One Thousand Museum’s Likely Impact on the Neighborhood
Last month, it was announced that world-renowned architect Zaha Hadid has been appointed to design a luxury skyscraper in a neighborhood of Downtown Miami know as Park West. The residential high-rise, known as One Thousand Museum, will be developed by Gregg Covin, the developer behind Ten Museum Park, and Louis Birdman. The planned project will be erected in what is the current location of a BP gas station which neighbors Ten Museum Park at the intersection of Biscayne Boulevard and Northeast 10 Street. Sales information is expected to be released during the first half of 2013.
There always seems to be a sense of excitement surrounding the announcement of a new development in Miami and the news of 1000 Biscayne Tower was no different. Not everyone, however, shares the same sentiment. Residents in the immediate area are not always thrilled about the inevitable noise, traffic congestion and their views potentially becoming obstructed due to the new construction. Taken yesterday evening, the picture above shows not only the site of the BP gas station but also its neighboring condo developments – 900 Biscayne Bay to the south and Ten Museum Park to the north. Due to their proximity, it should be clearly discernible that views in each high-rise from units closest to 1000 Biscayne Tower will be significantly affected. To be exact, there are three lines in each development which will have their views hindered: the 08, 10 and 12 lines at 900 Biscayne Bay and the 01, 07 and 08 lines at Ten Museum Park. The following site plans illustrate where these lines reside on each building.
Below is my assessment on how the view of each of these lines will be affected:
08 line – Earlier this morning, I showed an 08 line at 900 Biscayne Bay and made sure to make a mental note of what the view looked like from the living room. In this floor plan, the master bedroom is to the left of the living room and the second bedroom is to the right, with all three rooms facing in the same direction. Of the three lines at 900 Biscayne Bay that will be affected by the erection of 1100 Biscayne Tower, the 08 line will be affected the least. Notice the setback that Ten Museum Park has from the sidewalk. 1000 Biscayne Tower will have a similar setback and, therefore, the water view from the 08 line will, for the most part, not be obstructed. Having a massive building directly in your line of view is definitely less than optimal but at least these residents won’t have their water view compromised.
12 line – At first glance, it might appear that the 12 line will have their views most adversely affected due to it being the furthest line away from the street but that’s not the case. There’s no doubt that its water view will be most compromised of the three lines but one must remember that this uniquely situated floor plan also has views to the south and west. The west view at night is stunning and the development of 1000 Biscayne Tower will in no way take anything away from that. These residents will still be able to enjoy a view of the sunset from within their unit and should still be able to enjoy a view of the sunrise from their balcony.
10 line – In my opinion, residents who live in a 10 line at 900 Biscayne Bay have the most to lose in regards to their view being obstructed if a high-rise is indeed constructed on the current site of the BP gas station. The 10 line is boxed in on either side by the 08 and 12 lines and will look directly into the southern end of 1000 Biscayne Tower. Their water view will likely go from unimpressive to highly obstructed in a jiffy. Any semblance of a view that might remain will be further compromised by the almost certain development of the Miami Herald site in the future.
The impact such a development will have on the views of the units located on the southern end of Ten Museum Park is much easier to assess. The footprint of the building is perfectly symmetrical and, therefore, the units located on the northern end which look into Marquis Residences serve as a perfect example for what views will look like from the 01, 07 and 08 lines in the future if a development is constructed at the site in question.
01 line – This line offers a direct water view and the water view will in no way be affected by the development of 1000 Biscayne Tower. Privacy from the living room might be a concern but it’s nothing that solar shades or long curtains can’t fix. Besides, privacy at this end of the building hasn’t been expected since 900 Biscayne Bay began closings in 2008. Take a tour of an 04 line to get a sense for what it will feel like to have a building so close.
07 line – Like the 12 line at 900 Biscayne Bay, this line offers a view to the south and west. Its southern view will be compromised but its view to the west will be unaffected. Your view of the water will be slight at best. Take a tour of an 06 line to see what I mean.
08 line – The view from the 08 line will be obstructed the most by the development of 1000 Biscayne Tower. Residents will look right smack into the northern end of the planned high-rise. The 05 line will give you an uncanny feel for what life will be like having a view of the side of a building.
Within the past five years, Park West, the neighborhood name given to the area immediately west of the upcoming Museum Park, has undergone a transformation that has been nothing short of amazing. One could argue that the addition of 1000 Biscayne Tower, as well as the oft-mentioned 700 Biscayne Bay which will be located just south of Marina Blue, is just another step in the progression of Downtown Miami. Such additions should no doubt strengthen Park West’s positioning as one of Miami’s most luxurious neighborhoods. I wrote about this inevitable progression in a blog post back in July 2007. In it, I referred to the neighborhood’s development as Miami’s equivalent to Manhattan’s Park Avenue. There’s no question that Park West has not yet arrived at its potential but there is little doubt that it is well on its way. While short term demand for condos in the lines mentioned above will likely wane due to having to deal with construction noise outside your window as well as the loss of views and privacy, it is difficult to jump ship from a neighborhood that is heading in the right direction with lots of upside potential. Across the street, the $220M Miami Art Museum at Museum Park is scheduled to open later this year with the Miami Science Museum following about a year later. Additionally, there has been a lot of talk as of late regarding Miami Worldcenter indicating that the mega-development may not be a pipe dream after all. If Miami Worldcenter is formerly announced and becomes an actuality then, mark my words, Park West will become the most highly sought after neighborhood in Miami. You can take that to the bank!
HGTV’s 2012 Urban Oasis at Paramount Bay Hits the Market for $1.25M
This past October, HGTV awarded James Walley, a lucky viewer from Texas, a posh, two-bedroom condo at the prestigious Paramount Bay. Not even two months later, that very unit has hit the market with an asking price of $1.25M. This should come as to no surprise as the winner, come April, will owe a pretty hefty tax bill to the government. The fully furnished and impeccably decorated 2 bedroom/2.5 bath condo is being sold turn-key. The unit has 1,751 interior square feet, a private elevator and resides on the southeast corner of the building offering spectacular views of Biscayne Bay, the Atlantic Ocean and the Miami Beach skyline.
For a full rundown on what this stunning condo has to offer, watch the 90-second guided tour below provided by interior designer Brian Patrick Flynn.
Miami Condo Prices Up 16th Consecutive Month
Miami condo prices continue to improve. The median sales price for condos throughout Miami-Dade County has increased for 16 consecutive months, according to a market report released last week by the Miami Association of Realtors. In October, the median sales price of condominiums in Miami-Dade County rose 24.2 percent to $146,000 compared to a year earlier. Inventory of overall residential listings continues to shrink as well. There are currently 4.2 months worth of supply throughout the county. Over the past year, inventory has gone down 22.2 percent from 15,127 to 11,769 listings.
Ten Museum Park Developer Settles Class-action Lawsuit with Condo Association for $587,500
According to Daily Business Review, Ten Museum Park developer Gregg Covin has agreed to settle a class-action lawsuit, filed in 2010, with the building’s condo association. Disgruntled owners argued that certain amenities were not delivered as promised in the 2005 marketing brochures. The developer has agreed to pay the condo association $587,500 which will be used to update the common areas.
Brickell Condos and Neighborhood Guide
We have officially launched our revised and updated Brickell condos page. It went live earlier this week but a few minor kinks had to be worked out before I wanted to make the announcement. Around 90% of our business comes from non-locals so, first and foremost, I wanted to create a page which catered to those who are unfamiliar with the area. Our new neighborhood page is loaded with fresh content. I included a brief description, geographic and demographic information, as well as a short history lesson about Brickell. It also has a video/picture slideshow which contains over 150 pictures of the neighborhood. A Yelp widget was included as well to give people a sense for the quality of restaurants and other types of businesses throughout Brickell.
Towards the middle of the page, we have highlighted the five most recent resident reviews for condo buildings in Brickell. We hope that people who currently reside or have resided in one or more of the buildings in the neighborhood will share their experience and assessment with those looking for an unbiased opinion when shopping for a new condo in Brickell.
For those who are used to the old version of the page and wish to skip to the Brickell condos section, click on the “jump to Brickell condos” link found at the top of the page. We have, however, modified the way this section is organized. Now, not only can you get a quick glance at the inventory counts for each building but you can also see how many short sales and REOs are currently available for sale on the MLS. As you will see, a majority of the condo buildings in Brickell do not have any short sales or REOs on the market for sale. In fact, excluding the three pre-construction condo developments, two-thirds of them (20/30) do not have any distressed sales at all. That is pretty remarkable given how bad things were just a few years ago.
Perhaps the greatest new addition to the Brickell condos page is the statistics box in the upper right-hand corner just above the video. Towards the middle of each month, we will begin posting various neighborhood statistics calculated using sales figures as of the last day from the previous month. The reason why we wait a few weeks is because real estate agents tend to forget to change the status of a property from pending to sold in the MLS after it closes. Only sales figures for condo developments in Brickell that are found on the page will be incorporated. Think of it as a mini Brickell Condo Index. Expect the first update to be released around the middle of September.
Considering my day-to-day responsibilities as a real estate agent and the amount of time I already put into the website, my hope is to roll out a new neighborhood page every 2-3 months. I would appreciate any feedback that you might have so that these neighborhood pages will continue to evolve and get better with time.
