Lourdes Alatriste, real estate expert and member of the exclusive Haute Residence network, recently brokered a property in Palm Island previously owned by rap sensation Birdman, as well as the house bought by reggaeton superstar Ozuna in Coconut Grove, Florida. She joined us for a Q&A to talk about the latest in the market and these high-profile closings.
Photo Credit: Justin Namon
How was the experience of selling at this high level with the pandemic still going?
It was challenging because of not having the freedom we had before, of coming and seeing the property as many times as you wanted. Everybody is more restricted. You have to be very knowledgeable of what buyers want because there's a limited amount of time with them, as they don't want to expose themselves to 20 houses. You have to know what they want from the beginning and guide them correctly, knowing what would be the home to suit them.
Photo Credit: Justin Namon
What were the prices for each?
For Birdman, the closing price was almost $11 million. For Ozuna, close to $5.5 million.
Photo Credit: Justin Namon
How has the real estate market in Miami and Coconut Grove been lately?
Right now, there is a great deal of activity. I believe that many more people will be calling Miami, Home. It's going to be where you want to be. People want space, air, and location. Miami is a young city with great qualities. It is becoming more sophisticated than it used to be in the past, and space is the new luxury. The market in Coconut Grove for single-family homes is beginning to take off. I have sold the last three non-waterfront properties in Coconut Grove priced over $5 million.
Photo Credit: Justin Namon
Why is an apartment better in Miami than somewhere else?
An apartment in Miami still provides space. Everywhere you go, like Old Cutler, Coconut Grove, and Miami Beach, there are places to walk. Miami is not as high-density compared to many other cities.
How has real estate changed?
The rule was "location, location, location." Now it's "location, space." We have seen a much higher demand for houses. People want areas that in a building might not be accessible, as we have seen during this pandemic. Fortunately for us in Miami, you can live in an apartment and (even with social distancing) still go outside, walk, and enjoy the outdoors year-round.
For more on Lourdes Alatriste, visit her Haute Residence profile.
