The Douglas Elliman Real Estate just released its third quarter report for residential real estate sales that closed from July 1st to September 30th. This detailed analysis reflected a continued healthy market with more closed sales, a demand for inventory and record prices.

According to the report, Third Quarter 2015 had 4,087 closed sales, a 3% increase from Third Quarter 2014 and the third highest number of closings in the last two years. Signed contracts were up 11% from last year leading to one of the strongest summer selling seasons in the last five years.

New development activity was a major contributing factor in the increase in closed sales. Presales from 2013 and 2014 are now completing construction allowing units to close and residents to move in. The increasing presence of new development in Manhattan will continue to drive closed sales activity over the next several years.

With so many new development sales, the median price for an apartment in Manhattan reached $999,000, a ten year high. The median price per square foot is no $1,284, up 11% from 2014.

For the fourth time in the last ten years, the number of properties available for sale in Manhattan fell below 5,000. Increasing sales combined with decreasing inventory has resulted in the rise of sales prices.

The overall median price was up 12% year-over-year to nearly $1 million, its highest level in more than ten years, and averages price increased 4% year-over-year to $1.714M.

If you are interested in the Manhattan real estate market, please contact Randy Ely and Nicholas Malinosky. They enjoy networking with Corcoran’s finest luxury real estate agents in New York City. Whether looking to sell or buy, Randy and Nick welcome the opportunity to assist you with your Florida and New York real estate needs.
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A new waterfront listing just hit the South Florida luxury real estate market. The beach area estate located at 4325 Tranquility Drive in Highland Beach, Florida was listed in the Multiple Listing Service on October 19, 2015 for $2.795M. The two story residence is also featured on Corcoran.com, Zillow, Trulia and Realtor.com.

This Highland Beach waterfront estate is just off A1A on the exclusive island of Bel Lido Isle with 115 feet of direct deep waterfrontage and an 80+ foot dock. Meticulously maintained, many of the amenities are in pristine, brand new condition. Features include abundant natural light and stunning tropical views of the pool, lush landscape and water; spacious first floor master wing which opens to the patio and pool; fantastic open kitchen and family room; four additional en suite guest room; and large balcony overlooking the pool and water. The grounds offer lush tropical landscape surrounding the pool and spa with cabana bath. Incredible dockage with power and water for large watercraft with easy ocean access nearby. Impact doors and windows, security system, central vacuum, and large three car garage. An incredible boating community, Bel Lido Isle is one of the most sought after waterfront communities complete with beach access across A1A and unparalleled security patrol. Many of the appliances are brand new and have never been used and four bedrooms including the master suite have never been occupied. All air conditioners are under warranty and roof was also replaced and is currently under warranty.

This amazing waterfront residence is exclusively listed by Randy Ely and Nick Malinosky of the Douglas Elliman Real Estate. REAL Trends/Wall Street Journal, The Thousand recently ranked Randy and Nick as #1 in Florida and #9 in the nation for Top Team Average Sales Price of $8.17M. Their current luxury listing inventory includes not only 4325 Tranquility Drive, but also a beach area estate in Gulf Stream (330 Banyan Rd) and another in Delray Beach (1202 Vista del Mar Dr N). Randy and Nick closed 916 Bermuda Gardens Dr on September 4, 2015.

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There are currently two single-family direct oceanfront homes for sale in Ocean Ridge, Palm Beach County, Florida according to Beaches Multiple Listing Service (MLS). Both of these luxury oceanfront estates are located in the Estate Section of Ocean Ridge and are not governed by a Homeowner’s Association.

6125 North Ocean Boulevard by Mark Timothy Inc. is currently under construction and offers 115 feet of direct ocean frontage with approximately 300 feet of depth. Scheduled to be completed in 2016, the residence will have 5 bedrooms, 8.2 baths, 10,199 square feet under air and 12,769 total square feet. Features include an open floor plan, gourmet kitchen, family room which opens to two covered loggias, formal living and dining rooms, game and billiard room, his and her offices, bar and wine room, second floor master suite with his and her closets and baths, en suite guest rooms, loft, and unfinished space above four-car garage which can be converted to two additional bedrooms, gym, theater or whatever the client desires. The gated compound will feature professional landscaping, oceanside pool and spa with cabana bath, and outdoor loggias and terraces for entertaining. Other features include elevator, lighting and security systems, and full house generator. Designed by Affinity Architects, the home will be professionally decorated by Marc Michaels Interiors. The oceanfront estate is exclusively listed by Randy Ely and Nicholas Malinosky and is listed at $17.95M. Read More

The four most expensive homes currently listed for sale in Beach Multiple Listing Service (MLS) are all located on the island of Palm Beach, Florida. Three of the luxury waterfront estates are oceanfront and one is direct Intracoastal. None of the properties are governed by a mandatory homeowner’s association.

1071 North Ocean Boulevard offers approximately 240 feet of direct ocean frontage. The brand new residence is currently under construction and will offer 8 bedrooms, 7.1 baths, 32,661 square feet under air and 35,993 total square feet. Features will include a grand salon, dual ocean balconies, massage room, bowling alley, home theater, pub room, game room, library, and 8 car garage. The expansive grounds will include an oceanside pool. The oceanfront estate is currently listed for $84.5M.

