Miami – Laurent Nangniot Realtor

China is Top Country Searching Miami Real Estate; Berlin is No. 1 Searching Global City

05/01/2023 No Comments

China is Top Country Searching Miami Real Estate

MIAMI — China posted the most global web searches for Miami homes in February 2023, according to a new report by the MIAMI Association of REALTORS® (MIAMI). China edged Colombia, which has now finished No. 1 or No. 2 among the top list of foreign countries searching Miami real estate in each of the last 12 months.

“Global buyers have accelerated their searches and purchases of South Florida real estate with fewer COVID restrictions and political-economic shifts abroad,” MIAMI Chairman of the Board Ines Hegedus-Garcia said. “China recently lifted its zero COVID policy after three years of lockdowns, which limited the travel of Chinese nationals to the U.S., and Miami real estate sells at a lower price per foot compared to other global cities like New York, London, Paris, etc.”

China accounted for 12.53% of all international searches on MiamiRealtors.com in February 2023, up 72% from its percentage of searches in February 2022 (7.30%).

Germany also made a notable move up in the Miami search rankings, zooming from No. 17 in January 2023 to No. 3 in February 2023.

Top-10 Countries Searching MiamiRealtors.com in February 2023:

Country Share of International Searches

China 12.53%
Colombia 11.44%
Germany 9.28%
Venezuela 6.36%
Philippines 4.36%
Argentina 3.91%
India 3.75%
Canada 3.36%
Mexico 3.17%
Spain 3.06%

All other countries 38.78%

Top Global Markets for South Florida Real Estate
Argentina purchased the most South Florida real estate among foreign countries in 2022, according to the 2022 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members. Argentina buyers purchased 16% of all international purchases in South Florida. Colombia (13%), Peru (8%), Canada (8%) and Venezuela (6% rounded out the top 5, respectively. Access the report: https://bit.ly/MIAMIGlobalStudy

Florida has finished as the top destination for international buyers for 14 consecutive years, according to the National Association of REALTORS® 2022 International Transactions in U.S. Residential Real Estate. Florida is the No. 1 destination for foreign buyers from Colombia, Canada, Brazil and other countries, according to the study.

Miami remains a bargain for prime property ($1M and up) compared to other global cities, according to the 2023 Knight Frank Wealth Report. For $1M, homebuyers can purchase 64 square meters of prime property in Miami. That is almost four times more than Monaco (17 square meters), nearly two times more than New York (33) and London (34) and more than Paris, Sydney, Tokyo and more.

When looking at all price ranges, South Florida is also a bargain in comparison to other global cities and U.S. metros, according to the NAR 2022 International Study. Miami-Fort Lauderdale-West Palm Beach’s price per square meter is $3,170, far below at least 30 global cities and 13+ U.S. Metros including markets such as Hong Kong ($28,570), New York City ($17,191), San Francisco-Oakland-Hayward, CA ($8,250), Madrid, Spain ($6,173), Los Angeles-Long Beach-Glendale, CA ($4,740) and Seattle-Tacoma-Bellevue, WA ($4,460).

Top-10 International Cities Searching MiamiRealtors.com in February 2023

Berlin, Germany
Bogotá, Colombia
Medellín, Colombia
Barquisimeto, Venezuela
Maracaibo, Venezuela
Buenos Aires, Argentina
Cali, Colombia
Caracas, Venezuela
Mexico City, Mexico
Madrid, Spain

Texas No. 1 State Searching for Miami Real Estate for Third Consecutive Month
Texas registered the most domestic Miami real estate web searches in February 2023.

New York was the top state for out-of-state buyers in the South Florida area in 2022, according to the 2022 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members. Access the report: https://bit.ly/MIAMIGlobalStudy

Top-10 U.S. States Searching MiamiRealtors.com in February 2023
1. Texas

Washington
Georgia
West Virginia
California
Virginia
North Carolina
New York
Ohio
Illinois

Top-10 U.S. Metros Searching MiamiRealtors.com in February 2023

Houston
Charleston-Huntington, WV
New York
Atlanta
Washington, D.C.
Los Angeles
Chicago
Dallas-Ft. Worth, TX
San Antonio, TX
Norfolk-Portsmouth-Newport News, VA

