Miami Beach Condos Foreign Buyer Report on Local 10 News

A notable thanks to Rob Schmitt and Channel 10 news for interviewing me for this special Miami Beach Real Estate Report. This news clip explains how the current weak U.S Dollar might save the local Real Estate Market. The most important fact to note here is how reporter Schmitt and others make the distinction between the Miami and Miami Beach Real Estate Markets, a detail that many media fail to capture.

Boardcasted on March 17, 2008 Courtesy of Local 10 News at 6.  For more real estate information, contact Juan Leal at (305) 975-7472.  If you enjoyed this post, please subscribe to my RSS feed!

Flamingo South Beach 2 Bedroom Direct Bay $340,000 – Miami Beach Pre-Foreclosure

Just one hour a ago, a 2 Bedroom Two Bath Pre-Foreclosure Short Sale was reduced by 50%. This is now the deal to beat and the lowest 2-Bedroom ever listed at the Flamingo South Beach condominiums. This unit is located just two blocks from Lincoln Road on 1500 Bay Road in the Flamingo Condos South Tower. According to the listing agent 10% escrow deposit required.

The Flamingo South Beach Two Bedroom over looks the Biscayne Bay and Pool from the Fourth Floor. This astounding Direct bay view can easily be enjoyed over a few mojitios from the attached Balcony. VIEW LISTING DETAILS

My prediction is that this unit will sell by the end of this week at or above $350,000. For sales information, contact Juan Leal at (305) 975-7472.  If you enjoyed this post, please subscribe to my RSS feed!

Flamingo South Beach 2 Bedroom Pre-Foreclosure Short Sale $385,000 – Miami Beach Amazing Deal

 

Over this weekend a 2 Bedroom Two Bath Pre-Foreclosure Short Sale was listed at $385,000 at the Flamingo South Beach condominiums. This unit is located just two blocks from Lincoln Road on 1500 Bay Road in the Flamingo Condos South Tower. According the the listing agent this unit has already received multiple offers however none have been accepted. I have 3 buyers possible buyers eyeing this one so if you are serious about having a slice of paradise, the time to call is now.

The Flamingo South Beach Two Bedroom over looks the Bay and Courtyard from the sixth Floor with an amazing bay view you will be able to enjoy from the attached Balcony. VIEW LISTING DETAILS

My prediction is that this unit will sell by the end of this week at or above $415,000. For sales information, contact Juan Leal at (305) 975-7472.

Flamingo South Beach North Tower Alternatives

I had many concerned buyers contact me strongly dissatisfied with the limited selection of the remaining developer units and options that they have been recommended.

For those of you who missed the boat check the original post here, the Flamingo South Beach Condos North Tower is NOT going condo. So what are the current alternatives for these North Tower Contract Holders?

Option A
Buy the less than 40 units remaining from the developer. Many of these are 2^nd tier units which where originally over looked by buyers and are still over priced since they started selling in May 2005. The only way these units might sell is with a “strong” incentive and / or extremly creative deal or future price reduction.

The good news is Flamingo South Beach developers are offering some incentives. In some cases as high as 6% back or some other fees waived. I still think that at a 10-20% price premium it proves to be a tough sale. Many have minimal views and / or no balconies. Another thing to look out for is with a larger size unit comes increasingly higher maintenance fees. All of which will reduce your bottom line when is time to secure a new tenant.

They have a great hard working staff who is dedicated to help you find the right unit for you. So I wouldn’t suggest discounting it right away but unfortunately many will have no choice but to seek other resources if they are not satisfied with the limited inventory they have access to.

Option B
Call your local hot shot independent real estate agent who is familiar with Flamingo South Beach Condos. He or She will search for you the best deals available and often already know all the Foreclosures and other non public listings to find the Perfect Apartment Home or Investment for you. With a little patience you will find the equivalent unit you “purchased” at the North Tower for a discount in the South Tower. You may also wish do a little bit or research first. You may View Listings now or Search MLS for other options that might interest you, and when you call you will be more informed.

At the current Flamingo South Beach developer’s prices, I predict it will take until the end of the summer for them to sell the majority of the south tower, but not before they adjust their prices. The smart buyers now are looking for more choices, flexibility and deals from distressed owners and motivated sellers. Sellers usually are more adapt to negotiate and will work with you instead of a big box developer and their one sided contracts with no financing contingency. For south tower sales information, contact Juan Leal at (305) 975-7472.  If you enjoyed this post, please subscribe to my RSS feed!

