2016 trends annual report

Western Broward Southwest Ranches Plantation Sunrise Weston ParklandBroward | North End Lauderdale-by-the-Sea Hillsboro Beach Lighthouse Point Bay Colony Sea Ranch The LandingsEast Fort Lauderdale Las Olas Isles Harbor Beach Fort Lauderdale Beach Rio Vista Victoria Park & Colee Hammock Sunrise Key Coral Ridge / C.R. Country ClubBroward | South End Hollywood Beach Hallandale Beach

Miami | North End Aventura Golden Beach Bal Harbour Surfside Sunny IslesThe Islands Bay Harbor Islands Indian Creek Normandy Isles La Gorce Sunset Islands Venetian Islands Palm/Hibiscus/Star Islands Fisher Island Key BiscayneMiami Beach South Beach Mid Beach North BeachDowntown Miami Midtown Edgewater Downtown Miami BrickellWestern Miami DoralMiami | South End Coconut Grove Coral Gables Pinecrest Palmetto Bay CocoPlum Gables Estates Snapper Creek Lakes Ponce-Davis & High Pines Old Cutler Bay

BR

OW

ARD

CO

UN

TYM

IAMI-D

ADE C

OU

NTY

CONDOS

57

38 – 39

56

36 – 37

34 – 35

26 – 27

28 – 33

SF HOMES

52 – 53

48 – 51

44 – 47

20 – 23

42 – 43

16 – 19

12 – 15

8 – 11

SPOTLIGHT ON PAGE 6

58 – 61

62 – 81

CONTENTS

2010 – 2020 Development Cycle

ONE SIR Development Portfolio

DANIEL DE LA VEGA President & Managing Partner ONE Sotheby’s International Realty

Of all the exciting developments in 2015, perhaps the most exciting was how engaged consumers and market

players were in trying to decide whether the market could get any better than it was in 2014. Would 2015 hold all

the same promise as the prior record year? Despite a fairly persistent drumbeat of the media painting a picture of

a market bubble, the market did not act bubble-like. In fact, it showed signs of maturity much the same way, and

for the same reasons, that the region has matured into a more diversified and vibrant economy.

On pure analytical terms, Miami-Dade County only had six markets retreat on overall average value gains, with 38

markets advancing, some in the double digits. The winners outnumbered the losers by six to one in the single-

family markets throughout Miami-Dade. In Broward County, only five markets retreated while 23 advanced year-

over-year gains from 2014, winners beating losers by a measure of five to one.

It is with no less enthusiasm that the condo market stats are presented. While Miami-Dade lost ground in 10

markets and gained in 13, the market supply of new projects has slowed resale price appreciation, which has been

spiking for the past two years. Broward’s condo market was more stable, but also faces much less competition

from new projects. What is evident throughout the market is that buyers have more opportunity, but the best-in-

class, newer projects still represent good long-term value.

Luxury pricing is stabilizing, especially in the $1 million – $5 million price class. The year brought fewer overall

trades in this price class and, as a result of higher inventory, price appreciation slowed. Some of this is also tied

to sellers’ lofty price expectations, which is causing inventory to be mispriced and, therefore, stay on the market

longer. The $5 million – $10 million class showed remarkable resiliency and the $10 million+ class registered

strong, with 22 transactions in Miami-Dade averaging $17 million, and a single sale in Broward at $27 million.

Broward and Miami-Dade continued their march forward and, despite some retrenching of condo resale pricing

in downtown Miami, the overall average pricing and velocity was strong. The forward forecast into 2016 is that

sellers will see more competition and buyers will be more selective. Continued economic momentum in the South

Florida region, and continued strength in the overall economy will determine the direction of 2016 pricing.

We hope the report is useful as you explore the dynamics of this exciting market. Our partnership with Integra

Realty Resources (IRR) continues to provide important third-party insights and research into the market. At ONE

Sotheby’s International Realty, we strive to be your real estate advisors of choice as we shape the market together.

ANTHONY M. GRAZIANO, MAI, CRE

Senior Managing DirectorIntegra Realty Resources

MIAMI-DADE & BROWARD:CONTINUED MOMENTUM IN A ROBUST MARKET

5

METHODOLOGY

Following the methodology first applied in last year’s TRENDS market report, the current model abandons the

variable minimum price threshold view used in prior reports so that averages over time are not skewed by

elimination of transactions beyond a threshold and changes in market conditions do not skew the directionality

of the real estate market averages.

The most significant change in methodology is the development of the condominium index. The difficulty in

comparing existing condominium project average pricing is that the pricing averages have no control over

penthouse units, waterview versus waterfront or age and market position of the product. ONE Sotheby’s

International Realty and IRR Miami developed an index of relevant condominium towers that comprise what

we consider to be a representative sample of the luxury projects within each submarket. The inclusion of each

project was vetted by brokerage and appraisal staff from the respective firms and the sampling reflects the

center of the luxury market as it relates to the specific submarket.

Average pricing data was then calculated for each of the relevant years by submarket and unique units were

excluded from the sample to avoid skewing the average price indicators, making the report as accurate and

impartial as it can be. The implementation of project samples also helped control the variability brought about

by merely averaging all condo projects within a specific submarket, which when comparing multiple years was

less reflective of changing market conditions.

While this methodology only reflects a “sample” of the condo market, the number of projects and number

of units in the sample are considered representative of the market. The sample pool does not include pre-

construction projects. Therefore, the averages and indicators reflect contemporary existing peers and are not

meant to reflect pricing of the newest projects coming to market.

This methodology will also allow us future analytical capability to project floor premiums, view premiums

and penthouse premiums since the data will be isolated for direct and discrete comparison on these function

points. We hope this will clarify directionality of the market and allow for deeper analysis in future reports.

This report is not meant to replace property analysis by a qualified broker and should not be applied to specific

properties without consultation with a professional. The report is meant to inform on broader trends and to

facilitate comparison and forecasting at the macro market level.

©MMXVI ONE Sotheby’s International Realty, licensed real estate broker. Sotheby’s International Realty® is a licensed trademark to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Office is Independently Owned and Operated. Statistics provided by Integra Realty Resources – Miami\Palm Beach. The information contained herein is deemed accurate but not guaranteed.

6

Miami-Dade has remained the most sought-after,

most populous, most active and most expensive

county in South Florida, with continued, stable

price growth and somewhat even transaction

numbers in 2015, compared to 2014.

Concerns about the so-called “affordability gap”

abated, to some extent as the result of a wave of

new rental and homeownership development.

Pricing has predominantly maintained or even

exceeded its levels over the prior year, while

transaction volume in some property segments,

such as $1M+ condos and waterfront homes and

condos, ebbed somewhat.

In 2015, Miami-Dade County had six single-family

submarkets experiencing price reversals and 38

submarkets that saw year-over-year gains. The

winners, hence, outnumbered the losers six to

one and, by appreciation measures, 2015 was

a strong year in the Miami-Dade single-family

category. Non-waterfront pricing only declined in

one community in the single-family market.

The land crunch continues to be a defining factor

in Miami’s real estate evolution, as are global

economic trends, foreign currency fluctuations,

and Miami-Dade’s attractiveness among foreign

buyers from Latin America and beyond.

FEATURED: DORAL

In addition to the core submarkets, new luxury

neighborhoods are emerging in Miami. A new

concentration of single-family residences can be

found in the suburb of Doral. Home to the Trump

Doral golf resort, two malls and two emerging

downtown areas, as well as upscale single-family

developments such as the Mansions at Doral,

Doral is the most significant and among the

fastest-growing luxury submarkets west of US-1.

WATERFRONTSINGLE-FAMILY HOMES

NON-WATERFRONTSINGLE-FAMILY HOMES

# For Sale b(avg./month)

# Sold b

PPSF b


# Sold b

PPSF b

MIAMI-DADESINGLE-FAMILY HOMES

AN OVERVIEW OF CURRENT MARKET CONDITIONS

TOTAL MARKET

804

966$317

5,573

10,335$126

2011

2011

735

1,103$472

4,801

13,194$182

2015

2015

680

1,116$450

4,905

12,988$172

2014

2014

619

1,131$377

3,954

12,481$157

2013

2013

676

1,036$398

3,908

10,998$134

2012

2012

PPSF Trendline b g 49% FROM 2011

# Sold Trendline bg 14% FROM 2011


# Sold Trendline b g 28% FROM 2011

7

$1M TO $5M TRANSACTIONS


$10M+ TRANSACTIONS

h

493

h

877

# Sold

# For Sale (avg./month)

h

798

h

749

h

918

h

848

h

890

h

1,031

h

582

h

742

h

30

h

98

# Sold


h

48

h

104

h

57

h

110

h

63

h

137

h

46

h

114

h

11

h

57

# Sold


h

16

h

67

h

19

h

84

h

22

h

97

h

21

h

65

# Sold Trendlineh

# Sold Trendlineh

# Sold Trendlineh

LUXURY MARKET

2011 2011 20112013 2013 20132012 2012 20122014 2014 20142015

IN 2015,

975OF MIAMI-DADE’S SINGLE-FAMILY HOME SALES

WERE CLOSED FOR OVER $1 MILLION.

IN 2011,

534OF MIAMI-DADE’S SINGLE-FAMILY HOME SALES


REPRESENTING A 83% RISE IN LUXURY MARKET SALES FROM 2011 TO 2015

2015 2015

4730 N BAY ROAD, MIAMI BEACH

8

2011

$987

$599

$551

$551

$459

$164

GABLES ESTATES

CORAL GABLES

OLD CUTLER BAY

PALMETTO BAY

COCOPLUM

COCONUT GROVE

2012

$1,095

$693

$553

$533

$518

$188

GABLES ESTATES

COCONUT GROVE

OLD CUTLER BAY

PALMETTO BAY

CORAL GABLES

COCOPLUM

2013

$806

$671

$564

$531

$483

$191

GABLES ESTATES

COCONUT GROVE

OLD CUTLER BAY

PALMETTO BAY

COCOPLUM

CORAL GABLES

2014

$1,329

$698

$690

$657

$656

$203

GABLES ESTATES

COCOPLUM

OLD CUTLER BAY

PALMETTO BAY

COCONUT GROVE

CORAL GABLES

2015 (% change from 2014)

$932 (h 30%)

$824 (g 18%)

$737 (g 12%)

$705 (g 2%)

$639 (h 3%)

$250 (g 23%)

COCOPLUM

OLD CUTLER BAY

PALMETTO BAY

CORAL GABLES

COCONUT GROVE

TOTAL MARKET:NEIGHBORHOOD TO WATCH

CORAL GABLES

MIAMI | SOUTH END: WATERFRONT, SINGLE-FAMILY HOMES

COCONUT GROVE

CORAL GABLES

PALMETTO BAY

COCOPLUM

GABLES ESTATES

OLD CUTLER BAY

TOTAL MARKET: AVERAGE PRICE PER SQUARE FOOT

$1,400

$1,200

$1,000

$800

$600

$400

$200

$0

THE NEIGHBORHOODS

“Due to the natural, unaltered beauty of their land,

the neighborhoods east of Old Cutler Road have

been in high demand since the road first opened in

1883. Some of Miami’s most peaceful residences

can be found in the area, which, on top of offering

boutique shopping options and a robust school

system, features great accesibility to Biscayne Bay

and an abundance of boat docking alternatives.”

— Claudia Fernandez, Estate Agent

THE RESIDENCES

“The lush, canopied thoroughfare of Old Cutler

Road is flanked mostly by guard-gated enclaves

that are made up of many one-acre-plus estates;

numerous are waterfront. This is where the South

End’s true essence resides, where chic and tropical

merge into a brilliantly tangible feeling of luxury.

Experiencing it firsthand, you understand why this

is where you want to be.”

— Mauricio J. Barba, Estate Agent

Omissions due to low transaction numbers or absence of market: Pinecrest, Snapper Creek Lakes, Deering Bay and Ponce-Davis & High Pines

TOTAL MARKET: NUMBER OF TRANSACTIONS

COCONUT GROVE

CORAL GABLES

PALMETTO BAY

COCOPLUM

GABLES ESTATES

OLD CUTLER BAY

11

66

7

6

9

4

2015

4

77

25

16

8

6

2013

10

76

25

12

8

9

2014

8

86

23

13

12

5

2012

8

57

20

10

3

4

2011

GABLES ESTATES

2015 AVG. PRICE / SQUARE FOOT: $737

INCREASE OVER 2014 PERFORMANCE


12% 61%

LEG

END

9

South End waterfront markets consist of a number of small subdivisions

in the southern part of Coral Gables, as well as parts of Palmetto Bay and

Coconut Grove. Palmetto Bay luxury pricing underperformed the prior year,

although this reflects a scarcity of sales in the bayfront eastern half of the

submarket and, therefore, a predominance of canalfront sales. Old Cutler

Bay saw an 18% increase in total market PPSF with a total of four sales.

Values increased a modest 2% in Coconut Grove and 12% in Coral Gables

over the prior year. Luxury in Coral Gables reached an avg. of $7,039,324,

up from $6,452,708 in 2014. Both total and luxury pricing were up in Coral

Gables and Coconut Grove, although pricing dipped in Cocoplum. Gables

Estates saw a total market decrease, but a 40% increase in luxury pricing.

OVERALL MARKET INSIGHTSLUXURY MARKET:NEIGHBORHOOD TO WATCH

GABLES ESTATES

Cocoplum, Gables Estates and Old Cutler Bay are subsections of Coral Gables.

LUXURY MARKET: THE TOP 50% OF EACH MARKET IN 2015 (BY AVERAGE HOME PRICE)

GABLES ESTATES

$12,993,750

g 40% FROM 2014

WITH 4 TRANSACTIONS

CORAL GABLES

$7,039,324

g 9% FROM 2014

WITH 33 TRANSACTIONS

OLD CUTLER BAY

$8,350,000

g 102% FROM 2014

WITH 1 TRANSACTION

COCOPLUM

$4,343,333

h 17% FROM 2014

WITH 3 TRANSACTIONS

PALMETTO BAY

$1,022,131

h 74% FROM 2014


COCONUT GROVE

$7,062,500

g 31% FROM 2014

WITH 5 TRANSACTIONS

2015 AVG. HOME PRICE: $13 MILLION


40% Despite a 30% drop in its total market, Gables Estates’ top half of homes sold, considered ultra-luxury, shows a tremendous increase in pricing during 2015.

485 LEUCADENDRA DRIVE, GABLES ESTATES

10

2011

$412

$346

$318

$252

$244

$222

$136

S. CREEK LAKES

COCONUT GROVE

COCOPLUM

PINECREST

P. DAVIS H. PINES

PALMETTO BAY

CORAL GABLES

2012

$368

$319

$310

$263

$260

$235

$142

S. CREEK LAKES

COCONUT GROVE

COCOPLUM

PINECREST

P. DAVIS H. PINES

PALMETTO BAY

CORAL GABLES

2013

$467

$413

$373

$322

$304

$256

$164

S. CREEK LAKES

CORAL GABLES

COCOPLUM

PINECREST

P. DAVIS H. PINES

PALMETTO BAY

COCONUT GROVE

2014

$524

$447

$401

$362

$330

$292

$180

S. CREEK LAKES

CORAL GABLES

COCOPLUM

PINECREST

P. DAVIS H. PINES

PALMETTO BAY

COCONUT GROVE


$581 (g 11%)

$477 (g 7%)

$459 (g 14%)

$403 (g 11%)

$379 (g 15%)

$316 (g 8%)

$190 (g 5%)

CORAL GABLES

COCOPLUM

PINECREST

P. DAVIS H. PINES

PALMETTO BAY

COCONUT GROVE


COCONUTGROVE

MIAMI | SOUTH END: NON-WATERFRONT, SINGLE-FAMILY HOMES

$600

$500

$400

$300

$200

$100

$0

THE NEIGHBORHOODS

“From Coconut Grove to Palmetto Bay, the South End

is home to many family-friendly communities. Coral

Gables and Coconut Grove are lush and vibrant,

offering an array of restaurants and entertainment

options. Further south, neighborhoods become

quieter and more rural. As different as one area is

from the next, these neighborhoods are home to

some of the county’s best schools.”

— Al Arostegui, Estate Agent

THE RESIDENCES

Omissions due to low transaction numbers or absence of market: Gables Estates, Old Cutler Bay and Deering Bay


COCONUT GROVE

CORAL GABLES

PINECREST

PALMETTO BAY

COCOPLUM

P. DAVIS H. PINES

S. CREEK LAKES

199

457

211

315

17

15

6

2015

248

559

250

301

10

56

6

2013

220

465

243

308

11

52

8

2014

200

465

215

284

8

46

7

2012

200

419

191

263

19

37

9

2011

S. CREEK LAKES




11% 65%

“This area’s strong communities have spacious

lots that allow for amenities such as gardens,

pools and entertaining areas without constraining

living space. Styles range from midcentury modern

homes and classic ranches to new construction

with all the latest trends and technology. Due to

the region’s outstanding public school system,

South End residences tend to retain their value.”

