Week in Review: How to Avoid the Federal Disclosure Law for Cash Purchases and Other News…
Rendering from Paramount Miami Worldcenter
Week of January 17-23, 2016.
The US Treasury announced this week that starting in March, title companies will be required to disclose the identities of buyers to government regulators for all cash purchases above $1 million in Miami’s residential real estate market. They are hoping to put a stop to illicit funds being laundered through the cash purchases, but effectively are also spooking legitimate buyers who simply do not wish to have their buying habits publicly disclosed.
Fear not, fancy condo shoppers. The ink is not even dry on the new order and The Real Deal has already compiled a list of 7 ways that the rule can be circumvented. [The Real Deal]
Last week, the developer of Miami Worldcenter announced that it is scrapping the plans for an enclosed mall just days after Macy’s announced multiple store closings due to slow sales. After this announcement Taubman and Forbes cancelled their contract with Worldcenter, causing a flurry of rumors and news stories stating that the project would be scrapped. It turns out that everyone jumped the gun. According to the developer and this Taubman release, the project is not scrapped. The contract just needs to be renegotiated to reflect the new building plans. [Zacks]
While everyone was up in arms about the potential drama at Miami Worldcenter, Brickell CityCentre released their updated list of all retailers, shops and restaurants that will be opening with the mall. The shops will begin individual build-out soon and is scheduled to open later in the year. [The Next Miami]
In possibly the least surprising news of the week, Car2Go finally announced that they are suspending service effective March 1. They say that the reason for the service-shuttering is low ridership and high state taxes, locals have not wasted time or minced words with their own theories. It seems they have been in trouble with their client base for some time due to poor handling of a PR incident involving a drunk driving accident, not offering service in many important areas of the community, poor customer service and unreliable service. We think it can be easily explained by simple economics… why pay more to drive yourself in a shared smart car with a complicated service when you can pay less and have an Uber car pick you up at your doorstep and drop you off wherever you want to go? The choice is simple. [Curbed]
Miami Worldcenter Opts for Open-Air Shopping; Residential Amenities Remain Unchanged
News spread earlier today that Taubman has opted to turn Miami Worldcenter into an open air shopping mall rather than the originally planned enclosed mall. We found this to be great news, as open air malls have been more sought after by shoppers in recent years, leaving hoards of enclosed malls vacant and in need of redevelopment throughout the country. The open air plan will also likely be less costly to build.
The shopping center had been slated to be anchored by Macy’s and Bloomingdale’s, although it is not clear at this moment whether they are still on board. Just last week, Macy’s announced it would be closing 40 stores due to dismal holiday stores.
Construction is already underway on Paramount Miami Worldcenter, the luxury residential component of the development. Many people have contacted us regarding these changes and how they affect the condo portion. The developer has reassured us that the changes in the retail component will not affect the amenities slated for Paramount.
Dwyane Wade’s Downtown Miami Penthouse is For Sale
For just $2,995,000 you too can sleep in the same bedroom once occupied by Dwyane Wade himself. Back in 2011, the developer of Vizcayne Condominium in Downtown Miami outfitted the penthouse especially for Mr. Wade’s use. The property was later sold to an investor from Miami Beach who sold it to an investor from New York who is now happy to sell it to you.
The photos provided to us by the MLS are not the high-quality ones that we typically like to see in a $3 million penthouse, but the features are. The apartment spans 3 floors on top of Vizcayne’s North Tower and includes 3 full bedrooms, 5.5 bathrooms, 2 living areas, a study, sky loft and 5 terraces with one being on the roof overlooking the AA Arena where Mr. Wade works.
Inside the building itself, residents enjoy over-the-top amenities. The pool deck includes 3 resort style pools, a sunset pool, Jacuzzi and catering bar. Inside the amenity center is a fitness center & spa that rivals even some of the popular chain gyms, a movie theater, game rooms, business centers, board rooms and a padded jogging deck with a view of the Biscayne Bay. There is also 24 hour doorman, valet and security.
The current owners certainly seem excited to part with their investment, offering incentives for a quick closing and even offering to lease the property for $12,900/month. Have a look below at the additional photos courtesy of the MLS and floor plan:
Week in Review: Brickell City Centre Reveals Climate Ribbon & Other News…
Week of December 6-12, 2015.
