Nukondo: Capturing the International Buyers Market in Miami

South Florida has and continues to be a hotbed for international buyers, according to the 2017 Survey conducted by the Miami Association of REALTORS. Foreign buyers purchased 15,400 residential units (between August 2016 - July 2017), totaling over $7.2 billion in sales in the Miami-Dade, Broward, Palm Beach, and Martin counties.

A new real estate tech company called Nukondo is attempting to capitalize on this market segment. Their app provides a platform for real estate developers and new construction brokers to stay informed on the latest luxury projects. It standardizes and distributes this information globally, so that buyers and their agents can decide which condominium is most suited for their needs.

After three months of beta-testing, Nukondo has successfully on-boarded 72 of the most prominent projects in Miami such as One Thousand Museum, Missoni Baia, and Turnberry Ocean Club, with over 10,000+ units in inventory. “Our app helps developers expose their projects globally 24/7, allowing them to speed up sales and cut marketing costs,” says founder Jorge Brugo. “Be informed when you’re searching for that special new condominium and make sound buying decisions.”

Nukondo exposes international buyers to the Miami and Florida markets and directs them to a condominium sales team. In Miami, these international buyers are primarily coming from:

1. Argentina: 15%

2. Venezuela: 11%

3. Canada: 11%

4. Colombia: 9%

5. Brazil: 8%

The company will move into its full release once user feedback and content curation have been finalized. The company plans to scale beyond its pilot market of Miami, into other major U.S. and international metropolitan cities.

Article by: Katya Demina & Stephanie Warren

Turnberry Ocean Club Residences Breaks Ground at 40% Sold

Turnberry Ocean Club Residences has officially broken ground in Sunny Isles Beach. Construction was originally planned to begin in the spring of 2016, but a slow in sales has caused delays. The building will break ground at just 40% sold. Turnberry Ocean Club Residences is being developed by Beach Club Acquisitions LLC, an affiliate of Turnberry Associates led by Donald Soffer, Jeffrey Soffer, and Jackie Soffer. The building will be designed by Carlos Zapata and Robert Swedroe. It had originally been reported that 2/3's of the early buyers were from South America and Europe as well as a completion date of 2018. 

Turnberry Ocean Club will be a 649-foot tall tower and residential complex consisting of 154 units at 54 stories. The units range from 2,900 SF to over 10,645 SF. Pricing ranges from $3.9 to $35 million with the higher-end of the scale consists of duplexes that come complete with their own swimming pools, starting at $19.5 million. The building will feature first class amenities including Sunrise and Sunset Infinity-Edge pools, indoor and outdoor fitness centers, a pet retreat, pool bar, salon, restaurants and cocktail lounge. The pools are rooftop to allow for breathtaking views of Sunny Isles to be enjoyed by all residents. The building also features a Sky Club from floors 30 to 32. Situated 300 feet above sea level, the $100 million Sky Club will be a first-of-its-kind offering indoor and outdoor fitness centers, fine dinging, a sunset lounge, hydrotherapy, cabanas with ocean views, a salon, "sky theater" and a "pet retreat." The developers have targeted this building at younger buyers who are looking for a residency rather than older retirees from the Northeast. “At Turnberry, perfection is a point of pride and unless we are proud of it, we will not build it. Our goal was to set the bar really high when it comes to living in a residential development. We wanted to offer our residents with a luxury lifestyle and a place to live unlike any other," said Jeffrey Soffer of Turnberry Associates at the groundbreaking ceremony. Check out our original feature on Turnberry Ocean Club Residences from August 2016. 

Turnberry Ocean Club

Although yet to break ground, the Turnberry Ocean Club in Sunny Isles is starting to become a reality. Designed by Carlos Zapata and Robert Swedroe, Turnberry Ocean Club is eying a 2018 opening. Turnberry's President of Residential Development said that about 2/3's of the early buyers were from South America and Europe.

Turnberry Ocean Club will be a 649-foot tall tower and residential complex consisting of 154 units at 54 stories. The units range from 2,900 SF to over 10,645 SF. Pricing ranges from $4 to $35 million with the higher-end of the scale consists of duplexes that come complete with their own swimming pools, starting at $19.5 million. The building will feature first class amenities including Sunrise and Sunset Infinity-Edge pools, indoor and outdoor fitness centers, a pet retreat, pool bar, salon, restaurants and cocktail lounge. The pools are rooftop to allow for breathtaking views of Sunny Isles to be enjoyed by all residents. The building also features a Sky Club from floors 30 to 32. The developers have targeted this building at younger buyers who are looking for a residency rather than older retirees from the Northeast.