Flamingo South Beach Condos Hot List Report

Just a quick Miami Beach Real Estate Market update on the Flamingo South Beach rental and sales deals for this week.

RENTALS
Short Term / Fully Furnished Vacation Rentals
$199 Per Night Bay View Studio Wood Floors
$219 Per Night Direct Bay View Studio / Balcony
$1500 Per Week Large Bayview 2 Bedrooms
$1750 Short Term Super Large Furnished Studio South Tower Wood floors
$2099 Direct Bay Pool View / Balcony Upgraded Studio
$2500 One Bedroom Ocean View Balcony
$2650 One Bedroom Direct Bay View Upgraded

Residential Leases
$1250 Lowest Priced Studio South Tower, Gym Ocean View High Floor
$1319 One Bedroom Low Deposits, North Tower!
$1500 One Bedroom South Tower Ocean View / Balcony Gym FREE
$1700 One Bedroom North Tower Courtyard / Bay / Balcony
$1729 One Bedroom Center Tower
$1929 One Bedroom Center Tower Bay View
$2079 Supersized One Bedroom Center Tower OceanView / Balcony
$1800 One Bedroom South Tower Bay View / Balcony DavidBartonGym FREE

Roommates and Big Ballers
$2119 1 Bedroom, 1.5 Bath the only TOWNHOUSE - Great Deal
$1739 2 Bedroom North Tower - Great Deal
$2150 2 Bedroom South Tower with Gym
$2099 2 Bedroom Center Tower Alton D Floor plan
$2489 2 Bedroom Center Tower Alton D Floor plan Ocean View

PLEASE NOTE: All quoted rental prices unless otherwise indicated are monthly asking price for unfurnished units with long-term lease and it does not include parking access which is is available for additional fee. All South tower units include David Barton Gym Membership and paid A/C. The information is deemed (as of press time) to be accurate however it’s not warranted and/or may be subject to change anytime without notice.

SALES
Buy Me - North Tower is No Longer Selling
$219 Ocean Facing Studio Ready to Move In today!
$217 Courtyard Facing One Bedroom - FORECLOSURE
$255 One Bedroom Ocean view / Balcony - SHORT SALE
$289 One Bedroom Ocean View / Balcony A Steal
$400 One Bedroom Bay View / Balcony Upgraded Unit
$420 Two Bedroom SHORT SALE- Direct Bay View - WILL NOT LAST

For south tower sales information, contact Juan Leal at (305) 975-7472.  If you enjoyed this post, please subscribe to my RSS feed!

How to get your Flamingo South Beach North Tower Deposit Back Faster

“Do you have some money to lend me?” “…Let me see.. Tell you what ….let me ask my lawyer… if he says YES then I’ll get a new one.”  We all know the truth. No body wants to give or lend money very easily and with good reason. Often times its for personal reasons, or perhaps business with no real inventive or time-line. Well the Flamingo South Beach North Tower Agents are fairly quick but just in case they might get busy you may wish to get your Flamingo South Beach North Tower Deposits faster by requesting it direct from the source.

 

 

So today I spoke with Cassandra the Flamingo Condos Contract Manager for the North Tower developer MCZ/CENTRUM. She told me that all you have to do is email her to confirm that you want to cancel the North Tower contact. Email her directly at cpalanza@mczcentrum.com in reference to the unit number.

She also told me that they will mail you a document that you need to sign and send back to them. So please confirm your mailing address with her. This whole process should take less than 2 weeks to get your Escrow Check.  If you have any questions she can be reached at 305-604-9445. For south tower sales information, contact Juan Leal at (305) 975-7472.  If you enjoyed this post, please subscribe to my RSS feed!

Flamingo South Beach 1 Bedroom Foreclosure $217,000 – Miami Beach Amazing Deal

Today a One Bedroom One Bath Foreclosure was listed at $217,000 at the Flamingo South Beach condominiums. This unit is located just two blocks from Lincoln Road on 1500 Bay Road in the Flamingo Condos South Tower. For technical reasons this listing was under a pending status at a different price previously. However, the proper status has now been updated in the Miami Beach MLS systems.

The Flamingo South Beach One Bedroom over looks the Courtyard from the Second Floor with a no bay view you will be able to enjoy the beautiful Flamingo South Beach courtyard from the attached Balcony. At such a low sale price this unit is a perfect candidate for a South Beach Vacation Rental Program. VIEW LISTING DETAILS

The only comparable was another Second Floor unit facing the parking lot which sold in April 2007. According to the Miami Beach MLS records it sold for $335,900 directly from the developer. My guess is that after all the smoke and mirrors are pulled away from this transaction, the true sales price would lie somewhere around $300,000.