1485 South Ocean Boulevard offers approximately 300 feet of direct Intracoastal frontage. Built in 2000, the residence has 7 bedrooms, 9.2 baths, 15,398 square feet under air and 22,164 total square feet. Features include wide water views and a combination of old world elegance and modern amenities. The gated compound has spacious grounds and a waterfront pool. The Intracoastal estate is currently listed for $67.5M.

89 Middle Road is located on over 4 acres with direct oceanfrontage. The oceanfront compound is comprised of two main residences plus three guest/staff houses with a total of 10 bedrooms, 11.4 baths, 17,874 square feet under air and 20,852 total square feet. One main residence was designed by Addison Mizner and built in 1921 with 5,541 square feet. The other main residence was designed by Wyeth with 12,712 square feet. The compound features manicured lawns and established landscape. The oceanfront estate is currently listed for $59M.

640 South Ocean Boulevard is located across the street from the ocean with unobstructed views. Built in 2013, the residence has 8 bedrooms, 9.3 baths, 11,735 square feet under air and 15,721 total square feet. Features include marble and wood floors, oceanfront balcony, and covered poolside loggia with fireplace. The manicured grounds include a pool and terrace with landscaped green spaces and yard. The oceanfront estate is currently listed for $42.9M.

If you are interested in these Palm Beach waterfront estates or any other luxury beach area real estate opportunities in South Florida, please contact Randy Ely and Nick Malinosky; The #1 Luxury Team in the Beach Area. Read More

A national sales report released this week by NRT owned Coldwell Banker Previews ranks Miami Beach #5, Delray Beach #13 and Palm Beach #16 for the highest number of luxury homes sales closed at $10M or more during the 12 months that ended June 30, 2015 based on Multiple Listing Service (MLS) data.

Delray Beach made its first appearance on the list taking the 13th slot with 8 sales that sold for $10M or more, the highest price category. Palm Beach also made its first appearance in the top 20 at #16 with 7 sales.

The report suggests that the economic fundamentals boosting South Florida’s luxury real estate market are also driving luxury housing markets across the United States.

The top five cities are as follows: New York City was ranked as #1 with 217 sales that sold for $10M or more; Beverly Hills was ranked #2 with 34 sales; Los Angeles was ranked #3 also with 34 sales; Aspen was ranked #4 with 24 sales; and Miami Beach came it at #5 with 20 sales. Another Florida city made the top ten with Naples ranked #7 with 20 sales.

Palm Beach also ranked 14th on the list of sales recorded between $5M and $10M with 36 transactions. New York City also led the $5M to $10M category with 786 sales; Los Angeles came in 2nd with 130 sales; Beverly Hills ranked 3rd with 111 sales; Miami Beach came in 4th with 87 sales; and Naples rounded out the top 5 with 79 sales. Boca Raton made the $5M to $10M category at 17th with 32 sales.

The report also ranks cities based on number of active listings in similar price ranges. Palm Beach and Miami Beach both made the top 20 with Miami Beach coming in at #2 behind New York City.

Coldwell Banker’s southeast Florida senior regional vice president, Duff Rubin believes Palm Beach’s presence in the top 20 supports an overall trend. Rubin stated that ‘œthe affluent are considering Florida as a destination for primary homes rather than vacation residences, drawn by the climate and state’s favorable tax picture’.

The report does not take into account properties that sold but were not listed in the MLS. As luxury real estate agents know, high-end properties are often sold without being published in MLS in order to meet a client’s request.

Coldwell Banker is owned by NRT which also owns the Douglas Elliman Real Estate and Sotheby’s International Realty. Read More

There are currently three single-family direct oceanfront homes for sale in Gulf Stream, Palm Beach County, Florida according to Beaches Multiple Listing Service (MLS) and one additional home available for sale that is not in MLS at this time. All four of these properties are in the town of Gulf Stream and are not governed by a mandatory homeowner’s association.

2817 North Ocean Boulevard offers 200 feet of direct ocean frontage with 288 feet of depth. Built in 1926, the residence has 6 bedrooms, 10.3 baths, 9,081 square feet under air and 12,623 total square feet. Originally designed by Addison Mizner and completely restored in 2009, features include limestone floors, cypress cathedral ceilings, gourmet kitchen, elevator, impact glass mahogany windows, rooftop terrace, dance studio, gatehouse, garden house and many antique and restored original finishes. The gated and professionally landscaped compound is complete with courtyards, terraces and pool with cabana, changing pavilions and steam room. The oceanfront estate is currently listed for $24.9M.

1275 North Ocean Boulevard offers 135 feet of direct ocean frontage with 507 feet of depth. The brand new residence by Seaside Builders has 6 bedrooms, 6.3 baths, 8,915 square feet under air and 11,304 total square feet. Professionally decorated and offered furnished, features include entry foyer with dual grand staircase, formal living and dining rooms, gourmet eat-in kitchen, first floor master suite with sitting room and oceanfront loggia, fireplaces, hardwood and marble floors, elevator, and custom finishes and millwork throughout. The gated compound is professionally landscaped and includes a 50 foot seaside pool and covered loggia. The oceanfront estate is currently listed for $19.75M and is exclusively listed by Randy Ely and Nick Malinosky. Read More

There are currently two single-family direct oceanfront homes for sale in Delray Beach, Palm Beach County, Florida according to Beaches Multiple Listing Service (MLS). Both of these luxury oceanfront estates are located south of Atlantic Avenue in the Estate Section of Delray Beach and are not governed by a Homeowner’s Association.

