zichelle team | miami real estate showcase & market trends

South Florida Market Trends1

Miami Real Estate P R O P E R T Y S H O W C A S E & M A R K E T T R E N D S


Preface

In recent years, South Florida has regained traction and has become one of the most sought after markets for

investors and homebuyers. With a quarter of the calendar year remaining, our team is emerging as an industry

leader, breaking sales records and reaching new heights. Led by Joseph Zichelle, one of the most proven agents

in the field over the past fifteen years, our group has quickly become a go-to resource for both buyers and sellers.

Combining our vast knowledge of the area and our members’ diverse skill sets, our team’s reach extends to

every corner of the market, including, but not limited to, high-end luxury, new construction, income-producing

properties, hospitality, retail, shovel-ready developments, and property management. Notably, we have closed over

$45M,have $90M pending, and over $700M in the pipeline. We have expanded our network and touch nearly every

niche in South Florida.

Our team goes above and beyond the industry standards regarding any and all transactions, and our end-to-end

services are immeasurable. Particularly, we have formulated a marketing strategy that remains incomparable,

allowing us to remain a significant step ahead of the elevated level of contest in the region. For instance, one of

our newest endeavors, The Brickell Scoop, has pumped dynamic energy into the Brickell community, one of the

most rapidly expanding segments of the market.

Our cohesive group continues to grow with immeasurable potential, sprouting with a plethora of skills, experience,

and a competitive edge that enables us to remain a sought after resource. Each team member’s specialty,

combined with a group-wide focus and discipline, allows us to maintain our goal of consistently remaining the

most successful team in the field, a trajectory on which we already find ourselves due to incoming investor capital

and our unmatched ability to navigate others through the South Florida market, which remains as accelerated and

flourishing as ever.

The following pages offer a clear indication of the year’s market trends, as well as opportunities that still exist in

the current market. We hope you find South Florida Real Estate Trends an informative and stimulating glimpse

into the state of the marketplace and helpful as you chart your own path in South Florida.

Joseph ZichellePrincipal | The Zichelle TeamOne Sotheby’s International Realty


M A P O F S O U T H F L O R I D A N E I G H B O R H O O D S 4

M I A M I-D A D E R E S I D E N T I A L S TAT S 5

B R I C K E L L C O N D O M A R K E T 6

T H E B R I C K E L L S C O O P 7

S O U T H B E A C H C O N D O M A R K E T 8

S O U T H B E A C H L I S T I N G S 9

W H E R E W O U L D Y O U L I V E ? 10 -11

O N E S I R C O M M E R C I A L D I V I S I O N 12

Z I C H E L L E T E A M S I G N I F I C A N T S A L E S & P R O P E R T I E S U N D E R C O N T R A C T 13

C O M M E R C I A L S E R V I C E S 14

T H E Z I C H E L L E T E A M 15

TableOf Contents


Western Suburbs Southwest Ranches Plantation Sunrise Weston ParklandBroward | North End Lauderdale-by-the-Sea Hillsboro Beach Lighthouse Point Bay Colony Sea Ranch The Landings Coral Ridge / C.R. Country Club East Fort Lauderdale Las Olas Isles Harbor Beach Fort Lauderdale Beach Rio Vista Victoria Park & Colee Hammock Sunrise KeyBroward | South End Hollywood Beach Hallandale Beach

Miami | North End Aventura Golden Beach Bal Harbour Surfside Sunny IslesThe Islands Bay Harbor Islands Indian Creek Normandy Isles La Gorce Sunset Islands Venetian Islands Palm/Hibiscus/Star Islands Fisher Island Key BiscayneMiami Beach South Beach Mid Beach North BeachDowntown Miami Midtown Edgewater Downtown Miami BrickellMiami | South End Coconut Grove Coral Gables Pinecrest Palmetto Bay CocoPlum Gables Estates Snapper Creek Lakes Ponce-Davis & High Pines Old Cutler Bay

Broward County

Miam

i-Dade County


Miami-Dade County’s housing market offers a broad variety of single-family, townhome and condominium

properties. From 10-million-dollar-plus mansions in exclusive waterfront enclaves like Indian Creek Village and

Golden Beach to downtown Miami skyscrapers and historic Coral Gables properties, Miami-Dade’s luxury market

is substantial and diverse. Miami has a vibrant and growing condominium market of both new and resale homes

and a strong luxury, single-family market, reflecting its emergence as a globally significant property market that

attracts buyers from throughout the Americas and beyond.

