South Pointe Park in South Beach
May 18, 2009 by Lucas Lechuga
Recently, the City of Miami Beach renovated 17 acres on the southern most end of South Beach, in a neighborhood known as SoFi, or South of Fifth. Hargreaves Associates, of New York City, was hired to design and update this bayfront park at a cost of around $22 million.
On a recent visit to the park, visitors participated in a variety of activities from walking their dogs, skateboarding, biking and rollerblading to playing Frisbee and jogging. Kids also played in the interactive water features scattered throughout the park.
At the southern tip, an elevated walkway guides you to a deck with sun chairs, providing an ideal spot to watch cruise ships passing through Government Cut, as well as to enjoy the views of Fisher Island, the Miami skyline and the Port of Miami. Catching some rays at the same time is an added bonus.
The bayfront walk extends from 5th Street (Icon South Beach) all the way to the tip of South Pointe Park, approximately one mile. It's gorgeous to walk along the bay on a wide boardwalk with a marina on one side and beautiful condos on the other. Additionally, the environmentally sensitive "turtle safe" lighting illuminates the Government Cut walkway while enjoying the scenic view at night.
A mix of uses, especially green space, is always a welcome addition to any community. The renovation of South Pointe Park adds value and livability to an already charming neighborhood.
Wow, really puts Pace Park to shame. The fact that no hobos were murdered here is also a plus! LOL! Looks like south beach wins again.
What a waste of lando though. That’s perfectly good condo land right there. Somebody call old man Tibor Hollo or Jorgie Perez. This is a travesty!
I’ve walked portions of the bayfront walk 2 years ago but now it’s nice to see this completed. All Miami waterfront should be this accessable.
I was toying with exploring South of 5th for a while, now I have another good reason to do just that……… Looks nice. Where did that AJ go, perhaps he got mugged, shoulda bought near this park instead!
The Bayside path that starts at South Pointe Park ends at the new Capri devlopment, which I toured recently. It’s got a lot of pizzazz, but sales seem to be very slow. Anyone got an opinion about Capri as a good or bad buy?
One of the best parks you will ever find, particularly late in the afternoon as the cruise ships pass by.
Another good thing about this park is that they close it down nightly at 12am I believe. Therefore, no homeless people will set up shop here.
BTW – who is the clown in the 4th picture doing push ups? lol
They’ve had a murder in this park. It’s just like every other park in America. Is the pier is still fenced off to prevent the hooligans from jumping off it? Did “MSG” claim the park yet?
Can someone check up on AJ?
He has been M.I.A. Lately. Wasn’t he rooming with strangers in miami the last time he checked in? Gesh, I sure hope he is not sleeping in some nut’s freezer.
I assume you mean MS-13…….lol.
I went out a few weekends ago to visit the park and they were charging $15 for parking unless you were a MB resident.
Pace park doesnt do that.
Wowser-found this park last week and it is beautifully laid out landscaped and overflows with first rate waterviews; on a par with the park at Coal Harbor Vancouver BC that many urban planners call one of the finest .
If you want to talk about finely appointed then lookno further than jade beach. In regards to aj, I belive he is on a Mumbai gameshow where he can win 20 million rupees and the love of his dear Latika. That AJ is a clever one. He won’t be a slumdog for long!
I call dibs on Latika!
I BEG YOUR PARDON…………thats AJ doing push ups in the 4th picture.I believe thats LARA his new found friend watching over him .
AJ must be pretty upset that he can’t take up residency in SOUTH BEACH PARK.It’s a long walk back home to PACE PARK………leave the poor guy alone…he dosen’t want to admit that RENTER TOM was right all along.
Seriously though, comparing South Pointe Park to Pace Park is ridiculous. Obviously you guys wanna jump on the bandwaggon and try to make fun of AJ, but compare apples to apples.
What a waste of water front property, imagine how many more Condo’s could have been built!
“It’s gorgeous to walk along the bay on a wide boardwalk with a marina on one side and beautiful condos on the other.”
