BrickellHouse Renderings

November 7, 2011 by Lucas Lechuga

Up until now, interior renderings for BrickellHouse have not been made available. Earlier today, however, I was able to get my hands on a few initial designs created by the award-winning interior design firm Yabu Pushelberg. Yabu Pushelberg has designed the interiors for a number of exceptionally high quality condominium developments in South Florida which include Apogee South Beach, W South Beach and the soon-to-be-opened St. Regis Bal Harbour. That should give you an idea of what to expect from BrickellHouse when it is completed in 2014.

These are hot off the presses. As you can see these were dated November 7, 2011 and were released to the developer earlier today.

BrickellHouse facade

BrickellHouse lobby

BrickellHouse corridor

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42 Comments on "BrickellHouse Renderings"


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Anonymous
gables
4 years 10 months ago

has anybody followed the predictive capabilities of lawrence yun over the past few years? not saying his prediction isn’t wrong. just wondering about his accuracy since the boom…

Anonymous
What Do You Think
4 years 10 months ago
Can we talk about absent landlords? I attended the Shareholder Annual Meeting to participate in the election of the condo assoc. board members, led by an attorney. This was my first experience. There were only handful attending in this mega project and the meeting was over in 5 or 10 min. because there were not enough votes (20%)- needed 60% to hold the election. I am sure that the last year was the same. Meanwhile, there is one board member appointed by the Building owner the Bank and 4 others not elected by us and one thing was clear –… Read more »
Anonymous
Renter Tom (now owner)
4 years 10 months ago

Both of mine have stable boards and are mostly (90%+) owner used (a lot vacation homes used by the owners)…I did my homework. Investor owners don’t really want to get involved except when dues go up or the place really go to pot. Been on two condo boards and even was president a few years…no fun. The key is to have a competent manager. However, AJ likes to be active so maybe you can recruit him to be on your board! LOL Just kidding…only owners can be on the condo boards.

Anonymous
F-35
4 years 10 months ago

Tom, if you bought within 500 miles of Downtown Miami, in a decent building with more than 10 inhabited units and with no rental restrictions, then the probability of you being honest can’t be much higher than zero. Which, of course, for anybody even remotely familiar with your postings, is not surprising. Now, I am perfectly prepared to be proven wrong. Can anybody provide any example of condominium with units in $400k range being fully owner occupied (let’s face it, 90+ percentage means renter-free ednvironment)? Specific info about such miraculous occurence would be extremely appreciated.

Anonymous
AJ
4 years 10 months ago
US Real Estate, A Foreigners Point of View: http://timesofindia.indiatimes.com/nri/us-canada-news/US-real-estate-Smart-diversification-option-for-HNIs/articleshow/10729649.cms or Read The story… In the last few months a number of interesting trends have emerged that point to the rise of the US real estate market as an attractive destination for international investors, and quite significantly wealthy Indian investors. According to a recent survey by the National Association of Realtors USA, for the 12 month period ending March 2011, foreigners purchased close to 4% of homes in the US. Of this, Indian buyers accounted for 7%. Recent data released by the Reserve Bank of India on the pace of overseas… Read more »
Anonymous
What Do You Think
4 years 10 months ago
AJ, what follow after the article are also interesting: BVB (USA) 15 Nov, 2011 12:17 PM May be I know better this subject matter than anybody else for I have been a real estate investor for the last 10 years in southern California. This news item presented a rosy picture. But let me highlight the darker side. Managing RE in US even from outside the state, let alone outside the country does not work. Local investors always buy properties only in the lower income neighborhoods, like the notorious south central Los Angeles, because properties in the upscale neighborhoods yield no… Read more »
Anonymous
Gixxer1000
4 years 10 months ago
What do you think, Those comments are pretty ridiculous. The majority of foreign investors aren’t buying duplex to self manage. At my company we buy buildings and and provide investors with an 8 – 10% cash on cash preferred return and depending on the promote structure up to 80% of the capital gains. The investors are on the LP not the GP side so they aren’t actively involved in the management. This is primairy for value add class B properties. For trophy class A properties those returns can go as low as 4% because as the article points out this… Read more »
Anonymous
AJ
4 years 10 months ago

I agree with gixxer, The article and the comments are a bit unrelated. Being Miami specific, it is all about luxury condos. I do not think any one we know are intested in buying a building in East LA as a rental income generator.

