Miami

Tag: Miami

Lopez e Affleck

Gianluca Vacchi’s $4 Billion Miami Real Estate Play: From Social Media Star to Development Mogul

By Columbus International,

In a landmark partnership reshaping Miami’s skyline, Italian business titan Gianluca Vacchi and acclaimed developer Michael Stern have joined forces to lead $4 billion in transformative South Florida projects, marking an unprecedented alliance in the region’s real estate history.

COLUMBUS INTERNATIONAL – HOME FOR SALES AND FOR RENT IN MIAMI

Personal Portfolio

Before his major development partnership with Stern, Vacchi made significant personal investments in Miami real estate. In a notable move, he acquired a waterfront Miami Beach home for $24.5 million from developer Valerio Morabito and model Vita Sidorkina-Morabito. The luxurious property features:

  • 150 feet of water frontage
  • Seven bedrooms across 12,700 square feet
  • A screening room
  • 7,400 square feet of terrace space
  • A 90-foot swimming pool
  • Reflecting pools framing the entry
  • A roof terrace with ocean views

The teak, glass, and stone house represents Vacchi’s commitment to architectural excellence. His Miami portfolio previously included a 7,000-square-foot Miami Beach penthouse, which he listed for $10.9 million in April.

The Power Partnership

The collaboration brings together two distinct forces in business: Michael Stern, founder and CEO of JDS Development Group, known for architectural landmarks like New York’s 111 West 57th Street, and Vacchi, a social media titan with over 47 million followers who recently made headlines for selling his stake in IMA Group at a $7 billion valuation.

Landmark Projects

Their partnership has already launched two of Miami’s most ambitious branded real estate projects:

888 Brickell Dolce&Gabbana

This luxury development represents Dolce&Gabbana’s first venture into the U.S. real estate market. The project will become Miami’s tallest tower, featuring:

  • 259 residences
  • Six food and beverage outlets
  • A signature ground-floor restaurant
  • Two bars in the Grand Lobby
  • A Pool Club restaurant and bar
  • Demo kitchen and private dining facilities

Mercedes-Benz Places

Currently the largest mixed-use development under construction in Miami, this 67-story project includes:

  • Over 130,000 square feet of amenities and hospitality space
  • 250,000 square feet of commercial space
  • A 174-key hotel
  • Retail outlets
  • Innovative mobility solutions
  • Reimagined Southside Park

The Mercedes-Benz project has already broken Miami sales records, with over 100 condominiums sold within weeks of launch.

From Manufacturing to Real Estate

Vacchi’s entry into real estate follows an impressive business trajectory. During his tenure at IMA Group, he helped grow the company from $100 million to over $2.5 billion in sales. His first Miami property purchase in 2015 marked the beginning of his investment in the region, operating through GV Development Group, a U.S. real estate division of his Cofiva Holding.

Beyond Real Estate

The partnership extends beyond traditional real estate development. Vacchi and Stern, along with partner Rafi Gibly, are launching Sunset Padel, a members-only indoor padel club in Miami Beach’s Sunset Harbour neighborhood, scheduled to open in late summer 2024.

Future Expansion

The duo isn’t limiting their vision to South Florida. Plans are in motion to announce additional Miami projects later this year, with future developments planned for New York and the West Coast in the coming months.

Market Impact

Located in Miami’s Brickell district, these projects are transforming what was historically a business and financial center into a vibrant 24/7 lifestyle neighborhood. The developments have attracted significant interest from local, domestic, and international purchasers, indicating strong market confidence in the partnership’s vision.

Looking Ahead

“The quality of life is unmatched to any place in the world. The city is growing and Michael has the greatest vision for the city that I love,” Vacchi explained, emphasizing his commitment to Miami’s future. With their combined expertise in development, branding, and luxury lifestyle, Stern and Vacchi are positioned to significantly influence the future of Miami’s real estate landscape.

Their partnership represents a new model in real estate development, one that combines traditional development expertise with modern branding and lifestyle elements. As Miami continues its evolution into a global city, this collaboration between a construction veteran and a media-savvy entrepreneur might well set the template for future development partnerships.

