1. he temporary lobby at the Yacht Club at Portofino condo will open on August 17th so the remodeling on the main lobby can begin. The temporary lobby will be located at the Condoideas Realty Group office.

2. Condoideas Realty Group will relocate to the office next door.

3. There are some slippery tiles by the Yacht Club at Portofino pool, especially when people get out of the pool through the shower area. In the past months, it has been discussed several possible solutions and in the end, the final decision was to get a company to apply an anti-slip treatment on July 31^st in that particular area.

4. The city of Miami Beach owed some money to the Yacht Club at Portofino Condo that summed up to $704,000 including operating costs reimbursements, additional rent owed, marina fees, and more. These monies have been finally paid and put into a special account so that expenses taken from this amount can be completely trackable.

5. The Yacht Club at Portofino Condo board approved the following expenses:

5.1 Grease trap and an exhaust fan for the Yacht Club at Portofino convenient store, not to exceed $51,000 coming from the account for special projects. These items must be provided in order for the Yacht Club deli to be able to sell prepared foods and not only prepackaged food. The commercial rent for the convenience store will go from $1,500/month to $2,000/month when they install the new items.

5.2 Emergency COVID-19 expenses of $88,000. Only the extra housekeeping service for the Yacht Club at Portofino Condo rose to $26,000.

5.3 Replace 30 smoke detectors on the Yacht Club at Portofino common areas to solve the false fire alarms happening lately in the building

5.4 Change the waste management company to Waste Connections which will add a cost of $27,000 as the previous company was charging extra for the recycling material. The new company will save $21,000 on waste removal.

6. New Rules and regulations approved by the Yacht Club at Portofino Condo board:

6.1 Residents at the Yacht Club at Portofino condo must wipe gym equipment after using it.

6.2 Bicycles are not permitted to be transported through the Yacht Club at Portofino lobby or lobby corridors

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Firstly, unit #1606 at the Yacht Club at Portofino condo, which was listed a couple of weeks ago, is a completely remodeled 1 bedroom unit facing Biscayne Bay. This beautiful unit has upstanding upgrades in the kitchen, bathroom, flooring, ceiling and light fixtures. The kitchen counter was specifically designed to add more cabinetry to the kitchen which is a highly valuable plus as the original version has few pantry spaces. This incredible unit is listed at $579,000 or $742/sqft. All the assessments have been paid in full and the unit is move-in ready now!

The other just listed unit is #612, with an asking price of $799,000 or $707/sqft. What I liked the most about this property is the unique large deck it has, perfect for building a garden with an outdoor  Dining table. This 2-bedroom is a corner unit located directly on the Yacht Club at Portofino pool deck with direct access to the resort-style pool, Jacuzzi, BBQ grills and Tennis court. The unit is nicely remodeled with marble floors and a brand new kitchen and bathrooms. With over 1,100 sqft of living area, this unit was listed on the market last week.

If you would like to know more about any of these units, or any other available one at the Yacht Club at Portofino Condo, don’t hesitate to contact us today! We’ll help you find the deal that fits your needs.

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Firstly, commercial activities, such as real estate showing, open houses, and contractor visits have been prohibited until further notice. Move-in’s and move out’s are still permitted at the Yacht Club at Portofino Condo.

Another measurement took by the Portofino Yacht Club Condo was to limit deliveries to only be able to access the front desk or the receiving area. Residents are instructed to go down to these areas to receive their deliveries. In case the resident informs the concierge, they are feeling sick, their packages will be sent to their units avoiding physical contact with the employees and other residents.

Only urgent maintenance problems that require a contractor’s visit will be allowed. Such as appliance repairs, leaks, etc. Each case will be handled differently as per the management office instructions. The Yacht Club maintenance staff will be reduced and will only handle priority matters.

Valet parking will no longer access anyone’s vehicle. For those residents that use Valet Parking for their second vehicle, they are instructed to access the valet gate for them to self-park. The valet employees will open remotely and have them see an attendant stationed on the second floor. Regarding resident’s visitors, they will have to be announced and the unit’s resident must confirm they are his visitors in order for a valet to open the gate for them.

All these extra measurements have the only goal to maintain the safety and healthiness of the Yacht Club at Portofino Condo residents and its staff.

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Here is a list of preventive methods the Portofino Yacht Club is following from now on until further notice:

1. The Tuesday Board Meetings at The Yacht Club Condo management office have now been canceled.

2. Common areas will be closed such as the fitness center, the Billiard room on the 3rd floor. As well as the pool and jacuzzi will be limited to half its capacity.

3. The management office at the Portofino Yacht Club will be working remotely and will only answer via email. In case you require their help please contact office@90alton.com.

