by Jamey on November 23, 2009
Over the last 90 days in Miami Beach there were 938 Miami Beach rental properties that rented through the MLS.
One of the most expensive units that rented was a 3010 square foot 4 bedroom/4.5 bath unit in the Continuum North tower. Continuum is located at 50 S Pointe Drive in the high end luxury are of South of Fifth. It rented for $12,000 per month.
The Yacht Club at Portofino also in the South of Fifth area located at 90 Alton Road had an impressive 23 rentals. The most expensive was a furnished 4 bedroom/ 3.5 bath that rented for $3500 per month, while the least expensive was a 1 bedroom/1 bath unit that rented for $1650 per month.
The Waverly located just off Biscayne Bay in South Beach in the West Avenue neighborhood, came in right behind the Yacht Club with 22 rented units. The most expensive unit that rented was a 1262 square foot, furnished, 2 bedroom/2 bath. It rented for $3450 per month. The least expensive one bedroom was a 793 square foot, 1 bedroom/1 bath and it rented for $1500.
Just to name a few of the most popular Miami Beach Buildings:
- Flamingo 1500 Bay Road/ 18 rented units
- ICON 450 Alton Road / 15 rented units
- Bentley Bay 540/520 West Avenue / 15 rented units
- Floridan 650 West Avenue / 12 rented units
- Cosmopolitan 110 Washington Avenue / 10 rented units
- Akoya 6365 Collins / 10 rented units
- Capri South Beach / 5 rented units
It just goes to show that rentals are still a hot commodity in Miami Beach. Prices have come down over the last year but units are still renting. In the luxury buildings, rental units still fetch a pretty high end price tag per month.
by Jamey on January 27, 2009
I want to talk a little bit about a building that some times gets overlooked but I think is a really great building in the South Beach area.
The Yacht Club at Portofino
The Yacht Club at Portofino is located in the SOFI area of South Beach of Miami Beach. It is located at 90 Alton Road. Built in 1999, the Yacht Club at Portofino is one of the older high end luxury buildings in the South of Fifth Area. It is located on the bay side of Miami Beach, with direct views of Brickell, downtown Miami, Fisher Island, Miami Beach and more. There is a marina that is located off the back side of the building.
Based on experiences working with different clients in the building, I really like the Yacht Club. The employees are always very nice, thorough and efficient. The security for the front door has always been in my opinion very strong. For new tenants the management company is very organized, efficient and the building has good rental policies. It is also a dog friendly building (with of course some restrictions). The building has 24 hour security, valet service, concierge, gated garage parking, pool, gym and tennis.
I think in some searches (rentals and sales) the Yacht Club may be overlooked a little because some of the units can be a little dated depending on how the owner took care of the property. Afterall it was built in the 90’s. However last year this building was hot in sales and rentals.
In 2008 there were 25 Sales in the Yacht Club
Based only on MLS data.
Market Analysis Report
|
|
| |
Beds |
Baths |
SqFt |
Listing Price |
LP/SqFt |
Selling Price |
SP/SqFt |
SP/LP |
DOM |
| 3 |
2 |
1,750 |
$880,000 |
$730 |
$848,888 |
$708 |
96.97% |
629 |
| 1 |
1 |
740 |
$419,000 |
$462 |
$380,000 |
$436 |
73.08% |
0 |
| 1.72 |
1.64 |
1,035.08 |
$610,476 |
$601 |
$558,076 |
$548 |
91.31% |
151 |
| 2 |
2 |
1,090 |
$575,000 |
$601 |
$520,000 |
$542 |
93% |
83 |
|
In 2008 there were 82 Rentals in the Yacht Club
Market Analysis Report
|
|
| |
Total Units |
Total SqFt |
Listing Price |
LP/SqFt |
Selling Price |
SP/SqFt |
SP/LP |
DOM |
| 0 |
1,920 |
$7,500 |
$5 |
$15,000 |
$20 |
600% |
438 |
| 0 |
740 |
$1,850 |
$2 |
$1,750 |
$2 |
71.43% |
0 |
| 0 |
1,011.42 |
$2,993 |
$3 |
$3,009 |
$3 |
101.35% |
75.84 |
| 0 |
1,080 |
$2,900 |
$3 |
$2,700 |
$3 |
94.29% |
59.5 |
|
WOULD YOU LIKE MORE INFORMATION ABOUT THE YACHT CLUB OR OTHER SOUTH BEACH RENTALS OR SALES? CONTACT ME TODAY: 305-793-8965
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.
by Jamey on August 25, 2008
This data is based on Yacht Club at Portofino, 1 bedrooms current Active, Closed and Pending Sales for this year.