About the MIAMI Association of Realtors®

The MIAMI Association of Realtors (MIAMI) was chartered by the National Association of Realtors in 1920 and is celebrating 103 years of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of six organizations: MIAMI RESIDENTIAL, MIAMI COMMERCIAL; BROWARD-MIAMI, a division of MIAMI Realtors; JTHS-MIAMI, a division of MIAMI Realtors in the Jupiter-Tequesta-Hobe Sound area; MIAMI YPN, our Young Professionals Network Council; and the award-winning MIAMI Global Council. MIAMI REALTORS represents nearly 60,000 total real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local Realtor association in the U.S. and has official partnerships with 246 international organizations worldwide. MIAMI has been selected to host the prestigious FIABCI World Congress on June 5-9, 2023. MIAMI’s official website is www.MiamiRealtors.com

Source : https://www.miamirealtors.com/2023/03/28/china-is-top-country-searching-miami-real-estate-berlin-is-no-1-searching-global-city/

Blog, Miami, Miami Beach

Miami Beach Hotel That Hosted the Beatles Is Demolished

04/04/2023 No Comments

By Michael Levenson

Nov. 14, 2022

In its heyday, the Deauville Beach Resort, a Miami Beach hotel, was a sleek emblem of South Florida cool, hosting the Beatles, Frank Sinatra and John F. Kennedy, not to mention innumerable weddings, proms and poolside parties.

But on Sunday, as a crowd of onlookers cheered and shouted, the hotel was leveled in an implosion, leaving behind a billowing cloud of dust, a pile of rubble and lingering questions about the future of the oceanside site on Collins Avenue.

In an email to residents after the building was destroyed, Mayor Dan Gelber said that the city had waged a “long and tortured court battle with its neglectful owners who left it in disrepair for five years.”

“It had to be imploded because multiple building officials and judges told us it was unsafe,” he said an interview on Monday.

Mr. Gelber acknowledged that the future of the site was uncertain after Miami Beach voters on Tuesday rejected a referendum he had supported, which would have allowed Stephen M. Ross, the chairman and founder of Related Companies and the owner of the Miami Dolphins, to take control of the site and build a hotel and condominium complex there.

“We need to go back to the drawing board and find a better option for its future,” Mr. Gelber wrote in the email to residents.

In a black-and-white photograph, vehicles line up the street in front of The Deauville hotel on February 16, 1964. The sign atop the multistory building reads "Deauville." — The Deauville hotel in 1964. Credit…Getty Images

In a black-and-white photograph from better days, several dozen men in swimming trunks cluster around blocks of ice that were floating in the pool of the Deauville hotel in Miami Beach. — Swimmers in the pool of the Deauville. Credit…Getty Images

Built in 1957, the Deauville was a recognizable attraction on Miami Beach, with the clean lines and lavish interiors typical of the architectural style known as Miami Modern, or MiMo.

The building featured a dramatic porte-cochere fashioned of parabolic curves over the driveway entrance, and the sign out front had a star instead of a dot over the letter “i” in its name.

In 1964, the “Ed Sullivan Show” broadcast the Beatles live to 70 million people from the hotel’s Napoleon Ballroom, helping to certify the band as an American sensation. Thousands of young fans thronged the hotel, clamoring for a glimpse of the lads from Liverpool.

Onstage at the Deauville in 1964, Paul McCartney, John Lennon and George Harrison, of the Beatles, gather around a mic as they sing and play electric guitars. The other band member, Ringo Starr, plays the drums in the background. — The Beatles played live from the Napoleon Ballroom at the Deauville on “The Ed Sullivan Show” in 1964. Credit…Getty Images

The Deauville’s owners shut down the hotel after an electrical fire in 2017. The city of Miami Beach took them to court, hoping to force repairs. But the owners indicated they did not have enough money from insurance to do the necessary work.

In January, the city recommended demolition after the owners filed an engineering report that found the building to be unsafe. Concern about the hotel’s structural integrity grew after the Champlain Towers South condominium collapsed in June 2021 in neighboring Surfside, killing 98 people.

The poolside area of the Deauville, seen through a chain-link fence, looked overgrown. The multistory building of the hotel is, past palm trees, in the background in the glow of sunlight. — The Deauville had fallen into disrepair, but a lawyer for the owners had said they had spent millions trying to save it. The overgrown pool area was photographed in January 2022.Credit…Scott McIntyre for The New York Times

The Deauville property is owned by a corporate entity registered to the Meruelo family, which runs other hotels and casinos and also works in construction. In January, Jose Chanfrau, a lawyer for the family, dismissed the notion that the owners had let the building fall into disrepair after the fire and further damage from Hurricane Irma in 2017.

