S U N N Y
I S L E S
R E P O R T
3RD QUARTER 2018 EDITION SUNNYISLESREPORT.COM
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3 R D Q U A R T E R 2 0 1 8 E D I T I O N
CONTENTS New Construction Showcase (A-Z) Highlighting some of the most anticipated New Construction projects in Sunny Isles Beach p4. Estates At Acqualina
p7. Residences By Armani Casa
p5. Jade Signature
p8. The Ritz-Carlton Residences, SIB
p6. MUSE Residences
p9. Turnberry Ocean Club
DON'T SEE YOUR FAVORITE BUILDING HERE? CONTACT ARNO VIA TEXT, WHATSAPP OR PHONE: 305.432.1479
Existing Condomininiums (A-O)
Existing Condomininiums (O-Z)
p10. Acqualina Ocean Resort
p19. Ocean Four
p11. Chateau Beach Residences
p20. Pinnacle
p12. Jade Beach
p21. Porsche Design Tower
p13. Jade Ocean
p22. Regalia
p14. Mansions at Acqualina
p23. Trump International
p15. Millennium
p24. Trump Palace
p16. Ocean One
p25. Trump Royale
p17. Ocean Two
p26. Trump Tower I/II/III
p18. Ocean Three
p27. Turnberry Ocean Colony
DEVOSREPORT | P2 .
3 R D Q U A R T E R 2 0 1 8 E D I T I O N
THE CURRENT SUNNY ISLES MARKET Sunny Isles Beach continues to be at the center of many Miami Buyers' focus... Not only as the area where many of Miami's most exquisite oceanfront buildings are built, but also where (currently) significant Buy-side opportunities can be found. In a nutshell, when looking at all the buildings measured in this report (as outlined in the Contents above), approximately 4.5% more residences were sold in the past year than in the 12-month period prior. Most significantly, the Average Price Per Square Foot decreased by around 13%; while successful sellers did agree to around the same level of discount off their last list price (just under 10%). Keeping in mind, these numbers were achived in addition to the aforementioned New Construction sales in the local market (see pages 4-9). As many owners look at "upgrading" to the very newest product coming in to Sunny Isles, this, too, creates additional opportunity for those contemplating a purchase at this time. As always, I welcome the opportunty to help you find your opportunity. Feel free to reach me by email, call or text. ARNO ABOUT THE DE VOS REPORT | SUNNY ISLES EDITION
SEND ME THIS REPORT AS A PDF
This report was compiled by Arno De Vos, P.A. and is based upon Closed Sales of properties as recorded in the Southeast Florida MLS; with data provided by the Miami Association of Realtors. Data includes properties with varying floor plans, views and elevations. All material presented herein is intended for informational purposes only. All property information, including but not limited to square footage, room count, number of bedrooms in property listings should be verified by your own attorney, architect or zoning expert. While this information is believed to be accurate and correct, it is presented subject to errors, omissions, changes or withdrawal without notice. If your property is currently listed with another real estate broker, please disregard this offer. It is not our intention to solicit the offerings of other real estate brokers. We cooperate with them fully. Equal Housing Opportunity.
ARNO DE VOS ONE Sotheby's International Realty arno.devos@sothebysrealty.com
305.432.1479
DEVOSREPORT | P3 .
3 R D Q U A R T E R 2 0 1 8 E D I T I O N
ESTATES AT ACQUALINA Total Number of Residences:
154 (South Tower only)
Total Floors:
51
Floor Plan Size Range:
2,910 SF - 6,500 SF
Offered From:
$4.2M
Developer:
GSF Acquisition, LLC, an affiliate of Eddie, Jules & Stephanie Trump
Estimated Completion:
End of 2020
Request Floor Plans & Availability for Estates At Acqualina: Click here. CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P4 .
3 R D Q U A R T E R 2 0 1 8 E D I T I O N
JADE SIGNATURE Total Number of Residences:
192
Total Floors:
57
Floor Plan Size Range:
1,378 SF - 11,661 SF
Offered From:
$2.00M
Developer:
Fortune International Group
Completion:
Completed
See Current Availability for Jade Signature: Click here. CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P5 .