Number of Transactions (YTD)

Average Price per Square Foot (YTD) 1

935

$445

Luxury Spotlight (YTD)

$1M to $5M Transactions

$5M to $10M Transactions

$10M+ Transactions

Avg. Home Price

$2,058,176Avg. Home Price

$6,834,424Avg. Home Price

$15,966,667

# Sold

37239.8% of total transactions

# Sold


# Sold


# Listed

996# Listed

128# Listed

91

* Numbers include only the county’s most prominent neighborhoods.

Miami-DadeResidential Stats


BrickellCondo Market

Two of Brickell’s three submarkets (Brickell Waterfront, Brickell Non-Waterfront and Brickell Key) saw strong

appreciation, with waterfront properties leading the increase at 11%. Brickell has become one of the most popular

condo submarkets in the current development cycle, and resale prices of $450 PSF to $670 PSF are supporting

pricing on new developments. The highly anticipated Brickell City Centre (to be delivered next year) will be the

bellwether for Brickell’s non-waterfront market moving forward.

The Condo Market: Brickell (YTD)1,2 The Condo Market: Brickell Key (YTD)1,2

% Sample Traded † % Sample Traded †Avg. Sales Price Avg. Sales PriceAvg. S.F. Avg. S.F.Avg. $/S.F. Avg. $/S.F.% Change ($/S.F.) % Change ($/S.F.)

NWF ‡ 2% g 7%$450979$440,097

WF ‡

WF ‡

2%

1%

$670

$565

1,612

1,658

$1,080,039

$936,611

g 11%

h 4%

3 bedrooms 3 full, 1 half bathrooms 2,457 square feet

1 bedrooms 2 full, 3 half bathrooms starting at 1,100 sf



The Epic, Miami | $2,999,900

Brickell Flatiron, Miami | Starting at $600/ S.F

Jade Brickell, Miami | $4,199,000

The Plaza, Miami | $1,675,000

200 S. Biscayne Boulevard, Suite 5001

1001 South Miami Avenue

1331 Brickell Bay Drive, Suite PH4506

951 Brickell Avenue


A Miami social club created by ONE Sotheby’s Relators Elliot Machado and

Joseph Zichelle.

The Brickell neighborhood located near downtown Miami is arguably one

of the hottest locations in South Florida right now, boasting a host of brand

new luxury high rise condominiums, a thriving foodie scene, and soon to

be world class shopping and entertainment within Brickell City Center.

Elliot and Joseph perceived this as a unique opportunity to cultivate a

community of ‘Brickellites’ through social media by keeping fans updated

on the people, places and things they need to know to navigate the good

life in Brickell. With this goal in mind, they used the platform to connect

fans with Brickell venues by hosting two monthly social events ranging

from happy hour, health and fitness, shopping and other community friendly

gatherings to bring together real people that live, work, and play here.

This social aspect gives Elliot and Joseph the opportunity to reach people

they would never get the chance to meet or get in front of. The friendly and

professional reputation of The Brickell Scoop has created quite the stir in

the Miami social scene, inspiring brands like CitiBank to align themselves

with the group in sponsoring most of their events.



South BeachCondo Market

Spotlight: South of Fifth (YTD)1

Apogee

AverageSales Price ^

$8.00M

AveragePPSF^

$2,578

No changefrom

1st Half 2014

Continuum South

Continuum North

Murano Portofino

Portofino Tower

Murano Grande

Icon South Beach


$2.80M

AveragePPSF^

$1,279

g 24%

from 1st Half 2014


$4.73M

AveragePPSF^

$1,891

h 13%

from 1st Half 2014


$2.30M

AveragePPSF^

$1,877

g 15%

from 1st Half 2014

AverageSalesPrice ^

$3.35M

AveragePPSF^

$1,454

g 1%

from 1st Half 2014


$3.00M

AveragePPSF^

$1,345

g 35%

from 1st Half 2014


$1.54M

AveragePPSF^

$1,012

h 5%

from 1st Half 2014

The Condo Market (YTD)1,2

% Sample Traded † Avg. Sales Price Avg. S.F. Avg. $/S.F. % Change ($/S.F.)

NWF‡ 1% g 5%$6711,158$776,750

WF‡ 2% $1,5641,900$2,971,102 g 7%

1. All percentage changes were calculated comparing 1st Half 2015 to 1st Half 2014.

South Beach has remained an undoubtedly popular submarket, attracting local, domestic

and international buyers alike. Pricing at the sought-after South Beach condominiums

Continuum North, Portofino Tower and Apogee has continued to steadily increase, at an

average of 15%–35% per square foot. New mid- and high-rise condominiums such as Marea

and Glass sold very well, reflecting untapped demand in the submarket, particularly in the

exclusive South of Fifth area.

