Russian Buyer Purchases MarinaBlue Condo with Cryptocurrency
Cryptocurrency has made headway this past year within the real estate market. To compete with multiple offers or to make offers more appealing, buyers have been utilizing different types of the digital currency.
The digital asset is not only being accepted for real estate transactions but for the purchase of goods and services as well. Miami nightclubs, retail shops, and airlines are starting to accept this form of payment. Other large chain retail stores including Overstock.com, Microsoft, and Home Depot are also on the crypto train.
Within the real estate market, many developers are beginning to accept crypto on their new construction towers. PMG was one of the first developers to begin accepting crypto on their new construction tower, E11EVEN Hotel & Residences. A penthouse at Arte Surfside was also recognized for being one of the largest cryptocurrency transactions ever.
Lucas Lechuga recently closed on a MarinaBlue unit #4803 to a buyer from Russia for $465,000. The buyer purchased the unit using cryptocurrency. The unit itself features 1 bedroom + den, 1.5 bathrooms that offered views of the ocean, downtown Miami, and Biscayne Bay. This unit boasts 10-foot ceilings with floor-to-ceiling glass windows and marble flooring throughout.
This unit is considered the second-highest price sale for a 1 bedroom ever at MarinaBlue.
Floor-to-ceiling Impact-resistant Sliding Glass Doors and Windows
9-foot Ceilings in Most Condos; 10-foot Ceilings starting on the 44th Floor; Lofts with 18-foot Ceilings
Penthouse Units with 20-foot ceilings
Full-size Stackable Washer and Dryers by Frigidaire
European-style Cabinetry and Stainless Steel Sink in Kitchen
Stainless Steel Refrigerator/Freezer, Microwave and Oven/Stove by Whirlpool
Master Bath Features Marble Floors and Double Vanity
Spacious Walk-in Closets
If you or someone you know have an interest in purchasing one of the units at MarinaBlue, or any information on the cryptocurrency process, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Marina Blue’s New Valet Drop-off Area Scheduled to be Completed in 5 Weeks
Courtesy of the Marina Blue Condominium Association
After six-plus years of petitioning to the City of Miami, the Marina Blue condominium association has FINALLY triumphed in its quest to gain usage rights of the sidewalk area located immediately in front of its lobby entrance (northeast corner of the building). With construction well underway, residents and guests of Marina Blue will now be able to use the area for valet drop-off. It will feature a roundabout design and is scheduled to be completed in approximately five weeks.
Until recently, the City of Miami had forbidden vehicular traffic on this area fearing that it would interfere with the sidewalk’s geometric design created by Brazilian landscape architect Roberto Burle Marx. The design, which can only truly be appreciated from high above, took 20 years to be completed. A 1988 city ordinance had mandated that future developers pay for the cost to install the sidewalk patterns as each parcel along Biscayne Boulevard was developed.
The improvement should be a boon not only for Marina Blue, but also for traffic in the immediate area. It’s not uncommon to see a long line of parked Uber drivers and food delivery cars up and down Northeast 9th Street. Not only has this become a dangerous situation for residents entering and exiting the building’s parking garage, the congestion restricts the flow of traffic along that street.
Courtesy of the Marina Blue Condominium Association
Courtesy of the Marina Blue Condominium Association
A Look at the Largest Non-Penthouse Floor Plan at Marinablue
They don’t build ’em like they used to is a phrase often said these days when comparing today’s condo floor plans to those of yesteryear. Nowadays, a 2 bedroom floor plan encompasses 1,000 to 1,300 interior square feet, up to 1,500 if it includes a den. Back in the Golden Age of Real Estate development (circa 1980s), it wasn’t uncommon to find a 2 bedroom floor plan with upwards of 1,800 interior square feet (e.g. Villa Regina #T105 built in 1982). While gone are those days, let’s rejoice in the fact that present-day developers, while albeit trying to maximize every square inch they can, still tend to sprinkle in a few larger floor plans throughout the building to appease the “throw-back Thursday” crowd. Take unit 5405 at Marinablue for example. It is one of just 21 unique, over-sized 2 bedroom floor plans in the building. In fact, it is the largest and the only one of its kind that exists in entire building. Per developer floor plan, unit 5405 is a 2 bedroom + den/2.5 bath unit with a whopping 1,784 interior square feet. It also has 223 square feet of balcony, 10-foot high ceilings with floor-to-ceiling glass windows, and sweeping views of the Atlantic Ocean, Biscayne Bay, and Downtown Miami skyline. Below are the property photos for those who would like to have a look-see. It recently hit the market for $789,000.
