Introducing The Bath Club Estates in Miami Beach
Looking to build on the success of his first luxury development in Miami Beach called The Bath Club, Don Peebles returns almost nine years later to launch a follow-up development called The Bath Club Estates. Located at 6747 Collins Avenue in Miami Beach, The Bath Club Estates will rise 15 stories and feature only 13 total units, inclusive of a two-story penthouse and two villas. Besides the villas and penthouse, each of the units will have a full-floor, fully-customizable floor plan, private elevator and private plunge pool. Also included with each residence are two fully enclosed garage bays within the parking garage plus two additional bay-area parking spaces. Interior design services will be provided by famed Alexandra Champalimaud, Jennifer Post, Joao Armentano, and Alison Spear.
Contact me for pricing
Amenities at The Bath Club Estates will include:
- poolside and beachside food and beverage service
- two chauffeur-driven Maserati house cars at your service
- fitness facility and spa rooms
- 24-hour concierge
- membership to The Bath Club
- fully-equipped video-conferencing
Skyrise Miami Video and Brochure
All appears to be moving forward with the proposed 1000 feet tall observation tower in Downtown Miami called SkyRise Miami. In fact, the Facebook page for the development is giving away a weekend trip to Miami to help “celebrate the SkyRise Miami Groundbreaking Ceremony, currently set for mid-2014”. Furthermore, their website, which recently launched, now includes a promotional video and brochure, which I have included below. According to their marketing materials, the targeted opening date for SkyRise Miami is mid-2017. The development is projected to cost $400M and will add approximately 7,100 jobs during the development phase and an additional 17,000 jobs once opened. SkyRise Miami will include three observation decks, a restaurant, nightclub, SkyHigh Club, ballroom, meeting room, and interactive exhibit. It will also include three thrill rides: SkyRise Flying Theatre, SkyPlunge Miami, and SkyRise Drop. Be prepared to lose your lunch on those last two rides. SkyRise Miami is expected to attract 3.2 million visitors per year, which would make it the fifth largest attraction in Florida behind Disney World, Universal Orlando, Seaworld, and Busch Gardens. If you aren’t excited about SkyRise Miami, you better check your pulse. It is going to send Miami to heights unknown, literally and figuratively.
Filling Stations Lofts to Open Q1 2014
The opening of Filling Station Lofts is right around the corner. I was told earlier today that the building is expected to open as early as February, but a March opening is more likely. Filling Station Lofts, located catty-corner from Parc Lofts at 1650 North Miami Avenue, was originally developed by The Intrepid Real Estate Company and designed by Bermello, Ajamil & Partners. After the successful sell-out of Parc Lofts, Intrepid hoped to ride the wave with its follow-up launch of Filling Station Lofts. Unit prices ranged from $300,000 to $2.7M. Development began in 2006 but construction was later stalled as a result of the global financial crisis. Intrepid eventually lost the site and partially completed building to foreclosure in January 2012. A little over a year later, in February 2013, the site and partially completed building were acquired by an investment company by the name of NR Investments. Since that time, with $15.5M in financing under their belt, NR Investments has been busy completing the once stalled project.
Under new ownership, however, plans for Filling Station Lofts have changed. Units will no longer be sold individually. Instead, the owners will lease the units and maintain the building as an all-rental development. I expect there to be great interest from prospective tenants to rent at Filling Station Lofts due to the uniqueness of the property. Besides Parc Lofts and Wynwood Lofts, you will not find another true industrial loft development in Miami. The fact that not one single unit is available for rent at Parc Lofts or Wynwood Lofts should serve as evidence that there is pent up demand for this type of product. As mentioned in a previous blog post, there is currently a waiting list to rent at Parc Lofts.
Filling Station Lofts will be comprised of 81 industrial lofts each with 18-foot ceilings. No word yet on what rental prices will be but expect them to be released sometime in January.
Penthouse Sale at Marquis Breaks Record on Per Square Foot Basis
Recently, a record-breaking sale took place at Marquis in Park West Miami. Unit 6101 – a 4 bedroom, 4.5 bath bi-level penthouse encompassing 3,729 interior square feet – sold last Friday for $2,675,000, or $717 per square foot. This made it not only the highest sale to ever take place at Marquis on a per square foot basis, but also the first sale in the building to the eclipse the $700 per square foot threshold. The view – which is amplified by its soaring 20-foot, floor-to-ceiling glass windows – is nothing short of spectacular. The condo, located on the southeast corner of the 61st floor, offers views of the Miami Beach skyline, Downtown Miami, Biscayne Bay and the Atlantic Ocean.
The penthouse was priced extremely well. I know firsthand that there was a high level of interest from buyers. The unit lasted not even two weeks on the market before going under contract and ended up selling $175,000 above asking price.
The unit was purchased decorator-ready directly from the developer in March 2011 for $1,730,000, or $464 per square foot.
