Panorama Tower Parts Ways With General Contractor Mid-Construction
image via Goldendusk Photography
Panorama Tower and Tutor Perini have officially parted ways, according to workmen on the site. Rumors had been swirling for weeks prior that there had been a problem with property damage after Hurricane Irma and that the proper insurance was not in place, causing upwards of $40 million in damage that was not covered by the policies that were in place.
The tower is still slated to open the first 48 floors in January, but there is no update on when the upper floors will become available, according to the leasing office. Many locals had reported that windows and doors from the project flew onto Brickell Avenue and into the pool at the neighboring Plaza at Brickell during the hurricane. That would mean that the building likely also sustained immense flooding from the affected units down, causing costly damage.
According to people on the site, FECR intends to complete the project itself rather than seeking out another General Contractor. In my opinion, this is for the best considering the fact that Mr. Hollo got his start as a successful contractor.
Missoni Baia To Break Ground This Week
When completed, Missoni Baia will bring 57 stories of ultra-luxury residences to the shores of East Edgewater.
The groundbreaking is scheduled for 5pm on Thursday, October 12 at the build site, 777 NE 26th Terrace. The first-ever Missoni branded condominium will feature a vibrant and colorful decor, even with a custom tile mosaic of the brand’s signature brightly colored stripes.
The residences range in size from 1-5 bedrooms and prices of the tower residences range from the $700,000’s up to $3.4 million. Penthouses have not yet been released. The development is slated for completion at the end of 2020.
Here is a teaser video that was released by the developer that shows the quality of the finishes and the amenities…
Elysee Lands $16.5 Million Construction Loan
Just months after the successful opening of Biscayne Beach, Two Roads Development has landed a $16.5 million construction loan that will fund the first phase of construction for Elysee, a boutique ultra-luxe tower just blocks away.
Work commenced back in March on the 124-foot-long seawall in order to prepare for the formal groundbreaking, and now with these additional funds granted by California-based Mosaic Real Estate Credit, LLC, the developers will be able to start bringing the 57 story project out of the ground. The first phase of development will include the site work, excavation, installation of pilings, and the pouring of the foundation.
Construction loans are notoriously difficult to obtain, and this is a very good sign for Elysee. Developers must prove to the lenders that they have a strong track record, well-capitalized sponsorship, a preferable location as well as consistent sales activity. Once the loan is obtained and dirt starts moving, the remaining inventory tends to sell faster, as buyers have increased faith that the project will come to fruition. Many buyers are also more willing to jump on board with a new development when they can physically see what they are buying. All in all, this is amazing news for Elysee.
One of the differentiating features of Elysee is the size of the residences. All of the homes are either half-floor or full-floor plans, offering a boutique/private feel. They will include floor-to-ceiling glass windows and sliding doors, private elevators and foyers, 10-12 foot ceiling heights, designer finishes and fixtures, premium appliances, top-of-the-line Italian cabinetry, as well as two expansive east/west-facing terraces with 180-degree sunrise and sunset views.
As of today, 45% of the project’s 100 units are in contract. Remaining residences range from $1.7 million to $4 million, at $639 to $800 per square foot. The penthouse collection has been dubbed “Les Grandes Maisons” and range from $2.8 million to $10 million.
Completion is slated for 2019.
VIDEO: Brickell Flatiron Reaches The 16th Floor
Despite reports that Brickell Flatiron had lost one of its tower cranes during Hurricane Irma, the project did not suffer damage and remains on track for completion in the summer of 2019. As of this week, they have reached the 16th floor of vertical construction and continue to build at a rate of one floor per week.
The development broke ground in March of 2016. After ten months of site work, the foundation was poured in January 2017 during a ceremonious 24-hour process. Sales have remained steady as well, with 70% of the units already under contract.
Tower Residences are currently available from $480,000 to $1.62 million. The Penthouse Collection offers residences from $980,000 to $1.78 million, and in July the opulent Upper Penthouse Collection was unveiled with prices ranging from $6 million to $15.5 million.
Here is a video update of their progress:
Brickell Flatiron | Construction Progress September 2017 from Brickell Flatiron Miami on Vimeo.
Resales At 1010 Brickell Hit The Market As Opening Day Approaches
The amenity-rich, Fannie-Mae approved and much anticipated 1010 Brickell is finally preparing to open, bringing 387 new neighbors to Brickell. Although the closing letters have been sent out with anticipated closing dates in August, we have been informed by the developers office that those dates could be delayed into September if the TCO does not arrive this week or next.
As was to be expected after what we have seen in other buildings that opened over recent months, resale listings have already started to appear on the market. There are currently 10 active listings, priced between $571,000 for a 932 square foot 1 bedroom on the 31st floor, up to $1.8 million for the 3 bedroom penthouse. Almost half of the available resales are in the 01 line, the big northeast corner plan with 3 bedrooms, a den, 3 baths and over 2,100 square feet. They are listed for between $1,479,000-$1,639,000. You can compare all of the floor plans here.
Another thing that grabbed my attention is the pricing of these listings compared with the price list that we happened to save when the building opened sales in 2013. Many of these sellers are offering their units far less than they were offered from the developer, which leads me to wonder whether they REALLY need to sell, or whether the developer gave them a REALLY great deal.
We will be watching the closings very closely and scheduling a tour as quickly as possible so that we can figure out which it is! In the meantime, check out this amenity list! Wow!