My prediction is that this unit will sell by the end of this week at or below its listing price. For sales information, contact Juan Leal at (305) 975-7472.

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Flamingo Listing Agents: Top 10 Tips and Open House

Dear Flamingo South Beach Listing Agents,

This is Juan Leal, Mr. Flamingo South Beach, we need to sell out the Flamingo Condos and need your help. If you have a Flamingo Miami Beach Condo listing that is NOT over priced we want you to join us for our Flamingo South Beach PROGRESSIVE OPEN HOUSE on Saturday, April 5^th, (open to any suggestions on the dates based on feedback). Please contact all your South Beach Sellers and see if you can get the maximum price reduction possible to create some sales. This is a win-win if we have some 20 or so serious buyers walking around the Flamingo condos to take these units off the Miami Beach market. There are some great units and prices in the Flamingo South Beach building. I’m sure we will have something sold soon with the recent Flamingo North Tower Cancellation. I personally have 3 potential buyers (not those crazy investors that want to buy at 50 cents) for 1 Bedrooms waiting, one with money already in Escrow. I’m getting leads everyday but don’t have the right priced inventory. Let’s compete together instead of against each other. 

Listing Tips  (I’m probably not the fastest or smartest or the “mostest” here…. But i can share some generic tips that have helped me out over the years, take what you will.)

1. Please Answer your phone or return calls the same day if it all possible, even if you have to text while your showing.
2. Work out Showing instructions IN ADVANCE with current tenants, find out their schedules. If a buyers agent calls you it shouldn’t take you 6 hours to find out.
3. Have a key with you at all times, even if its in lockbox or owner lives there, your never know when someone might “lose” your key.
4. While this is difficult and unlikey all the time, try to personally show and help your follow buyers agent, they might not know as much about the building or perhaps you can find out their buyers level of motivation.
5. Get a price reduction today! Fact is most owners will lose money in this market. If they don’t want to reduce, then drop the listing and call them in a few months when they will be more motivated.
6. If your listings is about to expire, relist it with a new MLS number/ agreement, change the pictures, descriptions or adjust the price and finally add an extra bonus point to the buyer’s agent, if at all possible. This is sure to give it some renewed energy.  If you know some other top agents consider working the listing together as they might know another realtor or buyer who will cause it to sell.
7. Pictures sell, words tell. Get a nice camera and take pictures of the inside of the unit (yes stop stealing generic photos of the property grounds!). If your unit has a view and you haven’t photographed after 3 weeks perhaps you are not serious about selling. Out of state buyers check on realtor.com and other sites and they will skip over your listing.
8. Get a nice website to showcase your listing for your own buyers or to syndicate it online. A very inexpensive solution I use is www.point2agent.com
9. Reply to this email and lets’ pull our resources to advertise for this upcoming Progressive Open house.
10. If you are a Flamingo Condos owner reading this and thinking of selling  please Check out this Free online book first as it will help you in the process.

I would be happy to help anyone if you have any further questions or ideas for this open house.  Read this post: How Progressive Oppen Houses Work and call me or email if you have any further questions. For sales information, contact Juan Leal at (305) 975-7472.

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Flamingo South Beach 1 Bedroom Direct Bay $379,000 Short Sale

 

I just had a huge price reduction on a Flamingo South Beach Penthouse 1 Bedroom Condo Apartment and there’s still room to negotiate. This is the lowest Flamingo Miami Real Estate priced Direct Bay View 1 Bedroom, The Balcony Faces West towards the Bay and the city the Miami Downtown Skyline. This is the Best Angle/Side of all the One Bedrooms (all wide bay view from the hall way). Estimated Monthly Taxes are $540 plus Condo Maintenance Fees of $450. Today’s Estimated Rental Income is $2,000 Monthly on a 1 Year Lease or $2,500-3,000 Monthly on Short Term Furnished Rentals.  With a little work you can even raise the ceiling 2-3 feet since it’s a penthouse unit. Unit needs work and is sold as-is, seasonal rental income can not be guaranteed and is based on many factors. All quoted rentals rates are maximum potential on a subject or comparable unit, your specific circumstances, furniture, furnishings and current market conditions will determine the ultimate price. As the Flamingo South Beach expert, I can help you find exactly what you’re looking for. For sales information, contact Juan Leal at (305) 975-7472.

