Worldwide Properties Announces Sale Of Coveted Corner Residence At Apogee For $6.2 Million

Brazilian investor purchases property in an all-cash deal at the Apogee in Miami Beach, Florida. End Quote

Miami, FL (1888PressRelease) September 06, 2012 - Worldwide Properties, a full-service real estate brokerage specializing in the sales and rentals of luxury condominiums, has announced the successful closing on a 4,154-square-foot residence in Apogee for $6.2 million. The sale equates to almost $1,500-per-square-foot, said Eddy Martinez, Worldwide's broker and CEO.

Worldwide's Alan Araujo represented the Brazilian seller; a Brazilian investor purchased the property in an all-cash deal with the intention of completely remodeling the unit to maximize his investment. The unit was only on the market for 74 days, Martinez said.

"The current market conditions are still incredibly attractive to international buyers, especially in the ultra-luxury price range," Martinez said. "South Florida is still proving to be an extremely desirable location for these investors from overseas, and many of them are paying cash in order to get the best value for their dollars."

Martinez's thoughts echo a recent report from Michael Gerrity, World Property Channel. "In Miami-Dade County, 64 percent of total closed sales in July were all-cash sales, compared to 59 percent in July 2011 and 65 percent the previous month," he said. "Cash sales accounted for 44 percent of single-family and 77 percent of condominium closings. Nearly 90 percent of international buyers in Florida purchase properties all cash. Nationally, all-cash sales decreased to 27 percent in July - from 29 percent in June and 29 percent in July 2011 - reflecting the stronger presence of international buyers in the Miami real estate market."

The corner residence at Apogee, located in the highly desirable "South of Fifth" neighborhood of Miami Beach, features four bedrooms and three-and-a-half baths. The Southeast corner unit boasts views of Fisher Island, Government Cut, the Atlantic Ocean and Miami skyline. The interior features top-of-the-line fixtures and appliances while the exterior highlights 2,400-squre-feet of wrap-around terrace that includes an outdoor "summer" kitchen.

Apogee is located on three acres of waterfront property at the very tip of Miami Beach. Building features include a state-of-the-art fitness center; infinity-edge lap pool; private, climate-controlled two-car garages; private elevators to each unit; and only four residences per floor. Apogee was designed by the award-winning firm Sieger Suarez Architectural Partnership.

Worldwide Properties is a full-service real estate brokerage firm specializing in the sales and rentals of luxury condominiums and single family homes as well as commercial properties. The company also has a property management division, Worldwide Development Services, which offers turnkey solutions for absentee owners holding single condo units and institutional investors holding large real estate portfolios. Founded by J. Eddy Martinez and Roland Ortiz in 2008, Worldwide Properties continuously channels buyers into the South Florida market through its vast international network of contacts and multi-lingual sales team. For more information, visit www.worldwideproperties.com or call (305) 531-3100.

Contacts:
THE MURRY AGENCY
Richard Murry or Shayna Marcos
(305) 531-5720
richard ( @ ) tma-pr dot com
shayna ( @ ) tma-pr dot com

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