It is important to note that this penthouse is not one of the penthouses that includes a rooftop pool. As you may recall, one of those penthouses sold decorator-ready in June 2010 for $4.2M, or $525 per square foot. That was the mammoth penthouse at Marquis with 8,000 interior square feet across four levels. In case you’re wondering, that is the largest penthouse currently in existence in Downtown Miami. That record will be shattered once THE PENTHOUSE at One Thousand Museum is completed. That penthouse will have a mind-blowing 15,000 interior square feet.
Marquis condos for sale
Marquis condos for rent
Parc Lofts Unit 409 – $275,000
Last week, I landed a beautiful listing at Parc Lofts. There is no doubt in my mind that this one is going to sell fast. Not only is it the best priced loft in the building, it is currently the only one priced under $300,000. The unit is an impeccably designed 1 bedroom/1 bath industrial loft with 15-foot ceilings, exposed ductwork and hard wood flooring throughout. It features an open floor plan with 757 interior square feet; upgraded lighting, a spacious closet with built-ins; and upgraded refrigerator, dishwasher and LG front-loading washer and dryer. The kitchen has polished concrete counter tops, white tiled backsplash, Italian cabinetry and stainless steel appliances. The unit includes one assigned parking space located on the ground level. Asking $275,000.
For those unfamiliar, Parc Lofts is a 72-unit industrial loft building located in the Arts District of Miami at 1749 NE Miami Ct, Miami, FL 33132. You won’t find anything like it in Miami. The building is a favorite amongst photographers, musicians and other artistic types in the area. For investors who might have an interest, you will be happy to know that units at Parc Lofts are in high demand from renters. In fact, at this time, not one single unit in the building is available for rent. There is a waiting list of renters looking to get into the building. In my opinion, this unit would rent easily for $1,800 per month unfurnished. Condominium association dues are $419.51 per month. You would be looking at around a 4.4% cap before management fees.
Below you will find more pictures of unit 409 at Parc Lofts. Please contact me if you or someone you know has an interest in learning more about this property. I can be reached on my cell at 786-247-6332 or via email at [email protected].
myBrickell Closings to Begin Next Month
Closings for myBrickell condos are expected to begin next month. The building has been completed but the developer must first wait to receive its TCO from the city before closings can commence. MyBrickell represents the first newly built condo highrise in Brickell to begin closings since the condo boom and bust of yesteryear. The Miami real estate market has been on an absolute tear since preconstruction condo sales for myBrickell were announced in October 2011. In fact, last month marked the 24th straight month in which the median sales price rose for both single family homes and condominiums in Miami.
MyBrickell has 192 total units comprised of studios, 1 and 2 bedroom residences. It is important to note that myBrickell does not have a parking garage. Units begin on the second floor with the lobby and retail space occupying the entire first floor. The 1 and 2 bedroom units will come with valet parking. The studios, however, are out of luck. Those who rent or own a studio will need to rely on their own two feet and public transportation. Or, they can look into obtaining a parking space in a nearby garage (good luck with that one though).
Brickell rental inventory has been thin over the past year. The emergence of new rental units from myBrickell should bring a sigh of relief from renters who have seen rental prices in Brickell climb steadily over the past three-plus years. Despite the valet-only situation, I expect there to be a tremendous amount of interest from both renters and buyers for the one and two bedroom units at myBrickell. It will be interesting, however, to see what happens with the studios. Public transportation has gotten better over the past couple of years so I’m sure people can make do without a car if they really tried. The big question, however, is how many will be willing.
According to the myBrickell brochure, units at myBrickell will be delivered with “designer berber carpeting throughout living, dining and bedrooms”. Kitchens and bathrooms will be delivered with “imported designer tile”. Splash on a coat of paint and hang some window treatments, and these units will be move-in ready. I expect the first residents to move into the building by late January to early February.
If you have an interest in buying or renting a unit at myBrickell, please contact me. I already have one rental listing and should have more in the weeks ahead. Once closings begin, I will contact, on a first-come/first-served basis, those who have expressed an interest in either buying or renting a unit at myBrickell.
If you are a contract holder and are looking to retain the services of a reliable and experienced real estate agent to sell or lease your unit at myBrickell, look no further. I take pride in my work and handle each and every one of my listings with the care and attention that they deserve. If you have any questions, feel free to reach me on my cell at 786-247-6332 or via email at [email protected].
myBrickell floor plans:
Mybrickell floor flans by Lucas Lechuga
One Thousand Museum – The Best Bargain in Town
There isn’t a preconstruction condo development in town that I’m more excited about than One Thousand Museum. It will be more than a building. It will be a work of art. A work of art that I feel has tremendous upside potential. Critics cry foul at the $900-$1,200 per square foot prices. I cry bargain. In my opinion, there isn’t a better bargain in town.
Keep in mind that critics cried foul when prices at Apogee South Beach pushed $1,000 per square foot. They thought it was ungodly. Just four years later, prices there are now over twice that amount. Also keep in mind that units at Apogee South Beach were delivered decorator-ready while units at One Thousand Museum will be delivered move-in ready complete with ultra-luxe design finishes.
