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MARKET UPDATE Cervera Real Estate Market Update in collaboration with the Miami DDA

Issue 1 | January 2012

Miami: The #1 Turn-around Market in the Nation!

• Sales & Leasing Activity Report • Number of Residential Sales • Sales & Rental Price Trends • Top Downtown Buildings • Foreclosure Activity • Downtown Updates • Downtown Map

Join the new era of Cervera! We offer exceptional training, dynamic locations, innovative marketing and so much more. For a confidential meeting please contact Marketing@Cervera.com. Check out our Facebook page for event information and updates at Facebook.com/CerveraRE www.Cervera.com

1,046

2, 00 0

561

Condominium Units

Cervera Real Estate 1492 S. Miami Avenue Miami, FL 33130

What’s inside…

1,298 1,238

1, 50 0

Unsold 4,014 = 17%

Brickell CBD Wynwood/Edgewater Arts & Entertainment

1, 00 0

Units by District = 4,014 Total = 22,785 As ofInventory September 30, 2011 New SOLD Condominium = 18,771 (83%) Units SOLD = 83% Unsold==18,771 4,014 (17%)

0

Sold 18,771 83%

Total Inventory New Condominium Units Increased to 22,785

50

17%

Completed/Unsold New Condominium Units by District ~ September 2011

0

Cervera Real Estate and the Miami Downtown Development Authority are pleased to bring you this residential market update. According to the National Association of Realtors, Miami is the #1 turn-around market in the nation. Condo sales have increased 79 percent in the first five months of this year, largely due to an influx of foreign investors. As a downtown resident/business-owner it is important for you to know what’s happening in your area. We hope you find this information valuable.


About the Market Trend Update “Upon review of monthly data from the Goodkin research, there are two notable key factors influencing the price trend. First, resale activity is increasing as a percent of total sales due to diminishing inventory of new units. Secondly, remaining unsold, new units tend to be the less desirable units (i.e. views, floor height, floor plans) as the majority of the most desirable units (price premiums) have been sold.� (Goodkin)

The information below is an excerpt of a report compiled by Goodkin Consulting, commissioned by the Miami DDA. It is a statistical update of key residential market trends in the Downtown Miami area and designed to inform residents and business owners. The information presented is based on direct research of public records, MLS and other independent sources. A copy of the full report is available for download at www.miamidda.com.

Sales and Leasing Acvity

00

00

,4 $2

50 0

40 0

30 0

20 0

10 0

0

Average Monthly Rental Units

Average Sales Price Trend PreForeclosure Filings

201

36 103

10/10 20

44

22

48

69

$339,700

$294

October 10

324

$98,078,434

383,588

$302,711

$256

November 10

342

$119,069,741

395,256

$348,157

$301

December 10

360

$131,160,023

420,372

$364,333

$312

January 11

253

$89,158,400

299,812

$352,405

$297

February 11

268

$100,681,650

319,604

$375,678

$315

March 11

268

$100,681,650

316,095

$396,398

$336

April 11

335

$122,410,845

394,753

$365,406

$310

May 11

287

$105,003,300

331,270

$365,865

$317

June 11

260

$99,988,500

311,948

$384,571

$321

July 11

298

$107,743,200

341,026

$361,554

$316

August 11

380

$132,598,072

436,679

$348,942

$304

September 11

316

$103,262,481

345,110

$326,780

$299

Units Sold

Total Sales Volume ($)

Total Sq. Ft.

Average Unit Price

Average $/Sq. Ft.

Brickell

520

$200,084,049

596,836

$384,777

$335

CBD

253

$73,036,520

248,032

$288,682

$294

Arts & Ent.

113

$47,673,030

160,495

$421,885

$297

Wynwd./Edgwtr.

108

$22,810,154

117,452

$211,205

$194

Total Q2

994

$343,603,753

1,122,815

$345,678

$306

$375,678 $396,398 $365,406 $365,865 $384,571 $361,554 $348,942 $326,780

Average Unit Sales Price

Average Sales Price Per Square Foot

About Cervera’s Numbers

$301 $312 $297 $315 $336 $310 $317 $321

BrickellHouse

$316 $304

00

$4

50

00

Represented exclusively by Cervera $3

$3

50

$2

$2

00

$299

50

Miami DDA Area: 1.7 Square Miles 2010 Popula on: 71,000 2010 Day me Popula on: 194,000 2014 Projected Popula on: 81,100 22,079 Residen al Units Built Since 2003 18.6 Million Sq. Ft. of Office Space 6,096 Hotel Rooms

Months

The Miami Downtown Development Authority DDA Fast Facts:

$294 $256

$1

20 0

15 0

10 0

50

Foreclosure Recordings

9/10 10/10 11/10 12/10 1/11 2/11 3/11 4/11 5/11 6/11 7/11 8/11 9/11

00

29 39 9/11 18 35

8/11

0

$352,405

45

7/11 19 40

40,000 250 69 17 4 1

$364,333

0

6/11 14

356,390

Source: MLxchange. Cervera and the Miami DDA make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the contents of this advertisement and expressly disclaims liability for errors and omissions of third-party content.

