miami beach market report - worldwide propertiescontinuum is a two-tower complex on some of the most...

MIAMI BEACH MARKET REPORT2016 Q1 Report

Worldwide Properties is a full-service residential and commercial brokerage firm located in South Beach’s chic South

of Fifth neighborhood. Our world-class sales and marketing teams of brokers and associates represent the most

elegant and luxurious private homes, condominiums and commercial projects in South Florida and the Caribbean.

Our vast international network of contacts and clients in the United States, Caribbean, Europe, Asia and South

America can depend upon our highly experienced, multi-lingual sales teams to plan and execute strategic

acquisitions of the most exclusive and exquisite real estate worldwide.

BRINGING THE WORLD TO MIAMI AND MIAMI TO THE WORLD

The mission of Worldwide Properties and Worldwide Development Services is to deliver unparalleled value to

our clients, agents and brokers through engaged excellence in service; a vast international network of buyers

and brokers; multilingual agents who are integrated into the communities where they work and live; and through

turnkey solutions for portfolio and property management throughout the lifecycle of a property and its buyers,

sellers and investors.

Our Mission

With their fingers firmly on the multinational pulse of Miami and Miami

Beach, J. Eddy Martinez and Roland Ortiz have turned Worldwide

Properties into a highly successful real estate practice with a strong

international footprint. As avid admirers of art, interior design,

architecture and culture, Eddy and Roland have a keen sense for

bringing together inspiring lives with inspired properties. Worldwide

Properties is dedicated to marketing and selling the most unique

and exceptional real estate worldwide, and to bringing a new level of

experience and style to international listings.

Through their brokerage’s global reach, Eddy and Roland have closed

several hundred million dollars in global real estate transactions,

both residential and commercial, including multimillion-dollar bulk

transactions and record-breaking dollar-per-square-foot sales. The

firm also offers residential property management services with turnkey

solutions for both individual owners and institutional investors with

large real estate holdings. With their expert insights and affable

personalities, Eddy and Roland have become noted – and quotable –

media resources on real estate trends, and have been featured in such

publications as The Wall Street Journal, The New York Times, The Miami

Herald, Miami Today, Florida Investor and many more.

J. “Eddy” MartinezFounder, Broker & CEO

Roland OrtizCo-Founder & Director of Sales

Miami Beach is a Manhattan-shaped barrier island just across Biscayne Bay from Downtown Miami

and fronting the Atlantic Ocean. It is world-famous for its historic Art Deco district, miles of white sand

beaches, iconic lifeguard stands, beautiful people and 24/7 international atmosphere.

The area draws travelers and seasonal residents from around the globe – especially Europe and

South America – and is also home to a vibrant year-round community of locals. Today, it’s a thriving

center of outdoor culture, nightlife, retail, dining and a powerhouse of luxury real estate. At the south

end of Miami Beach is South Beach. From the tip of South Pointe Park at South Pointe Drive to 22nd

Street, you’ll find sensational condominiums, luxury townhouses, historic Art Deco apartments, hidden

estates, and world-class hotels and resorts.

A world of contrasts and intrigue, everyone on Miami Beach coexists comfortably – Ferraris sharing

space with cyclists, retirees and weekend warriors, plus everyone in between all lured together

by the island’s magnetic appeal and electric sunshine.

A Glimpse of Miami Beach

Miami BeachJanuary 2016 - March 2016

All property types, $500,000+

Number of Residences on the Market

For Sale

Sold

Pended

All data courtesy of Trendgraphix, 1/01/16 - 03/31/16.

JAN FEB MAR

Current vs. Prev Month Current vs. 2 Months Ago

Mar. 16 Feb. 16 % Change

Mar. 16 Jan. 16 % Change

For Sale 1781 1759 1.3% 1781 1691 5.3%

Sold 69 80 -13.7% 69 63 9.5%

Pended 90 77 16.9% 90 89 1.1%

16-Jan 16-Feb 16-Mar

For Sale 1691 1759 1781

New Listing 335 303 309

Sold 63 80 69

Pended 89 77 90

Months of Inventory (Closed Sales)

26.8 22 25.8

Months of Inventory (Pended Sales)

19 22.8 19.8

Absorption Rate (Closed Sales) %

3.7 4.5 3.9

Absorption Rate (Pended Sales) %

5.3 4.4 5.1

Avg. Active Price 3136 3149 3178

Avg. Sold Price 1828 1397 1935

Avg. Sq. Ft. Price 896 729 899

Sold/List Diff. % 91 92 89

Sold/Orig LP Diff. % 88 89 85

Days on Market 140 154 163

Median 1000 928 965

1691

17591781

6963 80

8977

90


JAN FEB MAR

JAN FEB MAR

896

729

899

22

26.8 25.8

Prices were at their highest during 1Q 2016 in March, with average sold prices at $1.94 million, and average listing prices north of $3.15 million. Although prices were at their highest in March, inventory was also at a high: there were 1,781 residences for sale on Miami Beach asking at least $500,000. Buyers paid anywhere from 85-89% of the original asking price this past quarter, indicating that there was some room to negotiate the final price. Compared to this time last year, sold prices were at an average of $30,000 per listing higher in March 2016 than in March 2015, which represented the highest prices of 1Q 2015.

