First Quarter 2020 Miami Beach Luxury Condo Reportmedia.bhsusa.com/pdf/BHS_Miami_LUX_MR_1Q20.pdfQ1...

This report highlights any transactions entered into the Multiple Listing Service (MLS) and does not include developer sales or new construction that is not included within the MLS.

First Quarter 2020 Miami Beach Luxury Condo Report

This report highlights any transactions entered into the Multiple Listing Service (MLS) and does not include developer sales or new construction that is not included within the MLS.

bhsmiami.com Q1 2020 Miami Beach Luxury Condo Report

PROJECT One Ocean Apogee Continuum South Continuum North

DEVELOPER Related Group Related Bruce Eichner Bruce Eichner

ARCHITECT Enrique Norten/TEN Arquitectos Sieger-Suarez Fullerton-Diaz Sieger-Suarez

ADDRESS 1 Collins Ave. 800 S. Pointe Dr. 100 S. Pointe Dr. 50 S. Pointe Dr.

PROJECT AREA Miami Beach Miami Beach Miami Beach Miami Beach

FLOORS 7 22 40 37

UNITS 50 67 318 203

COMPLETION DATE 2016 2007 2002 2007

PROJECT ICON South Beach The Setai Faena House Edition

DEVELOPER Related Setai Group Faena Group Ian Schrager

ARCHITECT Michael Graves Alayo & Denniston Foster +Partners John Pawson

ADDRESS 450 Alton Rd. 101 20th St. 3315 Collins Ave. 2901 Collins Ave.


FLOORS 35, 40 41 16 11

UNITS 290 163 44 26


Miami Beach Market Report Condo Resales


PROJECT The St. Regis Marea Miami Beach South Pointe Towers Murano Grande

DEVELOPER Starwood Related John A. Hinson Related

ARCHITECT Sieger-Suarez Sieger-Suarez – Sieger-Suarez

ADDRESS 9701, 9703, & 9705 Collins Ave. 801 S Pointe Dr. 400 South Pointe

Dr. 400 Alton Rd.


FLOORS 24 8 25 25, 31, 37

UNITS 268 30 208 270


PROJECT Murano Portofino W Hotel/Residenc-es One Hotel & Homes Glass

DEVELOPER Related Tristar, Related, Starwood

LeFrak and Starwood Capital Terra Group

ARCHITECT Sieger-Suarez Nichols Brosch & Costas Kondylis

HKS Inc. & Kobi Karp Rene Gonzalez

ADDRESS 1000 S. Pointe Dr. 2201 Collins Ave. 102 24th St. 120 Ocean Dr.


