Almost 40% of Downtown Miami Residents Have Pets – Strategies for Investors and Tenants

The Downtown Miami DDA (Downtown Development Authority) released its updated demographics study today, and they found that 39% of Downtown Miami households include a pet. This is interesting because so many of the developments impose strict pet policies upon their residents. Some only allow certain sizes of pets, some only cats, some only allow pets for unit owners and some say no pets at all.

This is always a touchy subject when we are working with a client who has a pet. There is so much misinformation out there regarding which buildings do and do not welcome pets. If a resident gets caught with an unauthorized pet, they are forced with the difficult choice of paying a lease cancellation fee (which is typically the value of 2 months’ rent), or re-homing their beloved pet. Unfortunately, not all agents verify the pet policies before entering into a contract, which wastes time and gets the client all excited about an apartment that they cannot have. No bueno.

I even once had a client who cheated on me with another agent that had told them they could have a large pet in a pet-restricted building. That is completely irresponsible and self-serving of that agent. Thank goodness, the clients realized what would happen if they went forward with that deal. The agent would have been paid and then they would have either had to break their lease or part with their dog. That is a horrible choice to have to make when most people consider their pets as members of the family.

In order to have an authorized pet in the building, many associations require an additional registration and application. The pet’s weight is verified (many times with a report from the veterinarian), their vaccinations are verified and some buildings even take it a step further. Infinity at Brickell requires a DNA sample to be placed on file and in the event that messes are found in the lobby, the mess is sent in for a DNA match. The resident that pops up after the DNA test is issued a fine. I call it Maury Povich enforcement… but it works. If people know they’re going to get busted breaking the rules, they’ll be less likely to do so. This way, the building can continue to allow large pets for everyone.

Over recent years, a popular workaround to the ‘No Pets’ buildings has become all the rage. There are websites where you can claim that you need a therapy dog. They’ll issue you a certificate for a fee and, viola! Your dog can go with you everywhere and nobody can say anything… except the condo associations have started to get wise of this ruse. The Jade at Brickell verifies these Therapy Dog certificates through an attorney. It takes an extra few days during the application process and you don’t get your application fees back if you get caught with a phony form. I don’t recommend the fake therapy dog stunt.

If you are curious of whether a particular building accepts pets, just have a look at the building page on our website. We have verified all of the buildings’ policies and list them in the FAQ section of the website. Every now and again, a building will change their policy in between when we last called to verify, but we update it frequently. Our agents also keep themselves updated of the pet policies and fees for the buildings in the area. We’re all about efficiency and not wasting your time or energy…

So what about investors?

With the rental market changing, it is important to have apartments that appeal to as many people as possible. Purchasing an investment condo for sale in a pet-restricted building automatically crosses out almost 40% of the prospective tenants that could be interested in moving in. Some of my favorite pet-friendly buildings are MarinaBlue and 900 Biscayne Bay in Park West, Infinity at Brickell in Brickell, the Midtown developments in Midtown and One Miami in Downtown.

For investors who are concerned with having animals in your property without knowing the behavior or cleanliness of the pets, it is completely customary to charge a pet deposit for the unit. In many cases, the building has a separate pet deposit or fee, but I suggest a refundable deposit for the unit itself. The amount can vary depending upon the pet. Puppies would require a bit of a larger deposit since they tend to chew and have accidents. You could also lower the deposits in the event that a tenant was able to submit a diploma from obedience school or behavior training.

Whether you are an investor, or if you are buying/renting a home for yourself, if there is a specific building that you are curious about, don’t hesitate to drop us a line and inquire. We’re happy to help.

Terra’s David Martin Debuts his New Real Estate Column in Forbes

David Martin

A warrior and a poet? Meh. Maybe not, but David Martin, head of Terra Group and developer of Grove at Grand Bay, Park Grove, and GLASS, is now a developer and an author. He’s writing a twice-monthly column over at Forbes on ‘real estate development, design, and sustainability,’ beginning with a discussion on why more buyers in South Florida are end users these days as opposed to speculators. To summarize his point in just a few words: Miami’s a bit more grown up, and that makes a big difference.

Check Out the Plans for Starchitect Jean Nouvel’s Monad Terrace

Starchitect Jean Nouvel’s design for a boutique condominium tower at South Beach’s Monad Terrace won big applause at the last meeting of the Miami Beach Design Review Board, with the Miami Herald reporting, at the end of a lengthy and powerful review: “The Monad Terrace proposal was enthusiastically approved by Miami Beach’s Design Review Board last week. The DRB cited it as a model for future waterfront development. One board member expressed interest in living there when it was completed. Sales are due to begin this fall.”

The plans, elevations, sections, and most of the renderings below are from Monad Terrace developer JDS Development Group’s submittal to the City of Miami Beach. The design itself is a pair of buildings centered around a watery courtyard, with lagoon and pool, and sightlines straight from West Avenue to Biscayne Bay. More than almost anything else in Miami or Miami Beach, Nouvel’s design psychologically embraces South Florida’s submerged, aquatic future, taking it as a point of inspiration and adapting to it. One 14 story building, and one of only 7, hold 54 condo units in all. A transparent lobby looks out to the courtyard and eventually to the bay, enclosed in a cone of metallic, glassy shields that splay out as one progresses west, and creating was Nouvel calls a ‘reflection machine.’ Certainly, as the sun sets across Biscayne Bay, one can only imagine glowing red skies amplified to the street beyond.