3 R D Q U A R T E R 2 0 1 8 E D I T I O N
MUSE RESIDENCES Total Number of Residences:
68
Total Floors:
49 (with 12-Foot Ceilings)
Floor Plan Size Range:
3,635 SF
Offered From:
$4.3M
Developer:
Property Markets Group (PMG) & S2 Development
Estimated Completion:
Completed
See Current Availability for MUSE Residences: Click here. CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P6 .
3 R D Q U A R T E R 2 0 1 8 E D I T I O N
RESIDENCES BY ARMANI CASA Total Number of Residences:
308
Total Floors:
56
Floor Plan Size Range:
1,326 SF - 4,150 SF
Offered From:
$3.05M
Developer:
Dezer Development and The Related Group
Estimated Completion:
2018
Request Availability for Residences By Armani Casa: Click here. CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P7 .
3 R D Q U A R T E R 2 0 1 8 E D I T I O N
RITZ-CARLTON RESIDENCES SUNNY ISLES BEACH Total Number of Residences:
212
Total Floors:
50
Floor Plan Size Range:
1,750 SF - 3,640 SF
Offered From:
$2.967M
Developer:
Fortune International Group & Chateau Group
Estimated Completion:
2019
Request Availability for The Ritz-Carlton Residences: Click here. CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P8 .
3 R D Q U A R T E R 2 0 1 8 E D I T I O N
TURNBERRY OCEAN CLUB RESIDENCES Total Number of Residences:
154
Total Floors:
54
Floor Plan Size Range:
2,900 SF - 10,750 SF
Offered From:
$3.9M
Developer:
Turnberry Associates
Estimated Completion:
End of 2019
Request Availability for Turnberry Ocean Club Residences: Click here. CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P9 .
2 0 1 8
Q 3
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E D I T I O N
ACQUALINA OCEAN RESORT
2016 -
2017 -
2017
2018
# OF SALES
25%
8
10
AVERAGE PRICE PER SQ FT
-12%
$992
$875
AVERAGE DAYS ON MARKET
-30%
325
229
% NEGOTIATED OFF LIST PRICE
47%
8.3%
12.2%
View Current Availability at Acqualina Resort: Click here.
CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P10 .
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Q 3
1 2 - M O N T H P E R I O D E N D I N G S E P T E M B E R 3 0
E D I T I O N
CHATEAU BEACH RESIDENCES
2016 -
2017 -
2017
2018
# OF SALES
-50%
4
2
AVERAGE PRICE PER SQ FT
-26%
$1,048
$778
AVERAGE DAYS ON MARKET
86%
150
279
% NEGOTIATED OFF LIST PRICE
-11%
9.6%
8.5%
View Current Availability at Chateau Beach Residences: Click here.
CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P11 .
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Q 3
1 2 - M O N T H P E R I O D E N D I N G S E P T E M B E R 3 0
E D I T I O N
JADE BEACH
2016 -
2017 -
2017
2018
# OF SALES
14%
7
8
AVERAGE PRICE PER SQ FT
-5%
$879
$832
AVERAGE DAYS ON MARKET
-15%
247
210
% NEGOTIATED OFF LIST PRICE
-52%
16.0%
7.6%
View Current Availability at Jade Beach: Click here.
CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P12 .
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1 2 - M O N T H P E R I O D E N D I N G S E P T E M B E R 3 0
E D I T I O N
JADE OCEAN
2016 -
2017 -
2017
2018
# OF SALES
-27%
11
8
AVERAGE PRICE PER SQ FT
-7%
$1,043
$966
AVERAGE DAYS ON MARKET
69%
141
239
% NEGOTIATED OFF LIST PRICE
74%
7.8%
13.6%
View Current Availability at Jade Ocean: Click here.
CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P13 .