FLOORS 17, 28, 37 20 17 18

UNITS 189 511 158 10


Miami Beach Market Report Condo Resales


Miami Beach Market Report Condo Resales Year Over Year Sales

$3,562,000

$10,312,500

$1,958,333

$6,205,000

$2,414,333$1,675,000

$3,725,000

$3,465,000 $2,750,000

$1,040,000

$4,375,000$4,011,667

$2,412,500

$11,300,000

$2,614,375

$5,050,000

$1,025,000 $1,280,000 $1,171,500 $1,123,167

$4,624,000

$1,250,000

$2,250,000

$4,200,000

$2,872,500

$1,200,000$1,255,000

$896,250

$4,800,000

$890,000

$3,640,600

$1,685,000

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

1 HOTEL +HOMES

APOGEE CONTINUUMNORTH

CONTINUUMSOUTH

EDITION FAENA HOUSE GLASS ICON MAREA MURANOGRANDE

MURANOPORTOFINO

ONE OCEAN SETAI SOUTHPOINTE

ST REGIS W HOTEL &RESIDENCES

Q1 2018 Q1 2019 Q1 2020

Average Closed Sales Price by Building and Year

4 4 1# OF SALES 4 1 0 3 4 1 4 4 2 0 0 0 0 0 0 0 0 0 3 1 1 0 0 1 1 1 4 2 2 1 4 0 0 2 0 0 2 6 1 3 1 14 6 5


267 18

Active Closed

Total # of Active & Closed Units

CLOSED SALESAverage Sale Price $2,434,056

Average Sale Price Per Square Foot $1,203

Median Sale Price $2,125,000

Median Sale Price Per Square Foot $1,383

Number of Sales (Closed) 18

Days on Market 201

ACTIVE LISTINGSAverage List Price $4,513,743

Average List Price Per Square Foot $1,986

Median List Price $3,185,000

Median List Price Per Square Foot $1,813

Listing Inventory (Active) 267

Listing Discount From Original List Price 15%

Absorption Period (Months) 44.5

Condo Mix # Sold Sales Share Med. Sales Price

Studio 0 0% $0

1 - bedroom 1 6% $1,685,000

2 - bedroom 13 72% $1,255,000

3 - bedroom 3 17% $4,800,000

4 - bedroom 1 6% $5,300,000

5 - bedroom 0 0% $0

Total Sales Volume $43,813,000

$4,513,743

$2,434,056$3,185,000

$2,125,000

$1,986

$1,203

$1,813

$1,383

k

1k

1k

2k

2k

3k

k

1M

2M

3M

4M

5M

Active Closed

Average and Median Price & PPSF

Average Median Avg. PPSF Median PPSF

$4,513,743

$2,434,056$3,185,000

$2,125,000

$1,986

$1,203

$1,813

$1,383

k

1k

1k

2k

2k

3k

k

1M

2M

3M

4M

5M

Active Closed




2

5

6

5

0

Below $500

$500 - $1,000

$1,000 - $1,500

$1,500 - $2,000

$2,000 - $2,500Number of Sales by PPSF

3

5

5

1

2

2

0

0 1 2 3 4 5 6

Below $999,999

$1,000,000 - $1,999,999

$2,000,000 - $2,999,999

$3,000,000 - $3,999,999

$4,000,000 - $4,999,999

$5,000,000 - $5,999,999

Above $6,000,000

Number of Sales By Absolute Dollar Amount

$3,830,430

$2,982,152$2,872,500$2,550,000

$1,868

$1,346

$1,735

$1,399

kkk1k1k1k1k1k2k2k2k

k

1M

2M

3M

4M

5M

Active Closed



$3,830,430

$2,982,152$2,872,500$2,550,000

$1,868

$1,346

$1,735

$1,399

kkk1k1k1k1k1k2k2k2k

k

1M

2M

3M

4M

5M

Active Closed



Miami Beach Market Report Condo Resales Q1 2020 (Jan-Mar) Sales Market Snapshot


$1,124 $1,140

$1,284

2

8

8

0

5

10

15

20

$1,000

$1,250

$1,500

Jan Feb Mar

PPSF # Closed Units

$1,124 $1,140

$1,284

116

213

210

0

100

200

300

400

$1,000

$1,250

$1,500

Jan Feb Mar

PPSF DOM

From January to March,

the number of sales

grew by 6 sales and

the average price per

SQFT increased by

$160 dollars.

The average Days on Market

increased 94 days, from

January to March.

