Just a heads-up that the Board of Directors is having a meeting on February 26, 2025, at 7:00 PM. They’ll be discussing some important things that affect all of us and you’ll get to meet the 5 new board members, so here’s a quick rundown of what’s on the agenda:

What’s Being Discussed?

• Getting Things Fixed & Updated: They’ll be talking about contracts for things like fixing the elevator, getting better internet for the building (replacing Breezeline), hiring a new lawyer, and adding more electric car chargers (Blink Chargers). They’re also looking into testing the pool deck and fixing the roof.
• Making the Pool Area Better: The Board will decide if they should buy new furniture for the pool deck.
• Improving the Rec Room: They’re planning to make the Rec Room nicer with new AC, lights, ceilings, paint, security cameras, and door fobs. They’ll also discuss getting a ping pong and pool table!
• Keeping Us Safe: Security is a priority! They’ll be talking about different ways to control who comes in and out of the building, including facial recognition and phone access.
• Money Matters: The Board will discuss hiring a company to check the building’s finances (an audit).
• Reminders & Updates: They’ll give us a reminder about the building’s rules and guest policy. We’ll also get an update on the Deli.

Why Should You Care?

This meeting covers things that directly impact your living experience at the Yacht Club. Whether it’s the convenience of better internet, the comfort of an updated Rec Room, or the peace of mind that comes with improved security, these decisions affect us all.

Want to Know More?

This is just a quick summary. If you’re interested in the details, you can probably get a copy of the full agenda from the building management.

Stay Informed!

It’s always good to know what’s happening in our community. Hopefully, this helps you stay in the loop!

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In preparation for the next year, the Yacht Club at Portofino is updating. From the first to the last week of December, the entire maintenance team will work hard to give us a new building for the New Year. All the residential parking garages will be restored and pained. All the Air Conditioning in the building’s common areas and hallways will be cleaned and sanitized.

This month, with the holidays, the building will receive a lot of packages. Thus, don’t forget to pick it up within 5 days. If you need assistance, please contact Yamil, the front desk supervisor at the following email address residentexperience@alton.com .

To talk about Portofino Yacht Club’s life, we got the result of the Board Elections. We voted the last month to elect our new board. At the end, the same board was re-elected. I cannot wait to see what will happen the next year. What changes will occur in 2023 in the Yacht Club at Portofino? Well first in line are the elevators.

Currently, we have 2 condos listed in the Yacht Club at Portofino, one unit with one bedroom and another one with two bedrooms. The two condos face the ocean, but on different floors, the first unit is on the 9^th floor, and the second unit is on the 16^th floor. Easy to show, contact me if you want to discover these 2 condos. Then, if you are interested in visiting an apartment facing the bay, I can show unit FL-4. With a modern style, it is one of my favourites.

To conclude, on December 15th at 6 pm on the 6th floor the End of Year Holiday Party will occur. If you want to participate in the Yacht Club at Portofino’s event, contact Christina at the following email address manager@90alton.com before December 12th.

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Since the first week of October, the Yacht Club employees didn’t take a rest. As you have seen, our workers switched between maintenance and cleaning projects for the building. Our residence is improving its equipment. Recently, they installed glass panels in the lobby to enhance the design and the safety of our wonderful building. Good news, the exterior side of all unit doors will be cleaned and wiped down. They also just planted new beautiful shrubs in front of our offices, next to the valet. By the way, did you notice that to come to our office the best way now is thru the hallway next to the lobby.

In addition, the Annual Preventative Maintenance Project has just begun. Our engineers will be accessing all units to check balconies, windows, smoke detectors, bathrooms or the conditions of the doors.

Moreover, the next board meeting is approaching quickly. If you are not in the building on the 20th of October, don’t hesitate to participate, thanks to ZOOM. Contact the management for any questions. They will support you in the process.

In addition, every second and fourth Monday of the month, Marlin Exterminating will visit all the units to spray insecticide in your unit.

