Bye Bye Panorama Tower, Hello Panorama

Monday afternoon, while stopping in at the post office located at 1101 Brickell Avenue, I noticed the vehicle shown above parked within a stone’s throw away from the Panorama Tower site.  What I immediately found odd is the absence of the word “tower” from the vehicular advertisement.  On the driver side, it states, “Brickell’s Loftiest Address is Coming Soon – Panorama” while on the backside of the vehicle it reads, “Look What’s Coming – Panorama”.  Perhaps Tibor has decided to make a last-minute change to the development name.  Either that or he couldn’t find a big enough vehicle to fit the name in its entirety.  If completed, Panorama is expected to be the tallest building in Miami.

Change is on the Horizon for Guests and Residents of Marquis Residences

A few weeks ago, it was reported that Africa-Israel USA, the developer of Marquis, had sold the lower 15 floors of the luxury high-rise to CGI Merchant Group (CGI), a Miami-based investment and asset management firm, for $37.5M.  The sale included the Casa Moderna Hotel and Spa, Amuse Restaurant and Lounge, 5,700 square foot retail space, parking garage, and the 14 townhomes that are situated around the pool.

Above, you will find the official notice from the Marquis Condominium Association advising building residents of CGI’s acquisition.  It states:

The Miami Marquis Condominium Association and KW Property Management is proud to announce the sale of the hotel portion of the Marquis Residences. 

CGI Merchant Group, a Miami-based investment and asset management firm, has acquired the lower 15 floors of the Marquis tower including the first floor “gallery” space, parking garage, spa and 14 townhomes.

CGI is planning to transform and re-brand the hotel, joining in partnership with an internationally renowned, 5 star hotelier, soon to be announced.

Plans call for extensive renovation and upgrades to include converting the townhomes into full-floor hotel suites as well as major improvements to the pool deck and gym amenities.  Hotel renovations will include additional luxurious suites and a vibrant new restaurant and event space.

An elegant entrance to the front of the property accommodating the hotel and “gallery” space directly off Biscayne Blvd. will also be included as part of the upgrade.

The Marquis Condominium Board has worked diligently alongside CGI to support the sale while strengthening the relationship by negotiating to have a Condo Board Member represent condo owners at the master level.  This opportunity provides direct feedback from the membership while promoting transparency for all parties involved.

The Marquis Condominium Association welcomes the long overdue improvements and amenity upgrades and looks forward to a long-term partnership with the CGI Merchant Group.

More information will be announced within the next couple of weeks.  CGI is planning a “Meet and Greet” to detail the improvements and answer questions from the residents.

Regards,

Marquis Condominium Association

My guess is that one of the first questions asked by residents during CGI’s upcoming “Meet and Greet” will pertain to valet parking.  Currently, valet parking is free for resident guests.  Will the transition to new ownership mean an end to this long-time practice?  Also, how long will it take for improvements to be completed?  Sounds like the pool and gym may be closed for a long period of time.

I hate to ruin surprises, but “rumor” has it that the hotel will be operated by “Me by Meliá”, which is a luxury hotel brand of Meliá Hotels International with its roots in Spain.  I have also heard that The Darby, a popular restaurant and lounge from New York City, will open its first Miami location at Marquis.

On a side note, I was told earlier today that moving forward only owners will be permitted to have a pet at Marquis Residences.  Sorry renters, but you are out of luck…once again!

Introducing The Bath Club Estates in Miami Beach

Looking to build on the success of his first luxury development in Miami Beach called The Bath Club, Don Peebles returns almost nine years later to launch a follow-up development called The Bath Club Estates. Located at 6747 Collins Avenue in Miami Beach, The Bath Club Estates will rise 15 stories and feature only 13 total units, inclusive of a two-story penthouse and two villas.  Besides the villas and penthouse, each of the units will have a full-floor, fully-customizable floor plan, private elevator and private plunge pool.  Also included with each residence are two fully enclosed garage bays within the parking garage plus two additional bay-area parking spaces.  Interior design services will be provided by famed Alexandra Champalimaud, Jennifer Post, Joao Armentano, and Alison Spear.

