miami real estate

Villa Stella, Estate of the Day

Filed under: Estates

Villa Stella is a Moroccan fantasy on Miami's ritzy Star Island. This four-bedroom, two-story home on the water has four enclosed garages including two that are fully air conditioned. The formal arrival court can hold up to 15 cars.

Inside awaits a private sanctuary done in a bright yet soft palette. The home's 30-foot ceilings display handpainted murals and skylights by muralist Yves Lanthier and the decor also has Southwestern and Balinese influences. The master and guest suite rooms are on the upper floor and staff quarters and a garden guest suite are on the ground floor. The master suite includes lavish his and hers baths with semi-precious light-colored onyx flooring and vanities, multiple shower heads, whirlpool bath, and heated towel racks. An enclosed rooftop observatory offers a quiet place to enjoy views all around anytime of the day or night. Carved wood and elaborate tile details give this home an exotic feel.

The kitchen has double wall ovens, double Sub Zero refrigerators, two dishwashers and a Viking gas stove with grill. The saltwater keyhole-shaped pool and bayside gazebo with a relaxation bed and summer kitchen offer views across the bay to South Beach. The home has 100 feet of waterfront with a boat dock for a yacht and jet skis. The backyard includes a swing set and doll house. The home's technology includes security cameras 24/7, audio/visual controls, interior and exterior lighting controls in every room. This home is listed at $24 million with Sylvia Fragos of Great Estates International Realty.

Gallery: Villa Stella

Tags: estate of the day, florida real estate, miami real estate, star island

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Luxury Miami Project Goes Back To Lender

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

A luxury condo building in Miami Beach has gone back to its lenders. The Miami Herald reports that South of Fifth, a $73 million luxury condominium building has gone back to its lender, after a foreclosure auction. The project at 135 Ocean Drive, first went into foreclosure back in 2009 as the original developer struggled to pay back a $73 million loan to iStar Financial. The project was yet another South Florida victim of bad timing, it opened in 2009 just as interest and prices were tumbling in the area.

The Herald article describes the transaction as a friendly foreclosure: the lender obtained a final judgment of $90.8 million against defaulting developer BR Villa Luisa in December and took back ownership of the property Tuesday. Now it falls to iStar to sell the 29 available condos at the 32-unit property. Listings on the Kleer Team website say that they have been instructed by project lenders to sell at reduced prices to qualified buyers. Prices listed range from $400,000 to $6.8 million. Amenities in the building include valet parking; full-time concierge; a pool facing the ocean and whirlpool spa; fitness center; private lounge and more. Some residences have wrap-around balconies and penthouses have their own, 4,000-square-foot rooftop terraces with private pools and summer kitchens. Although this isn't great news, it seems like this foreclosure has been in the works for a while. Overall much of the real estate news we've seen coming out of Miami is pointing at a slow recovery in the sales of luxury condos.

Tags: condo development, condo developments, condo foreclosure, florida real estate, miami real estate, south of fifth

Boulan South Beach Goes On Sale In Florida

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

A recent article in the Miami Herald pointed out that South Florida's real estate market seems poised for a slow rebound. In fact, Miami-Dade condo sales showed 1,039 existing units sold in November, the first time since 2006 that condo sales topped 1,000 a month. Developers are also starting to bring new properties to market.

South Beach's newest condominium is Boulan South Beach. The six-story development was designed by Zyschovich Architects Inc.,and offers one and two bedroom units, ranging from 668 to over 2,000 square feet and penthouse condominiums with roof-top access. The 52-unit property is located in the heart of South Beach along Collins Avenue with easy access to restaurants, art galleries, night clubs, shopping and beaches. Boulan South Beach is ideally located between The W South Beach and The Setai South Beach.

Tags: boulan south beach, condominiums, miami real estate, south beach, south beach florida

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Shawn Marion Offers Superbowl Tickets To The Buyer Of His Miami Home

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping, Sports, Real Estate Developments

NBA player Shawn Marion is taking a proactive approach when it comes to selling his Miami home. The Dallas Mavericks player is offering round-trip private jet service (Miami-Dallas-Miami) and four club level tickets to the Superbowl to be held at Cowboys Stadium in Arlington, Texas on February 6, 2011 to anyone who buys his six-bedroom home in the waterfront guard-gated community of Cloisters on the Bay. The deal applies to a buyer who closes by 5:00 PM EST on December 31, 2010 for the asking price of $2,000,000. The listing can be found by visiting http://www.ShawnMarionHome.com

The home is the largest and one of the newest (built in 2008), in Cloisters on the Bay. It has a rooftop terrace that measures more than 2,300 sq. ft.; an outdoor hot tub; two barbeque grills; plunge pool and spa; formal dining room and an entertainment level.