Average Price Per Square Foot ($)(Sold)

South of Fifth CondominiumsJanuary 2016 - March 2016Continuum I & II, Cosmopolitan, Icon, Murano at Portofino, Murano Grande, Portofino Towers, South Pointe Towers, The Courts at South Beach, Yacht Club at Portofino All property types, $500,000+

Number of Residences on the Market

Current vs. Prev Month Current vs. 2 Months Ago

Mar. 16 Feb. 16 % Change

Mar. 16 Jan. 16 % Change

For Sale 121 114 6.1% 121 114 6.1%

Sold 4 8 -50% 4 9 -55.6%

Pended 7 11 -36.4% 7 9 -22.2%

16-Jan 16-Feb 16-Mar

For Sale 114 114 121

New Listing 24 20 29

Sold 9 8 4

Pended 9 11 7


12.7 14.3 30.3

Months of Inventory (Pended Sales)

12.7 10.4 17.3

Absorption Rate (Closed Sales) %

7.9 7 3.3

Absorption Rate (Pended Sales) %

7.9 9.6 5.8

Avg. Active Price 3344 3322 3187

Avg. Sold Price 3279 2581 2125

Avg. Sq. Ft. Price 1552 1783 1245

Sold/List Diff. % 91 87 94

Sold/Orig LP Diff. % 89 87 89

Days on Market 158 83 199

Median 2800 2020 2263

For Sale

Sold

Pended

All data courtesy of Trendgraphix, 1/01/16 - 03/31/16.

JAN FEB MAR

114 114121

498

911

7


Average Price Per Square Foot ($)(Sold)

JAN FEB MAR

1552

1783

1245

South of Fifth was more of a buyers market in 1Q 2016. Average sold prices were at their lowest in March ($2.13 million) during 1Q 2016. The first quarter of 2016 was at its busiest in February, with 20 of the 114 available units sold or under contract by the end of the month, representing nearly 18% of all available inventory. Unlike Miami Beach generally, residences tend to be priced closer to their sales price: residences closed between 87-94% of their original asking price during 1Q 2016. There was more inventory in March 2016 (121) than March 2015 (91) and more new listings (29) than last year (21).

JAN FEB MAR

14.312.7

30.3

PREMIER SOUTH BEACH LUXURY CONDOMINIUMSActivity & Analysis - 2016 Q1

Continuum (North Tower)

Continuum is a two-tower complex on some of the most coveted Miami Beach property. It occupies the

oceanfront space overlooking South Pointe Park and boasts a 37-story North Tower home to 203 residences.

The South Tower offers 318 luxury condos in a variety of floor plans. The complex is a hangout for celebrities

and international elite, with spectacular pools, gardens, tennis courts, walking paths, 1,000 feet of white sand

beach, world-class spa and fitness center.

50 South Pointe Drive, Miami Beach, FL 33139Built in 2007

To view a list of currently available inventory, click here.

PendingSales

There were no residences under contract to sell at Continuum North at the close of 1Q 2016.

UNIT PENDING DATE BD BA SQ. FT. ORIG. LIST $ List $ $/SF

n/a

http://www.worldwideproperties.com/featured-condo/continuum-north/

ActiveSales

ClosedSales

There were 23 available residences at Continuum North at the end of the first quarter. The jewel of all available listings continues to be unit 801, a massive 6/7.2 residence with over 7,000 SF of living space. Prices range from $1,500/SF to more than $4,000/SF, with most units priced between $1,500 and $3,000/SF.

Four residences closed at Continuum North over the first quarter of 2016, including Unit 1402/3, a 2-unit combination that closed for more than $2,500/SF and spent only 21 days on the market. The average prices per square foot for con-dos sold in the first quarter was $2,037/SF. Four residences also closed during 1Q 2015, but only averaged $1,964/SF.

UNIT LIST DATE BD SQ. FT. SQ. FT. ORIG. LIST $ List $ $/SF

801 9/15/15 6 7.2 7,236 24,500,000 20,260,000 2799.89

3501 1/6/16 3 4 3,030 12,900,000 12,900,000 4257.43

TWN5 1/5/16 4 4.1 2,901 9,900,000 8,700,000 2998.97

2901 4/24/15 3 3.1 2,503 8,400,000 7,900,000 3156.21

1101/8 11/21/14 4 4 3,497 9,950,000 7,750,000 2216.19

2502 2/2/16 4 4.1 3,017 7,600,000 7,600,000 2519.06

3104 12/21/15 3 3.1 2,306 7,900,000 7,400,000 3209.02

1002 1/9/16 3 3 1,977 5,995,000 5,995,000 3032.37

2001 9/18/15 3 3 1,984 5,900,000 5,900,000 2973.79

802 2/25/16 3 3 2,190 5,750,000 5,750,000 2625.57

TH-3 4/16/14 2 3.1 2,556 4,500,000 5,500,000 2151.8

3403 1/20/16 2 2.1 1,720 5,299,000 5,299,000 3080.81

2603 11/13/15 2 2.1 1,862 4,950,000 4,950,000 2658.43

1607 3/16/16 2 2.1 1,443 2,995,000 2,995,000 2075.54

1404 4/17/15 2 2.1 1,443 2,890,000 2,790,000 1933.47

2304 3/23/16 1 1.1 1,412 2,350,000 2,350,000 1664.31

602 1 2 1,199 2,395,000 2,295,000 1914.1

CAB 2 10/22/15 1 1 435 1,349,000 1,349,000 3101.15

601 1 1 742 1,195,000 1,275,000 1718.33

613 1/27/16 1 1 640 1,295,000 1,249,000 1951.56

609 9/15/15 1 1 742 1,200,000 1,200,000 1617.25

502 10/20/15 1 1 790 1,195,000 1,195,000 1512.66

CAB 10 2/1/16 0 1 445 1,000,000 950,000 2134.83

UNIT CLOSED DATE BD BA SQ. FT. ORIG.