Anonymous
Gixxer1000
4 years 10 months ago
Miami residential sales jump 51 percent in third quarter: report “The sales of single-family homes and condominiums in Miami-Dade County rose by 51 percent in the third quarter, according to a report from the Miami Association of Realtors. It was the 13th consecutive quarter of increasing sales in Miami. The average sales price of single-family homes also rose, jumping 19 percent, and the average sales price of condos jumped by 21 percent. “Strong demand from international buyers is fueling robust sales activity in Miami despite low consumer confidence and high unemployment,” said Jack Levine, chairman of the board of the… Read more »
Anonymous
AJ
4 years 10 months ago
Anonymous
Gixxer1000
4 years 10 months ago

Things are picking up in SIB. Regalia is already getting started.

Anonymous
George
4 years 10 months ago

Gixxer,
Any idea on what the price point will be at Regalia?

Anonymous
Gixxer1000
4 years 10 months ago

I don’t know the revised pricing. The units were originally going to start around $6M and I think they are around 6,000 SF. 1 unit per floor with the exception of a two level penthouse.

Anonymous
Joe
4 years 10 months ago

This car/elevator thing is the dumbest thing I’ve ever seen. What happens when the elevator is inoperable? How many days or weeks without a car?

Also, funny how Gixxer claims no one wants to pay for parking, and yet this thing is being built. I’m guessing a simple parking space costs a hell of a lot less than this. Who in their right mind would buy into this?

Anonymous
Gixxer1000
4 years 10 months ago
The dumbest thing you’ve ever seen??? Really? It seems that everything that happens in this banana republic is the dumbest thing you’ve ever seen. The project is designed by Porsche and Dezer who is in love with Porsche. The guy had an actual Porsche mounted on his wall as a piece of art. But What I do find funny is that you complain about parking but then when a guy comes up with a way to park your car in your unit on the 30th floor you also complain about that. I claimed that people buying $300k units don’t want… Read more »
Anonymous
gables
4 years 10 months ago

Gixxer, in all honesty can you tell me with a straight face that it costs $75k per space to build parking? There are some amenitites (such as parking), where a developer can sell at cost, still make a profit on the remainder of the building, and satisfy consumer and local needs without gouging for profit. The structure is already going up, so unless the parking significantly amplifies foundation or structural design, etc, the extra cost of parking is not the equivalent of putting up an isolated garage for parking only.

Anonymous
Gixxer1000
4 years 10 months ago
I mean to say $75/SF but that is still a little to high. In all actuality a parking space is probably going to cost a developer around $50/SF to build regardless of what’s there. Stand alone or not. That’s maybe $40+ in hard cost (building materials) and $10 in soft cost (Developer fees, financing fees, architectural fees, etc.) You don’t get a discount because you’re already building a building. So were talking about $20k per space. So basically every extra space you build you’re going to have to increase the sales price by $20k just to break even. At MyBrickell… Read more »
Anonymous
Carl
4 years 10 months ago

Talikng about My Brickell,

They have the worst lot ever..building will be cramped in between 500 and BOTR.
Prices are sure to drop in these buildings in the units facing My Brickell.They will be so close you will be able to jump to your neighbor’s place…
Renderings do not seem to take distances in consideration when trying to sell pseudo-luxury..

Anonymous
gables
4 years 10 months ago
gixxer, you do get a discount for already building a building. Foundation and structural costs are already there and absorbed, and in most cases the addition of a few more floors will not push the needed design into a larger more expensive proposition. unless the developer wants that to be the case to argue against the additional work. gixxer, you like to hide behind your marketing generated numbers to defend the developer. i just point out that in the long run those early on decisions made by the developers tend to lower the long term standard of living in an… Read more »
Anonymous
Kramer
4 years 10 months ago

Looks like Downtown is going to beat out Park West and Brickell for the first movie theatre complex in the neighborhood. Large sign just went up announcing a movie theatre complex “Coming Soon” on the MET lot across from Epic and JW Marriott Marquis Hotels.