Beautiful Condos! Ha! You can tell a REALTOR wrote this. Hey Lucas, actually it would be much more beautiful if zoning only allowed for low-rise structures. How the hell is a 45-story monstrosity looming over you (and taking your sunlight) “beautiful”?
Just like Jaws from the movies, I cannot be destoyed. I will haunt all of you to your graves and beyond….. 1800 Club forever! Pace Park out!
Yawn, been there, done that (many times over). I told a few weeks ago about how beautiful this park is and exhorted everyone to visit. Never seen anything as spectacular. Something that comes close to this is Hudson River Park especially at the Battery Park City in Summer. But SP park trumps everything as you can enjoy it year long.
Makes me think, not M.I.A., Back in NYC. No interesting or intelligent chatter for the past few days on this blog that would have prompted me to chime in.
I am waiting for Lucas to post the Grand Opening of Paramount Bay. That could shake up things a little bit (or maybe a lot). I think Paramount Bay will buck the trend. It is a spectacular project and it will definitely outperform Epic, Marquis and any other recently opened building all put together. It will be a cause celeb.
Richard JM,
Capri took a very, very, VERRRRRY long time to build after the foundation was laid. I’d be leery because it seems like worked stopped at multiple points in the build and would suspect corners were cut along the way.
Word is some of these beach condo projects may get bought out and turned into timeshares….seriously. Jade Ocean apparently barely got under glass and don’t have enough $$$ to finish…..Fortune, the developer, is apparently going or is BK.
“I think Paramount Bay will buck the trend. It is a spectacular project and it will definitely outperform Epic, Marquis and any other recently opened building all put together. It will be a cause celeb.”
Oh god you have got to be joking.. but seriously what are you smoking?
Thank you for taking the time to share this. It is greatly appreciated. You raise some very interesting points. Great photos by the way!
Prices in Paramount Bay are already increased by 18% since January. Wait, did I say increased? I meant to say that 90% of people walked away from their deposits.
But seriously, Paramount Bay is a spectacular investment if your idea of spectacular is your balls being crushed by a cinder block. I kid, I kid.
I heard Warren Buffet is investing in Miami condos (Note: Miami condos is code for Chinese auto companies)
homeless are ok, besides they live in starbucks – its the sobe cuban cops you have to be careful of
i hear they arrest innocent tourists because of minor traffic violations
Off topic but this is an interesting article on the Omni Mall development. It would be nice to see that project get done.
Omni Mall developer seeks $7M from Miami for $95M project
aj, check out my old hood, peck slip. front st/near seaport 10038
Homes/condos had gone from housing expenses to “investments” and now back to housing expenses…
http://www.nytimes.com/2009/05/20/business/20shop.html?_r=1&hpw
“Sales at Saks stores open at least a year, a measure of retail health known as same-store sales, declined 27.6 percent in first quarter, which ended May 2.”
– Yes, AJ, the wealthy are different. They are being hurt more in this recession than everyone else since most of it was phantom wealth…..
AJ, glad to hear you are not M.I.A.
I too thought of the comparison to battery park in Manhattan. I went to check out the park last month in SB but the lot was full and didn’t feel like looking for parking but i got to see a small part of it. I will be back in SB next month so I will try to take that walk from 5th to the park on the bayside. Looks like a good place to just chill out and slow down.
speaking of the rich check this out from the wall st journal today
http://online.wsj.com/article/SB124268209889631903.html
sak’s numbers are not good but bunch of retailers are doing some business
drew299 – “bunch of retailers are doing some business”
Listen to Davidowitz from yesterday….he’s a pretty darn good retail analyst with decades of experience….
http://podcast.mktw.net/audio/20090518/rnrdavidowitz051809/rnrdavidowitz051809.mp3
Not to get off subject but I figured this would get Aj back in the mix…As I believe I Am starting to hear the fat lady warming up her voice. As the first of what will surely be the next hammer to drop has just been purchased by the federal Government for about 10 million dollars.-lol
I just received information of a new website begun by one of the residents in Ten Museum park looking to suit the developer:Join me and other owners at 10 Museum Park in our quest to take legal action against the developer who sold us on a building that has fallen short on every promise.
