Icon Brickell Tour – Common Areas
November 5, 2008
by: Lucas Lechuga
Yesterday, I had the opportunity to tour Icon Brickell. I’ve decided to write two separate posts to encompass the thorough tour that I was given. This first post will include pictures and my thoughts about the common areas found at Icon Brickell. The second post, which should be published within the next couple of days, will focus on two model units that I was able to see.
The valet area is grand to say the least. The large columns that greet you as you enter the property resemble the stone heads on Easter Island called Moai. $10M was spent on these monstrous columns.
The windows of each lobby has a yellow film on them to distinguish the room from the rest of the building. It felt a bit like a haunted house to me. Above, you see the concierge desk with an over-sized armoire behind it.
The fireplace located in the lobby of Icon Brickell is surrounded by classical furniture and large, frameless Renaissance portraits.
Another shot of the lobby.
Another look at some of the artwork in the lobby of Icon Brickell.
The hallway leading to the mail room and elevators creates a sharp contrast from the lobby.
The mail room at Icon Brickell.
The Icon Brickell Cafe serves food and beverages to the pool area and makes deliveries to all of the residences.
The Icon Brickell pool deck has a Delano-style to it.
Over-sized chessboard located off the Icon Brickell pool deck.
Outdoor dining table with room for 50 people.
Outdoor gas fireplace and furniture located off the pool deck.
The theater room was locked but I was able to a shot of it through the doors. We were told the room will be filled with beds instead of leather recliners.
The Icon Brickell club room.
Another shot of the Icon Brickell club room. Although I did not get a chance to see them, I was told that there is a separate billiards room and poker room.
Above, you’ll find the thermal spa room which is reminiscent of an ancient Roman bath.
Spinning room at Icon Brickell.
The fitness center at Icon Brickell has free weights, machines, cardio equipment with personal TV screens and two boxing bags.
The locker room at Icon Brickell.
The men’s spa. We were told that the men’s and women’s spas are identical.
The steam room. There is also a separate sauna room.
A treatment/massage room in the Men’s spa at Icon Brickell.
Icon Brickell was different to say the least. It is very over-the-top with an Alice in Wonderland type feel and a hint of South Beach flare to it. The 2 acre pool deck was incredible with its lengthy dining room table, large fireplace, over-sized chessboard and Delano-style Infinity-Edge pools. Most will also appreciate the extensive collection of artwork that fill the various rooms throughout Icon Brickell. My favorite room was the thermal spa room with plunge pools and floor-to-ceiling bookcases on each end. Although it may not appeal to some, it is still a sight to see in person. The Icon Brickell Cafe is definitely an amenity that most will appreciate. There will also be two signature restaurants located at Icon Brickell. I did feel, however, that the fitness center was a bit small to accommodate 1700+ units. Overall, the development may not conform to the tastes of some but I think everyone will agree that it is unlike any condo development that we have seen in Miami.
Icon Brickell has a total of 1,783 units in the three towers that comprise the development. Closings are scheduled to begin next week. Our tour guide notified us that 90 percent of the units had been presold. It will be interesting to see how Icon Brickell fares with their closings in the months ahead.
Alice…..I found your Wonderland….
Very interesting…I definitely want to see this in person
I am curious to see this, the same way I’m curious to see a massive car wreck.
The problem is, who wants to live in this? It’s gimmicky and the theme is bound to get tired after a few years. The mnt fees in this building are going to be insane.
Definitely worth a visit, but certainly over-the-top to say the least. Can’t wait to see how closings go in a project of this magnitude.
Epic failure. Really epic. Seriously, these aren’t real pictures, just a photoshopped joke right? This might work as a 50 unit boutique hotel. 1,700 units?
The concierge desk looks like it needs a pumpkin lantern
Icon Brickell really screwed up here. You won’t even be able to find buyers in the $200-$300 per sq ft. range because they will overwhelmingly have very traditional tastes. This project has no floor in the price.
A tasteless hulk.
THX LUCAS!
That was great!
We should all give thanks to Lucas more often, he shows us some great stuff here.
–
Wow, this is so over the top that I may like it!
The gaudiness of it is awesome!
–
Now, what are those HOA fees?!!!
Anyone know?
50 cents per square foot.
what a joke. i’ve been to easter island and it’s an insult to call those columns moais.
Lucas
is the .50 what was originally quoted during preconstruction? regardless, that HOA is bound to go up fast.
If 50 cents holds that isn’t bad. Just depends on % closings, I guess.
–
I don’t know guys, criticism seems harsh.
Yea, definitely seems gaudy, but it’s so over the top that it’s kinda decadent, in the nicest possible way that is, like Berlin in the 1920s.
It’s like on purpose over the top.
–
The Boteros at Four Seasons are more tasteful, but some wouldn’t like those either.
This could be a great place for rehab or a psych ward.. LOL Actually would be neat as a hotel to stay at but as a place to live…..very odd. It will definitely get comments.
Which room does Siegfried and Roy perform in? I’d be afraid someone from the Blue Man Group would chase me down that white hallway with an axe….redrum, redrum, redrum. Does HAL get your mail for you?
