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Home My WebLink AboutSubmittal-Presentation-Jack LowellJanuary 15, 2013 e Inventory and Sales Miami -Dade County 2002-2012 25,000 20,000 15,000 10,000 5,000 EWMRealty ::...: ::: lt,.. HI4ISTI�'S 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2017 Single -Family Homes For Sale on 12/31 Condos For Sale on 12/31 Single -Family Homes Sold Annually -Condos Sold Annually S;n3lr-Family Homes For Sale on 12'31 2002 5.134 2003 4 826 2004 3.505 2005 5,489 2006 11,109 2007 14 819 2008 14.988 2009 6.278 2010 8 156 2011 5 474 2012 4,334 Cs'nu_r. F.,r�aI. '.n 12'31 r _'r'._i , 'r . , 148.75 ...5', 2' ! , 1.'5 1`,'17 it, r.':5' 7 11'4 Single -Family Homes Sold Annually 12.678 12 534 12.481 1.156 9 886 6 40' 6,058 9.714 9.902 11 30', 11,951 Condos Sold Annually 12 204 24,882 12.872 25,406 13.897 26,378 ' 5.260 26,416 11,932 21,818 7.592 13,993 6 731 12,789 10.681 20.395 14,161 24,063 17,533 28,834 17.361 29,312 Total Units Sold (Single-Famlly & Condo) Single -Family Sales % of Total Sales 51% 49% 47% 42% 45% 46% 47% 48% 41% 39% 41% Condo Sales % of Total Sales 49% 51% 53% 58% 55% 54% 53°k 52% 59% 61% 59% Stngle-randy Medan Sold Pnce (41h Otr Avg Anrua' Increase (De/_'aaw, $ 189.000 $ 231,000 225. $ 287,000 24% 5 367,000 28% $ 374.000 2°4 5 348.000 -7% $ 223,000 -36% S 181,000 -19'S0 $ 170,000 -6`70 $ 173,000 2% $ 199.000 15% Corn.. '.ledian ;;';I F'n ,- . ' , -. Annual lncrea;e.De. •.:s"', $ 133 000 4.9 $ 152,000 14°,u 4.6 5 206,000 36% 3.4 $ 256,000 24% 5.9 5 253,000 -1% 13.5 $ 260.000 3°%° 27.8 $ 168.000 -35% 29.7 5 137.000 -184 10.2 S 101,000 -26% 9.9 5 124.000 23% 5.8 $ 157,000 27% 4.4 Sin•le-Family # Months Supply on 12/31 Condos # Months Supply on 12/31 6.4 5.8 4.5 7.6 20.0 37.2 40.4 18.2 12.8 5.9 5.0 Source: Southeast Florida Regional MLS item DI.3 on 03-14-13 Todd B. Hannon u u 13 - oe)s/ s)6•-)71a /_ Jac /' Low /j $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $- Worldwide Square Meter Prices in US$ Urban Apartments -120 sq. meters (1,291 sq.ft.) IIIiiiiu..1. .4 c , ce, yea 6 ce yQ, ac ec . a\A as yP, c� �Q, ti� e1`ocaocsoc �o��oc`��aoo�QJs�• �ec�a�\��aQo�o*, ' „Al P0,, owe o`'b earl sec`• \• a6.) 0,0 o\0,- •, Qa 5t. 5 .so• o• e� P c` 0 c`., 4 Qa 4o era �e `Er lac loco �a� ct�J cao Oec q- `i�S <cca Source: www.globalpropertyguide.com Data based on : 2011 and 2012 average per square meter (sq. m.) prices in US$ of 120-sq. m. apartments located in the centre of the most important city of each country, either the: Administrative capital and/or Financial capital and/or the centre of the rental market (iun Realty INTERNATIONAL A Berkshire Hathaway Affiliate EXCI.IISIVF AFFII. IATF LJF CHRISTIE'S INTERNATIONAL REAL ESTATE US$/sq. Meter USS/Sq. Foot Monte Carlo, Monaco $ 52,602 $ 4,887 London, UK $ 24,337 $ 2,261 Hong Kong $ 19,981 $ 1,856 Paris, France $ 19,937 $ 1,852 Moscow, Russia $ 17,650 $ 1,640 Geneva, Switzerland $ 17,107 $ 1,589 Singapore $ 16,350 $ 1,519 New York, USA $ 15,587 $ 1,448 Tokyo, Japan S 15,122 $ 1,405 Stockholm, Sweden $ 9,439 $ 877 Sydney, Australia $ 8,717 $ 810 Rome, Italy $ 8,583 $ 797 Toronto, Canada $ 8,288 $ 770 Miami Beach, USA $ 6,997 $ 650 Frankfurt, Germany $ 5,439 $ 505 Miami, USA $ 4,367 $ 406 Sao Paolo, Brazil $ 3,836 $ 356 February 1, 2013 Submitted into the public record in connection with item DI.3 on 03-14-13 Todd B. Hannon City Clerk Net Assessed Valuation of Taxable Property Last Ten Fiscal Years Tax Year Net Assessed City of Miami Value Tax RRate 2002 15,113,061,441 10.0680 2003 16,937,886,770 9.8525 2004 18,871,123,318 9.6663 2005 21,929,702,057 9.2645 2006 26,977,377,288 8.9955 2007 33,032,909,346 - 7.8775 2008 37,755,839,094 8.2543 2009 37,149,190,992 8.3335 2010 36,949,521,366 8.6441 2011 30,352,746,208 8.5010 2012 31,333,834,037 8.4710 Source: City of Miami Comprehensive Annual Finandal Report (CAFR) Note: Property In the city of Miami Is reassessed each year. State law requires the County Property Appraiser to appraise property at 100% of market value. The Florida Constitution, amended 1/1/95, II property to 3% per year or the amount of the Consumer Price Index, a no assessed value shall exceed market value. - Submitted into the public record in connection with item DI.3 on 03-14-13 Todd B. Hannon City Clerk Property Information: Folio 01-4103-037-0580 Property Address 701 SW 27 AVE Owner Name(s) DISTRICT BOARD OF TRU OF MIAMI DADE COLLEGE Mailing Address 11011 SW 104 ST d1131 MIAMI FL 33178 Primary Zone 6100 COMMERCIAL - NEIGHBORHOOD Use Code 0099 STATE OF FLORIDA BedslBaths/Half 0/0/0 Floors 15 Living Units 0 Adj. Sq. Footage 359,793 Lot Size 79,498 SO FT Year Built 1974 Legal Description BEACOM MANOR PB 8-121 LOTS 77 TO 81 INC & LOTS A & D & W21OFT OF S300FT OF SW1/4 OF SW1/4 LESS S4OFT & W5OFT & LESS ST ON N SIDE OF 3-54-41 LOT SIZE IRREGULAR LAssessment Information: Current Previous Year 2012 2011 Land Value $2,702,932 $2,702.932 Building Value $11,09/,068 $5.722,590 Market Value $13,800.000 $8,425,522 Assessed Value $9,268.074 $8.425,522 Exemption Information: Current Previous Year 2012 2011 Homestead $0 $0 2nd Homestead $0 $0 Senior $0 $0 Veteran Disability $0 Civilian Disability $0 $0 Widow(er) $0 $0 MIAMI-DADE COUNTY OFFICE OF THE PROPERTY APPRAISER PROPERTY SEARCH SUMMARY REPORT Carlos Lopez-Cantera Properly Appraiser Aanal Photography 2;112 Taxable Value Information: Current Previous Year 2012 2011 Exemption/Taxable Exemption/Taxable County $5.063.005 / $4,215,089 $0 / $8,425,522 School Board $5,053,005 / $8.746,995 $0 / $8,425,522 City $5,053,005 / $4.215,069 $0 / $8,425,522 Sale Information: vale Arnoum R'coming uanncauon L. Book -Page 6/2012 $25,000,000 28152-2459 Deeds to or executed by a federal, state, or local government agency (Including trustees (or Board) of the Internal Improvement Trust Fund, courts, counties, municipalities, sheriffs, or educational organizations) 8/2001 $8,450,000 19865-0418 Sales which are qualified 1/1997 $0 17486-3891 Sales which are disqualified as a result of examination of the deed 12/1973 $1,000,000 00000-0000 Sales which are disqualified es a result of examination of the deed Submitted into the public record in connection with item DI.3 on 03-14-13 Todd B. Hannon City Clerk Property Information: Folio ` 01.4122.001-1521 Property Address 2699 S BAYSHORE DR Owner Name(s) 2699 