Additional Renderings of 1100 Millecento Residences
I came across two additional renderings of 1100 Millecento Residences while surfing the Internet which I decided to share. The one above is a nighttime shot of 1100 Millecento Residences as seen from the intersection of Southeast 9 Street and South Miami Avenue at Mary Brickell Village. I’m quite pleased with the amount of air space that resides between 1100 Millecento Residences and the north tower of Axis. I was concerned that the 19 and 20 lines at Axis would be looking directly into the west side of 1100 Millecento Residences and have their view completely obstructed. That doesn’t seem to be the case if the rendering above is accurate.
The second rendering is of an east facing unit at 1100 Millecento Residences which would provide you with an amazing view of the Brickell skyline as well as an obstructed view of Biscayne Bay. The rendering indicates that the kitchens will be outfitted with Italian wood cabinetry, limestone counter tops and a Subzero refrigerator. Unit details have to be released, however.
I also learned that 1100 Millecento Residences will have a 9th floor elevated pool deck with a club room, a state-of-the-art fitness center, private theater and 42nd floor rooftop infinity edge pool with private cabanas. To put into perspective the type of view one might get from the 42nd floor, think 500 Brickell. 500 Brickell also has a 42nd floor rooftop pool.
Pre-construction sales for 1100 Millecento Residences have not yet begun but prices are expected to start at $350 per square foot.
1100 Millecento Residences – A First Look
If all goes according to plan, Related Group will follow pre-construction sales of myBrickell with the launch of 1100 Millecento Residences, a proposed 382-unit condo development to be located directly east of the north tower of Axis at 1100 S Miami Avenue in Brickell. Designed by world-renowned architect Carlos Ott, the development formerly known as myBrickell 2 will rise 42 stories and include street-level retail space.
Pre-construction sales information has yet to released for 1100 Millencento Residences but expect an announcement soon given the level of demand for Miami condos at this time and the fact that Related Group is close to selling out myBrickell.
Brickell City Centre Construction Set to Begin
Earlier this week, The Miami Herald reported that Swire Properties has closed on a $140M line of credit which would allow them to fund the initial construction of Brickell City Centre, a $1B mixed-used development to be located just north of Mary Brickell Village along 8th Street. There’s no doubt that the addition of Brickell City Centre to the neighborhood will have a profound impact on Brickell and that real estate values in the immediate area will be positively impacted. The residential component of Brickell City Centre will be comprised of two towers: Brickell City Centre Reach and Brickell City Centre Rise.
The first phase of Brickell City Centre is expected to be completed in late 2015 and will include about 4.3 million million square feet. Plans call for 520,000 square feet of retail shops, 800 condominium units divided between two towers, a hotel with 243 rooms, two small office towers of 110,000 square feet each and 93 full-service apartments. The first phase will also include 3,100 parking spaces and design feature known as the “Climate Ribbon” that will provide a covered walkway to navigate the project. The second phase calls for an office tower of 750,000 square feet that will be built as market conditions permit.
The Mark on Brickell 3 Bedroom – $365,000
If you are in the market for a 3 bedroom condo in Brickell but on a limited budget, you might want to consider this property at The Mark on Brickell. I came across it while conducting a search on the MLS on behalf of a client and was surprised at the price. It’s a 3 bedroom/2 bath condo with 1,470 interior square feet and travertine and wood flooring throughout. The asking price is $365,000, or $248 per square foot, which is an exceptional value to be in a waterfront building in Brickell. The unit does not have a water view but one should not be expected at this price point. Expect to pay at least $100,000 more for a 3 bedroom in Brickell if you require a water view. This condo is located on the 6th floor with direct access to the pool deck which does offer panoramic views of Biscayne Bay. The unit is currently tenant-occupied but the lease ends next month.
Miami Condo Prices on the Rise
Everyone seems to be in agreement nowadays that the Miami condo market has fully recovered. In fact, not only has the condo market recovered but prices are now on the rise. A recent report released late last month by the Miami Association of Realtors showed that the median sales price for condominiums in Miami rose a remarkable 36 percent year-over-year in January. The average sales price for Miami condominiums increased 45.2 percent in the same time period.
Existing condo inventory continues to be absorbed at a rapid pace and new inventory won’t hit the market until at least the second half of 2013 when myBrickell is scheduled for completion. Pre-construction sales have gone remarkably well at myBrickell with over 85% of the units now under contract. Meanwhile, pre-construction sales at Brickell House, a 374-unit luxury high-rise scheduled for completion in 2014, has experienced similar success with over 60% of the units now under contract. Other condo projects have been approved by the city for development but sales have yet to be launched despite an overwhelming demand from foreign buyers.
Don’t take my word for it though. Here are a few major news sources who have recently reported about the upbeat Miami condo market:
Infinity at Brickell 1 Bedroom – Lowest Price Per Square Foot Unit Available
We recently received a new listing at Infinity at Brickell that should capture the interest of anyone currently in the market for a 1 bedroom loft located in Brickell. Our listing is for a 1 bedroom/1.5 bath bi-level loft with 993 square feet of interior and a 76 square foot balcony off the living room. The asking price is $297,888, or $300 per square foot, making it the lowest price per square foot unit currently available for sale on the MLS or through the developer. The decorator-ready unit comes with stainless steel appliances, a stackable washer/dryer and one assigned parking space. The east-facing loft has a view of Biscayne Bay and the Brickell skyline from the 30th floor.