I think a CSI miami episode was shot in the pool area. Or there is another place in miami that has a simialr looking pool deck area. I distinctly remember the table with 3 chairs in the middle of the pool. The episode that I am talking about is when there is a solar eclipse and someone gets strangled during the “darkness”. lol
Besides the pool area, the common area is gaudy. I doubt anyone with mainstream taste would find it appealing.
Well that WAS funny Tom.
–
I was thinking more along the lines of having semi-naked girls dressed as Alice moving the chess pieces around while having a lunch where no utensils are allowed on that 50 person table. But to each his own fantasy.
–
Did anyone expect anything else from Jorge’s legacy?
–
This is the ultimate “let them eat cake” as the world enters a depression.
–
jcrimes #3 and JL #4. I completely agree with you.
I mean JL #5
RT #14, absolutely hilarious.
I am posting a link tomorrow to this site in a couple of places I visit.
–
I keep smiling every time I look at the pictures.
I’ve got to share this.
jcrimes,
The maintenance fee of 50 cents was quoted to me yesterday. I agree that the maintenance fee will eventually go up but I don’t agree that it will go up fast. The upkeep of the building will be very expensive but there are 1,783 units to split the bill. It’s not like there’s 500 or 600 units but rather 1,783 units!!! The developer is responsible for paying the maintenance fee on any unclosed units until the building is handed over to the condo association. That likely won’t happen for at least another year.
Speaking of Botero, his work along with Zaha Hadid and some artist Decevero or something (never heard of him) will be on display at Fairchild Tropical Garden this winter…
The Delano is the original location where Starck put lawn furniture in the pool, it’s sexy I gotta say…I think that’s where that CSI episode was filmed. Didn’t the guy get impaled on an ice sculpture in that episode??? I think I saw it…
Philippe Starck is at least unique, I’d say this now qualifies as the hippest place on Brickell, and quite possibly all of downtown, but keep in mind, I don’t get out much:p…
it certainly is overwhelming. i like the thermal spa area, but not a very big fan of the overall decorating scheme. guess i am too simple for their tastes. epic seems to be a comparable building on the horizon, any ideas whether it will be more traditional in decor? these shots have really turned me off to considering a unit in icon. kind of bummed about that, thought it would have potential for a buy…
Knowing Revuelta and his previous designs, Epic will be NOTHING like Icon. You will get solid quality of construction and restrained elegance in his buildings though…
Pictures do not reflect the real scene. One has to see it in person whether to appreciate the artful work or tasteless grandioso. When I visit Miami I’ll make my business to go there. I can foresee the type of people who would like to own a space in the building just to visit. they are going to be people to whom money is not a consideration. They can afford it easily. What makes me think is the # of units. It will be very curious to know how the project will develop.
Does anyone remember a strange film from cc 1960 “last year at marienbad” some sort of mittle europe spa/asylum where cameras panned down long long corridors and the voiceover in french kept repeating the words”sinistre et lugoub-” sp- these pictures of icon called that to mind -an unworldly place..
Re #24+Epic
lala you called it right as I attended 2 ” events” at Epic in late 07 early 08
at the dt sales center and the display model was very classy : only negative to me thought the kitchen-what IS a kitchen in this eat out society ? was out of proportion-too large relative to total sq footage the unit offered..prefer the footage in LR DR not the kitchen
and while the well dressed “salesladies of the evening” tried and tried they did NOT succeed in getting me to buy at the stated $ p which I think was well into the mid 100s per sq ft for a decent view..
A kimpton hotel on the site is a plus..
The columns are horrible…..the Lobby very interesting and over the top….pleasant to look at but I would not want to see it every day as I would tire of it. Icompletely agree with you Kevin….the outdoor space is great. The oversized fieplace and the long table are the best. The chess set is nothing new…it has been done many times.
Thank you Kevin for the preview……greatly appreciated.
Lara, you hit the nail on the head… “I can foresee the type of people who would like to own a space in the building just to visit. they are going to be people to whom money is not a consideration. They can afford it easily. What makes me think is the # of units.”
The problem is, there might be 50 of these people with that taste in this world right now. Not 1700. This was built for the multiple home owner who might use it as an option #3 or #4 that they would spend 3 weeks in a year… New Years and some weekends. There were quite a lot of these paper moguls a couple years back… but they are pretty much gone now. If anything is going to make it, it has to be more meat and potatoes.
“Outdoor dining table with room for 50 people.”
Impractical, try walking around that to sit across from your guest. For 50 people and 1700 units. Where are they hiding the other 15+ tables.
“Outdoor gas fireplace and furniture located off the pool deck.”
Great for the 30 people that can get around it to enjoy it.
—
The only thing that is appropriately sized are the swimming pools. It’s obvious by the relatively small scale of the amenities and the eccentric design that the goal was to have 1700+ owners that spent occasional weekends in their units over the course of a year. That market is poof!
