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Market Report

Today's Real Estate Along Florida's East Coast

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ONE Sotheby’s International Realty is proud to present the only market report focused on Florida’s East Coast. From Miami to Amelia Island, data is presented from a macro perspective down to city level.

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1568 Washington Ave., Miami Beach

A development site in the Flamingo/Lummus neighborhood of South Beach hit the market, and could sell for at least the mid-$30 million range, according to the listing brokerage.

The site includes seven multifamily and retail buildings on 1.4 acres at the southwest corner of Washington Avenue and 16th Street in Miami Beach. It includes 98 apartments and about 10,600 square feet of retail across 13 spaces, for a total of almost 64,000 rentable square feet.

The unpriced portfolio was built over 40-plus years by the owner, according to a release. The seven buildings are owned by Gladisco Inc., headed by Roberto Datorre, records show. The buildings date back as early as the 1920s.

Notable tenants include the Chalan on the Beach restaurant, the Bikini Chic swimwear store and a cyber cafe. Several redevelopment projects are planned for Miami Beach’s Washington Avenue, including hotels and retail projects.

In July, Massa Investment Group bought the Paris Theater at 550 Washington Avenue for $13 million.

Among other recent commercial sales in South Beach, investor Jimmy Resnick sold a 16,441-square-foot retail building at 955 Alton Road in May for $9.25 million.

The fashion designer is listing the 22-acre property amid a ‘very strong’ market driven by New Yorkers relocating to the tony Connecticut town.

Designer Tommy Hilfiger may be known more for his all-American clothing brand, but he is also a prolific house renovator: He has fixed up and sold seven homes in the wealthy town of Greenwich, Conn., over the last 35 years.

Now, at a time when New Yorkers fleeing the pandemic are driving up Greenwich property values, Mr. Hilfiger is listing yet another Greenwich home, a sprawling French Normandy-style estate, for $47.5 million.

“I hear from my friends in real estate that the market is very strong, and it hasn’t been this strong in years,” noted Mr. Hilfiger, who said he is heading to Palm Beach, Fla. He and his wife Dee Ocleppo Hilfiger had been considering the move for some time, but Covid-19 accelerated their timeline.

The Hilfigers bought the roughly 22-acre Greenwich property in 2010 for $31.375 million, records show. Known as Round Hill for its position at the top of tony Round Hill Road, the property was built in 1939 for real-estate investor Charles Vincent Paterno. It was also the onetime home of financier and prolific art collector Joseph Hirshhorn.

Starting in the 1960s, Mr. Hirshhorn stored his vast collection of 19th- and 20th-century art at the property before much of it was relocated to the Hirshhorn Museum in Washington, D.C., according to listing agency Sotheby’s International Realty.

Mr. Hilfiger said he and his wife fell in love with the “Old World charm of the house,” which had fallen into disrepair, and spent three years working to bring it back to its original glory.

They redid all the house’s mechanicals, rewiring and adding new plumbing and ventilation. They also replaced the roof, commissioning a company in Turkey to fabricate the unusual terra-cotta tiles to match the originals. They hired landscape architect Miranda Brooks to reimagine the gardens with boxwood hedges and fountains.

Mr. Hilfiger called the project a labor of love, and said he spent millions on the project. “It was frustrating and took a lot of patience,” he said.

Inside, the décor of the 13,344-square-foot home reflects the couple’s extensive travels. A screening room takes its inspiration from Ms. Hilfiger’s Turkish heritage, with hand-painted fabric walls inspired by tiles the couple saw in a palace in Istanbul. The large family room has custom plasterwork ceilings and an 18th-century French fireplace. A dramatic carved oak staircase connects the floors.

Our founder and CEO talks about resilience in difficult times, her passion for agent success, and the ongoing quest for balance. An exclusive interview with Lifestyle Magazine.

With Covid now, what’s your biggest challenge to balance personal life and running a business?

