First Look Inside a Unit at Park Grove Club Residences
Photo credit: MLS listing for Park Grove Club Residences Unit 801
As I mentioned in a recent post, closings at Park Grove Club Residences began earlier this month. As expected, sale and rental listings for units in the building are starting to hit the market. Currently, there are two units listed for sale and three listed for rent (although one of the units is listed for sale and rent). Below is the breakdown. The units at Club Residences came with porcelain flooring throughout (including the terraces). Keep in mind, the kitchen finishes that you see above are just one of a few options. Buyers selected their finishes at contract.
For Sale
Unit 2101 – a 3 Bedroom, 2.5 Bathroom residence with 1,390 interior square feet is asking $1,750,000 ($1,259 per square foot)
Unit 1108 – a 2 Bedroom, 2 Bathroom residence with 1,205 interior square feet is asking $1,200,000 ($996 per square foot)
For Rent
Unit 1108 – a 2 Bedroom, 2 Bathroom residence with 1,205 interior square feet is asking $7,500 per month ($6.22 per square foot)
Unit 801 – a 3 Bedroom, 2 Bathroom residence with 1,343 interior square feet is asking $6,900 per month ($5.14 per square foot)
Unit 1102 – a 2 Bedroom, 2 Bathroom residence with 1,117 interior square feet is asking $5,249 per month ($4.70 per square foot)
Below are additional photos of unit 801 (a 3 Bedroom residence that is available for $6,900 per month):
A First Look at Aria on the Bay in Miami’s Edgewater Neighborhood
Last week, the Miami Condo Investments Team was invited to tour Edgewater Miami‘s recently completed, 53-story condo tower Aria on the Bay. You may recall mention of Aria on the Bay from past articles of ours covering preconstruction purchases made by MLB star Giancarlo Stanton, who selected a 5-bedroom penthouse unit with rooftop pool and summer kitchen, and recording artist/music producer Timbaland, who purchased two East-facing 3-bedroom units for a combined indoor and outdoor total area of 6,000 square feet. Aria on the Bay was developed by The Melo Group and designed by Arquitectonica. Closings for the project began just a few weeks ago.
Aria on the Bay is located at 488 NE 18th Street. The location is no doubt one of the building’s most notable features, situated across the street from the 8-acre Margaret Pace Park, which provides public access to greenery, walking trails, a gated dog park, tennis courts, and outdoor fitness equipment. Such a wide-open grassy expanse is a rarity in greater downtown Miami, and most certainly is a highlight for dog owners and families. It also makes for nice Eastern views even on the lower floors of Aria, overlooking the park and then onward to Biscayne Bay.
I’m a girl who loves to make a dramatic entrance, so the Aria grand lobby and entryway staircase were some of my favorite design features in the building. Ascending the staircase, I was greeted by a beautiful chandelier, reminiscent of twinkling string lights attached to a nest of delicate tree branches. Upon joining the rest of the MCI Team, the upper-lobby 24-hour concierge pointed us in the direction of the elevators, which whisked us away to several floors of amenities. Nature was very clearly the central theme connecting all the common areas of the building, as we noticed an earthiness in both textures and hues, a grassy moss-like carpeting, and even chairs resembling open flower blossoms. The delicate tree-branch light fixtures were repeated in the great room and social areas, which were surprisingly spacious and bright. We walked the pool deck, which featured sunrise and sunset pools, a Jacuzzi, and sundeck, all with spectacular views of the marina and Venetian Causeway to the right, open bay to the left, and Miami Beach skyline in the distance.
Along with its expansive sun deck and lounge area, Aria on the Bay amenities include an enormous great room with social areas, pool table, and flatscreens, children’s pool, hot tub overlooking Biscayne Bay, state-of-the-art gym and yoga studio, outdoor fire pit, BBQ, private spa and treatment rooms, game room and library, theatre room, teen lounge, kids’ playroom, and business center.
The 648 residences at Aria on the Bay are comprised of one-, two, and three bedroom floor plans ranging in size from 777 to over 2,364 square feet of living space plus balcony. Approximately half of the units in the building feature private elevator access, and all units feature 9-foot ceilings, water and city views, Italkraft kitchens and bathrooms, and Bosch appliances. We were amazed to see that some units have 11-foot deep balconies!