IconBay to Include Garage-top Tennis Courts and Watersports Marina
Rooftop tennis courts? Why didn’t anyone say anything? I’m not an avid tennis player but I wouldn’t mind partaking in a few games of tennis if they were to be held on a rooftop offering a majestic water view. Heck, I’m not even a tennis player period but I might just volunteer to be the line judge. Where do I sign up? One of IconBay’s latest renderings reveals two tennis courts atop its parking garage. It appears, however, that only one of the two courts will offer an unobstructed view of Biscayne Bay. I wonder what the wait time for that court will be. The tennis courts at IconBay will be located on the 7th floor and offer ball and towel service, filtered water stations and access to his-and-hers locker rooms. The courts will even be lighted to allow for nighttime play.
It seems that recreational activities and encouraging its residents to live a healthy lifestyle will be a central theme for Icon Bay. Icon Bay’s latest marketing piece states that it will include a watersports marina for windsurfing, paddleboarding, sailing, jet skiing and other motorized and non-motorized aquatic activities. How awesome is that?
The waterfront sculpture park will also be a distinguishing feature for Icon Bay. Featured artists will include: José Bedia Valdes, Carolina Sardi, Edouard Duval Carrié , Gary Nader and Daniel Maman. In the rendering above, notice the dog park, sculpture garden, exercise stations, play fountain and interactive sculpture along with the winding walkways and baywalk. Sounds like it will be one helluva park!
The Infinity-edge pool at Icon Bay will be accented by a snack and cocktail bar and private cabanas. Towel service will also be offered.
The fitness center and spa at IconBay will include top-of-the-line cardio and weight training equipment, sauna and steam rooms, personal trainers, yoga and Pilates classes and more.
Notice the triangular-shaped balconies on the backside of the building in the above rendering of IconBay. You also get a good shot of the two tennis courts. I must say that these latest renderings have me excited about the prospects for IconBay. It will definitely be a game-changer for the neighborhood. Hopefully the watersports marina will be open to non-residents as well.
I updated our Icon Bay building profile page to include all of the latest information that has been released including amenities and residence features.
900 Biscayne Bay’s Attention to Detail
There are several reasons for why 900 Biscayne Bay gets a 9.5 out of 10 quality score on our Condo Rankings page. The building management’s attention to detail is definitely one of them. In the photo above, take note of the pattern across the back of the sofa. Each morning, the cleaning person vacuums this pattern into the back and sides of each of the sofas that reside in the club room at 900 Biscayne Bay. Attention to small details like these that don’t go unnoticed by the most discriminating of buyers.
New Rendering of Icon Bay
A new rendering of Icon Bay has been released. It provides a great shot of the proposed fountain that will reside in Biscayne Bay. The rendering also shows the Infinity edge pool which gives the illusion that the pool water flows into the bay as well as several cabanas that line the northern and southern part of the sundeck.
Reservations are now being accepted for condos at Icon Bay. Please visit our Icon Bay condos page for more information and additional renderings.
Custom Built, Fully Furnished Condo at Marina Blue Sets the Bar for the Building
I have seen a lot of condos at Marina Blue over the 4+ years since the building debuted in February 2008. The vast majority of units have your average run-of-the-mill build-out with tiled floors, California-style closets, solar shades in the living room, black-out shades in the bedrooms and light fixtures that were likely picked up at Home Depot as an afterthought – nice but far short of spectacular. A few weeks ago, however, I showed a condo at Marina Blue that really blew me away and deserves to be in a league of its own.
Unit 5304 is a 2 bedroom+den/2.5 bath condo with 1,663 square feet of living space. The floor plan, known as a Sky Loft, is quite rare in the building and only 11 other units of this size exists at Marina Blue. The condo has 10-foot high ceilings with floor-to-ceiling glass windows, offering breathtaking views of Biscayne Bay, Downtown Miami and the Miami Beach skyline from its vantage point on the 53rd floor. While the view is remarkable, it is the unit itself that really makes it special. The condo was 100% custom built and includes a lot of bells and whistles. The furniture and artwork that you see pictured below is also included in the sales price.
The kitchen includes a large custom island, Gaggenau stainless steel appliances and custom Italian cabinetry by Snaidero. The owner also had a DJ room/office built into the floor plan and is including the turntables and Evolution Entertainment music system with the sale of the condo. Each of the rooms is also wired with an Internet-based security camera system.
In all honesty, given the level of quality of both the furniture and the unit itself, this condo is a steal at its current asking price of $795K. The build-out itself cost at least $150K and I’m sure the replacement cost of the furniture and artwork is north of $100K. (Update: I called to check my estimates and was told that the owner paid roughly $350K total for the build-out, furniture and artwork.) Everything is pretty much brand new given that the owner has used the condo only a few times since it was built-out and furnished. Whoever ends up buying the condo is going to end up with the nicest unit that I have ever seen at Marina Blue.