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Top Flamingo South Beach Pre-foreclosure deals in paradise

“May I have your attention please”… no this is not another fire alarm… or two lose models on the 12th floor… I’m writing to let you know we have two really great Miami Beach Real Estate Pre- Foreclousre opportunities for you. Often I hear investors tell me “just call me when you have a deal” well recently listed we have 2 beautiful Pre- Foreclosure properties available for sale in the Flamingo South Tower. So Consider this your official Notice. My long-term out look for the Flamingo South Beach condo is bright.

1 BEDROOM / 1 BATH - CLICK FOR LISTING DETAILS

The first Pre- Foreclosure is a One Bedroom on the 8th floor with a Balcony. This condos view looks over South Beach and the Ocean from a distance, I previewed this unit last week and noticed all the appliances and carpets have been replaced with brand new ones. It appears that no one has even lived in this miami beach condo since the developer sold it. At its currently listed price of $254,000 it represents a 30% drop from its purchase price just a year ago. Even with the soft real estate market at this price you will be protected with instant equity and should easily positive cash floor once rented. The 38 available One Bedroom condos average approximately $500 per square foot, with this particular unit being the lowest at $341 per foot. It doesn’t take a doctor of to figure this one out.

2 BEDROOM / 2 BATH  - CLICK FOR LISTING DETAILS

The 2nd Flamingo South Beach short sale is a Two Bedroom condo on the 7th floor with a fantastic terrace. It’s a direct bay view unit that has unbelievable views of Biscayne Bay, Star Island and the entire Miami skyline. This one by far has one of the best views in the condo complex and is currently listed at $420,000. This is the lowest priced 2 bedroom in Flamingo, in fact comparable 1 Bedrooms are approaching the $400,000. A truly amazing feat 2 rooms for the price of one. The 24 listed 2 Bedroom Apartments average approximately $514 per square foot with this particular unit being the lowest at $395 per foot. I give this one a strong buy recommendation.

If you’re looking for tremendous investment potential, you can’t go wrong with a Flamingo South Beach or Miami Beach condo. Besides its amazing year round weather, abundant recreational activities and nightlife, Miami Beach is sure to retain its attraction as a playground for the wealthy. Diversify your financial portfolio with a Flamingo South Beach or Miami Beach condo. As the Flamingo South Beach expert, I can help you find exactly what you’re looking for. For sales information, contact Juan Leal at (305) 975-7472.

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AGENTS’ CHOICE AWARDS 2007 - Favorite Place to Live and More

The people have spoken, and this is what they have to say: the following companies are the best of the best in the Miami real estate industry.

Miami Agent’s first annual Agents’ Choice Awards survey winners were selected by readers, who voted for their favorites via the Web site, MiamiAgentMagazine.com.

The online survey featured categories ranging from “Favorite Web Site” to “Favorite New Landmark” and “Favorite Sales Center.” Inside this month’s cover story, you will find the people and places throughout Miami that Miami Agent Magazine’s Realtor readers feel demonstrate quality, originality and professionalism. You will see photos of the people responsible for carrying out these admirable visions, their thoughts on why their projects are Miami favorites and, in some cases, breathtaking views of the projects themselves.

Below are just 2 of your favorites, Miami, so take a look at the companies and projects that the industry is raving about.

Favorite Place to Live
Flamingo South Beach
Flamingo South Beach provides an environment where the pleasures of resort living frame daily life.“The Flamingo is a place where you’ll admire the dolphins swimming in the bay as you walk to your car in the morning. Where you won’t have to drive to pick up groceries because there will soon be a high-end gourmet market on the property,” says developer Michael Lerner of Chicago-based MCZ/Centrum. “For our residents, a resort lifestyle is a priceless luxury.”

Flamingo South Beach consists of 1,688 units in three towers, situated on a 16.5-acre property with expansive views of Biscayne Bay, Star Island and downtown Miami. The 614 homes in the recently-launched north tower include studios, one- and two-bedroom residences ranging in size from 500 square feet to 1,400 square feet. Prices range from the $300,000s to the $600,000s.

Units feature glass balconies, impact-resistant sliding glass doors, high-speed Internet access, satellite television, walk-in closets and full-sized washer and dryers.

Favorite Sales Marketing Company
Douglas Elliman Florida
The mission of Douglas Elliman Florida is to deliver the best possible service to its customers. To accomplish this, the company works tirelessly to provide unwavering support to its agents. Douglas Elliman Florida continuously strives to achieve the most exacting standard of excellence on which the firm was founded nearly a century ago.