— Jill Penman, Estate Agent

COCONUT GROVE

CORAL GABLES

PINECREST

PALMETTO BAY

COCOPLUM

SNAPPER CREEK LAKES

PONCE-DAVIS & HIGH PINES

LEG

ENDTOTAL MARKET:

AVERAGE PRICE PER SQUARE FOOT

11

The historic live-work-play community of Coral Gables experienced

robust single-family home sales on both volume and pricing in 2015,

with average pricing per square foot increasing 15%. Coconut Grove,

home to the prestigious Ransom Everglades School as well as Miami’s

city hall, delivered 11% annual gains for non-waterfront single-family

homes. More infill redevelopment and renovations in the “Old” Grove will

most likely drive sale prices this year.

Pinecrest and Palmetto Bay saw price “restraint”, each staying under

the 10% appreciation marker at 8% and 5% respectively, after last year’s

appreciation of 14% and 10%. Cocoplum posted 7% PSF gains while

Snapper Creek and Ponce Davis posted 11% and 14% average price gains.


SNAPPER CREEKLAKES

S. CREEK LAKES

$5,221,667

h 2% FROM 2014

WITH 3 TRANSACTIONS

COCONUT GROVE

$1,553,456

h 5% FROM 2014


P. DAVIS H. PINES

$3,698,286

g 26% FROM 2014

WITH 7 TRANSACTIONS

CORAL GABLES

$1,512,874

NO CHANGE FROM 2014


PALMETTO BAY

$659,369

g 1% FROM 2014


COCOPLUM

$3,143,125

g 14% FROM 2014

WITH 8 TRANSACTIONS

PINECREST

$1,845,321

h 22% FROM 2014


2015 AVG. HOME PRICE: $5.2 MILLION

HIGHER THAN P. DAVIS & H. PINES

41% Despite its decrease in pricing compared to 2014, SCL remains the highest priced luxury, non-waterfront market in Miami-Dade and Broward combined.

5801 MOSS RANCH ROAD, PINECREST


Cocoplum and Snapper Creek Lakes are subsections of Coral Gables.

12

2011

$775

$628

$566

N BAY ROAD

MID BEACH

PINE TREE DR

2012

$964

$598

$589

N BAY ROAD

MID BEACH

PINE TREE DR

2013

$976

$786

$758

N BAY ROAD

MID BEACH

PINE TREE DR

2014

$1,396

$971

$957

N BAY ROAD

PINE TREE DR

MID BEACH


$1,957 (g 40%)

$1,463 (g 53%)

$1,267 (g 30%)

MID BEACH

PINE TREE DR


MID BEACH

MIAMI BEACH: WATERFRONT, SINGLE-FAMILY HOMES

$2,000

$1,500

$1,000

$500

$0

THE NEIGHBORHOODS

“Miami Beach, a large island with several distinct

neighborhoods, celebrated its 100-year anniversary

in 2015. It has become a world-renowned vacation

destination as well as a cultural melting pot, with

pristine beaches stretching from South Pointe Park

to Millionaire’s Row. Mid Beach particularly is home

to spectacular waterfront homes, sitting on some of

the state’s most prestigious roads.”

— Roy Benmeir, Estate Agent

THE RESIDENCES

“Waterfront residences in Miami Beach are usually

large and built for outdoor living, with pools and

boat dockage as some of their main features.

These homes retain their value well due to the

limited land supply around the Mid Beach area

and their close proximity to world-class dining and

entertainment options, making Miami Beach one

of the most desirable areas to live in Miami.”

— David Harroch, Estate Agent

Omissions due to low transaction numbers or absence of market: La Gorce Subdivision (Alton Road and La Gorce Drive), South Beach and North Beach


MID BEACH

NORTH BAY ROAD

PINE TREE DRIVE

14

5

5

2015

26

5

9

2013

32

10

4

2014

31

6

6

2012

21

10

5

2011

N BAY ROAD

2015 AVG. PRICE / SQUARE FOOT: $1,463



53% 133%

MID BEACH

LEG

ENDTOTAL MARKET:


NORTH BAY ROAD

PINE TREE DRIVE

13

Mid Beach waterfront single-family pricing saw double-digit increases,

with a 53% average increase for waterfront pricing in Miami Beach (to

$1,463/SF), a 30% increase on Pine Tree and a 40% increase on North

Bay Road; there were no transactions of waterfront single-family homes

on Alton or La Gorce Drive, as in last year. In the three submarkets with

both waterfront and non-waterfront transactions (North Bay, Pine Tree

and Mid Beach overall), the waterfront premium increased as waterfront

homes out-appreciated non-waterfront homes.

These numbers were driven by a robust performance in the luxury sector,

which reached double-digit year-over-year increase at 27% in Mid Beach

overall, 89% on Pine Tree, and 49% along North Bay Road.


NORTH BAY ROAD

N BAY ROAD

$25,750,000

g 49% FROM 2014

WITH 2 TRANSACTIONS

PINE TREE DR

$12,126,667

g 89% FROM 2014

WITH 3 TRANSACTIONS



49% N. Bay Road has the highest luxury market pricing in this report (aside from Indian Creek, which had one sale in 2015 and is, therefore, subject to volatility).

MID BEACH

$13,271,429

g 27% FROM 2014

WITH 7 TRANSACTIONS


2050 NORTH BAY ROAD, MIAMI BEACH

North Bay Road and Pine Tree Drive are subsections of Mid Beach.

14

2011

$379

$335

$319

$298

$272

LGS ALTON

MID BEACH

N BAY ROAD

LGS LA GORCE

PINE TREE DR

2012

$349

$324

$318

$308

$304

N BAY ROAD

MID BEACH

LGS LA GORCE

LGS ALTON

PINE TREE DR

2013

$445

$426

$406

$370

$293

PINE TREE DR

LGS ALTON

LGS LA GORCE

N BAY ROAD

MID BEACH

2014

$578

$522

$502

$448

$335

LGS LA GORCE

LGS ALTON

PINE TREE DR

N BAY ROAD

MID BEACH


$655 (g 25%)

$632 (g 26%)

$496 (g 11%)

$460 (h 20%)

$403 (g 20%)

LGS ALTON

N BAY ROAD

MID BEACH

LGS LA GORCE


NORTH BAYROAD

MIAMI BEACH: NON-WATERFRONT, SINGLE-FAMILY HOMES

$800

$600

$400

$200

$0

THE NEIGHBORHOODS

“Miami Beach’s wide, tree-lined roads make the

perfect setting for some of this neighborhood’s

most spectacular homes. North Bay Road and Pine

Tree Drive offer an intimate, quieter environment

next door to the vibrant energy that has made the

Beach world-famous, while La Gorce Subdivision

is home to spacious, non-waterfront residences

sitting directly on the golf course.”

— Sladja Stantic, Estate Agent

THE RESIDENCES

“Non-waterfront, single-family residences in Miami

Beach are generally considered part of the luxury

market due to their top-tier location, walkability and

coveted amenities. Their close proximity to the

beach and the Miami Beach marina makes them

a worthy alternative to waterfront homes in the

area, particularly considering the substantial price

discount that comes with a non-waterfront home.”

— Anna Sherrill, Estate Agent

Omissions due to low transaction numbers or absence of market: South Beach and North Beach


MID BEACH

NORTH BAY ROAD

PINE TREE DRIVE

LGS – LA GORCE DR.

LGS – ALTON RD.

95

12

5

3

23

2015

133

13

9

17

8

2013

122

14

12

13

12

2014

95

14

11

7

11

2012

100

6

12

7

3

2011

PINE TREE DR




26% 89%

MID BEACH

LEG

ENDTOTAL MARKET:


NORTH BAY ROAD

PINE TREE DRIVE

LA GORCE SUBDIV. – ALTON RD.

LA GORCE SUBDIV. – LA GORCE DR.

15

The Miami Beach single-family home market is concentrated in Mid

Beach, which includes the high-performing North Bay Road, Pine Tree

Drive, La Gorce Drive and Alton Road. These four roads contain homes on

the golf course as well as large, luxurious properties on the side streets,

including canalfront and bayfront homes as well as luxury inland estates.

Pricing in Mid Beach as a whole increased 11% year-over-year to $496,

with 95 homes sold. Pricing on the prestige corridors varied; Pine Tree

increased 25%, La Gorce decreased 20%, Alton increased 20%, and North

Bay Road increased by 26%. The most active luxury corridors (Alton and

North Bay) saw little change in pricing, as did Miami Beach as a whole with

an average price of $1,890,890, largely unchanged from 2014.


PINE TREEDRIVE

PINE TREE DR

$3,900,000

g 48% FROM 2014

WITH 1 TRANSACTION

N BAY ROAD

$2,365,000

NO CHANGE FROM 2014

WITH 6 TRANSACTIONS

LGS ALTON

$1,549,727

h 2% FROM 2014


LGS LA GORCE

$2,295,000

h 4% FROM 2014

WITH 1 TRANSACTION



48% Although with only one sale, Pine Tree Drive saw great price growth and is now leading the non-waterfront, single-family home category in Miami Beach.

MID BEACH

$1,890,890

h 4% FROM 2014



1200 W 63 STREET, MIAMI BEACH

North Bay Road, Pine Tree Drive and La Gorce Subdivision (Alton Road and La Gorce Drive) are subsections of Mid Beach.

16

2011

$1,747

$924

$922

$909

$653

$488

$437

N/A

KEY BISCAYNE

VENETIAN

SUNSET

BAY HARBOR

PALM/STAR/HI.

NORMANDY

LA GORCE

INDIAN CREEK

2012

$1,986

$1,278

$1,195

$967

$908

$855

$781

$352

INDIAN CREEK

LA GORCE

KEY BISCAYNE

VENETIAN

PALM/STAR/HI.

BAY HARBOR

SUNSET

NORMANDY

2013

$1,688

$1,658

$1,041

$1,029

$972

$642

$415

N/A

KEY BISCAYNE

VENETIAN

LA GORCE

BAY HARBOR

PALM/STAR/HI.

NORMANDY

SUNSET

INDIAN CREEK

2014

$2,190

$1,463

$1,419

$1,244

$1,122

$998

$720

$531

LA GORCE

VENETIAN

SUNSET

INDIAN CREEK

KEY BISCAYNE

BAY HARBOR

PALM/STAR/HI.

NORMANDY


$1,970 (h 10%)

$1,830 (g 83%)

$1,722 (g 21%)

$1,413 (g 27%)

$1,327 (h 9%)

$1,324 (g 6%)

$1,015 (g 41%)

$632 (g 19%)

SUNSET

INDIAN CREEK

PALM/STAR/HI.

KEY BISCAYNE

BAY HARBOR

VENETIAN

NORMANDY


BAY HARBORISLANDS

THE ISLANDS: WATERFRONT, SINGLE-FAMILY HOMES

$2,500

$2,000

$1,500

$1,000

$500

$0

THE NEIGHBORHOODS

“The islands are home to some of the most lavish

residences in the country. From family-friendly Key

Biscayne to Indian Creek, home of the recently

rated “most expensive street in America”, there is

no shortage of extravagant, waterfront properties.

Most islands are just a short bridge away from

the plethora of entertainment options Miami and

Miami Beach have to offer.”

— Mirce Curkoski and Albert Justo, Estate Agents

THE RESIDENCES

“Homes in the islands tend to be built with open,

bright spaces that allow the ocean and skyline

views to be the residences’ focal point. Deep-water

docking is available in most properties, which,

paired with Miami’s predominantly sunny, warm

weather, makes this city’s version of island living

ideal for the boating enthusiast who chooses to

enjoy the lifestyle year-round.”

— Alina de la Vega MacLean, Estate Agent

Omissions due to low transaction numbers or absence of market: Fisher Island


KEY BISCAYNE

PALM/STAR/HI.

VENETIAN ISLANDS

SUNSET ISLANDS

LA GORCE ISLAND

BAY HARBOR

INDIAN CREEK

NORMANDY ISLES

11

9

18

7

1

4

1

14

2015

8

11

15

12

2

4

0

21

2013

9

19

18

10

2

5

2

9

2014

16

12

17

17

2

1

3

15

2012

9

12

20

6

2

3

0

8

2011

LA GORCE

2015 AVG. PRICE / SQUARE FOOT: $1,015



41% 108%

KEY BISCAYNE

PALM/STAR/HIBISCUS

VENETIAN ISLANDS

SUNSET ISLANDS

LA GORCE ISLAND

INDIAN CREEK

BAY HARBOR ISLANDS

NORMANDY ISLES

LEG

ENDTOTAL MARKET:


17

Key Biscayne and the northern islands of Normandy, Bay Harbor and

Indian Creek saw substantial appreciation both in their total markets and

in their luxury segments. 2015 marks the second consecutive year of

double-digit price increases for several of these islands, with Bay Harbor

being the big winner with appreciation of 41%. The Venetian Islands and

Sunset Islands also saw waterfront appreciation, as did Indian Creek,

although there was only one sale there.

Sunset and Palm/Star/Hibiscus experienced luxury price decreases,

although in the latter case the lack of Star Island transactions in 2015

depressed pricing. Normandy, Bay Harbor, Key Biscayne, Indian Creek,

Venetian Islands and La Gorce Island all saw luxury pricing increases.


VENETIANISLANDS

KEY BISCAYNE

$13,658,286

g 45% FROM 2014

WITH 7 TRANSACTIONS

BAY HARBOR

$6,550,000

g 51% FROM 2014

WITH 2 TRANSACTIONS

VENETIAN

$9,218,850

g 31% FROM 2014


NORMANDY

$2,195,000

g 59% FROM 2014

WITH7 TRANSACTIONS

SUNSET

$9,146,667

h 34% FROM 2014

WITH 3 TRANSACTIONS

LA GORCE

$19,700,000

g 38% FROM 2014

WITH1 TRANSACTION

PALM/STAR/HI.

$8,075,000

h 54% FROM 2014

WITH 4 TRANSACTIONS

INDIAN CREEK

$30,000,000

g 42% FROM 2014

WITH1 TRANSACTION



31% The Venetian Islands saw more luxury transactions than any other island and are one of only four luxury markets (above) to increase in luxury home pricing.


260 CAPE FLORIDA DRIVE, KEY BISCAYNE

18

2011

$547

$532

$428

$385

$383

$256

$154

KEY BISCAYNE

PALM/STAR/HI.

LA GORCE

BAY HARBOR

SUNSET

NORMANDY

VENETIAN

2012

$612

$538

$497

$454

$413

$331

$179

KEY BISCAYNE

PALM/STAR/HI.

LA GORCE

BAY HARBOR

SUNSET

NORMANDY

VENETIAN

2013

$748

$552

$484

$469

$379

$308

$223

KEY BISCAYNE

PALM/STAR/HI.

SUNSET

BAY HARBOR

VENETIAN

NORMANDY

LA GORCE

2014

$795

$613

$611

$589

$499

$379

$247

KEY BISCAYNE

PALM/STAR/HI.

LA GORCE

BAY HARBOR

VENETIAN

NORMANDY

SUNSET


$861 (g 46%)

$857 (g 8%)

$740 (g 21%)

$692 (g 39%)

$675 (g 10%)

$520 (g 37%)

$265 (g 7%)

VENETIAN

KEY BISCAYNE

BAY HARBOR

LA GORCE

NORMANDY

PALM/STAR/HI.


SUNSET ISLANDS

THE ISLANDS: NON-WATERFRONT, SINGLE-FAMILY HOMES

$1,000

$800

$600

$400

$200

$0

THE NEIGHBORHOODS

“Although significantly more luxurious than most,

lined with towering royal palms and conveniently

located just a short distance from the dynamic

environments found in Miami and Miami Beach,

the Islands have managed to maintain that small-

community, neighbor-friendly atmosphere that’s so

difficult to find in other neighborhoods.”

— Bragi Sigurdsson, Estate Agent

THE RESIDENCES

“Non-waterfront residences in the islands are still

some of the most luxurious homes in the county

due to their coveted, exclusive location, just minutes

away from Downtown Miami and Miami Beach.

They are generally built with high-end finishes and

designed to include top-tier amenities, with private,

outdoor spaces for entertaining.”

— Adriana Faerman, Estate Agent

Omissions due to low transaction numbers or absence of market: Indian Creek and Fisher Island


KEY BISCAYNE

PALM/STAR/HI.

