Soccer Star Alexis Sánchez Scores Miami Condo

Inter Milan soccer player Alexis Sánchez has just scored a luxury condo in Miami,
sparking rumors that he plans to play for David Beckham’s Inter Miami CF.

As it turns out, the two players have more than Florida’s sunny beaches in common. Though striker Sánchez currently plays for Inter Milan, it is a loan agreement as the 31-year-old Chilean national team player is currently signed to Manchester United, Beckham’s old club. His move to the $2.45 million condo at Sunny Isles Beach, where 70 of the possible 212 units have been sold, as first reported in The Real Deal, makes sense at this, the tail end of his career.

Although the developer is keeping prices under wraps, it’s believed Sánchez’s money will get him a two bedroom three bathroom condo. Amenities in the tower include a private club level on the 33rd floor, a rooftop pool, a kids club, an on-site spa and wellness center and a pet grooming room as well as a beachfront restaurant.

Sánchez, who has recently been plagued by injuries and poor form, will also be close to another former teammate, Barcelona’s Lionel Messi. Last year, the Argentinian  superstar ponied up $5 million for a condo at the nearby Porsche Design Tower in Sunny Isles Beach.

The Chilean media have been speculating on the future of their 43 goal all-time scorer. Sánchez had been in lockdown outside the country’s capital of Santiago before returning to Italy to be near his club in expectation of a return to training. He has distanced himself from speculation linking him to Inter Miami, however, stating that he feels he is still able to play in Europe. However, reports in the the UK’s Sun newspaper suggest he is unwanted by both Manchester United and Inter Milan so a move to Miami could be on the cards.

Meanwhile, Beckham, the owner and president of Inter Miami CF, and wife Victoria recently splashed out close to $20 million for a posh penthouse in the futuristic, Zaha Hadid-designed luxury tower One Thousand Museum in downtown Miami.

The Ritz Carlton tower was developed by the Fortune International Group and the
Château Group and was designed by architect Bernardo Fort-Brescia of Arquitectonica. The listing agents are Lourdes Gutierrz and Gene Martinez of Compass.

Luxury condo sales continue. This Sunny Isles penthouse went for $21 million

Ultra-luxury sales continue to close in South Florida, underscoring buyers’ ongoing faith in the Miami market.

One of four penthouse units at the Ritz-Carlton Residences in Sunny Isles Beach sold for $21 million Thursday to an undisclosed U.S. buyer, said Edgardo Defortuna, chief executive officer and president of Fortune International Group. The penthouse at the 52-story waterfront tower measures 10,760-square-feet and spans the entire 51st floor. The interior measures 7,760 square feet and includes four bedrooms, six bathrooms, a half bath, service quarters, gym, theater and den. The garden, pool and terraces cover 3,000 feet outdoors.

About 80% of the 209-unit building have sold. Amenities at the tower, at 15701 Collins Ave., include a spa, two pools and a kids room that are accessible in better times.

“Most of our buyers are end users,” Defortuna said. “They buy because of the Ritz-Carlton brand — they want the customization, service and management that comes with Ritz-Carlton. And they come to South Florida for the lifestyle and weather.”

The Sunny Isles Beach unit sold about $1,107 higher per square foot than another recent luxury sale — a 7,630-square-foot Palazzo del Sol unit at 7021 Fisher Island Dr. that closed Friday for about $1,598 per square foot, or a 05total of $12.2 million.

The transactions prove Miami’s appeal despite the pandemic, especially with Northeasterners, said Jonathan Miller, chief executive officer and president of New York City-based real estate appraisal and consulting firm Miller Samuel. “New Yorkers are still the new foreign buyer. There are a little international buyers, and a little in-state [Florida] buyers too.”

Miami’s proximity to Latin American and European countries have enticed buyers to South Florida, Grosskopf said: “Buyers are attracted to Miami because it’s an international market.”

The Ritz Residences’ other three penthouses are expected to close in the next few months, said Manuel Grosskopf, chief executive officer of Château Group. Grosskopf co-developed the Sunny Isles tower with Defortuna.

Pre-sales began in late 2015, when construction began. The condo received its temporary certificate of occupancy in February.

February’s Super Bowl brought a sales bump, enabling developers to pay off their $212 construction loan to Bank OZK.

Since the pandemic emerged, the amount of activity has slowed in the luxury market. “The challenge has been showing the homes because people can’t come to the sales gallery,” said DeFortuna. “Buyers are taking longer to pull the trigger with transactions because they want to see what the world will look like in a few months.”

The longer the COVID-19 crisis continues, Miller said, the more likely it is the national and local economy will worsen, including the real estate market. “The longer we shelter at home, the more likely that you can avoid another flare up in the fall, the less economic damage we’ll have because we won’t lag this out. But the fact that we are seeing these closings proves people still have faith in the future of the market.”

