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Factors that Lure Celebrities to Star Island in Miami Beach

Factors that Lure Celebrities to Star Island

Some areas are relatively attractive to celebrities due to their compatibility with the type of life they need to live. Some seek a calm ambiance, while others want a vibrant atmosphere. Despite the difference in preferences, you will find that the common thing is the need for privacy and personal space. When looking for such a property in Miami Beach, most celebrities are drawn to Star Island.

Scenic views are one of the many aspects that influence the phrases that can be used to describe the attractiveness of this beautiful island. It is endowed with an incredible green environment that creates breathtaking scenery when combined with the beautiful blue water surrounding it. The draw of this island is not only based on the aesthetic appeal, but it is also influenced by the beautiful features that make up the homes.

Factors that Lure Celebrities to Star Island

The Advantage of Few Properties

It is a well-known fact that when something is in low-supply, it becomes more popular and highly sought after. Star Island is no different. The whole island contains 34 properties, which are rarely in the market. This creates a frenzy every time there is a listing as more people wish to be a part of the enclosed island that has limited occupational spots.

Only One Access

Other than having few properties, the fact that the island is only accessible through one bridge increases its points for exclusivity. This factor also influences the security since it is easy to monitor those that come in and those leaving.

Adequate Space

The limitations set on the number of properties contribute significantly to the type of residency available. The homes on Star Island have enough space for different activities. They offer owners the luxury to perform various activities both indoors and outdoors. This vast working space increases the essence of the property for celebrities. It is perfect for those who seek to find a creative space to work on their art or an adequate way to pull-back from the hassle of their world.

Exemplary architecture

Homes in Star Island are designed and built within regulations using the highest standards on the market. All the homes portray the exquisite atmosphere of class and luxury, not to mention the stellar status of the island.

You also get to add-on to your house and custom-make it into what you want it to be from adding a deck, swimming pool, outdoor kitchen, and a private dock.

Beach Access

The island has 34 waterfronts which means every property has access to the beach. This makes the properties even more attractive as they offer freedom to enjoy the beautiful scenery without interference. This, in turn, is essential in maintaining a private life and avoiding run-ins with people, which is what celebrities essentially look for.

Also, those who have boats can dock them on their waterfronts which saves on expenditure and is highly-convenient whenever you want to use your boat.

Growing Property Value

The need to live in chic environments and splendid homes is a growing culture. Star Island continues to gain popularity from different wealthy groups. Owning property on the island is a smart investment move, since real estate in the area is assured to increase in value, and the island is growing in popularity.

When you purchase a house on the island, you have the option to enjoy the sanctity of your dream home forever or make the most of it until you decide to sell, at which point you should make a profit.

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Why Professional Athletes Find Miami Beach an Excellent Choice

Why Professional Athletes Find Miami Beach an Excellent Choice

For most people, looking for a home is informed by issues such as accessible amenities, price, safety, and location. While these factors come to play for professional athletes, there are many more things that affect the decision-making process. Miami is incredibly attractive as a real estate investment destination due to its nature and aesthetics.

Therefore, you will find that many celebrities, particularly professional athletes, are fascinated by the excellent options. Other than being one of the wealthiest cities in the world, the idea that it offers a sense of exclusive reach makes it an ideal choice. Some of the things that form the selling point of Miami include the vibrant nightlife, serene environment and essential high-end amenities such as docks.

Why Professional Athletes Find Miami Beach an Excellent Choice

Over time, there have been several professional athletes that have immersed themselves in absorbing the luxury that Miami Beach has to offer. Each athlete, including, Lebron James (who sold his property after he stopped playing for the Heat), Dwayne Wade (who just put his home in the market), and Floyd Mayweather, have embraced different aspects and created a home.

Tremendous Space

Homes in this area are endowed with enough space to provide you with the level of luxury you crave. There is a vast array of choices on what type of house you want and the choice is determined by several factors, such as the number of people to inhabit the space.