Miami

Miami Real Estate Market Shows Signs of Stabilization in 2025

By Columbus International,

The Miami residential real estate market is experiencing significant shifts as inventory levels rise and prices stabilize. Single-family home inventory jumped 26% year-over-year to 5,041 units in December 2024, while condominium availability surged 48% to 10,425 units.

Despite increased inventory, transaction volumes declined. Single-family home sales dropped 9.1% in Q4 2024, while condo sales fell 24%. The median single-family home price held relatively steady at $660,000 in November, down slightly from July’s peak of $670,000. Condo prices saw a more substantial decline, falling 7.6% from $449,000 in March to $415,000 in November.

The market currently shows eight months of single-family home supply, indicating equilibrium. However, the condo market’s 18-month supply suggests oversaturation, potentially driven by investor-heavy ownership – only 35-40% of condo owners occupy their units.

Berkshire Hathaway President Ron Shuffield emphasizes the long-term value proposition, noting that Miami’s median single-family home prices have quadrupled since 2011, rising from $150,000 to $650,000. The increased inventory offers more choices for buyers while helping stabilize prices after the pandemic-era surge that saw monthly supply drop to 1-3 months.

Recent changes in condominium association regulations across South Florida have impacted buyer interest in multi-unit properties, contributing to the sector’s softening sales despite increased availability.

Miami Real Estate: A 2024 Market Analysis For International Investors

By Columbus International,

High-Profile Deals Signal Continued Market Resilience Despite Challenges

Despite global economic headwinds and elevated interest rates throughout 2024, Miami’s luxury real estate market demonstrated remarkable resilience, offering valuable insights for international investors eyeing the South Florida market. While transaction volumes showed some moderation, premium properties continued to attract significant capital, particularly from ultra-high-net-worth individuals and celebrities.

Premium Market Maintains Momentum

The luxury segment provided compelling evidence of Miami’s enduring appeal. In a standout transaction, tech titan Jeff Bezos expanded his Miami footprint with an $87 million acquisition in Indian Creek Village, bringing his total investment in the area to $234 million. This vote of confidence from one of the world’s wealthiest individuals underscores the area’s status as a premier luxury destination.

The market also saw soccer superstar David Beckham and his wife Victoria secure a waterfront property on Miami Beach’s prestigious North Bay Road for $72 million, setting a new record for the area. These high-profile purchases suggest that despite broader market adjustments, prime Miami real estate continues to command premium valuations.

Investment Opportunities Across Market Segments

For Italian investors considering Miami real estate, several key trends emerged in 2024:

Palm Beach Premium

Palm Beach and its surrounding communities have seen increased attention from developers and high-net-worth buyers. The area, home to significant properties including Mar-a-Lago, continues to attract premium buyers, with notable transactions including a $43 million estate sale by Billy Joel and a $24 million mansion purchase in Manalapan.

Commercial Real Estate Adjustments

The office market presented a more nuanced picture, with investment sales volumes declining compared to pre-pandemic levels. This correction has created potential opportunities for value-oriented investors, particularly in prime locations where quality assets may be available at adjusted valuations.

Residential Market Dynamics

While higher interest rates impacted overall residential transaction volumes, the market demonstrated adaptability. Notable trends included:

  • Continued strong demand for waterfront properties
  • Price adjustments in certain segments creating entry opportunities
  • Sustained interest in luxury condominiums, despite new regulatory considerations

Strategic Considerations for Italian Investors

For Italian investors looking to enter the Miami market, several factors warrant consideration:

Market Timing

The current environment, characterized by some price moderation and reduced competition, may present strategic entry points for long-term investors. The sustained interest from high-profile buyers suggests underlying market strength, while current conditions may offer more favorable negotiating positions.

Location Focus

Premium areas continue to demonstrate resilience:

  • Miami Beach’s North Bay Road
  • Indian Creek Village
  • Palm Beach and surrounding communities
  • Bal Harbour
  • Golden Beach

Regulatory Awareness

New legislation affecting condominium associations and ownership structures makes due diligence particularly important. Italian investors should work with local legal experts to navigate these requirements effectively.

Looking Forward

While 2024 presented certain challenges, Miami’s real estate market showed remarkable adaptability and continued to attract significant investment from domestic and international buyers. For Italian investors, the current market environment may offer strategic opportunities, particularly in the luxury segment where Miami’s unique combination of lifestyle appeal and financial advantages continues to drive demand.

