Trophy Property: Spectacular Rise Four Bedroom Asks $3.1 Million
In a sea of Downtown Miami area condos, it is easy to become jaded. There are so many beautiful options, and it really takes something special for us to pause and say WOW! Then we toured this exquisite corner four bedroom at Brickell City Centre’s Rise Tower.
Unit 3701 is a 3,244 square foot 4 bedroom/3.5 bath flow-through residence with a South/East-facing wraparound terrace AND a sunset terrace. The seller made several upgrades to the layout, which can be found here. They turned the staff quarters into a 400-bottle wine cellar, but left the original plumbing intact in case future owners are not wine connoisseurs. In the master bath, you will find that the dressing room is locked with fingerprint access and a hurricane-proof glass door. All closets are custom-designed Italian cabinets and a movie theater with surround-sound has been added.
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!
La Centrale At Brickell City Centre Set To Open In December
Miami’s first Italian food hall is slated to open in December with over 40,000 square feet of culinary experiences. There will be a series of stops available, each inspired by a different region of Italy.
MERCATO
This is the grab and go section, where you can choose specialty Italian retail items.
STAGIONALE
The second stop is inspired by the Veneto region and offers seasonal fresh produce, risottos and mozzarella.
CHIANTI
Next, you can visit the carne section, a true Italian Macelleria. There you will find the best cuts of meat cooked in a traditional wood-fired grill.
LIGURIIA
This section is a light and airy space that will serve the freshest fish that South Florida and the Mediterranean have to offer.
NAPLES
In the Naples section, you will find a rustic pizza and pasta eatery with authentic Neopolitan pizza cooked in traditional wood-fired ovens found in Naples.
ENOTECA
Lastly is the Enoteca wine cellar. You can sip and savor there amongst friends, or grab a bottle to take home.
Nearly 80% Of Buyers At Reach Purchased As Investment
One year ago, we noticed a shocking yet not unexpected trend at Brickell City Centre’s Reach Tower. At that point, 277 of the building’s 390 residences had closed, and 30% of those had already come back to the market as rentals. We knew that a significant number of buyers had purchased as rental investments, but had not seen the exact figures. It was intriguing, and we have followed the numbers as the building continues to fill up.
And here we are. A year has passed and according to the tax rolls, 351 units have closed. Of those, 34 have come back to the market as resales, 191 as rentals, and 55 owners put their units up for sale and for lease. That leaves only 71 units to be used by the owners. According to the tax rolls, none of the owners had filed for the Homestead Exemption, so it appears that those 71 owners are part-time residents.
Over the coming days, we are going to be calculating the same figures for other buildings that recently opened. Do you think we will see the same trend throughout the marketplace, or is Brickell City Centre an exception?
Brickell City Centre’s Rise Penthouse Has Sold For $5.75 Million
Even before the offering was able to be made to the public, an undisclosed buyer has snatched up the upper penthouse at Brickell City Centre’s Rise tower. This is an amazing sign, in a time when the news media continually injects fear and dread into our real estate market. Although the number of buyers are undeniably less plentiful, the buyers who are looking into Miami purchases are very serious about getting what they want and after you see the floor plan, it won’t be a surprise that this gem sold before it hit the market.
The duplex penthouse boasts approximately 4,500 square feet of interior space plus roughly 4,500 square feet of outdoor space. There are 4 bedrooms including a junior master suite plus service quarters and a den. There are 3 balconies, two on the first level and one on the second level off of the master suite. Each level has a terrace overlooking Brickell and the Biscayne Bay. On the first floor, the terrace includes a summer kitchen and a private swimming pool. A private jacuzzi overlooking the city is located on the terrace off of the master suite.
This comes on the heels of another recent noteworthy sale, when a South African buyer purchased a waterfront teardown for $10 million. We have learned that the buyer of the Brickell City Centre Penthouse is not a foreign investor, just a very private American with very good taste. The final sale price was $5.75 million.
Allison Ortiz from Fortune International’s in-house sales team was the one to put the deal together. She is someone who has worked with the Miami Condo Investments team for many years, even back when Brickell City Centre was just a spark in Stephen Owens’ eye. We have been fortunate to have her as an asset for our clients at Brickell City Centre, Infinity at Brickell and also Met1 in Downtown. The earlier projects have since sold out fully, but she always goes the extra mile for our buyers and the clients we have worked in those buildings have all been extremely pleased with their purchases. Congratulations to Allison on a job well done and congratulations to the buyer on a beautiful property!
The 8th Street Metromover Station Is Officially Renamed “Brickell City Centre Station”
Photo via Jami Reyes Facebook
The Miami Metromover’s 8th Street Station was formally renamed the “Brickell City Centre Station” this morning in a ribbon cutting celebration with Mayor Gimenez.
During the construction phase of the $1.05 billion mega project, Swire also upgraded the city-owned transit stop and integrated it directly into the third level of the shopping mall, allowing shoppers and residents the ability to come and go from the development without being exposed to the summer showers that Miami is famous for.
