As One Thousand Museum approaches top-off of its 62-story tower – a major milestone in the development process – some may begin to wonder when the project will be delivered. Well…wonder no more! We came across a countdown to completion clock which was recently added to the developer’s website. As of this writing, the timer shows that completion will be in 363 days, putting delivery of the 62-story ultra-lux tower shortly before Christmas 2018. And if all you want for Christmas is a condo at One Thousand Museum, you’re in luck. As of two months ago, 40% of the development’s 83 total units remained, including the $49M two-story penthouse.
Treasure Hunter’s Paradise: The Site Of Pablo Escobar’s Miami Beach Home Is For Sale
If you’re into hunting for treasure and have $16 million to spare, you can buy the site of Pablo Escobar’s former Miami Beach Home!
That’s right, the infamous drug kingpin was known for burying his riches in the yards of his various houses or hiding things in the walls of his estates. Two safes have already been found in the yard at 5860 North Bay Road, although they have not yet been opened and most of the 30,000 square foot lot has yet to be excavated. The lot also has 150 feet of bay frontage with Downtown Miami skyline views, so it is almost certain that unspeakable things were coming and going from the estate on the regular.
Escobar purchased the estate in 1980 for $762,500 and then lost it to a US Government seizure in 1987. After years of falling into disrepair, the CEO of Chicken Kitchen purchased the property for $9.65 million in 2014. The fast food scion is apparently a bad boy in his own right, he was named in the recent release of the Panama Papers, although maintains his innocence.
Not long after purchasing the property, the owner razed the existing structure placed the lot on the market for a whopping $21 million (which he did not get). After several price reductions and marketing re-launches, it now sits on the market for $15.9 million.
According to a recent article on Realtor.com, one of the two safes that was found during the demolition of the home was stolen. The other is still around, but will likely be opened on a televised documentary that is currently being produced. The existing safe weighs between 600 to 700 pounds.
The seller also told the reporter that he had professional treasure hunters take a look at the lot. They reported lots of subterranean “activity,” particularly under the 100 year old banyan tree, so if you would like to go farming for riches and yayo, let’s make a deal! Even if you don’t find anything, you could also build a history-making home of your own on the gorgeous lot.
Casa Tua Cucina in Brickell City Centre is Officially Open
Estates at Acqualina In Sunny Isles Is Under Construction
The super-luxe Estates at Acqualina has officially begun construction, with the existing beach motel being demolished this week. The developers hope to have the site completely cleared by March and released a video of the beginning of the demolition (below).
To honor the occasion, the developers paired up with two local charities to hold a celebratory event and press conference that was attended by Derek Jeter and Jorge Posada. All of the furniture in the existing structures has been donated to the hurricane relief in Puerto Rico and the Florida Keys, or to victims that have relocated to Florida after the storms.
The new development is expected to be completed in 2020 and features a lobby designed by Karl Lagerfeld and a 50,000 square foot amenity area. Prices of remaining inventory range from $4.2 million to $9 million. Penthouses and single-family homes are priced upon request.
Edgewater Penthouse Accepts Only Bitcoin
Have you jumped on the Bitcoin Bandwagon yet? If not, you cannot buy this penthouse!
That’s right, the seller of the Penthouse 2206 at Edgewater’s Platinum Condominium does not want your financed offer, or your cash offer for that matter. They accept ONLY Bitcoin and are asking $33 for the 1 bedroom unit. According to our handy currency conversion tool, this amounts to $542,000 USD.
While I commend the seller for their attempt at profiting from the buzzword of the hour, there are some fundamental flaws in their strategy.
FLAW 1: Alienating Potential Buyers Who Would Pay Cash
Whenever you are offering something for sale, you want that item to be available to as many people as possible. This is the reason Realtors are always saying to remove the clutter and personal items from your home before you put it on the market. In order to achieve maximum profit, you want the potential buyers to be able to see themselves living in the apartment and making it their home (or to see a solid profit in an investment). If you ONLY accept Bitcoin, you alienate all of those who would pay cash or get a mortgage.
FLAW 2: The Price
If you convert the price of $33 Bitcoin to US Dollars, it comes out to $542,000 (as of today). Even the biggest two bedroom in the building isn’t offered for that much! Check here to see the other available apartments in the building. They’re priced nowhere close to this unit. In fact, over the last 6 months the only two 1 bedroom apartments to sell both went for HALF of the asking price at PH 2206. Even the two bedroom apartments that sold traded for more than $100,000 less than this listing.
This is a hyped-up attempt to get away with overpricing an OK apartment.
FLAW 3: These Photos
Ah, these photos. If you’re going to post a listing that is overpriced by double, at least give us some photos that attempt to justify the price. Let’s go through them…
This one is great if you want to see a blurry depiction of what the view was like in 2014. Since then, at least 3 towers have been constructed within the frame.
The gym is nice enough, but the image could be sharper.
Same with the pool.
There are lockers and a sauna.
This photo was also taken in 2014. You can see IconBay in the background, but not the other towers that have been built around.
This photo is so blurry, you can’t even make out the name of the building behind the front desk.
