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Thought of the WeekPolitics is not a bad profession. If you succeed there are many rewards, if you disgrace yourself you can always write a book. |
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Sale of the Week
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Blog
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Thought of the Week – 7-26-2016
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Thought of the Week – 7-20-2016
Thought of the Week
When presenting “Negotiation Concepts applied to Real Estate Transactions” I use the example of a hairy hand as a diversion from the real issues.
Maybe Melania Trump’s speech plagiarism is a “hairy hand” for the media to talk about to distract from the real issues being decided at the republican convention.
If you want to learn more negotiating tactics you should attend my next negotiations class on Oct 11th at the Miami Realtor’s Headquarters.
Sale of the Week
2811 N Miami Ave
8,835 SF industrial. One 2-story building built in 1953 on 0.48 acres zoned D1. 2 grade doors.
- Details
- Size: 8,835 SF
- Sale Date: 7/18/2016
- Sale Price: $9,000,000 (with $5,400,000 of Seller Financing)
- Price per SF: $1,108
- Property Type: Wynwood Industrial
- Stores: 1
- Land Area: 0.48 (Acres)
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OFF MARKET: 290 Alhambra Circle
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[av_textblock size=” font_color=’custom’ color=’#ffffff’ av_uid=’av-12nbpa9′]290 Alhambra Circle
Coral Gables, Florida
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Signalized, hard-corner retail showroom for sublease at below market rates available for this absolutely stunning beautifully remodeled retail space finished in 2015. Excellent corner location on Alhambra Circle and Salzedo Street, across from historic Cafe Demetrio. Ready to move-in condition for retail use.DETAILS
- Space Available: 3,550 SF
- Availability: Summer/Fall of 2016
- Term: 6 years Remaining on current lease (Sublease expires in Sept of 2021)
- Space Type: Street Retail
- Lease Type: NNN
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FOR ADDITIONAL INFORMATION CONTACT
Andrew Dixon | (305) 498-9816 | Dixon Commercial Real Estate | [email protected]
Barbara Tria | (305) 790-5055 | Kerdyk Real Estate | [email protected][/av_textblock]
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Thought of the Week – 7-13-2016
Thought of the Week
June — too soon
July –stand-by
August–you must
September–remember
October– almost overThose of us in South Florida will understand.
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Thought of the Week – 6/27/2016
Thought of the Week
The future ain’t what it used be.
-Yogi Berra
Sale of the Week
3000 NW 2nd Ave
The best deal is Wynwood (this week)6,228 SF retail. One multi-tenant building built in 1952 on 0.17 acres zoned T5 O.
Details
- Size: 6,228 SF
- Sale Date: 6/22/2016
- Sale Price: $2,200,000
- Price per SF: $353
- Property Type: Retail
- Stores: 1
- Land Area: 0.17 (Acres)
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Thought of the Week – 6-20-2016
Thought of the Week
It takes 20 years to become an overnight success.
-Eddie CantorIn our case, holding the 2424 Building, it was more like 40. But who’s counting?
Sale of the Week
2424 South Dixie Hwy
10,402 SF two-story office. One building built 1985 on 0.2 acres zoned T4-O.
Details
- Size: 10,402 SF
- Sale Date: 6/13/2016
- Sale Price: $3,300,000
- Price per SF: $317.25
- Property Type: Office
- Stores: 3
- Land Area: 0.20 (Acres)
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Rubles, Reals and Real Estate
As commercial real estate brokers we are always being asked “What do you see for the future of Miami real estate”? Simply put real estate values and prices are a function of supply and demand just like any other product in the market place. As the demand increases and the supply remains constant, prices will rise. If the supply increases with no increase in demand, prices will decline. The real question is “When will the supply outpace the demand?” What we know is that we will see an increase in supply because of new construction. Another possible factor that may increase the supply of real estate for sale will be the exchange rate between foreign currencies and the US dollar.
