Updated Video and Brochure for One Thousand Museum

For those of you who have not had a chance to check out the latest promo video for One Thousand Museum, go check it out now. It is pretty spectacular.  I believe the video has been around since last month but it wasn’t until earlier this week that I actually sat down and watched it in its entirety.  The video not only does an outstanding job of showcasing the amazing design of the building and jaw-dropping views, it also highlights the promise of what is to come for Miami – more specifically, for Downtown Miami.  It is this promise, and the excitement that surrounds it, that will inevitably propel real estate values in Miami past those last seen at height of the market in early 2007.  With Museum Park set for completion in 2015, the ever-impending formal announcement of Miami Worldcenter, and the recently proposed Skyrise Miami, there is a lot to be excited about in Downtown Miami.

Below is the latest promo video for One Thousand Museum:

Below is the latest e-brochure for One Thousand Museum:

Preconstruction Sales for 600 and 700 Biscayne Blvd to Launch Soon?

While driving through Downtown Miami earlier this week, I noticed a number of signs at each corner of the sites for 600 and 700 Biscayne Boulevard.  The signs say “Another Luxury Development by Chateau Group”.  A telephone number is also included.  Despite a number  of calls, however, I have yet to obtain any additional information. Just assurances that a sales person would contact me soon.   The lots are located immediately south of Marina Blue and just north of the Freedom Tower.  I have heard rumors for months that pricing will range from $600-$800 per square foot for non-penthouse units at each of the two developments but I’m sure at this point not even the developer knows for certain.  It will be an interesting addition to the array of preconstruction condo developments that have been announced for Miami within the past year.  With the exception of One Thousand Museum, no other luxury condo developments have been announced for Downtown Miami.  The vast majority of them are located in Brickell or Edgewater.

Update: I just saw the exact same Chateau Group sign at the entrance of Gulfstream Park in Hallandale Beach.  There’s a a large lot at the intersection of NE 10 Ave and Hallendale Beach Blvd.  Is Chateau Group planning to build a luxury condominium development at that location as well?

One Thousand Museum Condos

To those not in the know, The Wall Street Journal article last week regarding One Thousand Museum helped to shed a lot of light on the closely guarded ultra-luxury pre-construction development before its formal unveiling later this month.  Although an image taken from a cell phone of the proposed residential high-rise had recently surfaced, the renderings which accompanied the article were the first to be made public by way of the developer.

The Wall Street Journal article is a great read, and I highly recommend it, but for those who like to get right to the point, here’s a quick rundown of what was shared regarding One Thousand Museum in the article:

• One Thousand Museum will cost $300M to construct.
• It will rise 706 feet and have an “exoskeleton” to eliminate the need for interior columns.
• According to the developers, the duplex penthouse at One Thousand Museum will likely be priced between $30M-$50M.
• Half-floor residences will have around 4,500 interior square feet.
• Full-floor residences will have around 9,900 interior square feet.
• Prices will range from $4M to $15M, or $900 to $1,400 per square foot.
• The average price per square foot for oceanfront units in Miami Beach that are currently under construction is $1,000 to $1,250.
• New construction prices for Downtown Miami is typically around $450 to $500 per square foot.
• One Thousand Museum “will be financed with a combination of developer equity, a loan from a nonbank investment fund and deposits of 60% from buyers”.

By the way, you can view the renderings which accompanied the article on my One Thousand Museum condos page.  Check them out there!

A Look at the Life of Zaha Hadid

One Thousand Museum: Additional Information Unveiled

Additional information regarding One Thousand Museum has recently come to light.  My hunch was correct.  The co-developers, Gregg Covin and Louis Birdman, are out to target the uber-rich with this development.  Prices will range from $4M to $12M for half-floor and full-floor residences.  The pricing for the duplex penthouse has not yet been revealed but will likely crush the record for a non-oceanfront condominium residence in South Florida which, if I’m not mistaken, was set in March 2007 when the 9,000 square foot penthouse at Bristol Tower was purchased by Pharrell Williams for $13.95M.  That same penthouse, by the way, is currently on the market for $13,999,000.  I will not be surprised in the least bit if the duplex penthouse at 1000 Museum gets priced at $20M or even $25M.  Things are about to get exciting for the Downtown Miami condo market!

1000 Museum will be erected at 1000 Biscayne Boulevard, the current the site of a BP gas station.  It will reside just south of Ten Museum Park which was developed by Gregg Covin and completed in 2007.  The footprint of the site is not much different than Ten Museum Park so I expect to see half-floor residences start at around 4,000-4,500 square feet.  One would assume that full-floor residences would be double that but I can’t be too sure.  Zaha Hadid is known for using elegant curves in her work so who knows what we will see.  Actually, I take that back.  Who knows what I will see.  The South Florida Business Journal mentioned in an article yesterday that “the first images of Zaha Hadid’s architectural design for the newly named One Thousand Museum are expected in late March”.  That tells me one thing: that the public will have to wait about a month after VIP real estate brokers and agents, like myself, are expected to see the long-awaited designs.  Sorry folks!  Move along, move along.  There will be no show here today, or this week for that matter.  The general public is likely going to have to wait.  I, along with the other brokers and agents in the room, will likely be asked not to disclose publicly any renderings of the development.  They won’t be the first to do so and this is not uncommon when dealing with high-profile developments in this price range.  In fact, I was asked two days ago by two other development sales offices to refrain from posting any renderings on my website for the time being.  Perfectly understandable in my book.

Obviously, not everyone will have to wait to see the new designs.  Certain brokers and agents are given a sneak peek for a reason.  Our job is to spread the word to our high-profile clients and others who might have the means to afford an ultra-luxury residence in this price range.  If you have a sincere and legitimate interest in learning more about 1000 Museum, contact me Friday afternoon.  Be prepared to prove it though.  Buyers will likely be asked to fork over a quarter of a million dollars just to reserve the smallest unit at 1000 Museum.  I’m expecting to see a design that is truly spectacular – the likes of which South Florida has never seen.

One Thousand Museum by Zaha Hadid to be Formally Announced Next Week

The wait is almost over.  The new Zaha Hadid development to be located at 1000 Biscayne Boulevard will be formally announced next week.  It had been expected to be called 1000 Biscayne Tower but that is no longer the case.  The developers have instead decided to call the luxury residential high-rise One Thousand Museum.

Over the past two months, there has been a lot of buzz and excitement surrounding this upcoming development.  The internationally acclaimed architect, Zaha Hadid, has a huge cult-like following all around the world, and for good reason.  Her resume is impeccable with a laundry list of achievements and award-winning past projects.  As a result, I expect there to be a lot of interest for condos at 1000 Museum.  This development, however, will not be for the average buyer.  My sources tell me that this development will target the uber-rich who are looking to not only invest in a luxury residence in Miami but also buy into a work of art that will be known all around the world.  It is expected to set a new bar for condo prices in Downtown Miami.  I would not be surprised to see prices for condos at 1000 Mueum hit $1,000 per square foot out of the gate.

By the way, I did a little research to see if I could substantiate the news which was provided to me yesterday.  I discovered that Louis Birdman, one of 1000 Museum’s two developers, registered the domain 1000museum.com on January 9, 2013.  If that’s not enough proof then I don’t know what is.  Stay tuned because I will have a lot to report on this exciting project in the weeks ahead.