Just Listed – Unit 1708 at Ten Museum Park – Asking $355,000

Unit 1708, pictured above, is the second of two condos I recently listed at Ten Museum Park.  It shows beautifully and has already grabbed the attention of several interested buyers.  The 1 bedroom, 1.5 bath residence has 808 livable square feet, 143 square feet of balcony, a custom glass divider to separate the living room from the bedroom, wood flooring throughout, full-size washer and dryer, and stainless steel appliances by Sub-Zero, Miele, and Bosch.  It also features 10-foot ceilings with floor-to-ceiling glass windows, a full glass-enclosed shower with rainfall shower head, built-out closets, and captivating views of Biscayne Bay.  Priced at $355,000, unit 1708 is currently the second best priced property in the building.

If you or someone you know have an interest in viewing this unit in person, please contact me via email at [email protected] or on my cell phone at 786-247-6332.

Below, you will find additional photographs of unit 1708 at Ten Museum Park:

Ten Museum Park Unit 1802 Under Contract in 7 Days

Well, that didn’t take long.  Unit 1802 at Ten Museum Park is now officially under contract.  I received multiple offers within 3 days and got it under contract in just 7 days.  It goes to show that in today’s market a property will sell quickly provided that it is priced correctly and well presented.  This property showed beautifully, and I’m sure a month from now the buyers will be very happy in their new home.

Just Listed – Unit 1802 at Ten Museum Park – Asking $915,000

I am happy to announce that I recently got the listing on two beautiful units at Ten Museum Park.  The first unit, which is pictured above, is a stunning 2 bedroom, 2.5 bath, bi-level loft with over 1,800 interior square feet and a deep, spacious balcony overlooking the newly opened Museum Park.  The ultra-modern unit features a clean, chic design; soaring 20-foot ceilings with floor-to-ceiling glass windows; stainless steel appliances by Sub-Zero, Miele, and Bosch; full-size washer and dryer; a full glass-enclosed shower with rainfall shower head; and direct, unobstructed views of Biscayne Bay and the Miami Beach skyline.  Priced at $915,000, unit 1802 is currently the best priced unit in the building among those that offer a direct water view.  If you or someone you know have an interest in viewing this unit in person, please contact me by email at [email protected] or on my cell phone at 786-247-6332.

Below you will find additional photographs of unit 1802 at Ten Museum Park.  Later this week, I will post information and pictures of my second listing at Ten Museum Park – a beautiful 1 bedroom, 1.5 bath loft.

Miami Heat Point Guard Mario Chalmers Lists 5 Bedroom Condo at Marquis Residences for $4M

Yesterday, the Los Angeles Times reported that Miami Heat point guard Mario Chalmers recently listed his 5 bedroom condo at Marquis Residences for $4M.  The combined floor plan is situated on the 49th and 50th floors of the northeast corner of the building and offers a direct view of Biscayne Bay, the Atlantic Ocean, and Miami Beach skyline.  Consisting of 5,475 interior square feet, the bi-level condo includes 5 bedrooms, 5 baths, a game room, wet bar, state-of-the-art kitchen, and 2 laundry rooms.  Also, included in the sale are 4 assigned parking spaces.

In March 2012, Chalmers purchased the luxury condo from hip-hop/rap artist Drake for $2.6M.  Drake had purchased the side-by-side units in 2011 then later combined them.

Marquis Residences is a luxury condo development located in Downtown Miami.

Museum Park Opening Ceremony

After 14 years and around $40M, Museum Park officially opened this morning.  The people of Miami were in attendance to show their support and appreciation.  City of Miami Mayor, Tomas Regalado; City of Miami Commissioner, Marc Sarnoff; and Superintendent of Miami-Dade County Public Schools, Alberto Carvalho; each spoke at the opening ceremony which was marked by the arrival of the iconic United States Coast Guard Cutter Eagle.