When the business environment started to shift in the wake of COVID-19, my focus went to the almost 1,000 ONE Sotheby’s International Realty agents that needed our team’s support. Our team’s every thought was about leveraging our technology and tools to keep our agents productive. We reinvented the business in a matter of weeks, boosting our virtual marketing efforts, launching seven new tech tools in less than 90 days. We promoted more marketing content than ever, and communicated on a daily basis with agents. I am so proud of our agent’s resilience during this time and I know this experience is makings us smarter and stronger for the future. During all this time, because of social distancing, I stayed in touch with my family through calls and video, which was a new experience and a big adjustment, since family is vital to me. I can’t wait to embrace my grandchildren! Now I am starting to feel ready to catch a break and invest on self-care more. It’s all about creating balance and focusing on areas that need attention at different times.

What advice would give young women?

Young women connect with my story. I built a business from the ground up and today enjoy offering opportunities for others to grow. My number one advice is: Align yourself with smart mentors and people who believe in your talent and can help you learn and grow. At ONE our staff and agents thrive through true diversity, and we embrace inclusion since we want to have a staff as diverse as the clientele we serve. Everyone brings a fresh perspective! I love collaborating with young women that are expanding their businesses as real estate agents. There is no better time to innovate in this field and I encourage women to: take charge of your destiny, find a great network to support you… the sky is the limit.

What advice would you give to other women entrepreneurs?

Stay true to your vision and to your values. Work harder than anyone else in the room. Find great partners and smart minds that complement your expertise. Real estate is a competitive area and I believe that aligning yourself with a strong brand and company that will open doors to new opportunities is key.

What are you and/or your company doing to stay relevant during these challenging times?

We love being first and bringing innovation to the business of real estate. We are thriving in a virtual world – many of our agents are showing homes virtually, getting offers and closing – all through technology and without meeting in person. Very exciting times! We continue to listen and collaborate closely with our agents – they are truly the best in the business and their ideas inspire me every day. That’s my plan – to continue to collaborate with these brilliant minds, to empower our staff to grow and create new ways to market, and to elevate this business we love.

Leave it to Sotheby’s International Realty top real estate agents to travel the world and know all about the most exciting destinations. As interest in Florida’s real estate market increases, we asked agents from top markets what they love most about Florida’s East Coast. From childhood nostalgic stories to on trend cosmopolitan lifestyles, these expert agents are weighing in on what Florida means most to them and why it continues to allure clients from the Northeast and beyond.

Kristi Ambrosetti, based in New York City, appreciates Florida’s unique elements that seamlessly come together to present what our clients adore most in a second home. These include exceptional lifestyles, culture, restaurants and exemption of taxes.

“Florida offers the ideal synergy with my client’s lifestyles in New York,” says Kristi Ambrosetti. “In just two hours, they can fly, head to the beach and enjoy a gorgeous cocktail along the coastline’s unparalleled ocean views.”

Others gravitate towards Miami Beach to visit friends or experience lively entertainment.

“Whether if it’s for personal development or a Tony Robbins event, I usually stay at the W South Beach or The Standard Spa, Miami Beach,” says Christian Bindel, based in New York City. “Channeling the best of Miami, both hotels fuse modern designs with Art Deco architecture together to perfectly complement one another.”

However, most recently, Christian Bindel has heard from clients interested in Brickell. Many of his clients are also buying in Coconut Grove and Fort Lauderdale, which has shown tremendous growth.

“Fort Lauderdale has a performing arts center, where visitors can see their favorite Broadway shows, and the world famous NSU Art Museum which is curated by Bonnie Clearwater,” says Laurie Silverman, based in New York City. “Outside of a burgeoning arts and culture scene, Fort Lauderdale offers a laidback ambiance with quaint streets like Las Olas Boulevard. In addition, some of the world’s most beautiful marinas exist there, making it a prime destination for the annual boat show.”

Nevertheless, when Laurie Silverman is in Miami, some of her most beloved suburbs to visit are Golden Beach and Bal Harbour. Golden Beach, a small family-friendly town is picture-perfect for families looking to settle down with 60 private homes offering direct oceanfront views, whereas Bal Harbour is idyllic for its glamorous shops.

“It encompasses an European feel, reminding me of Forte Dei Marmi in Italy,” says Laurie Silverman. “Here, residents and visitors can find a trove of luxury boutiques minutes from the beach. Similarly, Bal Harbour is ideal for vacationing year-round. Situated off the Atlantic Ocean, high-end condominiums line the shoreline and a string of stunningly beautiful homes soak up the neighborhood’s charm on the Intracoastal Waterway.”

