Be prepared to be VERY impressed with the new look of the South Tower lobby of the Continuum Condos on Miami Beach. It’s going to be the ultimate in cotemporary luxury- on a par (or surpassing it’s newer peers in the South of Fifth area)!

The Continuum South Lobby

The Continuum South Tower New Lobby Nears Completion

Posted on | April 9, 2011 | No Comments

Continuum South Tower Lobby

The Continuum South Tower Gets a Facelift

Posted on | April 2, 2011 | No Comments

Continuum South Beach Lobby

This is a rendering of the NEW Continuum South Tower lobby sitting area.  Construction began in the Winter season, 2010 – 2011 and is scheduled to be complete by Summer, 2011.  The new updates to the Continuum South Tower include all-new common areas, including new equipment for the Sporting Club as well as a refresh to the Men’s and Women’s locker rooms and private spas.

Continuum North Tower Sales – Inventory of Affordable Two Bedroom Condos is Rapidly Depleting

Posted on | December 28, 2010 | No Comments

Today saw the closing of Continuum North Tower #804 for $1,145,000 final closed sale price. This works out to $767 per S.F. and represents and outstanding purchase price for the Buyer!  The next price point for a *reasonable view* two bedroom condominium offered for sale at the Continuum North and South Towers rises to well over $800/S.F.

Another notable sale in the past few weeks has also taken place in the North Tower of Continuum, this being condominium #803 for $1,200,000. Notable here is that THERE ARE ONLY 6 UNITS IN THIS LINE. This is the closest two bedroom condominium floorplan to the Ocean with views of the Atlantic Ocean, Continuum Lagoon Pools, Fisher Island, and South Pointe Park in the background.

I had the opportunity to work with several well qualified Buyers just before the close of 2010, and have noticed that the affordable (this being defined as the low One Million Dollar & under $800/S.F. ) inventory of reasonable view condominiums at Continuum is rapidly drying up.  If you’re a buyer looking to purchase in either the North or South Towers at the Continuum Condos in South Beach, NOW is the time to act!

Continuum South Beach Condo Short Sales – The Supply Dries Up

Posted on | November 5, 2010 | No Comments

Have South Beach’s waterfront condo prices bottomed?  At The Continuum on South Beach, the inventory of WATERFRONT condominiums that are PRICED RIGHT is rapidly dwindling.  Some of you reading this may be asking yourselves “Is the inventory of condominiums on MLS dramatically going down?”  Not yet, but what is running out are condos with direct water views that are significantly price reduced from the market high’s during the Miami Beach real estate boom years.

The spectacular oceanfront condos at Continuum North and South Towers have always commanded a pricing premium.  Especially when compared to other nearby buildings such as the Murano Grande, The Portofino Tower, and even Icon South Beach. The “short sale / REO / Distressed” inventory at Continuum, as of this writing in early November, 2010, is exactly zero condominiums.

Below is the last available “Short Sale” at Continuum South Tower, which was a fantastic acquisition for the Buyer:

The Continuum on South Beach #2007 (South Tower)
100 South Pointe Drive
Miami Beach, Florida 33139
Remarks:  This is a premier & oversized two bedroom condominium at The Continuum with direct Ocean and Intracoastal views.
Sold Price: $1,400,000
Listed Price : $1,995,000
Previous “Sold” Price : $1,000,000 (6/2005)
Bedrooms: 2 / Bathrooms: 3
Condo S.F.: 1,870 ($748/SF)
Closed Date: October 12, 2010
Total Days on Active Market (Multiple Listing): 341 Days
Discount from Asking Price in 2007: 43%

Miami Beach Waterfront Condominiums Continue to Command Pricing Premiums – Especially from New York City Buyers

Posted on | October 15, 2010 | 1 Comment

I’ve recently had the opportunity to discuss with several of my top buyers and clients from New York City, the relevance of  The Continuum Condos on Trulia’s recent Rent versus Buy Index.   Is this index relevant to a 12 acre luxury luxury building / condominium such as The Continuum North and South Towers ?  I was really curious as to where The Continuum’s recent closed sales would rank on this index.

Trulia.com recently released results from its Rent vs. Buy Index, which tracks whether buying a home or renting is less expensive in America’s 50 largest cities, based on current market conditions.  This index calculates the price-to-rent ratio using the average list price compared with the average rent of two-bedroom apartments, condos and townhomes in the different real estate markets around the country.

Example #1: The Continuum on South Beach- North Tower #905 (Regular Sale)
Closed Sales Date: 06/30/10
Sales Price: $1,200,000
Average Rental Price: $8,000/month (Based on YTD 2010 Rentals)
Price-to-Rent Ratio: $1,200,000 ÷ ($8,000 x 12) = 12.5

Example #2: Example #1: The Continuum on South Beach- South Tower #2805 (Regular Sale)
Closed Sales Date: 10/08/10
Sales Price: $3,150,000
Average Rental Price: $13,000/month (Based on YTD 2010 Rentals)
Price-to-Rent Ratio: $3,150,000 ÷ ($13,000 x 12) = 20.1

Example #3: The Continuum on South Beach- South Tower #2006 (Short Sale)
Closed Sales Date: 10/12/2010
Sales Price: $2,900,000
Average Rental Price: $15,000/month (Based on YTD 2010 Rentals)
Price-to-Rent Ratio: $2,900,000 ÷ ($15,000 x 12) = 16.1

