St. Regis Bal Harbour

20
Feb

Qatar firm buys St. Regis Bal Harbour for $213 million

What You Must Know about the St. Regis Resort  

It cost $1 billion to build the St. Regis Bal Harbour. Starwood Resorts and Hotels is responsible for this highly luxurious building that took about six years to complete. It finally had its grand opening last year in January. On January 22 of this year, executives with Starwood announced that the property had been sold to a firm that is based in Qatar. The purchase price was $213 million.

 

The chairman of Al Rayyan Tourism Investment Company Sheikh Faisal bin Qassim al Thani gave a statement to the press last month. In the statement, he expressed the fact that he is extremely pleased with this acquisition. The building will be added to an ever-increasing portfolio of similar properties. The buyer’s portfolio largely consists of assets that can be considered to be “world-class” that are located in the most desirable portions of the planet. The manager of the St. Regis Condo Hotel Bal Harbour will continue to be Starwood Resorts and Hotels, and the name will remain the same.

 

Starwood’s president of global development Simon Turner stated that the sale was a part of the company’s larger strategy. The company has plans to continue to sell the right properties to the right people so that they can please their shareholders. He also stressed the fact that the St. Regis in Bal Harbour  is a “trophy asset.”

 

The St. Regis Condo Resort Bal Harbour is a high-rise building that contains 27 floors and is located at 9703 Collins Avenue. The structure has 250 permanent condominium residences, but it also has 210 hotel rooms. The smallest condominium unit has two bedrooms, and the largest unit has five bedrooms. The starting price is $2 million, and the most expensive homes have a price tag of around $10 million. However, most of the homes have already been sold.

 

The resort is in a great location right across the street from the Bal Harbour Shops, and hotel rooms can cost $450 a night during the summer. During the popular season, rates rise to as high as $1,000 a night. When one considers the fact that a St. Regis room contains 650 square feet of space, marble accents, a balcony and optional butler service, you know that it is well worth the price.

 

The hotel has a presidential suite, and it has 2,800 square feet of space and contains a private elevator, a dining room and two bedrooms. In September, this gem may cost $5,000 for one night, but the price can easily go up to $30,000 a night in other months.

 

People do not need to be concerned about star chef Jean-Georges Vongerichten of the J&G Grill. His restaurant is not a part of the transaction.

 

Al Rayyan Tourism Investment Company is a subsidiary of Al Faisal Holding Company, and it is one of the largest private firms in Qatar. Al Rayyan’s other luxury hotels can be found in North America, Africa, the Middle East and Europe. 

8
Feb

Increase Your Status with a Bal Harbour Condo

St Regis Bal Harbour

The opulence that hits people as they enter the condominium-hotels in southern Florida is far above what they will find in any other place on the planet. That’s because these condominium-hotels are run by professionals who know exactly how to create the most indulgent experiences. One of these companies is the Starwood Hotels and Resorts Worldwide, and they expanded their reach across the globe to include the Miami area in 2012. They have enjoyed their stay in this location so much that they plan to have a presence here into the distant future.

The Starwood constructed condominium buildings in highly esteemed areas of New York City, Poznan and Vienna, and they do so with a brilliance that shines no matter where this company leaves it mark. Bal Harbour is fortunate to be the latest location for a new dazzling Starwood hotel.

Starwood recently introduced the St Regis Bal Harbour condo-hotel to Miami, and it is a building that people can expect to be highly privileged. The St. Regis Bal Harbour condo received a proper welcome from Forbes Magazine when it reported that this building’s opening was more eagerly awaited than any other. Also in 2012, AAA gave this building the highly coveted Five-Diamond award. What people have to look forward to are 243 condominium units that have balconies made of glass and windows that allow for the least obstructed views of the Atlantic Ocean.