As for remaining inventory, the building is 90 percent sold, leaving 50 developer units still available. One-bedroom condo pricing starts at $437,900. Two-bedroom condos start at $590,900 (including a penthouse for $891,900), and three-bedroom condos start at $689,900. My personal favorite floor plan was the Model A 3-bedroom + den / 4 bath unit on the southeast corner, featuring private elevator entrance, 2,365 square feet of interior, and 516-610 square feet of balcony, of which there are only 3 options remaining: Unit 1512 asking $1,591,900, Unit 2312 asking $1,631,900, and Unit 3012 asking $1,667,900. All units come finished with 32-inch porcelain tile floors. Along with offering surprisingly affordable prices for brand new construction in greater downtown Miami, Aria on the Bay is also a Fannie Mae approved building, meaning that well-qualified buyers can obtain financing with as little as 5% down up to $453,000.
For more information on available units at Aria on the Bay for sale or for rent, contact [email protected] or 305-428-3860.
One Bay Residences Closings to Begin This Month
The developer of One Bay Residences, G&L Real Estate Development LLC, announced earlier this week that the development received its Temporary Certificate of Occupancy (TCO) from Miami-Dade County and that closings will begin this month.
“We are thrilled to unveil the completed One Bay Residences to our buyers and the community. With more than 35 years of development experience, we are ambitious about the continued growth of Miami’s Design District and could not be more pleased with the end result of One Bay Residences,” said Nicolas Guzman, CEO of Empresas, Guzman & Larrain. “It’s been astounding to see the surrounding transformation of the area, and we are excited to be a part of its new elevated lifestyle offerings.”
One Bay Residences is located at 455 NE 39th Street in Miami’s ever-expanding Design District. The development is comprised of 38 condominium homes, available in single and multi-story layouts, with some featuring large rooftop terraces up to 1,636 square feet. Each residence includes a private, attached garage; 20-foot high ceilings; custom cabinetry by IDEA; expansive quartz countertops; stainless steel appliances; and more.
One Bay Residences has 15 units remaining for sale with prices from $399,000. One of the most attractive aspects about this development is the unusually low condo dues. The monthly dues are just 35 cents per square foot.
Ritz-Carlton Residences Sunny Isles Reaches the 41st Floor
The Ritz-Carlton Sunny Isles Beach Residences has reached the 41st floor and construction continues at a pace of one floor per week. Below is a video showing the construction progress to-date. The 52-story, all-glass tower will include just 212 condo residences. Construction of Ritz-Carlton Sunny Isles Beach is expected to top-off this fall with completion expected next year.
UNA Residences: A Short Film w/ Architects Adrian Smith + Gordon Gill and Developer Vladislav Doronin
Get your popcorn ready! The developer of UNA Residences, OKO Group, has released a short film starring architects Adrian Smith and Gordon Gill along with Chairman and CEO of OKO Group, Vladislav Doronin. The duo architects share their inspiration for the building’s design while Doronin describes the amenities and lifestyle that future residents of UNA will get to enjoy, from its bayfront pool and marina to its world-class spa…and everything in between.
The developer of One Thousand Museum has released a series of drone videos, each taken from the building’s rooftop helipad. The videos tease the jaw-dropping views future residents of 1000 Museum will enjoy as their chopper arrives and departs from the 62-story tower.
Once completed, One Thousand Museum will boast the ONLY residential helipad on the East Coast. The ultra-luxury development will include an on-site travel concierge service from which residents will be able to reserve the helipad and book transport to and from a number of destinations such as the Miami International Airport, nearby Islands, and more. Good riddance to Miami traffic!
One Thousand Museum was designed by legendary architect Zaha Hadid, whose untimely death two years ago caught us all by surprise. With an architectural marvel like 1000 Museum gracing our Miami skyline, the heavens will be left wondering if the “H” atop the building was left to denote “helipad” or Hadid’s last mark on our city.
Last Remaining Developer Unit at Park Grove Club Residence
Of the three towers at Park Grove, Club Residences was the first to sell out of developer inventory. In fact, the last unit at Club Residences sold in March of last year. Buyers who had waited too long on the sidelines missed their opportunity…or did they?
I received word a few days ago that one last developer remains at Park Grove Club Residences. it’s from a contract holder who was unable to close. The unit in question is located on the ninth floor, overlooking Coconut Grove. It’s a 2 Bedroom plus Den, 2 Bathroom residence with 1,306 interior square feet plus two balconies totaling 138 square feet. The unit has 10-foot high ceilings with floor-to-ceiling glass windows, white porcelain flooring throughout, a large walk-in closet in the master bedroom, his and her vanities in the master bathroom, and chef’s kitchen with island and appliances by Wolf and Sub-Zero.