For those who are new to the area, the Miami Metromover is a 4.4 mile electrically powered train system that shuttles people around the Greater Downtown area for free. It is automated and air-conditioned, and can drop people in the Brickell Financial District, Miami-Dade College, Bayfront Park, The Frost Museum and PAMM, Omni Mall and now Brickell City Centre.
There are also transfer stations in Downtown and Brickell that allows people to transfer to the Metrorail, accessing the University of Miami, the Jackson Medical Center hospital district, the Miami International Airport and more. “The Mover,” as it is commonly called, is extremely convenient to people in the Downtown area, and even more now that we can access Brickell City Centre directly.
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Brickell City Centre Receives Final Certificate Of Occupancy
Today is May 12, 2017. This is the day that Swire’s Brickell City Centre mega-project, the one that changes the Brickell neighborhood forever, is effectively complete.
The final certificate of occupancy for the whole project was received today. This means that all floors of both office towers, all floors of Reach, Rise, the East Hotel AND the full retail portion are ready to go. Now, before everyone gets all up in arms about the stores in the retail portion not being 100% open yet, be patient. The stores are not able to even begin their build-out until the certificate of occupancy is delivered, but everything is now complete on Swire’s part.
This project has been a tremendous success not just for Swire, but for the Brickell neighborhood and the people behind the 6,000+ jobs that the project created as well. Swire took a 9 acre assemblage of land that was once vacant lots and a tennis center and turned it into a catalyst that not only changed the neighborhood, it changed the market as well.
Brickell City Centre features over 5.4 million square feet overall, with 500,000+ square feet of retail, 130,000 square feet of class A office space, a 5 star hotel and 780 luxury condominium units in two towers. Reach tower opened in April of 2016, and Rise tower in the fall. The condos have been consistently selling at a rate of $650/square foot. There have been 4 resales so far at an average rate of $667/square foot.
One of the things that I find especially endearing from Brickell City Centre is their eagerness to contribute to the community. Not only did they donate $600,000 to the Underline, the 10 mile linear park underneath the MetroRail line, but they are also eager to host events for the area. Each week, there is a Saturday afternoon farmer’s market under the MetroMover line, regular events are held for their retailers and they have also been open & excited to host events for the public to get better acquainted with the new space.
We offer Swire 5.4 million congratulations for 5.4 million square feet of success! Thank you very much for this contribution to our community!
Fun Fact Friday: Every Building Swire Builds Is Blessed By Monks… Twice
We find ourselves praising Swire Properties regularly. They move trees from their development sites to local parks rather than cutting them down, they donate money to The Underline (Miami’s answer to New York’s High Line), they spend $31 million on a climate ribbon that cools their shopping center, protects shoppers from the elements and looks really nice from every angle. Now, we also learn that each and every building that Swire Properties builds is blessed by monks at least twice.
The Hong Kong based developer has a tradition of flying monks to their build site at groundbreaking for a blessing ceremony. The ceremony is repeated once the project is complete. In 2005, Carbonell was even able to be blessed by the Dalai Lama himself! Brickell City Centre was blessed multiple times. First, there was a blessing ceremony at groundbreaking, then the East Hotel was blessed upon completion. Reach and Rise received their own completion ceremonies with the East Hotel receiving an additional blessing at this time. When the mall opened, the entire project was blessed again. Talk about counting our blessings! Here are the other buildings in the area that were built by Swire Properties:
The long-awaited Apple Store at Brickell City Centre is slated to open on March 25. There will be a grand opening beginning at 10am, according to Apple.
This will be the first Apple Store in the Downtown Miami area and is very much welcomed. It will employ over 100 people speaking a total of 9 different languages, according to TechCrunch. Over half of the employees will speak Spanish, something we know is required for the Miami market.
On the outside, there will be 13-foot-tall floor-to-ceiling glass windows looking into the indoor/outdoor mall. Inside, there will be a large forum with a video wall and display windows with regular new designs. There will also be a boardroom for business customers to speak with Apple employees and try out new devices.
We will see you there next Saturday!
Miami Condo Investments Is Going To The Movies! Cinemex At Brickell City Centre Update
Last month, we received information that the Cinemex movie theater in Brickell City Centre was set to open on February 17. This news was welcomed with much excitement by the people who have been waiting patiently to see a movie in Brickell. The people with Swire were less impressed. It seemed there were some delays behind the scenes that we were unaware of, and the opening day was pushed back to March 17.
As that date draws nearer, the permits still haven’t been closed out and opening day is rescheduled for March 24. This process of final permits always leaves us with very fluid dates. The date that they are closed out depends upon the schedules of the inspectors, contractors, the amount of paperwork on the desk of the inspectors and a host of other moving parts that could create a delay. Even so, we took a peek inside this week and saw that things are indeed very close to completion.
We are just as anxious as everyone else to see the theater open! This is something we have wanted to have in the neighborhood for 10 years now, and at last it is SO CLOSE! We have even signed on to have a 30 second commercial that will air before each movie on each of the 10 screens at the theater, starting on opening night. We are so eager to see the theater open, we can’t wait to show it to you! What do you think?