VENETIAN ISLANDS

SUNSET ISLANDS

LA GORCE ISLAND

NORMANDY ISLES

BAY HARBOR

48

7

10

7

1

45

7

2015

59

5

23

8

2

30

9

2013

63

2

19

7

4

26

19

2014

63

6

19

6

2

36

7

2012

63

5

14

4

5

17

8

2011

SUNSET




46% 101%


KEY BISCAYNE

PALM/STAR/HIBISCUS

VENETIAN ISLANDS

SUNSET ISLANDS

LA GORCE ISLAND

BAY HARBOR ISLANDS

NORMANDY ISLES

LEG

END

19

The Islands of Miami Beach and Key Biscayne remain exclusive and

generally sell well, especially for non-waterfront properties. Key Biscayne

performed well in 2015, with an 8% price increase. Single-family home

performance was excellent in the southern islands of Miami Beach, with

double-digit appreciation in the Venetian Islands and on Palm/Star/

Hibiscus Islands, as well as on Bay Harbor, which appreciated 37% PSF.

The Sunset Islands and La Gorce Island also saw strong appreciation.

Luxury non-waterfront pricing was more varied, level in Key Biscayne and

the Venetian Islands, increasing strongly in Bay Harbor and the Sunset

Islands, rising 78% in Palm/Star/Hibiscus and dipping in La Gorce Island,

although there was only one transaction in this submarket.


PALM, STAR ANDHIBISCUS ISLANDS

SUNSET

$3,855,583

g 42% FROM 2014

WITH3 TRANSACTIONS

VENETIAN

$2,135,000

h 3% FROM 2014

WITH 5 TRANSACTIONS

KEY BISCAYNE

$3,235,288

h 2% FROM 2014


BAY HARBOR

$1,831,333

g 34% FROM 2014

WITH 3 TRANSACTIONS

NORMANDY

$646,881

g 3% FROM 2014


PALM/STAR/HI.

$2,833,333

g 78% FROM 2014

WITH3 TRANSACTIONS



78% Palm, Star and Hibiscus Islands may not have the highest pricing, but they did see the highest increase in luxury, non-waterfront prices during 2015.

LA GORCE

$2,880,000

h 56% FROM 2014

WITH 1 TRANSACTION


200 E RIVO ALTO, VENETIAN ISLANDS

20

2011

$552

$353

$256

N/A

GOLDEN BEACH

SURFSIDE

AVENTURA

BAL HARBOUR

2012

$796

$791

$338

$330

BAL HARBOUR

GOLDEN BEACH

SURFSIDE

AVENTURA

2013

$1,287

$745

$713

$327

BAL HARBOUR

GOLDEN BEACH

SURFSIDE

AVENTURA

2014

$867

$607

$356

N/A

GOLDEN BEACH

SURFSIDE

AVENTURA

BAL HARBOUR


$1,375 (g 59%)

$635 (g 5%)

$324 (h 9%)

N/A

SURFSIDE

AVENTURA

BAL HARBOUR


SURFSIDE

MIAMI | NORTH END: WATERFRONT, SINGLE-FAMILY HOMES

$1,600

$1,200

$800

$400

$0

THE NEIGHBORHOODS

“From Bal Harbour’s elegant lifestyle to Golden

Beach’s oceanfront estates and Surfside’s laidback

atmosphere, Miami’s North End consistently sees

great demand and is currently under a significant

transformation. These neighborhoods, along with

Aventura (a city in itself) offer a convenient location

between Downtown Miami, Miami Beach and East

Fort Lauderdale, just a few miles from all three.”

— Eduard Zavulunov, Estate Agent

THE RESIDENCES

“With miles of water frontage, Miami’s North

End offers a diverse range of architectural

styles and impressive views. Residences

in these neighborhoods are available in all

price ranges, from more modest waterfront

properties under the million-dollar mark,

to lavish, multimillion dollar, oceanfront

mansions set on a private beach.”

— Samantha Elenson, Estate Agent

Omissions due to low transaction numbers or absence of market: Sunny Isles


AVENTURA

GOLDEN BEACH

SURFSIDE

BAL HARBOUR

19

4

11

0

2015

31

14

2

3

2013

25

7

7

0

2014

22

11

3

1

2012

15

16

4

0

2011

GOLDEN BEACH




5% 80%

TOTAL MARKET: AVERAGE PRICE PER SQUARE FOOT LE

GEN

D BAL HARBOURAVENTURA

SURFSIDEGOLDEN BEACH

21

There were no sales in Bal Harbour and Aventura saw a slight drop for

waterfront as opposed to non-waterfront homes in 2015, as most of its

waterfront sales last year were located on lagoons and other artificial

water features. The most informative waterfront markets were therefore

Surfside, which saw a 5% year-over-year increase among 11 sales, and

Golden Beach, which saw a 59% increase, albeit among only four sales.

Thanks to the larger size of homes, Aventura saw a luxury price bump

of 2%, even though total market pricing decreased. A significantly larger

increase, however, was realized in Golden Beach. With an average luxury

home price of $13,275,000, Golden Beach’s luxury market is roughly 15

times more expensive than Aventura’s.


GOLDEN BEACH2015 AVG. HOME PRICE: $13.3 MILLION


41%Golden Beach almost doubled both its total market pricing and its luxury market pricing in 2015 compared to the prior year.


88 BAL BAY DRIVE, BAL HARBOUR

GOLDEN BEACH

$13,275,000

g 41% FROM 2014

WITH 2 TRANSACTIONS

AVENTURA

$901,444

g 2% FROM 2014

WITH 9 TRANSACTIONS

SURFSIDE

$3,646,000

g 3% FROM 2014

WITH 5 TRANSACTIONS

22

2011

$401

$221

$208

$193

BAL HARBOUR

GOLDEN BEACH

AVENTURA

SURFSIDE

2012

$473

$298

$235

$226

BAL HARBOUR

GOLDEN BEACH

AVENTURA

SURFSIDE

2013

$812

$417

$270

$262

BAL HARBOUR

GOLDEN BEACH

SURFSIDE

AVENTURA

2014

$647

$429

$290

$273

BAL HARBOUR

GOLDEN BEACH

SURFSIDE

AVENTURA


$701 (g 8%)

$483 (g 13%)

$351 (g 21%)

$307 (g 12%)

GOLDEN BEACH

SURFSIDE

AVENTURA


BALHARBOUR

MIAMI | NORTH END: NON-WATERFRONT, SINGLE-FAMILY HOMES

$1,000

$800

$600

$400

$200

$0

THE NEIGHBORHOODS THE RESIDENCES

Omissions due to low transaction numbers or absence of market: Sunny Isles


AVENTURA

GOLDEN BEACH

SURFSIDE

BAL HARBOUR

14

9

43

3

2015

18

6

37

2

2013

14

9

57

2

2014

13

6

51

6

2012

9

7

46

9

2011

BAL HARBOUR




8% 75%

TOTAL MARKET: AVERAGE PRICE PER SQUARE FOOT LE

GEN

D BAL HARBOURAVENTURA

SURFSIDEGOLDEN BEACH

“These communities offer a refreshing blend of

city-like amenities with a small-town atmosphere.

Their selection of spacious homes coupled with

their shopping and dining options, as well as their

proximity to lively, downtown areas, make these

neighborhoods a great fit for those looking for a

balanced city/suburb lifestyle.”

— Ana Ordaz, Estate Agent

“Non-waterfront homes in Miami’s North End are

most commonly found in Surfside, the southermost

neighborhood in this section. Surfside residents

can walk to the ocean from relatively anywhere in

the community, a huge benefit for non-waterfront

home owners wanting to take advantage of their

sought-after surroundings.”

— Janine Mills, Estate Agent

23

The North End submarkets saw a mixed but generally good performance

in 2015. Surfside saw excellent performance among its single-family

homes, with 21% non-waterfront appreciation. Bal Harbour saw three

sales in 2015, with an 8% price increase PSF. Luxury performance in

Surfside was also positive, although Bal Harbour’s pricing cannot be

compared year-over-year with only one luxury sale at $2,100,000.

Non-waterfront pricing performed well in Aventura, reaching a 12% year-

over-year increase on a PSF basis. There was some weakness at the

high end in Aventura, perhaps reflecting currency fluctuations involving

the Russian ruble. Although there were only nine sales, Golden Beach

had an excellent year with 13% PSF and 68% luxury price growth.


GOLDEN BEACH2015 AVG. HOME PRICE: $3 MILLION


68% Throughout the time period analyzed in this market report, Golden Beach has managed to outperform its own numbers year after year.


21217 NE 31 PLACE, AVENTURA

GOLDEN BEACH

$3,025,000

g 68% FROM 2014

WITH 4 TRANSACTIONS

SURFSIDE

$754,550

g 14% FROM 2014


AVENTURA

$1,023,143

h 15% FROM 2014

WITH 7 TRANSACTIONS

BAL HARBOUR

$2,100,000

h 46% FROM 2014

WITH 1 TRANSACTION

24

Miami-Dade’s diverse condominium market has

remained fairly resilient to recent macroeconomic

fluctuations, particularly at the higher end. The

supply overhang from the 2007–2009 downturn

was absorbed quicker than many analysts had

expected and, indeed, Miami is once again in

a major development cycle, particularly in the

mainland urban core (Coconut Grove to Midtown/

Edgewater) and parts of Miami Beach.

Although the resale condo market did not fare as

well as single-family homes, with 10 condo market

declines and 13 markets showing appreciation,

the market overall continued to realize price

appreciation in most price segments. Despite a

mixed year for same-building sales countywide,

Miami Beach hit 12% condo appreciation overall,

with Bay Harbor Islands registering an impressive

38% appreciation rate.

Important constraints on condo market growth

going into 2016 include yield concerns for renter-

occupied investment units as well as foreign

currency exchange rates. The impressive rental

rate growth of recent years has led to an increase

in new conventional rental product that could

moderate future rent increases. However, the

conventional rental growth is in response to a

growing demand downtown, which is a strong

indicator for long-term stability.

Price drops for resale condos in the urban core

correlated with new construction in the CBD,

Coconut Grove, inland Brickell and waterfront

Edgewater, reflecting substantial new supply.

Simultaneously, fluctuations in many currencies

as compared to the USD have weakened the

buying power of foreign investors and constrained

overall pricing. The next 12 months will likely

reflect a return to a more balanced market where

buyers have more choice and buying power.

WATERFRONTCONDOS

NON-WATERFRONTCONDOS


# Sold b

PPSF b


# Sold b

PPSF b

MIAMI-DADECONDOS


TOTAL MARKET

5,676

6,806$310

4,838

10,727$105

2011

2011

6,173

6,078$479

5,561

10,578$181

2015

2015

5,319

6,715$466

5,278

10,760$173

2014

2014

4,326

7,376$412

3,681

10,956$156

2013

2013

4,314

7,284$359

2,937

10,225$130

2012

2012


# Sold Trendline b

h 11% FROM 2011


# Sold Trendline b

h 1% FROM 2011

25



$10M+ TRANSACTIONS

h

573

h

1,002

# Sold


h

986

h

965

h

1,027

h

1,141

h

866

h

1,490

h

797

h

969

h

24

h

67

# Sold


h

28

h

102

h

61

h

128

h

61

h

171

h

30

h

85

h

3

h

18

# Sold


h

7

h

35

h

10

h

46

h

8

h

64

h

5

h

23

# Sold Trendlineh

# Sold Trendlineh

# Sold Trendlineh

LUXURY MARKET

2011 2011 20112013 2013 20132012 2012 20122014 2014 20142015

IN 2015,

935OF MIAMI-DADE’S CONDO SALES


IN 2011,

600OF MIAMI-DADE’S CONDO SALES



2015 2015

19575 COLLINS AVENUE – #37, SUNNY ISLES

26

% CHANGE (YEAR-OVER-YEAR): AVG. PRICE / SQUARE FOOT g 23%% CHANGE (FROM 2011 TO 2015):

AVG. PRICE / SQUARE FOOT

FROM AN EXPERT’S PERSPECTIVE: TODAY’S MARKET CONDITIONS AND THEIR DEVELOPMENT

PERCENTAGE OF SAMPLE TRADED

AVERAGESALES PRICE

AVERAGESQUARE FOOTAGE

AVERAGE PRICEPER SQ. FOOT

g 23%from 2011

g 8%from 2012

g 18%from 2013

h 28%from 2014

9% 10% 15% 12% 11%

$620K $963K $1.07M $1.12M $852K

1,546 1,853 1,907 1,630 1,721

$401 $519 $563 $686 $495

2011 2012 2013 2014 2015

MIAMI | SOUTH END: CONDO MARKET INDEX

COCONUT GROVE | NON-WATERFRONT CONDOS

The Coconut Grove market saw an apparent price

decline, although this reflects abnormally high 2014

pricing that included a penthouse transaction at over $8

million, as well as supply growth from Park Grove and Grove

at Grand Bay, rather than true market weakness. Coconut

Grove remains a highly desirable neighborhood for young

professionals and families alike, and achieves a significant

PSF premium to any other South End submarket.

Omissions due to low transaction numbers or absence of market: Pinecrest, Palmetto Bay, CocoPlum, Gables Estates, S. Creek Lakes, P. Davis & H. Pines and Old Cutler Bay

2627 S BAYSHORE DRIVE – #3201, COCONUT GROVE

“Miami’s South End condo and townhouse market continues to be in demand. It is particularly alluring to

locals who recently downsized and those who wish to maintain their city lifestyle with the added bonus of

having access to excellent school districts. South End condos and townhomes are located in a broad and

highly desirable area, with a steady inventory and an equally steady purchase force, both for average and

luxury units. While living in Coconut Grove and Coral Gables provides entertainment, shopping and dining at a

walking distance, the Deering Bay Country Club lifestyle also remains very attractive to homebuyers.”

— Cristina Soler, Estate Agent

LEG

END

COCONUT GROVE

DEERING BAY

CORAL GABLES

27




AVERAGESALES PRICE



h 36%from 2011

h 6%from 2012

g 19%from 2013

g 18%from 2014

2% 8% 12% 6% 10%

$1.1M $1.1M $1.07 $1.35M $1.39M

2,353 3,216 3,303 3,378 2,946

$467 $343 $324 $401 $472

2011 2012 2013 2014 2015

DEERING BAY | WATERFRONT CONDOS

Straddling the Coral Gables / Palmetto Bay line, the

southernmost luxury condominium submarket in

Miami-Dade County is the gated community of Deering Bay.

Deering Bay condominiums appreciated slightly but saw

substantial PPSF increases (18%) owing to a smaller resale

unit mix relative to the year prior, although unit sizes remain

among the largest in South Florida at nearly 3,000 square

feet. Pricing per square foot has returned to 2011 levels.

COCONUT GROVE

Condo sections do not contain a “Luxury Market” page, since the product sample is already representative of the high-end market. For details on methodology, see page 5.




AVERAGESALES PRICE



g 2%from 2011

g 30%from 2012

g 7%from 2013

h 7%from 2014

6% 9% 12% 13% 10%

$244K $260K $389K $396K $367K

1,098 1,147 1,200 1,135 1,120

$222 $226 $324 $348 $328

2011 2012 2013 2014 2015

CORAL GABLES | NON-WATERFRONT CONDOS

Coral Gables condo pricing reverted to 2013 pricing

after a spike in 2014, but the Gables resale condo

market remains relatively healthy at average pricing of

$328/SF. New, infill duplex and small, attached condo end

unit prices are trading well above the average resale pricing,

contributing to new boutique luxury infill development. Coral

Gables condos earn Miami South End’s top spot for 2011 –

2015 PPSF performance improvement, at 48%.

28





AVERAGESALES PRICE



g 16%from 2011

g 7%from 2012

g 9%from 2013

g 7%from 2014

27% 8% 12% 8% 8%

$506K $799K $771K $885K $939K

1,177 1,556 1,405 1,471 1,455

$430 $513 $549 $602 $645

2011 2012 2013 2014 2015

BRICKELL: CONDO MARKET INDEX

BRICKELL | WATERFRONT CONDOS

Highly active and very much in demand, Brickell is

currently one of the most coveted condo markets

in Miami. Waterfront properties in Brickell saw roughly

constant sales volume as well as a 7% increase in pricing

to a historic high of almost $650 per square foot. Average

pricing in waterfront Brickell condos is approaching $1

million, up 6% year-over-year and 7% on a per-square-foot

basis, making it the most expensive submarket in Brickell.

Omissions due to low transaction numbers or absence of market: None

“From the start of its metamorphosis, Brickell has been dramatically changing to become the center of Miami.

As the hub of one of the country’s largest financial institution concentrations, Brickell, now more than ever, offers

the work/live/play all-in-one that Miami has been in search of. This year, most of the construction boom will slow

down, allowing the area to take its own shape while the most anticipated $1 billion, mixed-used development

Brickell City Centre opens later this year. Already hosting high-end culinary spots and hotels, nightlife and the

largest density of young professionals in the city, Brickell promises to become the hottest part of town.”