Average PPSF and # of Closed Units by Month

Average $PSF and DOM by Month

$1,014

$1,672 $1,640

11

4

8

0

5

10

15

20

$0

$500

$1,000

$1,500

$2,000

Jul Aug Sep

PPSF # Closed Units

$1,014

$1,672 $1,640

201

304

95

0

100

200

300

400

$0

$500

$1,000

$1,500

$2,000

Jul Aug Sep

PPSF DOM

MIAMI BEACH MARKET REPORT CONDO RESALES Q2 2018 (APRIL-JUNE) SALES

Miami Beach Market Report Condo Resales Q1 2020 (Jan-Mar) Sales


Average Active & Closed $PSF and Total # of Units Sold by Building

Average Active & Closed Price and Total # of Units Sold by Building

$1,932

$3,078

$2,203 $2,112$2,597

$3,175

$2,502

$1,048

$1,653$1,306

$1,507 $1,699

$2,723

$1,212

$2,055$2,329

$1,402

$1,933$1,691

$686 $823$563

$1,426

$854

$1,485 $1,464

1 12

1 1

4

1 1

5

1

0

1

2

3

4

5

6

7

8

k

1k

2k

3k

4k

1 HOTEL &HOMES


CONTINUUMSOUTH


MURANOPORTOFINO

ONE OCEAN SETAI SOUTHPOINTE

TOWERS

ST REGIS W SOUTHBEACH

Active Closed # Closed Units

$3,616,938

$10,806,667

$4,865,500$5,669,638

$6,634,167

$11,692,778

$6,133,333

$1,884,072

$4,011,250$3,056,756 $3,528,229

$4,615,900

$3,441,458

$1,638,200

$5,815,452

$3,213,438$2,250,000

$4,200,000

$2,872,500

$1,200,000 $1,255,000$896,250

$4,800,000

$890,000

$3,640,600

$1,685,0002

1

2

11

4

1 1

5

1

0

1

2

3

4

5

6

7

8

k

2M

4M

6M

8M

10M

12M

14M

1 HOTEL &HOMES


CONTINUUMSOUTH


MURANOPORTOFINO

ONE OCEAN SETAI SOUTH POINTETOWERS




$1,817

$2,940

$2,019$2,335

$2,152

$3,187

$2,803

$1,117

$1,750

$1,272 $1,151

$1,959$1,749

$2,689

$1,954$2,126

$798

$2,131

$1,799$961 $1,103

$1,830

$2,971

$1,334

$1,8795

2 2

5

4

1 1 1

2

0

1

2

3

4

5

6

7

8

k

1k

2k

3k

4k

1 HOTEL AND HOMES

APOGEE CONTINUUM NORTH

CONTINUUM SOUTH

EDITION FAENA HOUSE GLASS ICON IL VILLAGGIO MAREA MURANO GRANDE

MURANO PORTOFINO

ONE OCEAN ST. REGIS THE SETAI W HOTEL & RESIDENCES


$1,817

$2,940

$2,019$2,335

$2,152

$3,187

$2,803

$1,117

$1,750

$1,272 $1,151

$1,959$1,749

$2,689

$1,954$2,126

$798

$2,131

$1,799$961 $1,103

$1,830

$2,971

$1,334

$1,8795

2 2

5

4

1 1 1

2

0

1

2

3

4

5

6

7

8

k

1k

2k

3k

4k

1 HOTEL AND HOMES

APOGEE CONTINUUM NORTH

CONTINUUM SOUTH

EDITION FAENA HOUSE GLASS ICON IL VILLAGGIO MAREA MURANO GRANDE

MURANO PORTOFINO

ONE OCEAN ST. REGIS THE SETAI W HOTEL & RESIDENCES



Average Active PPSF by Building and Unit Type

Average Closed PPSF by Building and Unit Type

$1,197$847

$1,826$1,425

$1,377$1,728

$2,492$2,110

$765

$991

$2,435

$1,118

$2,059 $2,010$2,292

$1,772$1,932 $2,326

$2,919 $2,425

$900 $1,014$1,065

$1,111

$2,639

$1,206$1,783

$2,202$2,019

$2,666$2,857

$2,366

$2,121

$2,962 $2,656

$1,532 $1,545 $1,402

$1,833 $1,448

$3,747

$1,502$2,173

$3,764

$4,235$3,903

$3,122 $3,067

$3,991

$3,002

$2,300

$1,814

$2,440

$1,921

$5,781

$1,056

$3,211

$1,315

k

1k

2k

3k

4k

5k

6k

7k

1 HOTEL ANDHOMES


CONTINUUMSOUTH


MURANOPORTOFINO



Studio 1 BR 2 BR 3 BR 4 BR 5 BR

$1,669$1,477

$1,741

$1,596

$766 $849$623

$984

$1,574

$2,117

$1,634

$1,972

k

1k

2k

3k

1 HOTEL ANDHOMES


CONTINUUMSOUTH


MURANOPORTOFINO





$1,948

$1,599 $1,404 $1,588 $1,517

$787

$888

$2,557

$1,149

$1,970 $1,795

$2,158

$1,767 $1,857

$2,768 $2,792$2,577

$1,019$1,147

$862

$1,437 $1,413

$2,586

$1,127

$1,862

$2,213$2,041

$2,658

$3,042

$2,095$2,004

$2,417

$1,576 $1,643$1,378

$1,799$1,935

$3,147

$1,249

$2,187

$2,425$2,865

$2,978

$4,289

$3,499

$1,083

$2,300

$1,493 $1,520

$3,381

$2,051

$3,649

$1,719

k

1k

2k

3k

4k

5k

1 HOTEL ANDHOMES


CONTINUUMSOUTH


MURANOPORTOFINO



SSttuuddiioo 11 BBRR 22 BBRR 33 BBRR 44 BBRR 55 BBRR


Of the 16 comparable condominiums noted, 10 had sales in Q4 2019 (62%).