Example #4:The Continuum on South Beach- North Tower #2503 (Regular Sale)
Closed Sales Date: 08/06/10
Sales Price: $1,880,000
Average Rental Price: $7,750/month (Based on YTD 2010 Rentals)
Price-to-Rent Ratio: $1,880,000 ÷ ($7,750 x 12) = 20.2

Example #5: The Continuum on South Beach- South Tower #2105 (Regular Sale)
Closed Sales Date: 08/18/10
Sales Price: $1,200,000
Average Rental Price: $6,000/month (Based on YTD 2010 Rentals)
Price-to-Rent Ratio: $1,200,000 ÷ ($6,000 x 12) = 16.6

The results for both the North and South Tower demonstrate a HIGHER index (as compared to condominiums in nearby, less expensive buildings) due to the fact that premier luxury condominiums at Continuum North and South Towers continue to command a high dollar value.  In general, Miami Beach condominiums have been competing with an oversupply of downtown Miami condos available for rent at bargain prices.  Also of note, the number of “short” sales and distressed condo unit owners in ultra-luxury waterfront condominium buildings in Miami Beach’s South of Fifth Neighborhood continues to be very small.  In conclusion, the ultra-luxury condo buyer looking for a premier floorplan / view is typically less price sensitive when it comes to potential rental cost vs. purchasing scenarios.

Trulia’s Rent vs. Buy Index – Interpretation Key
Price-to-Rent Ratio of 1-15: It is much less expensive to own than to rent a home in this city.
Price-to-Rent Ratio of 16-20: It is more expensive to own a home in this city. The total costs of ownership of a home in this city are greater than the costs of renting, but it might still make financial sense depending on the situation.
Price-to-Rent Ratio of 21+: The total costs of owning a home in this city are much greater than the costs of renting.

Top 10 Cities to Buy vs. Rent:
1.  Arlington, TX  -Price to Rental Ratio: 7
2.  Fresno, CA   – Price to Rental Ratio: 8
3.  Miami, FL    -  Price to Rental Ratio: 9
4.  Mesa,AZ     -   Price to Rental Ratio: 9
5.  Phoenix, AZ   -  Price to Rental Ratio:10
6.  Jacksonville, FL    -  Price to Rental Ratio:11
7.  Detroit, MI     -  Price to Rental Ratio:11
8.  Columbus, OH     -  Price to Rental Ratio:12
9.  El Paso, TX     -  Price to Rental Ratio:13
10.  Nashville, TN    -  Price to Rental Ratio:14

Methodology:
The price-to-rent ratio uses the average list price compared with the average rent on two-bedroom apartments, condos, townhomes and co-ops listed on Trulia.com. This Index considers both the total cost of home ownership against the total costs of renting (examples of costs for both home ownership and renting outlined above).

Data Sources:  Southeast Florida Multiple Listing Service

The unique appeal of Miami’s Continuum South Beach to New York City residents

Posted on | September 23, 2010 | 1 Comment

Many people talk about The Continuum South Beach- with the main focus being that this premier twelve acre oceanfront condominium property is located at the southernmost and eastern tip of the Miami Beach peninsula.  However, I would like to point out why this oceanfront resort is especially popular with New York City’s most elite and selective buyers who are looking to experience a piece of paradise in Miami Beach:

• The Continuum South Beach is a unique residential resort  with incredible panoramic views, incomparable luxuries and the all of the luxury services of valets, doormen, concierges, waiters and fitness trainers.  These are the types of amenities, security, and premier services that New York City’s most elite Manhattan-based residents are accustomed to.
• Location.  Location.  Location.  Being at the center of it all- what do we mean by this?  Located in the fashionable South of Fifth neighborhood in South Beach, The Continuum oceanfront resort is practically on Ocean Drive and within walking distance to such nightlife hotspots as The Nikki Beach complex, South Pointe Park, Smith & Wollensky Restaurant, Prime 112, and OVER 100 other restaurants, fitness centers, local bars / cafes, and other entertainment venues.
• Living in an international environment- among the most diverse that the City of Miami Beach has to offer.  Not only the above mentioned venues, but walk around the lively Continuum South Beach resort (two massive lagoon pools, separate lap pool, incredible fitness facility, SIX jacuzzi’s, and three clay tennis courts) and you’ll meet the elite residents of the world!  The Continuum on South Beach draws the economic & social elite- especially those seeking warm tropical weather to escape the harsh Winter months of Northern Europe and the U.S. East Coast.
• The Appeal of Unique Architecture-  South Beach’s South of Fifth neighborhood is at the southern tip of Miami Beach’s historic Art Deco District.  NOTHING can rival the incredible architectural diversity of New York City.  However, Miami Beach has a unique Art Deco heritage (combined with some recent modern architectural diversity) with a unique palette of tropical colors and tasteful neon lights.
• Miami Beach has traditionally been the destination (especially in the late 1940’s – 1960’s) where the elite of the entertainment industry came to play- Jackie Gleason, Frank Sinatra, Dean Martin, and many others vacationed in the winter months.  Today, Miami Beach counts as residents (and regular visitors & property owners) such contemporary entertainment industry notables as Gloria Estefan, Rosie O’Donnell, Shaquille O’Neal, Jennifer Lopez, LeBron James, Julio & Enrique Iglesias, and many others.