Trump Palace Unit 3604 – Repriced to Sell Quickly

Trump Palace #3604 is back on the market and repriced to sell quickly; now asking $2.1M. Unit 3604 is an impeccably designed, contemporary masterpiece with $800,000 spent in renovations, furniture, and electronics. The luxurious, flow-through residence includes 3 bedrooms, 3.5 bathrooms, 2,167 interior square feet plus 2 spacious balconies, and offers direct, breathtaking views of the Atlantic Ocean and intercoastal waterway. Property features include: private elevator; Sonos sound system; 10-foot high ceilings with floor-to-ceiling windows; and renovated kitchen; master bathroom; and half bathroom. Unlimited valet parking included.

Trump Palace is located at 18101 Collins Avenue in Sunny Isles Beach, Florida. The luxury tower rises 55 stories and has 267 total condo residences. Amenities at Trump Palace include: 1,000 feet of beachfront, temperature-controlled Lagoon pool, two lap pools, Jacuzzis, waterfalls, bar and grill, full-service concierge, two-story spa and fitness center, and men’s and women’s sauna and steam rooms.

For showing requests, please contact Lucas Lechuga at [email protected].

Golden Beach Lot Where Super Contempo Mod House Once Stood & FDR Winter White House Might Have Stood, Sells for $10M

This zany, ultra-contempo Golden Beach house designed by Carlos Zapata was built in 1994 and sold for $12 million in 2014, then mostly torn down, with the land sold just recently for $10 million. Why? Well, Real Deal has a few more details, but it still doesn’t make a whole lot of sense. What’s even stranger is that allegedly the property was the former site of Franklin Delano Roosevelt’s Winter White House, which stood there until 1994. When the Zapata house was on the market and I was running Curbed Miami, back in 2014, Iooked into the FDR claim and found little to no evidence to back it up. As I wrote there: “A little digging turns up little evidence to support this, except that Eleanor Roosevelt rented a house down the street, twice. A little more investigating might be in order.” Considering it’s FDR, you’d think there would be some more documentation.

Check Out Construction at Privé, Which Has Topped Off & Finishes Next Summer

Photos by Sean McCaughan.

On Thursday, we at Miami Condo Investments went to check out the construction progress at Privé at Island Estates. The twin 16-story towers, designed by Sieger Suarez, reached their full heights on the 27th, which the project announced on its Facebook page. Both of them. So, what else to say about these twinsies?

Well, they are on their own private island behind three levels of security. First you enter Williams Island in Aventura, then the gatehouse at Island Estates, which is an island off Williams Island, and  finally, the security of Prive itself. Every unit has private elevator access, which means views to the east and west, and often north and south as well. Being on an island, in the middle of its bay, Alcatraz-style, Prive has really expansive views south to Miami and Miami Beach, east to the ocean, and north to the rest of Aventura. It will also have a marina, two pools, a tennis court, a children’s playroom, a jogging trail, a nature path, a private jetty, and expansive indoor and outdoor public spaces. The indoor public spaces alone will total approximately 70,000 square feet, with huge fitness centers and spas in each tower, social rooms, teen social lounges, a private dining room, a wine room and cigar lounge, a business center, and guest suites.

Privé is scheduled to be completed next summer, and is currently over 60% sold. Units range from 2,621 square feet and up, and are selling for about $850 per square foot to over $1,200. And yes, the sidewalk permit situation is all taken care of.

Downtown’s 80-Story Liquid Lofts Gets Planning Department Approval

An 80-story residential tower on a small plot of land in Downtown Miami has been approved by the City of Miami Planning Department. Situated on SW 1st Street, the tower has planned access to Flagler Street via a passageway connection to the public pocket park behind it. 482 apartment unit building was designed by Charles Sieger of Sieger Suarez reports The Next Miami. The building is called Liquid Lofts. Luckily Sieger appears to have gone with a sea-life motif inspired by the mural next door, and not a a castle look.

Paramount Miami Worldcenter Claims it Will Have the Most Amenities in the World

Paramount Miami Worldcenter, the flagship residential tower of the gigantic Miami Worldcenter megaproject has publicly declared in promotional emails that it will have ‘The Most Amenities in the World.’ It’s a pretty bold statement that demands some scrutiny. Somebody call the Guiness Book of World Records, because we need to fact check that wack.

Here’s the building’s amenity list for comparison. More renderings are below as well.

Minimalist Anti-Beach Condo Directly on the Beach is Listed for $695,000

The broker’s description calls this oceanfront pied-à-terre in the South-of-Fifth neighborhood “the ultimate beach pad” because of its adjacency to the sand and ocean as well as its views. It’s also in the southern neck of South Beach which has the perk of being quieter and more removed from the rest. Listed at $695,000 for a measly 640 square feet it might technically be a studio even though the stats say 1 bedroom (see: Unit 405, at 301 Ocean Drive). Shady stuff like that happens all the time, you know. Meanwhile, according to released photography, the interior has chunky wooden additions surrounded by an almost sterile environment. The ocean is a lot more than a white cube with occasional bits of woofloden furniture floating about. so shouldn’t the family ‘beach house’ be similar?

