Prominent Real Estate specialist, Alex Shay, discusses the ups and downs in the real estate market, and what it will take for the market to recover.
Alex Shay is a Miami Beach luxury real estate expert …

Lil Wayne, rapper, actor, CEO, and fashion designer, is trying to sell his South Beach condo for $2.8 million. The 4 bedroom, 3.5 bathrooms condo is on the 26th floor (unit 2601) of the Murano …

ROCKSTAR ENERGY DRINK has announced the purchase of VILLA FERARRI. The waterfront architectural masterpiece was formerly owned by music producer Scott Storch. To most it comes as no surprise that ROCKSTAR ENERGY DRINK is now …

Credit Suisse took ownership of the Gansevoort South Hotel in Miami Beach last Thursday, after a New York auction produced no bidders for the 334 room, trendy South Beach resort. The previous owners, father and …

  
Miami condo owners, who have listed their condos for sale, have all become acutely aware of the steep fall in value of their apartments. The over development of many huge buildings with hundreds of apartments, …

 
Dolphin Stadium, as Miami residents well know, will host the Superbowl for a record 10th time next month. The Superbowl is a real boon for the city, which has not only experienced the effects of …

  
Miami luxury homes have been selling at a snail’s pace in the past few years, with only 42 luxury homes with water frontage, sold in greater Miami Beach in 2009. Miami and Coral Gables have …

Miami Beach luxury real estate buyers are trickling back into the marketplace this month, as evidenced by more showings of luxury homes, more pending sales, and more closings. Last week, a beautifully updated Miami Beach …

The Loews Hotel in Miami Beach, located at 1601 Collins Avenue, is one of 18 hotels in the USA and Canada, operated by the New York based company, and is arguably one of the finest …

Indian Creek, an exclusive island just north of Miami Beach, has recently become home to Brazilian Victoria’s Secret model Adriana Lima and her husband, professional basketball player Marko Jaric, who just agreed to a contract …

The Venetian Islands, located in Miami Beach, stretch to Miami across a span of 7 bridges called the Venetian Causeway, the oldest of metropolitan Miami’s causeways, as well as one of the most charming areas …

Miami Beach has certainly seen it’s share of economic turmoil during the past few years, and on January 28, one of it’s stellar hotels, The Gansevoort South, located at 2377 Collins Ave, now in the …

Home sales are improving in Miami, and the numbers tell the story. Beachfront Realty, one of the largest privately owned real estate firms in the State of Florida, with 3 offices, and more than 1,500 …

Home sales increased remarkably in October, reaching the highest level in 2.5 years, albeit an inordinate number of those sales were to first time home buyers rushing to take advantage of the federal government’s soon to expire tax credit.

While selling his house isn’t a guarantee, Wade is high-tailing it out of town at the end of the season when he becomes an unrestricted free agent, it can’t be interpreted as a positive sign. Wade has already turned down Pat Riley’s best offer for a contract extension and moaned and groaned this offseason about the team adding pieces this year in order to keep him. Well that didn’t happen, unless you count signing journey man Carlos Arroyo, but we don’t think that’s what Wade had in mind.

Miami Beach luxury homes are slow to sell these days, but yesterday a waterfront estate located at 4949 Pinetree Drive sold for $8,000,000. By Alex Shay

Star Island-Miami’s Most Prized Real Estate
By: Alex Shay
Star Island in Miami Beach is home to the stars, and is one of the most exclusive communities in Florida. The island consists of only 32 properties, and is coveted for it’s location and privacy. Residents of Star Island include celebrities Sean Combs (P Diddy), Gloria Estafan, Rosie O’Donnell, and New York Yankees star Alex Rodriguez (A-Rod).

Miami real estate is undergoing some changes that are truly mind boggling. Some homes are selling for remarkably high prices, given today’s economic climate, while others are selling at prices well below market value; and some sellers still don’t get it.

By: Alex Shay

Miami Beach real estate sales have been sluggish for almost 3 years, and the trend continues today. Some sellers are still asking buyers to pay $1,000 or more per square foot of interior living space, in areas where waterfront homes are selling for more like $700 per square foot. The inflated prices have slowed the luxury Miami Beach real estate market to a standstill, with few closings taking place, and an over-abundance of luxury waterfront homes for sale.
By Alex Shay

Miami real estate has undergone its share of turmoil in the past few years, and many homeowners have suffered as a result. However, there are signs that a bottoming out is taking place right now, at least with respect to the sale of single-family homes in the Miami area. The latest statistics documented by Realist.com, showed a substantial increase in sales of single-family residences this July over July 2008.