One major factor impacting the real estate market has been foreign investors purchasing US real estate for reasons of both flight and fright. The flight purchases are made to secure an investment in a secure economic system. Fright purchases are made because the US provides a safe, crime free physical environment to live and raise a family.
Many purchases were made prior to 2010 when the exchange rates for foreign investments was very favorable and prices here in Miami we still relatively low. A Brazilian purchaser in 2010 would need 1.5 Reals to purchase 1 US dollar. Today this same purchaser will need almost 4 Reals to purchase 1 US dollar. A Russian purchaser in 2010 would need 30 Rubles to purchase 1 US dollar and today would need at least 80 Rubles to purchase 1 US dollar.
If these foreign buyers purchased real estate such as land or residences which require annual payments for real estate taxes and maintenance, the cost today to buy the US dollar to make the payments is many times more expense in terms of the local currency. This should decrease the demand by foreign buyers to acquire non-income producing real estate.
However, consider the reverse of the exchange rate. The condo purchased for $100,000 USD in 2010 for 150,000 Reals, if sold today for $100,000 USD could be converted into 400,000 Reals. So even if the price of the condo did not increase the exchange rate would generate a profit of 400%.
The impact of this favorable exchange rate may have the effect of stimulating foreign owners to sell their US investments and exchange US dollars for the local currency. An alternative is for foreign owners to convert their residences or second-homes into rentals, driving up the supply of rentals and impacting rental rates.While all this makes sense from a numbers perspective, there is another side to every coin. Since the increase in the exchange rates is a reflection of the economic and political conditions and many owners may decide to keep their investments in US dollars and assets, because they currently have no desire to hold their own countries currency. So until such time as foreign countries become more stable expect owners to maintain their US investments.
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SOLD: West Kendall Buildable Lots
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Sold
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[av_textblock size=” font_color=” color=”]ZONING:
2300 Estates – 1 Acre
LOCATION:
SW 100th St between SW 123rd Ave to SW 124nd Ave
SITE SIZES:
42,689 SF / Lot x 2
PERMITTED USES:
Residential Single FamilyThese two beautiful one acre home sites in West Kendall are now available. Build your dream home or invest in the future. Additionally the sites could potentially be subdivided into four equal sites (ex: 12400 SW 100 ST & 12420 SW 100 ST).
Lots are available for purchase together or separately.
East Lot
PARCEL ID: 3059010000450
MLS ID: A10031018West Lot
MLS ID: A10031061
PARCEL ID: 3059010000490
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$499,900 / Lot
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Call: 305.443.4996
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Intro to Negotiations Class – Powerpoint
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If you’ve attended Tom’s Intro to Negotiations Class and want to download a copy of the Powerpoint presentation you can do that here.
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Crockett and Tubbs Visit The 2424 Building
Did you know The 2424 Building has been featured in Miami Vice?
Crockett and Tubbs Visit The 2424 Building
Watch the Full Episode “Forgive Us Our Debts” [av_button label=’WIKI’ link=’manually,http://miamivice.wikia.com/wiki/Forgive_Us_Our_Debts’ link_target=’_blank’ size=’small’ position=’center’ icon_select=’no’ icon=’ue800′ font=’entypo-fontello’ color=’theme-color’ custom_bg=’#444444′ custom_font=’#ffffff’ av_uid=’av-6bh4aq’]
on [av_button label=’NBC’ link=’manually,http://www.nbc.com/classic-tv/miami-vice/video/forgive-us-our-debts/n30591′ link_target=’_blank’ size=’small’ position=’center’ icon_select=’no’ icon=’ue800′ font=’entypo-fontello’ color=’theme-color’ custom_bg=’#444444′ custom_font=’#ffffff’ av_uid=’av-48u7wi’] or [av_button label=’HULU’ link=’manually,http://www.hulu.com/watch/51391′ link_target=’_blank’ size=’small’ position=’center’ icon_select=’no’ icon=’ue800′ font=’entypo-fontello’ color=’theme-color’ custom_bg=’#444444′ custom_font=’#ffffff’ av_uid=’av-2bxamq’]