The diversity in structure and composition is evident in the celebrity’s homes. Lebron James’ home contained six bedrooms and eight and a half bathrooms, while Floyd Mayweather’s home has five bedrooms and bathrooms.

Customization

The essence of buying any dream home is to turn it into the perfect manifestation of your vision. The homes owned by these celebrities depict a specific sense of uniqueness which expresses who they are and the activities they enjoy.

Dwayne Wade invested incredibly in renovating and crafting his home to reflect his dream home. His house has a wine room, game room, home theater, swimming pool, tennis, and a basketball court. His home showcases his athletic side.

Floyd Mayweather’s home is unique in its build, especially since it is not considered to be in adherence to the Mediterranean and Pacific inspiration trend in the area. He has a beautiful floating staircase, vaulted interiors, and a magnificent chef’s kitchen.

Breathtaking Views

The glory of Miami Beach is embedded in its fantastic view and meticulous environment. There is an inclusion of several outdoor features to ensure that the real estate industry adequately showcases the beauty of the city. These may range from the high-end kitchen in Floyd Mayweather’s house or the infinity pool in the Lebron James house. Dwayne Wade’s home has a great pool that overlooks the beauty of the beach.

All in all, the added advantage of a deck and a dock in the homes give them a boost in the real estate market.

Great Market Growth

The increasing number of people that are interested in living in Miami Beach contribute to bringing up the property value. For instance, Dwayne Wade bought his home at $10.65M and put it in the market for $32.5M. However, it is essential to note that this massive increase in pricing is because he invested incredibly in renovations.

The desired level of luxury for the buyer determines how much they pay for the home. While Floyd Mayweather purchased his home for $7.7 million, Lebron’s was worth $13.4 million. The difference in pricing is also based on location and size.

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A-List Amenities Athletes Want in Their Luxury Homes

A-List Amenities Athletes Want in Their Luxury Homes

Homes of athletes are some of the most opulent and famous in the Miami Beach area. It’s hard to forget massive mansions like Shaquille O’Neal’s Star Island former home or Floyd “Money” Mayweather’s ultra-modern, golf-course adjacent home in the La Gorce neighborhood. However, more than just the elite athletes choose the warm climate of Miami Beach for their luxury homes. Between Miami athletes (like LeBron James, back in the days when he played for the Heat) and those who choose to spend their offseasons here, plenty of pro athletes called Miami home. What are the most desired amenities these athletes look for in Miami Beach luxury real estate? Some of the answers may surprise you.

A-List Amenities Athletes Want in Their Luxury Homes

No In-Home Athletic Facilities

Of course, the first thing you may think of a pro athlete needing in their luxury home is training facilities. However, this is often not the case. Especially in the middle of a season, the work-life balance of a professional athlete is very much skewed towards work. That means that many athletes feel a strong desire to return to their luxury home and leave work at the gym. There is one caveat, however; athletes do like their high-end homes to have easy access to the top training facilities, to remove a part of their commute.

Gourmet, Chef’s Kitchens

As people whose livelihood relies on their body, pro athletes tend to be incredibly conscious of what they put into their bodies. Even more than the average Joe, food is the fuel for success for an athlete, and that starts at home. Many athletes hire personal chefs or other professionals to help make sure their body stays in peak condition. Having a chef’s kitchen in your luxury home makes the job of preparing the right food much more comfortable.

In-Home Theaters

As part of the idea of a luxury home as a retreat from the day-to-day hard work of being a professional athlete, another common request in these high-end homes is an incredible in-home theater setup. Many athletic contracts prohibit players from doing dangerous physical activities that could harm their body, and many more athletes choose to refrain from these activities. That makes multimedia and a full movie theater atmosphere in the house a big plus for many pros. It gives them a deluxe and luxurious space in their homes to relax with their families.

