Marina Blue Penthouse to be Featured in Season 4 of "Burn Notice"
March 3, 2010 by Lucas Lechuga
Earlier this afternoon, an episode for next season's "Burn Notice" was filmed in Penthouse 5708 at Marina Blue. The 4 bedroom/4 bathroom penthouse has 4,198 square feet of interior across two levels, 20-foot ceilings with floor-to-ceiling glass windows and panoramic views of Biscayne Bay, the Atlantic Ocean and the Miami Beach skyline. It offers what many would call the most spectacular view in all of Miami.
Penthouse 5708 has been on the market for 71 days at an asking price of $3.3M, or $786 per square foot.
How much if it is for sale. I am sooo glad that these condos are branching off from just porn! LOL Just kidding people.
They got to raise money to over the shortfall in HOA dues somehow but if you think this grasp at straws will prop the price up your in LA LA land the same as show.
The real Burn Notice is the fact that this Condo and those like it will be selling at $125 my early 2011.
The Ace; fair, balanced and unafraid for over six years.
SFBJ — A prominent Miami businessman and his wife have been charged with running a $135 million Ponzi scheme that targeted the Cuban-American community.
Gaston E. Cantens and Teresita Cantens, founders and co-owners of Royal West Properties, a real estate development company, are the target of a lawsuit the Securities and Exchange Commission filed in Miami federal court.
It is alleged they lured investors by promising that investments in their real estate business were safe and would provide annual returns of between 9 percent and 16 percent.
When the real estate market tanked and owners began to default on their mortgages, Royal West’s financial condition crumbled, and the Cantenses began to use new investor money to repay earlier investors.
Gaston Cantens served on the advisory board at Belen Jesuit Preparatory School and brought many friends and associates in as investors in his company. The SEC lawsuit alleges that the Cantenses lured in investors by saying that Jesuit priests and other well-known leaders in the Cuban-American community had invested with Royal West.
==
Hey, but owneratinfinity said that you should trust people more. So just do it, ok?
Enzo said
“Hey, but owneratinfinity said that you should trust people more. So just do it, ok?”
Enzo do you think owneratinfinity is Cuban? Is that why we should not just him?
Sorry – mispelled meant to say “trust” instead of “just”
Enzo said
“Hey, but owneratinfinity said that you should trust people more. So just do it, ok?”
Enzo do you think owneratinfinity is Cuban? Is that why we should not trust him?
Just Sayinf said, ““Hey, but owneratinfinity said that you should trust people more. So just do it, ok?””
Enzo do you think owneratinfinity is Cuban? Is that why we should not just him?”
Amazing the stuff you read here. You should go back to school, just saying. You aren’t too bright….just saying.
Enzo so you believe we can trust Cubans or you believe owneratinfinty is not Cuban?
That penthouse is stunning.
just saying,
You’re barking on the wrong tree; I won’t play your sordid game…go back to school.
owneratinfinity is not Cuban, but I heard he did organize the original Black Beach Week.
“The real Burn Notice is the fact that this Condo and those like it will be selling at $125 my early 2011.” — The Ace
Ha ha. Well done, sir.
Enzo,
I believe you were trying to say “You’re barking up the wrong tree.” instead of
“You’re barking on the wrong tree.” You will learn that once you get your GED.
just saying said,
blah blah blah blah…
Enzo said
blah blah blah blah…
Translation
“My dream is to be able to afford a condo at Infinity. My ultimate fantasy is that my next door neighbor would be “owneratinfinity”.”
“CONFUCIOUS SAY”……he who buy Condo now……better be able to swim UNDER WATER!!!!
Beautiful penthouse, BTW.
One of the features that I like about Burn Notice is it identifies so many of the financially shaky/sketchy condos in the city. Last week’s episode – – maybe it was the week before – – featured some footage shot at Epic. I recall prior episodes were shot at that cancer cluster of condos across from the Big Fish.
Now it is the Marina Blue penthouse – – the “Mount Olympus” of Miami (quote adapted from Hollywood Homicide (2003)).
It is a cross between a death march and a perp walk.
scriv
“The real Burn Notice is the fact that this Condo and those like it will be selling at $125 my early 2011.” — The Ace
“Ha ha. Well done, sir.” – Joe
This just shows what a complete moron Ace is and people like Joe who instigate him.
Lucas, wow you posts are really becoming lame. I guess you’re now trying to be the downtown version of Kevin Tomlinson. Post about weather, Super Bowl rentals, iphone application, condos featured on Burn Notice. No charts, indexes, MLS sales numbers or trends. When was the last time you posted anything actually useful to a potential buyer?
