News & Media

Islands of Calm

Islands of Calm
by Ruth Ferla

...REAL estate agents and developers do agree that a slump across the country, and in many parts of Miami, has not affected high-end markets. Second-home buyers on the Venetians (about 20 percent of the market there) typically pay from just below $200,000 to over $400,000 for an apartment on Belle Isle, and on other islands from about $1.3 million to over $7 million for a modern multibedroom villa with a commanding view of the bay...

...According to Jill Hertzberg, a partner in the Jills, a Miami Beach real estate agency, $7.4 million was the highest price paid last year for a single-family home, a 10,500-square-foot house on San Marco, directly on the bay…

...Value on the Venetians is measured by an increasingly fancy yardstick. Some people are spending over $3 million for homes so spacious and towering (as high as 45 feet) that they could pass for multi-unit dwellings. Most are packaged with features like open kitchens, hurricane-resistant glass shutters, overflow pools, rambling rooftop terraces for entertaining, and clinically sleek interiors…


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