Legacy Hotel & Residences began selling in late 2019 and despite the pandemic, it is already entirely pre-sold, with $160 million in sales.
The luxury tower located at 942 Northeast First Avenue, will rise 55 stories making it the second tallest tower at Miami Worldcener. This mixed-use development will feature 310 residential units, 219 luxury hotel rooms, a business center, a medical office, retail space, and a rooftop atrium.
The residences will include studio to 2 bedroom floor plans with 368 to 964 square feet options. The units will be fully finished and furnished. One of the unique things about Legacy is that residents will be able to rent their units without any restrictions. This includes utilizing a short-term rental company, whether its the Legacy’s rental program, Airbnb, or VRBO
In December 2021, the developers for Legacy secured the construction financing marking it as the third-largest construction loan ever made in Florida at $334 million.
Construction is anticipated to be complete in 2024.
It is with great pleasure that I introduce our recently released Condo Market Stats page. With it, you’re able to quickly compare a variety of market statistics of major condo developments located throughout Miami-Dade County. There’s nothing like it on the market, and the best thing about it is that it’s completely free.
Have you ever wondered which condo development has the most pending sales? Or which has the highest percentage of units currently available for sale? Or which of them has the most sold units within the past six months? By using our Condo Market Stats page, these, along with a number of other questions, can easily be answered.
We also included the ability to compare the market statistics of neighborhoods to one another. For example, have you ever wondered which neighborhood is the priciest? Or which has sold at the highest price per square foot over the past six months? Or which neighborhood has the highest percentage of units available for sale? Our Condo Market Stats page can provide those answers with a few simple clicks of the mouse or taps of your fingertip.
In the months ahead, we plan to add a number of other statistics to the Condo Market Stats page. We want it to be a one-stop-shop for anyone looking to crunch numbers in order to make a well-informed purchase decision. Long-term, my vision for this page is to have a database of daily data points so that users will be able to compare today’s statistics with yesterday’s, last month’s, last year’s, etc. That’s where the real value of analyzing market statistics lies. How do Q2’s stats compare to Q1’s? Or how do Q2 2020’s stats compare to Q2 20219’s? By my estimation, we’re about 9 to 12 months away from being able to develop and deliver that kind of sophisticated functionality. In the meantime, enjoy the current version of the Condo Market Stats page. We’d love to receive any comments or feedback you have about the page.
New Website Feature Alert: The Wild Card Search Filter
I’m happy to introduce a new website feature that was recently added to the Miami Condo Investments website. It’s called the Wild Card Search Filter. The video below explains exactly what is, how to use it, and reasons why one would want to use it.
In a nutshell, the wild card search filter allows people to filter a building’s listings by line number. This is super useful for when you want to focus your search on a specific line or lines in a building, especially when checking for pendings and closed sales to determine the value of a subject property. The wild card search filter can also be used to focus your search on penthouse units and/or units on specific floors.
The wild card search filter is a very powerful tool when used correctly; I’m delighted to share it with everyone. It’s features like these that separate the Miami Condo Investments website from all other real estate websites. We have a lot of other new features in the pipeline and can’t wait to roll them out in the weeks and months ahead.
MCI Has Recording-Breaking Month: 60K Unique Visitors!!!
Hard work and consistency have always been keys to success…and now we have the stats to prove it! Since launching the site on May 12, 2007, MiamiCondoInvestments.com has grown by leaps and bounds – both in website content and traffic. Over the years, the site has seen a number of iterations, the largest being in January 2015 when the website was redeveloped from scratch incorporating a much more user-friendly design and experience. That decision to re-launch the website seems to have paid off tremendously. Since re-launching the site, website traffic has more than doubled, with January 2018 achieving its most traffic ever for a one month period – 60,124 unique visitors!!!
According to SEMrush.com – an online service that estimates traffic for all websites – MiamiCondoInvestments.com has more traffic than ANY Miami-centric real estate website. In fact, it has more traffic than its two closest competitors COMBINED. Additionally, it has more traffic than the five largest Miami-based brokerages COMBINED.
I’m happy to share with you that another large website update is in the works and should be ready to roll out by late next week. The upcoming update will improve upon the already friendly user experience, introduce new features, and fix a number of bugs – all in an effort to ensure that MiamiCondoInvestments.com remains the #1 Miami real estate website for many years to come!!!
Happy Memorial Day From Miami Condo Investments
On this and every Memorial Day, the Miami Condo Investments Team would like to extend our gratitude and remembrance to the men and women who gave the ultimate sacrifice, keeping us safe, so that we can continue being free to do what we love. Their sacrifice is not forgotten.
We hope that everyone enjoys their holiday and continues to remember that freedom is not free.
Nasdaq To The Frost Museum: Ring My Bell!
Be on the lookout! The Phillip and Patricia Frost Museum of Science has been asked to open the Nasdaq market on Monday morning!