The market’s ability to sustain high-value transactions, even amid broader economic headwinds, suggests enduring fundamental strength. As the market adjusts to higher interest rates and evolving regulatory requirements, informed investors may find attractive entry points across various property segments.

Case quartiere Design Distric

Miami Art Week 2024: The Ultimate Guide to Art Basel’s Cultural Spectacle

By Columbus International,

As the art world converges on Florida’s vibrant coastline, a comprehensive look at the most anticipated shows, collaborations, and experiences during this year’s premier art celebration.

When Miami transforms into the global art capital each December, it attracts more than just traditional art enthusiasts. For six dynamic days (December 3-8, 2024), the city becomes a melting pot where A-list celebrities, fashion innovators, culinary masters, and art professionals converge, creating a cultural phenomenon that transcends conventional art exhibitions.

While Art Basel Miami Beach stands as the centerpiece, Miami Art Week has evolved into a multifaceted celebration where experiential marketing meets artistic expression. Major brands orchestrate immersive launches, while philanthropic galas draw society’s elite to oceanfront venues.

ICONIC VENUES AND SPECIAL EVENTS

The Miami Beach EDITION marks its tenth anniversary with a series of exclusive gatherings. Parisian cultural hub Silencio returns to curate three invitation-only evenings, featuring collaborations with MoMA PS1, the How Long Gone podcast, and an artistic partnership between PIN-UP Magazine and Perrotin Gallery.

Tribeca Festival makes its third appearance at Art Basel, hosting four nights of music-focused programming at the Miami Beach Bandshell. Highlights include a conversation with Camila Cabello and David Grutman, plus a nostalgic celebration of The Birdcage’s 28th anniversary featuring local drag luminaries.

ARTISTIC HIGHLIGHTS

At SCOPE Art Show, British-Nigerian artist Yinka Ilori MBE presents an interactive installation in collaboration with Chase Bank. His work “Lift Me Higher With Joy” creates an immersive environment inspired by family gatherings, while the Shrine of Affirmations offers a contemplative space in the Chase Sapphire Reserve Lounge.

CULINARY INNOVATIONS

The Resy Lounge, powered by American Express and Delta Air Lines, returns to Untitled Art with L.A.’s Jon & Vinny’s providing sophisticated casual dining. Terra celebrates the launch of Jean-Georges Miami Tropic Residences with an exclusive event exploring the intersection of gastronomy and design.

FASHION MEETS ART

Gucci embraces the season with an enchanting snow globe installation at Sweet Bird North Plaza, running through January 7. The display features miniature recreations of iconic Gucci locations worldwide, complemented by local culinary partnerships.

Cartier concludes its Trinity 100 world tour in Miami with an immersive experience celebrating the iconic collection’s centennial. Meanwhile, Maison Margiela collaborates with tattoo artist Kozo on an exclusive capsule collection, featuring customized signature pieces that blend classical and contemporary aesthetics.

The week also sees performance artist Marina Abramović partnering with Massimo Dutti for “Nomadic Journey,” an exhibition spanning four decades of her artistic journey, while Autry teams with artist Rob Pruitt for a limited-edition sneaker release celebrated at a transformed Miami Beach gas station.

Through this convergence of art, fashion, culture, and cuisine, Miami Art Week 2024 continues to redefine the boundaries of traditional art fairs, creating an unparalleled cultural experience that resonates well beyond the confines of gallery walls.

Photo via Design District | Source: THR

Miami real estate

Miami’s Next Real Estate Boom: Why Savvy Investors Are Eyeing 2025-2026

By Columbus International,

The Miami skyline tells a story of transformation, but beneath the glittering facade lies an overlooked opportunity that sophisticated investors are quietly positioning themselves to capture. As the dust settles from the post-pandemic surge, a perfect storm of market conditions is brewing for 2025-2026.

The Hidden Supply Crisis in Luxury Rentals

While headlines focus on Miami’s luxury condo market, a more compelling narrative is unfolding in the high-end rental sector. Brickell, Miami’s financial nerve center, hasn’t welcomed a new market-rate apartment development since 2019. This supply drought, combined with soaring office occupancy rates and expanding financial sector presence, creates a unique arbitrage opportunity for institutional investors.