5004 N Bay Road, Miami Beach7 bedrooms 10 full bathrooms

17,055 sf living 5004NBayRoad.com

Asking price: $35,900,000

30 Palm Avenue, Miami Beach8 bedrooms 8 full, 1 half bathrooms

14,000 sf living 30PalmAv.com


4730 N Bay Road, Miami Beach7 bedrooms 9 full, 2 half bathrooms

14,000 sf living 4730nbayroad.com



The Zichelle TeamSignificant Luxury Sales

Under Contract

Sold

Sold

Sold

Fisher Island, FL 331097066 Fisher Island Drive

Miami Beach, FL 33139425 E Dilido Drive

Key Biscayne, FL 33149350 Ocean Drive, Unit 503-N

Miami Beach, FL 33139445 E Dilido Drive

Offered at: $8,100,000

Sold at: $3,650,000

Sold at: $4,450,000

Sold at: $3,750,000


PROUDLY REPRESENTING SOUTH FLORIDA’SMOST PRESTIGIOUS NEW RESIDENCES

Brickell City Centre, Miami One Thousand Museum, Miami

L’Atelier, Miami Beach The Residences at W South Beach, Miami Beach

Riva, Fort Lauderdale Metropica, Sunrise

Starting at $595,000 / Completion: 2015 Starting at $5.5M / Completion: 2017

Starting at $4M / Completion: 2017 Starting at $995,000 / Completed

Starting at $645,000 / Completion: 2017 Starting at $290,000 / Completion: 2017

Where would you live?


The Ritz-Carlton Residences, Miami Beach Oceana, Bal Harbour

Three Hundred Collins, Miami Beach Louver House, Miami Beach

Kai at Bay Harbor, Bay Harbor Islands Gale, Fort Lauderdale

Starting at $2M / Completion: 2016 Starting at $1.8M / Completion: 2017

Starting at $1.2M / Completion: 2017 Starting at $2.5M / Completion: 2017

Starting at $612,000 / Completion: 2016 Starting at $400,000 / Completion: 2016


ONE Sotheby’s International RealtyCommercial Division

ONE Sotheby’s International Realty continues to receive worldwide

recognition delivering on exceptional service and financial performance.

The reason for its success is simple: consistently providing clients with

exceptional service and results is our priority. Meeting the client’s demand

for additional assistance while maintaining the outstanding service

synonymous with the Sotheby’s brand has led the firm to expand its

offerings to include the Development Division in 2012 and the Commercial

Division in 2015. ONE Sotheby’s International Realty’s Commercial Division

offers a full platform of commercial real estate services providing brokerage

as well as advisory expertise. Delivering on the legacy of exceptional service

and results consistent with the firm, our client’s needs are proudly served

throughout South Florida with over 450 sales associates in eight offices.

The ONE Sotheby’s International Realty Commercial Division provides

commercial real estate solutions with the singular objective of helping its

clients achieve their business goals. Our team of Commercial Property

Specialists are dedicated to providing exceptional service while maximizing

value for the properties we represent. This is accomplished by developing

professional relationships with local and global industry leaders, providing

strategic exposure for our listings and keeping current with market trends.



Zichelle TeamSignificant Sales & Under Contract Properties

Multi-Family:

Retail & Office Space:

Sold Under Contract

3630 NE 1st Court 1516 Ponce De Leon:

Sold at: $7,000,000 Offered at: $4,000,000

Sold Sold

1023 SW 6th Street 435 SW 12th Avenue

Sold at: $10,700,000 Sold at: $6,700,000

Cap rate: 4.5% Cap rate: 4%

Under Contract Under Contract

120 SW 8th Avenue 1430 SW 1st Street

Offered at: $14,950,000 Offered at: $12,000,000

Cap rate: 3.5% New Construction


• Strategic leasing program• Financial analysis• Marketing program• Lease negotiations• Market analysis• Target tenant analysis• Increased asset value through occupancy

• Property acquisition • Property disposition• Investment analysis• Sales/leaseback• Portfolio strategy• Development opportunities

• Investment objective analysis and portfolio strategy• Target market analysis (clientele)• Logistics assessment• Property and asset availabilities survey• Competitive site analysis • Identify potential development opportunities • Property assessment and valuation for acquisition

• Property assessment and valuation for disposition • Competitive property analysis • Target market analysis (investor/occupier)• Sales/Leaseback option analysis• Development opportunity evaluation• Marketing program