“Our lifestyle as well as our investments have taken a very big turn for the worse. Together, we can make a difference. Sign up now as we get closer to change. Spread the word to your neighbors that we have organized.”
“The good news is that our support is growing daily. We’ve had an overwhelming response from many of our neighbors who are tired and want CHANGE!” check it out at: http://www.10MPactionnow.com
Not that this is a surprise as I have commented previously in regard to the less than satisfactory finishes, the cheap materials used, and the ammenities never realized as the dirty laundry list would take me all day to include here-In any case I can’t wait for this hammer to drop as I know of other situations that are in the same state just not as along as the TMP project-2yrs pretty pathetic…Goes to prove the saying that I tell my clients “let the buyer beware” and in the Miami Condo world you had better be very well aware!
Take a look at the following article:
Corus Bank ordered to submit capital plan http://southflorida.bizjournals.com/southflorida/stories/2009/05/18/daily25.html?page=1
There has been so much talk about foreclosures that people didn’t consider whole banks going into receivership and the FDIC selling the loans at a heavy discount. This is a clear example of what is happening in the market for bulk sales and discount notes.
Banks are not willing to lower their price expectations to sell these non performing notes and therefore get stuck in these situations.
“The bank has since filed a foreclosure lawsuit in Miami-Dade County Circuit Court against the developer of the 118-unit Onyx on the Bay condo, which has 41 unsold units. The original loan was for $44.1 million.
Other major Corus-financed projects in South Florida include:
Jade Ocean Condominiums in Sunny Isles Beach
Paramount Bay in Miami
The Mint at Riverfront in Miami
Trump International Hotel and Tower in Fort Lauderdale
Caribbean Miami Beach
Infinity at Brickell in Miami
The Ivy in Miami
AJ, so much for Paramount Bay bucking the trend… My guess is that you will not see more than 10% closings and someone will end up buying this note from the FDIC at a very cheap discount which will kill pricing in the area
Found this elsewhere:
First Qtr. Sales Miami Beach South Beach (south of fifth street)
Number of Sales $PSF 1st qtr. o9 $PSF 2008
Apogee – (one) $1209. $1354.
Continuum S. (one) $856. $1074.
Continuum N. (five) $875. $929.
Icon (three) $533. $724.
Murano (two) $1175. $829.
Murano Grande (four) $500. $638.
Portofino (two) $500. $676.
S. Point Tower (zero) $ N/A $619.
Yacht Club (two) $545. $548.
Condo Swindler,
My heart goes out to those who bought a product that they do not know how it would turn out and ended up with a bad product. Before I bought my unit, I have been researching for over 2 years on Locations, buildings, the City, Amenities etc. And when I did buy, I had to look, feel and touch to see what I was buying and last but not the least, how are the building financials and the HOA are. Granted, not everyone had such time and luxury and sheer coincidence and luck. But it is a bit too late now. I don’t know what TMP residents are hoping to achieve out of this. Sue the developer who is long gone? In any case what is promised on the brochure is not required to be delivered and the developer has a great leeway in that regard. The grounds and landscaping around TMP (and to an extent MB, 900 and Marquis) are a lot to be desired. That maybe because they do not have an inch of land to landscape. And BTW who in their right mind would buy in a building that only has valet parking?! I would laugh at their face if they tell me there is no self parking in a building. Even now how many of you will actually go to the garage and see the assigned parking space before you buy a flat? Not many I guess, but I do. So buyer beware. If you blindly buy something without doing your homework, there is very little anyone else can do to mitigate your misery.
