Weekly Foreclosure List

The Golan Team provides a free service to its clientele...A free weekly report of all new Single Family Homes and Condos Foreclosure report. See where the real deals are...If you already know where you want to buy whether it is in Miami Beach, Bal Harbour, Surfside, Sunny Isles, Aventura, Coconut Grove, Coral Gables, Fort Lauderdale, Hallandale, Hollywood or anywhere in Miami Dade or Broward county you can get this free list emailed to you weekly. You can even customize the search to meet your own needs.

To sign up click here: http://www.southfloridaluxuryforeclosures.com/

This week there were 11 new foreclosure condos and 14 new foreclosure homes. Just click on the link below and use the arrows on the top left to scroll from property to property.

If you like something call us to 786-271-1235 or drop us a note to foreclosures@golanteam.com and we will send you more information and schedule and appointment if you wish to see the property.

New Foreclosure Condos Listings

New Foreclosure Home Listings

Stay on top of the latest Foreclosures by subscribing to the Golan Team luxury foreclosure website.

The Golan Team is headed by Eyal and Debra Golan a husband and wife team that have been selling luxury condos and single family homes in the South Florida for the past decade. Visit their website at www.golanteam.com or call them at 786-271-1235 to discuss your Real Estate needs.

Aventura - City Park Development in Foreclosure

The Golan Team have learned that City Park project located at the corner of Waterways Boulevard (207th St) and Northeast 30th Avenue, just east of U.S. 1 is headed for the auction block.

City Park Aventura was to include 53 townhouses, 51 apartment units, 156,921 square feet of office space, a 194-seat restaurant, a bar/cocktail lounge, 19,352 square feet of retail space, a 198-room hotel, a 5,087-square-foot health spa/gym, and an 18-lane bowling alley, according to a development proposal submitted to Miami-Dade County.

The Development headed by Sky Development was meant to break ground in 2007. However the project never took of. The Developer, CEO Yitzhak Toledano assembled the parcels in two separate deals in 2006. One purchase was from HRCBJS Partners who offered seller financing on the sale. Now they have won the foreclosure judgment on a $18.3m mortgage plus interest and fees against Sky Development. The site is scheduled for auction on August 13th.

If you drive by the site you will see it is completely fenced up and the grass looks more like a marsh than a field. It was an ambitious project but potentially could have bought a large source of revenue to the City of Aventura.

We will keep you informed as to what happens to this parcel of land.

2010 Semi Annual Report for Condo Sales Miami Beach - Hollywood

Our last posting on www.southfloridacondosblog.com covered sales for the first six months of the year with regards to single family homes. Now The Golan Team presents you an analysis on condo and townhome sales since the beginning of the year.

The numbers are outstanding. In the areas that we cover and specialize in: Miami Beach, Surfside, Bal Harbour, Bay Harbor Islands, Sunny Isles Beach, North Miami and North Miami Beach, Eastern Shores, Aventura, Golden Beach, Hallandale and Hollywood East, there have been a total of 2837 units sold just this past six months.

Here is the breakdown according to area: (ranked highest to lowest no. of properties sold)

1) Miami Beach – 927 units sold so far this year ranging in price from $16,000-$15,000,000
2) Aventura – 458 units sold so far this year ranging in price from $42,500-$2,350,000
3) Hallandale Beach – 452 units sold so far this year ranging in price from $26,555-$865,000
4) Sunny Isles Beach – 346 units sold so far this year ranging in price from $42,000-$4,700,000
5) Hollywood East – 308 units sold so far this year ranging in price from $30,625-$1,225,000
6) North Miami Beach – 114 units sold so far this year ranging in price from $16,500 - $399,000
7) North Miami – 104 units sold so far this year ranging in price $17,400 - $385,000
8) Bal Harbour – 48 properties sold so far this year ranging in price from $97,500-$8,700,000
9) Bay Harbor Islands – 40 properties sold so far this year ranging in price from $65,000 to $465,000

The market is definitely picking up. If you are interested in knowing today’s value of your condo or home, contact The Golan Team at info@golanteam.com or call us at 786-333-6200.

Aventura Mall gets new competition with the Opening of the Village at Gulfstream Park

On Thursday February 11, 2010 the long anticipated opening of the Village at Gulfstream Park will fill the day with festivities and specials. Located just north of Aventura at the beginning of Hallandale Beach and US-1 is the planned project of Gulfstream Park. What originally began as a racetrack has evolved into a casino, shops and will eventually house 70+ restaurants. It will be a true mecca destination and the Developers have spent in excess of $245 million to build this palm filled outdoor mall that will feature nightclubs, restaurants, shops and of course a casino and their world famous Horse Racing course.

A ribbon cutting ceremony starts the day off at 10 am and all day there will be grand opening celebrations including a Latin infused carnival with music and parade at 6:30 p.m.

