If you’ve been in Downtown Miami during the day or evening over the last few years, you’ve likely seen these folks. The walk around in official orange shirts and make sure everything is ok. They are the Downtown Miami Development Authority’s Ambassadors.
I’ve heard people say before that they thought the Ambassadors are Downtown Miami mall cops, but that’s wrong. They’re here to help. They make sure tourists know where they’re going, help the elderly cross the street, and report infrastructure problems. And now, they roam Brickell as well!
Just yesterday, I was teetering on a curb, pushing a baby stroller with one hand, trying to avoid an annoying puddle that is always on the corner of SW 1st Avenue and SW 13th Street. Even if there has been no rain, the puddle remains. It is the most resilient puddle I’ve ever seen. Anyway, I was in the middle of my puddle-dodging dance when I spotted these guys. It couldn’t have been a better time to stumble upon them. Within minutes, they had reported the puddle to the city for repair, handed me a brochure with handy numbers for everything from illegal parking and broken street lights to trolley information. They also have a Safe Walks program to make sure residents arrive home without issue!
If you see these guys roaming around in Brickell or Downtown, be sure to stop and thank them for keeping us safe and informed!
First Resale At ECHO Brickell Hits The Market At $1,100 Per Foot
instagram.com/echobrickell
After beginning closings last week, the first resale has hit the MLS at ECHO Brickell. A 1,262 square foot two bedroom with two and a half baths has been listed for $1.39 million and the pictures don’t do it justice.
To be honest, I have no idea why anyone would bring a property to market with photos like this, but to be fair it was a holiday weekend. Hopefully they just couldn’t get a photographer scheduled in time… Here’s what we’re working with…
In my opinion, these are among the best photos of the bunch. The marble floors are very pretty and you can see the water view.
The room seems a little crooked here, but you get the idea.
Amazing sunset!
Looking South, down Brickell Avenue.
Each unit includes a summer kitchen.
The kitchen is nice and spacious, and the glossy cabinets are a refreshing change from other buildings that are delivered around the same time. Not that the matte-finish cabinets are bad, just different buyers have different tastes, so it’s nice to have another option.
If you glance to the right, you can catch a peek at the seller… or maybe it’s an agent, or a neighbor, who knows. Why do agents do this????
I see you.
Long hallways to windows that overlook a very near (and hopefully dear) neighbor are not the biggest selling feature, but the floors are nice. I should also add that each unit comes fully finished, with flooring.
The neighbors to the South are a bit more distant, and there’s a water view.
Each apartment also comes with finished closets, which is something most developers don’t do in Miami and a very nice touch.
The bathrooms turned out quite nice! Let’s have a closer look…
I see you.
Now, let’s check out the pool deck. It DOES look pretty relaxing and I’m pretty obsessed with how the pool is indoor/outdoor.
These ropes are designed to pull the illusion of the flying man from the mosaic through the entire pool deck and down the side of the building. Either that or they should have been photoshopped out.
All in all, I feel like the building likely turned out very nice. I can’t wait t see the professional photos! What do you think?
A Review Of The Penthouse At Brickell City Centre’s Reach Tower
If you’ve ever dreamed of living in a palace in the sky, but also dreamed of living on top of an elegant shopping district, but also dreamed of living in a condo that was perfect for entertaining AND perfect for family, then we’ve got just the thing for you. Swire has released the newly finished upper penthouse at Reach Tower above Brickell City Centre and it does not disappoint.
Before we go to the review and photos, here are the specs: Penthouse 4203
4 bedrooms, 3 baths, 2 powder rooms, 2 family rooms, 4 terraces, service quarters, rooftop pool & summer kitchen
Interior Size: 4,346 square feet
Exterior Size: 1,823 square feet
Price: $6,650,000
The Views
Starting with the views since many people in the $5 million-plus price range automatically ask for waterfront options, let me show you why I consider high floors in the city to be a better option…
If you’re in a waterfront condo, the blue water is pretty, but what will you look at after the sun goes down? Nothing. With the high floor city view, you still see the beautiful blue water of the Biscayne Bay AND the Atlantic Ocean, plus the glittering city lights at night. Gorgeous.
Speaking of water views and glittering city lights, how about you enjoy them from your private rooftop pool? Or maybe throw together a little al fresco dinner party in your summer kitchen?
To the West, you can see the city lights at night all the way to the Everglades.
The South view also offers more distant water views as the coastline tapers in through South Brickell, Coconut Grove and Coral Gables.
Now, let’s go inside for some renderings vs real life fun!
The Kitchen/Living Room Layout and Finishes
Ok, so we can see that the renderings were based on a different penthouse, but the finishes look 100% on-point, and LOOK AT THAT SPACE! I can’t even begin to think of the number of different events you could host here. Of course, if you’re a homebody like me, you could also just chill on a different sofa every night of the week and cook some crazy recipes in that kitchen.
I’m not sure what to say about that kitchen. If it were mine, I’d have platters of hors d’oeuvres filling that marble countertop for my friends and every kitchen gadget offered so that I could cook more. Heaven.
