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…
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.
Don Peebles Discusses His Favorite Real Estate Markets in America
High-profile developer and real estate mogul Don Peebles was interviewed yesterday by Fox News to get his take on the various real estate markets throughout the United States. He quickly named New York City as his favorite with Miami being a close second. In regards to Miami, Peebles distinguished between the Miami Beach and Downtown Miami sub-markets. He finds both to be very attractive but compared Miami Beach to Manhattan with having a huge barriers of entry and very little available land while he feels that Downtown Miami is well on its way to becoming a premier global city.
His assessment of the sub-markets in Miami and Miami Beach is right on point. The recovery that both markets have seen over the past five years is simply astounding, and for good reason. Miami, for a number of reasons, is an alluring city which attracts buyers from all over the world. That has, and likely will continue to be, the driving force behind each sub-market’s rebound; a force which, in all likelihood, will push values well beyond those last seen at the peak of the market during the first quarter of 2007.
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.
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.
