Impeccably Decorated 3 Bedroom Condo For Sale at Marquis Residences
A few weeks ago, I had the pleasure of viewing one of the most impeccably decorated condos for sale at Marquis Residences. The custom designed unit was absolutely stunning. The 3 bedroom/3.5 bath condo has 2,393 interior square feet, 10-foot ceilings and comes fully furnished as you see in the pictures below. A private elevator opens to the 22nd floor residence which includes 2 master suites, 17×43 porcelain tiled floors, a laundry room, 3D LCD TVs, custom bar, Euro kitchen, security system with cameras, linear diffusers and covered ceilings with fiber-optic lighting. A Crestron system is also included to control the audio/video, lighting, air conditioning and window treatments. To top it all off the Park West Miami condo offers spectacular, 180-degree views of Biscayne Bay. Asking price of this remarkably beautiful property is $1,695,000.
iPhone App Update Now Available on iTunes
Great news! The Miami Condo Investments iPhone app is now compatible with iOS 5. You can download the latest update on iTunes. We would love to receive any feedback that you might have so it would be great if you could leave us a review.
As a side note, I recently updated the scores on the Condo Rankings page and have added a few buildings such as Mint and Paramount Bay. The majority of the changes were made to the risk adjustment column to reflect the decrease in developer inventory in many of the newer buildings since the last update.
Real Estate Porn – “I know It When I See It”
The phrase, “I know it when I see it”, was made famous in the 1964 landmark case of Jacobellis v. Ohio. It was used to describe Supreme Court Justice Potter Stewart’s threshold test for pornography. It occurred to me recently that the same threshold test should be applied to determine what does and does not constitute true real estate porn – a modern term to describe almost dreamy, remarkably extravagant real estate which provides visual satisfaction to those who view it online. I had heard the term and knew its meaning but never felt that I had ever truly witnessed it for myself – that is until I saw Penthouse 2 at Continuum South Beach. Everything else I had seen in the past was just a tease by comparison; a 1960s titty mag at best.
PH2 at Continuum South Beach is a palace in the sky worthy of only the most elite members of society – crème de la crème. The majestic, 4-story penthouse offers unparalleled views and a timeless decor that can only be found in storybook novels. When it comes to condo living in South Florida, it doesn’t get any better than PH2 at Continuum South Beach. The 6 bedroom/7.5 bath residence offers over 11,000 square feet of interior space, over 6,000 square feet of terrace, a rooftop pool, a private in-unit elevator and staff quarters. Also included is another 1,200 square feet of separate guest suites, a lofted beachfront cabana and 10 parking spaces.
The price to live like the exalted king of South Florida? $35M large. The hefty property taxes and condo association fees are a mere afterthought for those with the means to afford such splendor. Life is too short not to have the finest that money can buy.
PH2 is located in the South Tower of Continuum South Beach – the only privately gated resort development in South Beach – at 100 South Pointe Drive, Miami Beach, FL 33139. Amenities at Continuum South Beach include: resort-style pools, lap pool, full service beach club, 13,000 square foot world-class spa and fitness center, restaurant, 3 clay tennis courts, tennis pro shop, 24-hour security, full service concierge and valet parking.
Paramount Bay Update
Earlier this afternoon, I was in the neighborhood so I decided to stop by Paramount Bay to get an update on pricing and availability and also to check on the progress that has been made to the common areas. The amazing news is that Paramount Bay is now 69% sold. That’s a remarkable feat given that the common areas were (and presently still are) a work in progress when sales launched on November 7, 2011. Early buyers were rewarded generously, however, for believing that current ownership would deliver a building with common areas of superb quality. There have been several price increases since November and, after touring the building today, I can tell you that early buyers made a very wise decision. Contractors have worked earnestly on the common areas since November and prices have adjusted accordingly as completion approaches 100%. From what I saw today, Paramount Bay is shaping up to be one of the finest condominium buildings in all of Miami.
I also discovered that there are two penthouses still available for sale at Paramount Bay. Both have 4,437 interior square feet along with 736 square feet of terrace. One is located on the 45th floor and currently is being offered at $3,685,900 while the other is located on the 46th floor and is asking $4,001,900. Below, you will see the price ranges that currently exist for the various floor plans at Paramount Bay. Keep in mind that pricing is expected to increase as the common areas near completion.
