A Guide on Picking New Sunny Isles Beach Projects
Global Realty Partners has decided to start coverage of new preconstruction project for its clients. The point of this guide is to give advice on which of new projects are more or less attractive for investors, as well as from a resident's point of view. We decided that the following factors must be taken to consideration upon review:
1) Location, location, location. Of course, location is the most influential factor for reviewing. Even in a few cities with a shoreline 1 mile or less, some of the projects there are going to be less or more attractive. For residents, another decisive factor is the traffic, and if you reside next door to a school, most people will find it a disadvantage due to high traffic at school days.
2) Size of the site. The size of the lot is obviously the most significant factor. You can have the most desirable land in the world, but not have enough of it for a decent project, due to the use of restrictions. With that, you will only be able to build half of what you wanted originally.
3) How close are you to nearest restaurants, shops, etc.? Everything what we usually call developed infrastructure. For a lot of Europeans, as well as South American buyers, developed infrastructure is the most crucial factor for choosing for a place of living.
4) How close are you to the highway and the nearest airports? Miami is becoming an International City, as it sits close to Miami International and Fort Lauderdale airports, becoming a highly valuable factor. For example, Sunny Isles Beach is located just in the middle of those airports, which becoming an immensely valuable factor to many foreign visitors.
5) Availability of public transportation is a crucial issue. A lot of foreigners consider it one of the most decisive factors. In Europe, public transportation is one of the most significant factors in general. When foreigners go to the US, they feel lost. 10 years ago someone would have to wait for a while just to take a bus from Bal Harbour to Aventura Mall. Now it has become easy.
6) The view and how close are you to the next building. Now due to high density, it has become highly valuable to have some place to relax. It is more valuable to have the city park across the street than another high-rise building.
All those factors have been taken to consideration while we have reviewed the 5 projects in Sunny Isles Beach, which will be due for construction this year or the beginning of 2013. Most of the projects are planning to occupate residents in the years 2014-2016.
Site Plans attractiveness in Sunny Isles Beach
1) New project of Fortune Group. The plans have not been realized to a public yet, but according to our resourse will be realezed after January 15,2013.The site is located just north of Sands Pointe, a building which was completed a 1994 and south of the relatively new Jade Beach.
2) Mansions at Acqualina. This land was ready for construction for a while and is located just south of the existing Acqualina condo. Develop, Trump Group has managed to build and almost sell out his new project at Luxuria at Boca Raton. The building is supremely successful, as it has only 24 units for residences and only 2-3 units left from the developer at its current point.
3) Porsche Design Residences. This site is located next to Trump Royale, and might be superior to Mansions at Acqualina, but has a large disadvantage. It is located across the street from Publix and Sunny Isles Beach Elementary School, which are terribly crowded places during the week.
4) Regalia Condominium. The lot has been ready for construction for last 10 years, and will have one of the best or if not the best view in town, but has one disadvantage. The lot size will allow only narrow buildings and/or splitting it like in case of Chateau Beach. The architect proposes to build mansions, with one per floor with oversize balconies. The building will look quite sexy, but maintenance will certainly not be cheap.
5) Chateau Beach. Although the analysts of Global Realty Partners do see that Kobi Karp have done an admirable job panning the building, it is tough to imagine how the will put the buildng and make decent entrance to it. The proposed plans are made for the size of land of about 1 acre, which is about 46000 sq ft. The sizes of the land in Sunny Isles Beach are at least 300 feet deep. This means that the developer will have only 150 feet of land to build. If someone subtracts 30 feet from each side, that will leave the developer with a particularly narrow building. The project is proposed for 84 units almost the same like 2 buildings at Bal Harbour, Bellini at Bal Harbour and The Palace at Bal Harbour. Both condos have 22 stores compare to 35-store building Chateau. Bellini at Bal Harbour is considered an exceedingly narrow building, but the size of the lot is about 50% larger than that of Chateau Beach. The Palace at Bal Harbour has land of at least twice the size of Chateau, with the same amount of units. Do you see the difference?
Chteaau Beach aslo has some advantages. It located next to the Sunny Isles park and the distance to the next building to the south will be close to 200 yards, which is not so easy to find in Sunny Isles and Bal Harbour.