I kept the best till the last; Halloween party! The Yacht Club’s party will occur on the 27th of October from 5pm to 7:30pm at the Pool Deck. On the menu candies, chocolates and incredible costumes. Residents will have the opportunity to decorate a spectacular table with tricks or treats. Be careful the number of tables is limited. If you are interested, contact the management to reserve a table as soon as possible.

Claire, our new assistant

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Last Friday, on May 22nd, 2020, the Miami Beach Mayor and Commissioners approved the following resolutions to be sent for final approval to Miami-Dade County’s Mayor Gimenez:

1. Approve Miami Beach City Manager, Mayor, and Commissioners to reopen the beaches and hotels on June 1st, 2020.

2. Approve Miami Beach City Manager, Mayor, and Commissioners to reopen the Condo pools on June 1st, 2020.

These resolutions are still being studied and if approved by Mayor Gimenez, the Yacht Club at Portofino will certainly follow some strict restrictions to keep both their residents and staff health, and to avoid the COVID-19 spread.

The Yacht Club at Portofino Condo management office and Condoideas Realty Group will keep you updated on Mayor Gimenez response and will advise when the pool and other amenities will reopen.

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The grocery store of the building is closed and the contractors have already started to put the new floor tiles so let’s hope it reopens very soon.

On another note sales at the Portofino Yacht Club Year to Date are down 30% compared to 2018. But on the good side, the prices of sold units are flat which means that we could be seeing the end of the tunnel. Nevertheless, we will always find a deal for you and right now our best deal is #1007 which is a 1 bed 740sqft just reduced to $440,000.

Regarding rentals, it’s impossible to find a short term rental for the season. Every unit seems already booked or the landlords want a minimum of 6 months rental. But if you are looking for a huge 4,500sqft apartment that sleeps up to 12 people then you should consider the Yacht Club at Portofino townhouse listed for $100,000/month. I hope you already booked your rental at the Portofino Yacht Club to enjoy the outstanding weather starting in a few months.

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So is this “short term” policy an asset for the condo or a drawback?

The opponents of the “short term” vacation condo claim that allowing fewer restrictions on the term of the lease does increase the turnover of vacationers which as a consequence increases the possibility of damaging the common elements. Nevertheless, this depends on the quality of the “short term” tenants. Since short term rental prices are on the high side in the Portofino Yacht Club, the tenants leave a hefty deposit and are very cautious.

The majority of homeowners do think it is an asset because a lot of condos at the Portofino Yacht Club are second/vacation homes. The owners can offset maintenance fees and property taxes with some rental income. The fact of having an apartment which they can personally enjoy and rent short term once in a while raises their interest in purchasing in this building.  Their condo at the Portofino Yacht Club doesn’t cost them an arm and a leg so it becomes very attractive for them and as a consequence increases property values.

For example, this unit is a Penthouse with 3 bedrooms up for rent for $5,000/month in summer and $6,500/month in winter. In between the owner and his family enjoy it. It is already rented in August but it is available from now till the end of July.

We also have this beautiful unit #2708 1bed/1bath which is totally remodeled and is available from June to October for $2,500. Then the owners come till Dec 15^th and it’s available for another month or two before the owner come back in February.

By allowing short term rentals in the Portofino Yacht Club, residents mix pleasure and business. The building is very attractive to the international community who is not used to pay high property taxes and maintenance fee back in the home town. Renting their condo for 3-4 months pays their yearly expenses and gratifies them with a “semi-free” vacation condo.

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The supermarket is going to get a new facelift and our offices are also going to be remodeled. The flooring will be the same as the lobby flooring and my office storage will actually become part of the lobby.

What I wonder is will the lobby remodeling increase the value of the condos in the Portofino Yacht Club or not?

Some of the residents in favor of the lobby remodeling at the Yacht Club prone the fact that it will make our property values rise.

First, we need to adjust to the market and a lot of new buildings were recently constructed. We are competing with condos which feature brand new amenities, lobby, and architecture. A buyer looking to invest in Miami will compare different condos so we have to compete.

Then the existing older condos remodeled their lobby in the past few years. The Sunset Harbour, the Floridian, the Waverly, the Continuum North to name a few. As a result, we need to be ahead of the game and even if the lobby at the Portofino Yacht Club aged very well, we need to make it look brand new like our competing neighbors.