The opening will happen remotely at the museum in Downtown Miami, which opened on May 8th. Dr. Phillip and Patricia Frost will join Frost Science, President Frank Steslow, to ring the Opening Bell.
The Bell ceremony will begin at 9:22am on Monday morning (May 22), according to the press release. The official ringing of the Nasdaq Opening Bell will take place at 9:30am sharp. Please remember that these times are in New York time, not Miami time… don’t miss it!
Miami Condo Investments Celebrates Its 10 Year Anniversary!
Before this day in 2007, Miami Condo Investments was just a passionate real estate agent behind his computer and a big idea in his head. Lucas Lechuga recognized that traditional search methods were a thing of the past and people in Miami needed a place to search for condos by building or neighborhood instead of by zip code. They also wanted an easy way to access market statistics from the comfort of their home.
Today, the website has grown to be the #1 Miami condos website, with an average of 40,000 unique visitors per month from across the globe. People from almost 200 different countries have accessed the site so far this year.
Countries reached by Miami Condo Investments
The website offers readers building updates, real-time inventory data, a proprietary condo ranking system, hundreds of aerial photographs, available/pending/closed condo figures for both sales and rentals, and the most advanced condo search in existence… all for free.
Be on the lookout for some cool new features that are being launched! In order to better accommodate our international clients and readers, you will be able to translate the website to a host of different languages. We have already added a currency conversion tool on each listing and upgraded our market statistics pages. I will go into more detail on this once we get everything launched.
In addition to the website’s expansion, the team behind the website has expanded as well. The six team members were carefully chosen because of their hard work, exceptional level of service, knowledge of the market, and passion for the profession. Lucas also added a team leader to make sure everyone stays on top of market changes and training, and an assistant to keep everyone organized. He has spent countless hours of hard work to make sure that the website has grown to embody what the clients need and that they receive top-notch service with their condo needs. We are very proud of his efforts and proud to be a part of Miami Condo Investments!
Most of all, I would also like to send an enormous thank you to our readers and clients. We are very honored to be able to pass out keys to you and are thankful to you for allowing us to do what we love.
Miami Condo Investments Welcomes Francisco Astete
We are very excited today to welcome Francisco Astete to the Miami Condo Investments team! Although a relative newcomer to real estate, we had heard through the grapevine of the spectacular service & knowledge Francisco offers in his transactions and we knew he was a great fit for the team.
A recent graduate of Terra Environmental Research Institute, Francisco was working his way through the Business Administration program at FIU and working in a restaurant that caters to the residents of Brickell’s high rises. He was inspired by the buildings and the opportunity that a career in real estate would offer and immediately became licensed. He is currently a sophomore at FIU and aspires to ultimately become a developer.
I love Francisco’s efficiency. Let’s be honest, there aren’t too many people who love moving. He has a seemingly effortless ability find a home that his clients are imagining quickly and without headache. He is great at navigating the bumps that come up during the application and escrow periods of transactions. We are very proud to have him on the team.
Francisco was born and raised in Miami to a Peruvian family and enjoys exploring his culture. When he is not making neighbors in Brickell or studying for an exam, he is passionate about deep sea fishing and scuba diving. Welcome, Francisco!
Miami Condo Investments Welcomes Ady Laitano
We are very happy today to welcome Ady Laitano to the Miami Condo Investments team! A seasoned and well-rounded real estate professional, Ady has been in the market for the last 12 years. She was born and raised in Miami and specializes in selling luxury homes and condos to affluent local and international buyers in Fisher Island, Brickell, Coconut Grove, Downtown, and Miami Beach.
Her hard work, market knowledge, and dedication have contributed in her consistent Top Producer status throughout her career. She has extensive experience marketing, listing, leasing, and selling luxury waterfront properties in Miami.
Ady also worked for developers selling new construction condominium projects in the Brickell and Downtown Miami. While marketing and selling these projects, she traveled extensively to Venezuela, Mexico, Brazil, and Central America in order to develop and build relationships with outside brokers and international clients.
With a Bachelor’s in Education from Florida International University, she is able to meet and exceed the expectations of even the most sophisticated clients with dedication and stellar customer service. She is fully bilingual in English and Spanish.
We are very happy to have her on our team. She is already earning 5 star reviews from her clients with her well-rounded service and knowledge. Welcome, Ady!
Miami Condo Investments Welcomes Sean McCaughan as Editor
We are very excited today to announce that Sean McCaughan has joined Miami Condo Investments as our new editor. Sean’s natural talent of writing paired with his passion for Miami, architecture and the real estate industry makes him a perfect fit for the Miami Condo Investments blog.
Many may remember Sean as the previous editor of Curbed Miami, a popular online real estate publication as well as the editor of Gridics. In addition to his amazing talent, he is bringing many contacts within the real estate community. This will make sure that we have all the latest and greatest information to bring to you, whether you are a real estate/architecture enthusiast or are actively searching for a new property.
We hope that you enjoy the new posts & functionality of the site as much as we love bringing it to you!