A Look Inside Penthouse 3401 at Asia
I had the opportunity earlier this afternoon to tour one of the most amazing penthouses that Miami has to offer – Penthouse 3401 at Asia. The 5 bedroom/6.5 bath, tri-level penthouse has 4,954 square feet of interior with 12-foot ceilings on each floor, a maids quarters off the laundry room and white marble floors throughout. All together, the Asia Brickell Key penthouse has 1,602 exterior square feet which includes an outdoor wet kitchen and a roof-top pool offering breathtaking water and city views. The unit also includes an in-unit elevator for those who find the walk to the third floor master bedroom too grueling after a long day at work. To top it all off, the penthouse comes fully furnished and decorated courtesy of Artefacto. The price to live the high life on Brickell Key – $8.8M.
Penthouse A at Apogee South Beach Hits the Market for $25M
Penthouse A at Apogee South Beach is back on the market for a cool $25M, exactly 365 day after selling last April for $11.5M. Judging by the pictures, it does not appear that any upgrades were made to the unit prior to putting it back on the market. The 6 bedroom/7.5 bath penthouse condo has an astounding 6,853 square feet of interior, 22-foot ceilings, over 11,000 square feet of terrace, a private rooftop pool, a summer kitchen and panoramic views of the Atlantic Ocean, Biscayne Bay and the city.
Apogee South Beach is a 67-unit ultra-luxury condominium located in the South of Fifth neighborhood of South Beach. The development includes only three penthouse residences, one of which is currently owned by Miami Heat president, Patrick Riley.
Penthouse A is now the third highest priced condo currently on the market in South of Fifth. At this time, two separate condos (PH-2 and unit 3603) at Continuum South Beach South Tower are listed for a whopping $35M each.
Miami Luxury Real Estate Prices Post 3rd Largest Percentage Increase in the World in 2011
The luxury real estate market in Miami had a remarkable year in 2011 and now, thanks to an annual report released by real estate consultants Knight Frank, we know how it compared to other international markets. The Wealth Report 2012 showed that Miami luxury real estate prices in 2011 increased 19.1 percent from the year before. The increase was the third largest when compared to other international luxury real estate markets, well ahead of London and Vancouver. Luxury properties in Miami are finally on the radar of the world’s elite!
Paramount Bay and Brickell House Hit 60%
I discovered yesterday afternoon that Paramount Bay now has 60% of its total units either sold or under contract. That’s quite an accomplishment seeing that it was only four months ago that sales were launched. The penthouse units at Paramount Bay have all been sold. The next most popular unit has been the 02 line which is a 3 bedroom/3.5 bath condo with 2,353 interior square feet. That’s the largest non-penthouse floor plan at Paramount Bay. Only 3 of those units remain.
For those unfamiliar with the development, Paramount Bay is an all-glass, luxury, waterfront condo development located at 2066 North Bayshore Drive in the Arts District of Miami. The vast majority of the condos at Paramount Bay have a direct water view. A number of great units still remain so don’t hesitate to contact us if you have an interest in touring the building and viewing any current availability that interests you. Paramount Bay is a very high-end, exclusive building and will be a perennial favorite for years to come.
Brickell House, which began accepting pre-construction reservations in October, has 60% of its 374 total units under contract as of last week. The 46-story, luxury condo development will be located at 1300 Brickell Bay Drive across the street from Jade. Sieger Suerez was contracted to serve as the development’s design architect while Yabu Pushelberg and Artefacto will oversee interior design components. To learn more about this pre-construction development, please download the Brickell House brochure or feel free to contact us with any questions that you might have.
These type of success stories demonstrate the current level of demand for new condos in Miami. It’s no wonder that new condo developments are expected to soon be announced.
Mario Chalmers of the Miami Heat Purchases 5 Bedroom Condo at Marquis Residences from Drake
Miami Heat point guard Mario Chalmers will now have a short commute to work. The Miami Herald reported on Friday that he recently purchased a 5 bedroom/6 bath condo at Marquis Residences in Downtown Miami for $2.6M. Marquis Residences is located at 1100 Biscayne Blvd, just 5 short blocks away from the American Airlines Arena, home of the Miami Heat. The condo was previously owned by hip-hop/rap artist Drake who placed two side-by-side units at Marquis Residences under contract last September then later combined them.
