84 Percent of the Units at Fendi Chateau Residences Have Closed
According to public records, 49 of the 58 total units at Fendi Chateau Residences have closed since closings began in September 2016. The sales prices range from $4,611,600 – for a 3 bedroom, 4.5 bath residence with 3,232 interior square feet – to $21,000,000 – for a 4 bedroom, 4.5 bath penthouse with 6,505 interior square feet.
The very first resale at Fendi Chateau Residences closed just last week. Unit 706, a 3 bedroom, 4.5 bath residence with 4,664 interior square feet (per tax records), sold for $7,970,000 ($1,709 per square foot). The original owner had paid $6,856,000 plus a 1.75% developer’s fee. Additionally, that owner paid to have 48-inch by 48-inch white marble flooring, Ornare closets, and white linen curtains installed throughout the unit.
Currently, there are 11 units at Fendi Chateau Residences that are listed for sale on the MLS, 3 of which are developer units (units 304, 306, and 802). The asking prices for those units range from $5,700,000 to $12,000,000 with an average asking price of $2,077 per square foot.
If you’re in the market for a turnkey furnished unit on the ocean, I highly recommend unit 604 at Fendi Chateau Residences. It was done to the nines and shows beautifully!!! Asking $7,995,000.
Check out our flyover video of Fendi Chateau Residences from 2016, shortly before the building was completed.
Market Stat Monday: Biscayne Beach
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.
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.
Treasure Hunter’s Paradise: The Site Of Pablo Escobar’s Miami Beach Home Is For Sale
If you’re into hunting for treasure and have $16 million to spare, you can buy the site of Pablo Escobar’s former Miami Beach Home!
That’s right, the infamous drug kingpin was known for burying his riches in the yards of his various houses or hiding things in the walls of his estates. Two safes have already been found in the yard at 5860 North Bay Road, although they have not yet been opened and most of the 30,000 square foot lot has yet to be excavated. The lot also has 150 feet of bay frontage with Downtown Miami skyline views, so it is almost certain that unspeakable things were coming and going from the estate on the regular.
Escobar purchased the estate in 1980 for $762,500 and then lost it to a US Government seizure in 1987. After years of falling into disrepair, the CEO of Chicken Kitchen purchased the property for $9.65 million in 2014. The fast food scion is apparently a bad boy in his own right, he was named in the recent release of the Panama Papers, although maintains his innocence.
Not long after purchasing the property, the owner razed the existing structure placed the lot on the market for a whopping $21 million (which he did not get). After several price reductions and marketing re-launches, it now sits on the market for $15.9 million.
According to a recent article on Realtor.com, one of the two safes that was found during the demolition of the home was stolen. The other is still around, but will likely be opened on a televised documentary that is currently being produced. The existing safe weighs between 600 to 700 pounds.
The seller also told the reporter that he had professional treasure hunters take a look at the lot. They reported lots of subterranean “activity,” particularly under the 100 year old banyan tree, so if you would like to go farming for riches and yayo, let’s make a deal! Even if you don’t find anything, you could also build a history-making home of your own on the gorgeous lot.
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!
Art Basel Special: Top Miami Trophy Properties Day 4
Now that he has been released from the Miami Heat due to his health problems, it appears Chris Bosh is taking both his talents and his family out of South Beach. He has listed his North Bay Road home on the market for $18 million.
The home was built in 2009 and purchased by the Bosh family in 2010 for just over $12 million. It features ultra-high ceilings (a necessity for the family with a 6 foot 11 patriarch), heated pool, summer kitchen, elevator and guest house. Overall, the home has nearly 12,000 square feet of interior living area with spacious, airy rooms and wide open bay views to the west so that the owners and guests can enjoy Miami’s famous sunsets over the Downtown and Brickell skyline.
Have a scroll through all 45 photos of the manse, we bet that the Bosh family is sad to part with this lovely home!