— Jonathan Garcia, Estate Agent

LEG

END BRICKELL

BRICKELL KEY

901 BRICKELL KEY DRIVE – #3401, BRICKELL KEY

29




AVERAGESALES PRICE



g 3%from 2011

g 14%from 2012

g 2%from 2013

h 3%from 2014

6% 10% 13% 10% 9%

$775K $810K $974K $997K $910K

1,607 1,629 1,680 1,676 1,571

$482 $498 $580 $595 $579

2011 2012 2013 2014 2015

BRICKELL KEY | WATERFRONT CONDOS

An intimate island only accesible through Brickell

Avenue, Brickell Key has a number of luxury condo

towers as well as some Class-A office and retail space. While

pricing per square foot dropped slightly in 2015 compared

to 2014, the $579/SF it recorded sets it at a 20% increase

from average pricing in 2011. Overall, Brickell Key remains a

highly desirable, quiet enclave just a short bridge away from

one of Miami’s most vibrant neighborhoods.





AVERAGESALES PRICE



g 5%from 2011

g 19%from 2012

g 4%from 2013

h 7%from 2014

10% 18% 14% 8% 7%

$314K $341K $414K $433K $406K

963 994 981 989 993

$326 $343 $422 $438 $409

2011 2012 2013 2014 2015

BRICKELL | NON-WATERFRONT CONDOS

Perhaps reflecting the increased competition from

new non-waterfront products like 1100 Millecento

and Nine at Mary Brickell, as well as a price ceiling imposed

by more rental-oriented buyers concerned about yield,

non-waterfront pricing in Brickell retreated 7%. As in Coconut

Grove, this drop reflects an increase in supply more than

a decrease in demand, as two towers delivered in 2015 and

two more (MyBrickell and BrickellHouse) delivered in 2014.

901 BRICKELL KEY BOULEVARD – #1104, BRICKELL KEY

30





AVERAGESALES PRICE



g 6%from 2011

g 6%from 2012

g 12%from 2013

h 9%from 2014

17% 11% 12% 11% 10%

$475K $524K $518K $587K $540K

1,177 1,224 1,139 1,134 1,143

$403 $428 $455 $518 $472

2011 2012 2013 2014 2015

DOWNTOWN MIAMI: CONDO MARKET INDEX

DOWNTOWN MIAMI | WATERFRONT CONDOS

Downtown Miami’s waterfront units lost ground in

2015. Average pricing per square foot dipped by 9%,

and about 10% of the total luxury inventory traded. These

decreases are occurring in spite of, or perhaps because of,

the wave of new condominium development in downtown,

Brickell, Edgewater and Midtown. While Downtown Miami’s

growth has been slower than most, the area’s pricing is still

17% higher than it was in 2011.


DOWNTOWN & PORT OF MIAMI FROM ONE THOUSAND MUSEUM

“Downtown has positioned itself as Miami’s “innovator”. It possesses many unique amenities such as the

Perez Art Museum, the American Airlines Arena, Bayside Marketplace and the Metromover, establishing itself

as Miami’s first true cultural hub. In the midst of it all, with breathtaking views of South Beach and Biscayne

Bay, Downtown Miami is also known as the home of some of the city’s most prolific businesses, the future,

mixed-use Miami World Center and the ultra-luxury One Thousand Museum by Zaha Hadid Architects. The

redevelopment of Flagler Street and the opening of the Patricia and Phillip Frost Museum of Science, along

with the All Aboard Florida transportation hub, will cement Downtown Miami as the place to live and invest.”

— Florian Jouin, Estate Agent

LEG

END

DOWNTOWN MIAMI

31

CULTURAL DEVELOPMENT





AVERAGESALES PRICE



g 21%from 2011

h 2%from 2012

g 5%from 2013

h 6%from 2014

10% 14% 20% 10% 10%

$512K $535K $487K $560K $534K

1,423 1,180 1,092 1,197 1,212

$359 $454 $446 $468 $440

2011 2012 2013 2014 2015

DOWNTOWN MIAMI | NON-WATERFRONT CONDOS

Downtown Miami’s non-waterfront condos mirror

its waterfront market. The retreats in the downtown

market are occurring after over 1,200 units were delivered in

Greater Downtown in 2015 (Icon Bay, Bay House, Millecento,

and Nine at Mary Brickell Village). Over 6,000 more units are

under construction according to the IRR/Miami DDA report

dated August 2015, including 773 units at Brickell City Centre

and 647 at Edgewater’s Aria on the Bay.

MICROSOFT INNOVATION CENTERFirst MIC to be set in the U.S.

MIAMI WORLD CENTERTen-Block Mega-Project

FROST MUSEUM OF SCIENCEby Grimshaw Architects

PÉREZ ART MUSEUM MIAMIby Herzog & de Meuron

32





AVERAGESALES PRICE



g 18%from 2011

g 2%from 2012

g 31%from 2013

NO CHANGE

from 2014

12% 36% 21% 15% 11%

$645K $758K $799K $1.01M $926K

1,543 1,529 1,583 1,531 1,399

$418 $495 $505 $660 $662

2011 2012 2013 2014 2015

EDGEWATER & MIDTOWN: CONDO MARKET INDEX

EDGEWATER | WATERFRONT CONDOS

Edgewater’s waterfront condo market, appealing due

to its convenient location and unobstructed views,

remained largely unchanged, with slight decreases in total

pricing and no change in pricing per square foot, although

it experienced a 58% increase when compared to its 2011

performance. Edgewater’s waterfront real estate market has

also seen a number of new condo developments, with Icon

Bay and Bay House delivering in 2015.


2020 N BAYSHORE DRIVE – #901, EDGEWATER

“Edgewater and Midtown have seen an increase in attraction in part due to the evolution of Wynwood and

The Design District, and as a result of the neighboring urban core’s rapid expansion. With the development of

Brickell and Downtown, areas like Edgewater and Midtown become more attractive to those seeking a slightly

calmer lifestyle with easy access to the hype. Edgewater still presents the best value for waterfront condos in

the area. Even as the market corrects, Edgewater and Midtown will likely maintain a healthy level of resilience

with the addition of cultural attractions unavailable in other areas. Wynwood’s growing art scene and Design

District’s grand shopping expansion are creating a lifestyle that will steadily draw a strong local audience.”

— Jesse Spencer, Estate Agent

LEG

END EDGEWATER

MIDTOWN

33




AVERAGESALES PRICE



h 3%from 2011

g 17%from 2012

h 1%from 2013

g 3%from 2014

4% 17% 23% 23% 13%

$385K $342K $419K $431K $455K

1,172 1,072 1,089 1,125 1,155

$329 $319 $385 $383 $394

2011 2012 2013 2014 2015

MIDTOWN | NON-WATERFRONT CONDOS

Midtown was the best-performing of the submarkets

north of Miami’s downtown, with a 3% increase in

pricing per square foot. This part of Miami is seeing fast

development growth, both in terms of new condominiums

and in terms of lifestyle drivers like the Miami Design

District, the Wynwood Art District, and the ongoing buildout

of the Midtown Miami development. In the five-year span

analyzed in this report, Midtown PPSF went up 20%.





AVERAGESALES PRICE



h 22%from 2011

g 18%from 2012

g 3%from 2013

g 3%from 2014

9% 10% 17% 11% 8%

$364K $310K $385K $380K $399K

1,100 1,142 1,156 1,106 1,125

$331 $272 $333 $344 $354

2011 2012 2013 2014 2015

EDGEWATER | NON-WATERFRONT CONDOS

In 2011, Edgewater’s non-waterfront condo market

rose 27% from $242/SF in 2010, only to drop 22% in

2012 and come back up the following year. Since 2013, this

submarket has stabilized, with slight increases in pricing

per square foot bringing us to $354/SF in 2015. Edgewater,

next to the Central Business District and significantly less

congested, will likely remain a well-liked residential area

among young professionals in Miami

2020 N BAYSHORE DRIVE – #PH4702, EDGEWATER

34




AVERAGESALES PRICE



h 9%from 2011

g 22%from 2012

g 11%from 2013

g 12%from 2014

10% 13% 14% 12% 8%

$2.02M $1.89M $2.37M $2.66M $3.1M

1,964 2,005 1,967 1,960 2,048

$1,029 $942 $1,204 $1,355 $1,515

2011 2012 2013 2014 2015

SOUTH BEACH | WATERFRONT CONDOS

LUXURY HIGHLIGHT: SOUTH OF FIFTH CONDOS

South Beach, with the exclusive South of Fifth area,

has remained a popular submarket, attracting local,

domestic, and international buyers alike. Pricing at sought-

after South Beach condos such as the Apogee and Murano

Grande has continued to steadily increase. Average resale

pricing for waterfront condos broke the $3 million average

price and the SoFi waterfront submarket represents the

highest average pricing per square foot at $1,200 – $2,600.


MIAMI BEACH: CONDO MARKET INDEX


“In today’s market, Miami Beach is world-famous due to its first-class, waterfront penthouse living. Year after

year, the general condo market in Miami Beach outdoes itself in terms of pricing, drawing more international

demand and generating interest in not just the residences, but the business potential as well. Due to this

potential, Miami Beach consistently sees an expansion in dining and entertainment options that, in turn, make

the area more appealing to the luxury home buyer. Of note is the South of Fifth area, an exclusive enclave

marking the southermost tip of Miami Beach, which includes seven ultra-luxury condo developments built

before the current construction cycle. These condos all experienced double-digit growth in pricing per square

foot from 2014 to 2015, reflecting continued strong demand for the area’s luxury product.”

— Daniela Bonetti, Estate Agent

Apogee

AveragePPSF

$2,578

g 11% since 2014

AveragePPSF

$2,259

g 13% since 2014

AveragePPSF

$1,877

g 14% since 2014

AveragePPSF

$1,547

g 14% since 2014

AveragePPSF

$1,273

g 14% since 2014

AveragePPSF

$1,205

g 14% since 2014

Continuum South Continuum North Murano Portofino Murano Grande Icon South Beach

AveragePPSF

$1,345

g 30% since 2014

Portofino Tower

LEG

END

SOUTH BEACH

NORTH BEACH

MID BEACH

NORTH BAY VILLAGE

35




AVERAGESALES PRICE



g 8%from 2011

g 19%from 2012

g 19%from 2013

g 7%from 2014

12% 18% 15% 9% 10%

$1.01M $1.17M $1.35M $1.53M $1.7M

1,584 1,685 1,565 1,436 1,488

$638 $695 $862 $1,066 $1,143

2011 2012 2013 2014 2015

NORTH BEACH | WATERFRONT CONDOS

North Beach averages posted still-impressive gains

of 7% per square foot and 11% overall. While not

as robust as Mid Beach and SoFi, average pricing in North

Beach at $1,143 PSF outperformed the Mid Beach average,

and also outperformed Mid Beach on average pricing due to

larger average unit sizes. New condo development has also

resumed in North Beach, with the proposal of much higher-

end condominium towers at 8701 and 6901 Collins Avenue.




AVERAGESALES PRICE



g 12%from 2011

g 18%from 2012

g 18%from 2013

h 5%from 2014

10% 10% 12% 19% 10%

$209K $240K $286K $344K $320K

1,275 1,287 1,264 1,249 1,220

$164 $186 $227 $275 $262

2011 2012 2013 2014 2015

NORTH BAY VILLAGE | WATERFRONT CONDOS

North Bay Village retreated 5% in 2015, reflecting the

lowest pricing of all waterfront condos in the county,

at $262/SF. The submarket’s waterfront average pricing is

hampered by the lack of oceanfront product relative to other

peers, but average pricing is also a reflection of the product

age and area pricing trends. The submarket also attracts

a larger share of the rental pool, which serves to moderate

pricing since buyers tend to be investment/yield driven.





AVERAGESALES PRICE



g 20%from 2011

g 12%from 2013

10% 8% 11% 11% 8%

$778K $959K $1.12M $1.19M $1.21M

1,422 1,404 1,436 1,334 1,210

$547 $683 $782 $893 $1,002

2011 2012 2013 2014 2015

MID BEACH | WATERFRONT CONDOS

The Mid Beach submarket experienced continued

appreciation as home buyers were attracted further

north by new developments such as the Edition, One and

Thompson hotels, as well as to new condominiums such as

Beach House 8. Existing Mid Beach condos saw double-digit

appreciation on pricing per square foot, reflecting the area’s

increasing desirability as average pricing on waterfront

condos exceeds $1,000 per SF average.

g 12%from 2014

g 13%from 2012

36





AVERAGESALES PRICE



g 11%from 2011

g 26%from 2012

h 11%from 2013

g 8%from 2014

7% 7% 11% 7% 7%

$1.47M $1.57M $2.12M $1.64M $2.04M

2,496 2,375 2,388 2,050 2,359

$589 $659 $887 $799 $864

2011 2012 2013 2014 2015

THE ISLANDS: CONDO MARKET INDEX

KEY BISCAYNE | WATERFRONT CONDOS

The condo market in Key Biscayne performed well,

reaching $864 per square foot — an 8% increase over

2014 numbers — and experiencing comparable sales volume

to the prior year. This particular submarket has limited new

development space owing to its many public parks, nature

reserves and spacious single-family homes, although one

new luxury development, Oceana, was delivered during the

current construction cycle.

Omissions due to low transaction numbers or absence of market: Palm/Star/Hibiscus, Venetian Islands, Sunset Islands, La Gorce Island, Indian Creek and Normandy Isles

KAI AT BAY HARBOR ISLANDS

“The Islands’ condo market is comprised of Key Biscayne, Bay Harbor Islands and Fisher Island. Key Biscayne,

a classic, family-friendly neighborhood, is always in high demand due to its robust school system and tight-knit

community. Bay Harbor Islands is undergoing a large transformation as numerous boutique developments are

being built in the area. Bay Harbor is experiencing higher demand than ever before, as waterfront condos can

be acquired at a significantly lower price than in most waterfront markets and it is just a short drive away from

Miami Beach and its surroundings. Fisher Island, the quintessential luxury condo market only accessible via

ferry, has seen nothing but price increases in the latest years and regulary records top prices per square foot.”

— Elena Bluntzer, Estate Agent

LEG

END

KEY BISCAYNE

FISHER ISLAND

BAY HARBOR ISLANDS

37






AVERAGESALES PRICE



g 12%from 2011

g 37%from 2012

h 24%from 2013

g 38%from 2014

10% 6% 9% 13% 14%

$174K $214K $316K $258K $337K

1,395 1,515 1,412 1,421 1,355

$125 $141 $224 $181 $249

2011 2012 2013 2014 2015

BAY HARBOR ISLANDS | WATERFRONT CONDOS

The condo champion of the islands is Bay Harbor,

which saw 14% of the sample trade in 2015 (the

most traded in the five years analyzed) and underwent

appreciation of 27% overall and 38% PSF, the highest in

Miami-Dade County. The majority of condominiums here

are small in size; pricing is somewhat volatile because the

sample is small and consists of a diverse mix of buildings.

Pricing per square foot increased 99% compared to 2011.


AVERAGESALES PRICE



g 11%from 2011

g 1%from 2012

g 19%from 2013

g 8%from 2014

7% 8% 10% 6% 9%

$3.57M $3.78M $3.61M $5.42M $4.67M

4,520 4,254 4,028 4,910 3,907

$789 $887 $897 $1,105 $1,195

2011 2012 2013 2014 2015

FISHER ISLAND | WATERFRONT CONDOS

Only fifteen condos sold in Fisher Island, the private

island just off the MacArthur Causeway, and those

sold at a historically high price of $1,195 per square foot on

average. Fisher Island has seen very limited development

because it is tightly planned. The exclusive community has

some of the largest units in South Florida and achieves

among the highest prices, which have been increasing year

over year without exception during the five years analyzed.

FISHER ISLAND


38






AVERAGESALES PRICE



g 6%from 2011

g 20%from 2012

g 2%from 2013

h 2%from 2014

13% 12% 11% 10% 7%

$746K $868K $1.11M $1.02M $1.05M

2,513 2,741 2,788 2,522 2,636

$297 $316 $397 $405 $399

2011 2012 2013 2014 2015

AVENTURA | WATERFRONT CONDOS

Home of the popular Aventura Mall and the Turnberry

golf resort, Aventura saw a little weakness in the

condominium market, likely reflecting competition with new

product as well as fluctuations in the Russian currency.

Total average pricing increased but pricing per square foot

declined. Total average sales pricing exceeded $1 million;

Aventura has one of the largest unit sizes in the market at

2,636 square feet on average.



