First Quarter 2019 Miami Beach Luxury Condo Reportmedia.bhsusa.com/pdf/BHS_Miami_LUX_MR_1Q19.pdf · First Quarter 2019 . Miami Beach . Luxury Condo Report. This report hihlihts any

First 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 Q1 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


$3,5

62,0

00

$10,

312,

500

$1,9

58,3

33

$6,2

05,0

00

$2,4

14,3

33

$1,6

75,0

00

$3,7

25,0

00

$3,4

65,0

00

$2,4

00,0

00

$1,0

40,0

00 $4,3

75,0

00

$4,0

11,6

67

k

2M

4M

6M

8M

10M

12M

$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

12,5

00

$11,3

00,0

00

$2,6

14,3

75

$3,7

57,16

7

$1,0

25,0

00

$1,2

80,0

00

$1,17

1,500

$1,12

3,16

7 $4,5

08,8

00

$1,2

50,0

00

k

2M

4M

6M

8M

10M

12M

1 HOTEL AND H

OMES

APOGEE

CONTINU

UM NO

RTH

CONTINU

UM SOUTH

EDITION

FAENA HOUSE

GLASS

ICON

MAREA

MURANO GRANDE

MURANO PORTOFINO

ONE OCEAN

SOUTH POIN

TE TOWERS

ST REGIS SE

TAI

W HOTEL & RESIDENCES

2018

#OF SALES 4 4 6 0 0

Q1 2

019

AVG

. SA

LES

#OF SALES 4 3 4 0 0

Q1 2

018

AVG

. SA

LES

Miami Beach Market Report Condo Resales Year Over Year Sales

$5,4

87,0

00

$8,2

00,0

00

$3,2

00,0

00

$3,5

83,3

33

$5,0

00,0

00

$12,

500,

000

$1,5

00,0

00

$1,8

75,0

00

$1,6

40,6

25 $6,0

00,0

00

$2,5

50,0

00

$4,7

22,3

33

$1,8

33,3

33

$4,3

83,3

33

$1,4

25,0

00

k2M4M

6M8M

10M12M14M

1 HOTEL…

APOGEE

CONTINUU…

CONTINUU…

EDITIO

NFA

ENA…

GLASS

ICON

MAREA

MURANO…

MURANO…

ONE OCEA

N

SOUTH…

ST REGIS

SETAI

W H

OTEL &…

#OF SALES 2 2 6 1 0

Q1 2

017

AVG

. SA

LES

2 4 1 2 3 3 3 22

0 1 2 4 1 2 4 334 0

1 0 1 2 0 0 6 5 110

1 1

$5,4

87,0

00

$8,2

00,0

00

$3,2

00,0

00

$3,5

83,3

33

$5,0

00,0

00

$12,

500,

000

$1,5

00,0

00

$1,8

75,0

00

$1,6

40,6

25 $6,0

00,0

00

$2,5

50,0

00

$4,7

22,3

33

$1,8

33,3

33

$4,3

83,3

33

$1,4

25,0

00

k2M4M6M8M

10M12M14M

1 HOTEL +

…

APOGEE

CONTINUU…

CONTINUU…

EDITIO

NFA

ENA…

GLASS

ICON

MAREA

MURANO…

MURANO…

ONE OCEA

NSET

AI

SOUTH…

ST REGIS

W H

OTEL &…

$3,5

62,0

00

$10,

312,

500

$1,9

58,3

33

$6,2

05,0

00

$2,4

14,3

33

$1,6

75,0

00

$3,7

25,0

00

$3,4

65,0

00

$2,4

00,0

00

$1,0

40,0

00 $4,3

75,0

00

$4,0

11,6

67

k

2M

4M

6M

8M

10M

12M

$3,5

62,0

00

$10,

312,

500

$1,9

58,3

33

$6,2

05,0

00

$2,4

14,3

33

$1,6

75,0

00

$3,7

25,0

00

$3,4

65,0

00

$2,4

00,0

00

$1,0

40,0

00 $4,3

75,0

00

$4,0

11,6

67

k

2M

4M

6M

8M

10M

12M

5


319 31

Active Closed

Total # of Active & Closed Units

CLOSED SALESAverage Sale Price $2,875,210

Average Sale Price Per Square Foot $1,329

Median Sale Price $1,600,000

Median Sale Price Per Square Foot $1,151

Number of Sales (Closed) 31

Days on Market 199

ACTIVE LISTINGSAverage List Price $3,914,038

Average List Price Per Square Foot $1,822

Median List Price $2,975,000

Median List Price Per Square Foot $1,711

Listing Inventory (Active) 319

Listing Discount From Original List Price 16%

Absorption Period (Months) 30.9

Condo Mix # Sold Sales Share Med. Sales Price

Studio 0 0% $0

1 - bedroom 7 23% $800,000

2 - bedroom 15 48% $1,600,000

3 - bedroom 6 19% $4,200,000

4 - bedroom 3 10% $7,430,000

5 - bedroom 0 0% $0

Total Sales Volume $89,131,500

$3,914,038

$2,875,210$2,975,000

$1,600,000

$1,822

$1,329

$1,711

$1,151

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

$3,914,038

$2,875,210$2,975,000

$1,600,000

$1,822

$1,329

$1,711

$1,151

k

k

k

1k

1k

1k

1k

1k

2k

2k

2k

k

1M

2M

3M

4M

5M

Active Closed




11

10

6

2

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

612

34

1111

2

0 2 4 6 8 10 12 14

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 $11,000,000

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 Q1 2019 (Jan-Mar) Sales Market Snapshot