As a long-time resident of Miami, the opening of Museum Park is almost surreal to me.  It had been talk for so long that it was hard to believe at times that it would actually ever happen.  However, the day has finally arrived and, I must say, the park is spectacular.  It is such a beautiful gift not only to the people of Miami but also their four-legged friends.  It is fair to say that prior to today’s park opening, much of Downtown Miami was a concrete jungle.  Now the children and dogs of Miami have a place to run around and play.  I personally do not have any children but am a proud owner of a Miniature Schnauzer named Lucky.  A few days ago while walking him at Museum Park, I asked Lucky how he enjoyed the new park.  His response says it all.

Below are other pictures I took from this morning’s Museum Park opening ceremony:

Change is on the Horizon for Guests and Residents of Marquis Residences

A few weeks ago, it was reported that Africa-Israel USA, the developer of Marquis, had sold the lower 15 floors of the luxury high-rise to CGI Merchant Group (CGI), a Miami-based investment and asset management firm, for $37.5M.  The sale included the Casa Moderna Hotel and Spa, Amuse Restaurant and Lounge, 5,700 square foot retail space, parking garage, and the 14 townhomes that are situated around the pool.

Above, you will find the official notice from the Marquis Condominium Association advising building residents of CGI’s acquisition.  It states:

The Miami Marquis Condominium Association and KW Property Management is proud to announce the sale of the hotel portion of the Marquis Residences. 

CGI Merchant Group, a Miami-based investment and asset management firm, has acquired the lower 15 floors of the Marquis tower including the first floor “gallery” space, parking garage, spa and 14 townhomes.

CGI is planning to transform and re-brand the hotel, joining in partnership with an internationally renowned, 5 star hotelier, soon to be announced.

Plans call for extensive renovation and upgrades to include converting the townhomes into full-floor hotel suites as well as major improvements to the pool deck and gym amenities.  Hotel renovations will include additional luxurious suites and a vibrant new restaurant and event space.

An elegant entrance to the front of the property accommodating the hotel and “gallery” space directly off Biscayne Blvd. will also be included as part of the upgrade.

The Marquis Condominium Board has worked diligently alongside CGI to support the sale while strengthening the relationship by negotiating to have a Condo Board Member represent condo owners at the master level.  This opportunity provides direct feedback from the membership while promoting transparency for all parties involved.

The Marquis Condominium Association welcomes the long overdue improvements and amenity upgrades and looks forward to a long-term partnership with the CGI Merchant Group.

More information will be announced within the next couple of weeks.  CGI is planning a “Meet and Greet” to detail the improvements and answer questions from the residents.

Regards,

Marquis Condominium Association

My guess is that one of the first questions asked by residents during CGI’s upcoming “Meet and Greet” will pertain to valet parking.  Currently, valet parking is free for resident guests.  Will the transition to new ownership mean an end to this long-time practice?  Also, how long will it take for improvements to be completed?  Sounds like the pool and gym may be closed for a long period of time.

I hate to ruin surprises, but “rumor” has it that the hotel will be operated by “Me by Meliá”, which is a luxury hotel brand of Meliá Hotels International with its roots in Spain.  I have also heard that The Darby, a popular restaurant and lounge from New York City, will open its first Miami location at Marquis.

On a side note, I was told earlier today that moving forward only owners will be permitted to have a pet at Marquis Residences.  Sorry renters, but you are out of luck…once again!

Skyrise Miami Video and Brochure

All appears to be moving forward with the proposed 1000 feet tall observation tower in Downtown Miami called SkyRise Miami.  In fact, the Facebook page for the development is giving away a weekend trip to Miami to help “celebrate the SkyRise Miami Groundbreaking Ceremony, currently set for mid-2014”.  Furthermore, their website, which recently launched, now includes a promotional video and brochure, which I have included below.  According to their marketing materials, the targeted opening date for SkyRise Miami is mid-2017.  The development is projected to cost $400M and will add approximately 7,100 jobs during the development phase and an additional 17,000 jobs once opened.  SkyRise Miami will include three observation decks, a restaurant, nightclub, SkyHigh Club, ballroom, meeting room, and interactive exhibit.  It will also include three thrill rides: SkyRise Flying Theatre, SkyPlunge Miami, and SkyRise Drop.  Be prepared to lose your lunch on those last two rides. SkyRise Miami is expected to attract 3.2 million visitors per year, which would make it the fifth largest attraction in Florida behind Disney World, Universal Orlando, Seaworld, and Busch Gardens.  If you aren’t excited about SkyRise Miami, you better check your pulse.  It is going to send Miami to heights unknown, literally and figuratively.