$348,157

$5

5/11

$339,700

$1

4/11

$104,627,500

$1

3/11

$5

Months

2/11

42 37 26 23 33 46 37 28 25

308

$302,711

0K

12/10 16 1/11

Months

11/10

9/10 10/10 11/10 12/10 1/11 2/11 3/11 4/11 5/11 6/11 7/11 8/11 9/11

$0

9/10

Aucon

September 10

00 K $1 50 K $2 00 K $2 50 K $3 00 K $3 50 K $4 00 K $4 50 K $5 00 K

Foreclosure Acvity by Stage of Process

Average $/Sq. Ft.

00

,2

478

391

,0

9/11

$6

316

Average Unit Price

Area

$2

380

8/11

Total Sq. Ft.

$2,199

$2

477

Total Sales Volume ($)

$2,211

00

298

7/11

Units Sold

Month

Breakdown by Area - 2nd Quarter 2011

$2,103

00

398

$2,097

,8

260

6/11

463

$1

388

287

5/11

00

335

4/11

Monthly Sales Profile

$2,005

,6

433

$2,023

$1

268

$2,015

00

3/11

349

,4

268

$1

357

2/11

00

1/11

$2,012 $1,981

00

268 253

Months

12/10

$2,061 $1,976

,2

11/10

$1,914

$1

359 342 359 360

$1,959

00

324

10/10

9/10 10/10 11/10 12/10 1/11 2/11 3/11 4/11 5/11 6/11 7/11 8/11 9/11

,0

396

$1

308

9/10

Months

Average Residenal Rental Rate Trends

Leases

$8

Sales

Downtown Study Area Residenal Sales

Price per square foot

Condominium units sold Licensed Professionals Condominium Projects Represented Exclusively Real Estate Offices Counties with Offices Reputable Brand Known Throughout Key Markets in South Florida, Latin America and Europe.

Miami’s newest and most sophisticated residential address designed by Sieger Suarez with interiors by Yabu Pushelberg. This 374 unit residential “green� building project by Newgard Development Group boasts the first residential robotic parking garage in SE United States. Other features include innovative design, beautiful views and a 46th floor pool sky deck. For more information, contact the Sales Office at 305.938.5711.

Marquis Over 75% Sold! Represented exclusively by Cervera Rising over Biscayne Bay and Downtown Miami, Marquis Residences offers a truly ideal address and exclusive lifestyle in South Florida. Breathtaking views, amazing amenities and five-star services are just a few reasons why the project is over 75% sold. For more information on Marquis, call the Sales Office at 305.571.4000.


EPIC

International Investment in Downtown Miami A Message from the Miami DDA:

Uniquely situated where Biscayne Bay meets the Miami River and home to world renowned Zuma, EPIC has become one of the Magic City’s most recognized waterfront landmarks. Penthouse, two-story town houses and spacious luxury units are available for sale with less than 25 remaining. For more information, contact the Sales Office at 305.400.7399.

Downtown Miami’s population is expected to grow to 85,000 by 2014 as the remainder of the new housing inventory is absorbed. Assuming continuation of sales pace, the remaining unsold inventory could be sold-out in 32 months. On the heels of this residential uptick, foreign developers are realizing Downtown Miami’s

Represented exclusively by Cervera

Cervera Management, Inc. We provide peace of mind

Manage logistics of owning a second home or rental property • Inventory property when lease expires • Receive and deposit rent • Interface with the tenant on your behalf • Estimates for property upkeep • Credit card rent payment service option • Send rental invoices to tenant • Post 3-day notice on premise when rental payment is late Coordination of services • Repairs • Cleaning • Upgrades • Maintenance Administrative payments • Utilities • Mortgage • Real Estate Taxes • Insurance • Credit cards • Maintenance fees Submit property reports • Monthly or quarterly statements • Annual summary of income and expenses Facilitate insurance estimates

retail, and residential component. These include Genting Malaysia Berhad’s Resorts World Miami; Brickell CitiCentre, being developed by Hong Kong-based subsidiary Swire Properties; and 1400 Biscayne Center, to be developed by Madrid-based subsidiary Espacio USA. “Downtown Miami continues to be seen as a ‘safe bet’ for investors thanks to the quality and affordability of assets in our market,” said Commissioner Marc Sarnoff, Chairman of the Miami DDA. “As a result of the investments made and growing appeal for the area among new residents, a community has formed and a world-class city is emerging.”