6


$1,307$1,777

$1,28811

4

16

0

5

10

15

20

$0

$500

$1,000

$1,500

$2,000

Jan Feb Mar

PPSF # Closed Units

$1,307 $1,777$1,288

183

286

189

0

100

200

300

$0

$500

$1,000

$1,500

$2,000

Jan Feb Mar

PPSF DOM

From January to March,

the number of sales

increased by 5 sales

and the average price

per SQFT dropped by

$19 dollars.

The average Days on

Market increased by

6 days, from January

to March.

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 Q1 2019 (Jan-Mar) Sales

7


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

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

$1,923

$2,658

$2,156$1,995

$2,558

$3,145

$2,457

$1,140

$1,574

$1,090

$1,579 $1,667

$2,702

$1,151

$2,043 $1,924

$1,440

$2,720

$1,527 $1,614

$667 $728$944

$818

$1,494 $1,4954

1

4

6

1 1

2

6

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 SOUTHPOINTE

TOWERS

ST REGIS W SOUTHBEACH

Active Closed # Closed Units

$3,158,300

$8,248,000

$4,834,048 $4,797,947

$7,414,833

$10,873,750

$7,392,500

$2,124,879

$3,701,083

$2,686,862$3,328,696 $3,733,857

$4,195,938

$1,363,746

$5,577,838

$1,574,896$2,412,500

$11,300,000

$2,614,375

$3,757,167

$1,025,000 $1,280,000

$1,171,500$1,123,167

$4,508,800

$1,250,000

4

1

4

6

1 1

2

6

5

1

0

1

2

3

4

5

6

7

8

k

2M

4M

6M

8M

10M

12M

1 HOTEL &HOMES


CONTINUUMSOUTH


MURANOPORTOFINO

ONE OCEAN SETAI SOUTH POINTETOWERS




$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

$1,948

$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



Studio 1 BR 2 BR 3 BR 4 BR 5 BR

$1,440

$1,011

$737

$737

$1,495

$2,018

$1,537

$667 $728

$1,151$830

$1,179

$2,797

$795

$1,799

$2,720

$2,068

$1,513

k

1k

2k

3k

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, 10 had sales in Q1 2019 (63% sold).

Continuum South and South Pointe Towers hold the highest sales at 6 sales each.

Continuum South holds the highest active listings at 52 listings.

Continuum South holds the lowest average Days on Market at 70 days.

20

5

31

52

6

4

4

33

12

37

14

7

18

13

37

26

4

1

4

6

1

1

2

6

5

1

0 10 20 30 40 50 60

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

321353

11770 81

396

138

251218

311

4

1

4

6

1 1

2

6

5

1

0

1

2

3

4

5

6

7

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


$1,948$1,596 $1,583

$2,036

$2,476$2,684

$1,124$1,171

$1,597

$2,101

7

15

6

3

0

2

4

6

8

10

12

14

16

k

1k

2k

3k



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

Two bedroom units hold

the highest number of sales

at 15 sales.


an average sales price of

$1,943,767 and a closed price

per SQFT of $1,171.

$985,173$1,507,770

$2,556,801

$5,582,658

$9,130,940

$11,237,500

$997,286$1,943,767

$4,710,667

$8,243,333

7

15

6

3

0

2

4

6

8

10

12

14

16

k

4M

8M

12M



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


11


233

168

226 227

7

15

6

3

0

2

4

6

8

10

12

14

16

0

50

100

150

200

250


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

133 listings.

One bedroom units

continue to hold the

highest Days on Market at

233 days.

Studio and five bedroom

units hold the lowest sales

at 0 sales each.


the lowest average Days on

Market at 168 days with a

total of 15 sales.

11

44

133

104

25

2

7

15

6

3

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 4/3/2019. Source for all re-sale values: flexmls.com.

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

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


Documents

First Quarter 2019 Miami Beach Luxury Condo Reportmedia.bhsusa.com/pdf/BHS_Miami_LUX_MR_1Q19.pdf · First Quarter 2019 . Miami Beach . Luxury Condo Report. This report hihlihts any