The asking price is $950,000 ($727 per square foot). The maintenance dues for units at Park Grove Club Residences is $1.10 per square foot, which would put the dues for this unit at $1,436.60 per month. The monthly dues include a handful of utilities and services such as cable TV, high-speed Internet, water, sewer, and trash removal, along with use of all of the amenities that Park Grove has to offer. In addition, residents of Club Residences have use of its rooftop pool which is exclusive to its own residents (i.e. residents of One Park Grove and Two Park Grove are unable to use it). For those interested in learning more about the development’s amenities and services, be sure to check out my recent review of Park Grove condominiums complete with photos, video, and floor plans.
Brickell Flatiron Construction Update (Video)
Brickell Flatiron is really getting up there these days! As of today, construction of the 64-story, ultra-luxury tower has reached the 42nd floor. To put that height into perspective, the height of Brickell Flatiron has now eclipsed that of nearby 1100 Millecento. The video below was taken last month and construction of Brickell Flatiron has been moving at a pace of one floor per week.
The developer still has a number of great options still remaining, so if you’re interested in purchasing a condo at Brickell Flatiron, you shouldn’t feel like you’ve missed the boat. Brickell Flatiron is scheduled to be completed by the end of 2019, which I believe will be a brilliant time to deliver a development of this magnitude. I’m predicting that the next upswing for the Miami luxury condo market will begin in October of next year. Brickell Flatiron’s construction crane is the last crane remaining from Brickell’s recent construction cycle.
I took the photo below of Brickell Flatiron on May 22nd from the rooftop of 1100 Millecento.
Icon Brickell Pool Delays Continue (Now they’re saying August)
When will the Icon Brickell pool reopen? At this point, your guess is as good as mine.
Well, December 15th came and went, and the pool remained a construction zone.
In early February 2018, the Icon Brickell Master Association Board of Directors sent a new notice to residents to update them about the large delay to reopen the pool, blaming the delay on “the hurricane and unforeseen construction items”. They also provided a new anticipated opening date of April 1, 2018, barring any significant delays due to weather.
Well, here we are in June. Once again, the reopening date came and went and still no finished pool deck. Earlier today, an agent on the Miami Condo Investments showed a few units at Icon Brickell and was able to snap a few shots of the pool deck along with a short video clip. By the looks of it, there’s quite a ways to go until one can expect the Icon Brickell pool to reopen.
I had been hearing rumblings that the anticipated reopening date had been pushed back to July or August; however, an owner at Icon Brickell notified me today that he has received word from management that the pool isn’t anticipated to reopen until August. I guess we shall see!
If you ask me, they’re planting them Christmas trees around the pool in anticipation of a December 2018 reopening…LOL!
Related Group Pays Off $166M Construction Loan for SLS Lux Brickell Hotel & Residences
Related Group has plenty to celebrate about these days. The development powerhouse announced earlier today that it has paid off its $166.1 million construction loan for SLS Lux Brickell Hotel & Residences, more than a week ahead of its official grand opening, which is slated for June 14th. The loan was issued in September 2016 by TPG Real Estate Finance Trust, the commercial real estate debt platform of TPG Real Estate. In two months since closings began at SLS Lux, Related Group has closed over 400 of the development’s 450 condo residences.
“Paying off the loan is a major milestone for us,” said Ben Gerber, Vice President of Finance for The Related Group. “It speaks to the quality of the product and to the strength of the Miami market.”
“We are thrilled about the completion of our second project with sbe in Brickell,” added Carlos Rosso, President of The Related Group’s Condominium Development Division. “The opening of SLS LUX fulfills our long-time vision of a pedestrian-friendly South Miami Avenue, and buyers are excited to move in and begin living the lifestyle.”
The construction loan for SLS Lux Brickell Hotel & Residences marks the fourth such loan successfully paid off by Related Group over the past 18 months. SLS Lux also marks the fourth project developed by Related Group to open in Brickell along South Miami Avenue (the other three being 1100 Millecento, sister property SLS Brickell Hotel & Residences, and two-tower development Brickell Heights, which is comprised of Brickell Heights East and Brickell Heights West).
