Sunday, January 15, 2006

Real Estate GLOBAL Bubble Watch

Que tan alto es alto? Apartamentos en Miami, ya no se estan valorando en base a pie cuadrado, sino en base a cantidad de cuartos. Para muestra de un boton, este proyecto se valoriza a la modica suma de $1mm por cuarto!...en preventa!!! Any takers???

Upcoming Announcement

It seems as if the long-awaited Ritz-Carlton Residences are to be announced shortly. From early rumors, the Ritz-Carlton Residences will consist of multiple high-rise buildings with about 100 1, 2 and 3 bedroom apartments along the beach at Collins and 29th Street in South Beach. This will NOT be a condo hotel, from what I have been told, but rather a proper residence. There is a rumor that a small number of units in one of the buildings will be sold fractionally.

Very Limited Availability and PriceyDon't expect any bargains here. Real estate prices have risen along with construction costs. However, with a bit of luck I will get early pricing for my customers.

If you think you're a candidate for one of these ocean residences, please let me know immediately and I will put you on my early buyer's list. My guess for pricing: 1 bedrooms at around $1M, 2 bedrooms at around $2M and 3 bedrooms at around $3M

Sincerely, Mark Zilbert - President and Licensed Real Estate Broker

Zilbert Realty Group