We survived the 13th Art Basel in Miami Beach, drawing record breaking crowds as well as record breaking rain. Despite weather and crowd-related delays and a bit of drama, the yearly art fair drew an estimated 77,000 visitors from around the world and the festival was a success. [NY Times]
Brickell City Centre put a pause on construction to host a beautiful party unveiling their $30 million climate ribbon. The ribbon is designed to filter the tradewinds from the Biscayne Bay into the development, cooling the shoppers and redirecting rain water to the landscaping. [Curbed Miami]
PMG gained approval to build a 1,049 ft tower at 300 Biscayne Boulevard. This would make the new tower even taller than the originally planned 93 story Empire World Towers that was previously proposed for the site. [The Next Miami] The original plan for Empire World Towers was abandoned after the original developers were sent to prison for tax evasion and fraud. [South Florida Business Journal]
Miami Riverfront land is one step closer to being a more usable & pedestrian friendly shopping/culinary destination. Riverside Wharf would have a fish market, restaurants and a public riverwalk. [Miami Today]
Speaking of the Miami River area, David Beckham finally found a spot for his new soccer stadium. The new & approved location is in Overtown, just bordering the Miami River District and close to highways, public transportation and Downtown Miami. The area has often been overlooked until now, we are excited to see the changes that the stadium will bring! [ESPN]
Moishe Mana has been busy in Downtown Miami. He closed on two more sites this week and now owns over 800,000 square feet of space in the area. We can’t wait to see his plans once he reaches his goal of acquisition in the area near Flagler Street in the historic area of Downtown Miami. [The Next Miami]
16 Units at Met 1 Offering One Month Free Rent as Incentive
For those in search of a condo to rent in Downtown Miami, you may want to consider Met 1. Currently, an owner of 16 units there is offering one month free rent as an incentive to qualified renters – a pretty sweet incentive if you ask me! It’s uncommon to come across such an incentive for units in a condo development, especially one for so many units, so get it while you can!
The 16 units are a mix of 1 and 2 bedroom units, most of which include at least partial water views. Some of the units have carpet while others have tile throughout. Additionally, included in the rent price are basic cable TV, Internet, water, and one assigned parking space.
For those unfamiliar with Met 1 and/or are new to Miami, Met 1 is ideally located in Downtown Miami at 300 South Biscayne Blvd – just one block from the new Whole Foods and directly across the street from the Miami Riverwalk. The amenities at Met 1 include: a pool, hot tub, fitness center, men’s and women’s sauna, full-service concierge, valet parking, and much more.
To give you an idea as to what the units look like, I’ve included below photos that I took earlier this afternoon for 3 of the 16 available units (2201, 2914, and 3108). If you are in the market to rent a unit in Downtown Miami and would like to consider these as options, please contact me to schedule a showing. I can be reached via email at [email protected] or on my cell phone at 786-247-6332.
Unit 2201 – $2,100 per month
1 bed/1.5 bath corner unit with 790 interior square feet + balcony
Unit 2201 at Met 1 is a 1 bed/1.5 bath corner unit with beautiful views of the city and partial water views. The unit feels much larger than its stated 790 square feet. I love the fact that it has a window in the kitchen. I cook regularly at home, so that’s a big plus in my book.
Unit 2914 at Met 1 is a 2 bed/2 bath unit facing direct east and offering partial views of Biscayne Bay and the Miami River. It has tiled flooring throughout and balcony access off the second bedroom.
Unit 3108 – $2,850 per month
2 bed/2 bath 1,091 interior square feet + large balcony
Unit 3108 at Met 1 is a 2 bed/2 bath unit facing south and offering views of Biscayne Bay, the Miami River, Brickell Key, and Brickell. The balcony curves along the width of the unit with access from all rooms. The views from this unit are phenomenal!
Marina Blue Open House Thursday, July 2nd
Tomorrow, July 2nd (Thursday), from 12pm to 2pm, I, along with another agent, will be holding a progressive open house at Marina Blue. Units 5602 (pictured above), 3609 (pictured below), and 4809 will be open to the public. Please join us to tour these three magnificent condos, each offering breathtaking water views. Marina Blue is located at 888 Biscayne Blvd (at the corner of Biscayne Boulevard and Northeast 9th Street). Valet parking is located on the north side of the building. Refreshments will be served.