Still, naysayers point to the fact that One Thousand Museum is across the bay. They feel that condos on that side of the water won’t see prices push $1,000 per square foot anytime soon. At least, not by 2016 when One Thousand Museum is slated for completion. I’m here to tell you that prices across the causeway have already eclipsed the $1,000 per square foot mark. Epic Residences and Paramount Bay have both had units trade for over $1,000 per square foot. One Thousand Museum will be in an entirely different league. There’s no comparison. It will be unlike anything South Florida has ever seen. And that’s without taking into account the upside potential for the neighborhood as a result of Miami Worldcenter – a 27-acre mixed-use development which will be located directly behind One Thousand Museum. Completion for Miami Worldcenter is estimated for the end of 2016, just as the first residents of One Thousand Museum move into the building.
To learn more about One Thousand Museum, I highly suggest that you watch the sales presentation below. I captured it recently while wearing Google Glass.
One Thousand Museum sales presentation:
A quick look at the One Thousand Museum floor plans:
One Thousand Museum model kitchen:
New Exclusive Listing – 2 Bedroom with 16-foot Ceilings at Icon Brickell III (Viceroy Tower) – $760,000
Brand new listing at Icon Brickell Tower 3 (Viceroy Tower). I likely won’t have the listing up on the MLS until early next week because I first want to have it professionally photographed. Yesterday evening, however, I used Google Glass to record a walk-through of the unit so I could give a few of my clients a special preview. The video is at the bottom of this post.
The 2 bedroom, 2 bath corner unit has 16-foot ceilings, glass tiled floors and a fabulous view of Biscayne Bay and the city. The condo is being sold fully furnished. Tower 3 is the only tower at Icon Brickell that allows short-term rentals. That’s great for investors. The owner does not have the unit in the hotel program but recently started using an outside company to handle the short-term rentals on her behalf. To give you an idea as to the kind of income you can expect during high-season, the unit got rented for $7,000 for three weeks from the end of December to mid-January. The owner gets to keep 80% of it.
Asking price for the condo, including the furniture, is $760,000. Please contact me if you or someone you know has an interest in learning more about this spectacular residence. I can be reached on my cell at 786-247-6332 or via email at [email protected].
Update: I have since had a professional photographer take pictures of the unit. Below you will find a slideshow with those pictures.
Brickell Heights Sales Launch Party
Yesterday night, I attended the Brickell Heights sales launch party. Jorge Perez, Chairman & CEO of The Related Group, and Harvey J. Spevak, President & CEO of Equinox, spoke at the event. I recorded the presentations and uploaded those videos onto YouTube. Judging by the empty seats in the row in front of me, it may not seem like the party was well attended but I assure you that it was. There were lots of people standing along the sides and towards the back of the room. The footage isn’t great due to the bright screen behind the stage but you can hear everything clearly.
After a brief introduction and unveiling of the Brickell Heights promo video, Harvey J. Spevak spoke followed by Jorge Perez. Mr. Spevak discussed the impact that Equinox has had on real estate sales for residential developments in New York City with which his brand has been associated. Equinox will have 35,000 square feet of dedicated space at Brickell Heights. That will make it the largest Equinox club in South Florida. Brickell Heights will also have a 3,000 square foot spin studio separate from Equinox called Soul Cycle. Mr. Spevak noted that Equinox Brickell will have an elite team of personal trainers – some of the best in the world – which will work with members not only at the club but also at a member’s residence if they so desire.
Jorge Perez kept his speech short and sweet but I think he did a terrific job in driving home the message that Brickell Heights is going to be at the center of the action in Miami. Located across the street from Mary Brickell Village and just one block from the upcoming Brickell City Centre, residents of Brickell Heights will have hundreds of shops, restaurants and bars at their doorstep. Mr. Perez also explained how Equinox came into the picture. He envisions a very healthy and active lifestyle for residents of Brickell Heights. He refers to Equinox as the “Rolls Royce of fitness” and, therefore, a perfect match for a luxury condo development such as Brickell Heights.
Below you will find four videos which cover the presentations that were given at last night’s Brickell Heights sales launch event:
Introduction
Brickell Heights promo video
Harvey J. Spevak, President & CEO of Equinox, presents
Jorge Perez, Chairman & CEO of The Related Group, presents
Alex Rodriguez Looks to Flip 3 Bedroom Condo in Miami Beach
After flipping his waterfront spec home in Miami Beach for a $15M profit earlier this year, Alex Rodriguez is back at it again. This time, according to Celebuzz, A-Rod is looking to flip a Miami Beach condo he purchased this past June for $2.1M. Since that time, the property has undergone a complete renovation, with interior design and finishes completed by world renowned designer Briggs Edward Solomon. Rodriguez now has it listed for $3.2M. Residing on the southeast corner of a boutique luxury building called Mei – located at 5875 Collins Avenue in Miami Beach – the 3 bedroom luxury condo in Miami Beach has a wrap-around balcony and offers incredible views of the sand and ocean.
Alex Rodriguez is currently fighting a 211-game suspension from Major League Baseball. The arbitrator, Fredric Horowitz, is expected to render a decision next month. If unsuccessful in over-turning his suspension, don’t be surprised if we see more from “A-Rod the real estate flipper” in the coming year.
Mei Miami Beach unit 1102 listing