STEELBRIDGE LLC Mailing Address 999 BRICKELL AVE STE 403 MIAMI FL 33131 Primary Zone 8110 COMM/RESIDENTIAL-DESIGN D Use Code 0013 OFFICE BUILDING Beds/Bathe/Half 0/0/0 Floors 9 Living Units 0 AdJ. Sq. Footage 105,082 Lot Size 50,608 SO FT Year Bulit 1972 Legal Description RHODES NEW BISC PB B-16 PT LOTS 18-19-43 & 44 NOT INCL IN THOMPSON TR & PT LOT 20 & ALL LOT 21 & LOTS 45 THRU 58 INC BLK 41 LESS BEG MOST SLY LOT 58 NELY-NWLY R/W/L S BAYSHORE DR Assessment Information: Current Previous Year 2012 2011 Land Value $3,226,132 $3,226,132 Building Value 89,539,400 $8,859,783 Market Value $12,765,532 $11,885,915 Assessed Value $12,755,532 $11,885,915 Exemption Information: Current , Previous Year 2012 2011 Homestead $0 $0 2nd Homestead $0 $0 Senior, $0 $0 Veteran Disability 80 Civilian Disability $0 $0 Widower) $0 $0 MIAMI-DADE COUNTY OFFICE OF THE PROPERTY APPRAISER PROPERTY SEARCH SUMMARY REPORT Carlos Lopez-Centere Property Appraiser • Aerial Photography 2012 Taxable Value Information: Current Previous Year 2012 2011 Exemption/Taxable Exemption/Taxable County $0 / $12,765,532 $0 / $11,885,915 School Board $0 / $12,765,532 80 / $11,885,915 City $0 / $12,765,532 $0 / $11,885,915 Regional $0 / $12,765,532 $0 / $11,885,915 Sala Information: Date Amount Recording Qualification Code Book -Page 5/2012 $16,000,000 28106-1586 Sales not exposed to the open - market 11/2007 $20,200,000 26043-0107 Sales which are qualified 10/1988 $0 14122-1489 Sales which ere disqualified as a result of examination of the deed 6/1985 $17,750,000 99999-9999 Other disqualified - Submitted into the public record in connection with item DI.3 on 03-14-13 Todd B. Hannon City Clerk My Home Miami -Dade County, Florida iami•a•e.•ov Property Information Map Aerial Photography - 2012 0 This map was created on 3/11/2013 4.53 15 PM for reference purposes only Web Site CS 2002 Miami -Dade County All rights reserved 1111110 124 f MIAMIDE Summary Dotalls: Folio No.. Property. .01.3230-004-0120 3550 BISCAYNE Bt VD Mailing TERRA SKYLAR 3550 Address: INVESTMENTS LLC 2685 SOUTH BAYSHORE OR STE 1020 MIAMI FL 33133- Property Information: Primary Zone: -3405 CEN HIGH DNS I Y 9ORDERSCB CLUC: 3013 OFFICE BUILDING Beds/Baths 3/0 Floors: 7 Living Units: 3 Adj Sq Footage: 106.801 Lot Size' 30,307 SO FT Year Built: 1972 JOHN F COLLINS PB 1• 53 LOT 8 8 EBOFT OF LOT 9 & TRACT A PER Legal DA M KEYNTON PROP Description. SUB PB 38 -36 LESS RAN LOT SIZE RREGULAR OR 17445- ,2075 1298 1 Assessment Information: Year: 2012 2011 Land Value 52. 121,490$1,548. 700 Building Value $3.860.090\83,860 090 Market Value: 55 981,580 $5,408.790 Assessed Value: S5 981,580 S5,408. 790 Taxable Value Information: Year: 2012 2011 Applied Applied Taxing Authority Exemption/ Taxable Exemption/ Taxable Value Value. Regional Sol $5,981,580 50! $5,408 790 County f0/ 55,981,580 $0/ 55,408.790 City VW $5 981,580 $0/ $5,408.790 School Board: $0/ 55.981.580 $0/ $5.408.790 Sale Information: Sale Dale 13l2012 Sale Amount Sale OR Sales Qualification Description' ;7.800.000 1§266A712 Sales qualified at time of sale, but transaction nvolved multiple parcels With multiple tax denti8catton numbers View Additional Sates