Guarded Communities 

With the days of social media and TMZ, the effect of cameras and paparazzi being everywhere has had its impact on professional athletes of all levels. Especially for those with families, privacy is essential for athletes shopping the luxury real estate market in Miami Beach. And, for these athletes, a gated community itself doesn’t cut the mustard. Instead, athletes have been leaning towards residential communities with a 24-hour guarded gate. This can help keep the paparazzi out and keep family life private for these athletes.

While these are some of the common requests for the uncommonly luxurious homes selected by athletes, there is no set template. Some athletes have their own unusual requests. One example would be Olympic diver Greg Louganis’ home in Malibu, where he put in a personalized pool and diving platform, complete with the instantly recognizable logo of the Olympic rings. However, the trend in the luxury real estate market for pro athletes in Miami Beach, and around the country, is towards a high-end retreat from the rigors of athletic training and public life. The goal is for athletes to leave their professional life on the field and in the gym and let their hard work pay off in incredible, opulent homes, full of relaxing amenities.

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Ivan and Mike Join Compass Real Estate Sports & Entertainment Division

Ivan & Mike Join The ONE Sotheby's Sports & Entertainment Division

We recently joined the Compass Real Estate Sports & Entertainment Division because we are already working with an exclusive cadre of ultra-wealthy high net-worth individuals that often includes professional athletes and their support apparatus, entertainment industry professionals, and celebrities.

Ivan & Mike Join The ONE Sotheby's Sports & Entertainment Division

We are huge sports enthusiasts, and fledgling art collectors and have a busy schedule of world-class sporting, culture, and entertainment events where many of our clients and potential clients often circulate.

In the year ahead we are scheduled to attend the NFL Super Bowl, Art Basel Miami, Monaco Grand Prix, Antigua Sailing Week, NCAA Final Four in New York, Formula 1 Abu Dhabi, Universal Whisky Experience Las Vegas, Fort Lauderdale Boat Show, New York Fashion Week, and Kentucky Derby. We often frequent many other art and sporting events around South Florida, The Northeast, Aspen, and Los Angeles.

We cater to this niche of super-wealthy clientele by carefully curating a property acquiring experience of the highest caliber so our clients can enjoy the process without the usual stressors. We have our own all-star team of professionals to enhance the buying process and seamlessly work hand in hand with our clients’ personal teams of professionals that often include; attorneys, paralegals, accountants, security, talent agents, and travel agents.

We love traveling, sports and culture so joining this division is a perfect fit for us and we are excited to officially announce our involvement.

Ivan Chorney and Michael Martirena
Compass Real Estate Sports & Entertainment Division

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How to Become a Top Realtor in Miami? The Story of Ivan Chorney

Ivan-G.-Chorney-Real-Estate-Advisor

Top Realtor in Miami FloridaIvan Chorney’s interview with the story on how to become successful as a Top Realtor in Miami. He gives great insights into some of the big steps he took to get to the top. Properties like Architect Zaha Hadid’s home in the W South Beach, closed for 5.75 million and was featured in the LA Times and The Wall Street Journal. Additionally, the interview traces Ivan’s career and his way to the top.

Ivan tells us about how he and his partner Michael Martirena became the number one selling team at the W Hotel and Residences here in South Beach. A beautiful building, multi-million dollar property and the flagship of the W brand.

Becoming a Top Realtor in Miami:

If you’ve never been to any major city then you might not know the W. It’s a very nice upscale hotel and residence in New York, LA, Miami, Chicago, Tel Aviv, Tokyo and Dubai. The W is known worldwide and med and my partner became the number one selling team. If you’re a new realtor I’m sure you’d love to get listings like that and have that type of relationship.

First of all, you know I was with the brokerage Sotheby’s International Realty (Now Top Realtor in Miami with Compass Real Estate). Sotheby’s had an agreement with the developer of the W South Beach which allows us to be able to keep a team on-site in the lobby. So the first thing was that I was selected to be part of that team.

Recommended: Picking The Best Realtor in Miami

How did you become selected as a Top Realtor in Miami for the W?