“Downtown Miami continues to be seen as a ‘safe bet’ for investors thanks to the quality and affordability of assets in our market...” potential as an international destination and are investing billions in new, large-scale, mixed-use development projects that will bring worldclass amenities including entertainment, hotel,

Five Services for One Price - Management Fees Start at $80 per Month 305.374.3434 | cervera@cervera.com

Downtown Miami

Cervera One Miami Office | 325 South Biscayne Blvd.

E

Cervera Marquis Sales Office | 1100 Biscayne Blvd. Way

F

Cervera Epic Office | 270 Biscyane Blvd. Way

G

Cervera BrickellHouse Sales Office | 1200 Brickell Ave., Suite 1500

H

Miami Downtown Development Authority (DDA) | 200 S Biscayne Blvd.

I

Miami-Dade College Wolfson Campus | 300 NE 2nd Ave.

J

FIU Business School | 22 E. Flagler St.

K

Miami Federal Courthouse | 400 N Miami Ave.

L

Miami-Dade Public Library & Miami Art Museum | (same address) 101 W Flagler St.

NW 8th St

Q

NW 6th St NW 5th St

L W Flagler St SW 1st St SW 2nd St SW 3rd St

968

N

Bayside Marketplace | 401 Biscayne Blvd., Miami, FL

O

Adrienne Arsht Center for the Performing Arts | 1300 Biscayne Blvd., Miami, FL

P

Museum Park

Q

Garcia’s Seafood Grille & Seafood Market | 398 NW River Dr., Miami, FL

O 41 E P I

F

SW 8th St

G SW 13th St SW

972

ve dA 3r

SW

A

16 th Rd

e Av e Av S M kell c i Br i iam

1

Port Blvd

C HM N D B

ll Ave

Bayfront Park | 301 N Biscayne Blvd., Miami, FL

90

Bicentennial Park

J

SW 7th St

M

K

NE 2nd Ave

D

NE 1st Ave

C

Cervera 50 Biscayne Office | 20 South Biscayne Blvd.

ay MacArthur Causew

Bricke

Cervera Brickell Key II Office | 540 Brickell Key Dr.

N Miami Ave

B

S Miami Ave

Cervera Corporate Office | 1492 S. Miami Ave.

NW 2nd Ave

A

Vene„an Causeway NW 14th St

Brickell Key Dr Brickell Key Park


50 Biscayne Cervera is Downtown Real Estate Top Producing Team Specializing in Downtown and Brickell

Beatriz Carmona 305.775.3736

Anthony Flexas 305.338.7089

Paulina Muro 786.356.4000

bhco@bellsouth.net

anthonyflexas@gmail.com

paulinamuro3@gmail.com

Brenda Bichilli 305.206.5048

Marina Orjuela 786.302.5523

Andrew Levine 239.872.7480

bbfranzen@aol.com

marinaorjuelamiami@gmail.com

alevine@cervera.com

Residential | Commercial | Buy | Sell | Lease Short Term Rentals | Property Management 50 Biscayne Boulevard, Miami, FL | Open 7 Days A Week Find us on: Facebook, LinkedIn & Twitter

Commercial Leasing Specialists | Restaurant & Retail

Wolfgang Herz and Ricardo Dupond

LEASED! Zuma

Top Restaurant in Epic Hotel

LEASED! Kukaramakara

Restaurant & Lounge in Brickell

LEASED! Baru Urbano

Restaurant & Lounge in Brickell

FOR SALE

Offered at $4.5MM

Restaurant & Lounge in Brickell

FOR LEASE/SALE

Tequesta Three PH #4604

Luxurious 4,427 two-story 3BD/3.5BA penthouse featuring Philippe Starck chandeliers, white glass porcelain floors, mosaics, private balcony, 30’ ceilings, high-end appliances & fixtures.

LEASED! Piola

Epic

Languages Spoken: Spanish, German, Portugese, French, Hebrew, Dutch, Russian, Italian

Luxury Residential Team Gabriella Bailom Petra Bensoussan Carolina Pupo

Several units available in one of the most coveted buildings downtown. Amazing amenities, finishes, views in each unit.

Starting at $2,000 per month for lease and $350,000 for sale

305.970.7260 | www.whmiami.com | wherz@cervera.com Servicing all of South Florida


Cervera Real Estate's Downtown & Brickell Market Update - Issue One