Submitted into the public record in connection with item DI.3 on 03-14-13 Todd B. Hannon City Clerk My Home Miami -Dade County, Florida miami • ade. • o Property Information Map Aerial Photography - 2012 0 — This map was created on 3/11/2013 4:53:32 PM for reference purposes only. Web Site 0 2002 Miami -Dade County. All rights reserved. Submitted into the public record in connection with item DI.3 on 03-14-13 Todd B. Hannon City Clerk 124 ft MIAMI•DADE Summary Details: olio No Q1-3230-001-0020 Property 3557 NE 2 AVE Mailing TERRA SKYLAR 3557 Address INVESTMENTS LLC 2665 S BAYSHORE DR STE 1020 MIAMI FL 33133- Property Information: Primary Zone: B405 CEN HIGH DNS tY BORDERS CB CLUC 0026 SERVICE STATION - /;UTOMOT I VE Beds/Baths: 0/0 Floors, 1 Living Units: 0 Ad' Sq Footage' 2.170 Lot Size: 18.513 SQ FT Year Built 1978 30 53 42 BUENA VISTA PB A-38 W4FT OF LOT 3 & 12 & LOTS 4 THRU 6 Legal ESS N15FT & LOTS 13 Description THRU 15 LOT SIZE 18513 SQ FT 0R 19388- ,2098/22480-1878 0704 4 Assessment Information: Year: 2012 2011 Land Value 5703.494 5740.520 Building Value 51,000 $59,350 Market Value. 5704.494 $799,870 Assessed Value $704.494 $799.870 Taxable Value Information: Year: 2012 2011 Applied Applied Taxing Authority: Exemption/ Taxable Exemption/ Taxable Value: Value' Regional 50/5704.494 50/5799.870 County 5015704.494 503799 870 City 50/5704.494 504799.870 School Board: 5015704,494 $04799.870 Sale Information: Sale Date: /2012 Sale Amount: 2.000.000 Sale O/R: 8- Sales ransaction involving cation QualtfiDescription: ffiliated parties (family. orporete business. andlord-tenant). View Additional Sales 3 A MIAMi•0A05 COUNT' - YEAR.END 2012 SALES ACTIVITY OFFICE MARKET THE OPTIMIST SALES INDEX Average of Two Highest Prlcet5F's and Two Lowest Cap Rates Per Quarter 14.0% • 120% • is 100%- 60% - 6.0% 4.0% - 20%- 0.0% —rr,ce7SF • $600 • 3500 - 5400 - 3300 - S700 20094y 20101q 70102y 70103y 20104y 70111y 701124 201139 2011 sly 201214 20122y 20123q ..,e<e CuMm r0M1,5.s SALES VOLUME & PRICE Based on Offka Building Sales of 15,000 SF and Larger j =Salm V4drass 3400 — f10- 5400 5250 • S200 • 51A- 5100 — ..914e441Y18 - 1500 • $450 - $400 • $350 • 5300 • S250' — 5200 — 5150 - $100 r� SD 2009 1q 2009 3 0 014 0 0 30 7011 1 2011 3 2012 1 q 2012 q suw.e. Co51. COMYir U.S. PRICE/SF COMPARISON Based on Office Building Sales of 15,000 5F and Larger 5520 04/0 5420 5310 5320 L+i 3270 5220 37 5170 512D 570 S20 �aVarEDa4M Cyr 2009 2029 1q 3q Souxecosts, cOMNe 7010 1q 1010 3q 2011 1y errpr,06 2011 3q 2012 2012 lq 3q f132 50 SALES ANALYSIS BY BUILDING SIZE Based on OffKe ■ sans From Oa. 2011 • . 2072 t 50.000 SF ^ 77 1,518,755 S 250.136,050 S 164. 70 74414 508.2491C SF 13 1,044,694 $ 115,478,300 8 110,54 7.50% 25040-4998 SF 1 344,215 $ 44.000,000 S 127.83 10.45% >500k SF 786.267 S 260,000,000 $ 330.68 5.90% ivn, t.W. U.S. CAP RATE COMPARISON Based on Office Bullding Sales of 15,000 SF and Larger 1 a 130% 12 0% 110% 10.0% 9.0% AD% 7.0% 60% 50% 40% 3 0% ..m.Mlaral.Wda Corlf bus 2009 2009 1010 2010 2011 2011 2012 14 3q Iq 1,3 1q 3q 1q Sows roar COMPS. Submitted into the public record in connection with item DI.3 on 03-14-13 Todd B. Hannon City Clerk