Penthouse Sale at Marquis Breaks Record on Per Square Foot Basis

Recently, a record-breaking sale took place at Marquis in Park West Miami.  Unit 6101 – a 4 bedroom, 4.5 bath bi-level penthouse encompassing 3,729 interior square feet – sold last Friday for $2,675,000, or $717 per square foot.  This made it not only the highest sale to ever take place at Marquis on a per square foot basis, but also the first sale in the building to the eclipse the $700 per square foot threshold.  The view – which is amplified by its soaring 20-foot, floor-to-ceiling glass windows – is nothing short of spectacular.  The condo, located on the southeast corner of the 61st floor, offers views of the Miami Beach skyline, Downtown Miami, Biscayne Bay and the Atlantic Ocean.

The penthouse was priced extremely well.  I know firsthand that there was a high level of interest from buyers.  The unit lasted not even two weeks on the market before going under contract and ended up selling $175,000 above asking price.

The unit was purchased decorator-ready directly from the developer in March 2011 for $1,730,000, or $464 per square foot.

It is important to note that this penthouse is not one of the penthouses that includes a rooftop pool.  As you may recall, one of those penthouses sold decorator-ready in June 2010 for $4.2M, or $525 per square foot.  That was the mammoth penthouse at Marquis with 8,000 interior square feet across four levels.  In case you’re wondering, that is the largest penthouse currently in existence in Downtown Miami.  That record will be shattered once THE PENTHOUSE at One Thousand Museum is completed.  That penthouse will have a mind-blowing 15,000 interior square feet.

Marquis condos for sale
Marquis condos for rent

One Thousand Museum – The Best Bargain in Town

There isn’t a preconstruction condo development in town that I’m more excited about than One Thousand Museum.  It will be more than a building.  It will be a work of art.  A work of art that I feel has tremendous upside potential.  Critics cry foul at the $900-$1,200 per square foot prices.  I cry bargain.  In my opinion, there isn’t a better bargain in town.

Keep in mind that critics cried foul when prices at Apogee South Beach pushed $1,000 per square foot.   They thought it was ungodly.  Just four years later, prices there are now over twice that amount.  Also keep in mind that units at Apogee South Beach were delivered decorator-ready while units at One Thousand Museum will be delivered move-in ready complete with ultra-luxe design finishes.

Still, naysayers point to the fact that One Thousand Museum is across the bay.  They feel that condos on that side of the water won’t see prices push $1,000 per square foot anytime soon.  At least, not by 2016 when One Thousand Museum is slated for completion.   I’m here to tell you that prices across the causeway have already eclipsed the $1,000 per square foot mark.  Epic Residences and Paramount Bay have both had units trade for over $1,000 per square foot.  One Thousand Museum will be in an entirely different league.   There’s no comparison.  It will be unlike anything South Florida has ever seen.  And that’s without taking into account the upside potential for the neighborhood as a result of Miami Worldcenter – a 27-acre mixed-use development which will be located directly behind One Thousand Museum.  Completion for Miami Worldcenter is estimated for the end of 2016, just as the first residents of One Thousand Museum move into the building.

To learn more about One Thousand Museum, I highly suggest that you watch the sales presentation below. I captured it recently while wearing Google Glass.

One Thousand Museum sales presentation:

A quick look at the One Thousand Museum floor plans:

One Thousand Museum model kitchen: