Prices for Miami Beach luxury condos soar to records

Ultra-luxury condominiums on South Beach are fetching nosebleed prices.

On Tuesday, a penthouse at the Setai Resort at 2001 Collins Avenue closed for $27 million — the highest price ever for a South Florida condominium, according to real estate agents.

“We’re definitely seeing the market turning upward,” said Jeff Miller, of Zilbert International Realty in Miami, who represented the buyer in the sale of the palatial 7,100-square-foot condominium. “We’re seeing buyers come in from all over the globe.”

Just a few weeks ago, Ohio coal mining businessman Wayne Boich Jr. completed the sale of his Icon South Beach penthouse at 450 Alton Road in the uber-trendy South of Fifth neighborhood for just under $21 million.

The 6-bedroom, 7 1/2-bath Icon condo sparked a bidding war that drove the sale $2 million above the listing price — a level that is three times the $7 million Boich paid in July 2007 in the depths of the bust. It was a record price for a Miami Beach bayside condo.

“The luxury market is on fire in South Beach — especially the South of Fifth neighborhood,” said Dora Puig, principal of PuigWerner Real Estate Services, who was the listing broker for the Icon unit. “It’s moving Miami to totally different pricing points.”

The Setai’s record may not reign for long.

Penthouse 2 in the decade-old Continuum South tower at 100 South Pointe Drive in the South of Fifth neighborhood is on the market for $39 million.

That is a record listing price for a Miami-Dade condominium, according to Puig, who also snagged that listing.

Amid the market sizzle, Puig bumped up the asking price late last summer from $35 million.

The penthouse, which has 11,000 square feet of interior space, belongs to Manhattan real estate developer Ian Bruce Eichner, who built the Continuum project at the tip of South Beach and kept the trophy for himself.

The Continuum penthouse, which has 6,000 square feet of deck and a rooftop heated pool, boasts sweeping 13 1/2-foot ceilings that give the feel of a single-family home. The floor-to-ceiling glass walls offer a 360-degree view of the Atlantic Ocean, Biscayne Bay, downtown Miami and Miami Beach from 40 stories up.

“It looks down on Fisher Island, way down,” Puig said with a smile.

The unit has a private interior elevator, of course, and stretches over two indoor levels and two largely exterior levels.

One big plus: It has a gated entrance and sits on an expansive enclave of rolling lawns and gardens adjacent to a city park at the tip of the island.

The unit comes with an additional 874-square-foot guest quarters that would delight most mortals. “The guest unit is intended for professional quarters: the maid, the nanny, the chef, the pilot,” Puig explained.

Also included is a snazzy cabana on the beach.

Eichner has used it as a vacation home and once rented it to Tom Cruise for a couple of months while he was in Miami to film Rock of Ages.

On Thursday, Puig hosted Miami’s power brokers for a look at the Continuum penthouse over champagne and hors d’oeuvres. Next week, she plans to spend three days in New York touting the property to high-end brokers.

Such palatial properties typically are paid for in cash. But what would a monthly payment be?

With a 20 percent down payment of $7.8 million, the buyer would have to finance $31.2 million.

“I don’t know that I’d be able to find anybody willing to go that high on one unit,” warned Steve Schneider, a mortgage broker who is owner and president of Abacus Lending Group in South Miami.

If a buyer could line up a 15-year fixed rate mortgage at 3.5 percent, the monthly payment for principal and interest would be $223,043.35.

“I’d hate to see the tax bill,” said Schneider.

According to Miami-Dade County Property Appraiser records, the 2012 property tax bill on the Continuum penthouse was $264,896.17. That was based on an assessed value of just $9.5 million, less than half what the Property Appraiser listed as the market value of $19.3 million. The tax break came as a result of the state law that caps increases in assessed values on non-homesteaded property at 10 percent a year.

The condo maintenance fee for Eichner’s unit runs $7,624 a month. “I think that’s low for what you get,” said Puig.

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Weather alert: Cold front moving in today; lows dipping into the 50s at night

After the sun goes down Thursday night, open the windows.

Forecasters say South Florida will cool down overnight to the mid-50s. The heat relief will be spiced with a breeze.

According to the National Weather Service, Friday’s daytime temperatures will snap up to the low-70s before cooling down again at night to the low-60s.

“We may have a hard time getting to 70 degrees on Friday,” said David Bernard, chief meteorologist at Miami Herald new partner CBS4. That he said, will be a “shock to the system” for South Floridians basking in winter warmth so far.

