Renderings of Arte by Antonio Citterio and Alex Sapir
Alex Sapir’s ASRR Capital is in advanced talks to buy out its partner in a Surfside condominium project, according to documents filed on the Tel Aviv Stock Exchange.
Sapir will pay $6.1 million for Eyal Ben-Yosef’s 12.5 percent stake in the project, called Arte by Antonio Citterio, marking the latest move in an eventful year for ASRR. Read more
Nothing screams buyer’s market like excess inventory. And judging by a new report, sellers and developers in Bal Harbour, Surfside and Bay Harbor Islands could be dealing with just that.
That market currently has about two years of excess luxury condominium inventory, according to a new report from Condo Vultures Realty.
During the first half of this year, 39 units sold in the three cities, meaning an absorption rate of less than seven units per month, according to the report. But nearly 245 luxury units are listed for sale. The report defines luxury as units asking $1 million and up, and excludes the pipeline of preconstruction units.
Six months of supply generally makes for a balanced market. Anything over that suggests a buyer’s market, while years of excess supply suggest developers and sellers will be sitting on product for a long time. Read more
The Bal Harbour Shops are ready for a renovation. Scheduled to begin at the end of the year, one of Miami’s biggest malls is getting bigger. The mall is set to double in size, thanks to a $400 million investment project that was approved last week. Read more
Who is Zaha Hadid? The award-winning, Iraqi-British architect is, according to Forbes, one of the most powerful women in the world. Her approach to design is influenced by more than 30 years experience and careful study in architecture, design, and urbanism. Read more
Just when you thought Miami couldn’t push the boundaries of luxury any more, it did. The Mansions at Acqualina, a 47 story condominium located on the beach in Sunny Isles, released photos of its finished units via Curbed Miami. A movie theatre, wading pools, a cigar room and a video game room are only some of the amenities available to residents. Check out the link below to see all 53 shots of this grand addition to North Miami Beach. Sorry to say, all the units have been sold. No worries! Find something similar in The Miami Luxury Realtor’s listings here.
Locals already knew. Miami has ALWAYS been a good idea. If you needed further evidence to invest your time and money into this booming metropolis, check out World Property Journal’s article that states “Technology companies and other businesses are moving to Miami largely because of the region’s top-tier cultural offerings, outdoor lifestyle, and affordability compared to other major cities around the globe.”
Miami single family home sales register double digit growth in February 2015. Watch video here.