LIST $ List $ Sold $ SP/OLP % Days/Mkt $/SF

1402/3 1/19/16 4 4 3,497 9,935,000 9,935,000 8,850,000 89.1% 21 2530.74

TWN1 1/13/16 3 3.1 2,556 5,900,000 5,900,000 5,000,000 84.7% 91 1956.18

2404 1/29/16 1 1 1,554 2,200,000 2,200,000 1,975,000 89.8% 378 1270.91

604 2/26/16 1 1 742 1,295,000 1,295,000 1,190,000 91.9% 111 1603.77

Continuum (South Tower)

Continuum is a two-tower complex on some of the most coveted Miami Beach property. It occupies the

oceanfront space overlooking South Pointe Park and boasts a 37-story North Tower home to 203 residences.

The South Tower offers 318 luxury condos in a variety of floor plans. The complex is a hangout for celebrities

and international elite, with spectacular pools, gardens, tennis courts, walking paths, 1,000 feet of white sand

beach, world-class spa and fitness center.



ClosedSales

Five residences closed at Continuum South over between January and March, with all sales taking place in February or March 2016. With the exception of only one residence, all units spent less than three months on the market from listing to sale. Four units close during the first quarter of 2015 for $2,050/SF, which was lower than this quarter’s average of $2,137/SF.



906 2/11/16 3 3.1 2,508 7,995,000 7,995,000 6,701,000 83.8% 29 2671.85

804 2/29/16 2 2.1 2,292 4,899,000 4,899,000 4,600,000 93.9% 89 2006.98

1409 3/23/16 2 2.1 1,595 3,699,000 3,699,000 3,200,000 86.5% 134 2006.27

909 3/18/16 2 2.1 1,595 3,350,000 3,350,000 3,125,000 93.3% 39 1959.25

501 2/11/16 2 2.1 1,591 3,195,000 3,195,000 2,850,000 89.2% 60 1791.33

http://www.worldwideproperties.com/featured-condo/continuum-south

PendingSales

There were no residences under contract to sell at Continuum South at the close of 1Q 2016.


n/a

ActiveSales

There were 23 available residences at Continuum North at the end of the first quarter. The jewel of all available listings con-tinues to be unit 801, a massive 6/7.2 residence with over 7,000 SF of living space. Prices range from $1,500/SF to more than $4,000/SF, with most units priced between $1,500 and $3,000/SF.


3303 11/23/15 3 3.1 3,335 12,900,000 11,900,000 3568.22

606 8/17/15 3 4.1 2,508 9,995,000 8,995,000 3586.52

3203 3/22/16 3 3.1 3,335 9,490,000 8,990,000 2695.65

TH-4 7/16/15 4 4.1 2,900 4,795,000 5,500,000 1896.55

TH-6 8/7/15 3 4.1 2,365 5,900,000 5,250,000 2219.87

1705 11/2/15 2 2.1 1,869 5,100,000 4,995,000 2672.55

3002 8/5/15 2 2.1 1,791 4,888,000 4,888,000 2729.2

704 8/19/15 2 2.1 2,292 4,995,000 4,750,000 2072.43

1005 3/12/15 2 2.1 1,869 4,800,000 4,500,000 2407.7

TH-12 2/25/16 3 3 2,202 4,400,000 4,400,000 1998.18

1407 1/11/16 2 2.1 1,870 4,199,000 4,199,000 2245.45

2703 11/17/15 2 2.1 1,791 4,400,000 3,999,000 2232.83

510 9/2/15 3 3 2,122 4,629,000 3,990,000 1880.3

708 1/24/16 2 2 1,757 4,250,000 3,900,000 2219.69

1601 2/5/16 2 2.1 1,591 3,900,000 3,900,000 2451.29

1708 2/16/16 1 2 1,757 3,800,000 3,800,000 2162.78

1201 3/4/16 2 2.1 1,591 3,750,000 3,750,000 2357.01

TH-14 10/16/15 3 3.1 2,202 3,600,000 3,600,000 1634.88

TH-13 12/18/15 3 3.1 2,202 3,375,000 3,375,000 1532.7

3605 10/9/15 2 2 1,793 4,200,000 3,350,000 1868.38

1801 12/30/15 2 2.1 1,591 3,579,000 3,350,000 2105.59

1101 3/24/16 2 2.1 1,591 3,295,000 3,295,000 2071.02

2003 7/21/15 1 1.1 1,365 2,595,000 2,595,000 1901.1

1003 10/23/15 1 1.1 1,365 2,490,000 2,490,000 1824.18

502 9/3/15 1 1.1 1,201 2,199,000 2,199,000 1830.97

1403 7/13/15 1 1.1 1,365 2,375,000 2,175,000 1593.41

CAB 4 4/20/15 0 1 642 1,350,000 1,350,000 2102.8

1003 10/23/15 1 1.1 1,365 2,490,000 2,490,000 1,824.18

2102 12/11/15 1 1.1 1,205 2,375,000 2,375,000 1,970.95

502 9/3/15 1 1.1 1,201 2,199,000 2,199,000 1,830.97

1403 7/13/15 1 1.1 1,365 2,375,000 2,175,000 1,593.41

CAB4 4/20/15 0 1 642 1,350,000 1,350,000 2,102.80

Portofino Tower

Portofino Tower Miami Beach is the tallest building in South Beach and one of the first major luxury towers to hit

the area, making it an iconic South of Fifth structure. Features and services come in equal measure at Portofino

Tower, with extravagant penthouses, flourishing landscapes, a mammoth four-story lobby, swimming pools, tennis

courts, fully equipped spa and 206 units with outdoor terraces and nine-foot ceilings.