Anonymous
Gixxer1000
4 years 10 months ago

I think it will be close between this project and the Citicenter project. They are supposed to start on the Whole Foods and Rental units at Met 3 first. Then Met Square (what you’re referring to) is supposed to start 6 months after that.

Anonymous
AJ
4 years 10 months ago

I just drove past Paramount the other day and it looks spectacular! They have finished the landscaping and removed all scaffolding, fencing etc and it looks like a dream. Go Check it out. Does anyone know if the lobby is done yet? I did not go in. I was asked to find out and I am too busy to go back in. Appreciate any info asap.

Anonymous
Gixxer1000
4 years 10 months ago
gables, I’m talking about the minimum per foot square cost to build a garage. If you were to build a stand along garage the cost would be higher due to other fees (overhead, profit, etc.). The price of concrete is the price of concrete. You building 15 extra floors that you otherwise wouldn’t be building. Your engineer charges a percentage of total cost so 3% of $60M is more than 3% of $50M. These cost are real and add up. Again were talking about square foot cost. “profit is made early, and others suffer the consequences later.” I somewhat agree… Read more »
Anonymous
gables
4 years 10 months ago
Gixxer, i know the cost would go up. but not nearly as much as you tend to insinuate. they can be sold, at cost, and not be nearly the deal breaker you try to imply. the garage spaces are just not built. increasing planned parking by 20 percent is not a budget bugaboo. and I did exactly what you indicated-i did not buy a 2BR with a single parking space. it’s not so much greedy developers. its talking out of one side of the mouth about the importance of proper urban design, but really ignoring the long term needs when… Read more »
Anonymous
Gixxer1000
4 years 10 months ago

Study: Young professionals dominate downtown Miami

http://www.bizjournals.com/southflorida/news/2011/11/22/downtown-miami-is-regions.html

“The area’s per capita income grew by 39 percent from 2000, and far exceeded that of the city of Miami and Miami-Dade County. Additionally, more than 65 percent of employed downtown residents work as professionals, with an average household income of $43,992.”

Anonymous
Drew
4 years 10 months ago

If the average household income of these “professionals” is only $43k per yr, a “professional” is defined pretty loosely.

I guess a teller at Banco Industrial De Venezuela is considered a “professional.”

Anonymous
AJ
4 years 9 months ago

Drew, yes he or she is a professional too. While they need to double up with a colleague or someone to rent a 2/2, another professional making 80K can afford to rent an entire 2/2 on his own. I hope you got the concept.

Anonymous
AJ
4 years 9 months ago

Or that same teller would settle for a studio or small one bedroom entirely on their own steam. A studio in Opera is going for $900 to $1100. That is what we are talking about. The article never said downtown is filled with 80K-100K earning young professionals.

Anonymous
gables
4 years 9 months ago

AJ, I hope you get Drew’s point. $43k a year is NOT a professional. doubling up with a roommate to afford rent is NOT a professional. maybe an aspiring recent college graduate, but NOT a professional. as Drew said, they are using a very loose definition for professional.

Anonymous
Drew
4 years 9 months ago

Right. The point is that the term “young professional” has become realtor-speak/marketing buzzword that has little meaning anymore. I guess that as long as you’re not blue-collar and live in Brickell, then you’re a professional. Now physicians, attorneys, architects, engineers or others holding specialized, advanced degrees are demographically lumped in with bank tellers, real estate agents, admin assistants and cashiers. Nice.