4. Contractors won’t be permitted to access the building except for emergencies such as AC repairs, leaks, or other urgent appliances repairs.

5. Guests won’t be allowed on-site if the Yacht Club resident is not there. The front desk will sign them in to avoid any physical approach.

6. Portofino Yacht Club residents will have to report to the lobby and greet their visitors. If possible, please avoid having visitors.

7. The fingerprint access has been shut off. Only fobs will be admitted to access the readers at the Yacht Club.

8. Residents are requested to self-quarantine if they are feeling ill. For all the rest of the residents at the Yacht Club, the management office is requesting not to go out, but for necessities.

9. For elderly residents, it is recommended to not use the elevators with over 2 people.

10. The management office will guide residents over 60 years old to set up delivery accounts to get their groceries delivered with apps such as Instacart, Publix, Uber Eats, etc.

11. Valet employees at the Yacht Club at Portofino must wear gloves and wash their hands as often as possible.

12. Employees have been asked to bring their lunch and snack with them. They will ask to go home if they show any signs of illness. They are disinfecting and washing their hands as often as possible.

The Yacht Club at Portofino is taking all these preventive regulations to assure its residents and team safety. They strongly recommend every involved party to remain prudent and follow the guidelines.

INNOVATIVE RESIDENT INITIATIVE:

Even residents at this condo are trying to give some interesting initiatives to help the Yacht Club community. Initiatives such as the one a family had by offering home-cooked daily meals to their neighbors. The family husband is a chef and restaurant owner that wants to help his condo community by only charging for the food cost and supplies but not for the cooking service provided. If you might be interested to get into his meal prep plan, text the following number: (305) 922-3779.

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What are the updates for the lobby itself? Well, the hallway and the bathrooms of Phase 1 is almost over finished. Check out the pictures hereafter of the new bathrooms. They look awesome.

In the next few weeks, they should start with Phase 2 which is the elevator landing of the Yacht Club at Portofino. This means that within 4/5 months they will start the lobby itself.

Regarding the deli, we might have back a deli that serves cooked meals and brews us some coffee since the building is getting quotes from different vendors to put a grease trap as per the city regulations.

Let’s check out the deals you can find at the Portofino Yacht Club this month. Unit #1207 is listed at a great price for $415,000 but if you have the means I would go for the best deal which is #3007 listed for $449,000. The view is gorgeous from that floor height.

Then if you want to buy a 2 bedroom at the Portofino Yacht Club you have a lot of choices which means you can negotiate the price down. All of the ones facing the ocean are in the high $600’s. I hope you are not looking for a 2 bed facing the bay because I unfortunately just have one at this time which is listed for $1,089,000.

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The Portofino Yacht Club has 3 areas of residential units. The tower, the townhouses in the front (alton road) and the townhouses/flats on the marina side, underneath the pool.

Let’s start with the easiest one which is the tower. Every floor is divided into 12 units at the Portofino Yacht Club. Out of these 12 units, 4 of them are one bedroom and 8 are two bedrooms. The one bedroom units come in two different types of floor plans. The 1 bed facing the bay come with an open kitchen with 780sqft of living space. These lines are the 06 and the 08 lines. Then the 1 bed facing the city have an enclosed kitchen and are 740sqft. These are the 07 and 05 line. The great assets of the 1 bedrooms are the

Now let’s talk about the 2 bedrooms at the Portofino Yacht Club. There are 2 different floor plans. The smaller 2 bed are 1,090sqft and these are the 03 and 09 line when facing the city or the 10 and 04 line when facing the bay. The largest 2 bedrooms are the corner units. You will enjoy 1,130sqft of livable space. The 02 and the 12 line face the bay whereas the 01 and 11 line face the city.

Finally let’s talk about the Penthouses at the Yacht Club at Portofino. We have 3 floors of penthouses. You’ll be able to choose between a 1,2 or 3 bed penthouse. They all enjoy higher ceilings and the majority have expansive terraces. At this time PH3210 is for sale for $1,999,000.

The other part of the building are the Townhouses and flats. The Townhouses on the marina side are 3 bedrooms on 2 floors. They are the biggest units in the Portofino Yacht Club. Then you have the flats which are 2 bed and also large 1 bed+den. The townhouses or villas on the Alton Road side are also large. The largest unit in the entire building is right now for sale for $8,995,000. It is a 6 bedrooms featuring 4,500sqft under Air conditioning.

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First, #2012 sold and had been on the market since September 2018. At that time they started marketing it for $1,100,000 but it finally sold for $850,000. It wasn’t remodeled but the 12 line is a corner unit facing the bay so it is very desired.