1. Ghastly
2. Ghostly
3. Ghoulish
4. Freaky
5. Terrifying
6. Nightmarish
7. Horror Movie
8. Psych Ward
9. Ring I
10. Whore House
11. Vegas Boudoir
12. Headache
13. Over the top
14. Cheap
15. Cheesy
16. Impractical
17. Confusing
18. Claustrophobic
19. Overwhelming
20. Philippe Starck = Marcel Wanders = Lunatic
Having a degree in architecture as I look at some of the common areas they seemed to be a mix of various styles that in my opinion just doesn’t really work well. Awkward common areas and somewhat out of proportion furniture and rooms all over. It’s like the designer was still in the process mode of design and not yet finished what was started but yet it still got turned in, incomplete into a real life project of what we see today. I kind of like it.
But keep in mind that this is what was asked to be produced.
It’s almost like an adult fantasy playland condo. Alice in Wonderland like some of you have said is maybe best to describe what I’ve seen in these photos.
Can’t wait to see the inside of the units.
AJ
re: post #30
–
Yes, but now tell us what you really think.
–
–
–
Muir.
31 posts and everybody’s in agreement.
I find this strange.
Kevin said: “and somewhat out of proportion furniture”
– Ya think? Now what makes you say that? Would it be the 10 ft. high paintings on the floor, the 12 high fireplace mantel, the giant front desk, or the huge armoire? Yep that must be it. LOL
– What would really be funny is if you have a friend that has drank too much and is asleep, place him in one of the rooms and watch him freak out when he wakes up!
Unfortunately for Mr. Perez this will prove to be his folly. This was planned in a different economic cycle and obviously will not hold up in today’s economy. The shear enormity of the project dooms it to fail.Three years ago it was very easy to attract investors who never had any intention of moving here but preferred to make a quick killing on a Jorge project,take the money and run. Today however Iam afraid these 90% who allegedly bought into the building have no intention of coming to the party.
The HOA feees alone will run much higher than the original projection due to the enormous upkeep of all these useless amenities geared solely to impress the investor.
I predict this will be an enormous failure and only affirms how ridiculous the RE market has become in S. Fla.
Way too over the top. I prefer simple elegance over this gaudy attempt at making Icon stand out from all the other product offerings on the market. One thing is for sure, it will defnitely stir debate and be a catalyst for manay a conversation.
As the saying goes, “there is no such thing as bad publicity”. ( Except in the worst real-estate market downturn in hostory.)
-Seems like the overwhelming majority of comments so far are negative
-Could a project of this size bankrupt the Related Group?
-Lucas, how does this project compare in quality/finishes to other buildings in Miami? (Where would it go in your condo rankings list?)
-Although gaudy common areas, the pool area/restuarants will probably become the hippest places in town to hang out
AZ88
to answer one of your queries…this won’t bankrupt related. although i’m sure they’d like to have the $10m for those columns back. jesus, how the hell does easter island mesh with an 18th century theme and a south beach white wall chic theme? whoever engineered this concept must have adult ADD. tony montana would be jealous if he saw this place.
A modern day replica of The Mutiny in Coconut Grove circa 1978. And nobody no matter the line has a great water view.
@Muir:
Are you typing posts out with a teletype?
Whats with all of the “-” line dividers?
“L’année dernière à Marienbad” —great call!
However, for “the Marienbad effect” to work, guests must be dapper to match the surroundings. Alas, the people moving in and wearing sweatpants to the lobby are unlikely to meet that standard, thereby ruining the whole atmosphere.
I remember a post here a long time ago that was critizing the architecture of all the recent buildings in Miami saying that they are too boring, square and white. The post cited all the great buidlings that created the Brickell area in the 70’s and 80’s and that we had lost that edge in the newer buildings.
Well, no one can say that about this building. It definitely sets a tone. I bet those buildings in the 70’s received the same negative feedback at that time, but aren’t we all glad that they exist today? I mean, do we really want another square white building?
All great cities need architectural variety here and this building definitely accomplishes that.
The only problem is that RE projects should make money! Related is not a non-profit organization. Perez spoke about his legacy in Miami with all he has done. I have to agree wit him, but a great legacy doesn’t really go hand in hand with losing TONS of money!
Now… that being said, economically, I agree with everyone that this project will be a major bust for several reasons:
1) 1,700+ units coming online in this market is a major challenge. Period. You can almost bet that no more than 20% of the presales will close (if that) and that means the developer will have 1,400 units to sell which at today’s selling pace, won’t happen for a LONG time. My guess is that the bank will take over at some point which will hurt the HOA a lot.
2) Although I think the architecture is a definite plus, it is not the best fit for 1,700 units. This would be better fitted for a condo hotel or maybe a high end building with 400-500 units at most!
3) Common areas, although big and great, are not even close to being the right size for 1,700 units. I bet that if you did a size calculation and divided it by the number of units you would get half the average size of the newer buildings in the area. For example, the gym is TINY. Can you imagine that gym at 6PM on a weekday?
My only positive thing to say about this deal economically is that the “different and over the top” aspect might be a plus:
If you wanted to invest in a building in Miami (at the right price, of course), would you want to own in a “regular” building where your competition is every other building in the area? Or would you want to live in a different building that creates its own mini market?
Hugo P said: “1) 1,700+ units coming online in this market is a major challenge. Period. You can almost bet that no more than 20% of the presales will close (if that) and that means the developer will have 1,400 units to sell which at today’s selling pace, won’t happen for a LONG time. My guess is that the bank will take over at some point which will hurt the HOA a lot.”