The owners spent “millions of dollars to save the hotel,” he said in a statement then. “The ownership is committed to bringing back the Deauville to its glory days.” But Mr. Chanfrau said on Monday that he no longer represented the family and referred questions to a family member, who did not immediately respond to a request for comment.

The shore area near where the Deauville hotel used to stand, after the implosion had taken place. People are walking on the white sand. Other buildings and the Atlantic Ocean are on the horizon. — Passers-by looked at the debris after the demolition of the Deauville Beach Resort in Miami Beach.Credit…Cristobal Herrera-Ulashkevich/EPA, via Shutterstock

Daniel Ciraldo, executive director of the Miami Design Preservation League, watched the implosion on a live feed on Sunday morning, an experience he called “devastating.”

“Anyone you ask here has a memory of going to the Deauville, whether they would go to prom there or their grandmother would go there,” he said. “It’s a landmark to the community and there are memories there that will remain, but seeing the physical building be imploded, it was just hard to bear.”

Source: https://www.nytimes.com/2022/11/14/us/miami-deauville-beach-resort-implosion.html

Blog, Miami

Texas company buys Hotel Colonnade Coral Gables for $63 million

04/04/2023 No Comments

Apr 4, 2023

The historic Hotel Colonnade Coral Gables was sold to an affiliate of Crescent Real Estate for $63 million.

Bethesda, Maryland-based Pebblebrook Hotel Trust (NYSE: PEB) announced the deal and the price. The deed, which was filed in county records with a value of $45.56 million, was to GPIF CCG Hotel Owners LLC, care of Fort Worth, Texas-based Crescent Real Estate. Interbank provided a $41.81 million mortgage to the buyer. Often, hotel deals include additional payments for non-real estate assets.

The Hotel Colonnade at 180 Aragon Ave. has 157 rooms, so the price equated to $401,274 per room. It also has 34,000 square feet of meeting and event space.

The seller was represented by JLL’s Christopher Exler and Pamela Vasquez, while JLL’s Mark Fisher helped the borrower secure financing.

The hotel was built in 1926, making it one of the oldest in Coral Gables. It last traded for $43.09 million in 2014 and was renovated in 2016.

According to Pebblebrook Hotel Trust, the Hotel Colonnade posted net operating income of $4.1 million in 2022.

Crescent Real Estate was founded by John Goff and Richard Rainwater in 1987. According to its website, the company has $4 billion in assets under management, including 4,612 hotel rooms, 5.39 million square feet of offices and 3,061 residential units.

By Brian Bandell – Real Estate Editor, South Florida Business Journal

Source: https://www.bizjournals.com/southflorida/news/2023/04/04/texas-company-historic-coral-gables-hotel.html

Miami

Unique Casadonna Announced at Miami Woman’s Club

03/23/2023 No Comments

Dave Grutman’s Groot Hospitality and Tao Hospitality Group have announced that they will open a restaurant called Casadonna at the historic Miami Woman’s Club this summer, according to Bloomberg and Eater.

Tao co-founder Noah Tepperberg told Bloomberg that “from day one our idea was to do something iconic.”

The venue will have 366 seats, with indoor and outdoor space on the bayfront.

The name itself is a merger of the words for “house of the woman” in Italian. The menu will be “Riviera Italian,” with a modern presentation of dishes from Naples, Taormina, Bari, Positano, and Gaeta.

The Miami Woman’s Club (spelled as the Miami Women’s Club by the two media outlets, but as Miami Woman’s Club on official records) was built in 1930, according to county records. It was added to the National Register of Historic Places in 1974. Casadonna designer Ken Fulk told Bloomberg that it is a “grande dame of a building.”

The theme of the new restaurant will be “old Hollywood glamour comes to modern day Miami,” Fulk said.

The kitchen is expected to remain open until midnight or 11PM on weekdays, and until 1 AM on weekends, but Grutman says he expects guests will stay even later than that.

Opening is expected in June or July 2023.

Photos of the historic building from 2013:

(photos: Phillip Pessar)

Source: The Next MIAMI : https://www.thenextmiami.com/iconic-casadonna-announced-at-miami-womans-club/

Blog, Miami

Signature Bridge Highway Project Anticipated Completion Pushed Back To 2026, Cost Rising

02/11/2023 No Comments

The massive highway rebuild and expansion currently underway in the downtown Miami area is now estimated to be completed much later than originally announced, and at a higher cost, according to the project website.