Contact me for pricing

Amenities at The Bath Club Estates will include:

• poolside and beachside food and beverage service
• two chauffeur-driven Maserati house cars at your service
• fitness facility and spa rooms
• 24-hour concierge
• membership to The Bath Club
• fully-equipped video-conferencing

Penthouse Sale at Marquis Breaks Record on Per Square Foot Basis

Recently, a record-breaking sale took place at Marquis in Park West Miami.  Unit 6101 – a 4 bedroom, 4.5 bath bi-level penthouse encompassing 3,729 interior square feet – sold last Friday for $2,675,000, or $717 per square foot.  This made it not only the highest sale to ever take place at Marquis on a per square foot basis, but also the first sale in the building to the eclipse the $700 per square foot threshold.  The view – which is amplified by its soaring 20-foot, floor-to-ceiling glass windows – is nothing short of spectacular.  The condo, located on the southeast corner of the 61st floor, offers views of the Miami Beach skyline, Downtown Miami, Biscayne Bay and the Atlantic Ocean.

The penthouse was priced extremely well.  I know firsthand that there was a high level of interest from buyers.  The unit lasted not even two weeks on the market before going under contract and ended up selling $175,000 above asking price.

The unit was purchased decorator-ready directly from the developer in March 2011 for $1,730,000, or $464 per square foot.

It is important to note that this penthouse is not one of the penthouses that includes a rooftop pool.  As you may recall, one of those penthouses sold decorator-ready in June 2010 for $4.2M, or $525 per square foot.  That was the mammoth penthouse at Marquis with 8,000 interior square feet across four levels.  In case you’re wondering, that is the largest penthouse currently in existence in Downtown Miami.  That record will be shattered once THE PENTHOUSE at One Thousand Museum is completed.  That penthouse will have a mind-blowing 15,000 interior square feet.

Marquis condos for sale
Marquis condos for rent

One Thousand Museum – The Best Bargain in Town

There isn’t a preconstruction condo development in town that I’m more excited about than One Thousand Museum.  It will be more than a building.  It will be a work of art.  A work of art that I feel has tremendous upside potential.  Critics cry foul at the $900-$1,200 per square foot prices.  I cry bargain.  In my opinion, there isn’t a better bargain in town.

Keep in mind that critics cried foul when prices at Apogee South Beach pushed $1,000 per square foot.   They thought it was ungodly.  Just four years later, prices there are now over twice that amount.  Also keep in mind that units at Apogee South Beach were delivered decorator-ready while units at One Thousand Museum will be delivered move-in ready complete with ultra-luxe design finishes.

Still, naysayers point to the fact that One Thousand Museum is across the bay.  They feel that condos on that side of the water won’t see prices push $1,000 per square foot anytime soon.  At least, not by 2016 when One Thousand Museum is slated for completion.   I’m here to tell you that prices across the causeway have already eclipsed the $1,000 per square foot mark.  Epic Residences and Paramount Bay have both had units trade for over $1,000 per square foot.  One Thousand Museum will be in an entirely different league.   There’s no comparison.  It will be unlike anything South Florida has ever seen.  And that’s without taking into account the upside potential for the neighborhood as a result of Miami Worldcenter – a 27-acre mixed-use development which will be located directly behind One Thousand Museum.  Completion for Miami Worldcenter is estimated for the end of 2016, just as the first residents of One Thousand Museum move into the building.

To learn more about One Thousand Museum, I highly suggest that you watch the sales presentation below. I captured it recently while wearing Google Glass.

One Thousand Museum sales presentation:

A quick look at the One Thousand Museum floor plans:

One Thousand Museum model kitchen:

New Exclusive Listing – 2 Bedroom with 16-foot Ceilings at Icon Brickell III (Viceroy Tower) – $760,000

Brand new listing at Icon Brickell Tower 3 (Viceroy Tower).  I likely won’t have the listing up on the MLS until early next week because I first want to have it professionally photographed. Yesterday evening, however, I used Google Glass to record a walk-through of the unit so I could give a few of my clients a special preview.  The video is at the bottom of this post.

The 2 bedroom, 2 bath corner unit has 16-foot ceilings, glass tiled floors and a fabulous view of Biscayne Bay and the city.  The condo is being sold fully furnished.  Tower 3 is the only tower at Icon Brickell that allows short-term rentals.  That’s great for investors.  The owner does not have the unit in the hotel program but recently started using an outside company to handle the short-term rentals on her behalf.  To give you an idea as to the kind of income you can expect during high-season, the unit got rented for $7,000 for three weeks from the end of December to mid-January.  The owner gets to keep 80% of it.