711 South Ocean Boulevard offers 114 feet of direct ocean frontage with 765 feet of depth. Built in 1996, the residence has 6 bedrooms, 9.3 baths, 12,020 square feet under air and 15,310 total square feet. Features include an open floor plan with 25 foot ceilings, marble floors, elevator, fireplace, first floor master suite, office, gym and 1 bedroom/1 bath staff quarters. The grounds are meticulous with a decorative front driveway complete with fountain and perfectly landscaped backyard with pool and spa overlooking the beach. The oceanfront estate is currently listed for $16.975M.

1171 South Ocean Boulevard offers 100 feet of direct ocean frontage with 408 feet of depth. Built in 1994, the residence has 7 bedrooms, 8.3 baths, 9,761 square feet under air and 12,107 total square feet. Features include marble and hardwood floors, gourmet kitchen with full-service catering kitchen, butler’s pantry and wine room, elevator, several fireplaces, first floor master suite, paneled office, central lighting system and two bedrooms with separate entrance which can serve as staff quarters. The residence has been renovated to include new air conditioner, new exterior and interior paint and several renovated bathrooms. The gated compound offers manicured lawns, custom landscape and a seaside pool and spa with separate cabana bath, outdoor terraces and dining loggia. The oceanfront estate is offered at $11.95M and is exclusively listed by Randy Ely and Nick Malinosky.

If you are interested in these Delray Beach direct oceanfront homes or any other luxury beach area real estate opportunities in South Florida, please contact Randy Ely and Nick Malinosky; The #1 Luxury Real Estate Team in the Beach Area.

The Coastal Star, a Palm Beach County publication dedicated to the beach area local news, found the Douglas Elliman Real Estate’s September luxury oceanfront sales activity to be newsworthy. Three oceanfront estate sales are covered in the October Business Spotlight edition of the Coastal Star including the record breaking $33M sale at 800 South Ocean Boulevard, Manalapan, Florida. Article details include price, sellers, buyers, builders, interior designers and listing agents (all from Douglas Elliman Real Estate). Randy Ely and Nick Malinosky were the exclusive listing agents for 860 South Ocean Boulevard in Manalapan, Florida. This healthy luxury oceanfront market activity is a great way to kick off the South Florida real estate season. Read More

A new direct oceanfront listing just hit the South Florida luxury real estate market. The luxurious estate located at 1171 South Ocean Boulevard in Delray Beach, Florida was listed in the Multiple Listing Service on September 28, 2015 for $11.95M. The opulent residence is also featured on Corcoran.com, Zillow, Trulia and Realtor.com.

Located in the coveted Estate Section of Delray Beach, the gated compound enjoys 100 feet of direct oceanfrontage and over 400 feet of depth providing the perfect setting for this resort-style estate. Boasting stunning ocean vistas and over 12,000 square feet, features include formal living and dining rooms, gourmet kitchen and open family room with fireplace, first floor master suite with private loggia, home theatre room, paneled office, six additional guest rooms, a third floor observation deck, cathedral ceilings, marble and hardwood floors, and much more. The manicured grounds and custom landscape create the perfect setting for the seaside pool and spa, outdoor dining loggia and open terraces. Recent improvements include exterior and interior paint, brand new a/c and several renovated bathrooms.

This magnificent oceanfront residence is exclusively listed by Randy Ely and Nick Malinosky of the Douglas Elliman Real Estate. REAL Trends/Wall Street Journal, The Thousand recently ranked Randy and Nick as #1 in Florida and #9 in the nation for Top Team Average Sales Price of $8.17M. Their current luxury oceanfront listing inventory includes not only 1171 S Ocean Blvd, but also two oceanfront estates in Gulf Stream (1275 N Ocean Blvd and 1255 N Ocean Blvd) and another in Ocean Ridge (6125 N Ocean Blvd). Randy and Nick closed 860 S Ocean Blvd, Manalapan on September 4.

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The Douglas Elliman Real Estate sold $84M worth of direct oceanfront single-family homes along Palm Beach County’s coastline in the month of September alone! Listing agents from the Palm Beach and Delray Beach Corcoran offices sold the following exclusive listings this month: 800 South Ocean Boulevard, Manalapan, Florida listed at $34.9M; 860 South Ocean Boulevard, Manalapan, Florida listed at $16.495M by Randy Ely and Nicholas Malinosky; and 969 South Ocean Boulevard, Delray Beach, Florida listed at $19.975. Corcoran also had the buyer for 969 South Ocean Boulevard resulting in double the sales volume. This is great news going into season and reflects that the oceanfront market is quite healthy. Please feel free to contact Randy and Nick regarding the luxury oceanfront real estate market.