ICON is the “Titanic” of Brickell condo construction. One little “fun fact”: I understand Lehman has a $75,000,000 to $100,000,000 slice of the construction loan on ICON. I am no bankruptcy expert but……………???
un-related
if i was a deep pocketed vulture fund (with some developer experience) and that loan was available for sale, i’d pick it up in a hearbeat. i presume it’s a mezz loan or perhaps, a first loss position in the senior piece (lehman was always chasing yield). chances are the recourse provisions are tight and allow you take over the equity in the project upon an EOD. not to mention, the senior slice would be outright terrified to do anything to upset this project.
Well, it will probably be renamed as ICAN’T during this real estate bust. Clearly this thing was conceived during the boom to be over the top to attract as much attention and excitement as possible to lure in the emotional investment buyer and build a sense of urgency…don’t miss out on this one of kind building (as if other buildings could buy a few large pictures and oversized furniture too). Overwhelm them with the lobby and common areas that make it incredible….BUT maximize profits by having 1700 units sitting on top of all this. Someone beat me to the punch that the common areas are probably pretty small for the number of units….it may look deceivingly big compared to smaller buildings, but on a per unit calc probably inadequate….even that huge desk will be too small….fee fi fo fum. The urgency in this market simply does not exist and that was the marketing ploy for the emotional investment buyer during the boom. I can see it now, buy now we only have 1,699 units left!!! Somehow they will have to artificially release inventory on the market in small chunks. Anyone that has done real estate development will tell you….it must be done in phases to limit choice and to create the sense of urgency to sign the contract now instead of waiting. That is why I had said for years I would never do a large multiunit building (say of more than 12) since the problem is you have to build the entire building for all the units at once in order to sell just one and the resulting carrying costs could kill you if things slowed… That is where the pre-con sales come in as key. The decor is probably out of place in this market as frugality makes a comeback but the real risk, possibly fatal, is the sheer number of units that must be sold. Will be interesting to watch and sure am glad I am not stuck with one of this white elephant……by the way, maybe the do have actual elephants hidden somewhere? Try 1700 of them.
Wow, what an ostentatious piece of trash. They could film the sequel to Beettle Juice at this place and they wouldn’t even need a set designer.
This could very well become the poster child of the real estate bust for Miami. In any investment bubble, after it has popped, people look back at some of the wild things money was spent on and say “what were they thinking” yet at the time, during the mania, it seemed to make perfect sense and was probably encouraged in a self-reinforcing feedback loop. Will ICAN’T become the pets.com of the condo market?
This building will most likely turn into a huge rental building. The developer can rent the space for television and movies and recoup massive amounts of money. Once it’s turned over to the condo board in three years they will have to spend a minimum of $300,000 redesigning it.
” If you wanted to invest in a building in Miami (at the right price, of course), would you want to own in a “regular” building where your competition is every other building in the area? Or would you want to live in a different building that creates its own mini market?”
Honestly, if I was going to invest in a building (i.e., put capital at work with the expectation of revenue/gain on that capital from rent or future sale), fungibility is much more desirable than unique-ness. I would rather compete with thousands of other units for the corresponding larger swath of potential consumer than to engage in a the hit-or-miss philosophy of landing a smaller pool of candidates who happen to have the eclectic tastes that such a design-scheme would appeal to. In other words, I’d expect an easier time reselling a black BMW rather than a pumpkin-orange Maybach… and by the way: 1700 units? Ain’t nothing unique about that…
are you sure those photos aren’t from Liberace’s yard sale?
Probably too Cynical – I bet there are giant price tags on the back….. LOL Where is the giant piano?
Lucas
When is the premiere party?
also like to add just how refreshing it is contributors are no longer bashing each other and their choice of presidential candidates and we can all get back to the business of commenting on this waking nightmare that is Miami condo real estate.
The next category 3 storm that roars across South Florida is going to scatter Liberace’s oversized patio furniture all over downtown Miami.
PTC
You suck more than Icon !!!
Sorry, I didn’t want you to think that a sense of civility was taking over here.
RT
There’s no doubt it will be the poster child of the boom. As someone pointed out, in a few years, the unit holders will take over and completely redo the design of this place, or at a minimum, pawn off all the cheesy artwork and furniture. seriously, having a shot of catherine de’medici (sic?) in my mailroom/steamroom/locker room/lobby is so 17th century (or is it 16th…who cares).
Probably too Cynical – I agree, I’m glad that no one is posting about how the forward looking stock markets are having an historic post election crash instead of a bounce. I wouldn’t want anyone to point out the massive losses in wealth….since the election over $4 Trillion in lost U.S. stock market losses, Russian market was halted, Asia tumbles, and Europe tanked. We won’t mention blaming the election of a socialist democrat to the White House on the economic outlook over the next few years is looking bleaker as investors are voting with their real dollars. But I will point out, not to be partisan, that continued loss of stock market wealth will only cause less demand for expensive second vacation homes and primary residences. As I have posted, increasing taxes now is the final straw to kill the real estate market especially in the big bubble markets. Cash will be continue to be king for those few buyers that are able and willing to buy. LOL
Maybe these are pictures from a crime scene gone bad…..they already removed the one painting from the frame and had to take off before taking the rest that they set down earlier…… I do like the pool and pool deck though.