Asking price for the condo, including the furniture, is $760,000.  Please contact me if you or someone you know has an interest in learning more about this spectacular residence.  I can be reached on my cell at 786-247-6332 or via email at [email protected].

Update: I have since had a professional photographer take pictures of the unit. Below you will find a slideshow with those pictures.

Brickell Heights Sales Launch Party

Yesterday night, I attended the Brickell Heights sales launch party.  Jorge Perez, Chairman & CEO of The Related Group, and Harvey J. Spevak, President & CEO of Equinox, spoke at the event.  I recorded the presentations and uploaded those videos onto YouTube.  Judging by the empty seats in the row in front of me, it may not seem like the party was well attended but I assure you that it was.  There were lots of people standing along the sides and towards the back of the room.  The footage isn’t great due to the bright screen behind the stage but you can hear everything clearly.

After a brief introduction and unveiling of the Brickell Heights promo video, Harvey J. Spevak spoke followed by Jorge Perez.  Mr. Spevak discussed the impact that Equinox has had on real estate sales for residential developments in New York City with which his brand has been associated.  Equinox will have 35,000 square feet of dedicated space at Brickell Heights.  That will make it the largest Equinox club in South Florida.  Brickell Heights will also have a 3,000 square foot spin studio separate from Equinox called Soul Cycle.  Mr. Spevak noted that Equinox Brickell will have an elite team of personal trainers – some of the best in the world – which will work with members not only at the club but also at a member’s residence if they so desire.

Jorge Perez kept his speech short and sweet but I think he did a terrific job in driving home the message that Brickell Heights is going to be at the center of the action in Miami.  Located across the street from Mary Brickell Village and just one block from the upcoming Brickell City Centre, residents of Brickell Heights will have hundreds of shops, restaurants and bars at their doorstep.  Mr. Perez also explained how Equinox came into the picture.  He envisions a very healthy and active lifestyle for residents of Brickell Heights.  He refers to Equinox as the “Rolls Royce of fitness” and, therefore, a perfect match for a luxury condo development such as Brickell Heights.

Below you will find four videos which cover the presentations that were given at last night’s Brickell Heights sales launch event:

Introduction

Brickell Heights promo video

Harvey J. Spevak, President & CEO of Equinox, presents

Jorge Perez, Chairman & CEO of The Related Group, presents

Alex Rodriguez Looks to Flip 3 Bedroom Condo in Miami Beach

After flipping his waterfront spec home in Miami Beach for a $15M profit earlier this year, Alex Rodriguez is back at it again.  This time, according to Celebuzz, A-Rod is looking to flip a Miami Beach condo he purchased this past June for $2.1M.  Since that time, the property has undergone a complete renovation, with interior design and finishes completed by world renowned designer Briggs Edward Solomon.  Rodriguez now has it listed for $3.2M.  Residing on the southeast corner of a boutique luxury building called Mei – located at 5875 Collins Avenue in Miami Beach – the 3 bedroom luxury condo in Miami Beach has a wrap-around balcony and offers incredible views of the sand and ocean.

Alex Rodriguez is currently fighting a 211-game suspension from Major League Baseball.  The arbitrator, Fredric Horowitz, is expected to render a decision next month.  If unsuccessful in over-turning his suspension, don’t be surprised if we see more from “A-Rod the real estate flipper” in the coming year.

Mei Miami Beach unit 1102 listing

Brickell Heights Sales Presentation Through Google Glass

Brickell Heights will officially launch to the public starting next week on December 9th.  However, reservations are now being accepted through select VIP brokers (such as myself) as part of the developer’s Friends & Family program.  The starting prices shown towards the bottom of this page are for Friends & Family and are subject to change once the project officially launches next week.  Brickell Heights is a two-tower condo development.  At this time, only units in the east tower are available for reservation.  Keep in mind that the east tower is closer to the water and will have better views than those residing in the west tower, so now is the time to act if you are contemplating making a reservation.

