One Thousand Museum Bulldozes Through 50 Percent Under Contract Mark
When it comes to sales as of late, One Thousand Museum has been kicking ass and taking names. While attending a VIP dinner event held at the One Thousand Museum sales gallery last Thursday, I learned that over 50 percent of the units at One Thousand Museum are now under contract. And I’m talking hard contracts here, each with deposits received and past their 15-day rescission period. From what I heard that night, sales had hovered around the 30 percent mark for a while but then, in the weeks following Art Basel and the developer’s brilliantly timed groundbreaking ceremony, it has been full speed ahead with no signs of slowing. Currently, the entry point to get in at One Thousand Museum is slightly over $5.5M, or $1,200 per square foot – although that may have changed since Thursday given that I learned yesterday that two new contracts were signed on Saturday. No word yet, however, as to which two units those might be. 50 percent under contract at this point is big news in and of itself, but what really blew my mind last Thursday night is that the developer already has six of the total eight full-floor residences under contract. The two remaining full-floor residences are priced slightly under $17.5M and $20M. With each having just under 10,000 interior square feet, those work out to be a little more than $1,750 and $2,000 per square foot respectively. That’s right folks, take a moment to process that small yet impactful piece of information and realize its significance, not only just for One Thousand Museum, but also for the Downtown Miami real estate market as a whole.
Since the beginning, I’ve been a huge believer in One Thousand Museum. It is great to see that buyers are finally starting to see One Thousand Museum for what it will one day become – a trophy property that will be revered by people from all over the world. Early last year, Wealth-X – “the world’s leading ultra high net worth (UHNW) intelligence and prospecting firm” – compiled and published their top ten list of Billionaire Skyscraper Homes. Coming in at the number nine spot was One Thousand Museum. As you will see below, One Thousand Museum finds itself in very good company, not surprising given the fact that the tower was designed by one of the most prolific architects ever – Zaha Hadid.
One Hyde Park (London) – Average Price Per Square Foot: US$9,906
432 Park Avenue (New York City) – Average Price Per Square Foot: US$6,742
One57 (New York City) – Average Price Per Square Foot: US$6,000
South Bank Tower (London) – Average Price Per Square Foot: US$3,300
Tour Odéon (Monaco) – Average Price Per Square Foot: US$8,900
Opus Hong Kong (Hong Kong) – Average Price Per Square Foot: US$10,740
56 Leonard (New York City) – Average Price Per Square Foot: US$6,000
Clermont Residences (Singapore) – Average Price Per Square Foot: US$2,360
One Thousand Museum (Miami) – Average Price Per Square Foot: US$1,100
One Madison (New York City) – Average Price Per Square Foot: US$5,000
For those who are unfamiliar with One Thousand Museum, be sure to watch the promo video below to see for yourself just how spectacular the luxury tower will look once completed. It will forever change the Miami skyline for the better and help catapult the city’s real estate market to even greater prominence around the world.
Below are two recently released renderings for One Thousand Museum along with a few shots of the development’s hologram box and a photo taken of the Luxe Living Realty agents who attended last Thursday’s exclusive dinner event. That night, Luxe Living Realty agents (myself included) were formally named sales ambassadors for the project, which, among other things, provides us with 24/7 access to the One Thousand Museum sales gallery. Yes, that means that if you have $49M burning a hole in your pocket, and feel compelled to schedule a 3am appointment to visit the sales center and write-up a contract for the full-floor, duplex penthouse, I would be able to accommodate you. I realize that the jet lag from those long, transoceanic flights can be horrible.
If you have any questions about One Thousand Museum and/or would like to learn more about pricing and availability, please call me on my cell phone at 786-247-6332 or contact me via email at [email protected].
Two New Websites Launched, More on the Way
Miami Condo Investments is pleased to announce the launch of two new building-specific websites – one covering condo sales and rentals at Icon Brickell and the other for those located at Ten Museum Park. The former is a completely new website packed with many unique features that you will not find anywhere else. For example, the website provides users with the ability to filter inventory by flooring type (e.g. wood, marble, carpet, ceramic, etc.) – such a simple yet powerful way to conduct a property search. It also provides users with the ability to filter inventory by number of parking spaces, whether the property comes furnished and/or unfurnished, as well as the usual ways to filter such as by price, number of bedrooms, and square footage. In creating this website, my main objective was to deliver an enhanced user experience, one that allows buyers/renters to quickly arrive at the properties best suited for them. Once you’ve had a chance to take the website for a spin, I am sure you will agree that my objective was accomplished. Also included is data for pending and closed inventory.
The second website – the one for Ten Museum Park condos – is a complete makeover of a website I previously had for that condo development. The design for the new version was carried over from the one created for Icon Brickell. Also included are the same, powerful search capabilities. Additional websites are well underway, including complete makeovers for my Miami Condo Investments, Marinablue, 900 Biscayne Bay, Marquis, and Paramount Bay websites, as well as a completely new website covering the Miami luxury homes for sale niche market. I look forward to providing you with the best website experience when searching for Miami real estate.
Whole Foods Market in Downtown Miami Has Finally Arrived!