2 0 1 8
Q 3
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E D I T I O N
MANSIONS AT ACQUALINA
2016 -
2017 -
2017
2018
# OF SALES
0%
5
5
AVERAGE PRICE PER SQ FT
-3%
$1,171
$1,141
AVERAGE DAYS ON MARKET
-62%
371
141
% NEGOTIATED OFF LIST PRICE
-11%
13.3%
11.9%
View Current Availability at Mansions At Acqualina: Click here.
CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P14 .
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E D I T I O N
MILLENNIUM
2016 -
2017 -
2017
2018
# OF SALES
-67%
3
1
AVERAGE PRICE PER SQ FT
42%
$577
$818
AVERAGE DAYS ON MARKET
131%
169
391
% NEGOTIATED OFF LIST PRICE
-14%
7.5%
6.4%
View Current Availability at Millennium: Click here.
CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P15 .
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Q 3
1 2 - M O N T H P E R I O D E N D I N G S E P T E M B E R 3 0
E D I T I O N
OCEAN ONE
2016 -
2017 -
2017
2018
# OF SALES
-57%
7
3
AVERAGE PRICE PER SQ FT
-8%
$637
$588
AVERAGE DAYS ON MARKET
60%
117
187
% NEGOTIATED OFF LIST PRICE
39%
8.3%
11.6%
View Current Availability at Ocean One: Click here.
CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P16 .
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Q 3
1 2 - M O N T H P E R I O D E N D I N G S E P T E M B E R 3 0
E D I T I O N
OCEAN TWO
2016 -
2017 -
2017
2018
# OF SALES
17%
6
7
AVERAGE PRICE PER SQ FT
-8%
$660
$608
AVERAGE DAYS ON MARKET
-49%
289
146
% NEGOTIATED OFF LIST PRICE
53%
9.5%
14.6%
View Current Availability at Ocean Two: Click here.
CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P17 .
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Q 3
1 2 - M O N T H P E R I O D E N D I N G S E P T E M B E R 3 0
E D I T I O N
OCEAN THREE
2016 -
2017 -
2017
2018
# OF SALES
40%
5
7
AVERAGE PRICE PER SQ FT
-13%
$574
$501
AVERAGE DAYS ON MARKET
37%
93
127
% NEGOTIATED OFF LIST PRICE
43%
6.8%
9.7%
View Current Availability at Ocean Three: Click here.
CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P18 .
2 0 1 8
Q 3
1 2 - M O N T H P E R I O D E N D I N G S E P T E M B E R 3 0
E D I T I O N
OCEAN FOUR
2016 -
2017 -
2017
2018
# OF SALES
-11%
9
8
AVERAGE PRICE PER SQ FT
-15%
$671
$571
AVERAGE DAYS ON MARKET
73%
167
288
% NEGOTIATED OFF LIST PRICE
-18%
7.1%
5.8%
View Current Availability at Ocean Four: Click here.
CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P19 .
2 0 1 8
Q 3
1 2 - M O N T H P E R I O D E N D I N G S E P T E M B E R 3 0
E D I T I O N
PINNACLE
2016 -
2017 -
2017
2018
# OF SALES
0%
7
7
AVERAGE PRICE PER SQ FT
-3%
$586
$567
AVERAGE DAYS ON MARKET
157%
94
242
% NEGOTIATED OFF LIST PRICE
40%
10.6%
14.9%
View Current Availability at Pinnacle: Click here.
CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P20 .
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E D I T I O N
PORSCHE DESIGN TOWER # OF SALES
100%
AVERAGE PRICE PER SQ FT
-46%
AVERAGE DAYS ON MARKET
0%
% NEGOTIATED OFF LIST PRICE
-47%
2016 -
2017 -
2017
2018
2
4
$1,717 **
$935
100
100
19.4%
10.2%
** Reflects Average inclusive of $25M Penthouse sale at $2,919/SF
View Current Availability at Porsche Design Tower: Click here.
CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P21 .
