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Casa Casuarina to the Highest Bidder on September 17

Wednesday, July 31, 2013

Casa Casuarina, more widely known as the Versace Mansion, will be auctioned at 10 am on September 17. It is the only home on Ocean Drive and, until recently, it was operated as a boutique hotel and private events venue by Peter Loftin, who has since filed for bankruptcy. Now the mansion is held by the lender VM South Beach. The property was listed last year for $125 million and has been reduced twice, first to $100 million, and most recently to $75 million. In order to qualify to bid on this historic home, bidders must submit $3 million as a deposit and prove access to $40 million. Bidding begins at $25 million. It is considered to be the auction of the century.

The mansion will be auctioned including all furnishings and finishes, which is no small amount. According to NBC sources, Versace put a reported $33 million in decadent renovations including a 24 karat gold lined pool, hand painted murals, and frescos by artists flown from Italy. The property is 23,462 square feet directly on the ocean and has 10 beds and 11 baths. It is conceivable that the home will sell for as little as $25 million. The number of record breaking sales in Miami in the past two years has many industry professional estimating that the property will sell for at least $50 million. If you are interested in submitting a bid, please contact me today or if you are interested in other properties in this area, there are a number to choose from.

 

Porsche Design Tower Broke Ground and is Expected to Break Records

Friday, July 12, 2013

Sunny Isles is home to some of the most incredible waterfront properties in South Florida, and since 2012 has been one of the largest growing areas in metro Miami. It is now the birthplace of a development that is making waves, not just in Miami, but all over the world. Porshe Design Tower broke ground earlier this year and has captured national attention for some of the most lavish amenities ever conceived, most notably an auto elevator that transports your vehicle to your residence, whether the residence is on the 2nd or 60th story. This property will be 60 stories high and house 132 luxury residences, amounting to nearly $400 million in sales.

Porsche Design Tower will take approximately 33 months to build and it is estimated to be complete and ready for occupancy in 2015. Each residence will range in size from 4,200 square feet to 17,000 square feet and the prices range from $4.5 million to $25 million. It will have the latest in amenities and the amenity that has garnered most attention is the automobile lift system that lets owners have views of their car from their residence. It also includes car concierge that coordinates washing, detailing, tire rotation, and more. Individual residences will have pre wiring and the latest in appliances and interior design. The market currently has no building that compares in scale and price to Porsche Design Tower.

Many were skeptical of the presale potential of this project, however they are all silenced as the building has already sold 70%. The president of Dezer Development, Gil Dezer, released the following statement to the Wall Street Journal regarding the success of the building and the strength of the South Florida marketplace, “The initial success of the sales process is a true testament to the new dimension Porsche Design Tower Miami is bringing to South Florida’s high-end real estate market.” Since the inventory of available properties is so restricted, international and domestic buyers are buying presale with increasing regularity. Complete details are listed below, and if you would like more information on Porsche Design Tower, please contact me today.

  • 132 Residences, 57 Stories, 3 Residences per floor, 2 private car garages for each unit.
  • Residences range from 4300 sf to over 10,000 sf, with penthouse over 14,000 sf.
  • Flexible floor plans 3,4,5,6 bedrooms depending on Model type.
  • Two-store lobby, Designed with the finest finishes and elaborate furnishings sourced from

around the world.

  • Car Elevator that travels at 600’ per minute
  • 24-hour Concierge, Security and Valet Services
  • Private Restaurant with outdoor seating and lounge bar
  • State-of-the-Art SPA, Fitness Center, Hair Salon
  • 10,000 Sq foot Oceanfront space ideal for displaying museum-quality, collectible automobile.
  • Expansive Beachfront pool deck with lounge seating and beachside cabanas
  • Most Residences feature balconies from 800 to over 1,600 sq ft.
  • Plunge pools and summer kitchens/ For individual Residences
  • Virtual Golf Simulator / Club House area
  • 4-Car Interconnected virtual race simulator / Club House area
  • Movie theater with stadium seating , for 25 guests
  • Card table and billiard area
  • Ballroom equipped with Bar & Catering Kitchen.
  • 2 Car Private Garages (Minimum)

Price Range and Deposits

Price Range: From $4.5 million to over $20 million

20% down at contract now

10% down at groundbreaking - @ First/ Quarter April 2013

Balance due at closing – January 2016

Porsche Design Tower Miami will only require 30% in deposits.

Virtual Tour Here! https://www.dropbox.com/sh/oh7siw6of98c08x/3KdRVnwOJ0

 

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