AVERAGESALES PRICE



g 31%from 2011

g 44%from 2013

6% 18% 13% 25% 8%

$2.5M $3.48M $3.31M $3.4M $2.66M

2,701 2,586 2,433 1,402 1,945

$925 $1,344 $1,362 $2,419 $1,370

2011 2012 2013 2014 2015

MIAMI | NORTH END: CONDO MARKET INDEX

BAL HARBOUR | WATERFRONT CONDOS

The Bal Harbour condominium market represents

one of the two northern communities on Miami

Beach’s barrier island. After the massive sale of the St.

Regis Hotel condominiums in 2014 that created a 44% year-

over-year price per square foot increase, the condominium

resale market in Bal Harbour returned to par pricing in the

$1,300 – $1,400 PSF range. Even at par pricing, the Bal

Harbour market has grown 48% (PPSF) since 2011.

Omissions due to low transaction numbers or absence of market: Golden Beach

h 44%from 2014

g 1%from 2012

“Miami’s ‘North End’, encompassing Sunny Isles Beach, Aventura and Surfside, has seen a market shift (mid-

2015) as we move into what is now a strong buyer’s market. Condo inventory is on the rise and we see an ever-

increasing selection of high-end inventory. With new developments such as 400 Sunny Isles, Chateau Beach,

Mansions at Acqualina, Porsche Design Tower, Echo Aventura, FENDI Chateau and Surf Club Four Seasons

gaining their certificate of occupancy, we find additional resales adding to this equation. Price per square foot

is trending downward and we attribute this to the strong US dollar, along with the previously mentioned trends.

Sellers continue to get top dollar and yet many enter the market to find proper pricing ever so important.

Record-high sales are occurring with unique penthouses in contract from $15M to over $21M.”

— Ashton Coleman, Estate Agent

LEG

END

AVENTURA

SURFSIDE

BAL HARBOUR

SUNNY ISLES

39






AVERAGESALES PRICE



g 22%from 2011

h 11%from 2012

g 39%from 2013

h 6%from 2014

6% 10% 10% 8% 7%

$535K $748K $547K $1.09M $1.04M

1,575 1,711 1,385 1,692 1,711

$340 $437 $395 $647 $608

2011 2012 2013 2014 2015

SURFSIDE | WATERFRONT CONDOS

Surfside was somewhat weaker than its neighbors

Bal Harbour and Aventura in 2015, although pricing

in this neighborhood continues to exceed $1 million on

average since 2014. Existing condos in Surfside are also

facing competition from new development, including the

Four Seasons Surf Club and Fendi Château Residences. As

one of the areas experiencing the most growth from 2011 to

2015, Surfside’s pricing per square foot has increased 79%.


AVERAGESALES PRICE



g 9%from 2011

g 14%from 2012

g 16%from 2013

g 4%from 2014

11% 11% 12% 9% 7%

$1.25M $1.2M $1.43M $1.79M $1.81M

1,909 1,675 1,727 1,815 1,775

$653 $716 $830 $985 $1,019

2011 2012 2013 2014 2015

SUNNY ISLES BEACH | WATERFRONT CONDOS

Sunny Isles saw a slight turn towards smaller units in

2015, as well as pricing exceeding $1,000/SF. These

numbers do not reflect the wave of new luxury development

occurring in the area, such as the Mansions at Acqualina,

Château Beach and the billionaire-friendly Porsche Design

Tower. Although this market has been affected by fluctuations

with the Russian ruble in the past, Sunny Isles continues to

see price increases in contrast to Surfside and Aventura.

18201 COLLINS AVENUE – #TS6, SUNNY ISLES BEACH


40

Although some submarkets along the coast (and

Weston) are popular among European and Latin

American investors, Broward County tends to

have a diverse, more heavily US-based buyer pool.

As a result, Broward is better shielded against

global economic fluctuations that impact foreign

investors’ buying power.

Broward had five single-family submarkets that

saw price reversals and 23 submarket which saw

year-over-year gains. The winners outnumbered

the losers by almost five to one, even though

average appreciation trailed Miami-Dade. Unlike

Miami-Dade, Broward saw significant increases

in sales volume for both waterfront and non-

waterfront residences, in addition to the luxury

market segments ($1M to $5M, $5M to $10M).

ONE Sotheby’s International Realty’s recent sale

of a waterfront residence in Fort Lauderdale’s

Harbor Beach for over $27 million was not only

the highest sale in 2015, but the only sale above

$10M in Broward’s real estate market that year.

These statistics reflect Broward’s resilience to

overseas economic risk as well as its relative

affordability and attractiveness compared to

Miami-Dade County. Sales volume has benefited

from the substantial concentrations of suburban

new developments in Parkland in particular, as

well as infill and redevelopment in the popular

urban neighborhoods east of Interstate 95.

A number of Broward’s submarkets have become

very popular among overseas buyers, including

Weston, Hallandale Beach and Hollywood Beach.

We can expect this trend to continue throughout

2016, as Broward’s relative affordability remains

attractive. However, the core domestic markets

(the Northeast and the Midwest) will contribute

more heavily to Broward’s real estate market in

the years to come.

WATERFRONTSINGLE-FAMILY HOMES

NON-WATERFRONTSINGLE-FAMILY HOMES


# Sold b

PPSF b


# Sold b

PPSF b

BROWARDSINGLE-FAMILY HOMES


TOTAL MARKET

1,652

2,897$173

4,075

8,884$110

2011

2011

1,623

4,023$217

3,631

11,894$155

2015

2015

1,524

3,614$215

3,525

10,915$146

2014

2014

1,162

3,517$201

2,376

10,520$135

2013

2013

1,284

3,240$178

2,730

9,669$116

2012

2012

# Sold Trendline b

PPSF Trendline b

# Sold Trendline b

PPSF Trendline b

g 39% FROM 2011

g 25% FROM 2011

g 34% FROM 2011

g 41% FROM 2011

41



$10M+ TRANSACTIONS

h

272

h

555

# Sold


h

432

h

545

h

460

h

648

h

557

h

710

h

306

h

521

h

6

h

50

# Sold


h

11

h

53

h

10

h

53

h

15

h

61

h

9

h

48

h

0

h

9

# Sold


h

2

h

16

h

2

h

16

h

1

h

19

h

0

h

15

# Sold Trendlineh

# Sold Trendlineh

# Sold Trendlineh

LUXURY MARKET

2011 2011 20112013 2013 20132012 2012 20122014 2014 20142015

IN 2015,

573OF BROWARD’S SINGLE-FAMILY HOME SALES


IN 2011,

278OF BROWARD’S SINGLE-FAMILY HOME SALES



2015 2015

2900 NE 37 STREET, FORT LAUDERDALE

42

2011

$304

$298

HOLLYWOOD

HALLANDALE

2012

$355

$185

HALLANDALE

HOLLYWOOD

2013

$366

$277

HALLANDALE

HOLLYWOOD

2014

$387

$338

HALLANDALE

HOLLYWOOD

2015 (% change / 2014)

$395 (g 2%)

$373 (g 10%)

HOLLYWOOD

2015 saw a significant increase in sales volume for waterfront

homes in Hollywood, as well as strong price increases in both

metrics (10% PSF and an impressive 31% in the luxury market).

Hallandale also had a solid year of waterfront appreciation at

2% PSF in its total market and 67% at the top end.

These submarkets, as with some other coastal neighborhoods,

have seen an increase in the waterfront vs. non-waterfront

pricing gap. Waterfront pricing increased (with waterfront

luxury in particular doing very well) while inland pricing was

stagnant or even decreasing. Luxury waterfront pricing in the

two communities is now essentially equal at $1.85 million.

OVERALL MARKET INSIGHTS

BROWARD | SOUTH END: WATERFRONT, SINGLE-FAMILY HOMES

$400

$300

$200

$100

$0




HOLLYWOOD BEACH

HALLANDALE BEACH

17

34

2015

21

35

2013

14

27

2014

12

25

2012

12

22

2011

HALLANDALE

HOLLYWOOD

$1,848,750

g 31% FROM 2014

WITH 8 TRANSACTIONS

HALLANDALE

$1,847,974

g 67% FROM 2014


LEG

END



HOLLYWOOD BEACH

HALLANDALE BEACH

HOLLYWOOD BEACH

HALLANDALE BEACH

“With one of the country’s best boardwalks and

miles of pristine beaches, Hallandale Beach and

Hollywood Beach are two classic, charming beach

towns nestled between the cities of Fort Lauderdale

and Miami. Residents enjoy close proximity to both

MIA and FLL airports, the Port of Miami and Port

Everglades, providing convenient access to and

from any destination.”

— Victoria Cooney, Estate Agent

“While mostly a condo market, those looking for

a single-family home can find multimillion dollar

estates with panoramic water views or smaller

homes driving distance to the beach in Broward’s

South End. Most waterfront homes can be found

by the area’s beautiful canals, which are directly

connected to the Intracoastal for easy navigation to

neighboring communities and the Atlantic Ocean.”

— Blanca Garazi Schoonover, Estate Agent

43

2011

$208

$170

HALLANDALE

HOLLYWOOD

2012

$253

$226

HOLLYWOOD

HALLANDALE

2013

$246

$198

HALLANDALE

HOLLYWOOD

2014

$267

$219

HALLANDALE

HOLLYWOOD

2015 (% change / 2014)

$278 (g 4%)

$221 (g 1%)

HOLLYWOOD

2015 was a banner year for single-family sales in Hollywood,

with 119 inland sales vs. 84 in 2014. Pricing held steady at $221

PSF for inland homes, although luxury pricing dipped because

of a scarcity of million-dollar sales over last year. Hallandale

saw an increase in non-waterfront pricing of 4% PSF, although,

as in Hollywood, luxury pricing decreased.

Hallandale Beach and Hollywood Beach are the submarkets

closest to the Miami-Dade County line, which makes them

attractive to many international buyers who would otherwise

focus in Miami-Dade County. Currency fluctuations may play a

part in the pricing decreases.

OVERALL MARKET INSIGHTS

$400

$300

$200

$100

$0




HOLLYWOOD BEACH

HALLANDALE BEACH

119

25

2015

96

29

2013

84

23

2014

114

25

2012

84

14

2011

HALLANDALE

HALLANDALE

$1,102,104

h 42% FROM 2014


HOLLYWOOD

$587,886

h 7% FROM 2014


LEG

END



HOLLYWOOD BEACH

HALLANDALE BEACH

BROWARD | SOUTH END: NON-WATERFRONT, SINGLE-FAMILY HOMES

HOLLYWOOD BEACH HIGHLIGHTS HALLANDALE BEACH HIGHLIGHTS

“Hollywood Beach and Hallandale Beach are two

neighborhoods experiencing significant change,

with several new residential projects currently being

built or in pre-construction. These developments

will offer new amenities such as trendy restaurants

and state-of-the-art spas, and will help strengthen

the area’s identity as one of South Florida’s great,

paradisiacal destinations.”

— Alla Zavulunov, Estate Agent

“Non-waterfront single-family homes in Hollywood

and Hallandale can be found at many price points,

often more affordable than comparable homes in

northern neighbor Fort Lauderdale, or southern

neighbor Miami. With a range of different parks,

coral reefs and beachfront entertainment options,

Broward’s South End is an active yet peaceful place

to live in the heart of it all.”

— Louise Richer, Estate Agent

- Seven miles of pristine beaches- Lively, 2.5-mile boardwalk- Abundant parks and coral reefs- Multi-million-dollar estates

- Premiere parks and race tracks- Vibrant, beachfront community- Retail, dining and water sports- World-class, waterfront homes

44

2011

$733

$557

$491

$428

$377

$318

$307

FT. LAUD. BEACH

RIO VISTA

V. PARK & C. H.

SUNRISE KEY

HARBOR BEACH

CORAL RIDGE

LAS OLAS ISLES

2012

$534

$514

$463

$440

$334

$307

$200

HARBOR BEACH

CORAL RIDGE

V. PARK & C. H.

SUNRISE KEY

LAS OLAS ISLES

FT. LAUD. BEACH

RIO VISTA

2013

$835

$634

$551

$550

$490

$460

$386

HARBOR BEACH

SUNRISE KEY

FT. LAUD. BEACH

V. PARK & C. H.

RIO VISTA

CORAL RIDGE

LAS OLAS ISLES

2014

$682

$642

$567

$552

$539

$423

$413

HARBOR BEACH

LAS OLAS ISLES

FT. LAUD. BEACH

CORAL RIDGE

SUNRISE KEY

V. PARK & C. H.

RIO VISTA


$766 (g 12%)

$650 (g 15%)

$610 (g 10%)

$593 (h 8%)

$583 (g 8%)

$521 (g 26%)

$493 (g 17%)

LAS OLAS ISLES

SUNRISE KEY

V. PARK & C. H.

RIO VISTA

CORAL RIDGE

FT. LAUD. BEACH


SUNRISEKEY

EAST FORT LAUDERDALE: WATERFRONT, SINGLE-FAMILY HOMES

$1,000

$800

$600

$400

$200

$0




LAS OLAS ISLES

HARBOR BEACH

FT. LAUD. BEACH

RIO VISTA

V. PARK & C. HAMM.

CORAL RIDGE

SUNRISE KEY

52

18

11

20

6

22

3

2015

75

17

5

21

7

43

2

2013

59

19

7

19

3

44

6

2014

66

13

2

9

10

53

6

2012

69

15

2

14

8

40

3

2011

HARBOR BEACH




15% 104%

LAS OLAS ISLES

HARBOR BEACH

FT. LAUDERDALE BEACH

RIO VISTA

VICTORIA PARK & COLEE HAMMOCK

SUNRISE KEY

CORAL RIDGE / C.R. COUNTRY CLUBLE

GEN

DTOTAL MARKET: AVERAGE PRICE PER SQUARE FOOT

“East Fort Lauderdale’s many stunning waterways

strike newcomers the most. The Atlantic Ocean,

Intracoastal Waterway, New River and vast canal

network offer great opportunities for avid boaters

or those who simply appreciate the serenity of

the view. The downtown area is home to many

thriving businesses and young professionals. It’s a

truly unique setting even within Florida.”

— Mary Forman, Estate Agent

“Waterfront residences in East Fort Lauderdale

are usually spacious and built for outdoor living,

mostly set on the Intracoastal or one of the city’s

many luxury-home-lined canals. Waterfront homes

usually include high-end amenities and top-tier

finishes. In addition, a pool and boat dockage are

considered standard in this market, aptly called

‘The Venice of America’ due to its many waterways.”

— Jill L. Brown, Estate Agent

45

The single-family market saw PPSF appreciation of 8% for waterfront

homes in Las Olas Isles and 15% in Sunrise Key, although luxury pricing at

the top end did not increase in these submarkets thanks to competition

from new condominium developments. Waterfront PSF prices dipped

somewhat in Fort Lauderdale Beach but increased in Harbor Beach.

However; these trends were reversed at the high end.

Moving west of the Intracoastal, Rio Vista waterfront PPSF increased

by 10%, but luxury pricing dipped slightly, as it did in Coral Ridge. Total

sales volume in Coral Ridge suffered a 50% drop. In contrast, both PSF

and luxury pricing increased sharply in Victoria Park/Colee Hammock,

and total sales velocity doubled, albeit only to six sales.


FORT LAUDERDALEBEACH

HARBOR BEACH

$7,043,294

h 11% FROM 2014

WITH 9 TRANSACTIONS

RIO VISTA

$2,936,482

h 4% FROM 2014


FT. LAUD. BEACH

$4,036,000

g 32% FROM 2014

WITH 5 TRANSACTIONS

CORAL RIDGE

$2,384,545

h 13% FROM 2014


V. PARK & C. H.

$1,908,333

g 94% FROM 2014

WITH 3 TRANSACTIONS

SUNRISE KEY

$3,450,000

h 21% FROM 2014

WITH 1 TRANSACTION

LAS OLAS ISLES

$3,044,990

h 12% FROM 2014



32% In 2015, Fort Lauderdale Beach presented one of only two luxury home market increases in East Fort Lauderdale and the higher sales price of the two.