Douglas Elliman Florida provides an intimate working environment, giving the partners the opportunity to collaborate and share information. Training, agent development and ongoing industry-specific education are also paramount. By offering a platform from which agents have the opportunity to network with a base of more than 3,500 high-caliber industry professionals in the Northeast, Douglas Elliman Florida is better able to service the needs of customers.

The management team at Douglas Elliman Florida is a diverse and harmonious hybrid of forward-thinking real estate professionals. The company’s business philosophies are fundamental; however, by necessity of evolving customer needs, Douglas Elliman Florida is not bound by convention.

Hot Listings Report

Just a quick market update on rental and sales deals for this week. 

RENTALS
Short Term / Fully Furnished Vacation Rentals
$199 Per Night Bay View Studio Wood Floors / 389 WMC Weekend
$219 Per Night Direct Bay View Studio / Balcony
$1500 Per Week Large Bayview 2 Bedrooms
$1600 One Bedroom WOOD FLOOR South Tower Bay View 6 Month Min!
$1890 Short Term Super Large Furnished Studio South Tower Wood floors
$2199 Direct Bay Pool View / Balcony Upgraded Studio
$2499 One Bedroom Ocean View Balcony
$2789 One Bedroom Direct Bay View Upgraded

Residential Leases
$1129 Lowest Price Studio North Tower
$1250 Lowest Priced Studio South Tower, Gym Ocean View High Floor
$1389 One Bedroom Low Deposits!
$1500 One Bedroom South Tower Ocean View / Balcony Gym FREE
$1600 One Bedroom Wood Floors Bay View 6 Month Min Only - GYM!***
$1619 One Bedroom North Tower Courtyard / Bay / Balcony
$1650 One Bedroom South Tower Ocean View WOOD FLOORS Super Large 950SQFT Gym FREE***
$1897 One Bedroom South Tower Bay View / Balcony DavidBartonGym FREE

Roommates and Big Ballers
$2150 2 Bedroom South Tower with Gym
$2419 2 Bedroom Center Tower Alton D Floor plan
$2799 2 Bedroom Center Tower Amazing View Upgraded Unit Stainless / Wood

PLEASE NOTE: All quoted rental prices unless otherwise indicated are monthly asking price for unfurnished units with long-term lease and it does not include parking access which is is available for additional fee. All South tower units include David Barton Gym Membership and paid A/C. The information is deemed (as of press time) to be accurate however it’s not warranted and/or may be subject to change anytime without notice.

SALES
Buy Me - North Tower is No Longer Selling
$219 Ocean Facing Studio Ready to Move In today!
$254 One Bedroom Ocean view / Balcony - SHORT SALE
$289 One Bedroom Ocean View / Balcony A Steal
$400 One Bedroom Bay View / Balcony Upgraded Unit
$420Two Bedroom SHORT SALE- Direct Bay View - WILL NOT LAST

For sales or leasing information, contact Juan Leal at (305) 975-7472.

Juan Leal is now affiliated with Douglas Elliman South Beach

I am delighted to officially announce that I have decided to join the Douglas Elliman Florida team in Miami Beach. The office is located just 4 blocks from my home, right off Lincoln Road which has amazing shops, restaurants and is the place to see and be seen in South Beach. The name recognition, systems and office support are one of the best I have seen. While it was an extremely difficult decision to leave my previous broker, I felt it was the right descion for me and the logical choice since they have an office in the area where I conduct most of my business.

Since it’s founding in 1911, the name Douglas Elliman has been synonymous with the most exacting standards of excellence in the real estate industry.

With unparalleled reach within Dade, Broward and Palm Beach Counties, as well as an association with 3000 New York-based agents, Douglas Elliman Florida’s primary focus is to exceed your expectations of service, performance and results.

Services for which Douglas Elliman Florida is noted include full service real estate brokerage, exclusive residential sales and leasing and new development marketing and sales.

Flamingo converter returning some deposits

South Florida Business Journal - by Oscar Pedro Musibay

MCZ/Centrum, converter of the Flamingo apartments, is giving back deposits to buyers in the north tower of the Miami Beach complex because the developer hasn’t been able to nail down unit closing dates.

“If the people don’t want to wait, because we can’t give them a closing date, we will give them the deposits back,” MCZ Chief Executive Officer Michael Lerner said Monday.

He said sales in the north tower stalled at 200, and blames the market downturn — not the product or location.