• Strategic leasing program focused on tenant retention• Financial analysis of asset to drive value• Marketing program showcasing unique asset profile• Lease negotiations of current and new tenants• Market analysis factoring current trends, availabilities, competing assets

and future inventory• Target tenant analysis securing credit- worthy tenants, while attracting

desired businesses• Increased asset value by maximizing occupancy

• Partner with business owners and leaders to fully understand the goals

• Building and space requirement assessment • Zoning and special use required assessment• Budget objective and occupancy costs• Target market analysis for maximum exposure• Competitive site and lease analysis• Market availabilities and survey report

• Building and space requirements assessment• Zoning and special use required assessment• Budget objective and occupancy costs adherence • Target market identification and analysis• Competitive site analysis• Market surveys• Retail data analysis• Demographic research and reports• Aerial site mapping/co-tenancy analysis• Letter of Intent• Lease negotiations (relocations, renewals, expansions,

downsizing and extensions)

• Investment sales and acquisitions • Hospitality sales • Multi-family and mixed-use sales• Land sales and acquisitions• Retail sales and leasing• Office sales and leasing• Industrial/distribution center sales and leasing • Healthcare sales and leasing• Education sales and leasing• Legal sales and leasing• Senior Housing sales and leasing• Non-profit sales and leasing

We partner with our clients to understand their objectives. Our professionals strive to deliver optimal solutions and to ensure their clients achieve their

business goals. Our Commercial Division offers a variety of services, including:

End-to-EndCommercial Services

Brokerage and Advisory Services:

Landlord Representation:

Purchase:

Sale:

Landlord Representation:

Tenant Representation:

Tenant Representation:

Investment Sales and Acquisition:


For nearly 15 years, Joseph Zichelle has built a reputation in real estate

for breaking records and delivering results.

Recognizing that no man is an island unto himself, Mr. Zichelle sought

out professionals that shared his passion for excellence. The Zichelle

Team is the result of his search and curation of the best talent in the

industry. The Zichelle Team members currently include Ani Sierra, Elliot

Machado, Mehmet Cereb, Jesse Spencer Ashley Davis and Oren Katz.

Team members were each hand selected, and inclusion in the team

requires a belief in a culture of meritocracy and collaboration. Invitation

to join the team is extended by Mr. Zichelle only once per annum, with

less than 2% of applicants approved to join.

The Zichelle TeamMeet Our Members

“Technology is, by definition, the application of knowledge. Using technology in real estate is not about making pretty websites, it’s about applying a depth of rich knowledge that leads to results. A good looking website can complement such expertise, but it can never be a substitute.”

While The Zichelle Team members maintain a diverse range of skill sets, all

are adept at utilizing technology with an early adopter mentality. This goes

well beyond the industry standards and is part of Mr. Zichelle’s personal

philosophy, which views technology as follows:

— Joseph Zichelle

Joseph ZichellePrincipal

[email protected]

Elliot MachadoSales AssociateCo-founder of The Brickell Scoop

[email protected]

Jesse SpencerDirector of OperationsSales Associate

[email protected]

Ashley DavisExecutive Assistant to Joseph ZichelleLeasing Associate

[email protected]

Ani SierraCommercial DirectorPartner

[email protected]

Mehmet CerebSales AssociateRelocation Specialist

[email protected]

Oren KatzMarketing Coordinator

[email protected]

The Zichelle Team delivers:

• Bi-coastal coverage of strategic opportunities in South Florida and Southern California, with local level presence Miami and Los Angeles.

• Transactional depth spanning commercial and residential markets, as well as their respective sub-sectors.

• Curated personal network of international buyers and sellers that excel at closing deals.

Many people say the sky’s the limit, but at The Zichelle Team, the motto is

different- raise the bar and break the sky.


YOUR TOP RESOURCE FOR SOUTH FLORIDA REAL ESTATE.

*Data by BrokerMetrics, past 12 months.

53Percent

Growth in totalsales volume

from 2013 to 2014

Number One

Leader in local luxury condo sales

(over $500k)*

$3 Billion

Amount in new, luxury developments represented by ONE

$1.3 Million

Average listing price in millions

(highest in South Florida)*

©MMXV ONE Sotheby’s International Realty, licensed real estate broker. Sotheby’s International Realty® is a licensed trademark to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Office is Independently Owned and Operated. The information contained herein is deemed accurate but not guaranteed. Prices are subject to change without notice.

zichelle team | miami real estate showcase & market trends

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