Unit 5602
Asking $825,000
2 bed/2.5 bath condo with 1,331 interior square feet
Turnkey furnished with over $250,000 in upgrades, furniture, lighting, electronics, and artwork
Throughout my career, technology has played an instrumental role in the success of my business – from implementing the latest website technologies to launching mobile apps for the Miami condo market. One such technology that has been a mainstay in my business is video. Since at least 2006, I have incorporated video in my real estate business to capture and market properties online. Back then, to capture a video tour of a property, I would strap a digital camcorder to a tripod and push it around on dolly wheels. Since then, not only has video technology improved significantly but the means with which to capture footage has seen major advancements as well. Perhaps the most notable of these advancements is drone technology. By attaching an HD camera to a drone, one is able to capture breathtaking shots from way up high. It also is a fabulous way to provide geographic perspective to an online audience who may not be familiar with the location of a property.
Over the past year, I’ve been waiting for the perfect opportunity to integrate aerial footage captured via drone to my marketing arsenal. My recent listing of unit 5602 at Marinablue – a turnkey furnished 2 bedroom condo located just one floor below the penthouse level – seemed more than ideal. The video above demonstrates the power of drone technology in capturing stunning footage from the skies above. After watching it, I am sure you will agree that drones and real estate are a match made in heaven.
Marinablue is located at 888 Biscayne Blvd in Downtown Miami – directly across the street from Museum Park.
Welcome to excellence! Designed with precision, Marina Blue unit 5602 is an impeccable residence offering some of the very best, awe-inspiring views of the Atlantic Ocean, Biscayne Bay, Port of Miami, and Downtown Miami skyline. Over $250,000 in upgrades, furniture, lighting, electronics, and artwork. Located on the 56th floor, unit 5602 features hard wood floors; motorized shades; blackout curtains; custom lighting; artwork by acclaimed artists; large, custom-built walk-in closets in both bedrooms; and a state-of-the-art electronics package, which includes a 3D TV, Blu-Ray 3D player, Bose surround sound system, and security camera system with remote viewing capability.
Very unique floor plan. Only 5 of its kind in the entire building. One of just a few units in all of Downtown Miami offering a direct water view and balcony access from BOTH bedrooms. In almost every other case, the view from the second bedroom faces west (away from the water) and/or does not have balcony access. The same can be said for most 3 bedroom units throughout Downtown Miami. Having an amazing water view is one of, if not, the biggest reasons to buy a condo in Miami, so why not buy a condo which would afford you the opportunity to enjoy the breathtaking views from EVERY room?
If you’re in search for the very best, look no further! Contact Lucas Lechuga for showings. I can be reached on my cell phone at 786-247-6332 or via email at [email protected].
New Renderings and Video Released for Paramount Miami Worldcenter
Earlier today, new renderings were released for Paramount Miami Worldcenter. As I am sure you will agree, the renderings are nothing short of spectacular! I am especially impressed with the first two renderings shown below – the Lobby and Skydeck Infinity Pool.
There’s no doubt in my mind that Paramount Miami Worldcenter has the makings to be one of Miami’s most distinguished condo developments. In the coming weeks, preconstruction sales for Paramount Miami Worldcenter will formally launch to the public. If you or someone you know have an interest in reserving a unit, I can get you in now, before the rush, at “Friends & Family” pricing. Prices start at $550 per square foot. Contact me for details at [email protected].
At the very bottom of this post is a new, full-feature demo video for Paramount Miami Worldcenter ,which was also released earlier today. Enjoy!
Paramount Miami Worldcenter Amenities / Common Areas
Paramount Miami Worldcenter Residences
Paramount Miami Worldcenter Exterior
Paramount Miami Worldcenter Video
Exclusive, First-Look at the $2M Sales Center for Paramount Miami Worldcenter
Earlier today, I was given an exclusive, first-look at the $2M sales center for Paramount Miami Worldcenter. Wow! That was the first word out of my mouth as I entered the stunning, two-story showroom. Immediately, my eyes caught sight of the massive, wall-sized video display – such an impressive way to present the development. While there today, I was given the opportunity to watch on the big screen an unreleased video for Paramount Miami Worldcenter. I swear, the video gave me chills. It does an amazing job of conveying to the viewer just how spectacular Paramount Miami Worldcenter is going to be once it is completed. Not only that, it gives you a glimpse into the future of what is yet to come for the neighborhood. People are going to be super impressed with that video once it is released to the public.
The sales center, which is still a work in progress, is expected to be completed and opened to the public by the end of this month. At that point, preconstruction prices are expected to increase to coincide with the launch of sales to the public. Currently, units can only be reserved through the developer’s friends and family program. With prices starting at $550 per square foot, there are still a number of great options remaining. If you have an interest in learning more about Paramount Miami Worldcenter, please do not hesitate to contact me. I can be reached on my cell phone at 786-247-6332 or via email at [email protected].