Yesterday afternoon, I met with the Brickell Heights Sales Director and she was kind enough to give me a presentation while I was wearing Google Glass to record it.  At a later date, I will go more into detail about Google Glass and explain how I plan to apply this new technology to my real estate business.  I have very big and exciting plans for it, so stay tuned!  I will say, however, that at this time, Google Glass is not available to the public and can only be acquired by invitation.  As far as I know, I am the only real estate agent in Miami who currently has Google Glass.  In fact, there aren’t many people in Miami period who have it at this time.

The sales presentation for Brickell Heights was given to me in English and Spanish.  Towards the bottom of this page you will find the English version followed immediately by the Spanish version.  Before we get to those, I first want to provide a general overview of this exciting preconstruction condo development.  As I mentioned in my last blog post, location is going to be a HUGE selling point for Brickell Heights because it will be located right in between Mary Brickell Village and the upcoming, 5.4 million square foot mixed-use development called Brickell City Centre.

Brickell Heights – Overview

• Address – 850 South Miami Avenue, Miami, Florida 33131
• Developer – The Related Group in collaboration with Crescent Heights
• Architect – Internationally-renowned architectural firm Arquitectonica
• Interior Design – Rockwell Group
• Number of units – the east tower of Brickell Heights has 358 total units
• Number of floors – the east tower of Brickell Heights has 48 stories
• Fitness – Equinox

Brickell Heights – Building Features

• Dramatic double-height lobby designed by David Rockwell
• World-class façade installation by renowned Argentinean artist Fabian Burgos
• High-design condominiums with extraordinary contemporary finishes
• Luxuriously landscaped pool terrace at the 8^th floor with three pools including a lap pool for Equinox members
• Elegantly appointed screening room available for private screenings
• Exclusive residents-only rooftop Sky Pool deck with breathtaking views of Biscayne Bay and Miami Skyline
• High-performance fitness studio
• Equinox fitness center with 30,000 square feet across three levels
• Soul Cycle Studio with 3,000 square feet
• Two beautifully designed Entertainment Rooms available for private, social and business events
• Engaging Kids’ Club dedicated to children’s activities
• On-demand Concierge service with 24/7 multilingual staff, 24/7 security and receiving desk for mail and other deliveries
• High-speed Internet access in all amenity areas

Unit Descriptions and Price Ranges (*Friends & Family pricing)

The layouts indicated above are for units residing on floors 10-40.  Larger floor plans are available starting on the 41st floor.  Contact me for details.  1 bedroom units increase $2,000 per floor while 2 bedroom units increase $3,000 per floor.

Brickell Heights – Deposit Payment Structure

• 10% of purchase price at reservation
• 10% of purchase price at contract (1^st quarter of 2014)
• 20% of purchase price at ground-breaking (mid-2014)
• 10% of purchase price at top-off (mid-2015)
• 50% of purchase price at closing  (end of 2016)

Now that we have all that out of the way, let’s watch some videos.

Brickell Heights sales presentation in English:

Brickell Heights sales presentation in Spanish:

Even if you do not have the means or motivation to acquire a condo in Miami at this time, I think most anyone reading this blog will find the video below fascinating.  It does an amazing job in capturing the enormity of Brickell City Centre.  At 5.4 million square feet across 9.1 acres, Brickell City Centre is an absolute monster and will forever change the landscape of Miami.  Brickell is already one of the most sought after neighborhoods to live in all of South Florida.  You throw into the mix a development of that size costing over one billion $US, and you are going to have a world-class neighborhood for the ages. In the video, the five large, empty lots just north and northeast of the Brickell Heights building site is where Brickell City Centre will be located. It is currently under construction and is projected to be completed in 2016, the same year that Brickell Heights is scheduled for completion.  The arrows that I included in the video point out the site location for Brickell Heights.

For additional information related to Brickell Heights, visit my Brickell Heights building profile page.  There you will find renderings, floor plans and an e-brochure.  If you have an interest in reserving a unit, or have any questions whatsoever, please contact me immediately.  I expect this project to sell out quickly and am already amazed by the response that I have had for it thus far.  When it comes to convenience and having everything at your doorstep, you really can’t ask for a better location than Brickell Heights – especially at these prices!

I can be reached via email at [email protected] or on my cell at 786-247-6332.

To stay on top of the latest news related to the Miami real estate market, circle Miami Condo Investments on Google+.  Be sure to also subscribe to our YouTube channel to catch all our upcoming videos through Google Glass.