With less than 10 units remaining, developer inventory at Infinity at Brickell is on the brink of being completely sold out. The last remaining developer units are being offered considerably higher than $300 per square foot. This could be your last opportunity to own at Infinity at Brickell for less than $300 per square foot. If interested, feel free to contact us with any questions or to schedule an appointment to view the unit in person. You can reach us via email at [email protected] or by phone at 305-428-3860.
BrickellHouse Renderings
Up until now, interior renderings for BrickellHouse have not been made available. Earlier today, however, I was able to get my hands on a few initial designs created by the award-winning interior design firm Yabu Pushelberg. Yabu Pushelberg has designed the interiors for a number of exceptionally high quality condominium developments in South Florida which include Apogee South Beach, W South Beach and the soon-to-be-opened St. Regis Bal Harbour. That should give you an idea of what to expect from BrickellHouse when it is completed in 2014.
These are hot off the presses. As you can see these were dated November 7, 2011 and were released to the developer earlier today.
MyBrickell Sales Officially Launch; Prices Start at $177,900
Last night’s gala introducing Karim Rashid, the world-acclaimed interior designer behind MyBrickell, marked the official launch of sales for the condo development. MyBrickell is off to a tremendous start with over one-third of the condos already reserved. That is quite an amazing feat given the fact that reservations were not being accepted until just 11 days ago. The level of success that MyBrickell has experienced thus far helps to understand the level of demand that still remains for new condo inventory in Miami.
MyBrickell will have a mix of studio, one bedroom + den, 2 bedroom and 2 bedroom + den units. Prices start at $177,900 which is excellent, in my opinion, given the current availability of Brickell condos in that price range. To put the pricing for studios into perspective, there are currently only 4 studios in Brickell priced under $200,000 for sale on the MLS. Two of those studio condos are located at The Four Ambassadors (built in 1968), one at Brickell Townhouse (built in 1963) and one at Brickell Bay Tower (built in 1964). Furthermore, two of the four listings are short sales. It goes without saying that MyBrickell will be a brand-spanking new condo development when it is completed and delivered in 2013 to those with reservations. I may not have a crystal ball, and cannot tell you with certainty where prices are headed, but I can pretty much guarantee you that there will be less condo inventory in Brickell in 2013 than there is now. Moreover, MyBrickell will be the only Brickell condo development to hit the market that year.
One of our clients attended the MyBrickell sales event last night and reserved a 1 bedroom + den. Her price – only $228,000! With pricing like that, it helps explain the rush by people to reserve condos at MyBrickell.
Below, you will find the price ranges for condos available at MyBrickell. The average price per square foot for MyBrickell hovers around $300.
Now that sales have officially launched at MyBrickell, you are able to receive pricing for specific units and reserve one immediately if you choose to move forward. Please refer to our MyBrickell profile page with renderings, building and unit information and pricing. There, you may also download the MyBrickell e-brochure as well as the reservation agreement and wire instructions. Feel free to contact us if you have any questions or an interest in reserving a condo at MyBrickell.
BrickellHouse Floor Plans, Info and Pricing
BrickellHouse is now accepting reservations. The 374-unit condo development will be located directly west of Jade and north of Emerald at Brickell at 1300 Brickell Bay Drive. BrickellHouse has several appealing features but there are two which will also make it rather unique. One, it will allow daily rentals but will not be considered a condo-hotel. The building will have on-site maintenance and housekeeping staffs as well as an in-house management program for owners who wish to rent their units on a daily, weekly or monthly basis. Owners will obviously first need to finish and furnish their decorator-ready unit in order to be included in the leasing program. You can read more about this program in the BrickellHouse brochure. The second unique aspect of BrickellHouse is the parking. The building will have a fully-automated parking garage.
The 46-story high-rise will have an array of lavish amenities which include:
- rooftop pool and sundeck
- fully equipped, state-of-the-art fitness center
- luxury health spa with sauna, steam and private treatment rooms
- High-definition theater room with 10-foot screen and theater-style seating
- Private owner’s lounge with event bar, catering kitchen and daily world newspapers
- Resort deck with putting green and summer kitchen
- 50-foot-long lap pool with poolside cabanas and heated Whirlpool spa
- Resident club room with conference and meeting rooms
- 24-hour concierge and security
- 24-hour guest valet parking
Additionally, Meat Market, a steakhouse on Lincoln Road in South Beach, has already signed on to occupy part of the retail space on the ground level of BrickellHouse.
BrickellHouse will be comprised of studio, 1 bedroom/1 bath, 2 bedroom/2 bath and 3 bedroom/3 bath units. The spreadsheet below will show you the approximate interior and exterior square footage for each. You can also refer to the BrickellHouse floor plans where you will also be able to view layouts for the BrickellHouse penthouses.
A full price list has not been released but the pricing below will give you a general idea for what one might be able to afford at BrickellHouse. Contact us if you have an interest in purchasing a unit at BrickellHouse and we will be able to get you pricing for other units.
Studios
- Unit 2212 (S3) – $163,900 west view
- Unit 1906 (S1) – $197,900 eat view – (420 sq ft under a/c)
1 bed/1 bath
- Unit 2507 (A7) – $276,400 east view
- Unit 2511 (A5) – $273,900 west view (790 sq ft under a/c)
2 bed/2 bath
- Unit 2507 (B4) – $435,900 east view
- Unit 2002 (B5) – $331,900 west view (1,116 sq ft under a/c)
2 bed + den/2 bath
- Unit 3008 (B1) – $424,900
3 bed/3 bath
- Unit 3002 (C1) – $683,900 (1,451 sq ft under a/c)
Contact us at 305-428-3860 or [email protected] to learn more about BrickellHouse.
