Shoma Group Buys North Bay Village Land for $15.78 Million for a Proposed Mixed-Use Project- Shoma Bay
Shoma Group, led by CEO Masoud Shojaee has recently purchased a 1.79 acre lot in North Bay Village. The development group purchased the land through two separate deals for a total of $15.78 million.
The lot located at 1850 79th Street Causeway sold for $8.38 million while the lot with a current retail building at 1872 79th Street Causeway sold for $7.4 million. Both properties were purchased with a mortgage through North Bay Finance & Investments.
The plans for the ‘Shoma Bay’ development were presented and approved by the North Bay Village in March 2021. The mixed-use development will house a 19-story tower that will include 333 residential units, 36,068 square foot approved Publix grocery store, 6,315 square feet of retail, and a 666 garage spaces. Ten of the spaces will be dedicated to electric charging vehicles, and the garage will be located on top of the Publix.
The amenities will include a pool, bowling alley, complimentary snack station, wework café, clubroom, and more to be determined.
MSA Architects are the lead designers on this project. MSA have also designed the Waverly at Surfside, Porto Bellagio, and the Marriott Miami Beach.
MiamiRealEstate.TV is the Newest Addition to Miami Condo Investments
We would like to officially announce our newest project, the MiamiRealEstate.TV website. Since 2014, I had a vision of creating a space for all things real estate in Miami. In that same year, I purchased the domain at auction and have been researching ideas/creating a plan since the beginning. During that time, I knew that technology and real estate would collide and I’m so thrilled that this vision has become a reality!
The biggest difference between this project and what others have done is that these videos aren’t just about myself and my listings. I want to showcase the best Realtors in the area, luxury listings, real-estate developers, city-transforming developments, and other industry-leading game changers.
There are currently five videos available featuring Philip Freedman, the Executive Sales Director of The Ritz-Carlton Residences Miami Beach, and Adriana Brito giving a tour of the Upper Penthouse at Brickell Flatiron. Dora Puig was also interviewed giving a tour of her listing for $38 million penthouse at Icon South Beach (please see above video).
Our hope with the launch of MiamiRealEstate.TV is to bring expertise to Miami Real Estate viewers.
We are so excited for this new adventure and we look forward to growing with you! Be sure to follow @miamirealestate.tv on Instagram and visit MiamiRealEstate.Tv to stay updated with everything real estate in Miami.
In Only 2 Weeks, Over 80 Percent of the Units at E11EVEN Hotel & Residences Have Been Reserved
With E11EVEN Hotel & Residences, developers Property Markets Group and E11EVEN Partners were looking to make a splash…and a splash they made…a BIG splash! In only two weeks since their whisper (not-so-whisper) campaign began, they’ve been able to get reservations for over 80 percent of the building’s 400 total units. (I guess a good secret is hard to keep!)
And at an average price of $1,000 per square foot, getting over 80 percent reserved in a mere two weeks is no small feat! That puts it up there with the likes of Park West neighbor One Thousand Museum. But unlike One Thousand Museum, E11EVEN Hotel & Residences won’t have that front row vantage along Biscayne Boulevard, so what gives?
Well, for one, the units at E11EVEN Hotel & Residences are considered micro-units. Those always sell at a higher price per square foot than regular-sized condo residences.
Second, the units at E11EVEN Hotel & Residences come fully furnished and finished, including integrated audio, video, and lighting systems; an LED fireplace in every living room; fully built-out closets in the master bedroom; and a signature Home Essentials Package with silverware, glassware, linens, sheets, and towels.
Third, the residences at E11EVEN Hotel & Residences are considered condo-hotel units. These types of units provide owners with a lot of flexibility; owners will be able to use their units when they want or they’ll be able to place them in the building’s condo-hotel program to earn revenue when they’re not.
Fourth, E11EVEN Hotel & Residences is located in Miami’s 24-hour Entertainment District. For those who don’t know, Miami’s Entertainment District is made up of only two city blocks. In other words, E11EVEN Hotel & Residences will be the only hotel in Miami where the party never stops! If you’re looking for that Vegas-strip-style fun, E11EVEN Hotel & Residences will be the only game in town; it will be the place to be and be seen, complete with A-list celebrities at every turn.
Last but not least, the Miami real estate market is on fire. The developers of E11EVEN Hotel & Residences are proving that there’s no better time to launch a project in Miami than right now. After all, it seems every week that a new article gets published by a major news outlet describing just how hot the real estate market in Miami is these days (case in point example 1, example 2, example 3, example 4, and example 5).
