The Miami Marriage of Real Estate and Art

by Isaac Benmergui, Esq on December 5, 2012

High-end art buyers will buy high-end real estate – at least that’s the thinking of real estate promoters in the Miami area. During a recent art exhibit on Miami Beach, Olga Nuñez, contract manager with Palau Sunset Harbour, showed off floor plans for the luxury condos to art patrons of the exhibit.

Visitors to 50 galleries have an opportunity to learn about the new condominium planned for the Sunset Harbour neighborhood  from renderings, sales brochures and floor plans on display alongside contemporary art. With the growing health of the Miami real estate, condominium developers and real estate agents are capitalizing on Art Basel and its satellite events to garner interest of affluent consumers from around the world.

Shrinking Miami property inventory bring out cash buyers

The shrinking inventory of available properties has made for hungry investors, eager to find the newest, and most luxurious new properties. Cash-rich international buyers are scooping up new properties at prices that are still below pre-bust levels. Palau Sunset Harbour is just one of the many new luxury condominium projects planned for South Florida, and developers and real estate agents know that Miami lures wealthy visitors with its climate and luxurious amenities.

“It’s one of those opportunities happening in Miami a couple times a year where you have all those high-end people in one place,’’ says Ron Shuffield, president of Esslinger-Wooten-Maxwell, Christie’s Miami affiliate. “You have some of the wealthiest people in the world descending on Miami, collectors of contemporary art. Most of them have multiple homes.’’

“We definitely think there is a tie-in between great real estate and great art and design,” said Ophir Sternberg, managing partner of Lionheart Capital. “That’s what we’re trying to marry.”

Getting Legal Help

The law offices of Isaac Benmergui can help you with all your legal real estate needs from purchase to closing. Call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

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