Bernard says the cold front will move in Thursday afternoon, preceded by rain.

Through the weekend, highs will be in the high-70s, with lows in the mid-60s.

For the full forecast with updates, click here.

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Missouri Lawmaker Wants Violent Video Games Taxed

A rural Missouri lawmaker wants her state to tax certain video games to help curb gun violence. The Associated Press reports state Rep. Diane Franklin, R-Camdenton, believes a 1 percent sales tax on video games rated teen, mature and adults only would help finance mental health programs aimed at reducing gun violence such as the recent mass shooting at Sandy Hook Elementary School in Newtown, Conn.

What does the legislation propose?

House Bill 157 proposes to create “an excise tax based on the gross receipts or gross proceeds of each sale” of video games rated by the Entertainment Software Rating Board (ESRB). The tax also involves the “storage, use or other consumption” of violent video games in Missouri including “tangible personal property.” This means the tax could extend to memorabilia derived from the games such as toys, clothing and video game accessories.

How does the legislation hope to enhance public safety?

The law hopes to procure “new and additional funding for treatment of mental health conditions associated with exposure to violent video games… .” The revenue from the tax cannot be used to replace existing revenue already in place. Franklin deems the legislation “necessary for the immediate preservation of the public health, welfare, peace and safety.” Therefore, if the legislation passes it will go into effect immediately. There is no mention in the legislation as to how much revenue should be generated, nor does it say whether the sales tax is just on new merchandise as opposed to used games on the secondary market.

Have similar laws been considered before?

A similar proposal was struck down in mid-February in Oklahoma. Democrat William Fourkiller crafted legislation in 2012 that is very similar to Franklin’s idea in Missouri. A subcommittee struck down the bill by a 6-5 margin. Fourkiller, in defending the law , said it wasn’t a “magic bullet” but that Oklahoma had “to start somewhere” to curb childhood violence. Oklahoma also would have taxed ESRB teen, mature and adults only games at a rate of 1 percent.

Does the Missouri law have a chance to pass?

CNN notes a federal appeals court made a ruling in 2003 that video games are free speech protected by the First Amendment. Ironically, it was a federal case stemming from St. Louis County, Mo., that created the precedent for video games as free speech. Senior U.S. District Judge Stephen Limbaugh’s decision was reversed by an appellate panel. The ruling came shortly after the state of Washington banned the sale of certain video games to children under the age of 17. Gamasutra reveals New Mexico also tried, and failed, to pass a similar law in 2008.

What are Franklin’s credentials as they relate to the proposed bill?

Franklin was first elected in 2010 from Camdenton. She is a mother of two sons and served on Camdenton School Board from 1993 to 1999. She sits on the House Appropriations-Education committee. Franklin is a third-generation small business owner and comes from a farming family. Missouri Republicans currently have a veto-proof supermajority in the General Assembly. Camdenton is a small city of around 3,700 people near Lake of the Ozarks in central Missouri.

William Browning is a research librarian specializing in U.S. politics.

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SAG Awards Flashback: Javier Bardem 2008

Javier Bardem made an immediate impact on the film world when he began undertaking roles in wide-release American films; however, he didn't experience the reward of his American film success until undertaking ruthless hit-man "Anton Chigurh" in No Country for Old Men.

The Spanish actor had received plenty of accolades in his native country but had yet to receive any tangible reward for his American films until 2008. He had been nominated for an Oscar and a Golden Globe for his first American film, Before Night Falls, but still had nothing to solidify his touted performances.

VIDEO: Javier Bardem is an 'Uncomfortable' Bond Villain

"It's a great honor of course, and I guess what I did is to take it and say, 'O.K., thank you for that; it's a great honor," he says to ET's former co-host Mary Hart at the 2008 SAG Awards of his many nominations for No Country. "There's not much you can do other than really thank the people that thought that you could be included in [the nominees category]."

Bardem would have plenty more thanking to do that night, as he won not only the Best Supporting Actor Award but also received the Best Cast Award for No Country. A few weeks later, he completed his sweep of the awards circuit with an Oscar for the role.

RELATED: Javier Bardem: I Don't Watch My Performances

"I'm so happy!" Bardem offers in Spanish when prompted by Mrs. Hart to celebrate as he would in his native tongue.

While Bardem won't have the opportunity to make an awards sweep as he did in 2008, the 43-year-old actor has been given another SAG nomination to be thankful this year, this time for his supporting role in Skyfall.