OUCH !
I have to agree with Gixxer 1000.
I don’t post often but I do observe… and the postings on this website have become a bitch fest for a bunch of bitter bettys with too much time on their hands!
Skeeta,
HOW DARE YOU!
hear hear!
bitchy bunch of bitter bettys. How sweet is that!
“You know spies, a bunch of bitchy little girls”
– Burn Notice intro, how appropriate.
Gixxer 1000 on Feb. 23, 2010 at 3:04 PM:
“As far as people watching the market day to day I agree. I would actually prefer a post every other week with one being a monthly update and status of the market. Maybe a couple of interesting threads mixed in for a total of about 4 informative post a month.”
Gixxer 1000 earlier today:
“Lucas, wow you posts are really becoming lame. …”
——
Inconsistent much?
We’re in at least the 6th or 7th year of real estate being a hot topic. By almost every account imaginable, r.e. is no longer an “investment,” at least not in the short term (unlike the boom-era mentality). Everyone knows how to find recent sales info. and the property tax records and the MLS by now, so what the hell is it that you’re looking for from Lucas right now? Has it crossed your mind that maybe there isn’t much to post about since, unlike the absurdly rosy r.e. scenarios you try to advance here, the Miami r.e. market will be stagnant for a long time to come? If you have so much free time and can do a better job, start your own damn blog.
I do not know why Lucas allows Gixxer 1000 to post on his Blog for his only response to intelligent posts are insults. But it one this to insult the average poster but quite another to insult the most insightful poster on the Blog namely the Ace and then to trump that by insulting the Host of the Blog is really going to far.
Joe,
How are these comments not consistent??? 2 infomrative post a month with one being a market update and another 2 random post. Instead lucas post all random post for the last few months with the exception of the Fannie Mae posts.
“r.e. is no longer an “investment,””
Who cares? Lucas is a Realtor. I would assume this blog is to attract potential clients. Who give a shit if they buy the place as an investment or a place to live? Considering sales are up I would think Lucas would want as much as that action as possible regardless as if its an investment or not. While the blog is titled MCI, I didn’t think Lucas only sold condos as investments.
“Everyone knows how to find recent sales info. and the property tax records and the MLS by now, so what the hell is it that you’re looking for from Lucas right now?”
How many months supply of condos do we have of condos under $250k or between $250k and $500k? Lucas should know. Why not let interested buyers know. I’d think that information would prove more valuable than knowing that burn notices was filled at Marina Blue. Not every person on this blog has been following for 3 years, Ahemm…
“Has it crossed your mind that maybe there isn’t much to post about since, unlike the absurdly rosy r.e. scenarios you try to advance here, the Miami r.e. market will be stagnant for a long time to come?”
What rosy scenarios am I advancing. I think prices for a lot of place have bottomed but wont see much appreciation in the next year or so. So if you looking to buy to live then right now with the tax credit it might be a good choice. How is that rosy simply because I’m not forecasting a 40% drop to $125. I think folks like DJ and Owner@infinity seem pretty happy. And considering over 900 condos a month are being sold I’d say some other people agree.
CondoVulture,
I hope you really are the Ace because if you’re not, I’ve never seen someone ride another persons jock as much as you.
“I do not know why Lucas allows Gixxer 1000 to post on his Blog for his only response to intelligent posts are insults. But it one this to insult the average poster but quite another to insult the most insightful poster on the Blog namely the Ace and then to trump that by insulting the Host of the Blog is really going to far.”
If I was a Realtor I’d take someone constantly coming to my blog for years pissing all over it with ridiculous comments about how high end condos are going to sell for $125 sq ft and all my clients who think otherwise are foolish as more of an insult than a guy who criticizes a lame post about Burn Noticed being filmed in Marina Blue.
Gixxer 1000 — Good God, man, fisking every word of people’s comments is so lame. A general rebuttal would suffice.
As for the “months of condos” issue you keep harping on, I doubt the figures have changed all that much since *last month,* when we had an extended debate on the topic.
As a favor to you, here’s the situation when it comes to Miami condos: There are still huge, brand-new buildings downtown that are 50 to 75% empty and/or investor- or developer-owned. There are still brand-new condos in Miami Beach and SoFi that are close to 50% investor- and/or developer-owned. Aside from the massive number of condos for sale in the MLS, most analysts suggest there’s at least a year of shadow inventory being held by investors as empty units and/or as rentals, with some estimating the shadow inventory to be much higher than that. Foreclosures and short sales remain a huge, huge issue in the market and shall remain so for at least the next 1-2 years givent the slow pace of such transactions.