341 ROYAL PLAZA DRIVE, LAS OLAS ISLES



46

2011

$308

$284

$274

$259

$228

$219

LAS OLAS ISLES

V. PARK & C. H.

FT. LAUD. BEACH

CORAL RIDGE

HARBOR BEACH

RIO VISTA

2012

$327

$295

$273

$259

$253

$199

FT. LAUD. BEACH

HARBOR BEACH

LAS OLAS ISLES

CORAL RIDGE

RIO VISTA

V. PARK & C. H.

2013

$403

$391

$315

$297

$268

$201

FT. LAUD. BEACH

HARBOR BEACH

LAS OLAS ISLES

CORAL RIDGE

RIO VISTA

V. PARK & C. H.

2014

$457

$415

$341

$326

$312

$246

LAS OLAS ISLES

HARBOR BEACH

FT. LAUD. BEACH

CORAL RIDGE

RIO VISTA

V. PARK & C. H.


$462 (g 11%)

$417 (h 9%)

$360 (g 6%)

$339 (g 9%)

$329 (g 1%)

$275 (g 12%)

V. PARK & C. H.

LAS OLAS ISLES

CORAL RIDGE

RIO VISTA

HARBOR BEACH


CORAL RIDGE

EAST FORT LAUDERDALE: NON-WATERFRONT, SINGLE-FAMILY HOMES

LAS OLAS ISLES

HARBOR BEACH

FT. LAUDERDALE BEACH

RIO VISTA

VICTORIA PARK & COLEE HAMMOCK

CORAL RIDGE / C.R. COUNTRY CLUB



Omissions due to low transaction numbers or absence of market: Sunrise Key


LAS OLAS ISLES

HARBOR BEACH

FT. LAUD. BEACH

RIO VISTA

V. PARK & C. HAMM.

CORAL RIDGE

6

3

9

29

78

66

2015

1

7

12

41

120

48

2013

5

12

14

40

98

45

2014

7

7

11

41

80

54

2012

5

6

11

27

52

34

2011

FT. LAUD. BEACH




12% 26%

LEG

END

“Fort Lauderdale’s exclusive communities are not

strictly suited for waterfront property buyers. The

area is home to a marina, yacht clubs, the Coral

Ridge Country Club and famed restaurants and

boutiques, all close to the beach. This makes the

East Fort Lauderdale neighborhoods a great option

for water lovers, even in a non-waterfront home.”

— Zorka Dobreva, Estate Agent

“From Old Colonial, to Spanish Revival, Modern

and Art Deco, East Fort Lauderdale homes come

in a variety of architectural styles. Landscaping

is generally lush and tropical, with stately banyan

trees and palm trees lining streets and backyards.

Fort Lauderdale’s lively downtown area is just a

few blocks away from most of these communities.”

— Lori Novello, Estate Agent

$600

$500

$400

$300

$200

$100

$0

47

There were 3 sales in Harbor Beach and 9 sales in Fort Lauderdale Beach,

reflecting a slight year-over-year decrease. Prices increased in spite of the

decrease in sales, exceeding $330 PSF in Harbor Beach and $460 PSF in

Fort Lauderdale Beach. The market saw a pricing decrease in Las Olas

Isles thanks to increased competition from boutique condo developments.

Coral Ridge, which contains the Coral Ridge Country Club, saw strong

appreciation, although top-end prices did compress somewhat. Rio

Vista, Victoria Park and Colee Hammock are historic neighborhoods

surrounding downtown Fort Lauderdale, where PPSF has continued to

increase. Luxury pricing was varied, reflecting a smaller home size and

less of a bias towards super-luxury home sales in Rio Vista.


RIOVISTA


LAS OLAS ISLES

$1,779,167

h 13% FROM 2014

WITH 3 TRANSACTIONS

RIO VISTA

$1,262,712

g 19% FROM 2014


HARBOR BEACH

$1,600,000

g 10% FROM 2014

WITH 1 TRANSACTION V. PARK & C. H.

$874,257

g 11% FROM 2014


CORAL RIDGE

$848,370

h 13% FROM 2014


FT. LAUD. BEACH

$1,387,500

h 30%FROM 2014

WITH 4 TRANSACTIONS



19% Rio Vista, although fourth out of six in terms of luxury home pricing, increased the most out of the six compared to 2014, at 19% to reach a $1.3M average.

744 NE 16 AVENUE, FORT LAUDERDALE

48


BAYCOLONY

BROWARD | NORTH END: WATERFRONT, SINGLE-FAMILY HOMES

LAUDERDALE-BY-THE-SEA

HILLSBORO BEACH

LIGHTHOUSE POINT

THE LANDINGS

BAY COLONY

SEA RANCH LAKES


THE NEIGHBORHOODS

“Northern Broward includes a variety of intimate

communities, including gated enclaves with boat

dockage as well as resident beach access. These

properties may be lakefront, on navigable canals,

on the intracoastal or oceanfront, providing the

best of all possible options for waterfront access.

There is a small town atmosphere with world-class

dining, shopping and entertainment nearby.”

— Linda Stark, Estate Agent

THE RESIDENCES



LAUD.-BY-THE-SEA

HILLSBORO BEACH

LIGHTHOUSE POINT

THE LANDINGS

BAY COLONY

SEA RANCH LAKES

12

1

66

25

9

2

2015

20

0

59

23

8

3

2013

16

2

52

29

7

5

2014

22

0

56

18

10

6

2012

14

0

59

21

7

4

2011




42% 38%

LEG

END

“Waterfront residences in Broward’s North End are

usually very spacious, offering a variety of different

docking options and a tranquil atmosphere. Many

of these homes are located on the Intracoastal

Waterway, which boaters can navigate south to

Fort Lauderdale’s many waterfront restaurants and

lounges. These neighborhoods usually offer direct

ocean access for the boating/fishing enthusiast.”

— Albert Niels, Estate Agent

2011

$391

$379

$303

$297

$284

NO SALES

LAUD.-B.T.S.

LIGHTHOUSE PT.

BAY COLONY

HILLSBORO

THE LANDINGS

S. RANCH LAKES

2012

$336

$332

$329

$321

$294

NO SALES

BAY COLONY

LIGHTHOUSE PT.

LAUD.-B.T.S.

HILLSBORO

THE LANDINGS

S. RANCH LAKES

2013

$439

$370

$337

$325

$305

NO SALES

BAY COLONY

THE LANDINGS

LAUD.-B.T.S.

HILLSBORO

LIGHTHOUSE PT.

S. RANCH LAKES

2014

$1,401

$466

$443

$381

$369

$360

HILLSBORO

BAY COLONY

S. RANCH LAKES

THE LANDINGS

LAUD.-B.T.S.

LIGHTHOUSE PT.


$523 (g 42%)

$469 (h 15%)

$420 (g 10%)

$392 (g 9%)

$327 (h 28%)

$264 (h 81%)

S. RANCH LAKES

LAUD.-B.T.S.

HILLSBORO

LIGHTHOUSE PT.

THE LANDINGS

BAY COLONY

g$600

$500

$400

$300

$200

$100

$0

49

Sea Ranch Lakes and Lauderdale-by-the-Sea are adjacent, oceanfront

communities north of Fort Lauderdale. Waterfront prices in Lauderdale-by-

the-Sea dropped because most sales were canal-front, not Intracoastal-

front. There were two sales in Sea Ranch Lakes; these underperformed

the handful of transactions closed during 2014.

Bay Colony and The Landings are two adjacent, oceanfront communities

located just west of the Intracoastal Waterway, north of Fort Lauderdale.

Both of these neighborhoods saw strong PPSF appreciation. Only one

house (a townhouse with no ocean frontage) sold in Hillsboro Beach,

making year-over-year comparisons uninformative. Lighthouse Point

saw 10% appreciation in PPSF but a luxury decrease.


BAY COLONY


BAY COLONY

$3,400,000

g 44% FROM 2014

WITH 4 TRANSACTIONS

S. RANCH LAKES

$1,800,000

h 53% FROM 2014

WITH 1 TRANSACTION

LAUD.-B.T.S.

$2,119,167

h 24%FROM 2014

WITH 6 TRANSACTIONS

THE LANDINGS

$1,401,306

g 5% FROM 2014


HILLSBORO

$905,000

h 93% FROM 2014

WITH 1 TRANSACTION

LIGHTHOUSE PT.

$2,007,415

h 11% FROM 2014




44% In an area where pricing changes were mostly negative during 2015, Bay Colony is the definitive leader with double-digit increases throughout.

935 HILLSBORO MILE, HILLSBORO BEACH

50$199

$175

$146

LAUD.-B.T.S.

S. RANCH LAKES

LIGHTHOUSE PT.

$249

$226

$158

S. RANCH LAKES

LAUD.-B.T.S.

LIGHTHOUSE PT.

$256

$238

$181

LAUD.-B.T.S.

S. RANCH LAKES

LIGHTHOUSE PT.

$262

$227

$210

LAUD.-B.T.S.

S. RANCH LAKES

LIGHTHOUSE PT.

$304 ( g 34%)

$279 (g 6%)

$213 (g 1%)

LAUD.-B.T.S.

LIGHTHOUSE PT.



BROWARD | NORTH END: NON-WATERFRONT, SINGLE-FAMILY HOMES

$400

$300

$200

$100

$0



LAUD.-BY-THE-SEA

LIGHTHOUSE POINT

SEA RANCH LAKES

23

64

7

2015

21

69

3

2013

26

54

2

2014

12

58

9

2012

12

48

2

2011

S. RANCH LAKES




6% 40%



LIGHTHOUSE POINT

SEA RANCH LAKES

LEG

END

“The North End is home to charming, small-town,

slow-paced communities designed for easy living.

From Lighthouse Point’s jogger-friendly parks and

13 miles of bike paths to Lauderdale-by-the-Sea’s

900-foot pier, the North End neighborhoods offer

that attractive beach-town lifestyle minutes away

from the amenity-filled city of Fort Lauderdale.”

— Ellen Taracido, Estate Agent

“Within Broward’s North End, real estate options are

diverse enough to meet any budget, from luxury

communities with single-family homes to towering

condominiums with first-class amenities. The small-

town living characterizing these neighborhoods

offers residents a peaceful atmosphere without the

fear of overdevelopment.”

— Melanie and David Schrand, Estate Agents

2011 2012 2013 2014 2015 (% change from 2014)

Omissions due to low transaction numbers or absence of market: Hillsboro Beach, The Landings and Bay Colony

51

Sea Ranch Lakes and Lauderdale-by-the-Sea, a charming beach village

nicknamed “the Shore Diving Capital of Florida” because of its unique

snorkel trail, are adjacent communities north of Fort Lauderdale. Non-

waterfront pricing increased in Lauderdale-by-the-Sea by 6% in its

total non-waterfront, single-family home market and 21% in the luxury

segment. In contrast to 2014, with only two non-waterfront sales, seven

non-waterfront homes sold in Sea Ranch Lakes in 2015, at an average

price per square foot of $304.

Lighthouse Point saw modest total non-waterfront market appreciation

at 1% in pricing per square foot in 2015, but a consolidation of top-end

pricing, continuing the trend seen during 2014.

LUXURY MARKET:NEIGHBORHOOD TO WATCH

SEA RANCHLAKES2015 AVG. HOME PRICE: $1.1M


LIGHTHOUSE POINT


16%

S. RANCH LAKES

$1,100,000

g 16% FROM 2014

WITH 3 TRANSACTIONS

LIGHTHOUSE PT.

$518,227

h 17% FROM 2014


LAUD.-B.T.S.

$757,500

g 21% FROM 2014


Sea Ranch Lakes luxury home pricing was 45% higher than Lauderdale-by-the-Sea’s and 112% higher than Lighthouse Point’s in 2015.

52

2011

$178

$165

$146

$121

$89

SW RANCHES

SUNRISE

WESTON

PARKLAND

PLANTATION

2012

$176

$165

$149

$121

$92

SW RANCHES

SUNRISE

WESTON

PARKLAND

PLANTATION

2013

$207

$188

$158

$138

$109

SW RANCHES

SUNRISE

WESTON

PARKLAND

PLANTATION

2014

$200

$194

$171

$151

$125

SW RANCHES

SUNRISE

WESTON

PARKLAND

PLANTATION


$238 (g 19%)

$196 (g 1%)

$185 (g 8%)

$163 (g 8%)

$135 (g 8%)

SUNRISE

WESTON

PARKLAND

PLANTATION


SOUTHWEST RANCHES

WESTERN SUBURBS: NON-WATERFRONT, SINGLE-FAMILY HOMES

$300

$200

$100

$0

THE NEIGHBORHOODS

“The western cities of Broward boast five of the top

10 wealthiest zip codes in South Florida. They offer

meticulously planned, affluent family communities,

characterized by wide, tree-lined streets with gated

communities, excellent schools, recreation areas,

lakes, restaurants, country clubs, golf courses and

equestrian lifestyles. Only minutes to international

airports, shopping and white-sand beaches.”

— Eileen Kedersha, Broker Associate

THE RESIDENCES



SW RANCHES

SUNRISE

PLANTATION

PARKLAND

WESTON

109

767

913

468

834

2015

105

700

915

279

857

2013

92

792

863

250

823

2014

104

699

816

230

815

2012

105

661

644

196

705

2011

SW RANCHES




19% 34%

SOUTHWEST RANCHES

LEG

ENDTOTAL MARKET:

AVERAGE PRICE PER SQUARE FOOTSUNRISE

PLANTATION

WESTON

PARKLAND

“Set along the edge of Everglades National Park are

family-oriented residences with a broad spectrum

of architectural styles without space constraints.

French-Colonial styled estates in peaceful, equestrian

communities such as Southwest Ranches and ultra-

contemporary residences being built in Plantation

and Weston provide you ample room to entertain

and enjoy exceptional quality of life.”

— Miguel Espinoza, Estate Agent

53

Weston and Southwest Ranches both saw continued price increases

at 1% year-over-year in Weston and 19% year-over-year in Southwest

Ranches, to a new high of $238. Since Weston is a popular destination

for Venezuelan nationals, appreciation was likely constrained by the

weakening Venezuelan currency. Plantation and Sunrise saw healthy

total market appreciation reaching 8% PSF year-over-year, combined

with a retrenchment of luxury pricing in Plantation.

Nestled against Boca Raton, Parkland has an average price of $185

PSF, a discount to Weston or Southwest Ranches. There was a record

sales velocity of 468 sales, nearly double that in the previous year, which

reflects the new construction in the northern part of the city.


PARKLAND

SW RANCHES

$1,362,093

h 18% FROM 2014


PARKLAND

$819,303

g 4% FROM 2014


SUNRISE

$283,601

g 8% FROM 2014


WESTON

$696,128

h 15% FROM 2014


2015 AVG. HOME PRICE: $819K


4%Parkland’s communities are increasingly popular among young families due to their highly rated school system.

PLANTATION

$523,053

h 13% FROM 2014



7352 STONEGATE BOULEVARD, PARKLAND

54

Unlike Miami-Dade County, Broward County is

predominantly dependent on the strength of the

domestic economy. The US economy has shown

signs of a continued, robust expansion that is

manifesting in job and wage growth and planned

retirement. These factors are highly promising for

residential real estate at all price ranges.

Broward County’s luxury condominium market is

significantly concentrated in two locations: Fort

Lauderdale (downtown and the beaches) and the

Hollywood/Hallandale area. Hallandale Beach

has proven to be attractive to overseas buyers as

an alternative to Miami-Dade County’s oceanfront

submarkets. Outside of these neighborhoods,

top-tier condominium product is very rare and is

scattered. Most new luxury condo development

is also located within these two clusters.

Broward County’s resale condominium market

does not encounter the same delivery pipeline

as Miami’s resale condo market, so prices held

steady with nominal change. With the delivery

of the Margaritaville Hotel in Hollywood Beach

and a continued pricing discount over other

waterfront condo markets in South Florida, the

East Fort Lauderdale, Hollywood Beach and

Hallandale Beach condo inventory, currently set

at approximately $450/SF – $600/SF, remains an

attractive real estate investment.

Broward County’s condominium market is stable

and has reached a state of equilibrium. Its total

condo market performance (waterfront and non-

waterfront) is encouraging, as overall pricing per

square foot is up 53% compared to 2011. Both

pricing and transaction volume have remained

positive, with increased sales activity meaning

that waterfront condo sales volume in Broward

(6,420 units) surpassed that of Miami-Dade

County (6,078 units) in 2015.

