As the busy season for Miami real estate progresses, we’ve noticed quite the increase of inquiries from both renters and buyers for one of Edgewater Miami’s most upscale developments: the beautiful, Biscayne Beach. Its most notable feature is found on the ground floor of the building – mainland Miami’s first-ever beach club, complete with sand, lounge chairs, beach volleyball, and cabanas. Also, a highlight of the building is the gorgeous interiors by internationally-acclaimed celebrity interior designer, Thom Filicia (of Bravo’s hit TV show, Queer Eye for the Straight Guy). Completed in July of 2017, Biscayne Beach saw its first condo resale in September and has since seen 6 other resales closed to date.
Let’s check out the stats for our prospective renters and buyers…
Current Inventory
According to the MLS, there are 68 units currently available for rent of the building’s 391 total residences, 9 listed as pending rentals, and 48 marked as rented. Of those 68 units available for rent, 20 are 1-bedroom floor plans, 34 are two-bedrooms, 12 are three-bedrooms, and the final two are a penthouse and a beach house residence.
82 units at Biscayne Beach are currently listed for resale, with 3 marked as pending, and 7 closed.
Closed Rentals
Here are the price ranges for the closed rentals to date:
-1 bedroom units: $2300 – $2900 per month
-2 bedroom units: $2,500 – $4,200 per month
-3 bedroom units: $5,200 – $6,600 per month
Closed Resales
Here are the sales prices for the 7 resales that have closed to date:
-1 bedroom units:
-#1009 – $573,000 ($488 per sq ft)
-#2009 – $504,000 ($477 per sq ft)
-#3509 – $530,000 ($501 per sq ft)
-3 bedroom units:
-#1907 – $1,050,000 ($499 per sq ft)
-#2307 – $1,255,000 ($597 per sq ft)
-#3307 – $1,250,000 ($594 per sq ft)
-#4007 – $1,400,000 ($666 per sq ft)
The fact that all the closed resales so far are either of the 07 or 09 lines tells us that these two floor plans are the building favorites. Considering that they are located at the southeast (07 line) and southwest (09 line) corners of the building, there’s no wonder why. The view really opens up to the south with the added bonus of being able to enjoy views of the Downtown Miami skyline and sunset.
While stunning bay views, gorgeously designed interiors, and high-end finishes are bountiful at Biscayne Beach, there’s no question that its amenities are what makes this building so unique. From a family-friendly club room and children’s water feature at the impressive beach club to a residents-only amenities floor with a BBQ, tennis courts, dog walking area, and a pool; all it’s missing now is a tenant for the large, commercial restaurant space on the waterfront side of the lobby level. Check out the photos below.
If you or anyone you know has an interest in leasing or purchasing a condo at Biscayne Beach, email us at [email protected] to speak with one of our expert agents.
Grammy Award-winning Artist Timbaland Snags “Mansion in the Sky” at Aria on the Bay
Timbaland – the Grammy Award-winning artist – is in contract to purchase a “Mansion in the Sky” at Aria on the Bay – at least according to the Instagram account of John Parsiani, the Senior Sales Executive for the development:
The caption of yesterday’s post reads: I’m delighted to welcome 4 time Grammy Award Winner & Legendary @timbaland to his new #MansionInTheSky at #AriaOnTheBay.
The #MansionInTheSky hashtag is typically reserved for penthouse condos or condos with very large floor plans. Besides PH1 and PH2 at Aria on the Bay, which each have roughly 7,800 total square feet, the next largest floor plan in the building has just under 3,000 total square feet – not exactly a “Mansion in the Sky” if you ask me. Therefore, one could assume that one of two things has taken place: (1) Timbaland has under contract the last remaining penthouse at Aria on the Bay – PH2, or (b) Timbaland took over the contract for Giancarlo Stanton’s penthouse – PH1.
As you may recall, last year, it was reported that former Marlins slugger Giancarlo Stanton was in contract to purchase PH1 at Aria on the Bay. The contract price has not yet been disclosed, but, at the time that Stanton put that property under contract, PH2, a three-story penthouse of the exact same size but located on the northeast corner of the building, was available for $6M. It was the last remaining penthouse at Aria on the Bay. My guess is that Timbaland snagged PH2. Stanton may have been traded to the Yanks but, at $325M, he’s also the holder of the largest sports contract to date. And that’s before taking into consideration the money he makes from endorsements. $6M is a drop in the bucket to him!