PendingSales

There were no residences under contract to sell at Portofino Tower at the close of 1Q 2016.


n/a

http://www.worldwideproperties.com/featured-condo/portofino-tower

ActiveSales

ClosedSales

There are 22 available residences at Portofino Tower, ranging in size from 1,160 to 4,710 SF for a combined two resi-dences on the 37th floor. All but the two multi-unit residences can be purchased for less than $2,000/SF.

Six homes closed in 1Q 2016, indicating that sales have taken off at a brisk pace thus far in 2016. The average price per square foot for condos sold during the first quarter was $1,437.


3405/6 6/13/15 4 3.1 4,510 15,000,000 15,000,000 3325.94

3705/6 6/4/15 4 5.1 4,710 15,000,000 10,000,000 2123.14

LP4004 2/17/16 4 4 4,100 7,189,000 7,189,000 1753.41

3305 3 2.1 2,550 5,750,000 4,950,000 1941.18

1505 3/4/14 3 2.1 2,340 4,350,000 4,600,000 1965.81

Lanai 5 12/25/15 3 2.1 2,400 4,499,000 4,499,000 1874.58

2701 2/9/16 3 2.1 2,340 3,800,000 3,800,000 1623.93

1501 9/15/15 3 2.1 2,340 3,395,000 3,760,000 1606.84

2404 11/18/15 2 2.1 2,040 3,250,000 3,695,000 1811.27

2403 11/5/13 3 2.1 2,340 3,790,000 3,495,000 1493.59

3604 2/23/16 2 2.1 1,960 3,495,000 3,495,000 1783.16

2102 1/18/16 2 2.1 2,040 3,400,000 3,400,000 1666.67

2005 3/17/16 3 2.1 2,340 3,400,000 3,400,000 1452.99

803 2/25/16 3 2.1 2,340 2,999,999 2,999,999 1282.05

1602 2/11/16 2 2.1 2,040 3,100,000 2,950,000 1446.08

2006 2/9/16 2 2.1 2,040 2,995,000 2,795,000 1370.1

1001 1/11/16 3 2.1 2,340 3,000,000 2,790,000 1192.31

705 1/20/16 3 2.1 2,340 2,650,000 2,499,000 1067.95

405 1/3/16 3 2.1 2,340 2,320,000 1,950,000 833.33

604 3/9/16 2 2 1,780 1,695,000 1,695,000 952.25

904 3/29/16 2 1.1 1,160 970,000 970,000 836.21

909 3/29/16 1 1.1 1,160 950,000 950,000 818.97



3505 1/22/16 3 3.1 2,550 4,900,000 4,900,000 4,250,000 86.7% 111 1666.67

1803 1/15/16 3 2.1 2,340 4,395,000 4,050,000 3,700,000 84.2% 287 1581.2

2003 1/19/16 3 2.1 2,340 4,300,000 3,950,000 3,700,000 86.0% 162 1581.2

2303 2/10/16 3 2.1 2,340 3,695,000 3,695,000 3,200,000 86.6% 119 1367.52

2004 1/19/16 2 2.1 2,040 3,150,000 2,950,000 2,725,000 86.5% 392 1335.78

1206 3/21/16 2 2.1 2,040 2,250,000 2,250,000 2,050,000 91.1% 118 1004.9

Apogee

With a beautiful Asian-inspired architectural design, Apogee is one of the most luxurious condominiums in the

South of Fifth neighborhood. Rising 22 stories and comprised of only 67 residences, units here boast spacious

layouts and oversized balconies, allowing for incredible amounts of living space. Residents enjoy lavish amenities

throughout, including designer common areas, smart panel technology, state-of-the-art fitness center and spa,

infinity-edge swimming pool and much more.



http://www.worldwideproperties.com/featured-condo/apogee-south-beach

ActiveSales

ClosedSales

One of the most exclusive and expensive buildings in all of Miami, Apogee currently has six residences for sale. Expect to pay at least $2,500/SF to purchase a 3-bedroom residence here.

There were no sales at Apogee during 1Q 2016. There were also no sales during 1Q 2015 as well.


2104 8/17/15 3 4.1 4,154 19,975,250 19,975,250 4808.68

604 9/15/15 4 3.1 4,154 16,500,000 16,500,000 3972.08

1201 10/12/15 4 3.1 4,154 14,995,000 12,495,000 3007.94

801 7/23/15 4 3.1 4,154 13,450,000 10,950,000 2636.01

1203 9/28/15 3 3.1 3,103 8,495,000 8,495,000 2737.67

503 10/12/15 3 4 3,103 8,395,000 7,950,000 2562.04



n/a

PendingSales

There were no residences under contract to sell at Apogee at the close of 1Q 2016.


n/a

Murano at Portofino

Murano at Portofino is an affluent, 37-story waterfront residential development in Miami Beach, and a pioneering

tower in what has become the ultra-trendy South of Fifth (SoFi) district. Built in 2001, Murano at Portofino is

located directly on Biscayne Bay adjacent to the Miami Beach Marina. The complex has three tiers spread over

4.5 acres and 600 feet of bayfront.



http://www.worldwideproperties.com/featured-condo/murano-at-portofino

ActiveSales

ClosedSales

Located at the southern tip of the exclusive South of Fifth neighborhood, Murano at Portofino had eight residences available for sale at the close of 1Q 2016. Prices have remained relatively consistent, generally ranging from $1,550 to $1,800/SF.

No condos sold at the Murano at Portofino during the first quarter of 2016. Only two condos sold during 1Q 2015, with selling prices just under $1,300/SF.


