April 09, 2013
The luxury residential market in Miami-Dade County strengthened over the first quarter, according to a new quarterly report on the overall Miami-Dade residential market by StreetEasy.com. Luxury residential sales saw an increase of 16.3 percent in the first quarter of 2013 compared with a year earlier and an increase of 8.7 percent compared with last quarter.
The luxury residential market is defined as the top 10 percent of transactions in terms of price. Based on closings in the first quarter, the luxury market was made up of sales above 855,000 dollars, an increase of .6 percent since last year. South Beach and Fisher Island accounted for 64.1 percent of luxury closings.
Distressed property sales in Miami-Dade declined 18.8 percent in the first quarter on a year-over-year basis. Distressed condo sales dropped 20 percent compared with last year, and distressed home sales dropped 17.1 percent compared with last year. The median price of distressed sales rose 17.3 percent in the same time frame.
Source: The Miami Herald
April 01, 2013
Extensive renovations on Fisher Island Club’s Racquet Club and Links Golf Club have been completed, according to Miller Construction Company. The Racquet Club and Links Golf Club each had their interiors stripped and updated with luxurious finishes.
The interior of the 6,000-square-foot golf clubhouse was built out with lavish millwork and natural stone finishes. The space includes an open lobby, pro shop, dining room and a roofed, waterfront dining patio. A new, tiled roof complements the original, historic design of the building.
The Racquet Club also features extensive millwork and high-end finishes. Bath and locker room updates were completed in advance, to help minimize inconvenience to members and their guests. The club remained fully operational throughout the renovation process.
These two completed renovations were preceded by another major renovation to Fisher Island Club’s spa and fitness center. The 24,000-square-foot spa was outfitted with a luxurious lobby, 6 new pools and a state-of-the-art fitness facility.
Fisher Island Club, a former 1920’s estate of the Vanderbilt family, is located on the private island community of Fisher Island, right off the shores of Miami.