Follow the Money: Financial Giants Double Down

JP Morgan’s recent decision to double its Brickell footprint isn’t just another corporate expansion – it’s a harbinger of a larger shift. When Paul Singer’s Elliott Investment Management commits $443 million to acquire 701 Brickell, it signals something bigger than just a real estate play. These moves suggest a longer-term bet on Miami’s evolution into a serious financial hub, one that will require sophisticated housing solutions for a growing professional class.

The Demographics Don’t Lie

The numbers paint a compelling picture: Brickell’s $185,585 mean household income isn’t just a statistic – it represents a fundamental shift in Miami’s tenant base. This isn’t the Miami of vacation homes and retirees; it’s increasingly the domain of high-earning professionals seeking quality rental housing. With private-sector job growth outpacing the national average by 107%, the demand pressure on luxury rentals is set to intensify.

Smart Money’s New Playbook

Institutional investors like Empira Group, with €9 billion in assets under management, are already executing on this thesis. Their focus on Class A multifamily developments in premium locations suggests a sophisticated understanding of where the market is headed. The key insight: Miami’s luxury rental market isn’t just about housing – it’s about lifestyle infrastructure for a new generation of high-income professionals.

Why 2025-2026 Matters

As interest rates normalize and construction costs stabilize, the window for optimal market entry is approaching. But the real opportunity isn’t just about timing the market – it’s about positioning for a fundamental shift in Miami’s real estate landscape. The convergence of limited new supply, strong demographic trends, and institutional capital flows suggests a market primed for sophisticated investors who can execute on complex, large-scale residential projects.

The Bottom Line

For investors seeking alpha in real estate, Miami’s 2025-2026 window presents a rare opportunity to capitalize on a market inefficiency. While others chase headlines in the condo market, smart money is quietly assembling positions in the luxury rental sector, betting on a fundamental transformation of Miami’s real estate landscape.

As one prominent developer recently noted off the record, “Miami’s next chapter isn’t about selling dreams to tourists – it’s about building infrastructure for global finance.” For investors who can read between the lines, that might be the most valuable insight of all.

Miami Real Estate Forum: Migration Trend Persists Despite Market Challenges

By Columbus International,

South Florida’s real estate boom shows no signs of slowing, according to industry leaders at The Real Deal‘s recent South Florida Real Estate Forum. Despite rising costs and limited inventory, the region continues to attract investors and residents, distinguishing itself from other major U.S. markets.

The two-day forum, hosted at Mana Wynwood on November 6-7, drew an impressive crowd of over 6,000 real estate professionals and featured more than 50 speakers across 80 exhibitor booths. The event showcased the enduring strength of South Florida’s real estate market, even as other regions face significant headwinds.

Industry Leaders Take Center Stage

The forum’s star-studded lineup included several notable speakers:

  • WeWork founder and billionaire Adam Neumann discussed his new venture, Flow, revealing stronger-than-average NOI growth in their rental properties
  • Douglas Elliman’s newly appointed CEO Michael Liebowitz made his first major public appearance
  • Terra CEO David Martin shared insights on government relations and development strategies
  • Celebrity brokers Ryan Serhant and Pam Liebman hosted exclusive VIP breakfasts

Market Insights: Challenges and Opportunities

Multifamily Sector

Miami Worldcenter’s master developer, Nitin Motwani, maintains an optimistic outlook on apartment rental growth in South Florida. However, developers acknowledge current market realities:

  • Rent growth has plateaued due to substantial new inventory
  • Construction costs are outpacing inflation
  • Higher interest rates are impacting construction financing

Development Landscape

Key challenges facing developers include:

  • Shortage of qualified subcontractors for high-end construction
  • Escalating insurance and land costs
  • Supply chain concerns, particularly regarding potential tariff impacts

Single-Family Market

Veteran developer Todd Michael Glaser reported a strategic shift toward renovation projects rather than new construction, citing unfavorable economics for ground-up development of luxury homes.

