Already one of the top cities in the United States, Miami has been recovering from a lot of the fiscal crisis recently and businesspeople are jumping at opportunities to capitalize on new investments. Here are some of the more interesting real estate and business moves we've spotted around Miami lately.
Condo associations share ownership of all sorts of things: pools, fitness rooms, freight elevators. Why not pieces of multimillion-dollar conceptual art?
Eduardo Costantini, a 66-year-old Argentine developer and art collector, is courting buyers at his second U.S. project, Oceana Bal Harbour in South Florida, by offering them ownership of two works by Jeff Koons, the New York-based artist famous for producing high-art versions of everyday objects.
The works, “Pluto and Proserpina” and “Ballerina” are both larger-than-life sized sculptures that Mr. Costantini says he purchased last year for $14 million. The first is an 11-foot tall work that depicts the classic theme of the rape of Proserpina, the Roman goddess of the spring, by Pluto, lord of the underworld. Read More
Valentino, Fendi, Tom Ford, Dolce & Gabbana, Harry Winston, Givenchy, Giorgio Armani and Van Cleef & Arpels.
All those ultra-luxury fashion and jewelry brands — and many more — will soon open their gilded doors in Miami’s redeveloped Design District, joining other high-end designers like Louis Vuitton, Hermès, Berluti, Emilio Pucci, Prada, Celine and Cartier, which have already set up shops.
Construction is underway, as the transformation of the once-gritty Miami neighborhood into a glamourous international luxury shopping destination takes shape. Already, some buildings have come down; security has been stepped up, greenery enhanced. Read More
The peak summer home buying season kept sizzling during August.
The median price of a single-family home in Miami-Dade County leaped 20.5 percent in August to $235,000 from $195,000 a year earlier, according to the Miami Association of Realtors.
Single-family home sales rose 15.1 percent in Miami-Dade to 1,210 closings in August from 1,051 a year earlier, the Miami Realtors said.
The inventory of single-family homes listed for sale in Miami-Dade increased 3.1 percent, but amid strong demand, that level amounted to just a 4.9-month supply of homes on the market, down from a 5.7-month supply a year earlier. Read More
