One Thousand Museum Bulldozes Through 50 Percent Under Contract Mark
When it comes to sales as of late, One Thousand Museum has been kicking ass and taking names. While attending a VIP dinner event held at the One Thousand Museum sales gallery last Thursday, I learned that over 50 percent of the units at One Thousand Museum are now under contract. And I’m talking hard contracts here, each with deposits received and past their 15-day rescission period. From what I heard that night, sales had hovered around the 30 percent mark for a while but then, in the weeks following Art Basel and the developer’s brilliantly timed groundbreaking ceremony, it has been full speed ahead with no signs of slowing. Currently, the entry point to get in at One Thousand Museum is slightly over $5.5M, or $1,200 per square foot – although that may have changed since Thursday given that I learned yesterday that two new contracts were signed on Saturday. No word yet, however, as to which two units those might be. 50 percent under contract at this point is big news in and of itself, but what really blew my mind last Thursday night is that the developer already has six of the total eight full-floor residences under contract. The two remaining full-floor residences are priced slightly under $17.5M and $20M. With each having just under 10,000 interior square feet, those work out to be a little more than $1,750 and $2,000 per square foot respectively. That’s right folks, take a moment to process that small yet impactful piece of information and realize its significance, not only just for One Thousand Museum, but also for the Downtown Miami real estate market as a whole.
Since the beginning, I’ve been a huge believer in One Thousand Museum. It is great to see that buyers are finally starting to see One Thousand Museum for what it will one day become – a trophy property that will be revered by people from all over the world. Early last year, Wealth-X – “the world’s leading ultra high net worth (UHNW) intelligence and prospecting firm” – compiled and published their top ten list of Billionaire Skyscraper Homes. Coming in at the number nine spot was One Thousand Museum. As you will see below, One Thousand Museum finds itself in very good company, not surprising given the fact that the tower was designed by one of the most prolific architects ever – Zaha Hadid.
One Hyde Park (London) – Average Price Per Square Foot: US$9,906
432 Park Avenue (New York City) – Average Price Per Square Foot: US$6,742
One57 (New York City) – Average Price Per Square Foot: US$6,000
South Bank Tower (London) – Average Price Per Square Foot: US$3,300
Tour Odéon (Monaco) – Average Price Per Square Foot: US$8,900
Opus Hong Kong (Hong Kong) – Average Price Per Square Foot: US$10,740
56 Leonard (New York City) – Average Price Per Square Foot: US$6,000
Clermont Residences (Singapore) – Average Price Per Square Foot: US$2,360
One Thousand Museum (Miami) – Average Price Per Square Foot: US$1,100
One Madison (New York City) – Average Price Per Square Foot: US$5,000
For those who are unfamiliar with One Thousand Museum, be sure to watch the promo video below to see for yourself just how spectacular the luxury tower will look once completed. It will forever change the Miami skyline for the better and help catapult the city’s real estate market to even greater prominence around the world.
Below are two recently released renderings for One Thousand Museum along with a few shots of the development’s hologram box and a photo taken of the Luxe Living Realty agents who attended last Thursday’s exclusive dinner event. That night, Luxe Living Realty agents (myself included) were formally named sales ambassadors for the project, which, among other things, provides us with 24/7 access to the One Thousand Museum sales gallery. Yes, that means that if you have $49M burning a hole in your pocket, and feel compelled to schedule a 3am appointment to visit the sales center and write-up a contract for the full-floor, duplex penthouse, I would be able to accommodate you. I realize that the jet lag from those long, transoceanic flights can be horrible.
If you have any questions about One Thousand Museum and/or would like to learn more about pricing and availability, please call me on my cell phone at 786-247-6332 or contact me via email at [email protected].
A Tour of the Brickell Flatiron Sales and Design Gallery
Sometimes I feel like there aren’t enough days in the week to both sell real estate AND stay on top of the latest and greatest condo developments entering the market. Today, fortunately, I had time in my schedule to check out the interior design and finishes of one of the best – Brickell Flatiron. Actually, I was already quite familiar with the project but it’s one thing to sell a pre-construction condo development on paper and quite another to actually see and touch actual finishes that you can expect to find in units once they are delivered. This was my first opportunity to visit the Brickell Flatiron Sales and Design Gallery which opened on-site last month and was designed by American artist Julian Schnabel.
Brickell Flatiron Reception Area
As I sat in the reception area waiting for my tour to begin, I couldn’t help but think that Julian Schnabel did an amazing job in capturing British Colonial elegance with an interesting twist. Hopefully, that is the look he was going for. The interior design work in the reception area is to give you an idea of what you can expect to find in the Brickell Flatiron lobby and common areas.