It feels like it was an eternity in the making but the wait is finally over! The Whole Foods Market in Downtown Miami is finally open! Well, actually, the grand opening was yesterday but I didn’t get a chance to make my way over there until earlier this morning. I must say, I was thoroughly impressed! Whole Foods did an amazing job with the build-out. For juicing enthusiasts, such as myself, this location even has a JugoFresh inside the store. I’m a big fan of JugoFresh and their amazing juices, smoothies, and shots, so this was a wonderful surprise! Included here are a some photos I took while doing my shopping this morning. If healthy eating is a way of life for you, or even if it’s not, I highly suggest you check out the new Whole Foods in Downtown Miami located at 299 SE 3 St (at the base of the upcoming rental development called Monarc at Met 3). You won’t be disappointed!
New Renderings Released for Paramount Miami Worldcenter
Paramount Miami Worldcenter is one of just a few pre-construction condo developments of which I am eagerly awaiting to arrive. In my opinion, the designs, both interior and exterior, are a welcomed change from the overdone, drab designs we continue to see from other pre-construction condo developments in Miami. Recently, three new renderings were released, each conceptualizing different aspects of the development’s 12,000 square foot indoor and outdoor spa. The rendering shown above depicts the outdoor bath gardens while the two below illustrate its relaxation lounge and spa reception area.
The 12,000 square foot indoor and outdoor spa at Paramount Miami Worldcenter will include:
Outdoor Bath Gardens
Steam Room
Sauna
Yoga Studio
Treatment Rooms
Relaxation Lounge
Nail/Hair Bar
Word on the street is that pre-construction condo sales for Paramount Miami Worldcenter are going well and that the sales center, which is expected to open within the next month, is currently being built-out. The sales center will be located just a few short blocks from the construction site.
Work Begins on Front Entrance to the Upcoming Me by Melia Hotel at Marquis Residences
Work has begun on the front entrance to what later this year will become the Me by Melia Hotel. Yesterday afternoon, while out running errands in the neighborhood, I noticed fencing marking off the perimeter for the project. The area located immediately in front of Marquis Residences, and running parallel to Biscayne Boulevard, will see a complete redesign, including new landscaping. The rendering found at the end of this post shows what the finished project will look like. Notice the outdoor dining area and bar for the Rebel by STK restaurant. The one thing that Downtown Miami is lacking is a selection of fine dining options. Where others have failed, I hope to see Rebel by STK succeed. The neighborhood will see a complete transformation in coming years, so perhaps the timing is perfect.
Progress Marches on in Downtown Miami
These days, it seems as though changes in Downtown Miami are happening overnight. In some cases, they do. While out walking my dogs tonight, I noticed two significant changes that I hadn’t noticed just the night before. (1) The Downtown Miami Pawn Shop has been obliterated. In fact, with the exception of some support beams and small overhang from what remains of the gas station, the development site of One Thousand Museum is free of all standing structures. (2) Miami Worldcenter banners are now wrapped around various fenced off lots marking the parameter of the development site for The Mall at Miami Worldcenter. One of the images on the banner shows a rendering of the upcoming Paramount Miami Worldcenter which is slated to break ground in the second quarter of 2015. It is a very exciting time for this burgeoning neighborhood. Three years from now, in many respects, Downtown Miami will be unrecognizable.
Ten Museum Park Pet Policy Change
At a recent board meeting, the Residential Board of Directors for Ten Museum Park voted and passed to overturn the pet policy. Once again, renters will be permitted to have a maximum of two pets per unit with a combined total weight not to exceed 100 pounds. All unit owners and renters will required to fill out a pet registration form, submit a photo of their pet(s), and remit a non-refundable $50 pet fee per pet. The policy change will go into effect starting December 19, 2014.
In my opinion, this is great news for unit owners in the building, especially for investors. There have been so many times that I have had to turn away prospective renters from Ten Museum Park simply because they have a pet. Up until around August 2013, Ten Museum Park had been a pet-friendly building and a favorite among pet owners due to its open floor plans. The change should increase rental demand for units at Ten Museum Park, which should in turn have a positive impact on rental prices. As it stands, rental inventory is low in the building. Currently, there are just 6 units available for rent at Ten Museum Park of 200 total units. With the newly opened, $40M Museum Park right across the street, I am sure Ten Museum Park will once again be a favorite among dog owners.
Just Listed – Unit 2402 at Ten Museum Park – Asking $969,000
I am pleased to introduce my newest listing at Ten Museum Park – unit 2402 – a beautiful 2 bedroom, 2.5 bath, bi-level loft with over 1,800 interior square feet and a private balcony overlooking the newly opened Museum Park. The property features soaring 20-foot ceilings with floor-to-ceiling glass windows; stainless steel appliances by Sub-Zero, Miele, and Bosch; a Terrazzo-topped custom kitchen island; utility room with full-size washer and dryer; a full glass-enclosed shower with rainfall shower head; and direct, unobstructed views of the Atlantic Ocean, Biscayne Bay, and Miami Beach skyline.
