Starchitect Renzo Piano To Introduce Eighty Seven Park In Miami Beach
Miami Beach is getting another starchitect-designed condo building, this time by Pritzker Prize winning Renzo Piano. Eighty Seven Park will be the first project in South Florida to be designed by the famed architect and is located at 87th and Collins on the last piece of land north of North Shore Park at the limit of the city of Miami Beach. The 18-story glass tower will feature oblong floors and wraparound balconies with ocean views. In total, the building will offer 68 residences varying in size from 1,400 to 7,000 square feet.
“The idea behind the site is to enhance the presence of the green spaces in the park by extending trees to the northern limit of the city of Miami Beach,” said a statement from Renzo Piano Building Workshop. The building will be surrounded by a reflection pool and private gardens. Between the residences and the beach will be two swimming pools surrounded by sundecks and a walking path to the shoreline.
Interiors are being designed by Rena Dumas Architecture Interieure from Paris and will feature American oak and Italian stone fittings with orchids, Bonsai trees and cacti. An in-house botanist will maintain the year-round floral display, extending the serene natural feeling from the gardens indoors.
Renzo Piano will join Rem Koolhaas, Zaha Hadid, and Bjarke Ingels with their starchitect-designed projects over the upcoming years. In addition to being the first project for Mr. Piano in South Florida, Eighty Seven Park will also be his first residential building in the United States. Previously, the firm has completed the 95 story Shard, the tallest building in the European Union that is often referred to as London Bridge Tower as well as the 52 story New York Times Building in Midtown Manhattan.
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
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.
New Record: Buyer Pays $34M for Side-By-Side Penthouses in Miami Beach
Looks like this will be an amazing year for the Miami luxury real estate market. Yesterday afternoon, Forbes reported that an undisclosed American buyer purchased side-by-side penthouses at The Residences at the Miami Beach Edition for $34M, breaking the previous sales record for condominiums in Miami-Dade County set just two months ago. The Edition, a luxury beachfront hotel-condo variation, is currently under construction and is scheduled for completion in April 2014. Hotelier, Ian Schrager, and world-renowned architect, John Pawson, have teamed up on The Editions project to deliver 26 of the most amazing condos in Miami Beach. The Editions sales office opened less than four weeks ago and half of the development, yet to be completed, has already sold.
Rony Seikaly’s Stunning South Beach Condo at Murano Grande
Over the past week, I have had the opportunity to tour a number of stunning condominiums throughout South Florida. Tuesday afternoon, was business as usual. That day I was fortunate enough to tour the 4,000 square foot residence of former NBA star turned international DJ Rony Seikaly. The luxury, 3 bedroom plus den/4.5 bath residence located at Murano Grande in South Beach did not disappoint. The entire condo has a zen-like feel to it with an array of natural elements incorporated into its design. The floor plan features a number of favorable changes and upgrades as well. Most importantly, the kitchen has been rearranged to allow for a much more expansive view from within the kitchen than what was called for in its original floor plan. The wooden, sliding track doors, however, still allow one the option to enclose the kitchen from either or both sides. The condo comes fully furnished with designer furnishings by Ralph Lauren, Holly Hunt, Minotti, Tucker Robbins and others in rich Earth hues. The design of the entire condo is the work of prolific, New York City interior designer Clodagh. The unit comes equipped with a Crestron System which, with the help of an iPad, one can control lighting, surround sound, electric window treatments, air conditioning and more. The asking price is $5,995,000.
Miami Featured on “Today” Show This Morning
This morning, Miami was once again in the national spotlight. The young, vibrant and beautiful city was featured on the “Today” show for its Friday Field Trips series. The three minute video clip above will give you a gist of the praise that Miami received during the morning show’s coverage of the city. Miami is no longer seen as just a winter playground. It has seen tremendous growth over the past four decades and has exploded onto the international scene. Miami has become a cultural mecca for travelers from all around the world and now competes with some of the highly acclaimed international cities for their attention. I must say, Miami was captured quite beautifully in this piece. Great job!
Record-breaking Sale – Setai South Beach PH-B Sells for $27M
PH-B encompasses the entire 40th floor at Setai South Beach and has 7,100 interior square feet with 4 bedrooms, 4 full baths, 2 half baths and a gourmet kitchen along with a jaw-dropping rooftop terrace featuring a private pool and hot tub. The trophy penthouse is truly spectacular. Don’t take my word for it though – download the Setai South Beach PH-B e-brochure and take a look for yourself.
Even more astonishing than the sale itself is the amount of profit that was pocketed by the seller. In June 2010, PH-B at Setai South Beach was purchased for $15M. This goes to show the level of unbelievable deals that were to be had from 2008 to 2010 in South Florida. It was a buyer’s market then. Now, the sellers are calling the shots.
Only time will tell how long this new record will last. It is highly likely that the sales record will be shattered later this year with the sale of PH2 at Continuum South Beach. The 11,000 square foot penthouse is currently listed for $39M, or $3,535 per square foot. That is very well priced considering the recent sales for penthouses in the immediate area. PH1, also at Continuum South Beach, sold last May for $3,378 per square foot. Further evidence is provided by the recent sale of PH-B at Setai South Beach for $3,800 per square foot as previously mentioned. PH2 is one of the most coveted penthouses in South Florida. It had been previously listed for $35M but I am highly confident that it will not sell for anything less than $38M.
Luxury Real Estate Market Ended 2012 With Two Huge Condo Sales in South Beach
The Miami Beach luxury real estate market closed out 2012 with a bang. Two huge condo sales took place over the last four days of the year.
A bi-level penthouse at Icon South Beach sold on New Year’s Eve for slightly under $21M, or $2,623 per square foot. The 4 bedroom/6.5 bath condo sold above asking price as it had been listed for $19M. The lavish residence has roughly 8,000 interior square feet and has its own rooftop deck and pool. The penthouse was previously purchased in 2007 for $7M.
On December 28th, a second two-story penthouse sold but this time over at Continuum South Beach North Tower. The 5 bedroom/5.5 bath condo sold for $11M, or $1,580 per square foot. The 6,963 square foot residence has a southeastern exposure with views of the Atlantic ocean and Government Cut. The unit was sold “decorator-ready” straight from the developer.
$47M Sale of 3 Indian Creek Drive Shatters Previous Record Set in March
Records were made to be broken. Sometimes, however, records are shattered. The recent sale of 3 Indian Creek Island for $47M shatters the previous record-breaking sale for single-family homes in Miami-Dade County set earlier this year by 22%. Edward Lampert, Sears Holdings Corp.’s chairman and hedge fund billionaire, purchased a waterfront estate, also located on Indian Creek Island, in March for $38.4M.
3 Indian Creek Drive is paradise-living at its finest. The 30,000 square foot, waterfront home is situated on an 80,000 square foot lot and has 10 bedrooms, 10 full baths, 4 half baths, a 100-foot resort-style pool, a full catering kitchen, certified greenhouse, rooftop lawn and Jacuzzi, panic room, wine cellar, servant room, chromotherapy spa and massage room, library, elevator and a 7-limo-sized car garage.
No word yet on who the buyer of 3 Indian Creek Drive might be. There are currently two single-family homes available for sale which could potentially eclipse the record-breaking sale of 3 Indian Creek: 12 Indian Creek Drive, listed for $45M, and the former Versace mansion, located at 1116 Ocean Drive, which has an astonishing asking price of $125M.