Puttin’ on the Ritz

Fortune International Group and Château Group, joint developers of The Ritz-Carlton Residences in Sunny Isles Beach in South Florida, have paid off a $212 million construction loan on the newly opened tower. The developers received the loan from Bank OZK in September 2016. Managed by Ritz-Carlton, the complex is one of the brand’s only standalone oceanfront condominium high-rises worldwide.

The 52-story building at 15701 Collins Avenue — which was designed by award-winning architect Bernardo Fort-Brescia of Arquitectonica and features interiors by acclaimed Florentine architect Michele Bönan — was completed in February when it received its temporary certificate of occupancy. The tower is already more than 80% sold.

Now, in the midst of the COVID-19 pandemic, the developers have completed 100 closings, with a great number of them conducted virtually. (All four penthouses were sold prior to construction.) They have additionally finalized new sales totaling more than $30 million.

“Paying off this loan so quickly after opening the tower — and in the midst of these extremely challenging times — further confirms the support for our project and the excitement it has generated among buyers across the globe,” said Manuel Grosskopf, CEO of Château Group.

“Our residents have been praising the end result of the thoughtful and detailed work that has gone into creating and delivering this dream of ours,” said Edgardo Defortuna, president and CEO of Fortune International Group. “The project’s longstanding sales success, as well as these most recent triumphs, have been a testament to the buyers’ recognition of a high-quality project paired with a high level of service.”

Offering hotel-level butler services, a beachfront location and airy, light-filled
contemporary designs, The Residences has attracted some of “the most high-profile buyers in the world,” Grosskopf said.

The Residences, which has no hotel on the premises, boasts a prime coastal location with 250 feet of beachfront. Comprising an updated total of 209 residences (adjusted from the original total of 212 units due to buyers combining units), the high-rise has a private club level on the 33rd floor, including private suites for resident guests, beach restaurant and bar, two pool decks, a kids club, full-service spa, fitness center and wellness center, among other top-line amenities.

Further highlights in each of the homes‚ all of which are smart-technology-ready,
include private entrances, living and master bedrooms with direct oceanfront views, walk-in closets and pre-wiring for high-speed internet access and Wi-Fi.

Florida realtors seeing influx of buyers from NYC, other large cities

Florida realtors seeing influx of buyers from NYC, other large cities
Some realtors are seeing pandemic fueled demand, a big increase in New Yorkers and people from other large cities moving to Florida due to Covid-19. Many industries have taken a hard hit during the pandemic, but south Florida realtor Justin Himmelbaum says he’s as busy as ever. “Everyone is calling from those bigger cities saying wow, how can we buy these $300,000 homes and really have more property and more safety,” say Justin Himmelbaum, The HOME Team at KW Innovations Boynton Beach.
[Source: WPBF]

Pandemic leading house hunters towards rural Florida
The coronavirus has brought us record unemployment and lead people to be desperate unlike they ever have been before, just to put a meal on the plate. Yet there are signs that the pandemic may wind up eventually being a boon for the Florida housing market – even in some unusual places. [Source: CBS 12]

Real estate tycoon Bud Adams dead at age 81
Francis Fiske “Bud ” Adams, Jr., was a real estate tycoon who founded Illustrated
Properties in 1975, and through a series of mergers, grew it into Florida’s largest
independent real estate firm, serving as its chairman until his death April 29. Adams, 81, of North Palm Beach, died at home after a battle with pancreatic cancer. Adams grew up on Jupiter Island, and attended Graham Eckes-Palm Beach Academy, Georgetown Preparatory School and Rollins College. He returned home in the 1950s and worked alongside his father, Jupiter Island property pioneer Francis Adams, who started a predecessor firm selling luxury homes and land in 1932. [Source: Palm Beach Post]

Lakewood Ranch to welcome one of Florida’s first single-family rental
communities South Florida luxury condo sales continue
Ultra-luxury sales continue to close in South Florida, underscoring buyers’ ongoing faith in the Miami market. One of four penthouse units at the Ritz-Carlton Residences in Sunny Isles Beach sold for $21 million Thursday to an undisclosed U.S. buyer, said Edgardo Defortuna, chief executive officer and president of Fortune International Group. The penthouse at the 52-story waterfront tower measures 10,760-square-feet and spans the entire 51st floor. [Source: Miami Herald] A relatively new concept in residential real estate, the single-family rental community, is planned for Lakewood Ranch. Construction has begun on Estia Lakewood Ranch, a joint project between the developers of the master-planned community and Zilber Residential Group. Plans call for 230 residences: 102 one-bedroom, 725- square-foot units within 51 duplexes; and 128 stand-alone, 1,000-square-foot, two-bedroom homes. [Source: Sarasota Magazine]