901 7/21/15 3 3.1 3,365 6,590,000 5,950,000 1768.2

1802 2/11/16 3 3.1 2,618 4,100,000 4,200,000 1604.28

2604 2/6/15 3 3 2,190 4,250,000 3,675,000 1678.08

1503 11/18/15 2 2 2,008 2,950,000 2,950,000 1469.12

705 1/18/16 2 2 1,407 2,500,900 2,590,000 1840.8

1707 1/25/16 2 2.1 1,390 2,395,000 2,395,000 1723.02

1107 9/17/15 2 2.1 1,390 2,344,000 2,200,000 1582.73

TH-A10 12/14/15 1 1.1 1,207 1,050,000 999,999 828.5



n/a

PendingSales

Two units were under contract at Murano at Portofino - both 3/3.1 residences averaging $1,600/SF.


2202 3/16/16 3 3.1 2,618 4,300,000 4,300,000 1642.48

3402 2/1/16 3 3.1 2,618 4,495,000 4,100,000 1566.08

Murano Grande

Murano Grande is a large complex of three connected towers containing 270 residences and penthouses in a

variety of floor plans. The waterfront building towers over the South of Fifth neighborhood, providing residents

with magnificent views of the ocean and the city. Units are modern and ultra-luxurious, with gourmet-style

kitchens, indulgent baths, spacious living areas and designer fittings throughout.

400 Alton Road, Miami Beach, FL 33139Built in 2003

To view a list of currently available inventory, click here.To view a list of currently available inventory, click here.

PendingSales

There were no residences under contract to sell at Murano Grande at the close of 1Q 2016.


n/a

http://www.worldwideproperties.com/featured-condo/murano-grande

ActiveSales

ClosedSales

There were 29 available units at Murano Grande, all offering at least 2 bedrooms and 2 bathrooms. The majority of available units can be acquired for $800-$1,300/SF.

Two residences closed at Murano Grande over the past two quarters, with both sales occurring in March. Both sales had 2 bedrooms and 2.5 bathrooms, and sold for $920/SF and $1,383/SF respectively, with the price difference due to size and floor level. 1Q 2015 was much busier at Murano Grande, with eight sales averagine $1,392/SF.


2106/7 10/1/15 3 3.1 3,682 8,250,000 7,995,000 2171.37

2501 10/16/15 4 4.1 3,979 8,500,000 7,150,000 1796.93

LPH3 6/12/15 3 3.1 3,284 5,900,000 5,490,000 1671.74

3203 10/7/15 3 3.1 3,058 5,200,000 4,999,000 1634.73

PH06 10/16/15 2 2 2,183 4,100,000 3,899,000 1786.07

2003 7/10/15 3 3.1 3,058 3,840,000 3,799,000 1242.32

2806 3/7/16 2 3 2,183 3,649,000 3,649,000 1671.55

2206 1/29/16 2 2.1 2,024 3,485,000 3,485,000 1721.84

803 3/14/16 3 3.1 3,058 3,399,000 3,399,000 1111.51

703 3/22/16 3 3.1 3,058 3,100,000 3,100,000 1013.73

1106 12/7/15 2 3 2,024 3,218,000 3,000,000 1482.21

1001 2/2/16 2 2.1 2,003 2,800,000 2,690,000 1342.99

1908 9/3/15 2 2.1 1,600 2,399,000 2,250,000 1406.25

TH-4A 10/6/15 2 2.2 1,998 2,175,000 1,999,999 1001

2607 12/29/15 2 2 1,759 1,790,000 1,740,000 989.2

1110 5/12/15 2 2 1,548 1,890,000 1,659,000 1071.71

1507 10/6/15 2 2 1,658 1,595,000 1,595,000 962

910 3/30/16 2 2.1 1,548 1,550,000 1,550,000 1001.29

502 3/9/16 2 2.1 1,874 1,499,000 1,499,000 799.89

1405 1/5/16 2 2 1,400 1,380,000 1,380,000 985.71

1411 7/20/15 2 2 1,649 1,475,000 1,379,000 836.26

2407 12/29/15 2 2 1,658 1,535,000 1,365,000 823.28

610 1/15/16 2 2.1 1,548 1,290,000 1,290,000 833.33

2309 5/15/15 2 2 1,437 1,350,000 1,280,000 890.74

1709 11/11/15 2 2 1,437 1,295,000 1,250,000 869.87

1505 5/12/15 2 2 1,400 1,350,000 1,195,000 853.57

1905 10/1/15 2 2 1,400 1,590,000 1,179,000 842.14

705 10/20/15 2 2 1,400 1,199,000 1,139,000 813.57

1009 3/4/16 2 2 1,437 998,500 998,500 694.85



2406 3/18/16 2 2.1 2,024 3,250,000 2,975,000 2,800,000 86.2% 77 1383.4

1802 3/4/16 2 2.1 1,874 2,100,000 1,895,000 1,725,000 82.1% 205 920.49

Murano Grande is a large complex of three connected towers containing 270 residences and penthouses

in a variety of floor plans. The waterfront building towers over the South of Fifth neighborhood, providing

residents with magnificent views of the ocean and the city. Units are modern and ultra-luxurious, with

gourmet-style kitchens, indulgent baths, spacious living areas and designer fittings throughout.

Icon South Beach

ICON South Beach is a 40-story high-rise perched over Biscayne Bay, greeting you as you enter South Beach

from the MacArthur Causeway. The beautiful tower was created by Philippe Starck and the Related Group, and

delivers a lavish lifestyle for 290 condos, all of which include luxurious features such as walk-in closets, European

cabinetry, high ceilings and large terraces.