Christa Frosch who is based in Canada and is representing a luxury listing that set the record for the highest priced home in Vancouver’s history lends Florida’s sought after popularity to its climate, food and character.

“Everyone is friendly,” says Christa Frosch. “It’s a safe, relaxed and happy place to live and the tax benefits are great. Overall, it is a wonderful environment to enjoy life.”

When traveling up north to Palm Beach, agent Julie Harron from Chicago favors Palm Beach County most for its tennis, golf and fitness scene.

“I usually start my day on the Lakefront Trail or with a fitness class at Tracey Anderson’s Pop-Up studio,” says Julie Harron. “After exercising, one of my favorite outposts to grab a cappuccino and gelato at is Sant Ambroeus on the island. We have clients who flock down to Palm Beach County especially for this unique type of active lifestyle.”

From Palm Beach to Melbourne and Downtown Miami to Coral Gables, there are endless reasons why expert agents in top feeder markets continue to love Florida’s East Coast. Between its unspoiled seascape to its elegant lifestyles, clients are drawn to its ambience, eager to experience its warm and gracious golf, tennis and family-friendly atmosphere. With an increase in interest in Florida’s East Coast real estate market, agents and buyers are excited to explore this sophisticatedly tropical region, discovering new suburbs, restaurants, shops, marinas and beaches throughout the coastline.

We are thrilled to announce that ONE Sotheby’s International Realty has been recognized for two Hermes Creative Awards 2020! This achievement is a testament to our company’s mission in providing the latest and most innovative technology through both our digital and marketing departments. The Hermes Creative Awards is one of the oldest and largest creative competitions in the world, with participants ranging from individuals to media conglomerates and Fortune 500. As Covid-19 continues to push all aspects of business and marketing into a virtual world, we are proud to expand our digital offerings and campaigns with award winning resources, tools and big ideas that steadily keep our agents among the best along Florida’s East Coast.

2020 Hermes Creative Awards

PLATINUM: New Website Redesign focused on improved design, user interface, and tech capabilities.

The new award-winning ONESothebysRealty.com launched in the middle of the pandemic to rave reviews. Since the launch of the site web traffic has increased 400%+ attracting new users and capturing leads. The updated design features an enhanced property search page, a neighborhood section with properties by lifestyle categories and an updated Development section with detailed information on each project. It also allows agents to have their individual sites that show all current listings, contact info and more.

GOLD: “ONESIR Obsessed” Social Media campaign.

This “Obsessed” campaign supported the launch of the new website, and focused on the brand’s “obsession” for impeccable service, reliable market data and the laid-back lifestyle found along Florida’s East Coast. Its purpose was strengthen our reputation as real estate leaders in a way that was relevant to all price points with the goals of driving leads to the website and helping agents effectively promote their listings. All assets created were highly visual with bold headlines and distributed across social media channels Facebook, Instagram, Twitter and YouTube. There were also graphic social media and email templates shared with agents for their use on personal networks, which quickly went viral.

South Beach is all about the lifestyle. It’s easy to see why South Beach is one of the top destinations around the globe. A tropical ocean-front paradise just 2.5 miles long of prime South Florida real estate. The Atlantic Ocean coupled with lush ocean-front parks, soaring luxury condominium towers and brightly colored Art-Deco architecture with a world-class culinary and nightlife scene, the South Beach experience is second to none.

For real estate aficionados, South Beach is hotter than ever with the alliance of two powerhouse brokerages: ONE Sotheby’s International Realty, Florida’s East Coast leading luxury real estate brokerage, announced a merger with full service real estate firm Worldwide Properties. Led by partners J. Eddy Martinez and Roland Ortiz, Worldwide Properties will be merged into the daily operations of the company, granting its agents access to the comprehensive marketing, technology, training and referral opportunities provided by the Miami-headquartered real estate market leader.

As part of ONE Sotheby’s International Realty’s aggressive growth strategy aimed at attracting leading industry talent, the acquisition will bring onboard Worldwide Properties’ more than 30 agents, currently operating under the team name Worldwide Group.