Bottom line, there wasn’t a big rush on condos last week, there isn’t a big rush on condos underway this week, and I’m going to go out on a limb and predict there won’t be a big rush on condos next week.
You’re welcome.
Here are some quotes from a post that Lucas made 7 months ago:
“As many of you read earlier today, the Case-Shiller price index rose on a month-to-month basis for the first time in 3 years. 13 of the 20 cities in the index showed month-over-month price gains in May when compared with April 2009. However, Miami was not one of the 13 cities to show an improvement in prices. Home prices in Miami saw a decrease of .8 percent during that period.”
“There may not have been an increase in home prices in Miami but the figures below show a major improvement in the number of closed condo sales in the previous six months when compared to the closed condo sales in the six months prior to January 2009. For example, there were 3,551 closed condo sales in the six months leading up to January 2009 compared to the 5,007 closed condo sales that occurred within the past six months. That’s an increase of 41 percent. The number of closed condo sales in Miami improved approximately 39 percent while closed condo sales in Miami Beach increased about 20 percent. As a result, the condo supply numbers for each showed considerable improvements as well.”
“This has been a very atypical year for real estate sales in South Florida. In most years, the vast majority of closed condo sales occur in the Winter months when snowbirds flock to Florida to shop for a vacation home to escape the dreaded cold. However, this past Winter season was unusually slow due to a number of reasons such as the paralyzing fear in the economy and a lack of financing. After the first 3 months of the year, I personally felt that 2009 was shaping up to be my worst year in real estate. However, at the beginning of April, business began to show life again. In fact, activity has drastically improved to the point where 2009 could end up being one of my best years. I personally feel that the Miami condo market is within 2-3 months of reaching the bottom. That’s in no way saying that prices will begin to increase soon after. The overall market needs to move sideways for at least the next 12-24 months before we see any significant increase in sales prices.”
I’d be more willing to call a guy who’s presenting his analysis of the market this way over a guy posting fluff about Miami TV shows. Why not update us on Miami Social as well. And to be clear I’m just saying that post like that would be great IN BETWEEN more informative ones, not instead of them.
I don’t think I’ve ever seen a post about the tax credits, the HAMP program or the upcoming HAFA program. And this from a guy with a degree in finance and who worked at the options exchange. I mean maybe its me and I haven’t gotten used to the “unprofessional” atmosphere of Miami. I mean seriously, one look at Kevin Tomlinsons blog and I think to myself what educated professional would actually hire a guy with that lame shirt and goofy smile while gossiping about TV shows to represent them in a transaction this serious. He seems to represent everything that was bad during the boom. He looks like he’d be better off on one that bravo show where 20 year old kids sell million dollar houses by renting swans to swim in the pools during the open houses. While Lucas’s Blog on the other hand showed a lot more professionalism.
So I understand the shift to rentals and occasional fluff posts I just felt substantive post were lacking and stated my opinion. He’s free to delete my post if he wishes.
Joe,
That’s pretty ironic that you tell me how lame parsing every word of peoples comments is lame when that’s exactly what you did to me in post #25 that I was responding too.
Who cares if there is not a big rush to buy condos right now? Again over 900 condos are selling each month. Obviously people are continue to buy them. Why not use his blog to attract actual current buyers instead of people who think the market sucks and are going to wait a few years. I guess by your judgment he should just close the blog and reopen it up when the market gets hot again. Oh wait, then you’ll have no place to go to complain about blacks destroying south beach and a host of other social issues that have nothing to do with Miami condos.
Wow, Burn Notice will show a penthouse with a bay view. The eurotrash and the Eastern European escorts must be packing already for their bar tending jobs or old geezer-provider hunting in Miami. When you ask them what they so: “I’m a model”…riiiight.
Gixxer said, “Lucas, wow you posts are really becoming lame. Post about weather, Super Bowl rentals, iphone application, condos featured on Burn Notice.”
I’ve told you already about the CSI and Miami Vice effect, haven’t I? Are we becoming buddies already?
Enzo,
I don’t see anything wrong with those posts, just the lack of more “meaty” post in between them.
You’re a little too much of a buzz kill for us to be buddies. I’d say were more like acquaintances that smile at each other even though they don’t really like each other.
Gixxer 1000 — There’s a big difference between me quoting *one* of your posts and your habit of doing so, line by line, *every time* someone disagrees with you.