450 Alton Road Miami Beach, FL 33139Built in 2005


PendingSales

Three residences are under contract: all 3/3 units offering 2,158 SF of living space. Prices tend to vary based on floor level, with the higher units receiving a higher asking price.


2803 2/20/16 3 3 2,158 3,595,000 3,495,000 1619.56

3003 2/22/16 3 3 2,158 3,390,000 3,190,000 1478.22

1003 10/21/15 3 3 2,158 2,650,000 2,650,000 1227.99

http://www.worldwideproperties.com/featured-condo/icon-south-beach

ActiveSales

ClosedSales

There are 28 residences available at ICON, ranging in size from 851 to 3,185 SF. Generally speaking, 1-bed-room residences are asking $750-$830/SF while larger units on higher floors can ask north of $1,800/SF. Prices at ICON are more affordable than some of its neighbors, making it an attractive choice for buyers.

Four homes closed at ICON since January, double the amount during the same period last year. Many units were priced to sell, with three of the four residences closing for more than 90% of the original asking price. Prices ranged from $805/SF for a one-bedroom offering to nearly $1,350/SF for Unit 907, which sold for over 98% of its original asking price.


2507-1 3 3.1 3,185 7,250,000 7,250,000 2276.3

3301 3/2/16 3 3 2,145 3,985,000 3,985,000 1857.81

3001 10/15/15 3 3.1 2,145 3,975,000 3,975,000 1853.15

2202 9/19/12 2 2.1 1,933 2,189,000 3,789,000 1960.17

2302 11/9/15 2 2.1 1,933 3,200,000 3,200,000 1655.46

1903 12/14/15 3 3 2,158 3,000,000 2,975,000 1378.59

1502 1/5/16 2 2.1 1,933 2,695,000 2,775,000 1435.59

2707 3/17/16 2 2.1 1,815 2,550,000 2,550,000 1404.96

2102 10/13/15 2 2.1 1,933 2,495,000 2,495,000 1290.74

1702 3/3/16 2 2.1 1,933 2,495,000 2,495,000 1290.74

1107 1/5/16 2 2 1,815 2,450,000 2,350,000 1294.77

706/8 3/11/16 3 3.1 2,303 2,350,000 2,350,000 1020.41

3005 1/12/16 2 2.1 1,750 2,250,000 2,099,000 1199.43

3004 3/21/16 2 2 1,536 2,000,000 2,000,000 1302.08

1705 10/5/15 2 2.1 1,750 2,200,000 1,950,000 1114.29

1105 12/1/15 2 2.1 1,750 1,995,000 1,850,000 1057.14

2006 5/2/14 2 2 1,452 1,690,000 1,690,000 1163.91

2804 2 2 1,536 1,625,000 1,625,000 1057.94

1910 7/16/15 2 2 1,370 1,539,000 1,539,000 1123.36

3206 1/12/16 2 2 1,452 1,700,000 1,500,000 1033.06

1410 10/30/15 2 2 1,370 1,499,000 1,499,000 1094.16

1804 11/9/15 2 2 1,536 1,525,000 1,450,000 944.01

2106 7/15/15 2 2 1,452 1,475,000 1,395,000 960.74

706 3/11/16 2 2 1,452 1,375,000 1,375,000 946.97

2908 8/3/15 1 1.1 851 740,000 710,000 834.31

2408 8/3/15 1 1.1 851 690,000 690,000 810.81

1908 3/1/16 1 1.1 851 660,000 660,000 775.56

1208 4/6/15 1 1.1 851 699,000 655,000 769.68



907 3/17/16 2 2.1 1,815 2,495,000 2,495,000 2,450,000 98.2% 1349.86

3804 1/29/16 2 2 1,536 1,795,000 1,795,000 1,625,000 90.5% 57 1057.94

904 2/24/16 2 2 1,536 1,599,000 1,299,000 1,250,000 78.2% 29 813.8

3508 2/11/16 1 1.1 851 715,000 715,000 685,000 95.8% 50 804.94

Ocean House

One of South Beach’s most exclusive properties, Ocean House is a magnificent revamp of the historic Walburne

Hotel. Located in the chic South of Fifth district, the complex comprises only 28 units: nine lofts, 10 condominiums,

three penthouses, three cabanas and three two-story beach houses. All of the tower residences feature stunning,

unobstructed ocean views, private elevator and spacious floor plans from 1,300 to 6,200 square feet.

125 Ocean Drive, Miami Beach, FL 33139 Built in 2008


http://www.worldwideproperties.com/featured-condo/ocean-house

ActiveSales

ClosedSales

Six residences are available at Ocean House as of the end of the first quarter of 2016, all offering at least 2 bedrooms. Expect to pay approximately $1,500/SF or more for a residence here.

There were no sales at Ocean House during the first quarter of 2016. Three units closed during 1Q 2015, averaging over $1,900/SF.


U-0303 3/3/16 4 4.1 4,654 13,100,000 13,100,000 2814.78

U-0301 11/5/15 4 4.1 4,344 12,500,000 12,500,000 2877.53

U-0503 3/31/16 4 4.1 3,463 9,100,000 9,100,000 2627.78

L-0104 2/1/16 2 2.1 1,644 3,150,000 2,699,000 1641.73

L-0101 2/10/16 2 2 1,497 2,650,000 2,500,000 1670.01

F-0201 10/15/15 2 2.1 1,644 2,590,000 2,490,000 1514.6



n/a

PendingSales

One residence was under contract as of March 2016, a spacious 2/2 offered at nearly $2.1 million.