Well, after further in depth review, and if anyone really cares or not about my opinion, I have decided that unless a new condo, on the beach, with direct ocean views in a desirable location in a stable building comes up at $250/s.f. or below (short sale maybe), there is no reason to consider buying between now and next hurricane season. The prognosis over the next 9 months and probably through all of 2009 is negative and renting will continue to be the smart choice for 90% of the people out there. The macro trends are set and even under the most optimistic scenarios under the new fed govt things will only get substantially worse. Wake me up if they go to $200/s.f. or the Dow hits 5,000 since it is time for the beach.
Anyone know if someone who boutht at Infinity is entitled to getting 5% back? I have a friend in that situation and he is ready to walk
If so, what is the process? Any recommended attorneys?
Thanks
Fairkim said it the best “I’d expect an easier time reselling a black BMW rather than a pumpkin-orange Maybach”
—-
Expensive and ecelctic can only work in a mania. Icon Brickell is doomed. On a related note, hopefully Starck (and Hirst) will no longer have idiots leveraged on credit to sell their wares to… these gusy have gotten absurd
RT beat me to it.
Though I beat him to the beach, just took an 8 mile walk on the sand.
The real issue is not the aesthetics of the building, or even the glut of condos, it is the economy.
The chances of a worldwide recession are high (if not imminent)
Add 2 wars, a trillion+ dollar deficit, unknown losses yet to be realized on CDSs MBSs massive loses worldwide on derivatives and entire countries bankrupt.
If you consider all this, the real question becomes does it really matter that much what size the lobby?
–
The little thingy “-” above, was just for Burt.
do they take plan ocho ?
Looks like 1929 is here again–maket in disaster while the Icon makes ready in oppulant style suitable for the Vanderbilts and Duponts–anyone for croquet.
I wonder what staff will get the unenviable job of wiping off the long, outdoor table and 100 chairs after each rainshower / dusty wind? don’t need a roof overhead, I suppose, so long as we have a spat of continual perfect weather.
the table in the pool should be easier to clean. just turn it upside down in the water and dunk it.
those tall wooden folding whatevers should add nicely to the liability insurance. they don’t look like they’ll blow over at all. (or is that just stacked firewood for the fireplace?)
from now on I’m calling the place “What the F**k were they thinking-Brickell.”
Lastly, looks like the developer could always rent out during the Halloween season…spooky. LOL
Probably too Cynical,
–
I like your anger.
“. $10M was spent on these monstrous columns.”
Those columns remind me of the “E” logo for Enron that was auctioned off when it went bust. I wonder how much those columns will go for when this project flames out and a cleanup crew comes in to replace them with a normal aesthetic.
I’d like 2 columns for my driveway.
Also, instead of Easter Island Moais, they remind me more of the cursed tiki that Greg Brady got on that episode when the Brady Bunch went to Hawaii http://www.mattmunson1.blogspot.com/2008/05/brady-bunch-tiki.html
Maybe the Brady Bunch was Starck’s true inspiration for the Icon columns.
wow! what a craphole! someone mentioned that this could work as a boutique hotel, i completly agree, this could never, ever work as a 1700+ unit building. I’m shocked, it looks like they tried to be classy and artsy at the sametime and screwed it all up. wait five years for the special assesments once they have to re-do that disaster. I cant believe my eyes and how ugly that turned out.
Amazing!
I am seeing something I would not have thought possible in a Real Estate/financial site:
a virtually unanimous agreement on a topic.
Ok, so let’s assume that this totally flops (high probability.)
How does this affect condo sales elsewhere?
Does it become a further drag?
Or does this not even matter?
money.cnn.com/2008/11/04/pf/forecast_home3.moneymag/index.htm?postversion=2008110605
Money says Miami looks the worst in 2009 with 18.8% decline….
Muir (#65), it keeps me warm at night.
Raffi (#67), don’t mince words or hold back. Tell us what you really think about it–
Muir again (#68), agreed. it is a welcome change that instead of conflict and bashing each other we all join forces and bash this monstrosity train-wreck abortion of a new condo building.
This stuff looks too wierdo spooky.
What is the price per square foot here? I think I remember it very high for the area.
If you missed the politics….just click on the after election line in Indianapolis.
Wow, this is the nicest ” we are all getting along” blogs I have read! Nice to see Muir is back to his old self. RT as well. Keep up the good work and great posts.
I still want to visit Icon Brickell…Aren’t you all just a little interested to see it live? I do like some of Philippe Starck’s designs…Delano is cool. My bathroom is a Starck theme (Duravit,Axor) But aren’t his designs usually …well stark??? This place seems far from it.
since most people seem turned off by icon decor, this would imply you would not be interested in buying either. being realistic, for those that are turned off by the decor, is there a price point that would make you consider? keep in mind this should still be considered a luxury building, so $100 sf will never happen-they will sell out way before that price point is reached. but at what price would you buy? $300 sf?
