Mario Chalmers of the Miami Heat Purchases 5 Bedroom Condo at Marquis Residences from Drake
Miami Heat point guard Mario Chalmers will now have a short commute to work. The Miami Herald reported on Friday that he recently purchased a 5 bedroom/6 bath condo at Marquis Residences in Downtown Miami for $2.6M. Marquis Residences is located at 1100 Biscayne Blvd, just 5 short blocks away from the American Airlines Arena, home of the Miami Heat. The condo was previously owned by hip-hop/rap artist Drake who placed two side-by-side units at Marquis Residences under contract last September then later combined them.
Marquis Residences Honored with ‘Americas Property Award’
Marquis Residences, a 67-story luxury condominium development located in Downtown Miami was recently honored with the prestigious Americas Property Award in the Residential High-Rise Development category. The developer of Marquis Residences, Africa-Israel USA, will accept the prestigious award on December 12 at The International Property Awards to take place at The Savoy Hotel in London. Marquis Residences will then compete against category front-runners from the Asia Pacific, Europe, Africa, Arabia and the United Kingdom for the coveted title of “World’s Best”.
Marquis Residences was designed by the world-acclaimed architectural firm Arquitectonica. The 292-unit condominium high-rise was completed in 2009 and currently has limited developer inventory remaining. Prices range from $590,000 for a 1,477 square foot 2 bedroom/2.5 bath condo to $2.2M for a 3,017 square foot 2 bedroom/2.5 bath duplex penthouse.
01 Line at Marquis Residences
The 01 line at Marquis Residences is one of the most sought after lines amongst luxury condo developments in Miami. Located on the southern end of the building, the flow-through unit offers both sunset and sunrise views along with views of Downtown Miami, Biscayne Bay, the Miami Beach skyline and the Atlantic Ocean. From floors 23-60, the 01 floor plan at Marquis Residences is a 3 bedroom/2.5 bath condo with 2,106 square feet of interior and a 243 square foot balcony on the east side of the unit.
We decided to make a video showcasing the 01 line at Marquis Residences because we have recently received a lot of interest from potential buyers regarding that particular line. We also feel that the unit offers the best views and pricing amongst developer inventory that is currently on the market. The video below shows a model unit at Marquis Residences located on the 48th floor. Marquis Residences is located at 1100 Biscayne Boulevard in Downtown Miami.
If you’re in the market for a luxury condo rental in Downtown Miami then you may want to take a look at the two gems below. Both rentals are stunning and came onto the market earlier this afternoon.
The first is a 4 bedroom/4.5 bath bi-level condo at Marquis Residences. The 57th floor unit has 3,880 square feet of interior with wood flooring throughout and comes fully furnished. Asking price is $12,000 per month.
The second rental is a 3 bedroom + den/4.5 bath penthouse at 900 Biscayne Bay. The unit has 3,493 square feet of interior, marble flooring throughout and an over-sized terrace unique to the 59th floor. The floor plan is pretty spectacular. Asking price is $8,900 per month. The condo is also available for sale at an asking price of $2,099,000.
900 Biscayne Bay #5901 – 3 bedroom + den/4.5 bath – $8,900 per month
Don’t hesitate to contact us if you have an interest in viewing either of the above two rentals. If these properties aren’t quite what you have in mind, please feel free to use our property search to find a rental that suits your style and needs.
Downtown Miami Rental Market
Below, is a spreadsheet I compiled earlier this afternoon that shows various statistics regarding the Downtown Miami condos rental market. Click on the link below the spreadsheet to view it in its entirety. I calculated the months of inventory figure by dividing total units available by the average units rented over a three month period from December 1, 2010 to February 28, 2011. You will see that Downtown Miami currently has 2.55 months of rental inventory.
Downtown Miami Rental Market as of March 15, 2011
First Resale at Marquis Residences
The first resale has closed at Marquis Residences. A 4 bedroom/4.5 bath, bi-level condo recently sold for $1.85M, or $487 per square foot. The unit has 3,800 square feet of interior, 428 square feet of terrace and a stunning view from the 57th floor. Also, the original owner didn’t spare any expense in building out the unit. According to the MLS listing, over $300,000 was spent on build-out improvements. Developer inventory still remains so give us a call if you have an interest in purchasing a luxury condo at Marquis Residences.
21 Unit Bulk Sale at Marquis Residences
Sales at Marquis Residences ended 2010 on a high note. Optibase Real Estate Miami LLC acquired 21 luxury condos at Marquis Residences on December 30, 2010. The entity paid a net purchase price of $8.6 million. It’s important to note that the 21 units represents approximately 7 percent of the 292 total units at Marquis Residences. This is under the 10 percent threshold which would prohibit Fannie Mae approval in the future.
Marquis Residences is a 67-story luxury tower located at 1100 Biscayne Blvd, Miami, FL 33132.
Drake Puts Two Condos at Marquis Under Contract
Inside sources recently revealed to me that 23-year old hip-hop/rap artist Drake has placed two side-by-side condos at Marquis under contract. My guess is that he will combine the two units to create a mega-condo. Marquis is a luxury condo building located at 1100 Biscayne Boulevard in Downtown Miami. Ever since prices were slashed this past summer, sales have picked considerably at Marquis. Prices start at $263 per square foot. A few months ago, an 8,042 square foot penthouse at Marquis sold for $4.2M.
We put the finishing touches on our Marquis Miami condos website earlier this afternoon. Once again, we’re delighted with the end result and are proud to officially launch it. The site is dedicated to condo news, listings and information specific to Marquis. There you will find Marquis available condo sales, available rentals, recent sales, recent rentals, floor plans, charts, videos, resident reviews and a blog dedicated to all news relevant to Marquis. Listings for Marquis condo sales and rentals are updated every 24 hours.
This is the third website that we’ve launched within the past month. We are very pleased with the success of our Marina Blue condos website. Within a month of launch Google has already ranked it number 12 for the keywords “Marina Blue condos”. I’m confident that it will continue to move up the rankings in the months to come. We’re currently working on a building specific website for 900 Biscayne Bay condos. That website should be finished within the next two weeks. Our plan is to then launch a website dedicated to Paramount Bay condos in preparation for when the building begins closings.
Miami Real Estate Review – Episode 7
In this episode, we provide an update regarding the developer blowout sale at The Plaza on Brickell that started last Thursday. We also touch upon pricing at Icon Brickell and discuss news regarding Marquis. We end the show by highlighting four noteworthy foreclosures that came onto the market since last Friday.