2 0 1 8
Q 3
1 2 - M O N T H P E R I O D E N D I N G S E P T E M B E R 3 0
E D I T I O N
REGALIA
2016 -
2017 -
2017
2018
# OF SALES
-83%
6
1
AVERAGE PRICE PER SQ FT
-20%
$1,596
$1,269
AVERAGE DAYS ON MARKET
64%
150
246
% NEGOTIATED OFF LIST PRICE
145%
9.1%
22.2%
View Current Availability at Regalia: Click here.
CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P22 .
2 0 1 8
Q 3
1 2 - M O N T H P E R I O D E N D I N G S E P T E M B E R 3 0
E D I T I O N
2016 -
2017 -
2017
2018
0
2
AVERAGE PRICE PER SQ FT
n/a
$770
AVERAGE DAYS ON MARKET
n/a
347
% NEGOTIATED OFF LIST PRICE
n/a
8.9%
TRUMP INTERNATIONAL # OF SALES
View Current Availability at Trump International: Click here.
CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P23 .
2 0 1 8
Q 3
1 2 - M O N T H P E R I O D E N D I N G S E P T E M B E R 3 0
E D I T I O N
TRUMP PALACE
2016 -
2017 -
2017
2018
# OF SALES
11%
9
10
AVERAGE PRICE PER SQ FT
3%
$754
$775
AVERAGE DAYS ON MARKET
138%
139
330
% NEGOTIATED OFF LIST PRICE
-14%
12.2%
10.5%
View Current Availability at Trump Palace: Click here.
CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P24 .
2 0 1 8
Q 3
1 2 - M O N T H P E R I O D E N D I N G S E P T E M B E R 3 0
E D I T I O N
TRUMP ROYALE
2016 -
2017 -
2017
2018
# OF SALES
-18%
11
9
AVERAGE PRICE PER SQ FT
-14%
$750
$645
AVERAGE DAYS ON MARKET
63%
122
199
% NEGOTIATED OFF LIST PRICE
9%
8.7%
9.5%
View Current Availability at Trump Royale: Click here.
CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P25 .
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Q 3
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E D I T I O N
TRUMP TOWER I/II/III
2016 -
2017 -
2017
2018
# OF SALES
62%
26
42
AVERAGE PRICE PER SQ FT
-4%
$638
$611
AVERAGE DAYS ON MARKET
7%
160
171
% NEGOTIATED OFF LIST PRICE
-7%
8.5%
7.9%
View Current Availability at Trump Tower I: Click here. View Current Availability at Trump Tower II: Click here. View Current Availability at Trump Tower III: Click here. CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P26 .
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Q 3
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E D I T I O N
TURNBERRY OCEAN COLONY
2016 -
2017 -
2017
2018
# OF SALES
-25%
8
6
AVERAGE PRICE PER SQ FT
-8%
$857
$788
AVERAGE DAYS ON MARKET
17%
186
217
% NEGOTIATED OFF LIST PRICE
-26%
10.2%
7.5%
View Current Availability at Turnberry Ocean Colony (South): Click here. View Current Availability at Turnberry Ocean Colony (North): Click here.
CONTACT ARNO FOR AN EFFECTIVE PRICING STRATEGY 305.432.1479 DEVOSREPORT | P27 .
3 R D Q U A R T E R 2 0 1 8 E D I T I O N
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NEW DEVELOPMENTS: ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. THE FEATURES, PLANS AND SPECIFICATIONS DESCRIBED ARE PROPOSED ONLY, AND THE DEVELOPER RESERVES THE RIGHT TO MODIFY, REVISE OR WITHDRAW ANY OR ALL OF SAME IN ITS SOLE DISCRETION AND WITHOUT PRIOR NOTICE. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, DEVELOPER RESERVES THE RIGHT TO SUBSTITUTE ANY OF THE FOREGOING WITH ITEMS OF SIMILAR OR BETTER VALUE, IN DEVELOPER’S OPINION. ARTIST CONCEPTUAL RENDERING.
ARNO DE VOS ONE Sotheby's International Realty arno.devos@sothebysrealty.com
305.432.1479
DEVOSREPORT | P28 .