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.

During the construction, there have been looming value and inventory worries. Thankfully, the prices seem to be holding firm, as we saw last week during our market checkup.

IconBrickell Renovation Schedule by Sarah Elles Boggs on Scribd

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 1001 – A 2,756 square foot oceanfront 3 bedroom, asking $5.5 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.

Kitchen Finishes

East View

Northeast View

Southeast View

South View

Amenity Deck

The rooftop palm tree, celebrating a successful top-off

Thank you, Carlos for the tour!