WATERFRONTCONDOS

NON-WATERFRONTCONDOS


# Sold b

PPSF b


# Sold b

PPSF b

BROWARDCONDOS


TOTAL MARKET

3,326

6,074$144

3,901

9,797$71

2011

2011

3,229

6,420$207

4,298

9,823$123

2015

2015

3,021

6,252$197

4,006

9,540$116

2014

2014

2,478

6,337$182

2,903

9,606$102

2013

2013

2,576

6,007$160

2,801

9,387$84

2012

2012

# Sold Trendline b g 6% FROM 2011


# Sold Trendline b NO CHANGE FROM 2011

PPSF Trendline b

g 73% FROM 2011

55



h

75

h

211

# Sold


h

158

h

198

h

192

h

228

h

224

h

284

h

118

h

198

h

0

h

4

# Sold


h

0

h

3

h

0

h

4

h

1

h

9

h

0

h

3

# Sold Trendlineh

LUXURY MARKET

2011 20112013 20132012 20122014 20142015

IN 2015,

225OF BROWARD’S CONDO SALES


IN 2011,

75OF BROWARD’S CONDO SALES



2015

2200 S OCEAN LANE – #2809-0, FORT LAUDERDALE

$10M+ TRANSACTIONS

h

0

h

0

# Sold


h

0

h

1

h

1

h

2

h

0

h

1

h

0

h

0

2011 20132012 2014 2015

56


AVERAGESALES PRICE



% CHANGE (YEAR-OVER-YEAR): AVG. PRICE / SQUARE FOOT


g 12%from 2011

h 3%from 2012

g 10%from 2013

g 1%from 2014

g 22%

g 45%

21% 18% 14% 9% 12%

$1.2M $1.5M $1.31M $1.4M $1.41M

2,742 2,959 2,680 2,575 2,588

$447 $505 $489 $543 $546

2011 2012 2013 2014 2015

HOLLYWOOD BEACH | WATERFRONT CONDOS

Hollywood prices increased slightly (1% both in total

and PSF), but the transaction volume of 76 sales

was a substantial increase from 2014. As with Hallandale,

Hollywood has seen new development interest and a large

contingent of overseas buyers in properties like the Costa

Hollywood condo-hotel. Hollywood remains more expensive

than Hallandale, both by PPSF and by total pricing. Both

markets saw brisk sales exceeding 12% of total inventory.


“When Shopping for a luxury waterfront condo in South Florida, you can look from South Beach to Palm Beach,

but the best value currently available is in Hollywood Beach, Hallandale Beach and Fort Lauderdale. All three

areas, including the vibrant Las Olas Boulevard, have the best pricing per square foot, the best pricing for new

construction developments and some of the best deals in the market. All three neighborhoods have different

lifestyles to offer, from Hollywood and Hallandale’s laidback beach living to Downtown Fort Lauderdale’s

small-city atmosphere filled with young professionals. However, from the beautiful beaches to the boating

lifestyle, the first-class dining, the top golf courses and so much more that these neighborhoods all have in

common, anyone can live their waterfront dream in these condo markets.”

— Susan Rindley, Estate Agent


AVERAGESALES PRICE



g 14%from 2011

g 4%from 2013

11% 11% 15% 12% 12%

$492K $557K $705K $730K $670K

1,610 1,573 1,626 1,613 1,518

$305 $354 $434 $453 $441

2011 2012 2013 2014 2015

BROWARD: CONDO MARKET INDEX

HALLANDALE BEACH | WATERFRONT CONDOS

Hallandale Beach, which borders Miami-Dade, saw

stable overall performance, partially attributed to

international buyers lured by new condos such as Beachwalk

and Hyde Beach, that have positioned themselves as a more

affordable alternative to Sunny Isles and North Beach. Its

condo pricing was down slightly in 2015 and transaction

volume remained stable. Comparing 2011 to 2015, Hallandale

has seen the highest PPSF increase for condos in Broward.

Omissions due to low transaction numbers or absence of market: North End and Western Suburbs

h 2%from 2014

g 18%from 2012

% CHANGE (FROM 2011 TO 2015): AVG. PRICE / SQUARE FOOT


LEG

END

HOLLYWOOD BEACH

LAS OLAS

HALLANDALE BEACH

EAST FT. LAUDERDALE

57



g 40%

g 35%




AVERAGESALES PRICE



g 9%from 2011

g 10%from 2012

g 12%from 2013

g 1%from 2014

7% 12% 16% 16% 17%

$778K $907K $941K $1.1M $1.02M

2,329 2,483 2,318 2,381 2,182

$334 $365 $406 $462 $466

2011 2012 2013 2014 2015

LAS OLAS | WATERFRONT CONDOS

Condo prices along Las Olas improved modestly per

square foot, but total pricing decreased slightly as

smaller units sold. This submarket is seeing a relatively high

amount of new development, mostly in boutique buildings

with less than 100 units and, in many cases, less than ten.

These new developments will compete at the higher end

with existing inventory. Las Olas scored #1 in South Florida

in terms of sales velocity, with 17% of its units trading in 2015.


AVERAGESALES PRICE



g 5%from 2011

g 8%from 2012

g 11%from 2013

g 6%from 2014

6% 10% 12% 9% 12%

$846K $929K $1.09M $1.1M $1.26M

2,142 2,243 2,409 2,171 2,360

$395 $414 $452 $506 $534

2011 2012 2013 2014 2015

EAST FORT LAUDERDALE | WATERFRONT CONDOS

Significantly better performance than in Las Olas

was observed in other Fort Lauderdale submarkets

not directly on the Las Olas corridor. Sales pricing here

increased 15% and 6% per square foot as a number of large

residences sold. Its year-over-year performance hasn’t

missed a beat since 2011, with prices increasing every year.

The Fort Lauderdale and Las Olas condo markets have among

the highest sales velocity of any market in South Florida.

3055 HARBOR DRIVE – #1903, FORT LAUDERDALE


58

GEOGRAPHIC BREAKDOWN:

The urban corridor formed by Brickell, Downtown,

Edgewater and Midtown has led the ranking of

new inventory hitting the market between 2016

and 2018, with 9,050 units (56%) of the active

projects in the market. In the Beaches, the most

active markets are Sunny Isles (1,711 units) and

Hollywood Beach (1,080 units), scheduled to be

completed in the same period. Their expansion

path in the beach is clearly towards the north

due to the scarcity of development sites in South

Beach, Miami Beach, Surfside and Bal Harbour.

GRAPH DELIVERY PROFILE:

In the new cycle (2010 – 2020), we have seen 39

luxury projects completed, totaling 5,114 units,

with a high concentration between 2013 and 2015.

In this segment, approximately 90% were sold by

December 2015. There are another 82 projects in

the pre-construction stage or under construction

with 16,215 units to be delivered between 2016 and

2019, of which 67% is already sold. The remaining

inventory is very controllable, with only 5,197 units

for sale. Only 26 projects are in pre-construction,

reflecting the underlying market strength.

The strengthening of the US dollar has triggered

a considerable devaluation of several currencies

in some key South Florida feeder markets such

as Canada, Brazil, Mexico, Colombia, Venezuela

and the European continent. This causes lower

absorption from international markets, which

is partially compensated by the strength of the

domestic market, especially the Northeast. This

trend has led some developers to postpone the

launch of planned projects, allowing the market

to better absorb the inventory.

9,050 units representing

56%of the active market

1,711 units

1,080 units

2010 – 2020:DEVELOPMENT CYCLE


DOWNTOWN MIAMI URBAN CORRIDOR

SUNNY ISLES

HOLLYWOOD BEACH

TOP NEW-DEVELOPMENT MARKETS2016 – 2018 DELIVERY PROJECTION

59

AVENTURA

BAL HARBOUR

BAY HARBOR

BRICKELL

WEST BRICKELL

COCONUT GROVE

DORAL

DOWNTOWN MIAMI

EDGEWATER

FORT LAUDERDALE

HOLLYWOOD

HOLLYWOOD BEACH

MIAMI BEACH

MIAMI RIVER

MIDTOWN

MIMO DISTRICT

SOUTH BEACH

SUNNY ISLES

SURFSIDE

SUNRISE

TOTAL

AREA TOTAL UNITS UNITS SOLD % SOLD% TOTAL UNITS

525

299

251

3,900

364

376

771

905

2,908

598

247

1,080

230

400

973

105

31

1,711

278

263

16,215

342

187

183

3,148

306

331

394

547

2,172

299

65

738

108

20

578

N/A

16

1,092

180

132

10,838

3.2%

1.8%

1.5%

24.1%

2.2%

2.3%

4.8%

5.6%

17.9%

3.7%

1.5%

6.7%

1.4%

2.5%

6%

0.6%

0.2%

10.6%

1.7%

1.6%

100%

65%

63%

73%

81%

84%

88%

51%

60%

75%

50%

26%

68%

47%

5%

59%

N/A

52%

64%

65%

50%

67% (AVG.)

ACTIVE DEVELOPMENTSBY AREA

ESTIMATED DELIVERY PROFILEUNITS PER QUARTER

3,500

3,000

2,500

2,000

1,500

1,000

500

0

Q1 ‘16

1,343

Q1 ‘17

966

Q1 ‘18

1,422

Q1 ‘19

0

Q2 ‘16

3,000

Q2 ‘17

1,262

Q2 ‘18

1,440

Q2 ‘19

264

Q3 ‘16

986

Q3 ‘17

1,529

Q3 ‘18

500

Q3 ‘19

0

Q4 ‘16

1,337

Q4 ‘17

1,909

Q4 ‘18

257

Q4 ‘19

0

Information based on projects’ sales centers’ information, news articles, press announcements, phone surveys, online search, among other sources. Data gathered January, 2016. Information is deemed accurate but not guaranteed. Availability and prices are subject to change without notice.

COMPLETED DEVELOPMENTS

UNDER CONSTRUCTION & PRE-CONSTRUCTION DEVELOPMENTSh

Information based on projects’ sales centers’ information, news articles, press announcements, phone surveys, online search, among other sources.

PROJECT NAME LOCATION DEVELOPER ARCHITECT COMPLETION AVG. $/SF # UNITS # SOLD % SOLD

RIVA Bay Harbor Islands Epelboim Dev. Group Sam Robin Mar 2013 $475 25 22 88%

MY BRICKELL Brickell Related Group Arquitectonica Sep 2013 $285 188 188 100%

BELLINI Aventura Martin Margulies CFE Architects Oct 2013 $650 70 63 90%

MARINA PALMS TOWER I Aventura Plaza Group / DevStar Slattery & Associates Jul 2015 $440 234 232 99%

APOGEE BEACH Hollywood Beach Related Group Carlos Ott Oct 2013 $585 49 49 100%

OCEAN SEVEN Miami Beach PMG Shapiro & Associates Dec 2013 $1,400 7 3 43%

OCEANA KB Key Biscayne Consultatio Arquitectonica Mar 2014 $1,250 142 133 94%

HARBOUR PARK Bay Harbor Islands ART+TEC Dev. / HOGG N/A Jul 2014 $350 20 18 90%

CLUB AT BAY HARBOR Bay Harbor Islands BH US Investments Franquel Benayon Sep 2014 $375 42 37 88%

MILLECENTO Brickell Related Group Carlos Ott Sep 2014 $390 384 384 100%

400 SUNNY ISLES Brickell Key Interntational Chad Oppenheim Sep 2014 $650 230 230 100%

PELORO Miami Beach SMG Management Luis Revuelta Dec 2014 $450 114 114 100%

FAENA HOUSE Miami Beach Faena Foster & Partners Dec 2014 $2,800 47 47 100%

EDITION Miami Beach Ian Schrager John Pawson Nov 2014 $2,400 26 21 81%

1 HOTEL & HOMES Miami Beach Le Frak / Starwood HKS - Kobi Karp Sep 2015 $1,850 163 133 82%

PALAU South Beach SMG Management Kobi Karp Nov 2014 $775 45 45 100%

MANSIONS AT AQUALINA Sunny Isles The Trump Group Cohen Freedman Encinosa Dec 2014 $1,400 79 79 100%

PASEO 5252 Doral Codina Sieger-Suarez Dec 2015 $335 203 203 100%

CHÂTEAU BEACH Sunny Isles Château Group Kobi Karp Dec 2014 $1,100 81 72 89%

ECHO Aventura PMG (NY) Carlos Ott Mar 2015 $575 190 171 90%

MERRICK MANOR Coral Gables The Astor Companies Behar Font & Associates Feb 2015 $411 170 164 96%

TERRAZAS Miami River Related / Ladder Capital Shapiro & Associates Jul 2012 $325 324 215 66%

BEACH WALK Hallandale Beach Related Group CFE Architects Jan 2015 $375 300 290 97%

101 KEY BISCAYNE Key Biscayne Eric Soulavy / Oscar Segall Gabriel Lopez Mar 2015 $950 11 10 91%

IRIS ON THE BAY Normandy Shores Braddock / Spear Group Beilinson Gomez Architects Jan 2015 $460 43 43 100%

GLASS South Beach Terra Group Rene Gonzalez Mar 2015 $2,300 10 10 100%

BALTUS HOUSE Edgewater Related Group Cohen Freedman Encinosa Jun 2015 $470 167 167 100%

BAY HOUSE Edgewater Melo Group Melo Architecture Dec 2015 $465 175 175 100%

ADAGIO ON THE BAY Ft. Lauderdale Grupo Alco Garcia Stromberg Apr 2015 $527 12 12 100%

ONE OCEAN South Beach Related Group Enrique Norten Jun 2015 $1,650 50 50 100%

321 OCEAN South Beach Arditi Enrique Norten Apr 2015 $1,600 21 20 95%

OCEAN Ft. Lauderdale Orchid Hotel LLC Garcia Stromberg Feb 2015 $850 298 12 4%

NINE Brickell LYND / ST Capital Behar Font & Associates May 2015 $520 390 390 100%

ICON BAY Edgewater Related Group Arquitectonica Jun 2015 $475 300 300 100%

VELA VISTA Ft. Lauderdale Oak Construction Tuthill Architecture Oct 2015 $500 10 9 90%

REGALIA Sunny Isles Regalia Beach Dev. Arquitectonica Jan 2015 $1,800 39 36 92%

MAREA South Beach Related Group Sieger-Suarez Nov 2015 $1,600 32 30 94%

1215 WEST South Beach Domus Group RE Chisholm Architects Dec 2015 $725 48 40 83%

BRICKELL HOUSE Brickell Newgard Dev. Group Sieger-Suarez Dec 2015 $315 375 375 100%

TOTAL $894 5,114 4,592 90% (Avg.)

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

11.

12.

13.

14.

15.

16.

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18.

19.

20.

21.

22.

23.

24.

25.

26.

27.

28.

29.

30.

31.

32.

33.34.

35.

36.

37.

38.

39.

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8.

9.

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11.

12.

13.

14.

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16.

17.


AVENTURA PARK SQUARE Aventura Integra Zyscovich Dec 2017 $550 131 60 46%

MARINA PALMS TOWER II Aventura Plaza Group & DevStar Slattery and Associates Jun 2016 $440 234 202 86%

PRIVÉ Aventura BH3 Sieger-Suarez Dec 2016 $825 160 80 50%

CHÂTEAU OCEAN Bal Harbour Groskopf Arquitectonica Aug 2016 $1,400 60 10 17%

OCEANA BAL HARBOR Bal Harbour Consultatio Arquitectonica Jun 2016 $1,600 239 177 74%

IVORY Bay Harbor Islands Bricko BMA & Frankel Benayoun Jun 2016 $700 41 30 73%

BIJOU Bay Harbor Islands Ability by Acierto Luis Revuelta Oct 2017 $725 41 16 39%

PALM VILLAS Bay Harbor Islands Estudio 18 Shapiro & Associates Aug 2017 $400 14 0 0%

BAY BREEZE Bay Harbor Islands ART+TEC Development N/A Feb 2016 $435 17 10 59%

KAI RESIDENCES Bay Harbor Islands Estudio 18 Arquitectonica Apr 2016 $650 57 47 82%

O RESIDENCES Bay Harbor Islands S2 Developers / BH-LK Inv. Charles Benson Sep 2017 $750 41 41 100%

SERENO Bay Harbor Islands Integra Corwill Architects Jan 2017 $625 40 39 98%

FLATIRON Brickell Ugo Colombo / Capital Group Luis Revuelta May 2018 $650 548 250 46%

BOND Brickell Rilea Group Nichols Brosch Wurst Wolfe Jun 2016 $650 328 310 95%

ECHO BRICKEL Brickell Developer Carlos Ott Jun 2017 $1,100 180 167 93%

1010 BRICKELL Brickell Key International Sieger-Suarez Aug 2016 $650 387 375 97%

SLS RESIDENCES Brickell Related Group Arquitectonica Jun 2016 $550 453 453 100%

UNDER CONSTRUCTION & PRE-CONSTRUCTION DEVELOPMENTS (CONTINUED)

Data gathered January, 2016. Information is deemed accurate but not guaranteed. Availability and prices are subject to change without notice.


BRICKELL HEIGHTS Brickell Related Group Arquitectonica Apr 2017 $643 358 330 92%

SLS LUX Brickell Related Group Arquitectonica Aug 2017 $703 534 508 95%

BR. CITY CENTRE / REACH Brickell Swire Arquitectonica Mar 2016 $650 390 330 85%

BR. CITY CENTRE / RISE Brickell Swire Arquitectonica May 2016 $675 390 157 40%

BRICKELL HEIGHTS II (BH2) Brickell Related Group Arquitectonica Feb 2017 $643 332 268 81%

LE PARC AT BRICKELL Brickell West AXA / Strategic Prop. Group Luis Revuelta & Archiplan Mar 2016 $540 128 116 91%

BRICKELL TEN Brickell West Waterstone Capital / IB Corp. BC Architects Jan 2016 $425 155 127 82%

CASSA BRICKELL Brickell West TSG Paragon Carlos Ponce de Leon Jun 2016 $480 81 63 78%

GROVE AT GRAND BAY Coconut Grove Terra Group Bjarke Ingels Apr 2016 $875 96 96 100%

ONE PARK GROVE Coconut Grove Related Group / Terra Group Rem Koolhaas Jun 2018 $1,600 54 17 31%

TWO PARK GROVE Coconut Grove Related Group / Terra Group Rem Koolhaas Aug 2017 $1,200 72 70 97%

PARK GROVE CLUB RES. Coconut Grove Related Group / Terra Group Rem Koolhaas Aug 2017 $900 154 148 96%

PASEO 5300 Doral Codina Sieger-Suarez Feb 2016 $360 219 100 46%

MIDTOWN DORAL PHASE I Doral Optimus PPK Architects Jun 2016 $325 306 255 83%

MANSIONS AT DORAL Doral Century / JC Dev. PPK Architects Mar 2017 $375 66 39 59%

MODERN Doral Terra Group PPK Architects Jan 2018 $275 320 164 51%

PARAMOUNT DOWNTOWN Downtown Royal Palm Cies. (D. Kodsi) Elkus Manfredi Jan 2018 $675 470 187 40%

CENTRO Downtown Newgard Sieger-Suarez May 2016 $415 352 320 91%

ONE THOUSAND MUSEUM Downtown Gregg Covin / Louis Birdman Zaha Hadid Jun 2018 $1,350 83 40 48%

ELYSEE Edgewater Two Roads Developers Arquitectonica Sep 2018 $750 100 30 30%

GRAN PARAISO Edgewater Related Group Arquitectonica Dec 2017 $750 317 205 65%

BENTLEY RES. & HOTEL Edgewater Heafey Group Kobi Karp Mar 2018 $650 242 75 31%

CRIMSON Edgewater McKafka IDEA Architects Mar 2016 $600 90 66 73%

PARAISO BAY TI Edgewater Related Group Arquitectonica Nov 2016 $575 360 360 100%

BISCAYNE BEACH Edgewater East View Dev. & GTIS WHLC Arch. / BC Arch. Nov 2016 $700 399 393 98%

ARIA ON THE BAY Edgewater Melo Group Arquitectonica Dec 2017 $500 647 342 53%

ONE PARAISO Edgewater Related Group Arquitectonica Sep 2017 $775 279 278 100%

PARAISO BAY VIEW Edgewater Related Group Arquitectonica Sep 2017 $550 388 350 90%

26 EDGEWATER Edgewater Stripey Real Estate Dev. Mods Architects Jan 2017 $473 86 73 85%

AUBERGE / SOUTH TOWER Ft. Lauderdale Fortune Intl. / Related Group Nichols Brosch Wurst Wolfe Nov 2017 $1,100 114 16 14%

THE GALE RESIDENCES Ft. Lauderdale Newgard Garcia Stromberg Apr 2017 $625 124 71 57%

AQUABLU Ft. Lauderdale OceanLand Investments Borges + Associates Sep 2017 $600 35 19 54%

THE WAVE IN BAY SHORE Ft. Lauderdale Oaktree Management LTD A.S. Bengochea Architects Oct 2017 $500 18 7 39%

FOUR SEASONS Ft. Lauderdale Fort Partners Kobi Karp Nov 2018 $1,300 42 6 14%

AUBERGE / NORTH TOWER Ft. Lauderdale Fortune Intl. / Related Group Nichols Brosch Wurst Wolfe Nov 2017 $1,100 70 53 76%

RIVA FT LAUDERDALE Ft. Lauderdale Premier Developers FSMY Mar 2017 $525 100 60 60%

PARAMOUNT FT LAUDERDALE Ft. Lauderdale Falcone Group Luis Revuelta Jan 2017 $850 95 67 71%

H3 Hollywood FINKA Kobi Karp Jan 2017 $250 247 65 26%

COSTA HOLLYWOOD Hollywood Beach Liberty Sites (M. Bensusan) Hamed Rodriguez Jun 2016 $500 307 173 56%

HYDE BEACH HOUSE Hollywood Beach Related Group / Key Intl. CFE Architects Apr 2018 $600 342 155 45%

SAGE BEACH Hollywood Beach PMG (NY) / TDG Florida Carlos Ott Jan 2016 $730 24 20 83%

HYDE BEACH Hollywood Beach Related Group / Fortune Cohen Freedman Encinosa Jul 2016 $650 407 390 96%

RITZ-CARLTON RESIDENCES Miami Beach Lionheart Capital / Elliott Lissoni Dec 2016 $1,250 126 67 53%

THE SHORE CLUB / FASANO Miami Beach HFZ Capital Isay Weinfeld Nov 2017 $2,300 75 22 29%

L’ATELIER Miami Beach SMG Manag. / W Capital Enzo Enea Dec 2017 $1,400 21 11 52%

BEACH HOUSE 8 Miami Beach Moravito Properties Arquitectonica Apr 2016 $1,700 8 8 100%

ONE RIVER POINT Miami River Kar Properties Rafael Vignoli Sep 2018 $800 400 20 5%

HYDE MIDTOWN Midtown Related Group / Dezer Arquitectonica Mar 2018 $550 460 300 65%

CANVAS Midtown NRI Investments CFE Architects May 2017 $450 513 278 54%

BOULEVARD 57 MiMo District Unitas Developments Sieger-Suarez Apr 2018 $650 105 0 0%

THREE HUNDRED COLLINS South Beach JMH Development Thomas Juul-Hansen Jun 2017 $1,400 19 11 58%

LOUVER HOUSE South Beach Mast Capital Rene Gonzalez Jul 2017 $1,400 12 5 42%

ESTATES AT AQUALINA Sunny Isles The Trump Group Rafael Portuondo Jun 2019 $1,550 264 81 31%

AURORA Sunny Isles Verzasca Group Luis Revuelta Dec 2018 $680 61 12 20%

ARMANI CASA Sunny Isles Gil Dezer / Related Group Cesar Pelli Jun 2018 $1,400 308 190 62%

RITZ-CARLTON SUNNY ISLES Sunny Isles Fortune International Arquitectonica Nov 2017 $1,500 212 115 54%

TURNBERRY OCEAN CLUB Sunny Isles Turnberry Associates Carlos Zapata Nov 2018 $1,450 154 44 29%

PORSCHE TOWER Sunny Isles Gil Dezer Porsche Design / S.-Suarez Sep 2016 $1,700 132 128 97%

JADE SIGNATURE Sunny Isles Fortune International Herzog & de Meuron Jun 2016 $1,650 192 168 88%

PARQUE TOWERS Sunny Isles J.Milton & Associates Edward Castallera Feb 2016 $500 320 290 91%

MUSE Sunny Isles PMG (NY) Carlos Ott / Sieger-Suarez Jun 2017 $1,900 68 64 94%

EIGHTY SEVEN PARK Surfside Terra Group / Bizzi Partners Renzo Piano Jan 2018 $2,500 70 17 24%

SURF CLUB - FOUR SEASONS Surfside Fort Capital Richard Meyer May 2016 $2,200 150 120 80%

FENDI CHATEÂU Surfside Château Group Arquitectonica Nov 2016 $1,800 58 43 74%

METROPICA Sunrise Trillist Companies / KGH Intl. Oppenheim Architecture Nov 2017 $404 263 132 50%

TOTAL 16,215 10,838 67% (Avg.)

18.

19.

20.

21.

22.

23.

24.

25.

26.

27.

28.

29.

30.

31.

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82.

P R E S E N T S

S O U T H F L O R I D A ’ S

M O S T P R E S T I G I O U S

N E W R E S I D E N C E S

O N L Y W I T H ONE

TURNBERRY OCEAN CLUB RESIDENCESSUNNY ISLES BEACH

When you find a residence that feels right, you just know it. When you

enter a residence at Turnberry Ocean Club, you instantly appreciate the

superb architectural thought and creativity. A luxury tower must contain

more than just efficient floor plans and an innovative design; it must

have a soul and provide a lifestyle and a level of service that is unrivaled.

154 RESIDENCES

3 – 6 BEDROOMS

$4M STARTING PRICE

2018 COMPLETION

ONE THOUSAND MUSEUMDOWNTOWN MIAMI

Pritzker Prize-winning architect Zaha Hadid has become internationally

renowned for her designs of sensuous, soaring buildings that push the

limits of innovation and blur the lines between art and architecture.

One Thousand Museum, her first residential development in the

Western Hemisphere, is set to be Miami’s most prestigious new tower.

86 RESIDENCES

4 – 6 BEDROOMS

$5.8M STARTING PRICE

2018 COMPLETION

O N L Y W I T H ONE

780 RESIDENCES

1 – 3 BEDROOMS

$595K STARTING PRICE

2016 COMPLETION

BRICKELL CITY CENTREMIAMI

Combining ahead-of-the-curve, environmentally friendly design with retail

development savoir-faire, Brickell City Centre is the singularly innovative,

$1.05-billion project setting a new urban pulse in Miami. Reach and Rise,

its residential towers with 390 residences each, will offer extraordinary,

cosmopolitan residences tailored for global citizens.

BOULEVARD 57MIAMI

Boulevard 57 is the new landmark in Miami’s Upper Eastside, where

residents can experience a distinctively unique lifestyle. World-class

comforts are abundant in every facet, in a home that offers the best of

everything. From the high ceilings, to the custom designed European

closets, every detail has been crafted for excellence.

105 RESIDENCES

1 – 4 BEDROOMS


2018 COMPLETION

O N L Y W I T H ONE

23 RESIDENCES

2 – 4 BEDROOMS

$4M STARTING PRICE

2017 COMPLETION

L’ATELIERMIAMI BEACH

Designed as complete, flow-through residences, L’Atelier offers captivating

views in every direction. A Miami Beach masterpiece, it is set on the

grounds of the historic Golden Sands Hotel, intimate from a rich past

yet open to a brilliant tomorrow. This one-of-a-kind residence is the first

development by acclaimed interior designer, Holly Hunt.

THE RITZ-CARLTON RESIDENCESMIAMI BEACH

111 RESIDENCES

2 – 5 BEDROOMS

$2M STARTING PRICE

2017 COMPLETION

Elegant. Simple. Understated. A home where windows and doors open to

let the sounds and essence of nature float inside with the breeze. This is

a home where incredible meals are prepared and enjoyed with incredible

views. At the end of a busy day, oversized bathrooms create a retreat from

the world, and master suites offer privacy and comfort to the extreme.

O N L Y W I T H ONE

66 RESIDENCES

4 – 9 BEDROOMS


2016 COMPLETION

THE MANSIONS AT DORALMIAMI

Situated on magnificent lots, The Mansions at Doral is a gated enclave

of ultra-luxurious, modern homes that brings new life to the City of

Doral’s most prestigious area. With close proximity to major highways,

Miami International Airport, fine retailers and boutiques, and much

more, a stimulating lifestyle is right at your fingertips.

GALE RESIDENCESFORT LAUDERDALE

128 RESIDENCES

1 – 3 BEDROOMS


2017 COMPLETION

A landmark restored. A village reborn. A lifestyle revealed. 128 extraordinary

residences deliver elegant, contemporary living with exquisite views over

the North village to the beach and the downtown skyline. Intimate scale

and nostalgic charm joins elevated services and amenities for a luxury

experience Fort Lauderdale hasn’t seen in decades.

O N L Y W I T H ONE

263 RESIDENCES

1 – 3 BEDROOMS


2017 COMPLETION

METROPICASUNRISE

The vision behind Metropica was to completely reimagine and redefine

today’s modern urban lifestyle. Metropica combines luxury, technology,

top-of-the-line amenities, enviable views and more, creating a dynamic

community where life takes place in its many forms. Metropica offers

a place where work, play and life all happen seamlessly.

RIVAFORT LAUDERDALE

100 RESIDENCES

2 – 3 BEDROOMS


2017 COMPLETION

Located in Fort Lauderdale along the banks of the Middle River and

within steps of the Galleria Mall on Sunrise Boulevard, this development,

infused with contemporary Italian design, consists of 15 floors and 100

elegantly designed residences overlooking the river, Las Olas Boulevard

and Downtown Fort Lauderdale.

O N L Y W I T H ONE

19 RESIDENCES

1 – 4 BEDROOMS


2017 COMPLETION

THREE HUNDRED COLLINSMIAMI BEACH

At Three Hundred Collins, residents can leave the sights and sounds of

South Beach behind and discover a sanctuary between the city and the

sea. These residences offer the ultimate balance of city living and cool

tranquility. A unique blend of its natural environment and sophisticated

design, Three Hundred Collins is a modern retreat in the heart of it all.

LOUVER HOUSEMIAMI BEACH

12 RESIDENCES

3 BEDROOMS


2017 COMPLETION

Within this boutique property, spacious residences accessed by private

elevators feature the finest interior design. Airy and contemporary, yet

beautifully private, Louver House captures the spirit of South of Fifth.

The neighborhood’s tree-lined streets and lush gardens are reimagined

in private terraces as well as a rooftop pool terrace and dining areas.

O N L Y W I T H ONE

11 RESIDENCES

4 BEDROOMS


2017 COMPLETION

ELEVEN ON LENOXMIAMI BEACH

These townhomes combine the independent spirit of the beach house with the

style and prestige of an exclusive property. Each of these homes, developed by

Shoma Group, is designed to offer a more fluid, more individual way of living.

From your own garage to your very own pool, let Charles Allem’s seamless

interiors take you into a private world of uninhibited luxury.

KAI BAY HARBORBAY HARBOR ISLANDS

57 RESIDENCES

1 – 4 BEDROOMS


2016 COMPLETION

Suitably located just a few minutes from the beach, Bay Harbor Shops

and the Indian Creek golf course, Kai offers beautiful surroundings

and leisure at your immediate reach. This boutique gem consists of

57 spacious and luminous residences. Staying true to its boutique

fashion, Kai features innovative architecture and world-class design.

O N L Y W I T H ONE

2017 COMPLETION

13 RESIDENCES

3 – 4 BEDROOMS


LAGUNA HOUSEMIAMI

Laguna House is a 10-story tower that delivers a modern lifestyle with

luxurious interiors. Designed with only 13 residential units, including

one penthouse spanning the entire 10th floor, this stunning tower

incorporates privacy and exclusivity along with elements of the area’s

fashionable character, contemporary design focus, and upscale lifestyle.

408 RESIDENCES

0 – 3 BEDROOMS


COMPLETE

THE RESIDENCES AT W SOUTH BEACHMIAMI BEACH

Exquisitely finished and furnished oceanfront residences offering

world-class service and the ultimate resort lifestyle. Enjoy an enviable

300 feet of frontage along one of the finest stretches of white-sand

beach. Each residence is situated at a 25-degree angle to maximize

the spellbinding majesty of panoramic ocean and Miami views.

O N L Y W I T H ONE

14 RESIDENCES

3 – 5 BEDROOMS


PALM VILLASBAY HARBOR ISLANDS

Palm Villas offers a place in paradise to live with openness, privacy

and elegance. A gated community in Bay Harbor Islands, these

four-story, contemporary villas feature a family-friendly place to

experience luxury in an island paradise. 2017 COMPLETION

1414 WEST BEACHMIAMI BEACH

10 RESIDENCES

2 – 3 BEDROOMS


2017 COMPLETION

At 1414 West Beach you will find 10 beautifully crafted designer

residences by Charles Allem. Located in the vibrant community of

West beach, this boutique luxury development is steps away from

luxury shopping, elite training facilities and top restaurants. These

fully finished residences will be the ultimate private culture.

Since 1744, the Sotheby’s name has become renowned as a marketer for many of the

world’s most treasured possessions. Sotheby’s International Realty, in keeping with this

extraordinary reputation, has become a global leader in the representation of distinctive

real estate. In essence, Sotheby’s International Realty is synonymous with quality and

service and is the most interconnected luxury real estate brokerage network in the world.

In working collaboratively with our global Sotheby’s International Realty affiliates, ONE

Sotheby’s International Realty executes intelligent, innovative and strategic sales and

marketing programs, delivering maximum results and an exceptional level of service. By

utilizing the Sotheby’s brand’s in-house partnerships and resources, and by drawing upon

the immense experience of our associates, ONE Sotheby’s International Realty is uniquely

positioned to present real estate opportunities to an international, qualified client base.

ABOUT ONE SOTHEBY’S INTERNATIONAL REALTY

©MMXVI ONE Sotheby’s International Realty, licensed real estate broker. Sotheby’s International Realty® is a licensed trademark to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Office is Independently Owned and Operated. Statistics provided by Integra Realty Resources – Miami\Palm Beach. The information contained herein is deemed accurate but not guaranteed.

2016 trends annual report

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