As of this posting, unit 2402 is the best priced unit in the building among those that offer a direct water view. As you may recall, I recently listed and sold unit 1802 – a 2 bedroom located six floors directly below unit 2402. That one received multiple offers and went under contract within 7 days. With peak season right around the corner, I am confident that interest in this property will be equally as great.
Below, you will find additional photographs of unit 2402 at Ten Museum Park. If you or someone you know have an interest in viewing this property in person, please contact me via email at [email protected] or on my cell phone at 786-247-6332.
Paramount Miami Worldcenter – Now Accepting Reservations!
The moment has finally arrived – reservations for condos at Paramount Miami Worldcenter are now being accepted. In this initial offering, the developer is releasing just 60 of the tower’s 470 total units. Each residence at Paramount Miami Worldcenter will have 10-foot ceilings, a private elevator, and either 11-foot or 14-foot deep terraces. To give you sense for the size of the terrace space, they are as large or larger than most master bedrooms in Miami. The floor plans are huge! The smallest 1 bedroom condo has 1,294 interior square feet; the smallest 2 bedroom condo has 1,690 interior square feet; and the smallest 3 bedroom condo has 2,320 interior square feet. Paramount Miami Worldcenter reminds me of something out of Las Vegas mixed with Time Square. I will have the renderings within the next couple of days. Be ready to be impressed. This development is truly remarkable. Contact me for additional details.
Paramount Miami Worldcenter will rise 700 feet and include 466 total residences comprised of the following mix of units:
1 bedroom + den/2 bath (ranging from 1,294 interior square feet to 1,386 interior square feet) – starting at $690,000
2 bedroom + den/3 bath (ranging from 1,630 interior square feet to 1,753 interior square feet) – starting at $980,000
3 bedroom + den/4 bath (ranging from 2,320 interior square feet to 2,376 interior square feet) – starting at $1,400,000
Villas (will be released at a later date – located on the 9th floor; private swimming pool and rooftop Jacuzzi; approximately 3,000 interior square feet) – TBD
Penthouses (will be released at a later date – located on floors 46 through 54) – TBD
Below is the Paramount Miami Worldcenter building floor plan key for condos located on floors 11-45:
Below are the floor plans for condos at Paramount Miami Worldcenter. They are displayed in order starting with the 01 line and ending with the 12 line. Take note of the size of the terraces (AKA “outdoor living rooms”).
Amenities at Paramount Miami Worldcenter will include the following:
9th Floor Amenities
Conservatory
Recreation Lounge
Outdoor Lounge
State-of-the-art Fitness Center
Boxing Studio
Aerobics Area
Treatment Rooms
Hair/Nail Bar
Outdoor Bath Gardens
Kids Play Room
Video Game Play Room
Social Lounge (Pool Table, etc.)
Karaoke/Jam Room
Recording Studio
10th Floor Amenities
Resort-style Pools with In-pool Cabanas
Walking Paths
Picnic/BBQ Areas
Yacht Skyview Deck amenities located at the very top of Paramount Miami Worldcenter
Skyview Lounge
Pool
Bar
Yoga Deck
Deposit schedule for Paramount Miami Worldcenter is as follows:
10% at reservation – NOW
10% at contract (1st quarter of 2015)
10% at groundbreaking (2nd quarter of 2015)
10% at 8th floor (4th quarter of 2015)
10% at top-off
50% at closing (Summer 2018)
Paramount Miami Worldcenter development team:
Developer – Daniel Kodsi, Art Falcone, and Nitin Motwani
Architect – Elkus Manfredi Architects
Interior Design – ID & Design International
The following videos provide an overview of the Miami Worldcenter Master Plan which includes not only Paramount Miami Worldcenter but also The Mall at Miami Worldcenter:
Paramount at Miami Worldcenter – Preconstruction Condo Sales Coming Soon
The moment is almost upon us – a moment that has been in the making since 2008 when the Miami City Commission approved a development agreement with Miami Worldcenter and endorsed its Master Plan for Downtown Miami. Fast forward to the present and that Plan is about to become a reality. Spanning nearly 30 acres with projected costs over $1.5B, Miami Worldcenter will be the second largest urban development in the United States. It will include 765,000 square feet of signature retail anchored by Bloomingdale’s and Macy’s, 4.5 acres of open space, 7,000 new parking spaces, and an ultra-modern Marriott Marquis World Convention Center Hotel with 1,800 rooms, 600,000 square feet of convention space, and an 80,000 square foot outdoor event deck. To top it all off – literally – the Master Plan for Miami Worldcenter will include multiple residential towers with over 1,000 units.
The first residential tower to launch will be Paramount Miami Worldcenter – a luxury condo development rising over 700 feet with 60 stories and 466 total condo units. Yesterday evening, along with a few of my close clients, I received a full presentation and must say that I was blown away. I am not at liberty to divulge much else in such a public forum but will say that that Friends & Family pricing is set to launch in the coming weeks followed by a more public launch towards the end of this year. If you have even the faintest of interest, please do not hesitate to contact me for additional details. You may reach me at [email protected] or on my cell phone at 786-247-6332.
To give you a better sense for Miami Worldcenter’s Master Plan, I have included a few videos below:
