This was published in NYPost on July 8, 2010. This article was written By K. Dykstra

The South Florida Real Estate ride has been a harrowing one. Back in 2004 and 2005, when money was cheap and easy, condos changed hands as fast as developers could conceive of them. Apartments were flipped again and again, long before the buildings were even built. Prices hit inconceivable heights — $1,000 per square foot for Miami!

Of course, many of these units lost about half their value during the downturn, and buildings struggled to stay afloat after buyers bailed on their contracts. But now, after some major price adjustments, things are looking sunnier — at least in one beach community.

After early buyers walked away from contracts, Jade Beach and Jade Ocean are making a comeback. The first building has just one unit left, and the second is 55 percent closed. Prices, not surprisingly, have been lowered. Sunny Isles Beach Real Estate — situated next to tony Golden Beach on the north, Bal Harbour Real Estate on the south and Aventura Real Estate on the west — is home to a three-building, 813-unit Trump Towers complex on Collins Avenue that has sold more than $100 million in condos this year. Even more important, more than $60 million of these deals have actually closed.

Just north on Collins Avenue, the 256-residence Jade Ocean development has sold about 10 units per month this year, with prices averaging $1.4 million. Fifty-five percent of the building has closed.

Make no mistake, this is all happening at a big discount. “We really set the floor for pricing in Miami,” Gil Dezer, president of Dezer Properties, says of  Trump Towers. “Here we are in a Trump building, selling at $450 a foot on the ocean. People are waiting for the bottom, and I think we hit the floor.”

Dezer is also in charge of the nearby Trump Grande, another three-tower development on Collins Avenue. That complex includes the Trump International hotel and two residential towers with 669 condos combined. “We were averaging $1,000 a foot before [the downturn], and now we’re getting about $550 a foot; we’re down literally 45 percent,” Dezer says of Trump Grande.

The story is similar over at Jade Ocean, which is fetching about $625 per square foot, down from $840 per square foot at its peak. “We sold [Jade Beach] at an average of $540 a square foot; the resales went up to $750 a square foot,” says Edgardo Defortuna, president and CEO of Fortune International Development, which developed this 51-story sister property of Jade Ocean. “But some of those buyers didn’t close, and we ended up taking those units back.”

But in the last six months, Defortuna has managed to resell the remainder of Jade Beach’s 248 units — save one, which is available for $2.3 million. Next door at Jade Ocean, “We’ve been selling eight to 12 units per month since late 2009,” he says. Over at Trump Grande, Dezer “started closings in January of 2009, right in the middle of the whole mess. We were totally sold out, and then a lot of people elected not to close because they couldn’t get financing or their situations had changed; I heard every situation in the book.”

But he’s managed to completely resell one Trump Grande building and is 65 percent through the other. In January, Dezer Development decided to bet even bigger on Sunny Isles Real Estate by assuming a $265 million loan from a development partnership that included the Related Group in order to take over sales of Trump Towers. Since then, Dezer has sold about 285 apartments at Trump Towers at an average of around $420 per square foot. Part of this success is thanks to Sunny Isles’ beach location surrounded by wealthy enclaves. Golden Beach Real Estate, full of multimillion-dollar mansions (Ricky Martin has one), recently completed a $30 million civic improvement project that included landscaping and an eco-friendly storm-water drainage system.

“The projects that typically felt the bust a little stronger or a little more harshly were because the investors would make decisions based on the numbers, but the emotional purchaser and the end user are always the stronger buyers,” says area broker Jodi Macken, president of Macken Realty. “Thankfully, Golden Beach has sustained itself because it caters toward an end user.” Nearby Bal Harbour is a shopping destination that rivals Madison Avenue or Rodeo Drive. And Aventura is a quiet golf and beach destination favored by Michael Jordan and a sharp set who can’t stand the bustle of South Beach Real Estate. “People bring their friends, they go shopping at Bal Harbour,” says Defortuna. “The Sunny Isles Real Estate market has become very attractive.”

Acqualina is unique 51-story residential masterpiece among Miami Beach Luxury Condos, flawless blend of classical European elegance and modern technology, a reinvention of the architectural splendor of Old World on the sandy white beaches of the Atlantic Ocean. From the moment when you arrive at the Acqualina’s extravagantly stunning entrance, you are transported to the world of elegance and refinement on one of it’s kind in the South Florida Real Estate. Considered to be a premier condo for exceptional oceanfront living among luxury oceanfront bulidings among Sunny Isles Real Estate, beautiful Acqualina Condos located minutes  the world famous Bal Harbour Shops and vibrant nightlife of South Beach.

Combination of a classic Mediterranean villa with the superb oceanfront location on Florida’s Riviera, makes Acqualina Condo the perfect place to live. This Miami Beach luxury condo features 188 lavish residences and 97 ultra-luxurious condo-hotel units, located on 4.5 beachfront acres with 400 feet of stunning Atlantic Ocean coastline.  The luxurious 20,000 sq. ft. ESPA oceanfront spa features 16 treatment rooms including a private spa suite for two, spa pool and heated jet pool, Finnish saunas, crystal steam rooms, rain showers.  This magnificient Sunny Isles Luxury Condo have two  restaurants, including the acclaimed Il Mulino New York, three oceanfront swimming pools and  two-story fitness center.  Also, residents and guests of this also have access to the marina, tennis and golf activities at the Williams Island Country Club, and for children  Acqualina Sunny Isles also offers marine biology-based Aquamarine program.

With perfect prime location in Sunny Isles Beach, right in the heart of South Florida, Acqualina condo as well as Turnberry Ocean Colony  North and South are  ideal  for  sophisticated  living. Kitchens in Acqualina Miami  equipped with Gaggenau appliances, Sub-Zero refrigerators, European cabinetry with under-counter lights, granite countertops with full back splash, instant cold and hot water dispenser, high powered garbage disposal. Breathtaking views can be enjoyed from the spacious balconies overlooking the torques Atlantic Ocean.  No expense has been spared in Acqualina in order to bring you the finest in luxury, unparalleled beauty and class.

Here are May events in Acqualina: every Saturday night Acqualina’s Wine Tasting Series from 6:00 pm – 8:00 pm featuring Argentinian Wines that include regional canapés,  complimentary parking, live music;  Yoga Classes; Acqualina Beachfront Grill Nights which will take place every Friday and Saturday night from 6:00 pm – 10:00 pm., where you can enjoy the view of the beautiful Miami Beach shoreline under the stars while dining on freshly grilled cuisine.

The are number of Acqualina condos for sale starting from 1.3 M, also you can buy  fabulous penthouse with private pool, that features panoramic views of the Atlantic ocean from Miami to Fort Lauderdale.

Turnberry Ocean Colony is one of the newest most exclusive and desirable buildings in Sunny Isles Beach, which offer the most luxurious amenities and services in Miami Beach oceanfront condo market. Perfectly located on the white sandy beaches of the Atlantic Ocean between fashionable Bal Harbour and elite Golden Beach Homes with unique oceanfront location in Miami Beach, Turnberry Ocean Colony  offers tranquil lifestyle on the beach.

Currently priced from around  $1.3 million to $4.3 million with 260 condos on 37 floors Turnberry Ocean Colony North and South Towers offer 2, 3, 4 and 5 bedroom residences with  2,200 to 5,700 square feet of luxury and with ten and twelve foot ceilings in penthouses and huge private terraces, that have fantastic  views of the torques Atlantic Ocean on the east and  Intracoastal Waterway and Miami on the west. The are only  four residences on each floor  and three on  penthouse levels, that provides exclusive privacy for the owners.

Every kitchen in  Turnberry Ocean Colony  is equipped with Italian Snaidero cabinets, Gaggenau cooking appliances,  Meile  built-in coffee/cappuccino machine, SubZero regrigerators, instant hot water dispensers, white Kashmir granite countertops, temperature controlled wine storage systems, faucet spout over the cook-top. The master bath offers Snaidero cabinetry, Jacuzzi® hydrotherapy tubs with built-in TV and elongated toilets and bidets.

Exclusively  owners and guests of Turnberry Ocean Colony  Sunny Isles  can enjoy the luxurious amenities like oceanfront restaurant, spa for relaxation and rejuvenation of you mind and body,  state of the art Cybex fitness center with eucalyptus steam shower  complete with personal trainers, Pilates and world-renowned  therapists, cocktail lounge, poolside food and beverages, card room, beauty salon, 24/7 Doorman, Concierge, valet & security and limo service, upscale events during the holidays and elegant dining at five star restaurant .

Turnberry Ocean Colony with  650 feet of beachfront access to warm torques water of Atlantic Ocean, private cabanas and the beachside mea and drink service, 35,000 square foot private club that  offers dining, fitness amenities and spa, an unbelievable lounge and more, all set in an lavish, luxury West Indies theme considered to be classic luxury in Sunny Isles Beach. Now it’s a perfect time to buy a condo in this one of the most exclusive Miami Beach Condos where you can enjoy the live , whether it’s your main residence or second home.

Jade Ocean Sunny Isles considered one of most  luxurious oceanfront condominiums  in Miami Beach Real Estate and perfectly located  right on the beach just  minutes from exclusive  Bal Harbor Shops and chic South Beach night clubs and restaurants. This technologically advanced  glass towers  combines five star resort elements with  distinctive style. Created by Uruguayan architect Carlos Ott, this luxury residence created for ultimate oceanfront living and offer spectacular condos overlooking white-sand beaches considered among the most  luxury condominium in Sunny Isles Real Estate.

This unique Sunny Isles Beach property with six stories of cascading waterfalls and  lush landscaping, two story grand entrance lobby has Fendi décor and direct view of the blue water of the  Atlantic Ocean, individual identity fingerprint access in elevators,  Versailles-inspired staircase, state-of-art  security surveillance , cutting edge integrated system providing an intellectual home environment, business center , oceanfront porte-cochere valet service, beach services make Jade Ocean Miami Condo very exceptional among Sunny Isles Condos.

An infinity edge pools on the east and west sides of building in perfect for morning and evening swim and appears to be flow throughout the middle of Jade Ocean from the Atlantic coast to Collins Avenue and is nothing like anything we’ve seen in any Miami luxury condo.

Residences in Jade Ocean Sunny Isles offer floor-to-ceiling glass walls and open terraces for expansive views of the ocean and the city, Snaidero cabinetry, built-in  coffee machine, Miele and Sub Zero stainless steel appliances, bathroom fixtures by Philippe Stark and Dombracht, full laundry rooms with washer and dryers.

You can explore Jade Beach Condos  through live MLS Condo Listings search that will show properties available for sale or rent, also the of number of exclusive deals of default units available at discount prices, Jade Beach is exceptionally  luxury oceanfront condo, whether  if you are buying for investment or just want to enjoy the beach front lavishness living, now it’s the perfect time to buy Jade Ocean Miami in this matchless oceanfront location.

According to the article in “Miami  Helard” Dezer Properties takes stake in Sunny Isles Beach Trump Towers. Here  are the highlights of the article: As the Related Group unwinds projects, Dezer Properties has taken over the Miami mega-condo developer’s ownership stake at Trump Towers in Sunny Isles Beach and is assuming the remaining debt on the property. “Condominium prices are being cut by at least 30 percent at the newly built skyscrapers”, said Dezer Properties President Gil Dezer, as the company tries to unload hundreds of unsold units amid a troubled real-estate market. Real-estate experts say the prices now rank below competing new oceanfront properties countywide.
“Trump Towers is 813-unit oceanfront condominium in Sunny Isles Beach project at 16001 Collins Ave. was co-developed by Related and Dezer with Related responsible for construction and financing and Dezer in charge of sales and marketing”, Dezer said. The towers derived their name through a licensing deal with NY real-estate mogul Donald Trump. Following three months of negotiations with lenders, Dezer said his company assumed the former partnership’s $265 million loan on Dec. 31, 2009. He declined to comment on other financial aspects of the deal with Related, but said it was “an amicable split.” “It was a matter of [Related CEO] Jorge [Perez] having a lot on his hands and us being in the Sunny Isles market and being the best fit to handle this,” Dezer said. The Dezer family-owned business holds 45 acres of oceanfront land in Sunny Isles Beach, with sites for eight more buildings, he said.

Trump Towers is not the first project that Related, among the most aggressive developers during the real-estate boom, has exited. And the company has been negotiating for months with lenders regarding its $1 billion ICON Brickell project, a three-tower, 1,800-unit luxury development in the 400 block of Brickell Avenue in Miami. With the prices slashed to $265 per square foot, it’s a great deal for luxury new condo. “We plan to do more projects together,” Dezer said of Related, declining to discuss specifics, but adding that an architect for a new project had just left his office. “I will take Jorge as a partner any day of the week because he is a great partner.”
The Dezers, Gil and father Michael Dezer, also developed Trump Grande in Sunny Isles Beach, a three-building oceanfront enclave that includes the Trump International Beach Resort, built in 2003; Trump Palace, completed in 2006 and sold out; and Trump Royale, which was finished in 2008 and is 60 percent sold out. In addition to their South Florida properties, the Dezers’ holdings include 27 buildings in New York.
CHANGING MARKET
For Trump Towers, Wells Fargo, the lead agent of a syndicate of 11 banks, extended financing for four more years, giving the company time to sell the remaining 435 unsold units, Dezer said. Prices now range from $350 per square foot for most units to $600 a square foot for penthouses, he said. “It’s like a relaunch. What we originally sold was preconstruction with 20 percent down, and we had almost 900 units spoken for,” Dezer said. “Then the crisis hit as we called for closings, and many buyers had their situations changed. So we’re selling the units back in inventory.”
“Each of the three 45-story towers has 271 units. Tower I has 260 units sold, and Tower II is about 40 percent sold with 105 sold, he said. During the next two to three months, Dezer will send out closing notices to those who put down deposits on Tower III, and give them the option to move over at a reduced price to Tower II. Tower III was sold out at an average price of $720 per square foot, with some sales at more than $1,000 a square foot”, Dezer said. During preconstruction sales a few years ago, Trump prices began at $600 to $700 a square foot, said Craig Studnicky, president of International Sales Group, an Aventura-based real-estate sales and marketing firm that specializes in Sunny Isles Beach Real Estate and Aventura Real Estate. At $350 a square foot, the price now is even below replacement cost, Studnicky said. “If they went to build today, it would cost $400 to $450 a square foot, including land.” “However, Trump Towers’ new prices reflect the current glut of unsold units”, said real-estate analyst David Dabby.

Miami Beach Real Estate is coming back and the are a lot of activity on the market right now. Buyer are looking for deals on the beach and the most popular areas are Bal Harbour Real Estate with exclusive condo One Bal Harbour and renovated Harbour House, which has fourteen pending sales now, Sunny Isles Beach Real Estate with luxurious Turnberry Ocean Colony, unique Jade Beach and Jade Ocean and trendy South Beach Real Estate with cool Continuum South Beach at the very southern-most point of Miami Beach with nine pending sales as today.
Single family homes in Miami Beach market is recovering as well. The most private Miami communities have number of pending sales, for example, in Golden Beach recently three properties went into the contract, five in Hibiscus Island and two in Bal Harbour Village.
Classic, renovated 5 bedrooms, 8 bath estate on Pinetree Drive with approximately 9000 SF and 150 feet of protected water-frontage was recently sold for $4 650 000, Mediterranean villa on La Gorge Island with 7 bedrooms, 8,5 bath with 200+feet of waterfront for mega yacht was closed for $9 500 000, house was originally priced at $13 500 000.
Also, if you are searching for a latest of everything in a house the are number of new homes in Miami Beach on the market or if you are looking for stunning new home in Fort Lauderdale here it is one of the best choices of absolutely stunning Mediterranean waterfront estate with exquisitely furnished and decorated with exceptional attention to details with 100 feet of water frontage, gourmet kitchen w/subzero open to family room, private master suite with luxurious bath, all bedrooms with their own bath, all bedrooms w/their bath, Swarovski crystal chandeliers, Lurton system, elevator, impact windows/doors, mahogany paneled office , fireplaces , movie theatre, cameras, smart house, spectacular pool and spa with outdoor kitchen. Walking distance to Las Olas shops and restaurants www.400isleofcapri.com

If you are looking for a home in Miami Beach, Fort Lauderdale or South Beach the best time to buy is now.