The Bathrooms
Here we are again with a rendering that was based off of another penthouse, but with on-point finishes. I love the teak shower floor. It gives a no-slip yet luxurious spa feel. Also, the backlit mirrors are typically demonstrated in sales centers and renderings, but are actually an upgrade that you don’t find out about until later. Not here. Swire delivered what they demonstrated.
The Floor Plan
Swire and Arquitectonica clearly did their homework on versatility with this layout. The way the floor plan is laid out; with the master bedroom in the front and the other bedrooms in the back, separated by the family room, it’s almost like there is a guest house.
I can see it already… a family gathering and the adults want to have adult conversations but the kids want to run crazy and do kid things. The kids can go to the family room and party with the nanny while the adults have wine and peace.
Or, it could be that the owner wants to give their guests an additional sense of privacy…. they have their own living room with a balcony.
Another thing I would like to point out is the amount of storage space! There are closets everywhere you turn AND a walk-in pantry! This is not something that is common in our marketplace.
Finally, I really appreciate the fact that they thought to separate the laundry room from the staff quarters. I always find it a bit oppressive to see the housekeeper’s bed pushed up next to the washing machine. This is 2017, not Downton Abbey. At the same time, the service quarters is not included in the bedroom and bathroom count, as they sometimes are. In this apartment, you get 4 full bedrooms, 3 full baths PLUS a bedroom and bathroom for the nanny/housekeeper who keeps your life straight.
All-in-all, I’m giving this penthouse a rave review. See below for additional photos and let us know if you would like a tour for yourself!
ECHO Brickell Closings Have Begun
instagram.com/echobrickell
Starting today, Brickell is getting a lot more luxurious. Property Markets Group is beginning closings on the newest ultra-luxury building in the greater downtown area, ECHO Brickell. The sleek tower was designed by Carlos Ott and offers the ultimate of luxury lifestyle.
Each residence comes with 9-14 foot ceilings, terraces that are 8 feet deep with summer kitchens, paneled Sub-Zero and Wolf appliances and a Bosch built-in espresso machine. The units will be delivered with marble floors indoors and out and there is a 50,000 saltwater fish tank in the lobby. Security is paramount in the building as well. Rather than fobs, residents are able to activate the elevator via biometric security.
Remaining purchase opportunities range from $1.8 million for a southeast-facing 2 bedroom on the 14th floor up to $6.5 million for a 3 bedroom lower penthouse. The $42 million opulent and dramatic Carlos Ott Penthouse is also still available for $42 million.
Contact us at [email protected] if you would like a tour of the finished project.
Mary Brickell Village Is Getting Big Additions; Including Shake Shack
Big changes are coming to Mary Brickell Village, and those who love casual dining will be delighted! The outdoor shopping center has signed four new casual dining tenants that have either recently opened or beginning their build-out.
1- Sam Fox’s North Italia: Arizona’s super-restauranteur, Sam Fox is expanding to Miami by taking over the space that had been Oceannaire Seafood for AGES. We were sad to see Oceannaire go, but are excited to see North Italia come in. The restaurant chain features a host of different concepts, all fresh, fast and affordable concepts.
2- Shake Shack: Those who love crinkly fries and juicy burgers will be excited to learn that Brickell is getting a Shake Shack! The burger chain is building a new 3,000 square foot stand-alone store on the east side of the plaza, near Baru and Balans. It is expected to open Summer of 2018.
3- Dirt: Those who like to eat clean will also love to see that DIRT has opened in the west plaza of Mary Brickell Village. They are a local chain that specializes in super-fresh vegetarian, vegan, grass-fed, paleo and always organic recipes.
4- Raw Juce: That’s not a type-o. It’s how they spell their name, and if you’re interested in organic cold-pressed juice, they can hook you up.
We are so pleased to see these new establishments come to the area!!
SaltBae Opens His Nusret Restaurant In Brickell TONIGHT
Buckle up, Brickell carnivores! The Miami location of #SaltBae’s restaurant chain opens tonight! As we reported previously, the internet celebrity has taken over the restaurant space at 999 Brickell, just next door to the Plaza and across the street from 1010 Brickell.
The Turkish chef Saltbae rose to fame earlier this year with a viral video of him cooking a perfectly cooked ottoman steak and then dramatically sprinkling salt over it. Rather than letting his 15 minutes fizzle, he parlayed it into a chain of restaurants. Miami will be the first Nusret location in the United States followed by a location in New York.
For those unfamiliar with SaltBae’s style, enjoy this clip.
Want To Be The First To Try Out The Restaurant At Paraiso Beach Club?
Last week, we were excited to bring you a photo preview of Amara at Paraiso, the Michael Schwartz-owned waterfront restaurant at Paraiso Beach Club. This week, we can help you to be the first to try it!
Debuting the new bayfront eatery in proper Miami style (just ahead of condo closings and during Art Basel), Mr. Schwartz is opening for a special pop-up experience December 6-9. Dinner seatings are available from 7-9:30pm each night by reservation only.