F-02023 3/9/16 2 2 1,661 2,095,000 2,095,000 1261.29

Murano at Portofino







Il Villaggio

Il Villaggio is an ultra-luxury Miami Beach condo set right on the water, featuring a stunning collection of

residences that come standard with floor-to-ceiling windows, large terraces, marble floors, Miele kitchen

appliances, luxurious bathrooms and more. Residents also enjoy concierge, valet, 24-hour security,

a sauna, private beach and heated infinity-edge pool, plus panoramic views and a quiet, lushly

landscaped setting.

1455 Ocean Drive, Miami Beach, FL 33139Built in 1999


http://www.worldwideproperties.com/featured-condo/il-villaggio

ActiveSales

ClosedSales

Six residences are available for sale at Il Villagio - ranging in size from 1,210 SF to 1,700 SF. Expect to pay approximately $1,100/SF or more for the privilege of ownership here.

There were no sales at Il Villagio in the first quarter of 2016. Two units closed here in the first quarter of 2015, both 2/2.5 units averaging $1,650/SF.


703 11/21/15 2 2.1 1,550 3,800,000 3,500,000 2258.06

602 12/24/14 2 2.1 1,700 2,599,000 2,450,000 1441.18

606 1/15/16 1 1.1 1,270 2,500,000 2,250,000 1771.65

1611 6/22/15 1 2 1,370 1,650,000 1,650,000 1204.38

811 8/13/15 1 2 1,370 1,495,000 1,495,000 1091.24

901 1/14/16 1 1.1 1,210 1,445,000 1,445,000 1194.21



n/a

PendingSales

There were no residences under contract to sell at Il Villagio at the close of 1Q 2016.


n/a

Murano at Portofino






The Setai

Soaring 40 stories tall, the Setai Miami Beach was built in 2004 and defines posh living. It contains 163 modern

residencves with spectacular panoramic views, as well as a five-star hotel. The hotel portion consists of an eight-

story building with 88 guestrooms and some of the region’s most acclaimed cuisine. The residences come in floor

plans, from one to five bedrooms, with deep private terraces and breathtaking views of the Atlantic Ocean.

101 20th Street, Miami Beach, FL 33139Built in 2004


PendingSales

There were no residences under contract to sell at The Setai at the close of 1Q 2016.


n/a

http://www.worldwideproperties.com/featured-condo/setai

ActiveSales

ClosedSales

One of South Beach’s most exclusive condominiums, The Setai is also one of its most expensive: expect to pay at or more than $2,500/SF to own here. Prices for larger residences on higher floors are asking more than $4,000/SF, due in part to dramatic views of the Atlantic Ocean and Miami Beach.

Despite an abundance of availability, no residences at The Setai closed during the first quarter of 2016. Four residences closed during 1Q 2015, including the sale of one of the penthouses. Average sold prices during 1Q 2015 was just over $3,600/SF.


TH A 11/12/15 4 4 3,627 16,900,000 15,900,000 4383.79

3709 11/2/15 3 3 2,521 13,500,000 13,500,000 5355.02

3809 9/25/15 3 3 2,521 12,800,000 11,900,000 4720.35

3509 3/28/16 3 3 2,521 10,950,000 10,950,000 4343.51

1701 2/12/16 3 4.1 3,691 7,950,000 7,950,000 2153.89

TH B 2/25/16 2 2.1 1,765 6,900,000 6,900,000 3909.35

2808 3/2/16 2 2 1,141 5,950,000 5,950,000 5214.72

1903/5 7/14/15 2 2.2 1,588 7,250,000 5,900,000 3715.37

2607 9/21/15 2 2 1,279 5,250,000 5,250,000 4104.77

TH E 9/21/15 2 2 1,565 4,995,000 4,995,000 3191.69

2108 10/15/14 2 2 1,242 5,950,000 4,950,000 3985.51

TH D 12/10/15 2 2 1,565 4,950,000 4,950,000 3162.94

2807 2/29/16 2 2 1,279 4,850,000 4,850,000 3792.03

1908 11/13/15 2 2 1,279 5,200,000 4,750,000 3713.84

1907 3/3/16 2 2 1,279 4,750,000 4,750,000 3713.84

2907 3/2/16 2 2 1,279 4,950,000 4,749,000 3713.06

3506 11/10/15 2 2 1,316 4,950,000 4,650,000 3533.43

2506 11/2/15 2 2 1,316 4,500,000 4,500,000 3419.45

TH C 1/6/16 2 2 1,565 4,395,000 4,395,000 2808.31

2401 9/18/15 2 2 1,198 4,650,000 4,290,000 3580.97

2106 7/10/15 2 2 1,361 4,700,000 3,995,000 2935.34

2206 2/10/16 2 2 1,316 4,295,000 3,995,000 3035.71

2204 10/6/15 2 2 1,247 4,199,000 3,500,000 2806.74

3302 1/26/16 2 2 1,213 3,450,000 3,125,000 2576.26

2304 3/28/16 2 2 1,141 2,990,000 2,990,000 2620.51

3004 12/2/15 2 2 1,141 3,350,000 2,950,000 2585.45

2104 7/8/15 2 2 1,162 3,400,000 2,899,000 2494.84

2605 6/3/15 1 1.1 821 2,490,000 2,490,000 3032.89

2505 2/12/16 1 1.1 821 1,999,000 1,999,000 2434.84

2503 2/29/16 1 1.1 767 1,990,000 1,990,000 2594.52



n/a

W Hotel & Residences

Set oceanfront, adjacent to Collins Park, the W South Beach Hotel & Residences puts you right in the middle of

the excitement. Every private residence at this stunning tower is fully finished and designed to meet your every

need. Owners can choose from a range of floor plans – including to-die-for penthouses – and enjoy full access

to the world of W luxury, with concierge services, beach club membership, tennis, basketball, spa and gym, fine

restaurants and more.

