by Jamey on March 12, 2010
Image by Jamey Prezzi via Flickr
Recently I wrote about the details of Continuum Condos, now I am going to delve in a little deeper into the individual building market. Continuum Condos feature two different buildings: Continuum I and Continuum II.
Today I am going to specifically look into Continuum I.
Continuum I is the oldest of the two buildings and was built in 2002. It is located at 100 South Pointe Drive.
Currently in Continuum I there are 28 properties on the market. They are priced from $849, 500 for a one bedroom up to $6.65 million for a 5 bedroom 6 bathroom.
Over the last six months there were 19 sales in the building with closing sale prices from $375,000 for a studio to $6.25 million for a 4 bedroom 5 and half bath unit.
One of the units that sold was a 3 bedroom 4 and half bathroom 2365 square foot townhouse. It was listed at $2.495 million and sold for $1.75 million. It was on the market for 159 days.
A short sale that sold was listed at $1.45 million and sold for $975,000. It was a 2200 square foot 3 bedroom 3 bath unit.
Below is a list of all of the sales in the building over the last six months.
CONTINUUM I MARKET DATA
| SQUARE FOOTAGE |
#BEDS |
#FB |
#HB |
LISTING PRICE |
SALES PRICE |
| 5300 |
4 |
5 |
1 |
5,650,000 |
6,250,000 |
| 2508 |
3 |
3 |
1 |
3,995,000 |
3,150,000 |
| 2292 |
2 |
2 |
1 |
2,495,000 |
2,325,000 |
| 2365 |
3 |
4 |
1 |
2,495,000 |
1,750,000 |
| 2122 |
3 |
3 |
0 |
1,799,000 |
1,615,000 |
| 1870 |
2 |
2 |
1 |
1,749,000 |
1,400,000 |
| 1757 |
2 |
2 |
1 |
1,695,000 |
1,372,000 |
| 1735 |
2 |
2 |
1 |
1,650,000 |
1,150,000 |
| 1595 |
2 |
2 |
0 |
1,650,000 |
1,400,000 |
| 1735 |
2 |
2 |
1 |
1,600,000 |
1,530,000 |
| 1793 |
2 |
2 |
1 |
1,549,000 |
1,350,000 |
| 1595 |
2 |
2 |
1 |
1,485,000 |
1,305,000 |
| 2202 |
3 |
3 |
0 |
1,450,000 |
975,000 |
| |
2 |
2 |
1 |
1,399,000 |
1,300,000 |
| 1591 |
2 |
2 |
1 |
1,150,000 |
1,160,000 |
| 1365 |
1 |
2 |
0 |
900,000 |
855,000 |
| 1201 |
1 |
1 |
1 |
795,000 |
745,000 |
| 1201 |
1 |
1 |
0 |
795,000 |
755,000 |
| 0 |
0 |
1 |
|
375,000 |
375,000 |
by Jamey on March 10, 2010
Image via Wikipedia
The Continuum Condos are located in the popular South of Fifth area of Miami Beach.
The Continuum Condos are a two buildings:
Continuum I and Continuum II.
Their location is super appealing because they are situated on the tip edge of Miami Beach in the South Beach neighborhood South of Fifth. The Continuum Condos are popular buildings in both the rental and sales market.
They located within walking distance to some of the best restaurants and late night spots in Miami Beach like Prime 112, Nikki Beach, Taverna OPA, Joe’s Stone Crab, Smith and Wollensky’s and more.
Image via Wikipedia
Continuum I was built in 2002 and is located at 100 South Pointe Drive.
Continuum II was built in 2008 and is located at 50 South Pointe Drive.
The Continuum Condos are some of the most popular luxury buildings because:
-The location is unbeatable. Oceanfront, direct beach access, views of South Beach, Downtown Miami, Fisher Island, Government Cut and more.
-Literally if you are in the South Tower, you can sit on your balcony and practically touch a cruise ship sailing by in the evenings.
-The security is tight and professional from the moment you enter the grounds to the concierge services. Some units have private elevators while other units without feature limited access to other residents and guests.
-The property is gated and features two large lagoon style pools with towel service. Below is a picture on one of the pool areas in the newer Continuum II building. Private cabanas surround the pool area. These are purchased separately. Notice the fence that surrounds the grounds and then the immediate beach access. The tip top of this picture is the ocean. To the top right is the beach towel, chair and umbrella service for both buildings.
-Tennis
-Restaurant
-An incredible full service gym.
-The units vary in style because the individual owners had to finish out the units with flooring, paint/priming, some fixtures, blinds, etc… but generally speaking the units feature top of the line appliances line appliances and finishes. This picture is from a unit in the newer building Continuum II.
Over the last six months there were 27 sales in the buildings combined and posted on the MLS . Units sold from $375,000 for a studio up to $6.2 million for a five bedroom.
Over the last six months there were 51 rentals in both buildings and the units rented from $3000 per month for a one bedroom up to $21,500 per month for a four bedroom four bath unit.
The Continuum Condos are really two super unique buildings in the Miami Beach area. Their location, features, amenities and more are what allow them to command such prices and they are great properties to live in and enjoy the luxury lifestyle in Miami Beach.
Written and Posted by:
Jamey Prezzi – REALTOR®
Keller Williams Miami Beach Realty
Search all Miami Beach Apartments for Sale
Copyright © 2010 by Jamey Prezzi, All Rights Reserved …
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by Jamey on March 18, 2009
This morning I was doing market research based on the amount of rented units by building. I wanted to see which popular Miami Beach (South Beach area) buildings had the highest amount of rentals over the last six months.