The #2612 also sold for a similar price of $857,000. That unit was not remodeled either but a few floors higher which does make a big difference since the Rebecca Towers are to the North of the Portofino Yacht Club.

In 2016, when the market was hot, the corner units facing the bay were selling up to $1,150,000 so that’s a huge profit you can make by buying at the right time and selling it during a peak season.

Finally, our company proudly sold #2010 for a record price of $1,050,000 or almost $1000/sqft. This unit was fully and beautifully remodeled. It’s the highest sale in the building since 2016 (except for a Townhouse).

To conclude I think sales have hit the bottom in Miami Beach so buyers are now ready to pull the trigger. A lot of buyers have been eyeing on Miami for the past 2/3 years and they witnessed prices go down. Now is the perfect timing to put an offer on your preferred unit at the Portofino Yacht Club.

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Which units are the best deals at this time?

If you are looking to purchase a 1 bedroom condo at the Yacht Club at Portofino then your entry price would be #1005 for $458,000. This unit is fresh on the market a week ago. From the 10^th floor, you see the ocean but we cannot say it’s a direct oceanfront view. Nevertheless, the view is very open and bright. The condo faces East so you can enjoy a gorgeous sunrise from the Portofino Yacht Club. The current owner bought this unit from the developer back in 1999 and paid $163,000 for it!

If you are looking to buy a 2 bedroom at the Portofino Yacht Club, then your best bet is #303 for $500,000. The unit has been on the market since January. It was first listed for $675,000 so I guess the owner had to lower his expectations. The last unit on a low floor which sold was #301 for $510,000 so without even starting a negotiation you are starting at a lower price point. However, it is a low floor and you are located right above the valet area so beware of the noise.

If you want to buy a 2 bedroom with a view then your best bet is #2703 listed for $750,000. It has a great view of the ocean and is vacant so it’s easy to show. The last sale of a similar non-remodeled unit was for $785,000 so don’t miss out on this deal!

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In real estate, first impressions count a lot so let’s try to make the best of your unit before selling it. At the Yacht Club at Portofino we’ve had the chance to sell so many remodeled units far quicker than original condition units.

Let’s take for example Portofino Yacht Club #2806 which we sold in less than 45 days. This is a one bedroom facing the bay which has been totally remodeled and very well decorated. I was doing an open house for that unit when some buyers came into the Yacht Club at Portofino and I showed them #2806. They immediately loved it but they still asked me to show them other units in the building to compare with this one. The other ones I showed them at the Yacht Club at Portofino were actually cheaper but not remodeled and that #2806 stayed in their heads till they decided to put an offer and finally bought it. Let me show you the difference between an original bathroom and a remodeled one as well as a new kitchen and an old one.

Now let’s have a look at a 2bedroom which I just rented today. The tenant had viewed at least 5 others rentals in the Yacht Club at Portofino and his budget was way lower than the $5,500/month required to get #1912. The owner has just remodeled it and he spent around $100,000-$150,000 so he didn’t want to rent it like the other units in the building. His unit is a premium unit in the Portofino Yacht Club since it’s remodeled corner unit with bay views.

He was one of the first owners in the building and he still had carpet in the bedrooms! Look at the before and after pictures which require no words from me!

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So why is it a good time to sell your condo at the Portofino Yacht Club? Because the inventory is low and the last sales of bayfront units were at a high price.

Let’s first look at the last sales. The three last sales of bayfront condos at the Portofino Yacht Club were in the $800/sqft.

#2812 which sold a month ago for $950,000 or $840/sqft and it was not remodeled. The other one was #1804 which closed for $840,000 or $770/sqft totally remodeled. Finally, PH#3308 sold for $805/sqft or $612,000.

These last sales give us a positive forecast for the remainder of the year.

Now if you want to sell your unit at the Portofino Yacht Club you are going to ask me for what is available for sale today on the market?

Well if you want to buy a 2-bed condo there are only available ones above $900,000. You can choose between #2612 for $919,000 or #2012 for $939,000 or #2010 for $1,075,000. This means they are all above $800/sqft.

You can also enjoy a 2-bed Penthouse at the Portofino Yacht Club for $2,200,000. This unit has an awesome balcony and 10 feet ceilings. It is very well remodeled.

If you are looking to sell your 1-bed condo at the Portofino Yacht Club, the prices range from $555,000 to $626,000 for the remodeled unit. These are the only units under $1M in the entire south of Fifth neighborhood which offer sweeping views of the bay and downtown Miami so you will find a buyer quickly.

As a conclusion, if you are planning on selling your unit at the Portofino Yacht Club it is the right timing even if we enter the low season. Please call us so we can evaluate its pricing.

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