One Thousand Museum’s 53rd Floor Lower Penthouse Offered For $20 Million
The 53rd floor lower penthouse at Zaha Hadid’s iconic tower in Downtown Miami has been unveiled. One of 8 penthouse units in the 62 floor building, Residence 5301 is a full-floor of the building with 5 bedrooms, 7.5 baths, a staff quarters, media room and 2,400 square foot great room that overlooks the Biscayne Bay and Port of Miami.
The apartment will have 4 total balconies totaling 1,112 square feet of outdoor space. The interior living space is over 10,000 feet with 360 degree views from the 53rd floor. This is one of only 3 remaining penthouses available at Zaha Hadid’s last tower and her only residential tower in this hemisphere. The European finishes include doors by Lualdi, lighting by apure and custom kitchens by Poliform. Zaha Hadid-designed door handles for Valli&Valli will complement the sophisticated and contemporary architecture inside the unit. It is being offered for $20.485 million.
One Thousand Museum has 83 total residences with over 30,000 square feet of luxury communal areas designed by Zaha Hadid herself. The amenities include a two story amenity space at the top of the tower, an aquatic center, garden areas, event spaces, a two story health spa, multiple art galleries, a theater and the city’s only private rooftop helipad.
The vertical construction recently surpassed the halfway point and estimated completion is expected in late 2018.
Paramount Miami Worldcenter Secures $285 Million Construction Loan
Despite the fact that the preconstruction market is cooling off and construction loans are notoriously difficult to obtain, the developers of Paramount Miami Worldcenter have secured a massive $285 million construction loan to fund their luxury project.
“Construction financing is definitely deteriorating,” said Aaron Kurlansky, a principal at FM Capital, a commercial real-estate investment firm told the Wall Street Journal. Mr. Kurlansky said that while at the peak, developers could finance up to 75% of the cost to build a project, now that is down to about 50%.
The construction cost of Paramount Miami Worldcenter is said to cost upwards of half a billion dollars, and the developers have contributed a lot of equity plus raised funds through the popular EB-5 Visa program, which offers an investor visa that transfers to a green card for those foreign investors who contribute $500,000 to a project that creates jobs.
According to the developer’s representatives, the residential tower is 60% sold and is continually selling at a rate of around 10 units per month. While this number is not as impressive as the 20 sales per month that they had become accustomed to during previous years, it is far better than many other developers are faring. In some less-popular projects, we have seen months pass with only a handful of sales. Paramount Miami Worldcenter will have 562 units priced at an average of $750/foot.
This construction loan is the second largest in the last two years, according to The Real Deal. The only loan secured that was larger was The Residences at Armani Casa, which was $305 million.
Edgewater’s Elysee Prepares For Groundbreaking
Site work has begun at Elysee, the new super-luxury boutique development in Edgewater. Groundbreaking is scheduled for the second quarter of this year, so just a couple of months away.
In order to prepare, the 124-foot-long seawall must be replaced and initial test pilings must be installed. Construction of the seawall should take approximately eight weeks, according to John Moriarty & Associates of Florida, who is the general contractor that was selected to construct the 52 story tower. Upon completion of the seawall, the construction team will then conduct pile load tests over the next four weeks, allowing them to move on to the production of piles, pouring the concrete foundation, and commencement of the vertical building structure.
With only 100 half-floor and full-floor residences, the 57-story boutique-style tower will include three- to five-bedroom units measuring between 2,300 and 4,000 square feet in size. Unit prices range from $1.3 million to $10 million, and up to $14 million for penthouses.
Elysee marks the second East Edgewater tower for developer Two Roads Development. The firm is slated to deliver its Biscayne Beach project, a 52-story luxury condominium located nearby at 2900 NE 7th Avenue, later this month.
Designed by architect Bernardo Fort-Brescia of Arquitectonica, Elysee’s distinct three-tiered telescoping shape will provide direct, unobstructed 180-degree bay and city views from every residence. The tower’s elegant design concepts are the creation of Paris-based designer Jean-Louis Deniot, one of the world’s preeminent talents in interior design, who has signed on to imagine the building’s common area amenity spaces.
