South Beach Condo Hotels

I'm warming up to the concept of Miami Beach Condo-Hotel developments. One difference between South Beach vacation rentals and, let's say, Sanibel Island vacation rentals is that South Beach does not have many full service vacation rental companies that rent out one and two bedroom condos. Therefore, if you are an owner-investor in Miami Beach, you need to advertise the condo rental yourself, or have a Realtor list it on the MLS and schedule showings as if it were for sale. If you try to rent month-to-month in season, this process can be time-consuming and unrewarding. Current tenants don't like prospective tenants viewing the condo while they are trying to enjoy their vacation. The solution: Condo-Hotel residences. As an owner, you can use your condo several times a year, and place it in the Hotel's rental program to offset the costs of ownership. The Hotel and the owner usually split the profits 50/50 (after fees are incurred; housekeeping, maintenance, etc.). The big advantage is that you can probably net more money by allowing the professionals handle the renting of the condo. You can sit back in your lazy boy and let them handle all of the details. At press time, there are sveral new Condo-Hotel developments becoming available in South Beach, including The Penguin, the Edgewater, The Tides Hotel and of course, the W South Beach. I'll be researching all of their rental policies and amenities. I'll keep you up-to-date on the number crunching. Search all of Miami Beach preconstruction on my website at www.bestmiamibeachrealestate.com. That's all for now, back to relaxing in my Lazy Boy.

An end to the world's largest dorm?

Known as home to wealthy transients, the Flamingo South Beach has had it's appeal, from the liberal clothing policy at the pool to the panoramic views of Biscayne Bay, and the panoramic views at the pool. But, all good things must come to an end, even in Miami Beach Real Estate.
The conversion of The Flamingo South Beach apartments to condo units will be the biggest condo conversion ever in Florida. MCZ/Centrum, condo converters from Chicago paid more than $600 million for the 1,688-unit apartment complex on Biscayne Bay earlier today. Divide the 600 million by 1688 and we find MCZ is paying an average of $355,450 per unit. Is this a buy? All I can safely assume is that MCZ will spend a good deal of money on marketing the new condos and little money in upgrading the newer, adquate units and common areas. It will be interesting to watch this develop. I'll keep you posted. What's a good name for the new development? How about "Panorama"?

Buzz on Miami Beach commercial real estate

I was out last night when I walked by one of my favorite shops fronting Lincoln Road. It is going out of business. After speaking with the saleswoman, it was revealed to me that an anonymous business owner had made the shop an offer they couldn't refuse. They bought out the remainder of the store's lease (18 months). I guess "they" whoever they are, really see the value in a Lincoln Road shop location.

The W South Beach

Well, it's time for a report from the trenches of Miami Beach Real Estate. On my website, www.bestmiamibeachrealestate.com, I am getting a high volume of searches for the W South Beach. A confidential source tells me several NBA stars have purchased residences at the W. The fact that high-profile celebrities are still buying at a quick pace makes me think South Beach could be relatively bubble-proof. I attended the Miami Beach Realtor's open house tour this Tuesday. There were at least ten condos at the ICON South Beach on the tour. There are two units in the "01" line, and let me tell you, if you are in the market for a 180 degree view, the Icon 01 line is ideal. The view from these units stretches from Star Island all the way around to the Atlantic Ocean (it may be more than 180 degrees). That's all for now, until next time from South Beach.