For a full list of stores and facilities click here: Gulfstream Directory

The Developers of this project are Forest City Enterprises and Magna Entertainment Corp. (MEC). They entered into a joint venture partnership agreement concerning the planned development of The Village at Gulfstream Park. Under the agreement with MEC, Forest City will manage the development of The Village at Gulfstream Park, secure financing for the project and act as the property manager. Each of Forest City and MEC will hold a 50% interest in the joint venture, which will lease the land underlying the retail project on a long-term basis from MEC. The total project size is 1,000,000 square feet and will feature a total of 750,000 square feet of retail space that will be built in phases. This phase consists of 410,000 sf of retail. There are also plans for 1500 residential units to be built and a 310,000 sf club house, 140,000 sf of office space and when completed the entire complex will have 7000 parking spaces.

If you have any questions or would like property information contact the Golan Team at 786-271-1235 or send us an email to info@golanteam.com

Turnberry Isle Condo 2 Bed 2 bath Aventura FL

The Golan Team (786-271-1235) proudly presents this wonderful well priced two bed two bath at Turnberry, in Aventura FL. Priced to sell at $379,000, this residence is located on the 7th floor with direct east views. Enjoy magnificent views of the Intracoastal, Golden Beach and the Atlantic Ocean.

This spacious 2 bed in almost 1700 sf and features a huge master suite with two walk in closets, large master bath and unlimited water views.

Check out the view



Even from the interior of the unit you can enjoy this stunning water views day or night.

Enjoy building ammenities such as movie theater, state of the art gym, party and card rooms, board room, swimming pool, cafe & more. To view more details on this listing click TURNBERRY NORTH 7F


Turnberry Isle is one of the original gated Intracoastal communities in Aventura. Conveniently located across from the 300 acre Fairmont Turnberry Golf Course, minutes from Aventura Mall and minutes from the Beach, this complex consists of 4 buildings and offers value, service, privacy and large and spacious residences. It is conveniently located within walking distances to Houses of Worship (Safra Synagogue, Young Israel, and others).

Units range from 1 bedroom to 4 bedroom with Intracoastal, Ocean and golf views.
To see current listings in all the buildings click below

Turnberry Isle North Tower

Turnberry Isle South Tower

Turnberry Isle Marina Tower

Turnberry Isle Towers

If you are interested in this property or any other in Aventura, Sunny Isles Beach, Bal Harbour, Miami Beach, Golden Beach, Hallandale or Hollywood send us an email to info@golanteam.com or call us at 786-271-1235.

Are Developers Bankers? Are Bankers Developers?

In the past it was so simple. You needed a loan you went to a Bank. You needed to buy property you went to the Developer. Nowadays this line has been totally obscured. Last week, Stephen Ross of The Related Companies applied to form a bank. Here the Developer has now decided to become the Bank. Then you have several banks that have foreclosed on projects and are now selling them at discounted rates to Bulk Buyers and other investors. There the Banks have become the Developers/

Honestly, being in Real Estate has never been more tricky or confusing. Last Friday evening the FDIC closed the doors of Chicago Bank, Corus Bank. Corus Bank like so many of the other 92 banks that have failed this year invested heavily in Condo Construction Loans. In fact in just our area of South Florida they financed over $3,000,000,000 Yes that is THREE BILLION DOLLARS of construction loans. Notable projects include:

$288,115,000 for the construction of Jade Ocean in Sunny Isles Beach..
$216,000,000 for the downtown Paramount Bay
$191,800,000 for The Mint Downtown
$130,400,000 for The Ivy Downtown
$139,000,000 for Trump International Hotel and Tower in Fort Lauderdale
$135,000,000 for Phase II at the Continuum in South Beach
$130,000,000 for Artech in Aventura
$124,700,000 for the Caribbean in Miami Beach (note the outstanding balance of this loan was just settled for $50m by a NY investor)
$86,000,000 for Hampton South in Aventura
$83,175,000 for The Akoya in Miami Beach
$42,272,000 for The Solis in Sunny Isles Beach
$30,298,000 for The Peninsula in Aventura


Currently the FDIC is deciding whether to divide the bank’s assets and liabilities into Real Estate holdings and Bank holdings. Whichever way it goes, I guarantee you are going to see a feeding frenzy of Developers or Deep Pocket investors who will prance on the chance of buying these loans at a few cents on the Dollar. If this happens one can only ask how it will affect the pricing of this units still to come on the market. If you remember an earlier blog we did on the state of affairs in the Brickell area we discussed the construction of 23,000+ units in the last five years. Already almost 50% of these units are available for sale or resale (through the Developers or through the Multiple Listing Services) and we have seen Bulk Deals going for as low as $150/ft.

As a seasoned Real Estate team we can definitely say the opportunities out there are like nothing you have ever seen before. You need patience, education but there are definitely opportunities for the taking.

If you are interested in discussing your Real Estate needs further, call us at 786-333-6200, post a comment or email us confidentially at info@golanteam.com