Harem-Inspired MarinaBlue Party Pad Gives Us a Lesson in Over Improvements
Buckle up, my friends. We’re about to go on a tawdry real estate magic carpet ride! If you’ve ever been curious about the idea of over improvements in real estate, here is a prime example. The listing agent of this 1,208 square foot 2 bedroom condo at Marina Blue describes it as ‘exotic’… and indeed it is!
The idea of over improvement is when someone spends a ton of money on renovations, hoping to increase the value of a property. The only problem is that in the process of overdoing it they alienate most of their target market and end up having to settle for a lesser amount when a deal is finally made. An example would be paying to remove a marble floor and replacing it with another marble floor that is far more expensive but not that much different. You won’t get your money back on that upgrade. Another example would be knocking down all the walls in the apartment, removing the kitchen to make way for an enormous wet bar, building a jacuzzi in your living room and then adorning it all with silk and mother of pearl… which is what happened here.
To be fair, I don’t have a problem with Moroccan design. It can be pretty when done right. However, when you are selling or leasing a property, you want that property to fit the tastes of as many people as possible so that you can find a deal more quickly and be able to negotiate more money from the deal. Alienating all of those people who may not like Moroccan design is not the way to do it. Finding that one person who wants a step-up jacuzzi in their living room might take a bit longer. I’m all for cocktail hour, but still need a kitchen and I think most of Miami agrees.
I just want to tell this apartment to settle down, and I certainly don’t want to think about what has gone on inside. It has been on the market now for almost 4 months, in a building where it typically takes less than 2 months to find a tenant and get them qualified/approved/moved-in. Originally the landlord was asking $4,500/month, but it has recently been reduced to $3,800/month. What do you think it will end up trading for? Which feature sticks out most to you? Every time I look at the photos, I find something else to gawk at.
The staircase to the living room bathtub
Close-up of the living room bathtub
Kitchen turned full bar
Master bath with ALL of the tile and scenescape wallpaper
Another bathroom with more mother of pearl
Proof that this apartment is in MarinaBlue
God Bless America! New CVS at Marina Blue Opening on Monday, Independence Day
Photo by Sean McCaughan.
Sometimes it feels like drug stores are taking over the world. They’re like the Starbucks of the 21st century, but really you just can’t overestimate the convenience of a good Walgreens or CVS. The residents of the condo towers facing Museum Park will have to suffer through the inconvenience of not having shampoo, Ex Lax, OxyClean, band-aids, and beer within walking distance no longer! CVS is opening on the ground floor of Marina Blue on Monday, Independence Day. God Bless America!
UPDATE: CVS opened Saturday at 3 PM.
On Saturday it Rained, No it Poured, Patio Furniture in Miami
During the storms over the weekend patio furniture rained over Biscayne Boulevard and Downtown Miami. And we’re not talking one or two pieces, we’re talking entire patio sets picked up by the wind from condominium balconies along the Boulevard and strewn across the city, Museum Park, and Biscayne Bay bellow. YouTuber Eric C took two incredible videos from Marina Blue in Downtown Miami, recording furniture flying off of neighboring buildings to the street below. According to the New Times/Wunderground, the highest wind gust recorded in Miami on Saturday, the day the videos were taken, was 37 mph, but that was at Miami International Airport. Isolated wind gusts along Biscayne Boulevard may have been higher; as high as 55 or 60, which sounds plenty fast to pick up a plastic patio set.
Of course if Eric C had joined it, then it would be raining men, and that would be a sight. Hallelujah!
Kukaramakara Moving into Revolving Door Retail Space at 900 Biscayne
Kukaramakara. Photo by Lucas Lechuga
The ground-floor retail/restaurant space at 900 Biscayne Bay has had a series of tenants sine the building’s completion in 2008. but will the building’s latest entree be the right fit? Kukaramakara, a live band venue just opened over the past weekend. Up until 2 or 3 weeks ago, the space was occupied by Libar Steakhouse, before that Doma Polo Bistro, and before that another place, which, if we remember correctly, was an Argentinian restaurant. Meanwhile the space itself was put on the market for sale earlier this year.