Brickell Flatiron Master Bathroom Finishes
The master bathroom finishes for Brickell Flatiron remind me a lot of the bathroom finishes that you find at Epic Residences, not surprising given the fact that the developer of each building is one and the same – Ugo Colombo. That’s definitely not a bad thing. We’re talking marble floors and accents walls imported straight from Italy. Colombo is known for his attention to detail and knack for using only the finest materials.
Brickell Flatiron Kitchen Appliances and Finishes
First of all, I must say that I absolutely love the kitchens for Brickell Flatiron. The Snaidero cabinetry is second to none and includes an open/close feature at the push of a button along with interior backlighting. The open/close feature is really cool although I hope next year’s model will incorporate a speech recognition engine to do the work for you. After all, home automation is the future. The Miele refrigerator, in my opinion, is a welcomed change from the customary Sub-Zero refrigerator that we all come to expect from luxury condo developers. Off the top of my head, Biscayne Beach is the only other luxury condo development that is planning to deliver Miele refrigerators in place of the usual Sub-Zero.
For those unfamiliar, Brickell Flatiron is a luxury, pre-construction condo development which will be located in the heart of Brickell at 1001 South Miami Avenue. In my opinion, Brickell Flatiron is destined to follow in the footsteps of other bar-setting Colombo projects such as Santa Maria, Bristol Tower, Grovenor House, and Epic, and be considered one of the best condo developments in Miami, not only once it is completed but for many years to come. The developer still has great units remaining, so if you have an interest in reserving one, please don’t hesitate to contact me. These units go straight contract. The developer started converting reservations to contracts last month. I can be reached on my cell phone at 786-247-6332 or via email at [email protected].
One Thousand Museum Groundbreaking Ceremony Set for Tomorrow at 11:30am
While out for a stroll earlier this morning, I noticed that signage marking the parameter of the One Thousand Museum site was up and ready to go for tomorrow’s groundbreaking ceremony. The ceremony will run from 11:30am to 1:30pm and present, as the guest of honor, will be Zaha Hadid herself.
Just Listed – Unit 2402 at Ten Museum Park – Asking $969,000
I am pleased to introduce my newest listing at Ten Museum Park – unit 2402 – a beautiful 2 bedroom, 2.5 bath, bi-level loft with over 1,800 interior square feet and a private balcony overlooking the newly opened Museum Park. The property features soaring 20-foot ceilings with floor-to-ceiling glass windows; stainless steel appliances by Sub-Zero, Miele, and Bosch; a Terrazzo-topped custom kitchen island; utility room with full-size washer and dryer; a full glass-enclosed shower with rainfall shower head; and direct, unobstructed views of the Atlantic Ocean, Biscayne Bay, and Miami Beach skyline.
As of this posting, unit 2402 is the best priced unit in the building among those that offer a direct water view. As you may recall, I recently listed and sold unit 1802 – a 2 bedroom located six floors directly below unit 2402. That one received multiple offers and went under contract within 7 days. With peak season right around the corner, I am confident that interest in this property will be equally as great.
Below, you will find additional photographs of unit 2402 at Ten Museum Park. If you or someone you know have an interest in viewing this property in person, please contact me via email at [email protected] or on my cell phone at 786-247-6332.
Paramount Miami Worldcenter – Now Accepting Reservations!
The moment has finally arrived – reservations for condos at Paramount Miami Worldcenter are now being accepted. In this initial offering, the developer is releasing just 60 of the tower’s 470 total units. Each residence at Paramount Miami Worldcenter will have 10-foot ceilings, a private elevator, and either 11-foot or 14-foot deep terraces. To give you sense for the size of the terrace space, they are as large or larger than most master bedrooms in Miami. The floor plans are huge! The smallest 1 bedroom condo has 1,294 interior square feet; the smallest 2 bedroom condo has 1,690 interior square feet; and the smallest 3 bedroom condo has 2,320 interior square feet. Paramount Miami Worldcenter reminds me of something out of Las Vegas mixed with Time Square. I will have the renderings within the next couple of days. Be ready to be impressed. This development is truly remarkable. Contact me for additional details.
Paramount Miami Worldcenter will rise 700 feet and include 466 total residences comprised of the following mix of units:
1 bedroom + den/2 bath (ranging from 1,294 interior square feet to 1,386 interior square feet) – starting at $690,000
2 bedroom + den/3 bath (ranging from 1,630 interior square feet to 1,753 interior square feet) – starting at $980,000
3 bedroom + den/4 bath (ranging from 2,320 interior square feet to 2,376 interior square feet) – starting at $1,400,000
Villas (will be released at a later date – located on the 9th floor; private swimming pool and rooftop Jacuzzi; approximately 3,000 interior square feet) – TBD
Penthouses (will be released at a later date – located on floors 46 through 54) – TBD
Below is the Paramount Miami Worldcenter building floor plan key for condos located on floors 11-45:
Below are the floor plans for condos at Paramount Miami Worldcenter. They are displayed in order starting with the 01 line and ending with the 12 line. Take note of the size of the terraces (AKA “outdoor living rooms”).