Miami2009
I think everyone on here wants to see the place. I just don’t think many people think, based on the pictures and execution, that the place is a good idea for a permanent residence. I guess I’d equate it to hitting a club and doing the whole bottle service nonsense…yeah, it’s fun, and amusing, but really, at the end of the night, who f%^king cares? it’s just a bunch of nonsense.
I’m set to go next week to see one of the premium units in the building with a friend (he’s trying to get out of the contract…go figure). Absolutely looking forward to it.
Well, I am not so crazy about the decor. But the location is a big plus for me. $200 sf…maybe. I think the amount of units turns me off more than the decor actually.
Gables
i think someone already pointed out…there really is no floor for this project.
I would equate it to Gap. I mean you got Banana Republic, a little pricier and nicer on one end (EPIC) and then you have Old Navy, cheap but gets the job done (500/Plaza), on the other end. Why go Icon in that scenario?
Maybe i’m oversimplifying here (and I’m assuming that Icon’s decor makes you throw up in your mouth)….but, at any price point in Icon, you’ll be able to find something better for a bit more on one side (assuming again, everyone finds Icon’s decor offensive), or something a little bit cheaper but good enough on the other side.
my point is that it will not get any cheaper than plaza or 500, no matter how gaudy the decor. at some price point above those buildings, people will buy in because you will still have a better product. even with an assessment in a few years to change the decor, the architecture of the building is great. drove by the other night and i really like the exterior. the question will be at what price point would you consider icon over a cheaper plaza, etc. personally, i am looking at new luxury units for slightly under $200 sf a good price. if icon was at $250 or perhaps $275 it would attract my attention. not sure if something greater than a 25% premium is warranted, but i do like the exterior and location on the river/bay intersection.
Miami 2008 said “I think the amount of units turns me off more than the decor actually”
Jcrimes said “I would equate it to Gap. I mean you got Banana Republic, a little pricier and nicer on one end (EPIC) and then you have Old Navy, cheap but gets the job done (500/Plaza), on the other end. Why go Icon?”
gables said “since most people seem turned off by icon decor, this would imply you would not be interested in buying either”
very valid points. No one will be touching this with a very long barge pole. I am very interested to see what Jorge Perez is planning now. Even him and his “vulture” fund must be dripping cold sweat over this project. If he tries to dump 1450 units on the rental market for $1/sf/month, that will effectively destroy this building.
But jorge is not stupid either. Do not write him off so quickly.
I reported a few months ago that along with 5 other buildings, Icon got tax exemption. Jorge is a master manipulator. So he might be able to hold these units without paying the Miami Dade Taxes on them for a few years. Also by keeping control on the extremely small amenities for 1700+ units, his share of the HOA should be minimal. In any case it will be a major case study. We all have the front row seats. Let us watch!
AJ said: “I reported a few months ago that along with 5 other buildings, Icon got tax exemption. Jorge is a master manipulator.”
That doesn’t make him a manipulator of any kind, it makes him a regular businessman. Getting initial tax exemptions for major projects is Land Development 101. It works great for the city in that it attracts more substantial projects which grows its tax base as the tax exemptions are phased out.
RT
yeah, but no one plays the system down here better than Jorge. permitting, taxes, whatever, he always gets his way. and don’t forget his grove endeavors…hiring one of the commissioner’s former mentors and then allegedly bribing the commissioner through this person? i mean, yeah, it’s what “regular businessmen” do down here…but it’s also manipulation, right (if true)?
Gables
i agree, the exterior is nice. especially the corner units. but take a closer look at the one bedrooms that are stuck in the middle. look ridiculously cookie cutter. outside of really wanting a bay view, there’s absolutely no reason to pay a premium for those units. i say go to 500/plaza/other building instead for all your one bedroom needs. as for the location, from a living standpoint, yeah, i like it. the river, bridge, brickell key and downtown all in sight, make for a nice urban oasis feel. however, from a driving standpoint, traffic is already bad over there and it’s only going to get worse with these buildings coming online.
Getting tax breaks is nothing out of the ordinary or special. The other issues, I don’t know but it may speak more to the convoluted local government more than anything that that type of things is necessary in order invest in the area. If he wants to invest billions in the area, go for it. That creates jobs, etc.
I have an idea, how about we take a field trip over there. Lucas can you arrange a big group of us to go see the building and units? that way we can see this train wreck first hand and meet each other….I think this is a solid idea.
i wonder if icon accepts change, it might be the new location for the homeless shelter
Any idea what unit owners can expect to rent a 1br for? Also, when are the first residents moving in?
Guys,
I just finished the tour of the building and I think that it is an INCREDIBLE project. Jorge Perez went completely over the top with this one, and I believe that this project will be very succesful. From looking at the pictures that Lucas posted I thought it was a bit tacky and to much. Once you see it with your own eyes you can truly capture the magnitude of this project. It really feels like you are somewhere else, Vegas, NYC, but definately not Brickell.
I definately dont think its for everyone, and I dont think it will be filled up immeditalely, but I firmly believe that once all the restaurants and the Viceroy Hotel are operating it will be the hippest place in Brickell, if not Miami. It will take time, but it will get there.