“We don’t know when the building will be converted to condo,” Lerner said of the 614-unit north tower. “We have to hit a critical number before we start converting.”

Lerner said the north tower will continue as a rental until sales hit the critical threshold — a number he would not disclose. The elliptical building in the center, which is the newest and the crown jewel of the complex, also remains a rental.

He said Fortune International, which is handling sales, has shifted its attention to the south tower, which has 562 units and is nearly sold out.

In 2005, MCZ/Centrum signed a deal with owner AIMCO, a Denver-based real estate investment trust, to pay $625 million for the 1,600-unit Flamingo on Biscayne Bay. The deal was structured in three phases — one for each of the towers — so MCZ/Centrum, a joint venture of two Chicago developers, could break up the financing.

AIMCO sold the south tower for $163.5 million. It also provided MCZ/Centrum with $5 million options on the two remaining towers. Lerner said he would renew the options when they come due.

The developer agreed to pay $169 million for the north tower and $267.5 million for the 513-unit, center building. AIMCO still owns the center and north towers, Lerner said.

A call to AIMCO was not immediately returned.

As part of the 2005 deal, AIMCO claimed the first $19.8 million in profits from unit sales, whether or not the other sales went through.

William Bloom, the Holland & Knight partner who represented MCZ/Centrum, did not immediately return a call seeking comment.

Adam Greenberg, managing director of BayBridge Real Estate Group, owns a studio in the south tower and has a contract on a 1,080-square-foot unit in the north tower. He’s had $29,000, his 10 percent deposit, tied up in the project for nearly a year. He thought he would have closed on the one-bedroom unit by fall 2007.

Greenberg said he’s ecstatic to be able to get his money out because he can use it for other investments or to pay down debt.

“The thing is the south tower did so well and the north tower had a short time period to get off the ground,” he said. “The market is just not the way it was.”  

http://www.bizjournals.com/southflorida/stories/2008/02/18/daily7.html?ana=from_rss

Flamingo South Beach Group on Facebook!

This is just a response to Drew’s letter that was recently sent to all the Members of Flamingo South Beach [ON FACEBOOK GROUP]…. I want to say thanks to you and all the residents on here for making this group what it is today… and for all those who continue to promote the group to their neighbors… Today I just checked and we have just signed up our150th member.. so lets keep this going and I’ll see you guys all by the pool!!

-Juan Leal

———————————————————-
Dear Members of Flamingo South Beach,

The Flamingo group was originally created as a gathering place for you to meet your neighbors, socialize, network, entertain and ultimately have fun. With this in mind, I’m proud to introduce to you to 2 NEW OFFICERS who will help elevate your experience. These officers have already proven their leadership within the community and are dedicated to help keep you on top of the latest happenings, events and opportunities.

Loni Paige, Flamingo Recreation Director:
Loni Paige is a seasoned special-event planner brought in from New York to help spearhead the transformation of the New Flamingo south beach. With her experience she brings the energy and hip-ness that South Beach revolves around. You will be the first to be informed of the latest events.

Juan Leal, “Mr. Flamingo” Real Estate Agent with [DOUGLAS ELLIMAN]:
The top selling “Mr. Flamingo” well simply help you save money…Now… by making sure you always find and get the best deals, whether you’re renting, buying or selling. His innovative blogs, negotiation skills and in-depth market knowledge are valuable resources to those looking to make a move. Contact him to get the inside track on exclusive deals from all ANY source.

We are happy to have them here and are very excited for the changes just around the corner. If you have any other questions, please do not hesitate to contact me.

Sincerely,

Drew M. Levin

———————————————————-

Add Flamingo Group today and stay connected! For sales information, contact Juan Leal at (305) 975-7472.

Flamingo has partnered with Affinity Property Services for rentals

Great news Flamingo South Beach has partnered with Affinity Property Services to offer luxury condominium rentals and property management services. Affinity Property Services is a professional company that works with Realtors and owners alike to get apartments rented. They have replaced the Miami Condo Investments which were getting a huge amount of flack for their allegedly disservice to their clients (I say allegedly because I have limited experience dealing with them). Many industry insiders and Realtors report misleading tactics and practices which have left owners and agents very disappointed. I am happy to report I have not had any problems with Affinity Property Services and their friendly helpful staff is always available during business hours to answer any inquires. As an independent agent if you are thinking of leasing a new apartment in the Flamingo South Tower please contact me first as I’m not limited to any particular leasing offices propriety listings or just MLS access…I go where the deal is and often negotiate on your behalf the best price possible.  For sales or leasing information, contact Juan Leal at (305) 975-7472.

