Updated Video and Brochure for One Thousand Museum
For those of you who have not had a chance to check out the latest promo video for One Thousand Museum go check it out now It is pretty spectacular I believe the video has been around since last month but it wasnt until earlier this week that I actually sat down and watched it in its entirety The video not only does an outstanding job of showcasing the amazing design of the building and jaw dropping views it also highlights the promise of what is to come for Miami more specifically for Downtown Miami It is this promise and the excitement that surrounds it that will inevitably propel real estate values in Miami past those last seen at height of the market in early 2007 With Museum Park set for completion in 2015 the ever impending formal announcement of Miami Worldcenter and the recently proposed Skyrise Miami there is a lot to be excited about in Downtown Miami
Fully Furnished 2 Bedroom + Den with 16-foot Ceilings at Icon Brickell II – $5,400/mo
Within the next month, a client of mine will be closing on a 2 bedroom + den at Icon Brickell Tower 2. The unit is very unique because it features soaring 16-foot ceilings from the 41st floor. This is the highest floor in the building that has high ceilings. The unit also includes motorized shades in both bedrooms, three crystal chandeliers, TUI furniture package and a state-of-the-art electronics package. Electronics package includes: Blu-ray 3D player, 3D TV and 3D surround sound system. Wake up each morning to a breathtaking view of Biscayne Bay from the 41st floor. 1 assigned parking space. Rent includes basic cable TV, Internet & water. Asking price is $5,400 per month. If you have an interest please contact me at 786-247-6332.
4 Bedroom Condo at The Setai South Beach Hits the Market for $25M
A combined five-unit condo at The Setai South Beach hit the market earlier today for $25M. The 33rd floor residence spans approximately 5,400 interior square feet and includes four bedrooms, four full baths, two half baths, a formal living room, casual dining room, spa and entertainment lounge area. The unit also comes with five valet parking spaces.
Foster + Partners Releases Video of Faena House and the Faena District in Miami Beach
Earlier this week, Foster + Partners released additional renderings of Faena House. They have now released a fly-through video (see below) which showcases Faena House and the Faena District in Miami Beach. The 18-story, ultra-luxury development is truly stunning. Faena House is scheduled for completion in fall of 2014. 50% of its condos are already under contract.
The developer, Alan Faena, is asking $50M for the penthouse pictured above. Without a doubt, once completed, the penthouse will be one of the most highly acclaimed pieces of property in South Florida. It will have 8,273 interior square feet and approximately 10,000 square feet of terrace space which will accommodate an outdoor kitchen, cabana and 30-foot-long infinity-edge pool.
Preconstruction Sales for 600 and 700 Biscayne Blvd to Launch Soon?
While driving through Downtown Miami earlier this week, I noticed a number of signs at each corner of the sites for 600 and 700 Biscayne Boulevard. The signs say “Another Luxury Development by Chateau Group”. A telephone number is also included. Despite a number of calls, however, I have yet to obtain any additional information. Just assurances that a sales person would contact me soon. The lots are located immediately south of Marina Blue and just north of the Freedom Tower. I have heard rumors for months that pricing will range from $600-$800 per square foot for non-penthouse units at each of the two developments but I’m sure at this point not even the developer knows for certain. It will be an interesting addition to the array of preconstruction condo developments that have been announced for Miami within the past year. With the exception of One Thousand Museum, no other luxury condo developments have been announced for Downtown Miami. The vast majority of them are located in Brickell or Edgewater.
Update: I just saw the exact same Chateau Group sign at the entrance of Gulfstream Park in Hallandale Beach. There’s a a large lot at the intersection of NE 10 Ave and Hallendale Beach Blvd. Is Chateau Group planning to build a luxury condominium development at that location as well?
Pharrell Williams’ Miami Penthouse Marked Down $5.9M
It appears that the market for Miami penthouse condos is not all sunshine and rainbows. Despite a red hot Miami luxury real estate market which has seen an array of record-breaking penthouse sales during the first half of this year (See Exhibit A, Exhibit B, Exhibit C and Exhibit D), the Bristol Tower penthouse currently owned by hip-hop sensation, Pharrell Williams, has seen its price slashed $5.9M since hitting the market this past November. Initially set at $16.8M, the tri-level mansion-in-the-sky was recently marked down to $10.9M – a whopping 35 percent price reduction!
Formerly the residence of Bristol Tower developer, Ugo Colombo, the 5 bedroom, 6.5 bath penthouse features 9,080 interior square feet, private elevator entry, grand living spaces with impressive floor-to-ceiling glass walls, a 180-degree wrap-around balcony, 7 assigned parking spaces and rooftop terraces with summer kitchen, pool and Jacuzzi. The one-of-a-kind penthouse also sports a sensational view! It offers sweeping 360-degree views of Biscayne Bay, the Atlantic Ocean and sparkling city lights at night along with the opportunity to enjoy both the sunrise and sunset each day.
