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).
Drone Footage of the SLS Lux Rooftop Pool (Video)
While Related puts the finishing touches on the uber-amenities at SLS Lux, I wanted to share with everyone a new aerial drone video showcasing its 57th floor rooftop pool deck and 9th floor garden level amenities deck. Although Related received its temporary certificate of occupancy (TCO) for the upper floors last month, the sky lounge and rooftop pool deck have yet to officially open in order to allow the developer adequate time to properly furnish those spaces. In the video below, you will notice that the rooftop pool has been filled with water and has five poolside umbrellas around it but is missing lounge chairs. On the 9th floor amenities level, it’s good to see that the multi-purpose court is nearly finished.
For those curious about how the inside of this beautiful development looks, be sure to check out my photo tour of SLS Lux, which is filled with hi-res photos of the SLS Lux Brickell Hotel, on-site restaurant and bar, and building amenities. And if you’re curious to see the finishes of an actual condo residence at SLS Lux, be sure to check out my photo tour of unit 2009, which I listed for sale on April 26th and got under contract in just six days!
New Renderings Unveiled for Una Residences
Spa
Earlier this week, the Miami Condo Investments Team was invited to the Una Residences sales center to receive a special presentation for Brickell’s only waterfront preconstruction development. Not only did we have an opportunity to see first-hand the kitchen and bathroom finishes, we also had an opportunity to view the newly released renderings and see for ourselves some of the views that the development will offer.
Pre-sales for Una Residences launched a few months ago and the development has been very well received. The 47-story tower was designed by Adrian Smith + Gordon Gill (AS+GG) and is being developed by OKO Group. Completion of Una Residences is slated for summer 2021.
private boat slips
lobby
Kids’ splash-pad area
terrace
level 3 lounge
Kids’ playroom
A First Look at Panorama Tower
I recently had the pleasure of attending a group tour of the 49th floor at Panorama Tower: the 85-story mammoth development located at 1101 Brickell Avenue, encompassing a newly opened luxury rental community, along with (eventually) hotel, retail, and office space. Given that the building received its first TCO (temporary certificate of occupancy) only a few days prior, I was told that it was a special VIP treat to get a ride up the elevator and actually view rental units in person. While a construction manager escorted us to the appropriate floor, the leasing specialists delighted in no longer needing to don hardhats and work boots to visit the tower, also noting that air conditioning was a brand new addition.
Even completely empty, the 2-story lobby felt every bit as grand as it should in a building of this magnitude, as did the enormous porte-cochere. The elevator ride to 49 was amazingly quick. The construction manager beamed with pride while he praised the elevator’s security features and explained that guests must be granted specific access in order to get anywhere in the building. While I can’t speak for the other sections of the building, the elevator lobby we used to access floor 49 housed a total of 8 high-speed elevators. According to the floor plan map in the brochure, floors 23 through 51 (otherwise known as City Levels) offer only 1 and 2 bedroom residences – whereas floors 53 through 84 (the Sky Levels) offer 1, 2, and 3 bedroom units.
The 1 and 2 bedroom floorplans I viewed were surprisingly spacious. Whereas new construction condos in Brickell seem to trade living area for amenities, at Panorama, I found large living rooms, bedrooms, closets, and dens. Though kitchen islands were somewhat brief, overall kitchen storage seemed adequate, and the quality and colors of the finishes rival some of the pricier new buildings of greater downtown Miami. Floor to ceiling glass highlighted some breathtaking views of Biscayne Bay and Coconut Grove, and I couldn’t help but wonder how they’d look from the 85th floor. The 868-foot tower is currently the tallest residential tower south of Manhattan, so views that high will stretch as far as the eye can see.
All in all, I was impressed by what I saw on the 49th floor of Panorama Tower (especially of the floor plans and views) and would be excited to see more. I was told that amenities will be opening over the next few weeks, including a pool on the East side of the building that will be shared with the onsite hotel, and a larger one on the Westside that will be exclusive to residents. Other amenities include a poolside cafe & bar, fitness center, spa, yoga & pilates studio, two social lounges, a “muse” room/music studio, three private movie theatres, private dining and entertainment rooms, children’s playroom, personal wine lockers, billiards room, onsite pet daycare/grooming/boarding, and a cyber cafe/coffee bar.
The leasing specialist mentioned at the end of our tour that pricing will be going up next week, but at the time of this writing, the most affordable unit available is a 1 bed plus den, 1.5 bath residence on the 30th floor, featuring city views and 1,161 square feet for $2,856 per month. The most affordable unit on the water-facing side of the building is a 1 bed plus den, 1.5 bath residence for only $2,912 per month, with 1,142 square feet and located on the 34th floor. I was also told that previously scheduled move-ins were just beginning, and that depending on the unit, some of the earliest available move-ins going forward would be mid-July. To learn more about renting a luxury apartment at Panorama Tower, contact [email protected] or call 305-428-3860.
