Real Estate Blog

Tags:   South of Fifth Neighborhood, South Beach Condominiums, Bentley Bay, miami beach condos

The Bentley Bay in Miami Beach was originally conceived as one of the premier luxury waterfront condominium buildings in South Beach that was supposed to compete other Miami Beach luxury condominium buildings such as The Continuum on South Beach, The Murano at Portofino, The Portofino Tower, andIcon South Beach. The Bentley Bay's twin towers were to be the luxury gateway at the entrance to South Beach. Located just North of Fifth Street, these twin condominium towers have THE most amazing views of the Downtown Miami skyline, Star Island, Fisher Island, and Biscayne Bay. With only 168 total condominiums, these boutique twin luxury buildings featured Ivana Trump as the official spokesperson during pre-construction sales in 2001. However, the original Developer ran into many construction delays (reportedly due to his constant design / floorplan changes), and construction was ultimately delayed by several years and eventually completed under Bankruptcy court supervision.

By 2005, closings commenced and the North and South Towers continued to have construction issues, with repair work supervised by an experienced Bankruptcy Court Trustee. As the Florida real estate market collapsed, many underwater owners stopped paying their maintenance dues, and many individual condominium owners ended up in Foreclosure and sold their units as "short sales". During the worst of the Miami Beach real estate crisis, the Bentley Bay condominium maintenance delinquency rates rose to almost 50%. However, in the past year, a new and more assertive Board of Directors was elected, and delinquency rates have dropped considerably. Lately, the Bentley Bay's financial reserves and overall management have vastly improved.

As of this writing, these spectacular luxury condominiums are some of last remaining bargains in Miami Beach's luxury condo market. The Bentley Bay Board of Directors has pending plans to upgrade and repair the Common Area Hallways, North and South Tower Lobby's, Gymnasium, and entry pavers and doors.

IF these planned upgrades proceed forward in a timely and efficient manner, I predict that The Bentley Bay will soon fulfill the promise to being one of THE premier luxury condominium buildings in Miami Beach. For savvy cash buyers, who have lately been betting on this fantastic location, overall design & features, this may turn out to be one of the best opportunites in Miami Beach's waterfront Real Estate market.

The Bentley Bay condominiums themselves feature many ultra-luxury features such as:

- 9' Floor to Ceiling Windows and Sliding Glass Doors
- All-Marble Bathrooms with Kohler sinks and Italian Fixtures - see a few sample pictures below
- Marble Countertops and Italian Appliances (North Tower has top of the line GE Stainless Steel Appliances)
- Italian lighting and custom framed Italian Doors
- A unique waved designed building- conceived by Architectonica
- Oversized Glass Balconies (wrap around for corner condos)
- A Boutique Building- just 168 total condos
- Premier location at the entrance to South Beach, facing Biscayne Bay / Star Island Estates
- Riperian Rights Retail Space located on the ground floor (currently empty) that sits across from the 5th & Alton Shopping Center AND soon to be announced new retail mall located between West Avenue and Alton Road.

Bentley Bay Condominium South Beach

Miami Beach Condominium Bentley Bay View


Miami Beach's Bentley Bay Past Eighteen Months of Closed Sales:

Miami Beach's Bentley Bay Eighteen Months Closed Sales
Closed DateADDRESSMiami Beach Condo Building List Price Living Area LP$/SqFt Sold Price
10/15/2009540 WEST AV # 714BENTLEY BAY CONDO $ 459,000 1,058 $ 434 $ 455,000
3/29/2010540 WEST AV # 1413THE BENTLEY BAY $ 360,000 777 $ 463 $ 360,000
1/22/2010540 WEST AV # 2413Bentley Bay $ 447,500 777 $ 576 $ 410,000
10/30/2009540 WEST AV # 812The Bentley Bay North $ 325,000 779 $ 417 $ 319,000
5/28/2010540 WEST AV # 1414The Bentley Bay $ 430,900 1,058 $ 407 $ 430,000
8/27/2010540 WEST AV # 1514Bentley Bay $ 465,000 1,058 $ 440 $ 450,000
4/1/2010540 WEST AV # 2014Bentley Bay $ 489,000 1,058 $ 462 $ 450,000
5/11/2010540 WEST AV # 2414THE BENTLEY BAY CONDO $ 690,000 1,058 $ 652 $ 480,000
12/13/2010540 WEST AV # 412BENTLEY BAY $ 339,000 779 $ 435 $ 320,000
12/21/2010540 WEST AV # 1513THE BENTLEY BAY $ 345,000 777 $ 444 $ 358,000
9/2/2010540 WEST AV # 1411THE BENTLEY BAY CONDO $ 460,350 1,252 $ 368 $ 460,350
8/31/2010540 WEST AV # 1711THE BENTLEY BAY $ 470,000 1,252 $ 375 $ 470,600
10/9/2010540 WEST AV # 2214Bentley Bay $ 485,000 1,058 $ 458 $ 485,000
1/31/2011540 WEST AV # 711THE BENTLEY BAY $ 465,000 1,331 $ 349 $ 465,000
8/11/2010520 WEST AV # 1003BENTLEY BAY $ 369,000 776 $ 476 $ 347,000
3/23/2011520 WEST AV # 1102THE BENTLEY BAY CONDO $ 600,000 1,499 $ 400 $ 500,000
2/8/2011520 WEST AV # 1402Bentley Bay $ 557,000 1,499 $ 372 $ 530,000
1/25/2010520 WEST AV # 2103THE BENTLY BAY $ 549,000 1,175 $ 467 $ 499,005
4/7/2010520 WEST AV # 1004BENTLEY BAY $ 280,000 776 $ 361 $ 280,000
12/21/2009520 WEST AV # 1801Bentley Bay Condo $ 875,000 1,994 $ 439 $ 751,250
6/7/2010520 WEST AV # 1201Bentley Bay Condo $ 870,000 2,158 $ 403 $ 750,000
11/22/2010520 WEST AV # 1702Bentley Bay $ 725,000 1,929 $ 376 $ 725,000
12/29/2010520 WEST AV # 1803THE BENTLEY BAY CONDO $ 399,000 1,175 $ 340 $ 365,000
11/29/2010520 WEST AV # 2001The Bentley Bay $ 750,000 1,994 $ 376 $ 665,000
12/23/2010520 WEST AV # 1204Bentley Bay $ 329,000 776 $ 424 $ 319,000
2/16/2011520 WEST AV # 1005The Bentley Bay $ 450,000 1,210 $ 372 $ 415,000
2/18/2011520 WEST AV # 1103THE BENTLEY BAY CONDO $ 250,000 776 $ 322 $ 250,000
1/19/2010540 WEST AV # 2011THE BENTLEY BAY $ 675,000 1,252 $ 539 $ 500,000
7/28/2010540 WEST AV # 814Bentley Bay $ 400,000 1,058 $ 378 $ 422,500
4/1/2011540 WEST AV # 212THE BENTLEY BAY $ 231,900 777 $ 298 $ 243,000

 
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