Based in South Beach, Worldwide Properties associates are experts in the Miami Coast, and particularly the hip South of Fifth area. A full-service residential brokerage firm, they bring an impressive $80M portfolio of properties that will be now marketed under the ONE Sotheby’s International Realty property distribution platform, as well as $26M in pending sales, including condos and high-end towers.

The Waterfront Team, 320 W. Dilido Drive

South Beach Living

At the luxurious Miami Beach towers, Continuum on South Beach, a private oceanfront oasis

offers its residents unparalleled amenities. This includes having your own tennis club with Har-Tru courts, a private Italian restaurant “The Patio”, a beach club, a fitness / wellness / spa center, two seaside lagoon pools and one sunset lap pool. A true sense of private club living is felt throughout the property.

With the strong luxury real estate market demand for 3,000 + SF floor plans, units are selling at higher rates than at the peak of 2015, and in a shorter period of time, at the Continuum.

Worldwide Group just launched the sale of Continuum South 100 S Pointe Dr. Unit #1409, a fully upgraded 2/2.5 direct east, all glass prime corner unit with one of the largest terraces available. Worldwide Group is also currently pre-marketing a combined corner residence 01/02 line in the South Tower with over 37’ of continuous glass walls, bringing the stunning outdoor Fisher Island views right into the living room. See more Here.

400 Alton Rd, #2604

450 Alton Rd 3404

450 Alton Rd 2407

South Beach, a South Florida Icon

The beaches in SOBE are as diverse as its residents. The South of Fifth area (1st Street to 5th Street) provides a more secluded, resort feel with direct access to South Pointe Park. In the mid-section of South Beach from 5th Street to 16th Street you can find the party revelers and tourists, barely there swimwear and exotic cars parked all along Ocean Drive. The most northern section of South Beach is home to the Iconic Art Deco Hotels topped off by the W South Beach, and 1 Hotel South Beach luxury resorts.

Ocean Drive and Lummus Park have beautiful paved paths for walking, biking, a plethora of beach volleyball courts, newly designed muscle beach with artfully sculptured gym equipment, playgrounds, year-round festivals, concerts and more. Lummus Park is lively every day of the week with people from all walks of life and visitors from around the world.

50 S pointe 2802

100 S pointe 1201/02

100 S pointe 1409

South Pointe Park & Pier at the southernmost tip of South Beach is one of Miami’s most breathtaking parks, this sprawling 17-acre urban park designed by Hargreaves Associates Architects has jaw-dropping views of downtown Miami and Fisher Island and of a government cut where cruise ships parade out at sunset hour. The newly constructed South Pointe Pier is a favorite view-vantage point and also offers fishing amenities. Local favorite, Smith and Wollensky is right on the water’s edge for a lively al-fresco lunch or dining and happy hour within the park.

Flamingo Park is perfectly situated in the heart of SOBE. A sprawling 36 acres for the entire family to enjoy numerous fitness activities including an aquatic center, tennis & basketball Courts, baseball fields and ¼ mile track.

Meridian Avenue runs the length of SOBE and is a favorite tree-lined street among locals that provides a shade canopy for its resident Art Deco architecture and runs parallel to Flamingo Park.

Complete with an 18-hole golf Course, located on the north end of SOBE, The Miami Beach Golf Course is open to the Public and accessible 365 days a year.

Sunset Harbour is a relatively newly developed area in Miami Beach located on Biscayne Bay near Lincoln Rd. This trendy area with a laid back, California vibe is perfect for local residents to enjoy boutique shopping, numerous fitness, yoga and cycling studios, healthy eateries and juice bars as well as and lively fine dining scene all within walking distance.

125 Ocean Dr, #U-0201

New Beginnings: ONE Sotheby’s Realty and Worldwide Properties

ONE Sotheby’s International Realty’s new partnership with Worldwide Properties will significantly expand the company’s presence in South Beach, adding a new office location on Collins Ave. We look forward to the continued success of these 30+ new agents, now under the #ONESIR leadership along with partners J. Eddy Martinez and Roland Ortiz. Make sure to follow the them at @worldwideproperties for the hottest South Beach listings.