On the other side, the residents who were against the remodeling state that the condos which had their lobby remodeled in the last few years did not benefit from it in terms of value/sqft. In the past few years, the market evolved into a buyer’s market reducing our property values. As a result, the condos which remodeled their lobby during the growth phase found themselves with a pristine lobby during a market slowdown.

In conclusion, I would say that we didn’t need a new facelift for our Portofino Yacht Club lobby but we would have needed one in the next few years to compete with our surroundings. Above all, the timing couldn’t be better since we are doing the construction during a slow market and during the slow season.

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In terms of prices/sqft, the Portofino Yacht Club is also stable at $680/sqft whereas the condos in the neighborhood are almost all down. The Icon is 38% down at $667/sqft, the Murano Grande is 16% down at $728/sqft, the Murano at Portofino is 17% down at $994/sqft. This downward trend is probably linked to the drop of foreign buyers and the high inventory in Brickell and Edgewater.

So which unit has sold in the Portofino Yacht Club?

The highest sales price goes to #2802 which sold for $950,000. It’s a beautiful 2/2 with 1,130sqft corner unit facing the bay.  The unit was not remodeled. Then #1504 sold for $840,000. It is also a 2/2 facing the bay but the smaller floorplan. It was very well remodeled a few years back.

Then the next highest sale at the Portofino Yacht Club was Flat 6 for $750,000. Have you ever seen flats? They are located right underneath the swimming pool deck on the bay side. It feels like you are in a boat.

Two other units facing the bay sold at the Portofino Yacht Club. They are one bedrooms PH3308 and #1206 for respectively $612,000 and $490,000.

The most expensive sale on the ocean side is #2709 which sold for $785,000. It had a remodeled kitchen. Then #2609 sold for $640,000 which was a great deal. The unit was in original conditions.

The last three units which sold were on very low floors so they sold under $510,000.

The Portofino Yacht Club is welcoming a lot of new residents this winter.

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7 am: breakfast on the balcony overlooking the South Pointe Marina. My friend has a 1 bed which faces the bay so it has an East view. It looks like this in the morning. Peaceful since everyone still sleeps in South beach at this time…When you buy a condo at the Yacht Club at Portofino it’s like owning a piece of serenity as you escape the hustle and bustle of the city (even if Miami is a city you never feel the stress).

8am:  Let’s take care of our body and go to the gym like everyone in Miami. Of course, the gym has a magnificent view of the marina so it motivates you to run even faster on the trade mill. To relax her muscles she then goes to the sauna right adjacent to the gym. A little 30 min of relaxation before a beach day.

11am: Time for some sun! The great feature about buying at the Yacht Club at Portofino is that you are walking distance to the beach. We have time for a stroll to the beach by the awesome boardwalk which encompasses all the south pointe neighborhood from the marina all the way up to Ocean Drive.

2pm: Let’s grab some lunch at our favorite restaurant Call me Gaby. You could also grab a quick sandwich or salad at Lilikoi or at Pura Vida if you want to stay healthy.

4pm: Let’s enjoy the Yacht Club at Portofino pool which enables us to do some laps to digest are more than fancy lunch.

6pm: The great thing about condo living is that you could spend all day in this building without being bored. You are not buying a condo, you are buying an entire quality of life. At this time we can go to play tennis while watching a cruise ship getting out of the Port of Miami! I would prefer to have a clay court but let’s try to win the game instead of envisioning a better paradise!

7.30 pm: Happy hour at Smith and Wollensky! That’s where you meet all your neighbors from surrounding building such as the Apogee, the Portofino, the Icon….

8.30pm: The South of Fifth neighborhood caters to a wealthy cosmopolitan clientele so you can find a restaurant for every palate. The best ones I would recommend are of course Milos, Texas de Brazil and Prime One Twelve. What I really like about the Yacht Club at Portofino is its location since if you want to dine in other neighborhoods you know that in a second you can hop on to The Mac Arthur causeway to Brickell, Wynwood or the Design District and get there in 15 minutes or less.

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