Residences will include floor-to-ceiling glass windows and sliding doors, private elevators and foyers, 10- to 12-foot ceiling heights, designer finishes and fixtures, premium appliances, top-of-the-line Italian cabinetry, as well as two expansive east/west-facing terraces with wide open sunrise and sunset views.
Building amenities will include two resort style pools, a health club featuring a fitness center, yoga studio and spa with sauna, steam and shower facilities and private massage rooms, a children’s playroom and a blow-dry bar. Residents will also have access to an exclusive Owners Sky Lounge which will encompass the tower’s entire 30th floor and feature a Great Room, Grand Salon entertainment area with a full bar and piano lounge, Grand Dining Room with seating for up to 30 guests, wine room, chef’s kitchen, library, private theater and gaming room.
We are excited to see this project take shape!
Here Is The Full Schedule Of IconBrickell’s Pool Renovations
In a letter to unit owners this week, IconBrickell has released the full schedule of their pool deck renovations, which are currently underway. According to the document, it appears everything is going according to schedule. They hope to be finished and cleaned up by December 15, 2017.
The Residences At Miami Beach EDITION Relaunches Marketing On Four Remaining Developer Units
Ian Schrager’s Residences at Miami Beach EDITION have relaunched sales and marketing on the last 4 developer units. The ultra-luxury beachfront development features just 26 custom designed residences by world renowned architect John Pawson. The project was developed out of the former Seville Hotel, which was built in 1955.
The last four residences are:
Apartment 1203 – A 1,517 square foot 2 bedroom with 15 foot ceilings, asking $3 million.
Apartment 1101 – This one has the same layout as 1001, but is on a higher floor so is asking $5.9 million.
Penthouse 1404 – This one is called a Sky Home. It is 3 stories with a private elevator, rooftop terrace, 3,725 interior square feet and 3 bedrooms. The rooftop terrace features ocean and skyline views, a jacuzzi, summer kitchen and outdoor dining area. It is asking $10.9 million.
Before relaunching the project, the last sale was back in March of 2016 when Ian Schrager himself purchased unit 1405 on the resale market for $5.5 million, or $2,700/square foot. Before that sale, the last closing was in September of 2015. Apartment 901 sold for $5.8 million. That is the same layout as apartments 1001 and 1101 that are available currently.
Here are a collection of photos of the project and available units:
Hyde Midtown Is 80% Sold And Has Topped Off
The Related Group, Dezer Development and Moss Construction celebrated their topping off of Hyde Midtown Suites and Residences with a string of parties and construction tours. We were lucky enough to be invited to preview the views and finishes of the project, which is now 80% sold.
The remaining inventory is all in the residences section, the 60 suites have already sold, as did the hotel. The prices start at $435,000 for a 779 square foot 1 bedroom with 1.5 baths and a view of Wynwood. A 1 bedroom with a den is $460,000 and 2 bedrooms start at $540,000. There are four remaining penthouses ranging from $735,000 up to $2,035,000.
During the tour, the hotel, lobby and amenity deck are all very much still construction sites. Some of the apartments and suites already had the kitchens installed, so we were able to preview those. They’re coming out very nice!
When finished, the amenities will include a tennis court, putting green, flow-through infinity edge pool, dog park. The Related Group’s President of the Condo Division, Carlos Rosso, said that the plans for a children’s playground were removed and jokingly announced that they had added a modeling agency. There are already several modeling agencies in Midtown, so I wouldn’t be surprised if that ended up coming true, even if he was joking with the announcement.
They also had celebrations for the 400+ construction workers who contributed to the building and will be having another event for the agents who have sold there. Carlos Rosso said, “This milestone gets us one step closer to delivering the Hyde lifestyle to Midtown Miami. The property offers everything that today’s buyers are looking for. Its unrivaled list of amenities, chic design by David Rockwell and enviable central location all add to what makes this development stand out from the rest.”
Here is a preview of what we saw. The building is on schedule to open in October of this year.