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Bloomberg calls NRA ad 'dumb PR'

New York City Mayor Michael Bloomberg says a new NRA Web video that labels President Barack Obama an "elitist hypocrite" is "dumb PR."

In an appearance Thursday on "CBS This Morning," the mayor said: "You have to be stupid to do that."

The video's narrator asks why Obama is skeptical of putting armed security in schools when his daughters are protected by armed guards in their own school.

The White House has called the NRA ad "repugnant and cowardly."

Bloomberg, who's a strong gun control advocate, said the NRA was itself hypocritical for coming out with a video shooting game app.

After the Newtown, Conn., tragedy, the NRA blamed violent video games and movies, not guns, for contributing to mass shootings.

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Jackson Health System asks Kendall trauma center be shut down

Ratcheting up the stakes in Miami-Dade’s hospital wars, Jackson Health System has filed two petitions with the state demanding a hearing to consider its belief that the license for trauma operations at Kendall Regional Medical Center was granted illegally and should be revoked.

Jackson, which for years has had the county’s only trauma center, has been complaining loudly since the Scott administration decided the state needed more centers. Kendall Regional’s opened in November 2011.

Jackson executives estimate it has been losing about $28 million a year since then because, as one of its trauma doctors quipped, Jackson Memorial’s Ryder Trauma Center tends to get the inner-city gunshot victims who have no insurance while Kendall gets the suburban car accident victims with insurance.

State officials and the HCA hospital chain, which owns Kendall Regional, maintain that Miami-Dade’s size requires more than one trauma center.

Mark McKenney, medical director of the Kendall center, said Wednesday the center has treated 2,500 patients in its first year -- “with mortality rates significantly below the state and national averages.” He said Kendall treats anyone who comes through the door, including plenty of gunshot and stabbing victims who may or may not have insurance.

McKenney said the state decided Miami-Dade needed more trauma centers after a 2005 study showed that only 39 percent of the county’s trauma victims were treated in trauma centers. Those treated in ordinary emergency rooms showed a considerably higher mortality rate, McKenney said.

In Miami-Dade, HCA’s Mercy and Tenet’s Palmetto General have also applied for trauma licenses. Jackson countered by seeking trauma units at its two community hospitals, Jackson North and Jackson South.

In its filings to the Department of Health on Jan. 2, Jackson’s lawyers asked for formal administrative hearings, maintaining North and South were unfairly denied approval in a Dec. 13 Department of Health letter that stated the regulators were rethinking trauma rules on trauma centers after court rulings.

The Jackson petitions, first reported on Tuesday by Jim Saunders of News Service of Florida, noted that an administrative law judge in November 2011 decided that the Department of Health’s trauma certification rule was invalid. After that, the department granted provisional licenses to Kendall Regional and three other hospitals.

On Nov. 30, 2012, the First District Court of Appeal upheld that decision. Seven days later, the department approved the application of Ocala Regional, another HCA facility, and allowed it to open the following day. Gov. Rick Scott is the former chief executive of HCA.

Jackson’s attorneys accused the department of giving these other hospitals a “selective benefit.” They said that a hearing would establish that “the ultimate facts” show that “all provisional licenses issued under the invalid trauma rule need rule should be revoked,” as well as all pending applications, until the department established a legally acceptable rule on trauma centers.

Steve Ecenia, an attorney for HCA, called Jackson’s petition “bizarre” because, instead of seeking approval for its own applications, it was trying to hit back at other hospitals, including Ocala, “hundreds of miles away.” He said the appeals court decision wasn’t final, because there are demands for a rehearing, and the Department of Health’s licensing has been fair.

A Department of Health spokeswoman said Wednesday that the department “had no additional information to provide.” A Jackson spokesman said executives couldn’t comment “because of pending litigation.”

Wayne Brackin, chief operating officer of Baptist Health South Florida, said Baptist is “very worried about this trauma issue,” because in the 1980s, the trauma system fell apart in Miami-Dade with many hospitals losing money on the service, and Baptist doesn’t want the Ryder Trauma Center weakened by competition that could again endanger trauma care in the county.

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Closing arguments on tap today in Miami police sergeant’s drug-corruption trial

A brawling federal trial in which a Miami police sergeant has fought against accusations by fellow officers that he’s corrupt will wrap up Wednesday with closing arguments followed by jury deliberations.

Miami police Sgt. Raul Iglesias, who ran a drug-fighting squad, testified earlier this week that a string of government witnesses — including four detectives from his unit — all lied while accusing him of planting dope on a suspect and stealing drugs and money from street dealers.