SLS Lux Brickell Hotel To Open June 4th
In a newsletter sent yesterday to owners of the newly opened SLS Lux Residences, it was announced that the SLS Lux Brickell Hotel will open on June 4th. The poolside bar located on the 9th floor of the building will begin operation that day as well, with food and beverages available for purchase to residents and hotel guests.
SLS Lux Brickell Hotel guests will have access to a myriad of amenities including: a 75-foot lap pool, separate 112-foot beach-entry pool, poolside cabanas, poolside bar, state-of-the-art fitness center, full-service spa, full-service concierge, and much more.
Fleming’s Prime Steakhouse & Wine Bar at Brickell World Plaza Opens March 26th
The classic and nationally acclaimed Fleming’s Prime Steakhouse & Wine Bar is set to join a long list of first-class dining options located in the Brickell neighborhood later this month. Fleming’s at Brickell World Plaza will open its doors on March 26th, offering guests an award-winning wine program, local chef features, prime cuts of meats, chops, and poultry, and hand-crafted cocktails.
The impressive, two-story glass storefront is located at 600 Brickell Ave, Suite 150, less than a block from Brickell City Centre. The space features a 12-foot high all-glass wine room, vaulted ceilings, and an ambiance that is comfortable, yet sophisticated. The main dining room will offer booth seating and views of the kitchen. A beach-inspired quartz stone will welcome guests to the bar, and a convertible patio will serve as an outdoor dining area. Fleming’s has also commissioned three large paintings from Miami-based artist, Alex Mijares, as well a piece from Cuban-born Mari Carmen Fernandez that is 20 feet tall.
From weekday lunch offerings, to VIP dining and private events, Fleming’s will suit nearly any occasion. “Prime Happy Hour”, weekdays from 5-7pm, will no doubt become a Brickell night-life institution; along with Fleming’s “Late Night Lounge”, open Sunday-Wednesday until 12am and Thursday-Saturday until 1am.
Chef Partner Carlos Sanz and Operating Partner Edward Everette will lead the new restaurant, adding to the 70 Fleming’s locations nationwide (and one in São Paulo, Brazil). We think the well-known and highly praised Fleming’s Prime Steakhouse & Wine Bar is the perfect addition to Miami’s downtown professional and banking district, and can’t wait to check it out ourselves!
Pricing, Floor Plans and Renderings for Una Residences by Adrian Smith + Gordon Gill
New construction is coming to “Old Brickell”! We are pleased to introduce Una Residences, Brickell’s only bayfront preconstruction condo development. Once completed, Una will be the first waterfront development built in South Brickell (south of SE 15th Road) in over 20 years.
Una Residences is being developed by OKO Group, which is also developing Missoni Baia in Edgewater, and Cain International. The design architect for Una Residences is Adrian Smith + Gordon Gill Architecture (AS+GG). They will also be designing the interiors and common area spaces at Una Residences. The landscape architect for Una is Enzo Enea with Revuelta Architecture International acting as executive architect.
Una will rise 45 floors and have only 135 luxury condo residences, each with private elevator, chef’s kitchen, 10′-8″ high ceilings with floor-to-ceiling windows, and fabulous water views. Una will be comprised of two-, three-, four-, and five-bedroom residences ranging in size from 1,100 to 4,786 interior square feet. The development will be topped off with two spectacular penthouses, each with a private pool and 11′-7″ to 12′-4″ high ceilings.
During this Friends & Family pricing period, prices for units at Una range from $900,000 to over $5,000,000.
Additional Renderings of Una by Adrian Smith + Gordon Gill (AS+GG)
Una Residences Floor Plans
Una Residences Fact Sheet
Buyer Deposit Schedule for Una Residences by Adrian Smith + Gordon Gill (AS+GG)
Miami is Getting its First Italian Food Hall
Whether you’re on the run looking for a quick espresso and freshly baked bread or looking to indulge in wine tastings and cooking classes, La Centrale – located at Brickell City Centre – will soon be able to offer you all of this and more.
The three-story, 38,000-square foot space will be comprised of 14 different dining areas, offering a wide variety of Italian treats. The first floor will be home to a café, mercato and pizza bar. If you’re looking for more of an authentic Italian meal, the second floor will have three Italian restaurants and gelateria – because you simply can’t have an authentic Italian meal without gelato! Finally, the third floor will have a wine shop to go along with wine tastings, and cooking classes led by experienced chefs.
At La Centrale, you’ll be able to enjoy different regions of the peninsula known as the “Bel Paese”. From Tuscany and Sardinia to Sicily and Puglia, the many tastes of Italy will be yours to savor!
Casa Tua Cucina in Brickell City Centre is Officially Open