According to public records, Timbaland, whose real name is Timothy Mosley, currently resides in a luxury home in Pinecrest. He previously owned a condo at Murano Grande, which he sold in 2013 for $4.8M. I guess he’s missing that condo life! I don’t blame him!
Marquis Residences Condo Owned by Mario Chalmers Back on the Market with 11% Price Reduction
After being on and off the market for the past 3-plus years, the 5 bedroom condo at Marquis Residences owned by former Miami Heat player Mario Chalmers is back once again…but this time priced at $2.66M – that’s an 11 percent reduction from its previous list price of $2.99M, and 33.5% off its original list price of $4M set back in August 2014.
The two-story residence, located on the 49th and 50th floors of the northeast corner of the building, has 5 bedrooms and 5 bathrooms with 5,475 interior square feet, a game room, wet bar, and soaring 20-foot ceilings. It boasts views of the Atlantic Ocean, Biscayne Bay, and the Miami Beach skyline. The Mario Chalmers residence also includes 4 assigned parking spaces.
The new list price equates to $486 per square foot, which is much lower than where comparable two-story units have recently sold at Marquis Residences. Unit 6101, a two-story residence located on the northeast corner of the building, sold just weeks ago for $716 per square foot. Hopefully four times will be a charm for Mario Chalmers!
30% of Units at Echo Brickell Have Already Been Listed For Sale or Rent on the MLS
With just over two months since closings began, I was surprised to learn that 30% of the units at Echo Brickell have already been listed for sale or rent on the MLS, especially considering that three major holidays took place during that time period.
Currently, 33 units are listed for sale and 33 listed for rent. However, 11 of those units were listed for sale AND rent. After adjusting for those duplicate listings, 55 unique units remained, representing just over 30% of the building’s 180 total residences.
Keeping in mind that closings are still underway, 30% seems to be a very high percentage. As of this writing, 111 units have closed and been recorded according to public records. That means that 62% of the units have closed and 38% still remain in the hand’s of the developer.
Of the 33 units listed for rent, 2 have already rented: Unit 1204 – a 1 bed/1.5 bath unit with 898 interior square feet – rented on January 2nd for $2,700 per month ($3.01 per square foot) while Unit 2401 – a 2 bed/2.5 bath unit with 1,287 interior square feet – rented on December 11th for $5,000 per month ($3.89 per square foot). At this time, there aren’t any pending sales or rentals, and there haven’t been any closed resales.
As One Thousand Museum approaches top-off of its 62-story tower – a major milestone in the development process – some may begin to wonder when the project will be delivered. Well…wonder no more! We came across a countdown to completion clock which was recently added to the developer’s website. As of this writing, the timer shows that completion will be in 363 days, putting delivery of the 62-story ultra-lux tower shortly before Christmas 2018. And if all you want for Christmas is a condo at One Thousand Museum, you’re in luck. As of two months ago, 40% of the development’s 83 total units remained, including the $49M two-story penthouse.
Estates at Acqualina In Sunny Isles Is Under Construction
The super-luxe Estates at Acqualina has officially begun construction, with the existing beach motel being demolished this week. The developers hope to have the site completely cleared by March and released a video of the beginning of the demolition (below).
To honor the occasion, the developers paired up with two local charities to hold a celebratory event and press conference that was attended by Derek Jeter and Jorge Posada. All of the furniture in the existing structures has been donated to the hurricane relief in Puerto Rico and the Florida Keys, or to victims that have relocated to Florida after the storms.
The new development is expected to be completed in 2020 and features a lobby designed by Karl Lagerfeld and a 50,000 square foot amenity area. Prices of remaining inventory range from $4.2 million to $9 million. Penthouses and single-family homes are priced upon request.