Iglesias, 40, former commander of the Crime Suppression Unit, denied again and again that he ever did anything illegal on the job, including asking detectives for “throw-down dope” to plant on the suspect in a downtown Miami parking lot in early 2010.

“Absolutely not,” Iglesias testified, disputing the recent testimony of two detectives. “That’s a ridiculous statement,” he said, calling his former colleagues “liars.’’

Iglesias further testified he never told a third detective that it was OK to pay confidential informants with drugs.

The detective, Roberto Asanza, testified he did just that in May 2010, with Iglesias sitting by his side.

But Iglesias denied the confidential informant was paid with a small baggie of cocaine after a bust in the Allapattah area. Asanza, after pleading guilty to a misdemeanor possession charge, received a probationary sentence last year.

“I have no knowledge that he ever paid [the informant] with drugs,’’ Iglesias testified.

Iglesias, who faces nine counts of conspiracy to possess cocaine, violating suspects’ civil rights, obstruction of justice and making false statements, seemed unflappable as his defense attorney, Rick Diaz, questioned him Monday. Iglesias was relieved of duty with pay in May 2010.

But on cross examination, federal prosecutor Ricardo Del Toro mocked the 18-year veteran officer’s testimony, saying that if he is to be believed, that means five government witnesses lied and he is the only one telling the truth.

“That’s No. 5,” Del Toro declared in astonishment at one point, as Iglesias accused one more witness of lying about his alleged wrongdoing.

Earlier in the trial, CSU detectives Suberto Hernandez and Luis Valdes told jurors that Iglesias asked the pair if they had any “throw-down dope” to plant on a drug suspect after a search of the man during a Jan. 27, 2010, surveillance operation turned up no drugs.

“He looked at myself and Hernandez and he asked for throw-down dope,” said Valdes, an officer for nearly nine years.

“I said, ‘We don’t do that here. Nobody on this team does it.’’’

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iPhone demand said to be ‘robust,’ recent cuts don’t reflect weak demand

Following recent reports from Nikkei and The Wall Street Journal that suggested Apple (AAPL) slashed iPhone 5 component orders in half due to weak demand,  the company’s stock fell significantly and opened below $ 500 for the first time in nearly a year. The reports have been called into question, however, with many believing they do not represent true consumer interest. Shaw Wu of Sterne Agee wrote in a note to investors on Tuesday, per Apple Insider, that his supply chain checks have indicated that demand for the iPhone 5 “remains robust.” The analyst believes the recent reports are a result of improved yield rates and possibly Apple’s recent supplier changes.

[More from BGR: PlayStation 4 and Xbox 720 could cost just $ 350, expected to launch this fall]

Despite the recent concerns, Wu expects Apple to post better-than-expected earnings for the December quarter led by sales of 47.5 million iPhones with a gross margin of 38.7%. Both estimates are above Wall Street’s expectations of between 46 to 47 million iPhones and a 38.3% gross margin.

[More from BGR: HTC One SV review]

Sterne Agee reiterated its Buy rating on shares of Apple with a price target of $ 840.

Wu’s expectations remain bullish compared to other Wall Street analysts. Stuart Jeffrey of Nomura is the most recent analyst to cut his outlook on Apple stock. Nomura reduced the company’s price target to $ 530 from $ 660 Tuesday morning, citing weak demand for the iPhone 5 and increased pressure on Apple’s margins.

This article was originally published on BGR.com

Wireless News Headlines – Yahoo! News

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'Cougar Town' Cast on Switching to TBS for Season 4

After premiering on ABC, Cougar Town has moved to TBS after three seasons, making the switch from network television to cable. With the show now in its fourth season, the cast revealed what they think of the channel switch.

"'Those are some smart people!'" star Courtney Cox emulated her response to TBS picking up the show. "I was just like, 'Great. It's someone who'll promote the show and it'll be something they're proud of.' It just felt great."

The cast echoed Cox's feelings on the move to TBS, citing their new network's heavy promotion of its shows as a big perk. Busy Phillips summed up the cast's perception of the move as a confidence boost to the show.

VIDEO: 'Cougar Town' Cast on the Prowl in Vegas

"Anytime you're given a second chance as a television show, it's awesome," she said. "With TBS, it's been such an awesome opportunity 'cause here's a network that...has this great brand that they're promoting...Of course it's been great to move from a place where we didn't feel like we were getting a lot of attention or promotion or network love to a network that's very enthusiastic."