Miami Beach
Over the last six months in Miami Beach there were 1,630 condos/town homes that rented & 1044 in South Beach alone.
South of Fifth Buildings: 224 Rentals over the last six months
**When looking at the selling price if it seems super high, divide it out by either six months or twelve months based on the listing price per month. Some agents put the “selling price” as the rented price per month, others enter the entire year. So for instance if the listing price is $1000 per month. The real selling price could be $1000 or $12,000 depending on how the closing agent entered this field.
Top 5 Popular South of Fifth Buildings based on rented units
#1. The Yacht Club is number 1 for rented units over the last six months with 45 rentals so far this year. I would assume it’s because they have more lenient renting policies in regards to lease terms. However, the application process is pretty thorough and strict.
90 Alton Road Miami Beach, Florida 33139
Real Estate Market Analysis Report for Rentals: The Yacht Club at Portofino
|
|
| |
Total Units |
Total SqFt |
Listing Price |
Selling Price |
SP/SqFt |
DOM |
| 0 |
1,920 |
$4,000 |
$4,000 |
112.5% |
187 |
| 0 |
740 |
$1,850 |
$1,500 |
$2 |
3 |
| 0 |
977.49 |
$2,764 |
$2,623 |
$3 |
68.42 |
| 0 |
1,080 |
$2,575 |
$2,500 |
$3 |
54 |
|
#2. Cosmopolitan: 16
110 Washington Avenue Miami Beach, Florida 33139
Real Estate Market Analysis Report for Rentals: Cosmopolitan
|
|
| |
Total Units |
Total SqFt |
Listing Price |
Selling Price |
SP/SqFt |
DOM |
| 0 |
1,247 |
$3,200 |
$22,800 |
$28 |
249 |
| 0 |
686 |
$1,750 |
$1,600 |
$2 |
6 |
| 0 |
887.6 |
$2,264 |
$3,453 |
$4 |
81.8 |
| 0 |
826 |
$1,962 |
$1,900 |
$3 |
51 |
|
#3. Murano Grande at Portofino: 15
400 Alton Road Miami Beach, Florida 33139
Real Estate Market Analysis Report for Rentals: Murano Grande at Portofino
|
|
| |
Total Units |
Total SqFt |
Listing Price |
Selling Price |
SP/SqFt |
DOM |
| 0 |
6,032 |
$25,000 |
$120,000 |
$40 |
255 |
| 0 |
1,400 |
$3,400 |
$2,850 |
$2 |
20 |
| 0 |
2,077.07 |
$7,103 |
$13,007 |
$5 |
98.6 |
| 0 |
1,658 |
$4,750 |
$4,500 |
$3 |
92 |
|
#4. Continuum II: 13
50 South Pointe Drive Miami Beach, Florida 33139
Real Estate Market Analysis Report for Rentals: Continuum II
|
|
| |
Total Units |
Total SqFt |
Listing Price |
Selling Price |
SP/SqFt |
DOM |
| 0 |
2,122 |
$11,500 |
$10,500 |
$5 |
231 |
| 0 |
1,365 |
$4,500 |
$4,200 |
$3 |
41 |
| 0 |
1,851.77 |
$8,192 |
$7,596 |
$4 |
118.15 |
| 0 |
1,869 |
$8,000 |
$7,750 |
$4 |
97 |
|
#5. Ocean Point: 12
345 Ocean Drive Miami Beach, Florida 33139
Real Estate Market Analysis Report for Rentals: Ocean Point
|
|
| |
Total Units |
Total SqFt |
Listing Price |
Selling Price |
SP/SqFt |
DOM |
| 0 |
769 |
$1,700 |
$14,400 |
$22 |
222 |
| 0 |
654 |
$1,100 |
$1,000 |
$2 |
26 |
| 0 |
670.92 |
$1,354 |
$2,498 |
$4 |
117.18 |
| 0 |
659 |
$1,300 |
$1,350 |
$2 |
116 |
|
Following closely behind are two other popular South of Fifth luxury buildings.
Icon: 11
450 Alton Road Miami Beach, Florida 33139
Real Estate Market Analysis Report for Rentals: Icon
|
|
| |
Total Units |
Total SqFt |
Listing Price |
Selling Price |
SP/SqFt |
DOM |
| 0 |
2,158 |
$8,000 |
$5,850 |
$3 |
252 |
| 0 |
851 |
$2,800 |
$2,500 |
$2 |
11 |
| 0 |
1,517.73 |
$4,895 |
$4,186 |
$3 |
81.18 |
| 0 |
1,536 |
$4,950 |
$4,500 |
$3 |
63 |
|
Continuum I: 10
100 South Pointe Drive Miami Beach, Florida 33139
Real Estate Market Analysis Report for Rentals: Continuum I
|
|
| |
Total Units |
Total SqFt |
Listing Price |
Selling Price |
SP/SqFt |
DOM |
| 0 |
2,122 |
$9,000 |
$78,000 |
$46 |
315 |
| 0 |
638 |
$2,750 |
$2,700 |
$3 |
56 |
| 0 |
1,473.6 |
$5,980 |
$12,470 |
$8 |
134.8 |
| 0 |
1,594.5 |
$5,825 |
$5,250 |
$4 |
127 |
|
The compilation of listing and market data information is provided by the REALTORS Association of Greater Miami and the Beaches. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties are subject to prior sale or rental.
I do my best to double check for accuracy, however I am human and errors can occur. Please contact me if you find something that doesn’t look correct and I will be happy to look into it and correct if necessary.