The condo-hotel is not the only place to receive the world-class amenities that Starwood offers its guests. People can become permanent residents of the St. Regis and enjoy these majestic indulgences all year round. Those who purchase a home in the St. Regis Bal Harbour Residences will have the Remede Spa to delight their senses every day if they like. They will, most likely, want to partake in every one of the many treatments that the spa has to offer. If you don’t want to take the time to furnish a new home in this building, you don’t have to wait. Some units are already furnished and ready for you to move in. The more design-oriented among us can choose between 15 floor plans for exactly the look and feel that they desire.

Benchmark Hospitality International also had the good judgment to build the One Bal Harbour Residences in the fashionable area of Bal Harbour. These homes are offering those looking for a new real estate investment a wonderful option for aristocratic condominium units. This building has a Guerlain Spa as well as a five-star rated restaurant that gives diners a spine-tingling view of the beach and ocean. This building has the right services and the appropriate amenities that will afford you with the lifestyle that you were born to live.

The place to find the most hedonistic condominium-hotels is in southern Florida. The fact that the most prestigious builders Starwood Hotels and Resorts Worldwide and Benchmark Hospitality International saw fit to add properties to this area means that you will increase your standing immensely just by being here.

23
Jan

Miami-Dade Readies Itself for another Housing Boom

St. Regis Residences Bal Harbour

 

The new St. Regis Bal Harbour Resort & Residences has let every developer know that now is the time to start constructing new condominium buildings. Sales surpassed $750 million in the first year, and this is making Bal Harbour the place to construct a new building in Northeast Miami-Dade.

In November of 2011, people began to purchase condominium homes at the St. Regis Bal Harbour at a price of $1,450 for each square foot. Other developers saw a chance to build 10 more buildings in this area. This means that a total of at least 800 new condominium homes will be available for purchase near the prestigious intersection of 96th Street and Collins Avenue. This popular address encompasses Bal Harbour, the Bay Harbor Islands and Surfside.

The St. Regis is Bal Harbour real estate where people have purchased over 200 condominium homes in an area that contains about 500 available units, and developers are very encouraged by this. They are hoping to realize a similar type of success with their new buildings and to share in the $1.35 to $13.5 million in sales that the area has engendered.

Many developers have noticed the positive trend, and several are taking advantage of the possibilities, including developers in Argentina and Turkey. Many of these firms are in the process of acquiring their permits to have the opportunity to build the Harbor Park construction of 20 condominium homes that will be located on the Intercoastal Waterway and another 260 condominium unit project that is to be built near the Bal Harbour Beach Club.

Chadeau Beach Sunny IslesNational and international firms are working on obtaining the government approval they need for their projects in the areas of Bal Harbour, the Bay Harbor Islands and Surfside. Several of these construction projects will be ready for pre-sale this year. Construction is set to begin next year, and the developers anticipate completing their buildings in the year 2015 if not before.

Miami-Dade, Palm Beach and Broward Counties announced last December the fact that they will be the recipients of new condominium buildings. This adds up to a total of 14,200 new condominium homes on Florida’s coastal region in almost 100 new buildings. One construction has been completed and 14 more towers are currently being built. Of those, the most notable is the Chateau Beach, a 35-floor construction in Sunny Isles Beach. Another is the Regallia Condos.

Regallia Sunny Isles BeachCurrently, it is difficult for developers to obtain financing for construction projects in this part of the country. As a result, a majority of the condominium units are being sold to investors outside of the United States. As the developers complete each particular stage in the development process, their investors make a deposit toward their purchase. With this system in place, the developers obtain about 80 percent of the condominiums’ purchase prices before construction is completed. Developers may use a large portion of these deposits to build their towers.

The latest trend in placing 80 percent of the purchase price before the building has been completed is much different from what was required during the last housing boom. At that time, condominium buyers only need to offer 20 percent as a deposit, and the area experienced a housing bust.

The new plan of requiring a series of deposits will limit the potential for another housing bust, but it also appears to be helping sales of pre-existing condominium homes. Last year, people purchased nearly 270 pre-existing condominium homes at a price of $260 per square foot. This is an increase over the same time period for 2011.

It appears that the condominium boom is on its way. The question is whether or not people will be interested in a building that does not contain the name St. Regis.

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