By having a proven track record of success and in sales. I’ve been on new development projects for the first 10 years in my real estate career, and I think all but one I was the top-selling agent.

Thanks to that I get the opportunity to be on the W on-site team and then being there I came in and worked with my partner Mike Martirena.

We devised a plan to go after listings, one of which is intercepting people, we’re kind of in a choke-point and people have to pass us. It’s about being personable and being friendly and we’re always just talking to people, getting to know the staff at the W. If anybody is looking for real estate, they are immediately coming over to us.

The first couple of months it was a little bit harder to become a top realtor in Miami and to get that momentum going. But surely we started to get a couple of listings, got to know some of the owners a little bit better, and then we started to get some sales.

Now, years later we’re the number one sales team at the W Hotel, we’ve sold more units than anybody in the last three years and we have more listings than anybody at the W.

Tell us about the Zaha Hadid Listing

Zaha Hadid won The Pritzker prize for architecture twice and is the only woman to win that award. She owned a private residence at the W South Beach which she totally renovated in her fancy curvaceous style. A super cool unit, with a lot of lighting, and lots of curves, and aluminum, and reflections, it’s really neat.

She, unfortunately, passed away about a year and a half ago, and then her real estate trust had to sell the unit. They had to figure out what to do with it, so they interviewed one agent who was out of Coral Gables, and they interviewed us also.

The Zaha Hadid Price

They asked the agent what kind of price he thought the unit should be sold at, he gave it a market value of 10 million dollars. We gave it a market value of 6,5 million dollars.

The seller thought: Ten million dollars! This guy really knows what he’s doing! He is going to get us more money, we’re going with him. But then the unit sat on the market for eight months, and they told me they only had four visits.

When the property sat on the market for eight months with no interest then they came back to us and told us it didn’t work out with the first realtor. They asked if we would list it, and then they asked us again: What’s the price you think this property can sell? I said, once again, 6,5 million. All of a sudden this was a big story because it’s Zaha Hadid and it was a three-point five million dollar reduction from the first realtor’s initial price.

That unit is under contract now. I’m not going to divulge the price but obviously, it’s 6.5 million or maybe slightly under. It shows us that if you list a home, and you’re authentic about it, and you have integrity, and you know the market, it will sell.

In the W Hotel many units are over eight hundred thousand dollars, so the Zaha Hadid deal immediately transported my reputation and my image from being a “five hundred to eight hundred thousand dollar sales guy” to be a million-plus Top Realtor in Miami.

Some people want to know what does it take to break into being one of few Top Realtors in Miami? For me, that’s my story, and obviously not how it’s gonna work for everybody, but that’s how it worked.

Can someone break into luxury as a new realtor?

Yes, you can if literally all you do is focus on luxury. You might have a bigger gap between the time in which you start to when you begin to do business.

My story is a little bit more unique, I started on the new development route so I was an on-site salesperson, so I was kind of given a block of inventory to sell and I was able to do that. I think because of my personality, you have to be super personable.

I was being interviewed for these new project positions against people that had tons of experience, but I’m just a super outgoing personable guy, and I get along with people really well.

Your advice for new realtors?

A lot of sales in real estate are relationship sales, so you’re not really using closing techniques, it’s more of a relationship. You have a friendship with people and then they want to buy from you.

I think if you are new to real estate and want to become a Top Realtor in Miami, it’s better to focus on creating relationships rather than focusing on sales techniques and reading all these different sales books. It’s about having your clients really become your friends.

It’s also about putting yourself in that environment where you’re going to meet people that may have an interest in Miami. Start going to events and then you just meet people and you’re enjoying it because you enjoy football, or arts, or baking, or charity.

Getting involved not only to meet potential clients, but do it because you want to give back to the community, you want to be involved, you want to have fun and meet people, and in the end people like you.

Then six years later or six months later they might think: Hey let’s give Ivan a call because he’s a great guy and he is in the area, he’s a good guy, he’s funny… and it goes from there, before you know it, you become a Top Realtor in Miami.

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