Kraemer great stats keep em coming-as I am interested to see just how low they will go!!! Especially on High end units as Miami Beach is hurting as far as RAM numbers go for over 1mm $ properties…
AJ-I knew that my poost would rattle some feathers and get you back in the game as I have so much more info as an owner in several buildings downtown are concerned-I might even post some off the cuff pictures of what “the neighborhood” is really like to live in as you are beyond wisdom when it comes to the “promises promises” I have heard and even been a part of-as wasnt isnt this an old 80’s nightmare song…I can quote many other songs here but to say that I am torn between two lovers is an understatement as youll just have to wait for my book-The magic city-dont be a fool!!!! due out next winter…youll be amazed at what I have found out and what will be as pertainsd to what will be deemed the great Condo crash of 2006!!!
oh and why does your heart go out its all about business my fellow interested blogger nothing more nothing less if you feel bad your a fool, as again you seem to get it as far as diligence and so many more should get it-
Post #37
The Ace said that it would go as low as $125 and I’ve seen nothing in the economy, job market, real estate market especially Miami or the Obama Nation no make me think otherwise.
And Where is “ACE” now????He’s NO LONGER around to back up his predictions.
Any thoughts on 1060 Brickell?
Heart goes out because these are not flippers. Flippers either took a walk or don’t care about these issues that much. Some end users bought these flats preconstruction to live in them and their gripes are justified. Some got lucky and bought into a good building either by due diligence or sheer coincidence. Others didn’t.
The best thing going for all the potential buyers here is that this blog lays thread bare all the pitfalls of buying in each of the 50 odd downtown buildings. Even after this if someone makes the wrong decision, then it is completely their own fault.
THE SMART MONEY IS STILL RENTING.And will continue to until the market bottoms out (maybe 4-5 years) any comments on this?
This site sure has a lot of interesting contributers.
Renter Tom enjoys being a renter as people went from seeing housing as an expense to an investment and back to an expense. Renter Tom no longer runs into people saying that you will make money by simply owning a condo…the silly “condo as an investment” talk is finally gone. Does that mean the bottom is near??? Nope, we gotta ways to go with condos as the risk of buying into a building that is not 100% rock solid financially with stable ownership is still very very large.
Renter Tom rarely sees even 15 units with lights on in the entire Trump Towers, that’s all three towers folks. Five lights on in Jade Beach is notable. Oh the pain is yet to come for these projects……
Oh, and this can’t be good…
“Japan’s GDP Declines at 15.2% Annual Rate”
– Iceland is out, Ireland is in serious pain with enormous govt deficits, China has a hard landing, Japan is nearing depression levels, France is well….it has stable socialism despite being anemic for decades, and the list goes on…..
500,000-700,000 jobs lost each month in the US…..the real pain is here and continues as predicted. Incomes stagnant or “zero” if lost job, enthusiasm for real estate is dead, and the wealthy are scared. Means there aren’t a lot of $1M condo buyers out there…..
What do you guys think about Continuum North, which is right next to South Pointe Park discussed in this thread? Prices seem to be strong compared to a lot of other buildings, but, in a building with 203 units, MLS shows something like 50 units for sale and another 40-50 units for rent (some are listed for sale *and* for rent, so the exact number of units on the market right now is unclear). I’m guessing even more units might be available but aren’t listed; seems like very few of the high-floor (and presumably highest-price) units seem to be on the market right now.
I have no doubt Miami Beach condo prices will continue to fall, but I’m curious what people here have to say about the building — price predictions for next 6-12 months, feedback about the building itself (pros and cons), etc.
This is a great site. Thanks very much.
Continuum North still has about 42 units of the 203 units owned by the developer according the miami-dade property records website.
Most of the floorplans are oddly designed. Like the small 3 bedroom design with 4 different small balconies (instead of one big wrap around like apogee or cont 1). Or the one bedroom plus den plan, but the den is right near the door like a big closet with no windows.
The amenities are top notch and can’t be beat by any other building. Nor can the location. Association Dues are very high, but at least this building offers a lot for your money. The health club is like a private gym one would pay for and you also have beach service with chairs/towels all included.
Correct me if I’m wrong, but the job loss numbers that people keep posting are pretty misleading IMO. I think most of these losses are in sectors where the people wouldn’t be in the market for luxury condos…..blue collar, manufacturing jobs, etc. I don’t think the losses have been nearly as pervasive in the professional sector. Not saying the white collar crowd hasn’t been hit, quite to the contrary, but I think these massive job loss numbers don’t paint an accurate picture of the pool of poeple that would be in the market to buy a fancy condo.