Brickell has never seen something like this. I think its great for the area. Finally we will get alternatives other than Miami Beach. I truly wish them the best with this project.
Brickell has seen much better architecture than the Icon (Bank of America Tower, Curvoisier Center, Mandarin Oriental) Icon is an eyesorem, a monument to the ego of Starck and Perez.. the ugliest building in Brickell for sure.
I’m guessing AR works for Jorge Perez
hahahaha, no Raffi, but that was funny.
AR said: “It really feels like you are somewhere else, Vegas, NYC, but definately not Brickell… I firmly believe that once all the restaurants and the Viceroy Hotel are operating it will be the hippest place in Brickell, if not Miami. ”
———-
That’s precisely why this concept will fail. A 30 something in Chicago doesn’t by a condo in Miami so he can get an over the top Chris Angel inspired “Las Vegas” condo minus the Cirque du Soleil and minus the Casinos.
Poeple come to Miami for Miami and not for a Vegas or NY vibe. Miami is Euro/South American… not old school US Vaudeville.
Also that hip 50 person table will be rusted long before this condo ever fills up… This look is not cool now and will be infinitely less cool in 10 years.
JL,
Have you taken a tour of Icon? I’m backing AR in saying that the pics don’t do it justice. This will be the place to be in Miami. There’s nothing like it anywhere. It might not have casinos, but it will eventually have restaurants and lounges.
I like it. it’s unique and I consider myself a hipster…but that’s the propblem not eveyone else will like it and to fill in 1700+ people in this bld is gonna big a big challenge at the price points they are asking. i inquired about a 2/2 and the price quoted was in the high $600’s so that to me is just as insane as the decor!
Slash that 50% and maybee I would consider. This project is a Delano wanna be which is ok cause the Delano is nice but as a Hotel as a long term residence prob not. I wouldnt mind it but I can’t imagine 1700 hipsters making this their primary residense. Cause us hipster are hip but you’ll have a hard time attracting the polished up biz person who thinks thsi is was over the top and would prefer a product like epic.
This project will appeal to some but I agree this product will intrigue at first because we never seen a condo as over the top but after the wow factor disapears it will slowly sink with overpriced units. Then rality will kick in and you’ll then realize that you can still still get a unit in a brand new pretty cool building and not pay the premium for fancy style furniture or artowrk.
The .50 cent main fee is a joke that will rise real quick.
Good luck with this one as I think a huge majority of buyers will default. Can we sign up for the auction now??
Also the rent prices here will start off high and you’ll get a few but will prob sink real fast.
1,700 units at $600+ per square foot in Brickell? This might eventually be a Flamingo type rental building. Rentals could be super cheap in about a year.
Brian – I agree. the Sheer number of units in this building is huge negative in this market. It has to go rental just to keep the lights on.
I think that wow factor plays a great role. If the project is so unique it will attract a completely different type of crowd. It is hard for me to judge it from just seeing the pictures and as I mentioned before in my previous message 1,600 apartments pose a ?
People that Are going to buy there are not people that care about sound investments. They will buy just to have it even if they are going to be there 2 days/year. Look at The Time Warner building on Columbus Circle in Manhattan. Depsite the crisis it is a long waiting list of people from around the world who want to buy. There studios start from $2 mil. It is also over the top. It is unique. May be 1,600 apartments is not such a big # if it it is really unique.
It is very interesting to see. Look also at Aqualina in Sunny Isles (it is not so much over the top but it is a bit different from other buildings). It is one of very few buildings where prices actually went up a bit despite the bubble.
So the results are really unpredictable with Icon.
I have to agree with the naysayers on this one. Oh, the Hanging Gardens of Babylon in the foyer are a nice touch, and the herds of wildebeast prancing majestically across the plains around the pool I’m sure are nice. but that doesn’t mean you’re going to find 1700 willing buyers in this time in this market in this town of the already insanely overlevered.
unless, of course, one of the ammenities is a time machine that can transport the building back to 2005 when scores of uncreditworthy had access to unlimited borrowing.
The county needs to buy units in this building when it fails. Low income housing in this area is the best solution for people who depend on public transportation. We need a Walmart downtown to provide jobs and value based shopping for the low income residents.
lara – I couldn’t tell if you are serious or not? Surely you’re not being serious….Miami is not Manhattan and ICAN’T is not the Time Warner Building. While I can’t account for the stupidity of the wealthy in NYC, I can say there are a lot fewer of them thanks to the stock markets 35% or so drop in wealth. The number of units at those prices is what will doom this building, bizarro decor or not. I wonder what bank would even touch mortgage in this building without say 50% down? Anyone know?
Look at the Four Seasons. At that price point, I would be over there. They still have unsold units I believe and its been 5 years.
– Better quality
– Much better hotel where A-listers and world leaders stay
– Nicer ameneties and health club
– Better name brand with Four Seasons
– Taller building
– Seperate pool and residence areas
STEPHAN #41 re Last Year at Marienbad
From spelling sounds like you are European + thus might know Schatzalp hotel in Davos where Thomas Mann set his book Magic Mountain ..another creepy place with
L O N G corridors strange sounds in the night..