Looking Ahead

Despite these challenges, South Florida’s real estate market continues to benefit from several advantages:

  • Sustained migration from other states
  • Strong demand across residential and commercial sectors
  • Continued interest from high-net-worth individuals and institutional investors

The pandemic-driven surge in South Florida real estate may have moderated, but the region’s fundamental appeal remains strong. With its favorable tax environment, growing business ecosystem, and lifestyle benefits, industry leaders expect the “flight to Florida” trend to persist, even as the market adapts to new economic realitie

From Porsche to Palate: Miami’s Luxury Condo Scene Embraces Culinary Stardom

By Columbus International,

In a city where branded residences already feature car elevators and fashion house finishing touches, Miami’s latest luxury development is betting on the power of gastronomy to attract ultra-wealthy buyers. Jean-Georges Miami Tropic Residences, the first-ever residential project from legendary Michelin-starred chef Jean-Georges Vongerichten, is set to redefine luxury living through the lens of culinary excellence.

The 48-story architectural masterpiece, rising in Miami’s coveted Design District, represents a bold departure from the automotive and fashion-branded towers that have dominated the city’s luxury real estate landscape. While the Porsche Design Tower made headlines with its innovative sky garages and Dolce & Gabbana’s upcoming project promises haute couture living starting at $3.5 million, Jean-Georges is betting that the way to a luxury buyer’s heart is through their stomach.

“The evolution of branded residences in Miami reflects a deeper understanding of what today’s ultra-high-net-worth individuals truly value,” says Douglas Rill, veteran Florida broker at Century 21 America’s Choice. “It’s no longer just about the name—it’s about the lifestyle experience that name represents.”

A Recipe for Success

The numbers suggest the timing couldn’t be better. Miami-Dade County’s luxury condo market has shown remarkable resilience, with sales of units priced over $1 million surging 122.2% this August compared to 2019 levels. The Jean-Georges project, with prices starting at $1.6 million, enters a market where branded properties command significant premiums.

The development, a collaboration between Terra and Lion Development Group, promises 329 meticulously crafted residences ranging from one to four bedrooms, plus select penthouses. But it’s the 41,000 square feet of amenity spaces that truly set this project apart. The crown jewel? A ground-floor restaurant complex spanning 27,500 square feet, where Vongerichten will blend his various culinary concepts into a singular dining experience.

Beyond the Plate

“This isn’t just about putting a celebrity chef’s name on a building,” explains David Martin, CEO of Terra. “We’re creating an ecosystem where culinary excellence informs every aspect of daily life.” The amenities read like a wish list for the gastronomically inclined: a private dining room with indoor-outdoor flexibility, a chef’s kitchen for resident use, and a sophisticated bar and lounge space.

But perhaps most telling of the project’s ambitions are the unexpected touches: a podcast recording studio, wellness facilities including cold plunges, and even a squash court—suggesting that while food may be the central theme, the development aims to satisfy all aspects of a luxury lifestyle.

The Business of Branded Luxury

The Jean-Georges project joins an increasingly crowded field of branded residences in Miami. Mercedes-Benz, Cipriani, and Aston Martin have all planted their flags in the city’s skyline. Meanwhile, Bentley Residences is under construction in Sunny Isles Beach, with units starting at an eye-watering $5.6 million.

“Not everyone will be able to say they live in a Jean-Georges tower,” notes Juan Arias, CoStar’s director of market analytics. “That exclusivity, combined with the genuine lifestyle integration the brand represents, allows developers to command significant premiums.”

Looking Ahead

With groundbreaking scheduled for summer 2025 and completion targeted for 2027, the Jean-Georges Miami Tropic Residences represents more than just another branded development—it’s a bet on the future of luxury living. As traditional luxury brands continue to enter the real estate market, this culinary-focused approach might just prove to be the secret ingredient Miami’s high-end market has been waiting for.

For Vongerichten himself, who has built an empire of over 60 restaurants globally, including the two-Michelin-starred Jean-Georges in New York, this represents a natural evolution. “This project embodies my vision of combining culinary excellence with lifestyle spaces,” he says. And in Miami’s competitive luxury market, that combination might just be the perfect recipe for success.

Photo via Miami Tropic Residences

Il mercato dei condomini a Miami Beach

Miami’s Office Market Paradox: Record-High Rents Amid Lowest Leasing Activity in Years

By Columbus International,

In a striking display of market contradictions, Miami’s commercial real estate sector is experiencing a unique phenomenon: skyrocketing premium office rents alongside its lowest leasing activity in four years. This unusual dynamic highlights the growing divide between luxury and conventional office spaces in one of America’s fastest-growing business hubs.