TOP 12 REASONS TO INVEST IN THE FLAMINGO SOUTH BEACH

Why Miami South Beach?

1) Attractive tourist and resident destination plus close to Brickell & Aventura
2) Growing demand for rental product and diminishing supply
 From 2000 -2005 over 40% of rental apartment were taken out of the supply and converted to condominium, this trend continues
 Tourist and Miami - Dade workers alike demand Miami South Beach rental apartment for their location and quality of life
3) No more land available for new building in South Beach
4) South Beach is an Island that can not expand (Manhattan effect)

Why condo conversion as opposed to new construction?

5) No risk of the building not being built
6) No speculators who bring prices down before developer’s closing
7) Lock in a good interest rate before the rates increase
8) Take advantage of a current active favorable rental market
9) You can enjoy the property before the resale
10) You have the choice to sell property sooner when the market is right

Why the Flamingo South Beach?

11) Resale Value
 Unique and very desirable waterfront parcel
 Limited inventory for property at the entry price of luxury market
 Flamingo, as offered today, is the most affordable 10% of all listed waterfront property in South Beach
 Average asking prices in South Beach waterfront Condominiums

         South Beach Flamingo
 One Bedrooms $576       $515

Two Bedrooms $715        $547    

 Three Bedrooms $1,068     $520

Refuge property vs. high end product currently in crisis (People always need a place to live and the most affordable properties always resell very well)
$30M renovation will bring an additional $100 per SF value regardless of market conditions.
12) Rental-ability values:
 Location 2 blocks from Lincoln Road on the bay - No car necessary
 Amenities: Parking, resort size swimming and lap pools, marina, 14,000 square foot David Barton gym, etc
 Highest market rental at approximately $3 per square foot, this allows investors to break even or get very close to it where in a comparable building will be impossible
 Ability to rent condos for short term in order to maximize income potential. For sales information, contact Juan Leal at (305) 975-7472.

Flamingo South Beach - South Tower Parking Rate Increase

Wow what a shocker!!  We all can agree condo living has is advantages and dis-advantages, and living at the Flamingo South Beach is no expectation. The parking for the south tower since it went condo was only $60, certainly made a lot more sense to live in the upgraded flamingo south tower, but on June 1 Some big wig decided to raise the parking 150%. This is incredible now they didn’t have a vote or early warning so we can adjust accordlying, so it’s been almost to 2 months and I guess people are learning to coup, living in the beach certainly has its price. I know even south gate towers charges upwards of $130 for a uncovered parking and most other buldings only include valets spots and no assigned. The good news is that Flamingo South Beach have a high walk score, basically that is, the walkability of a certain neighborhood or apartment, my friend’s apartment in SoHo scores a 100% wow! Anyway check this neat little tool here at Walkscore.com, this site allows you to find out how easy an address is to walk to and from…and being in south beach the model capital of America getting a little exercise certainly doesn’t hurt anyone. So if you are relocating here and thinking of ditching the car this is a great help.  For sales information, contact Juan Leal at (305) 975-7472.

Flamingo South Beach Announces Grand Opening of New David Barton Gym

 Flamingo South Beach, Miami’s most well known address, recently welcomed David Barton, entrepreneur and fitness icon for David Barton Gym, to the Flamingo’s vibrant and growing community. David Barton Gym has made an impressive Miami Beach expansion with the opening of Flamingo’s state-of-the-art, 15,000-square-foot fitness center.

 PR9.NET May 02, 2007 - MIAMI BEACH, FL - Flamingo South Beach, Miami’s most well known address, recently welcomed David Barton, entrepreneur and fitness icon for David Barton Gym, to the Flamingo’s vibrant and growing community. David Barton Gym has made an impressive Miami Beach expansion with the opening of Flamingo’s state-of-the-art, 15,000-square-foot fitness center.

The Flamingo South Beach’s sprawling 16.5 acre waterfront property provides the perfect iconic address for the newest David Barton Gym facility.

“Twelve years ago, I bet on South Beach with 6,000 square feet at the Delano hotel and now it’s exploding,” says David Barton. “Now I want to own the market with two gyms, in the town where the line between working out and going out is blurred.”