According to property records, Mr. Williams acquired the penthouse in March 2007 for $12,525,000.
Miami Ranks Third on Knight Frank’s Q1 2013 Prime Global Cities Index
It is no secret that the Miami luxury real estate market has performed remarkably over the past twelve months. The latest report from Knight Frank confirms this. The Miami luxury real estate market ranked third behind Jakarta and Bangkok on Knight Frank’s Q1 2013 Prime Global Cities Index. Year-over-year, eight cities recorded double digit price growth for luxury homes but Jakarta, Bangkok and Miami led the way, recording annual price growth of 38.1%, 26.1% and 21.1% respectively. Surprisingly, prices for prime property in New York City declined 7.1% in the same time period, according to the same report.
The Future of Real Estate Marketing
In an earlier blog post, I had mentioned that several big changes with my real estate business had taken place over the past couple of months. Well, one of those big changes was transferring my real estate license to a new broker. I now have my real estate license hung with Luxe Living Realty. While many may have never heard the name, those who keep close tabs on the Miami luxury real estate market, and its practitioners, likely will have heard of Dora Puig. She has over 23 years of experience in selling high-end, luxury real estate and, over the past couple of years, has grabbed huge market share from her competitors (ie. other local brokers and agents specializing in Miami luxury real estate). She is the same Dora Puig who sold a penthouse at Icon South Beach last December for $21M. At this time, Dora personally has over $140M worth of real estate listings, including the $39M penthouse listing at Continuum South Beach South Tower, the $18.5M penthouse listing at Ocean House and, recently, a $14.5M combination residence at Continuum South Beach North Tower with just under 5,000 interior square feet. Dora has beat out competitors when interviewing for big listings such as these by continually thinking outside the box and coming up with innovative yet glamorous ways to market her luxury real estate listings. It was a no-brainer for me when presented with the opportunity to work under her new brokerage and learn from one of the best in the industry.
Just a few weeks ago, Dora was one of three finalists for the “Most Innovative Method of Marketing Award – Real Estate Agent” presented by the Miami Beach Chamber of Commerce. Her nomination came as a direct result of her social media efforts over the preceding year. In my opinion, when it comes to social media, no one in the local real estate market does it better than Dora Puig. The level of engagement she has with her followers on various social media platforms is quite impressive. These outlets have allowed her to stay connected with past and current clients by keeping them informed of any news affecting the local real estate market. Social media has also allowed her to expand her network and earn new followers who at times later convert into business. In a world where a friend’s referral or public “Like” can mean all the difference, the importance of social media can no longer be ignored.
Unfortunately, Dora did not take home the crown last month for the “Most Innovative Method of Marketing Award – Real Estate Agent”. She did not sulk about it though. Instead, Dora began to question “Is there a better way of doing things?” – not for the sake of winning an award but for the sake of effectively marketing her listings and, therefore, providing an even higher level of service to sellers. I have always been a proponent for using video to market real estate. I suggested that she give it a try. Being open minded and innovative as she is, Dora jumped on it. I wanted her to do real video though. Picture slideshow videos would no longer cut it for these types of listings. Her $10M+ listings deserve true-to-life, HD-quality video tours – something akin to what you would see on Million Dollar Listing. Her video crew delivered in spades. The video below is a guided video tour of her $14.5M combination residence listing at Continuum South Beach North Tower (50 South Pointe Drive #3301-03, Miami Beach, FL 33139). I don’t know of a single other real estate agent in Miami who is doing video quite this way.
There is no doubt in my mind that this is the future of real estate marketing – especially for a market like Miami where the impact of the foreign buyer is so obvious. No one is saying that these luxury real estate videos will entice foreign buyers into purchasing a $10M+ property sight-unseen. However, I am certain that these types of videos stand a far better chance of convincing a potential buyer into booking an airline ticket to Miami to take a look in person than pictures do alone. Take a look for yourself and see what you think. I would love to hear your comments.
Penthouse Floor Plans Released for SLS Brickell Residences
Preliminary floor plans for the penthouses at SLS Brickell Residences have been released. You will see below that there will be a total of seven floor plans on the penthouse level but only five of them will have unique layouts when compared to the other floor plans in the building. The five uniquely designed floor plans will essentially combine one and two bedroom floor plans from other levels to create larger spaces which will range from 1,845 to 2,332 interior square feet. Unfortunately, these units will not have a rooftop terrace or other distinguishing features which are typically associated with penthouses. There will, however, be a rooftop pool but that will be for all residents in the building to enjoy and not just those who own a penthouse. Regardless, if you are excited about SLS Brickell Residences but feel that the floor plans are too small, the penthouses might be a great opportunity to look into. However, being that there are only five combination units in the entire building, I do not expect availability for these to last long.
A $100,000 deposit is required to reserve a penthouse at SLS Brickell Residences. The balance of 20% will be required at contract, which should take place sometime between May and July. Contact me if you have an interest in reserving one (or heck, all five) penthouses at SLS Brickell Residences.