Premium Space Commands Historic Rates

The recently completed 830 Brickell tower, Miami’s newest luxury office building, has set a new market record with Brazilian bank Banco Master securing space for nearly $200 per square foot – almost double the city’s previous record from just two years ago. This rate represents a more than threefold increase from pre-pandemic levels, when premium Brickell office space commanded around $60 per square foot.

“These tenants are already leasing in markets like New York or internationally where you have top quality, world-class real estate assets,” notes Tere Blanca, founder and CEO of Blanca Commercial Real Estate. The building has attracted an impressive roster of blue-chip tenants, including Microsoft, Citadel, Thoma Bravo, and Kirkland & Ellis, with approximately 90% of tenants relocating from major markets like New York and Los Angeles.

Broader Market Shows Signs of Strain

However, this success story masks broader challenges in Miami’s office market. According to Avison Young’s third-quarter market report, the city is experiencing its slowest leasing activity since 2020. Total leasing volume reached just over 2.5 million square feet year-to-date, significantly down from around four million square feet during the same period in 2022.

The average deal size has notably contracted, dropping to 3,682 square feet from 4,581 square feet last year, reflecting a wider trend of companies reassessing their office space needs. This reduction in average lease size suggests a more cautious approach from traditional office users, even as premium spaces command record rates.

A Tale of Two Markets

This divergence creates a fascinating market dynamic: while luxury office space in Miami remains scarce and increasingly expensive, the broader market is grappling with changing workplace patterns and reduced demand. The success of premium properties like 830 Brickell has spurred new development, with over 1.8 million square feet of office space currently under construction, including Citadel founder Ken Griffin’s ambitious $1 billion waterfront development project.

Looking Ahead

Despite the overall slowdown in leasing activity, there are positive signs for the market’s resilience. Return-to-office metrics show improving attendance, particularly on Mondays and Fridays, with law firms leading the charge at a 97% increase in office attendance since August of last year.

The contrast between record-setting rents and declining leasing activity presents both challenges and opportunities for Miami’s office market. As new premium inventory comes online and workplace patterns continue to evolve, the market’s ability to balance these opposing forces will be crucial for its long-term health.

Miami Real Estate: A Golden Opportunity on the Horizon for 2025-2026

By Columbus International,

The Miami real estate market is poised for an exciting period of growth and opportunity as we look towards 2025-2026. With a combination of favorable economic conditions, increasing demand, and the city’s enduring appeal, Miami is set to cement its status as a premier destination for real estate investment and living.

Promising Price Projections and Market Dynamics

The future looks bright for Miami’s property values, with median home prices expected to surge by an impressive 6.5% overall. Single-family homes are the star performers, with projections indicating a remarkable 9.7% increase. This robust growth reflects the enduring demand for Miami’s unique blend of urban sophistication and tropical paradise.

Adding to the positive outlook, mortgage rates are anticipated to become more favorable, potentially dropping to around 5% by the end of 2025. This development is set to open doors for a wider range of buyers, making the dream of owning a piece of Miami more attainable than ever.

Luxury Market: A Testament to Miami’s Global Appeal

Miami’s luxury real estate sector is experiencing a renaissance, particularly in the condo market. Properties valued at over $1 million have seen an astounding 122.2% increase in sales compared to pre-pandemic levels. This surge underscores Miami’s growing reputation as a global luxury destination, attracting discerning buyers from around the world who are eager to invest in the city’s unparalleled lifestyle.

Economic Tailwinds Propelling Growth

The city’s real estate market is benefiting from a perfect storm of positive economic factors. The Federal Reserve’s proactive measures to reduce interest rates are making mortgages more affordable, setting the stage for increased buying activity. This improved affordability, coupled with pent-up demand from recent years, promises a dynamic market with ample opportunities for both buyers and sellers.

Miami: A Magnet for Talent and Wealth

One of the most exciting trends fueling Miami’s real estate boom is the influx of high-earning professionals and businesses. The city has become a beacon for talent, with new arrivals boasting an average adjusted gross income of $175,600 – significantly higher than long-term residents. This migration has injected billions into the local economy, further stimulating the real estate market and enhancing Miami’s status as a thriving economic hub.