1010 Brickell Brochure by Sarah Elles Boggs on Scribd
ECHO Brickell Gets Its Sign
Construction is moving right along at PMG’s super-luxury tower, ECHO Brickell this week, and the sign has now been installed. The logo is reminiscent of the building’s signature shape, filled with black glass tile and surrounded by slate. The awnings and lighting features are also being installed.
Construction began on the Carlos Ott designed tower at the end of 2014, and is expected to be completed at the end of this year. Earlier this year, we were lucky to receive a hard hat tour of the progress & the views, including the $42 million Carlos Ott Penthouse. Prices of available residences range from $1.9 million to $19.7 million including a handful of one-of-a-kind custom designed floor plans.
Paraiso District Construction Update: Paraiso Bay Closings Set To Begin September 2017
The Paraiso District is now 97% sold and on the verge of opening its first building. Here is a breakdown of each tower with current photos of their progress…
Paraiso Bay – Although previously announced as “Sold Out”, we have received word that one unit has come available. This one is an 05 line with a direct bay view. It has 1,326 square feet with 2 bedrooms, 3 baths and a den. It is being offered for $934,900.
We had previously heard that the building was set to open this month, but opening day has been pushed to September. Delays at the end of the construction process are pretty common, so we’ll be sure to stay abreast of any changes.
Paraiso Bay Homes – Although not as heavily publicized as the towers, the Bay Homes are probably my favorite phase of the complex. They are located directly across the driveway from the Paraiso Beach Club and directly under the pool deck for Paraiso Bay and GranParaiso (with their own entrance). They are townhouse-style beach homes with an average of 4,000 square feet and 3 or 4 bedrooms. There are currently 3 remaining that are priced between $1.9 million up to $2.4 million.
Paraiso Bayviews – The most affordable tower is also nearly sold out, with an anticipated opening of January 2018 after topping off in April. There are now 5 condo residences available and 7 penthouses. The prices range from $420,000 for a 1 bedroom plus den with a garden view to $650,000 for a 2 bedroom with sunset/skyline views. In the penthouse levels, remaining opportunities range from $630,000 to $1.6 million.
One Paraiso – In our most recent construction update, One Paraiso had just topped off with two opportunities remaining… a 1,680 square foot 3 bedroom, 3.5 bath with bay and ocean views for $1.45 million and a 4 bedroom, 4.5 bath penthouse with 2,850 square feet and bay/ocean views for $2.85 million. Both remain available with opening day projected for February 2018.
GranParaiso – The final tower to be completed is also the one with the most inventory to choose from. GranParaiso has currently reached the 46th floor of 53 total. We should see top off early in the fall and final completion in the Spring of 2018. There are 18 condo residences available, ranging from $960,000 for a 2 bed, 2 bath plus den with bay & ocean views, up to $1.88 million for a 4 bed, 3.5 bath plus den with the same view.
There are also four remaining penthouses from $2 million to $3.1 million.
For specific unit numbers and prices (if not listed in this post), just send us a message. We’re always happy to help. As for the Paraiso Beach Club and Amenity Complex, they are both coming along nicely and scheduled to open just in time for the first residents’ move-in.
L’Atelier in Miami Beach Receives $57 Million Construction Loan
North Beach’s L’Atelier Residences, which broke ground in December of 2015, has received a $57 million construction loan to carry them through to completion of the boutique oceanfront development.
The super-luxury development is currently in the vertical stage of construction and expects to top off later this year. Residences are expected to be delivered in 2018. The project is currently 80% sold, with 5 units remaining priced between $3.6 million up to $4.5 million for flow-through residence and the $25 million oceanfront penthouse with 8,000 interior square feet and 8,500 square feet of outdoor amenities including a rooftop terrace with a 40′ foot private pool.
Have a look at their sales brochure, with more renderings of the apartments and a preview of the interiors by famed designer Holly Hunt.
L’Atelier Miami Beach Brochure by Sarah Elles Boggs on Scribd
Brickell Flatiron Unveils Penthouse Collection Priced $1M-$15.5M
Currently on the 10th, going on 11th floor of vertical construction with over $300 million in signed contracts, Brickell Flatiron has unveiled their dramatic penthouse collection designed by famed Italian architect Massimo Iosa Ghini. The penthouse apartments are located on floors 50-64 of the 700 foot tower and include a wide variety of layouts.
Expansive single story residences are priced between $1 million – $2.5 million. Upper penthouse duplex and triplex residences are priced from $6 million to $15.5 million. The upper penthouses will include rooftop pools and summer kitchens in addition to the upgraded finishes in all of the penthouse units.
The upgraded kitchens have Snaidero motorized cabinetry with customizable cabinet colors, Miele under-counter wine coolers and integrated appliances. The laundry rooms are outfitted with Bosch washers and dryers that have anti-vibration and noise-suppression technology. Every penthouse unit is fully equipped with state-of-the-art technology systems, including a private wireless network and a secure smart-lock system.
Have a look also at the latest construction update video, shared with us by Chris Suarez, our representative for the development:
Inside SLS Lux: June 2017 Construction Update
It has now been 6 months since we got to preview the views from the penthouses at SLS Lux with Carlos Rosso. Since then, they have been hard at work on the finishes and amenities in preparation for the big grand opening later this year.
Here is an update of their progress from Carlos’s Facebook.
This is a bath/shower of one of the suites.
An architectural accent in a hotel suite.
Katsuya and S Bar on the retail level.
Building the form set for the pool on the amenity level.