Anonymous
AJ
4 years 9 months ago
Paramount Bay condo turned into a design showhouse Elle Decor hosts a showhouse in a Miami penthouse during Art Basel and beyond IF YOU GO What: Design showhouse Where: Paramount Bay, at 2020 N. Bayshore Dr., Miami Hours: 11 a.m. to 6 p.m. Dec. 3-4, Dec. 8-11 and Dec. 15-18. Tickets: $25 at http://www.elledecor.com/showhouse. BY AUDRA D.S. BURCH ABURCH@MIAMIHERALD.COM During Art Basel, a week of spectacular, contemplative art and design, Elle Decor brings its own kind of public installation. As an official satellite of Design Miami — the international marketplace of limited edition furnishings and design forum — the magazine… Read more »
Anonymous
Gixxer1000
4 years 9 months ago
Miami’s 900 Biscayne Bay sells out December 07, 2011 10:30AM 900 Biscayne “Downtown Miami’s 900 Biscayne Bay condominium tower has sold out all of its 525 units, according to the project’s sales agent, Cervera Real Estate. Cervera has served as the project’s exclusive broker since its inception, and sales have totaled more than $320 million. “Working closely together as a team with Terra Group, we were able to complete closings three months before the anticipated target date and achieve a price of more than $400 per square foot,” said founder and chairman Alicia Cervera. The last condo sold was a… Read more »
Anonymous
gables
4 years 9 months ago

Any news on how the NAR’s downward adjustment of RE sales since 2007 affects the Miami trends over the past five years? and their comparison to the previous years leading up to the bubble?

Anonymous
AJ
4 years 9 months ago
We had the annual board meeting this week and the developer said that he has 2 units left to sell out of 470 Units). So it is your last chance to get into the building and buy it directly from the developer with some discount. Impressive considering that he did not sell a single unit at bulk price to anyone. some other notable points from the meeting 1. First 3 years (08,09,10) maintenace $0.42c/sf (lowest in all of Miami Luxury Buildings) 2. 4th year (11) maintenance increased to $0.49c/SF, to add reserves which are now upto 2 Million Dollars, a… Read more »
Anonymous
Gixxer1000
4 years 9 months ago

I’ve heard that the pre sales of MyBrickell are going so well that they are planning another tower on the empty lot in front of Axis. Lucas have you heard anything about this?

Anonymous
4 years 9 months ago

Gixxer,

No I haven’t heard about that. That would be great news! Great location for a building with all that’s happening around Mary Brickell Village.

Anonymous
AJ
4 years 9 months ago
We had the annual board meeting this week and the developer said that he has 2 units left to sell out of 470 Units). So it is your last chance to get into the building and buy it directly from the developer with some discount. Impressive considering that he did not sell a single unit at bulk price to anyone. some other notable points from the meeting 1. First 3 years (08,09,10) maintenace $0.42c/sf (lowest in all of Miami Luxury Buildings) 2. 4th year (11) maintenance increased to $0.49c/SF, to add reserves which are now upto 2 Million Dollars, a… Read more »
Anonymous
What Do You Think
4 years 8 months ago

Hi, AJ, isn’t the developer leaving the site after selling out? If so, how will the developer- or bank-selected board be replaced when there is not enough share holder participation (60% vote) to hold the election of new board? I hope I explained it well. Well, this year is coming to a close.
I wish you all a Happy New Year!

Anonymous
AJ
4 years 8 months ago

Developer kept himself a couple of units as his offices and he is still actively involved in our building affairs.

Anonymous
What Do You Think
4 years 8 months ago

Hi, AJ, that must be it at my project as well. The developer/bank units have sold out but the 5-men board consisting of bank vice-presidents stay on. That’s okay with me as long as they are making sound decisions for the project but I’m sure that they won’t be worrying about us the shareholders. There have been few issues in the project and I am curious as to what your reaction might be about them but I try my best not to be a nuisance here.

Anonymous
AJ
4 years 8 months ago

Same boat here. developer actually ran for the elections just like anybody else and we elected him fair and square as he is actually good for us. The elctions are due again in one year. If he chooses to run, I would still vote for him as he has done a lot of good. Some people do not like the idea but I have no problem with it. He kept the HOA low and ran a tight ship. he trained the other directors well too. So (if) after he leaves, we should still be in good hands.

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