Beyond that, if you’re so well-versed in the Miami r.e. scene, why don’t you post your own updates, either here or on your own blog? The idea that you’re only complaining out of a selfless interest in Lucas’ business is beyond strange.
Gixxer said, “Why not update us on Miami Social as well.”
Hey hey, now you’re crossing the line. I love Miami Social. Don’t even think about bashing Housewives of OC, either. That’s real America baby; that’s why you get the Prez and Congress you deserve. On that note, prepare the pocket for a huge healthcare tax on your incomes. See, Dems can’t make money with housing anymore (have you seen Fannie lately?), so here comes healthcare cash cow, then cap-and-trade to rob the slaves clean. Enjoy your “change”, “liberal-pop culture” slaves.
Joe said,”Beyond that, if you’re so well-versed in the Miami r.e. scene, why don’t you post your own updates, either here or on your own blog? ”
Right on, Joe.
Joe,
Often times in a forum like this you rebuttal can get misconstrued at to what you’re saying or responding to. My copy and past of someones argument is simply for clarification at to what I’m responding to. Similar to how Owner@infitiy does and then comment with the arrow.
I don’t care to post updates or start my own blog because it’s not that serious. I was simply stating my opinion. I will probably do so for the next couple of months until I decide what I’m going to do. Then I’ll either buy something or move on and maybe comeback later if I purchase in the future.
People criticize things. Welcome to America. How many people watch football and criticize the coach when the honestly couldn’t do half as good. But if it’s right it doesn’t make the criticism any less true. You ever seen that dominoes commercial where they completely trash the pizza? They took criticism and made something from it.
But you’re right, I’m sorry for criticizing Lucas’s blog because I know how much it means to you. It was selfish of me. I know I only use to blog to get some insight on the Miami RE market and to pass the time until I go back to school. But I should have been more considerate of people like you who have been here for years and call this place home. You have been here for years without real friends hoping that one day the Ace’s prophecy will come true and high end condos will sell for $125 sq ft allowing you to actually move out mothers basement, buy a condo and make real friends. Who am I to stand in front of your dream. Dream Joe….dream!!!
Anyone up for happy hour at Level 25 or Bankers Club today? Not so fast, Gixxer.
I’m sure Gixx will have plenty of time to brainstorm new post ideas for Lucas, once he is spending half his day stuck in traffic getting out of Aventura.
Gixxer 1000 — I’ve been on this site for barely a year. I haven’t lived at home in almost 20 years. I don’t live in Miami right now, and I have no expectation of buying a place in SoFi for $125/sf when I move back later this year.
As I’ve said before, if not for the fact I’m not in the U.S. right now, I’d be spending about 95% less time here. Further, after I do buy a condo in Miami, I’ll probably swear off this site completely.
More than anything, aside from the entertainment value this place has provided lately, I think the site has become a victim of its own success (and a victim of general boredom with the Miami r.e. scene).
People like you (Gixxer) who keep begging for “more posts” and “more info.” are begging for action that no longer exists. I don’t know why this is so hard to understand. (This is why we laugh at The Ace. For all I know, he could be a complete troll — but he’s a damn funny one.)
From the South the Florida Business Journal, Thursday, March 4, excerpt of an article:
– RPC is putting the finishing touches on its Paramount Bay condominium project in Miami. –
“I’ve been on this site for barely a year. I haven’t lived at home in almost 20 years. I don’t live in Miami right now, and I have no expectation of buying a place in SoFi for $125/sf when I move back later this year.”
I don’t know where you live and don’t care. I was just joking because you seem to always instigate more stupid Ace post.
“As I’ve said before, if not for the fact I’m not in the U.S. right now, I’d be spending about 95% less time here. Further, after I do buy a condo in Miami, I’ll probably swear off this site completely.”
I pretty much in the same position. If it were for the current situation at my job I’d also spend 95% less time here. This probably explains why me and you constantly go round and round.
“People like you (Gixxer) who keep begging for “more posts” and “more info.” are begging for action that no longer exists. I don’t know why this is so hard to understand. (This is why we laugh at The Ace. For all I know, he could be a complete troll — but he’s a damn funny one.)”
I’m not begging for “more posts”. Less post with more substance would be much better. So I guess I am begging for more info, sue me. But I don’t see how I can be any more of a troll than you. While I admit to getting side tracked and going off topic with arguments even you admit that I want more info. How does wanting to take the discussion back on topic make me a troll. Talking about black beach week and south beach murders would seem more like a topic for a troll on this board than what I want. Even if worked at Burger King and didn’t have two nickels to rub together wanting to discuss actual supply, trends, case/shiller etc. wouldn’t make me at troll, unlike the Ace who clearly has no data to support is claims which are merely to get people arguing.