Amenities at Paramount Miami Worldcenter will include the following:
9th Floor Amenities
Conservatory
Recreation Lounge
Outdoor Lounge
State-of-the-art Fitness Center
Boxing Studio
Aerobics Area
Treatment Rooms
Hair/Nail Bar
Outdoor Bath Gardens
Kids Play Room
Video Game Play Room
Social Lounge (Pool Table, etc.)
Karaoke/Jam Room
Recording Studio
10th Floor Amenities
Resort-style Pools with In-pool Cabanas
Walking Paths
Picnic/BBQ Areas
Yacht Skyview Deck amenities located at the very top of Paramount Miami Worldcenter
Skyview Lounge
Pool
Bar
Yoga Deck
Deposit schedule for Paramount Miami Worldcenter is as follows:
10% at reservation – NOW
10% at contract (1st quarter of 2015)
10% at groundbreaking (2nd quarter of 2015)
10% at 8th floor (4th quarter of 2015)
10% at top-off
50% at closing (Summer 2018)
Paramount Miami Worldcenter development team:
Developer – Daniel Kodsi, Art Falcone, and Nitin Motwani
Architect – Elkus Manfredi Architects
Interior Design – ID & Design International
The following videos provide an overview of the Miami Worldcenter Master Plan which includes not only Paramount Miami Worldcenter but also The Mall at Miami Worldcenter:
Miami Luxury Homes See 11.5 Percent Price Increase in Q3
With an 11.5% increase year-over-year in the third quarter of 2014, luxury home prices in Miami ranked 7th out of 33 key global cities tracked in the Knight Frank Prime Global Cities Index. As should be expected, within the past 6 and 3 months, prices for luxury real estate in Miami saw a decline of 3.6% and 4.1% respectively. The third quarter, which includes the months July through September, is typically the slowest quarter for Miami real estate. This price trend should reverse itself over the next two quarters as the weather in other parts of the world becomes progressively colder. In my opinion, all eyes should be on the figures for the first quarter of 2015. Q1 tends to be the best performing quarter for Miami luxury real estate and should provide an indication as to where prices may head. Any signs of weakness in Q1 could spell trouble for luxury home prices throughout 2015 and 2016.
Paramount at Miami Worldcenter – Preconstruction Condo Sales Coming Soon
The moment is almost upon us – a moment that has been in the making since 2008 when the Miami City Commission approved a development agreement with Miami Worldcenter and endorsed its Master Plan for Downtown Miami. Fast forward to the present and that Plan is about to become a reality. Spanning nearly 30 acres with projected costs over $1.5B, Miami Worldcenter will be the second largest urban development in the United States. It will include 765,000 square feet of signature retail anchored by Bloomingdale’s and Macy’s, 4.5 acres of open space, 7,000 new parking spaces, and an ultra-modern Marriott Marquis World Convention Center Hotel with 1,800 rooms, 600,000 square feet of convention space, and an 80,000 square foot outdoor event deck. To top it all off – literally – the Master Plan for Miami Worldcenter will include multiple residential towers with over 1,000 units.
The first residential tower to launch will be Paramount Miami Worldcenter – a luxury condo development rising over 700 feet with 60 stories and 466 total condo units. Yesterday evening, along with a few of my close clients, I received a full presentation and must say that I was blown away. I am not at liberty to divulge much else in such a public forum but will say that that Friends & Family pricing is set to launch in the coming weeks followed by a more public launch towards the end of this year. If you have even the faintest of interest, please do not hesitate to contact me for additional details. You may reach me at [email protected] or on my cell phone at 786-247-6332.
To give you a better sense for Miami Worldcenter’s Master Plan, I have included a few videos below:
Just Sold – Ten Museum Park Units 1802 and 1708
Units 1802 and 1708 at Ten Museum Park are now officially closed. Unit 1802 (pictured above) – a 2 bedroom, bi-level loft with 1,802 interior square feet – sold in just 7 days for $900,000 while unit 1708 (pictured below) – an 808 square foot 1 bedroom condo – sold in just 16 days for $338,000. It came as no surprise since both units showed beautifully and were attractively priced. The $900,000 price paid for unit 1802 was the highest price ever paid for a 2 bedroom, non-corner unit at Ten Museum Park. I represented the seller in the sale of unit 1802 and represented both the seller and buyer in the sale of unit 1708. I now have unit 1708 listed for rent with an asking price of $2,450 per month. If you or someone you know may have an interest in renting it, please contact me for additional details and/or to request a showing. See bottom of this post for a video of unit 1708.
Video of Ten Museum Park #1708:
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.