The level of interest that E11EVEN Hotel & Residences has garnered has taken even the developers by surprise. As such, due to the faster than expected absorption rate, the developers have decided to move up the timeline of construction. The original plan was to go to contract in April or May and then begin construction towards the end of this year. The new plan, however, in an effort to convert reservations to contract and get this baby built, is to go to contract in just 2-3 weeks and then begin construction by early fall. As they say, get it while it’s hot!
Just Sold – Penthouse 12 at The Ritz-Carlton Residences Miami Beach – Sold for $15M
Lucas Lechuga of the Miami Condo Investments Team at Luxe Living Realty is proud to announce the sale of Penthouse 12 at The Ritz-Carlton Residences Miami Beach. At $15,000,000 and $2,369 per square foot, the sale is (1) a record-breaking sale for the building, (2) the highest-priced sale for a bayfront condo on Miami Beach since 2013, and (3) the highest-priced sale on a per square foot basis for a bayfront condo on Miami Beach since 2012. With an astounding 8,600 square feet of OUTDOOR space (including a 40-foot-long rooftop pool and whirlpool spa), 13.5-foot-high ceilings, and some of the best views in Miami Beach, Penthouse 12 is truly a one-of-a-kind property.
The Ritz-Carlton Residences Miami Beach Penthouse 12 Residence Features
Bedrooms: 4
Bathrooms: 5.5
Ceiling Height: 13.5 feet high
Living Area Sq Ft: 6,332
Terrace Sq Ft: 8,578
Rooftop pool deck with 40-foot-long pool and whirlpool spa
Hot tub
Private elevator foyer
Boffi-designed kitchen by Piero Lissoni
Gaggenau kitchen appliances
Zucchetti plumbing fixtures
Boffi-designed bathrooms by Piero Lissoni
Jetted soaking tub in the master bathroom
Private, air-conditioned parking garage
Boat slip
Penthouse 12 floor plan
The Ritz-Carlton Residences Miami Beach Amenities
Legendary 5-star Ritz-Carlton services
Half-acre rooftop pool deck
Private captained day yacht
House car
Beach concierge services for beach club access
Two 24-hour attended lobbies
24-hour valet parking service
Waterfront social room with bar, catering kitchen and
state-of-the-art entertainment system
Expansive infinity-edge pool with waterfall
Spacious private poolside cabanas
Poolside grille restaurant
Private BBQ/dining area
Meditation garden
Clubroom with bar, virtual golf, and pool table
Cinema-style screening room
On-site spa with Steam room, sauna, and treatment suite
Whirlpool Spa
State-of-the-art fitness center
Indoor & outdoor yoga studios
Boardroom/Library
Art studio
Kids room
Sharing room
Carwash facilities
Dog walk
Pet grooming room
Daughter of Auto Dealership Magnate Scores Killer Deal at One Thousand Museum
Fierce negotiating skills must run in the family. In recent months, Andi Potamkin, daughter of South Florida auto dealership magnate Alan Potamkin, scored an astonishing deal at One Thousand Museum. According to public records, this past June, she purchased from the developer a half-floor residence for $3,375,000, or $734 per square foot. To put that deal into perspective, the developer of One Thousand Museum had presold (before the building was completed) unit 2501, one floor immediately below Potamkin’s residence, for $6,265,000, or $1,362 per square foot.
Wowsers! It doesn’t get better than that. In fact, not only does Miss Potamkin’s purchase represent a 46 percent discount from the condo sold just one floor below, but it also marks the lowest that a condo at One Thousand Museum has sold to date on price AND price per square foot bases. On the other end of the spectrum, earlier this year, David and Victoria Beckham purchased a full-floor penthouse (exactly twice the size and over twice as high up as Miss Potamkin’s residence) for $19,800,000, or $2,152 per square foot.
In other One Thousand Museum news, celebrity restaurateur and nightclub owner David Grutman recently moved into the building, albeit temporarily. Grutman plans to live at One Thousand Museum until his new home on North Bay Road is completed. Grutman recently acquired the property located at 2050 North Bay Road from Spanish musician Alejandro Sanz but plans to demolish the house currently residing there. Grutman then plans to build a two-story house with 14,000 square feet and landscaping by award-winning landscape architect Raymond Jungles.
Introducing the Condo Market Stats Page
It is with great pleasure that I introduce our recently released Condo Market Stats page. With it, you’re able to quickly compare a variety of market statistics of major condo developments located throughout Miami-Dade County. There’s nothing like it on the market, and the best thing about it is that it’s completely free.