People like Renter Tom flip flop their opinions which currently fluctuate from not far from the bottom and another 30% drop by April. Some place are forecasting pricing is going to be flat and other are forecasting it will fall 30%. I’m just trying to sift through the BS and see where we are at. I haven’t been predicting any real short term gains which you seem to keep imply I am. But when you ask Renter Tom about it he goes off and starts talking about short sales yada yada yada but doesn’t want to get specific. So I guess a lot of people are here just for entertainment value and maybe some consoling from someone else who believes exactly what they believe. I’m sorry for wanting an actual intellectual discussion.
owneratinfinity, what do you think ?
Should I buy into the Paramount Bay ?
Joe, haven’t you heard there was another murder in SB this past weekend.
I heard that was about #6 so far this year and BBW isn’t even here yet! You still want to live there?
Gixxer 1000 — Black Beach Week came up after a few people started talking about the noticeable uptick in violent crime in SoBe, which seems like a relevant topic on a site devoted to buying (and living) in Miami.
Most of you are dicks. I said most, not all. You sit here day after day constantly writing to each other, about each other and it makes me sick. I am actually trying to buy a condo and Lucas has all the info I need to make the right decision based on location, price, market conditions.
And Dixxer (I know it’s misspelled) People looking to buy in Miami might be interested to see record weather patterns written about. Maybe he gets a lot of clients from up north where it’s freezing right now and the thought of more sunny days might get them to pull the trigger on a purchase.
Next,
Why wouldn’t he write about the iPhone app? After all the work I’m sure he put into designing it, he is not allowed to tell his readers about it? Why don’t you praise him for being the first agent in this shitty town that takes his job seriously enough to design a free application that clients and agents will use to search for condos? The app is brilliant and all you can do is bash him for telling the guests of the blog about it?
Why are some of you complaining about the lack of trends, stats, the nuts and bolts of the market? Probably because some of you are agents who are too stupid or lazy to compile your own data, run out of things to regurgitate to your clients to sound like you actually have a pulse on the market and check back here daily for another learnin’ from Lucas; without whom you’d have no idea what to do.
For the rest of you…I would like to know how many of you have actually purchased a condo or are looking to purchase a condo? In either case I could understand your need for this info. But if you don’t fall into either category, then what could you possibly need this information for? To sound informative around the watercooler at work tomorrow? And if you are looking to buy a condo, and you read this blog to gather all of the info you need to make a decision…then go and work with another agent instead of Lucas…you are an asshole and someone should punch you in the face.
Most of you need to get a life and let Lucas write what he wants to write about. And by the way, this “blog” is a marketing tool used to inform potential clients why they should/should not buy at a certain time or in a certain building. It is not here to entertain the masses or do another agents job.
I appreciate what Lucas does and will follow his insight as “real estate scripture” because he actually knows what he is talking about.
…ok losers, go ahead and respond since I know you have nothing better to do…
I don’t know what this post is supposed to mean..better read.. MB is so run down by tenants, with High HOA’s and delinquencies rate that no one wants this overpriced penthouse to live among the hobos! You don’t live in a view!! Therefore, let’s make money somehow!!
Gixxer 1000 – I don’t flip flop as you say. I have been consistent and probably a bit too bullish. You talk about the national market, then Miami, etc. These are different markets. Same with Miami condos (beach, downtown, Adventura, etc.) and SFH’s, under $250K and over $700K. There is a lot going on. I do think the generic $300K condo in Miami today will be worth a lot less in a year. Are the $700K condos in Miami moving, doesn’t look like it, so prices will need to come down there too…how much, not sure. The $2M SFH isn’t moving either. It is a very difficult market to buy in….lies, HOA problems (and lies), resident mix (and more lies), shadow invenotry, on and on and on. So far, not participating has been smart, being a renter in a PH unit for half price, even smarter…. I am trying to be buyer but still in 1st gear as there is no rush to the finish line.
Renter Tom — It’s funny how everyone denied there was a housing bubble in Miami by claiming that “real estate is local,” blah blah blah, but now that the bubble has burst, a lot of the same people are quoting national trends to “prove” that things are getting better in Miami.
I mean, which is it? Is r.e. local or national? Have the Realtards (r) and the shills decided yet?