Open to the public in addition to Flamingo residents, this high tech, triple-height, facility offers the best view of the bay in all of Miami Beach from floor-to-ceiling glass walls and wraparound outdoor balconies. The gym features two expansive studios for yoga, spinning, Pilates and training sessions, with an outdoor pool and basketball court to round out the array of fitness amenities. This gallery-like space will become an installation and its sky-high walls will create a backdrop for the true art on display - the sculpted forms of individual bodies. The Flamingo experience will have a sensuous, sophisticated feel perfectly in keeping with its surroundings.

“David Barton is the perfect partner for our world-class development which offers a cosmopolitan lifestyle everyday,” said Flamingo’s developer Michael Lerner of MCZ/Centrum. “We are excited about this added element to our flourishing community and believe it will greatly contribute to the Flamingo life.”

A true alternative to the generic, mass-market gym, all David Barton Gym locations, including two in New York City and a 30,000-square-foot facility on Chicago’s Riverwalk, encompass the design and aesthetics reflective of each neighborhood’s personality with the focus always on the creation of a truly unique experience. The new Miami location marks the further expansion of the David Barton Gym brand with several more to come in key cities.

Situated on 1,300 linear feet of prime bayfront property, Flamingo South Beach features expansive views of Biscayne Bay and downtown Miami. Residents enjoy two bayside resort-style pools with a tiki hut and food and beverage service as well as an outdoor spa. Residents can also take advantage of Flamingo’s resort-style services including dog walking, housekeeping and car wash.

Flamingo South Beach recently announced the sales launch of the second phase of the condo conversion - the North Tower - with studios, one- and two-bedroom homes priced from the $300s to the $600s. For sales information, contact Juan Leal at (305) 975-7472.

MCZ/Centrum Exercises Option to Purchase Second Tower at Flamingo South Beach for Condo Conversion; Sales Begin April 1

Chicago-based MCZ/Centrum announced today it will exercise its option to purchase the north tower at Flamingo South Beach from Apartment Investment and Management Company (AIMCO) for approximately $170 million and convert the 614-unit apartment building into condominiums. This follows the just-completed successful conversion of the 562-unit south tower. The real estate development company also announced that Fortune International will continue as exclusive sales and marketing partner for the north tower. Sales will begin April 1, with prices from the $300s to the $800s.

“We continue to remain bullish about the Miami Beach condominium market, particularly because we closed more than 400 units in Flamingo’s south tower during the fourth quarter of 2006,” said MCZ/Centrum developer Michael Lerner. “When compared to data posted by the Multiple Listing Service (MLS), these closings are especially significant because they are nearly equal to the total number of condos closed throughout Miami Beach during that same period.”

Added developer Arthur Slaven, “We sold out the South Tower in less than six months in one of the most difficult real estate environments in memory. This is proof that even in a soft real estate market, great properties sell. The truly smart buyers are taking advantage of this market and are buying waterfront real estate at very reasonable prices.”

The developers remain upbeat and positive about the sales prospects for the new tower, citing the fact that potential buyers can now see, touch and feel the re-envisioning of the project, thanks to the near-completed renovations and upgrades in the south tower. They estimate that between $10 and $15 million of a total $40 million renovation budget has been spent on south tower and common area upgrades and renovations under the design direction of the celebrated Rockwell Group.

Those renovations include a contemporary remodeling of the south tower lobby and interior hallways and the addition of more than 100 towering palm trees framing Balinese-inspired tropical gardens with wandering pathways and meditation areas. The two, bayfront pool areas are receiving upgrades, including custom marble and travertine decks and expanded tropical planters. Other outdoor amenities at the community include an outdoor spa as well as a tiki hut with food and beverage service. Flamingo also offers residents membership in a state-of-the-art, 10,000-square-foot athletic club that includes a full-sized, rooftop basketball court, juice bar and classes ranging from yoga and Pilates to spinning and kickboxing.

In addition, residents can take advantage of Flamingo’s resort-style concierge services including dog walking, housekeeping, car wash and restaurant reservations, and will soon be able to shop from on-property retailers such as a dry cleaners, upscale pet boutique, wine and epicure market, newsstand and nail salon, literally redefining Flamingo South Beach as a city-within-a-city.

Legendary as a Miami Beach residence, Flamingo South Beach consists of 1,688 units in three towers, situated on a 16.5-acre bayfront property with expansive views of Biscayne Bay, Star Island and downtown Miami. The 614 homes in the north tower include studios, one- and two-bedroom residences ranging in size from 500 square feet to 1,400 square feet. Units feature new glass balconies, impact-resistant sliding glass doors, high-speed Internet access, satellite television, walk-in closets and full-sized washer and dryer.

Credit: Miami Agent Magazine