2201 Collins Avenue, Miami Beach, FL 33139Built in 2008


ClosedSales

Five residences closed at the W between January and March, ranging in price from $1,500/SF to more than $2,100/SF. All closed sales spent at least 2 months on the market, and the average price per square foot for units sold was over $1,850/SF. This amount represents a $200/SF increase over closed sales during 1Q 2015.

UNIT CLOSED DATE BD BA SQ. FT. ORIG. LIST $ List $ Sold $ SP/OLP % Days/Mkt $/SF

1204 1/26/16 3 2 1,729 4,300,000 3,750,000 3,400,000 79.1% 325 1966.45

928 3/22/16 2 2 1,350 3,850,000 3,395,000 2,900,000 75.3% 381 2148.15

819 2/12/16 1 2 1,026 1,750,000 1,750,000 1,600,000 91.4% 112 1559.45

1023 3/29/16 0 1 493 1,100,000 1,100,000 930,000 84.5% 61 1886.41

327 1/15/16 0 1 574 975,000 835,000 770,000 79.0% 1,051 1341.46

PendingSales

One residence is under contract to sell, a 2-bedroom residence for sale at nearly $2.5 million.


1411 3/25/16 2 2.1 1,287 2,485,000 2,485,000 1930.85

http://www.worldwideproperties.com/featured-condo/w-south-beach

ActiveSales

Known internationally, the W also happens to be the most active building analyzed in this report. There are 41 units for sale as of the end of March 2016. The majority of available units are studios or one-bedroom units, and owners can take part in the the hotel rental program to supplement their income.


PH 11/20/15 4 5 3,595 19,900,000 19,900,000 5535.47

UPH2 11/16/15 3 3.1 2,647 11,500,000 11,500,000 4344.54

1628 10/23/15 3 3.1 2,960 9,250,000 9,250,000 3125

1428/2 3/25/16 4 3 2,960 8,500,000 8,500,000 2871.62

1428/3 3/25/16 3 2 1,906 5,700,000 5,700,000 2990.56

1228/2 1/26/16 3 3 1,985 3,785,000 5,070,000 2554.16

BUNG 3 2/6/15 2 2.1 1,282 4,900,000 4,749,000 3704.37

1804 3/2/16 2 2 1,543 4,000,000 3,950,000 2559.95

612-14 12/17/15 2 2.1 1,715 3,980,000 3,795,000 2212.83

1228 11/20/15 2 2 1,350 5,600,000 3,785,000 2803.7

504 5/19/15 2 2 1,729 3,500,000 3,500,000 2024.29

1611 12/2/15 2 2.1 1121 3,000,000 2,800,000 2497.77

1614 12/18/15 1 1.1 1,157 2,350,000 2,350,000 2031.11

1722 1 1.1 1,026 2,385,000 2,300,000 2241.72

822 1/17/16 1 1.1 1,151 2,300,000 2,300,000 1998.26

1014 5/12/15 1 2 1,026 2,299,000 2,299,000 2240.74

914 12/2/15 1 2 1,026 2,275,000 2,275,000 2217.35

814 4/30/15 1 1.1 1,026 2,200,000 2,200,000 2144.25

522 5/19/15 1 1.1 1,151 2,200,000 2,200,000 1911.38

1615 1/5/16 1 1 1,151 1,900,000 1,875,000 1629.02

329 2/20/13 1 1 948 2,050,000 1,825,000 1925.11

1109 3/24/16 1 2 730 1,650,000 1,650,000 2260.27

1626 10/23/15 0 1 635 1,500,000 1,500,000 2362.2

826 4/6/15 0 1 563 1,350,000 1,325,000 2353.46

926 5/19/15 0 1 635 1,325,000 1,325,000 2086.61

1226 1/26/16 0 1 635 1,285,000 1,285,000 2023.62

1126 10/29/15 0 1 635 1,300,000 1,200,000 1889.76

718 5/19/15 0 1 574 1,150,000 1,150,000 2003.48

1503 2/3/16 0 1 490 1,150,000 1,150,000 2346.94

723 8/11/14 0 1 574 1,105,000 1,100,000 1916.38

1025 5/19/15 0 1 574 1,100,000 1,100,000 1916.38

1202 3/22/16 0 1 490 990,000 1,050,000 2142.86

1807 3/28/16 0 1 490 1,050,000 1,050,000 2142.86

1213 11/9/15 0 1 493 1,100,000 995,000 2018.26

602 3/23/16 0 1 490 990,000 990,000 2020.41

603 3/23/16 0 1 490 990,000 990,000 2020.41

1507 3/28/16 0 1 490 950,000 950,000 1938.78

423 11/18/15 0 1 574 975,000 949,000 1653.31

330 2/20/13 0 1 574 1,199,000 945,000 1646.34

302 1/5/16 0 1 574 890,000 880,000 1533.1

308 3/30/16 0 1 493 875,000 875,000 1774.85

South of Fifth (HQ)225 Collins AvenueSuite 101Miami Beach, FL 33139 USA

South Beach Branch1500 Bay RoadSuite 1, LobbyMiami Beach, FL 33139 USA

T: +1 305-531-3100 | F: +1 305-532-7935www.worldwideproperties.com

© 2016 Worldwide Properties I, Inc. The property information herein is derived from various sources that may include, but are not limited to, county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Not intended as a solicitation if your property is already listed with another broker. Worldwide Properties fully supports the principals of the Fair Housing Act and Equal Opportunity Act..

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