The space is a great example of the amount of retail turnover on this stretch of Biscayne Boulevard, the so-called Biscayne Boulevard wall. The Marquis had a hotel, and now it’s about to have another hotel. 888 Biscayne Boulevard/Marina Blue is getting a CVS in their corner space. The ground floor retail space at Ten Museum Park has never had tenant. And soon One Thousand Museum will be adding more retail square footage to the row. With new construction happening nearby, a neighborhood in transition, and lots of traffic along Biscayne Boulevard, when will the stretch reach some stability?
CVS Pharmacy Coming to Marina Blue in Park West
It appears that a big change is on the horizon for Park West. This weekend, I was told by three independent sources that a CVS Pharmacy will be opening next year at Marina Blue. The pharmacy chain has signed a lease to occupy a big chunk of the building’s street level retail space which currently consists of four separate commercial units, three of which are tenant-occupied at this time. According to one of my sources, in order to make way for CVS Pharmacy, the three tenants (a nail salon, restaurant, and real estate office) will be vacated by November 1st; the tenants received notices about six months ago when the commercial spaces were placed under contract by a recent buyer for an undisclosed amount. As a result of these dealings, the restaurant tenant, Elia’s Gourmet, which has been a long-time commercial tenant at Marina Blue, will be relocating to a larger space along the north side of 900 Biscayne Bay.
Given that there’s already a CVS Pharmacy just six blocks south of Marina Blue at Vizcayne, the choice of locations is a bit peculiar, but not completely surprising. After all, Marina Blue is located catty-corner from the American Airlines Arena, so the new CVS Pharmacy should see a good amount of foot traffic come its way as a result of Miami Heat basketball games, music concerts, and other events held at the stadium throughout the year.
East side of Marina Blue along Biscayne Boulevard
South side of Marina Blue along Northeast 8th Street
Marina Blue Open House Thursday, July 2nd
Tomorrow, July 2nd (Thursday), from 12pm to 2pm, I, along with another agent, will be holding a progressive open house at Marina Blue. Units 5602 (pictured above), 3609 (pictured below), and 4809 will be open to the public. Please join us to tour these three magnificent condos, each offering breathtaking water views. Marina Blue is located at 888 Biscayne Blvd (at the corner of Biscayne Boulevard and Northeast 9th Street). Valet parking is located on the north side of the building. Refreshments will be served.
Unit 5602
Asking $825,000
2 bed/2.5 bath condo with 1,331 interior square feet
Turnkey furnished with over $250,000 in upgrades, furniture, lighting, electronics, and artwork
Throughout my career, technology has played an instrumental role in the success of my business – from implementing the latest website technologies to launching mobile apps for the Miami condo market. One such technology that has been a mainstay in my business is video. Since at least 2006, I have incorporated video in my real estate business to capture and market properties online. Back then, to capture a video tour of a property, I would strap a digital camcorder to a tripod and push it around on dolly wheels. Since then, not only has video technology improved significantly but the means with which to capture footage has seen major advancements as well. Perhaps the most notable of these advancements is drone technology. By attaching an HD camera to a drone, one is able to capture breathtaking shots from way up high. It also is a fabulous way to provide geographic perspective to an online audience who may not be familiar with the location of a property.
Over the past year, I’ve been waiting for the perfect opportunity to integrate aerial footage captured via drone to my marketing arsenal. My recent listing of unit 5602 at Marinablue – a turnkey furnished 2 bedroom condo located just one floor below the penthouse level – seemed more than ideal. The video above demonstrates the power of drone technology in capturing stunning footage from the skies above. After watching it, I am sure you will agree that drones and real estate are a match made in heaven.
Marinablue is located at 888 Biscayne Blvd in Downtown Miami – directly across the street from Museum Park.
Courtesy of the Marina Blue Condominium Association
Courtesy of the Marina Blue Condominium Association
Courtesy of the Marina Blue Condominium Association