The kitchen is nice enough.
Apparently there is a rule in this apartment that prohibits hanging photos or wall decorations by tenants.
So, there’s a washer/dryer in the apartment. I’m not sure this photo is a testament to how spacious the laundry area is, but at least you know it’s there, right?
\
All-in-all, I think this listing should serve as a huge warning to bitcoin buyers. This seller is clearly trying to pull one over on the market and profit from the hype. BUYER BEWARE!
The City Of Miami Has A Holiday Gift For Us
Happy Holidays, Miamians! The Miami Parking Authority is giving us all the gift of lenient parking until after the New Year by bringing out their “Holiday Parking Courtesy Citation Program” once again.
Here’s how it works… From December 15, 2017 at 12:01am until January 1, 2018 at 11:59pm, those people who are a little late back to their car will receive a special Holiday Courtesy Citation that grants them one free hour of parking. It’s like a Holiday card from the meter maid!
The program only works for those who park in the CITY OF MIAMI spots, and you have to purchase parking either at a single-space meter, Pay by Plate master meter or the Pay by Phone app.
“The Miami Parking Authority Holiday Parking Courtesy Citation Program is one of the many ways our organization supports the local community. This program reflects our appreciation for the support that we receive throughout the year from our customers, while, simultaneously, helping the local business community by making the parking experience easier for their patrons,” said Alejandra Argudin, Chief Operations Officer of the Miami Parking Authority.
In addition to the free hour, if you live within the boundaries of the City of Miami and are registered with the Customer Service department, you receive a 20% discount on the parking fee plus the $.35 convenience fee is waived when you use Pay-By-Phone.
Thank you, Miami Parking Authority!!
Just Listed – Jade at Brickell Bay Unit 1505 – Asking $799,000
Lucas Lechuga of the Miami Condo Investments team at Luxe Living Realty has listed for sale unit 1505 at Jade at Brickell Bay – an immaculately appointed 1 Bedroom, 1.5 Bath condo with 1,135 interior square feet; a large, expansive terrace suitable for outdoor dining and lounging; white marble flooring throughout; motorized shades; custom listing; custom closets; and breathtaking, panoramic views of the bay, ocean, and sunrise from the 15th floor.
The kitchen, which has been opened to maximize the views of the water, comes equipped with cherry wood cabinets, granite countertops, Sub-Zero refrigerator, wine cooler, and cappuccino maker. The bedroom is separated from the living room space by sliding glass panels which can be closed for privacy or open for expanded water views. The lavish master bath includes a Jacuzzi tub, separate glass-enclosed shower, bidet, and dual vanity with marble countertops.
As of this writing, the most recent east-facing 1 bedroom unit at Jade at Brickell Bay sold for $760,000. However, that unit was located four floors lower and without any of the custom upgrades found in unit 1505. Even though four floors may not seem like a big difference, the view from the 15th floor is significantly better than that from the 11th floor due to the pool deck and palm trees being located on the 8th floor. Unit 1505 is priced to sell at $799,000.
The boutique ultra-luxury building will be home to just 100 residences with only 1 or 2 homes per floor. Each home has both a sunrise view over the bay and a sunset view over the horizon. From the upper floors, even the Everglades are visible!
On the 30th floor is a luxurious sky lounge for the residents with each room designed to maximize a different time of day. Each residence also includes a membership to Luxury Attaché, an around-the-clock and around-the-world lifestyle concierge.
Prices range from $1.5 million to $10 million for the residences and up to $14 million for residences in the “Les Grandes Maisons” collection.
Trophy Property Of The Week: The Palazzo Del Sol Lanai Residence On Fisher Island
Although we had a whole series of trophy properties last week for Art Basel 2017, we have another very special property to share today. This one-of-a-kind Lanai Residence at Fisher Island’s Palazzo Del Sol is a true jaw dropper and is perfect for those who want the feel of a single family home but without the maintenance.
The 5,000 square foot ground-level waterfront condo has 4 bedrooms, 4.5 bathrooms and an enormous 5,300 square foot outdoor living space that includes a private negative edge pool overlooking Government Cut and South Beach. The property is turnkey furnished by leading Brazilian firm Artefacto. If four bedrooms are not enough, there is also a “studio” next door that could be included. I use the term “studio” loosely, as this studio has as much space as a two bedroom apartment in Brickell.
Inside the home, you will find 11.5 foot ceilings throughout, Boffi kitchens and master bath, bookended marble and Lualdi doors throughout. The kitchen is decked out with Gaggennau and SubZero appliances and Dornbracht & Duravit fixtures. The whole property is offered for $12 million, although the “studio” is offered separately. Scroll through the photos below for a preview of the glamorous home!
Christmas Is Coming Early For Brickell Fashionistas – Zara Is Ready To Open
We have great news for Brickell’s fashionista crowd! The Zara store in Brickell City Centre is ready to open, just in time for Christmas!
Last week, photos were circulating of work crews rushing to complete the two-story store, and this is what it looked like as of the weekend. It seems the only to-do left is the final approval from the city and we’ll be free to shop!
We are hoping to learn the firm opening date today…
\