Guests at Amara at Paraiso will dine on a special preview menu that includes snacks, cocktails, wine, beer, and four courses that are served family-style. The cost is $189 per person. Below is a peek at the menu, and you can reserve your spot here.
If you would like to move to Paraiso, price ranges include:
Paraiso Bay: SOLD OUT, closings begin January 2018 One Paraiso: Four bedroom penthouse available for $2.85M. Expected completion March/April 2018. GranParaiso: Two bedroom plus den plans from $978k, three bedroom plus den plans from $1.33M, four bedroom plus den plans from $1.67M, penthouses from $2M. Estimated delivery April/May 2018. Paraiso Bayviews: One bedroom plans from $570k, Two bedroom plans from $630k. Estimated delivery March/April 2018.
Paraiso Bay Homes: Prices from $2M, closings begin early 2018.
The Ultimate Market Stat Monday: Downtown Development Authority’s Mid-Year Report
Despite the fact that many media outlets and whispers in the marketplace would leave you to believe that the cards are stacked against us in the Miami condo market, things really aren’t so bad according to the Downtown Development Authority (DDA) Mid-Year 2017 Report. As they state in the report, “2017 has not been the best of times, but it hasn’t been the worst of times either.”
I have included the full 28 page report below, but also a synopsis…
RENTALS
The report separates the rental market into two sub-categories. Conventional rentals are the rental-only buildings that are all managed by one company. 2017 has brought 969 new rental units to the market, leaving just under 3,600 under construction. The condo rentals are considered shadow inventory since there is no way to tell whether a unit would be a rental, resale, or final sale until after delivery.
Amazingly, despite increased inventory, rental prices have increased slightly in conventional rental communities. I had previously been skeptical about the rental community market with so much inventory going up, but our neighborhood is very attractive and people are flocking in.
The segments of the rental market showing the biggest price gains are 1 bedrooms and 3 bedrooms, showing 3.4% and 3.6% growth since last year respectively. Studios are showing a slight decrease in price, but I suspect that this is due to the fact that tenants who would typically take a studio are now taking one bedrooms. Three bedrooms are less plentiful in the neighborhood, so are almost always a good investment opportunity.
PRE-CONSTRUCTION
The market in new developments is also hanging on. The researchers report that 2016 and 2017 YTD have garnered about 50% of the sales experienced in 2015, which experienced 25%-50% less than 2014. It’s undeniable that things have changed, but we will survive and the projects will be sold.
While the market has slowed markedly, projects that are currently under construction and 55%-60% sold do not seem to be in distress, according to the researchers.
One submarket that could flourish in the upcoming 18 months is the smaller-scale boutique project market. According to the report and our experience, these developments tend to capitalize on infill lots between the larger developments and do very well when the larger buildings slow down.
RESALES
Our resales are facing a tremendous amount of inventory with a 6% decline in overall pricing since last year. From July 2016 to June 2017 there were an average of 99 resales sold. That rate needs to be raised by an additional 500-700 listings sold per month to reach pricing equilibrium.
The conclusion of the report is that because so many new construction projects continue to be delivered and fewer projects are announced, we could see some stability in 2018 if nothing crazy happens.
One Thousand Museum Construction Update: Cladding Panels Have Arrived!
For those who are curious about how and when the exoskeleton on Zaha Hadid’s One Thousand Museum will be finished, your wait is over. The massive GRFC (glass fiber reinforced concrete) panels that will cover the exoskeleton have begun to arrive, according to developer Louis Birdman.
The panels are what will give a smooth curvaceous finish to the rough concrete structure, Birdman said in a Facebook post earlier today as he shared photos of the progress. “The process has started on level 8 and they will be working their way around the base of tower and up to level 15, then down the columns to the ground and after that they will start cladding the garage podium on the west, south and east elevations. Then they will finished with the installation of the massive 7 story architectural fins on the east and south elevations.”
It will take nearly 5,000 custom pieces of GFRC to create the signature curves, and they also serve as an additional protection to the building, in the even that Miami is visited by another hurricane. Adding to the challenge, all of the formwork has to be shipped to Miami from the supplier in Dubai.
Here is a quick video that details how GFRC is made. It was also used on the facade of a building in Miami’s Design District.
Call For Offers Issued On Miami Metromall
The owners of Downtown’s Miami Metromall seem eager to unload the 33,000 square foot development site. They have issued a call for offers that expires this Monday. Once the existing structure is demolished, a new tower up to 80 stories could be built.
Located at 1 NE 1st Street, the property offers an attractive address as well as a super attractive location. Looking at the map, you can see that the site is extremely convenient to the Miami Metromover to travel throughout the Downtown area, Government Center to travel throughout the county, All Aboard Florida to travel to Orlando, countless local government offices and the world-renowned Downtown Miami Diamond District. WeWork is also opening a flagship co-working space just steps away in the historic Security Building. The only thing it doesn’t have is water frontage.
How much do you think they will garner from the sale?