"This villa is more than just a house. It's truly an amazing home for a celebrity, professional athlete, or any other party who seeks the best Miami has to offer," said listing broker Darren Weiner of Antigen Realty.
This isn't the first time we've seen a sports star make a bold move to sell a house. Last year Atlanta Falcons tight end Tony Gonzalez and his wife, October threw in the offer of a Porsche to try and sell their Manhattan Beach, California home when it was listed for $3.6 million. Since then the price has dropped to $3.112 million.

Gallery: Shawn Marion in Miami

Tags: celebrity real estate, florida real estate, miami real estate, shawn marion, sports star real estate

Antoine Walker Facing Foreclosure

by Deidre Woollard (RSS feed) —

Filed under: Estates, Sports

Another former athlete is facing foreclosure. Housing Watch reported that former NBA star Antoine Walker, who has been trying to sell his Miami home since late last year, filed Chapter 7 bankruptcy in a Miami court. At that time he listed liabilities of $12.7 million including his Coconut Grove home. Mortgage lender SunTrust Bank was granted a relief from stay from a May Chapter 7 bankruptcy protection filing Walker made in Miami so that it could file a foreclosure lawsuit which it did in September.

Last year we wrote about Walker's debt situation after we learned that he had been arrested in a Lake Tahoe casino for writing bad checks to satisfy over $1 million in casino markers in Las Vegas. Walker is a known gambler who reportedly once played $15,000 hands with another known gambler, basketball great Michael Jordan.
J.P. Morgan Chase Bank, Wachovia Bank, and American Express Centurion Bank all won decisions against Walker for failing to pay off promissory notes. Over a decade ago when Boston signed him to a six-year, $71 million deal he was, at just 22 years old, instantly insanely wealthy. During the Boston Celtics season Walker stayed at the Bishops Forest condominium complex in Waltham and was known to have a variety of luxury cars including customized Bentleys, Mercedes and more. He also had a taste for expensive watches by Rolex and Cartier and enjoyed wearing custom-tailored suits. In 2007 Walker was robbed at gunpoint in his Chicago home. He bought the home for $4.1 million but put it on the market for $3.9 million after the robbery. In 2007 he also sold a townhouse in the same neighborhood for $1.39 million, he had bought the home for $1.3 million in 2004.

Walker bought the Florida home for $3.1 million in 2005 and signed the $2.15 million mortgage in March 2007, when he was still playing for the Miami Heat but like many players, he was traded around, first to Minnesota and later to Memphis. He retired in from the NBA in 2008. The five-bedroom home is now listed at an even $3 million with real estate agent Andre Shambley of the ERA Herman Group. The Coconut Grove home has a lap pool, Zen garden, a mother in law suite, separate maids quarters, walk in closets and more.

A Crain's Chicago Business article from last May says that Walker was hit with a $2.3-million foreclosure lawsuit on a mansion in south suburban Tinley Park that he bought for his mother. That article also goes into Walker's Chapter 7 filing which lists his other assets including his 2006 NBA championship ring, valued at $6,000 two Range Rovers and a $20,000 designer watch.The article also mentions gambling losses including $770,000 owed to Harrah's in Las Vegas and $500,000 owed to Ameristar Casino.

Gallery: Antoine Walker in Coconut Grove

Tags: antoine walker, celebrity foreclosure, celebrity foreclosures, celebrity real estate, florida real estate, miami real estate, sports stars real estate

Residences at Vizcaya, Luxury in Coconut Grove

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

The South Florida real estate market can use a little good news lately. One new project in Coconut Grove is the Residences at Vizcaya. The project is a newly designed residential condominium project on two acres. The development includes 18 residences. In the past few months Residences at Vizcaya sold 13 condos leaving only five remaining.

Tags: florida real estate, miami real estate, residences at vizcaya

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Jennifer Lopez and Marc Anthony Buy At The Icon Brickell

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

We first heard in April that Jennifer Lopez and Marc Anthony were checking out the Icon Brickell in Miami but now they have made it one of their many homes. Anthony gushed about the purchase to People Magazine Monday night during halftime of the Miami Dolphins vs. Indianapolis Colts football game at Miami's Landshark Stadium. He told the magazine that once they are through decorating it will be "the sexiest place in town." Anthony is a minority partner in the Miami Dolphins team.

The condo is a three-tower condominium designed by Philippe Starck in a complex that includes the Viceroy Miami Hotel. It's a bright spot in a condo market that continues to be fighting sluggish sales. Building amenities include multiple pools, a spa and fitness center, five restaurants, rooftop pool club, concierge and valet services.

Lopez and Anthony have multiple homes in New York and Los Angeles. Their Bel Air home remains on the market at $7.9 million.

Source

Tags: celebrity real estate, CelebrityRealEstate, icon brickell, IconBrickell, jennifer lopez, JenniferLopez, marc anthony, MarcAnthony, miami real estate, MiamiRealEstate