A Sunset Islands Miami Beach house located at 1727 W 27th St. on Sunset Island 2, sold and closed this past Friday for a remarkable price of $6,000,000.

Miami real estate is beginning to get a lot of attention from foreign nationals seeking permanent residency in the United States, according to a report yesterday by Monica Hatcher, a writer for the Miami Herald. The report states that Miami immigration attorneys confirm that wealthy foreigners are flocking here to apply for investor visas, which often lead to permanent residency, and eventual citizenship.

According to a report by CNBC today, Sam Zell, chairman and founder of Equity Group Investments, who has made billions of dollars in the commercial real estate market, said that the bottom of the real estate market is imminent.

North Bay Road is one of the most desired areas in Miami, because it has some of the finest homes in Florida, situated on large lots facing the wide bay, where the most beautiful sunsets can be seen night after night. Many of the homes on North Bay Road are mediterranean in style, and some are modern homes, which have been built in the past several years.

The following is a reprint of an article published today quoting Alex Shay’s view of Star Island real estate.
By Sally Apgar July 10, 2009

Shaquille O’Neal’s house on Star Island, Miami Beach, one of the most exclusive locations in Florida, sold and closed on Tuesday for $16,000,000. The 2-story architectural masterpiece was previously owned by former Miami heat player Rony Seikaly, who sold it to Shaq. According to published reports, the property was purchased by super-model Naomi Campbell’s billionaire boyfriend, Vladislav Doronin.

Miami Beach real estate foreclosures are happening far too often these days, and Scott Storch’ s house on Palm Island, named Villa Ferrari, is next.

Continuum South Beach is one of the finest condo buildings on Miami Beach, standing 42 stories high, and located at the southernmost tip of South Beach. About 10 days ago, Alex Birkenstock, a German bachelor, and reportedly a member of the famed footwear Birkenstock family (although his New York realtor insisted that he is a “private hedge fund guy”, and not the Alex Birkenstock who recently departed from the operational business of Birkenstock), purchased a tri-level Miami Beach penthouse in the Continuum for $9.9 million. Birkenstock had no comment to make regarding his identity.
By Alex Shay

Miami Beach real estate has slowly and steadily lost a substantial amount of its value in the past few years. Most homes are selling at 2003 prices, with a few exceptions, and the bottom is yet to be seen. Foreclosures on Miami Beach were almost unheard of a few years ago, but not so anymore. On Wednesday June 3rd, 2009, another luxury home is scheduled for auction at the Courthouse in downtown Miami. By Alex Shay

A-Rod’s house in Coral Gables remains on the market for sale, after 8 months. New York Yankees star, Alex Rodriguez listed the home for sale in mid-December 2008 for $12,300,000, but quickly lowered the price to $11,000,000 after only 2 months. He purchased the property, located at 181 E Sunrise Ave, Coral Gables, FL., in 2004 for $12,000,000, and according to Dade County public records, there is a $5,500,000 mortgage attached to the home. By Alex Shay

Hibiscus Island, adjacent to Palm Island, is a guard-gated island community, with 24-hour Miami Beach police security, and some of the most luxurious homes in South Florida. 394 S. Hibiscus Drive is the address of one of those homes, a luxurious 5,500 square feet luxury waterfront home on a large lot, which, up until just 2 months ago, belonged to the now infamous Edward Okun, recently convicted of bilking investors out of $126 million in an elaborate ponzi scheme. By Alex Shay

Tax Credits for first time home buyers were recently announced by the Obama administration. Yesterday, Secretary of Housing and Urban Development, Shaun Donovan announced that the Federal Housing Administration (FHA) told lenders to inform first-time home buyers that the $8000 tax credit to first time buyers can now be used as a down payment. By Alex Shay

Miami Beach real estate has slowly and steadily lost a substantial amount of its value in the past few years. Most homes are selling at 2003 prices, with a few exceptions, and the bottom is …

Apogee Condo, South Beach, located at 800 South Point Drive, is one of the finest condominium buildings in Miami Beach. With only 67 private residences in the heart of South Beach, the Apogee boasts 10 …

The Miami real estate market began when Julia Tuttle, a local landowner, persuaded the founder of Standard Oil to expand his railroad to Miami and build his own resort. On July 28, 1896, Miami’s real …