Just Listed – Jade at Brickell Bay Unit 1505 – Asking $799,000
Lucas Lechuga of the Miami Condo Investments team at Luxe Living Realty has listed for sale unit 1505 at Jade at Brickell Bay – an immaculately appointed 1 Bedroom, 1.5 Bath condo with 1,135 interior square feet; a large, expansive terrace suitable for outdoor dining and lounging; white marble flooring throughout; motorized shades; custom listing; custom closets; and breathtaking, panoramic views of the bay, ocean, and sunrise from the 15th floor.
The kitchen, which has been opened to maximize the views of the water, comes equipped with cherry wood cabinets, granite countertops, Sub-Zero refrigerator, wine cooler, and cappuccino maker. The bedroom is separated from the living room space by sliding glass panels which can be closed for privacy or open for expanded water views. The lavish master bath includes a Jacuzzi tub, separate glass-enclosed shower, bidet, and dual vanity with marble countertops.
As of this writing, the most recent east-facing 1 bedroom unit at Jade at Brickell Bay sold for $760,000. However, that unit was located four floors lower and without any of the custom upgrades found in unit 1505. Even though four floors may not seem like a big difference, the view from the 15th floor is significantly better than that from the 11th floor due to the pool deck and palm trees being located on the 8th floor. Unit 1505 is priced to sell at $799,000.
Trophy Property Of The Week: The Palazzo Del Sol Lanai Residence On Fisher Island
Although we had a whole series of trophy properties last week for Art Basel 2017, we have another very special property to share today. This one-of-a-kind Lanai Residence at Fisher Island’s Palazzo Del Sol is a true jaw dropper and is perfect for those who want the feel of a single family home but without the maintenance.
The 5,000 square foot ground-level waterfront condo has 4 bedrooms, 4.5 bathrooms and an enormous 5,300 square foot outdoor living space that includes a private negative edge pool overlooking Government Cut and South Beach. The property is turnkey furnished by leading Brazilian firm Artefacto. If four bedrooms are not enough, there is also a “studio” next door that could be included. I use the term “studio” loosely, as this studio has as much space as a two bedroom apartment in Brickell.
Inside the home, you will find 11.5 foot ceilings throughout, Boffi kitchens and master bath, bookended marble and Lualdi doors throughout. The kitchen is decked out with Gaggennau and SubZero appliances and Dornbracht & Duravit fixtures. The whole property is offered for $12 million, although the “studio” is offered separately. Scroll through the photos below for a preview of the glamorous home!
Behold! The Armani Casa Penthouse Floor Plans!
Dezer Development and Related Group have unveiled the Penthouses at the Residences by Armani Casa in Sunny Isles Beach with a very interesting offering. The purchaser has a choice of taking the residences at one price decorator-ready and let their own designer sort out the details, or they can purchase for another price and take advantage of the swank “Armani Package.”
Highlights of the on-of-a-kid Armani lifestyle experience include:
– Two first-class, round trip tickets to Milan.
– A two-night stay in an Armani Deluxe Room at Armani Hotel Milano.
– An after-hours private tour of Giorgio Armani’s flagship store.
– A dedicated personal shopper at Giorgio Armani boutique.
– A stylish night out that includes dinner at Armani/Ristorante and cocktails at the Armani/Prive lounge.
The 56th floor duplex penthouse is exclusively designed by Armani/Casa Interior Design Studio under the artistic direction of Giorgio Armani himself and features 6,138 square feet of oceanfront splendor. There are 5 bedrooms, 6.5 baths, a service quarters as well as a game/media/play room. It features a rooftop terrace overlooking the ocean, and a 2,197 square foot outdoor living area with a private pool, summer kitchen and wraparound terrace so that the owner may also enjoy Miami’s magical sunset views.
If the buyer opts for the penthouse with the opulent Armani Package with finishings and once-in-a-lifetime getaway, the cost is $17 million. For the raw space, the developer is asking $12.3 million.
The project is expected to be delivered in 2019 and includes 35,000 square feet of amenities that include a lounge and Prive area, an on-site fine dining restaurant, cigar room, wine cellar, heated swimming pool, fitness center with ocean views, two story spa with indoor and outdoor treatment rooms, a movie theater, club room and exclusive beach amenities on the 300 linear foot stretch of private shore.
See below for the floor plan, which has not yet been released to the public. Chic!