Stayed there in early 90s when was in dilapidated condition before the renovation that restored it as a high end property
Schatzalp started as a sanitarium and became a hotel: maybe a different tack here IF Icon will go the OTHER way and end up as a sanitarium offering intensive treatment for all the depressed condo owners who bought at the top of the market?
[…] past week I was able to tour not only the amenities and common areas at Icon Brickell but also a few condos. Below, you will find the pictures that I took of a few two bedroom […]
Renter Tom said: “Which room does Siegfried and Roy perform in? I’d be afraid someone from the Blue Man Group would chase me down that white hallway with an axe….redrum, redrum, redrum. Does HAL get your mail for you?”
Ha ha… I was thinking the same thing, although you articulated it better than I could. Looks like they hired the production designer of “A Clockwork Orange” to come up with this.
Really, really, weird. Regardless of whether some people like this decoration or not – I think it is a big mistake in terms of sales. Isn’t the general rule of selling real estate to be as “neutral” as possible? That’s what all the “how to sell your home” advice says – and I agree. After all, no two people have the same taste in decoration.
They went way too over the top with this one.
LOL
Only in Miami.
Or maybe Vegas too.
Hello,
It’ s a mistake to speak about 1700 unit. Remember that “The Viceroy” include 500 unit. And 200 unit are not to sale, just to rent, for short term rental. So It’s 1000 units. I know that Icon stay a very big condo but i think that it will be more famous that a lot of other condo, because of the designer, the 5 restaurants, the bars, and the club.
I think that it will be difficult to sale that now at this price but it s a great investment if you buy that at the right price.
goldberg,
If I’m not mistaken The Viceroy only has 150 units.
goldberg said: “but it s a great investment if you buy that at the right price.”
– Isn’t that true of any investment??? But what price is right?
Sorry,
You are right, viceroy has 150 unit.
I can t explain all th
i don’t know what it’s the right price. You know, i live in Paris, and all the price that i seen for the marina blue, or for the ten museum park , now, seems good for me. But i think that if the price will be down to 350 $ by square feet, i will be very interested by this condo.
So, in my last message i just wanted to say, that’s is a good investment for the stranger as me by exemple, i come two times by years, and the other building are the same. I was interesting by the Ten Museum Park and the Marina Blue. I went in Miami this summer and i lived 2 week in Ten Museum Park, and 2 week in Marina blue. Ok, it was good quality, but it was sad. Not really funny or luxury. I said to myself, i prefer come in Delano or in another hotel. I have no reason to buy here. But when i take a look in this building, i think that a great place for my holidays and i wan’t buy this beacause, it’s really like a luxury holiday hotel. And more important, i know that i could rent that for short rental, more expensive that other building.
I m not a specialist, it s just my feeling, and i trust you when you say that it’s building will be the Titanic of Brickell.
has no one considered the effect of 1700 residents trying to drive out of that tight street at 8am or 9am (no one walks to work in miami, even if it is 4 blocks away) and what a total nightmare that will be!
I’d point the finger at the City and say shame on your for creating such a traffic nightmare
The ICONS in front of the building are actually fiberglass boat shells reshaped to look like gods or something
ICON = flamingo on brickell
I’m sorry but WHAT ON EARTH were they thinking when they made that hideous, tacky and spooky lobby?????
Was it inspired on the hall of some Halloween House of Horrors?
All it needs is the whole Adams family greeting at the door!
Who wants to live in a theme park year round????
The columns look to me like pieces of a bowel movement, not like heads from easter island. Its like the whole oversized fat building is taking a dump in downtown and forgot to close the blinds. It’s nauseating to drive by.
The lobby reminds me of the Castle nightclub in Tampa… a great gothic hangout that has been around for years… but i wouldn’t want to live there. And the chairs in the pool, i hope some of the 1700 fatsos who are figuratively defacating into the bay by way of easter island piping don’t spill their fries or other food into the pool… you don’t want to go for a dive and come to the surface surrounded by mystery meat.
[…] confirmed that Jennifer Lopez and Marc Anthony placed 10 units under contract at Icon Brickell earlier this afternoon. People magazine reported last month that they had acquired a penthouse […]
I took a dump in the spa.
Possible to find a studio rental there for around thousand bucks? (short term -6mo)
I live in Brickell Key, I have to see this building everyday. Philip Starck and Jorge Perez, created a monument to themselves, it refelcts the excess of the construciotn boom. It is one of the ugliest buildings I ever see in Miami and I still wondering how Arquitectonica could have been part of this megalomaniac project. The part I dislike the most are the potato heads (columns) that have absoltuely no connection with the rest of the construction, $10 millions dollars wasted. No wonder Jorge Perez lose $!B (well, he didn;t lose, he just didn;t repay his loans) A total mess..
Funny how Icon is the #1 Building in Brickell/Downtown area. Many of the people commenting on the architecture and over-the-top theme must be a little jealous they can’t afford to live in the building? Yes I own a unit at Icon butfrom living in 3 others in the area, I have a strong opinion that this is by far the best overall. Best Amenities, Best Entrance, Class of people A+, Units are great Marquise and Epic may have slightly better interior units.