A Seller’s Market with Room for Growth

While the current inventory shortage presents challenges, it also signals strong underlying demand and creates opportunities for sellers. The scarcity of available properties, particularly in the condo market where active listings are 42.2% below historical averages, indicates a robust seller’s market. This situation bodes well for property appreciation and investment returns.

International Appeal Driving Cash Transactions

Miami’s global allure is evident in its high proportion of cash sales, which account for 32.9% of transactions – well above the national average. This trend highlights the city’s appeal to international investors and underscores the strength and stability of Miami’s real estate market.

Looking Ahead: A Bright Future for Miami Real Estate

As we approach 2025, Miami’s real estate market is brimming with potential. The combination of price appreciation, increasing demand from both domestic and international buyers, and the city’s unmatched lifestyle offerings create a compelling case for investment and residence.

The luxury segment, in particular, is expected to flourish, with Miami ranking first in the U.S. for luxury market price growth according to Knight Frank’s 2024 Wealth Report. This prestigious recognition cements Miami’s position as a top-tier destination for high-net-worth individuals and savvy investors alike.

In conclusion, Miami’s real estate market is on track for an exhilarating period of growth and opportunity. Whether you’re a first-time homebuyer, a seasoned investor, or someone looking to upgrade your lifestyle, Miami offers a unique blend of economic potential and quality of life that is hard to match. As the city continues to evolve and attract talent from around the globe, the future of Miami’s real estate market looks brighter than ever.

Supermodel Elle Macpherson Sells Coral Gables Estate for $18.5 Million

By Columbus International,

In a notable real estate transaction, Australian supermodel and entrepreneur Elle Macpherson has sold her luxurious Coral Gables mansion for $18.5 million, marking a significant return on her initial investment. The sale, while impressive, falls short of her original ambitious asking price of $29 million when the property was first listed two years ago.

Elle Macpherson vende la sua villa a Coral Gables | Foto: Douglas Elliman Realty

The Property

The estate, located at 9550 Journeys End Road, boasts an impressive 8,935 square feet of living space. The property features:

  • Six bedrooms
  • Six and a half bathrooms
  • A spacious 1.7-acre lot
  • A pool
  • Home office
  • Gym
  • Chef’s kitchen
  • Lavish primary suite

While not directly on the waterfront, the property includes a coveted boat slip at the exclusive Journey’s End Marina, adding significant value for nautical enthusiasts.

The Transaction

The buyer, identified in property records as Bumda Trust, is a discreet entity managed by an attorney, reflecting the high-profile nature of the sale.

Investment Success

Macpherson originally purchased the property in 2018 for $8.1 million, following her divorce from developer Jeffrey Soffer. The recent sale at $18.5 million represents a remarkable 128% increase in value over just five years, showcasing Macpherson’s savvy in real estate investment.

Market Insights

The sale price, while substantial, indicates a cooling in the ultra-luxury real estate market from its peak. The final figure of $18.5 million is significantly lower than the initial $29 million asking price, and even below the most recent list price of $22 million.

This transaction underscores the ongoing appeal of Coral Gables real estate to high-net-worth individuals and investors, even as the market adjusts to changing economic conditions.

Source: WSJ | Cover photo: Instagram


Columbus international

Columbus International offers top experts in the real estate field that will make your quest for a property as seamless as possible.

CONTACT

    (+1) 212.327.0160

    (+39) 800.737.060

info@columbusintl.com

OFFICE

Rockefeller Center
1270 Sixth Avenue, 8th floor,
New York, NY 10020

Facebook Twitter Instagram Linkedin Youtube

Newsletter

Receive our latest news and updates.

1
keyboard_arrow_leftPrevious
Nextkeyboard_arrow_right

© 2024 – all rights reserved  – Columbus International                                                            ⓘ    We are committed to upholding the principles of all applicable fair housing laws 

Standardized Operating Procedure for Purchases of Real Estate Pursuant to Real Property Law 442-H 

Columbus International operates in the United States under the aegis of Keller Williams NYC and Living RE srl in Italy

NEW YORK FAIR HOUSING STATEMENT             |             PRIVACY POLICY              |            COOKIE POLICY             |            TERMS OF USE