The St. Regis held the highest number of closings at 5 sales.

Continuum South held the highest number of active inventory at 33 listings.

The St. Regis held the lowest average Days on Market at 85 days.

17

6

32

33

6

9

3

25

8

25

12

10

24

10

31

16

1

1

2

1

1

4

1

1

5

1

0 5 10 15 20 25 30 35

1 HOTEL & HOMES

APOGEE

CONTINUUM NORTH

CONTINUUM SOUTH

EDITION

FAENA HOUSE

GLASS

ICON

MAREA

MURANO GRANDE

MURANO PORTOFINO

ONE OCEAN

SETAI

SOUTH POINTE TOWERS

ST REGIS

W SOUTH BEACH

# Closed Units # Active Units

Total # of Active and Closed Units by Building

291

143 135

501

233

160235 211

85

431

2

1

2

1 1

4

1 1

5

1

0

1

2

3

4

5

6

0

100

200

300

400

500

600

1 HOTEL &

HOMES

APOGEE

CONTINUUM NORTH

CONTINUUM SOUTH

EDITION

FAENA HOUSE

GLASSIC

ON

MAREA

MURANO GRANDE

MURANO PORTOFINO

ONE OCEAN

SETAI

SOUTH POINTE TOW

ERS

ST REGIS

W SOUTH BEACH

DOM # Closed Units

Average Days On Market and Total # of Units Sold by Building


175

225

331

76

156

252

172

29

368

5

2 2

5

4

1 1 1

2

0

1

2

3

4

5

6

0

50

100

150

200

250

300

350

400 DOM # Closed Units


$1,507$1,626

$1,791$2,142

$2,852 $2,841

$1,268

$3,617

$1,464

$992

$1,701$1,365

1

13

3

10

2

4

6

8

10

12

14

k

1k

2k

3k

4k

Studio 1 BR 2 BR 3 BR 4 BR 5 BR 6 BR 7 BR


$871,857 $1,625,664$2,778,164 $5,891,564

$9,942,409$12,850,225

$16,800,000

$39,900,000

$1,685,000

$1,679,077 $5,000,000$5,300,0002

13

3

10

2

4

6

8

10

12

14

k4M8M

12M16M20M24M28M32M36M40M44M



Average Active & Closed $PSF and # of Units Sold by Unit Type

Two bedroom units continue

to hold the highest number of

closings at 13 sales.

Two bedroom units hold

an average sales price of

$1,679,077 and a closed price

per SQFT of $992.

Average Active & Closed Price and Total # of Units Sold by Unit Type



246

198185

58

2

13

3

10

2

4

6

8

10

12

14

0

50

100

150

200

250

300


DOM # Closed Units

Average Days On Market and Total # of Units Sold by Unit Type

Two bedroom units

continue to hold the

highest active inventory at

104 listings.

One bedroom units hold

the highest Days on Market

at 246 days.

Five plus bedroom units

hold the lowest closings at

0 sales each.

Four bedroom units hold

the lowest average Days on

Market at 58 days.

7

40

104

88

22

4

1

1

1

13

3

1

0 20 40 60 80 100 120

Studio

1 BR

2 BR

3 BR

4 BR

5 BR

6 BR

7 BR

# Closed Units # Active Units

Total # of Active and Closed Units by Unit Type


354

92

245

104

2

10 10

10

2

4

6

8

10

12

0

50

100

150

200

250

300

350

400


DOM # Closed Units


Active units represent the number of currently active units on 4/3/2020. Source for all re-sale values: flexmls.com.

CONTINUUM 40 S Pointe Dr, Suite 110, Miami Beach, FL 33139 t: 305.695.1111

SUNSET HARBOUR 1820 Bay Road, Miami Beach, FL 33139 t: 305.726.0100

COCONUT GROVE 2665 S Bayshore Dr, Suite 100, Miami, FL 33133 t: 305.666.1800

SOUTH MIAMI 7500 Red Road, Suite A, South Miami, FL 33143 t: 305.662.9975

Date post:	28-Jul-2020
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First Quarter 2020 Miami Beach Luxury Condo Reportmedia.bhsusa.com/pdf/BHS_Miami_LUX_MR_1Q20.pdfQ1...

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