871$2,978

$4,289

$3,499

$1,083

$2,300

$1,589

$2,542

$3,583

$1,786 $1,963

k

1k

2k

3k

4k

5k

1 HOTEL ANDHOMES


CONTINUUMSOUTH


MURANOPORTOFINO



Studio 1 BR 2 BR 3 BR 4 BR 5 BR

$1,375$1,147

$670

$1,324$1,494$1,433

$661

$1,053$1,248

$745$1,326

$1,783

$2,336 $2,249 $2,302

$2,764

$1,764

$1,091

$2,969

k

1k

2k

3k

4k

1 HOTEL ANDHOMES


CONTINUUMSOUTH


MURANOPORTOFINO





$1,948

$1,599 $1,404 $1,588 $1,517

$787

$888

$2,557

$1,149

$1,970 $1,795

$2,158

$1,767 $1,857

$2,768 $2,792$2,577

$1,019$1,147

$862

$1,437 $1,413

$2,586

$1,127

$1,862

$2,213$2,041

$2,658

$3,042

$2,095$2,004

$2,417

$1,576 $1,643$1,378

$1,799$1,935

$3,147

$1,249

$2,187

$2,425$2,865

$2,978

$4,289

$3,499

$1,083

$2,300

$1,493 $1,520

$3,381

$2,051

$3,649

$1,719

k

1k

2k

3k

4k

5k

1 HOTEL ANDHOMES


CONTINUUMSOUTH


MURANOPORTOFINO




9


Of the 16 comparable condominiums noted, 11 had sales in Q2 2019 (69% had sales).

1 Hotel and Homes held the highest number of sales at 7.

Icon the highest active listings at 34 listings.

The W South Beach Residences holds the lowest average Days on Market at 32 days.

15

5

30

31

5

6

3

34

10

29

15

11

22

10

31

26

7

1

3

6

2

1

3

1

3

5

1

0 5 10 15 20 25 30 35 40

1 HOTEL & HOMES

APOGEE

CONTINUUM NORTH

CONTINUUM SOUTH

EDITION

FAENA HOUSE

GLASS

ICON

MAREA

MURANO GRANDE

MURANO PORTOFINO

ONE OCEAN

SETAI

SOUTH POINTE TOWERS

ST REGIS

W SOUTH BEACH

# Closed Units # Active Units

Total # of Active and Closed Units by Building

187

393

233269

159 175

56

334

82

194

32

7

1

3

6

2

1

3

1

3

5

1

0

1

2

3

4

5

6

7

8

0

50

100

150

200

250

300

350

400

450

1 HOTEL &

HOMES

APOGEE

CONTINUUM NORTH

CONTINUUM SOUTH

EDITION

FAENA HOUSE

GLASSIC

ON

MAREA

MURANO GRANDE

MURANO PORTOFINO

ONE OCEAN

SETAI

SOUTH POINTE TOW

ERS

ST REGIS

W SOUTH BEACH

DOM # Closed Units

Average Days On Market and Total # of Units Sold by Building


175

225

331

76

156

252

172

29

368

5

2 2

5

4

1 1 1

2

0

1

2

3

4

5

6

0

50

100

150

200

250

300

350

400 DOM # Closed Units

10


$1,925 $1,696 $1,637$2,057

$2,563

$1,719

$1,234 $1,171

$2,093

$1,091

$2,969

7

15

9

1 10

2

4

6

8

10

12

14

16

k

1k

2k

3k

4k



Average Active & Closed $PSF and # of Units Sold by Unit Type

Two bedroom units hold

the highest number of sales

at 15 sales.

Two bedroom units hold

an average sales price of

$1,934,227 and a closed

price per SQFT of $1,171.

$1,022,242$1,622,866

$2,621,529

$5,711,259

$9,196,611

$6,500,000

$1,185,714$1,934,227

$6,070,000

$3,537,500

$13,000,000

7

15

9

1 10

2

4

6

8

10

12

14

16

k

4M

8M

12M

16M



Average Active & Closed Price and Total # of Units Sold by Unit Type


11


92

180

269

334

1517

15

9

1 10

2

4

6

8

10

12

14

16

0

50

100

150

200

250

300

350

400


DOM # Closed Units

Average Days On Market and Total # of Units Sold by Unit Type

Two bedroom units

continue to hold the

highest active listings at

120 listings.

Four bedroom units hold

the highest Days on Market

at 334 days.

Studios hold the lowest

sales at 0 sales each.

One bedroom units hold

the lowest average Days on

Market at 92 days with a

total of 7 sales.

12

38

120

85

27

1

7

15

9

1

1

0 20 40 60 80 100 120 140

Studio

1 BR

2 BR

3 BR

4 BR

5 BR

# Closed Units # Active Units

Total # of Active and Closed Units by Unit Type


354

92

245

104

2

10 10

10

2

4

6

8

10

12

0

50

100

150

200

250

300

350

400


DOM # Closed Units

Active units represent the number of currently active units on 7/1/19. Source for all re-sale values: flexmls.com.

CONTINUUM 40 S Pointe Dr, Suite 110, Miami Beach, FL 33139 t: 305.695.1111

SUNSET HARBOUR 1820 Bay Road, Miami Beach, FL 33139 t: 305.726.0100

KEY BISCAYNE 755 Crandon Boulevard, Key Biscayne, FL 33149 t: 305.361.6666

COCONUT GROVE 2665 S Bayshore Dr, Suite 100, Miami, FL 33133 t: 305.666.1800

SOUTH MIAMI 7500 Red Road, Suite A, South Miami, FL 33143 t: 305.662.9975


second quarter 2019 miami beach luxury condo reportmedia.bhsusa.com/miami/bhsmiami-reports/q2...

Documents