Jean Nouvel’s Monad Terrace Will be a Beautiful ‘Reflection Machine’ of Miami’s Watery Future

Rendering of Monad Terrace by Pritzker Prize-winning architect Jean Nouvel.

There’s a certain incredible seductiveness to a sunken Miami, a combination Venice and Atlantis bobbing away in the ocean, out beyond the Florida coastline of the future. “The image is post-apocalyptical, foreshadowing an uncertain future yet, somehow, utopian and hopeful. It appears to be the end of the day, the end of a season, the end of an era, with the sun setting wildly over the skyline of downtown Miami.” says renowned architecture critic and Miamian Alastair Gordon of Jean Nouvel’s design for the luxurious boutique Monad Terrace condominium being developed by JDS Development in Miami Beach that both interprets and sharpens that vision.

It’s a future that almost unites with the past: “The architect appears to be seeking a kind of unity of purpose and compromise between future and past, an imaginary realm of wild sunsets, mating manatees and tangled mangrove roots before the coming of Flagler, Fisher or the Kardashians. A 70,720-square-foot slice of Eden, rebooted.”

The design was enthusiastically approved by Miami Beach’s Design Review Board last week. They say Miami is drowning and doomed, but after reading Gordon’s review in the Miami Herald you might not think so anymore. Perhaps Miami is just changing yet again, and maybe even for the better.

Checking in on Construction at the Ritz-Carlton Residences Miami Beach

Ritz-Carlton Residences Miami Beach construction. Photos via Ritz-Carlton.

The Ritz-Carlton Residences Miami Beach is probably one of the more complicated residential construction projects in Miami today. Sure, it’s not exactly Zaha’s exoskeletal tower, and definitely not an elaborate behemoth like Brickell City Centre, but the Ritz is the adaptive reuse of frankly what was an ugly old hospital building into very luxurious condos. Turning a heart hospital (it was the Miami Heart Institute) into a Ritz-Carlton is no simple task.

Updated construction photos released by the Ritz on April 21st show the project to be relatively far along. The structure was saved because any new construction on the site could not be nearly as large, due to zoning restrictions. Gutting and concrete pouring appear significantly complete, with lots of new glazing coming in, and work underway on the roof. About a month ago the building was over 65% sold according to the developer, although to make those sales targets they’ve certainly had lots of parties (Not that parties are such a bad thing. The stone crabs during South Beach Wine and Food Fest were superb) and recently listed a couple units in Canadian currency for one night, so there’s that.

A First Look at Residence 900 at GLASS in Miami Beach

In case you haven’t heard, GLASS is the newest addition to Miami Beach’s South of Fifth neighborhood. Closings began in October. The 18-story tower – designed by renowned architect Rene Gonzalez – has just ten total units (yes, just 10), each encompassing at least one full floor. Due to its all-glass structure, the building’s natural surroundings are brilliantly integrated into its design, mirroring the sky, sea, and city in all directions.

Last month, my broker, Dora Puig, listed for sale a full-floor residence on the 9th floor (residence 900). The 3 bedroom, 3.5 bath condo has 3,400 interior square feet plus another 2,000 square feet of terrace. Earlier this week, I finally got an opportunity to take a look at it and brought my trusty camera along.

I must say, the quality of the finishes at GLASS are second to none. I was blown away. I have never seen a developer deliver such high-end finishes. The kitchens are wrapped in Calcutta marble, the master bath in Arabescato marble, and the floors covered in walnut wood. Truly impressive finishes throughout!  And the sweeping city and water views are jaw-dropping! I also got a chance to photograph the beautiful pool deck which was designed by famed landscape architect Raymond Jungles. See for yourself…

GLASS condos in Miami Beach

Investment Opportunity: South Beach 1 Bedroom, Walking Distance to Lincoln Road with Low Monthly Fees

Just in time to wrap up 2015, we are excited to offer this 1 bedroom investment property in South Beach.

The Sherita Condo is a boutique development of only 28 apartments at 1840 James Avenue in South Beach. It was originally built in 1952 and is walking distance to both Lincoln Road and the Miami Beach sand.

Today we listed a 1 bedroom apartment in the complex that is rented until March 31, 2016 for $1,400 per month. The second floor apartment has been updated with laminate wood floors and is offered for $230,000. The HOA fees are $325 per month.

Reach out if you would like additional information on the lease, property or opportunity. We are happy to show the property so long as we can give the tenant 24 hours’ notice of the appointment. Here are some additional photos of the apartment:

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

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

Miami Condo Investments Free Mobile App Available for Download on iTunes and Google Play

For those new to the website, or those who might be unaware, Miami Condo Investments has its own mobile app.  It is free and available for download on iTunes, for the iPhone and iPad, and on Google Play, for all Android mobile devices.  I released the iPhone version back in December 2009 and followed it up with the Android version about two and a half years later in May 2012.  I may be a bit biased, but it truly is an amazing app.  In many ways, the real estate app was ahead of its time when I released it in 2009.  It still remains as powerful as ever though and I personally use on it on a daily basis.  In fact, I recently made the jump from using an iPhone to an Android phone and it was the first app I downloaded.

I would love to hear your thoughts and feedback on the app.  I am hoping to release an updated version sometime in 2014 and welcome any ideas for it that you might have.