Downtown’s Half-Buried Limo Sculpture Has Been Removed So They Can Build That Yotel

Photo by Sean McCaughan originally for Curbed Miami.

A Lincoln Town Car-style limousine sticking bow-up out of the dirt in an empty lot in Downtown Miami that looked like the freakish carnage of one hell of a prom night but was actually temporary public art has been removed. The Next Miami was apparently the first to notice. The car will eventually be replaced by a Yotel Hotel that has been planned for the site for at least a year, even though no permits for the Yotel have actually been taken out yet.

This is how the Limo’s artist Nate Page described his work when first installed:

Known for architectural scale interventions that unsettle the functionality of quotidian infrastructure Los Angeles based artist Nate Page will create a dramatic temporary intervention into the urban fabric of Miami’s downtown in response to the burgeoning skyline and rapid pace of development by partially burying a white limousine in the ground with its front fender facing the sky. Engaging ideas of luxury and problematizing notions surrounding the American dream, Page questions notions of “high-end” living in light of Miami’s frenetic boom and mythology of excess. Referencing the iconic public 1974 artwork Cadillac Ranch by the art collaborative Ant Farm, Page utilizes another icon, the limousine to specifically address the context of Miami, a city built upon the lure of tourism and luxury. Situating the partially buried limousine in a vacant plot of prime real estate which will soon be transformed into a high rise condominium, the intervention contributes to expectations of success and failure and challenges viewers to consider their context and surroundings.

Over 30% of Brickell City Centre’s Reach Tower Units Are Already Offered as Rentals

Brickell City Centre’s Reach Tower has been open now for a little over 3 months and over 30% of the apartments are already offered as rentals! According to public records, Swire has been able to close 277 of the contracts on the units already, probably closer to 300 if you count the two-week delay that is common with tax roll searches. Of those closed apartments, 125 have already come back to the market as rental apartments.

What I find to be even more alarming is the fact that of the 125 rental opportunities, only 15 landlords have found a tenant. Fifteen. In 3 months. If we keep up at that pace, landlords will be holding their apartments for 2 years or more. That’s a big pill to swallow if you bought a condo with the expectation of having it produce an income for you.

But what does this mean for Brickell?

Here’s the bottom line. The condos are beautiful. The neighborhood is hot. The condos will rent and tenants will be found… but at what price?

The Downtown Development Authority estimates that 70 new families move to Brickell each month in their 2014 Demographics Report. That doesn’t include people who relocate between buildings in the neighborhood, and there is plenty of that going on. The demand is there and nobody is denying the fact that Brickell City Centre is one of the most anticipated projects of them all. That leaves us at price.

Before the building opened, agents were boasting to our team members that they were representing landlords and planned to offer their 1 bedroom units for $3,500 and 2 bedroom units for $4,500. You see, our team members know their way around the Brickell rental market. Their response was, “You guys have fun with that.”

Fast forward to today. The 15 units that rented were all leased for $2,500-$2,750 for one bedrooms and $3,300-$4,000 for two bedrooms. The one bedrooms offered currently are between $2,500-$3,300 and the two bedrooms offered are between $3,700-$5,700, so some folks are starting to get the memo.

Hopefully the others will realize the true market value, before the Bond on Brickell, SLS Brickell and Rise at Brickell City Centre open, further flooding the market. With this being said, please don’t think it is fire sale time in Brickell. The neighborhood is still very hot, it is just readjusting with the new inventory.

We’ll check back in a few months to see how things are going after the Bond on Brickell and SLS Brickell open.

As of Yesterday, One Unit Had Closed at Centro

Photo by Lucas Lechuga.

As of yesterday, one unit had closed at Newgard Development Group’s Centro, in Downtown Miami. The condo in question is Apartment 2502, a 2-bedroom unit. Residents of Centro have begun moving in, but unsurprisingly, (because that’s just how these things go in Miami) a few months later than planned. Centro includes 352 total units.

STK Rebel Opens at the ME by Melia Hotel This Friday

We’ve been following along with the progress of the new ME by Melia Hotel and STK Rebel restaurant, both of which are opening at the Marquis Residences, a few blocks up Biscayne Boulevard from the Miami Condo Investments offices. The hotel has pretty much opened (although it may technically still be in some kind of soft opening phase) while it’s official the restaurant, STK Rebel, the latest iteration of the STK steakhouse chain, is opening on to the public on Friday. Apparently they’ve also been doing private previews of the menu all week. The decor, meanwhile, is meant to reference New York and the beginning of STK, according to the New Times:

During the exclusive tour, Allison James, regional marketing manager of the brand, explained that each STK has its own identity. This time, the restaurant went back to its New York roots and partnered with iCrave, the design studio behind the Midtown Manhattan edition.