Phillips, who plays Courtney Cox's character's assistant, "Laurie Keller," maintains that not only does the new network give Cougar Town a new platform but also gives it an opportunity to properly establish its identity.

"People will get a chance to see that it's not a show about...Courtney Cox sleeping with young guys. It's not about cougars; it has nothing to do with cougars," she said. "It's about this amazing, weird, funny group of friends and family that drink a lot of wine and have a lot of silly games that they like to play."

PICS: A Marriage in Pics: Courteney Cox and David Arquette

With the switch from network to cable comes more leeway with censorship, which presents the already racy show with an opportunity to become even racier. Cox, who is also a co-executive producer on the show, said she can already feel the difference.

"I think already our show is the same, yet I feel like it's a little racier," she said. "It's a little more out-and-out funny."

Watch the full video to see how Cox's young daughter, Coco, reacts to hearing her mom recount a naked shoot in front of the entire cast and crew.

Cougar Town airs Tuesdays at 10 p.m. on TBS.

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Mayor: City won't back down on bus union's job demands as thousands of kids, parents left stranded

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Thousands of city kids were left stranded this morning when school-bus drivers and matrons went on strike, leaving parents scrambling to find other ways to get their childen to school.

On Fox-5 TV this morning, the mayor said the city won't back down.

"There's no extra money so we couldn't change our mind and cave if we wanted to," Bloomberg said. "There's only a certain amount of money. I'm not going to move money away from police and worry about safety in the streets to pay bus drivers."

The mayor also said he would not ask the courts to intervene right now.

"I don't think it's time yet to do that. No. 1, it's not clear that all of the unions are striking. We'll find out later this morning. It's not clear this union won't come to its senses and say I just don't want to hurt the kids -- and this is not something that's going to help them. They're going to lose out on their pay from now until June," said the mayor.

The schools chancellor predicted widespread problems.

"It's going to be chaotic today, it's going to be traumatic. This is the first day. It hasn't happened in 33 years," said Walcott.

The devastating job action, called Monday by the union representing most of the city’s yellow bus drivers and matrons, left as many as 152,000 children — including 54,000 special-needs kids — faced with travel nightmares or even getting stuck at home for the duration of the work stoppage.

City officials took to the airwaves yesterday to blast Local 1181 of the Amalgamated Transit Union for leaving the students — many of whom have already suffered through Hurricane Sandy and missed a week of school — in the lurch.

“The union drivers are striking against our children, plain and simple,” Walcott said yesterday.

The city distributed free MetroCards to tens of thousands of students yesterday to help them with the expected transportation chaos. Free monthly cards also will be handed out to parents of kids in second grade and younger today.

But MTA officials acknowledged that the cards might not work at all subway stations until later today, nor on all public bus routes until late tomorrow.

The last time city school-bus drivers went on strike was 34 years ago. It lasted three months.

Today’s strike was sparked over a job-protection clause that the city removed from newly bid-out contracts.

Local 1181 claims that up to 2,500 of its members’ jobs will be at stake if new bus companies are awarded contracts in June without the protective clause.

“We’ve tried every option to avoid a strike, but our members feel that their back is to the wall and they must take a stand on this issue,” said Local 1181 chief Michael Cordiello.

Workers were heard chanting this morning "What do we want? Contracts. When do we want them? Now."

The city disputes the group's job numbers and insists it wasn’t allowed to maintain the protections because they were deemed illegal by the state’s highest court in 2011.

Education officials also said they’re trying to trim costs from their $1.1 billion yellow-busing budget, the highest in the nation.

While at least six small bus companies said they were planning to operate as usual this morning, it wasn’t clear whether union protesters might try to block them.

Asked yesterday whether his union would allow other workers to cross picket lines or enter non-union bus depots, Cordiello would only say, “Our members have been instructed to do nothing that’s illegal.”

His union represents nearly 9,000 drivers, matrons and mechanics — including nearly all the bus matrons who are required to supervise special-ed students.

That appeared to mean that even companies with non-Local 1181 drivers would be prevented from running their special-education routes.

Local 584 of the Teamsters union — which represents roughly 1,000 drivers, matrons and mechanics — said it wouldn’t join the strike because its contract with bus companies doesn’t allow for it.

But its president, Dan Gatto, also said his members wouldn’t cross picket lines.Parents can get updated information on which bus routes are running by clicking the Department of Education link on the city’s nyc.gov Web site or at www.opt-osfns.org/opt/Resources/SchoolRouteStSearch/searchresult.aspx.

yoav.gonen@nypost.com

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