The new completion date is anticipated for summer 2026 (compared to the original fall 2023). The new budget is estimated at $840 million (it was initially $802 million).

The contract began in October 2018, with a four-year deadline to the contractor for completion.

The deadline was permitted to be extended for special events, holidays, or weather delays.

Special events include events at the Arsht Center, American Airlines Arena, Bayfront Park and Marlins Park. Other events such as the Super Bowl, Art Basel, the South Beach Wine and Food Festival, the International Boat Show, and the Miami Marathon are also allowed to push back the deadline.

In addition to a Signature Bridge with spider or fountain-like arches, the project also includes rebuilding and expanding the highway in the area, including a double-deck highway.

(photo: FDOT)

Source : The Next Miami https://www.thenextmiami.com/signature-bridge-project-completion-delayed-until-2026-cost-rising/

Blog, Fort Lauderdale, Miami

Miami – Ville de lumière !

05/02/2022 No Comments

Une destination au-delà de toutes les espérances

Avec son climat idéal, ses plages immaculées, ses attractions de premier plan, ses hôtels de luxe, son offre de restauration variée et sa scène artistique et culturelle florissante, Miami a tous les ingrédients pour des vacances idylliques. Venez y découvrir une ambiance internationale raffinée, des paysages tropicaux splendides et une culture d’une rare diversité.

Une ville aux trésors cachés

Si Miami est surtout réputée pour son climat et ses plages, effectivement fantastiques, c’est aussi une ville pleine de trésors cachés. Pour découvrir une facette plus inattendue de Miami, commencez par arpenter ses quartiers très différents les uns des autres, qui vous donneront un aperçu des origines culturelles de cet incroyable melting-pot. Les traditions caribéennes s’affichent à Little Haiti, tandis que l’influence des Bahamas se fait sentir à West Coconut Grove. Mêlez-vous à la population afro-américaine dans l’Historic Overtown et visitez la communauté florissante d’indiens Miccosukee à South Dade.

Art déco à Miami Beach

Ce ne sont pas seulement la mode et le style de vie hauts en couleurs qui confèrent à South Beach son caractère si particulier. Admirez aussi ses bâtiments colorés emblématiques qui bordent notamment Ocean Drive. L’architecture Art déco de Miami Beach qui lui a valu son surnom de Riviera américaine est née dans les années 1920-1930, sous l’influence parisienne et méditerranéenne. En arrivant ici, ce courant a insufflé un air de nouveauté et donné à la ville son style unique aux couleurs éclatantes. Grâce aux efforts de conservation, il est possible d’admirer aujourd’hui encore ces splendides bâtiments. Pour découvrir cette architecture en compagnie d’un spécialiste, réservez une visite à pied à l’Art Deco Welcome Center.

Musées dans la baie

Miami possède depuis longtemps quelques excellents musées aux collections passionnantes, comme le Bass Museum of Art et le musée Wolfsonsian à Miami Beach. Mais depuis peu, la scène culturelle s’est encore enrichie. Dans le centre-ville de Miami trône désormais le Museum Park, un vaste parc urbain verdoyant avec une vue superbe sur la baie. Ce magnifique espace vert comprend aussi deux musées parmi les plus intéressants de la ville : le Perez Art Museum Miami et le Frost Museum of Science. Le premier, souvent désigné sous son acronyme PAMM, abrite une collection d’œuvres impressionnante, avec notamment de l’art expérimental, sur près de 18 600 mètres carrés. Le Frost Museum of Science compte six étages d’expositions interactives, dont le Frost Planetarium et le Gulf Stream Aquarium de 1 892 mètres cubes d’eau. Vous pourrez même y toucher quelques créatures marines.

Saveurs internationales

Little Havana accueille la bouillonnante communauté cubaine de Miami. Vous y trouverez des food trucks, les meilleurs sandwichs cubains de la ville ainsi que des clubs de salsa ouverts tard le soir, dont le plus populaire du quartier, The Ball & Chain. À Calle Ocho, Southwest Eighth Street, se déroule chaque année le carnaval de Miami. Visitez El Titan de Bronze, une usine familiale de fabrication de cigares cubains, où vous pourrez admirer l’incroyable savoir-faire des ouvriers roulant de véritables cigares. Miami abrite aussi Little Haiti, un quartier en perpétuelle évolution où règne une ambiance haïtienne authentique et où se trouvent des boutiques tendance.

Source : https://fr.visittheusa.ca/destination/miami