Have you ever wondered which condo development has the most pending sales? Or which has the highest percentage of units currently available for sale? Or which of them has the most sold units within the past six months? By using our Condo Market Stats page, these, along with a number of other questions, can easily be answered.
We also included the ability to compare the market statistics of neighborhoods to one another. For example, have you ever wondered which neighborhood is the priciest? Or which has sold at the highest price per square foot over the past six months? Or which neighborhood has the highest percentage of units available for sale? Our Condo Market Stats page can provide those answers with a few simple clicks of the mouse or taps of your fingertip.
In the months ahead, we plan to add a number of other statistics to the Condo Market Stats page. We want it to be a one-stop-shop for anyone looking to crunch numbers in order to make a well-informed purchase decision. Long-term, my vision for this page is to have a database of daily data points so that users will be able to compare today’s statistics with yesterday’s, last month’s, last year’s, etc. That’s where the real value of analyzing market statistics lies. How do Q2’s stats compare to Q1’s? Or how do Q2 2020’s stats compare to Q2 20219’s? By my estimation, we’re about 9 to 12 months away from being able to develop and deliver that kind of sophisticated functionality. In the meantime, enjoy the current version of the Condo Market Stats page. We’d love to receive any comments or feedback you have about the page.
Virtually Tour a 3-Bedroom Condo at Jade at Brickell Bay
If you’re like most, you’re stuck at home waiting for this lockdown to end. But just because you’re home doesn’t mean you can’t use the time to virtually explore property. If you’ve never had the opportunity to tour a three-bedroom condo at Jade at Brickell Bay, here’s your chance. It’s a generously-sized residence with 2,130 interior square feet.
Unit 4305 at Jade at Brickell Bay is a three-bedroom, three-bathroom flow-through residence with east and west exposures. From the living room, kitchen, and master bedroom, enjoy direct, unobstructed views of the Atlantic Ocean and Biscayne Bay from the 43rd floor. The second and third bedrooms are located on the west side of the residence with views of the city. The unit has two spacious balconies (one on either side of the residence) and includes three assigned parking spaces plus one complimentary valet parking space.
Below is a 3D, virtual reality tour of unit 4305 at Jade at Brickell Bay:
With an asking price of $1.75M, unit 4305 is currently the best-priced three-bedroom unit in the building. Earlier this year, units 3307 and 2705 (both three-bedroom residences of the exact same size) sold for $1.785M and $1.69M, respectively.
Below is the floor plan for unit 4305 at Jade at Brickell Bay:
Virtual Reality Tour of a Trophy Penthouse in Downtown Miami
In a time where most of us in this world are constrained to the confines of our homes, virtual reality offers an escape from the monotonous, melancholic doldrums. For the real estate industry at large, virtual reality provides an opportunity for prospective buyers to virtually experience faraway properties from the comfort of their living rooms. And make no mistake about it, with the use of a virtual reality headset, the experience can feel lifelike.
So that you can experience it for yourself, below, I’ve included a 3D virtual reality tour of my trophy penthouse listing at 900 Biscayne Bay. Again, to get the FULL experience, you will need a virtual reality headset but, even without one, you can still appreciate the awesomeness of this technology. Just be sure to watch it in full-screen mode.
The virtual reality tour below begins as you exit the elevator into the private elevator foyer. From there, the right-hand side of the residence includes the salon, kitchen, dining area, living room, master bedroom, and master bathroom while the left-hand side includes the media room, second and third bedrooms, second and third bathrooms, half bathroom, and laundry room.
To view additional virtual reality tours of Miami luxury real estate, visit our recently launched Virtual Reality Lounge.
Photo Tour of Ugo Colombo’s 64-story Brickell Flatiron Condo Tower
CMC Group, headed by luxury developer Ugo Colombo, has officially delivered its 64-story Brickell Flatiron condominium tower and, just like that, Miami’s most recent condo cycle has come to a close. The first closing at Brickell Flatiron took place on November 1, 2019, and since then, over 400 deeds have been recorded. According to a December press release, CMC Group paid off its $236 million construction loan for Brickell Flatiron within 30 days of receiving its temporary certificate of occupancy (TCO).
The 736-foot-tall skyscraper (currently Miami’s fourth-tallest building) was designed by internationally-acclaimed, Miami-based architect Luis Revuelta. With its flatiron shape and curved, flowing glass-balconies, Revuelta’s design has added yet another iconic skyscraper to Brickell’s ever-growing skyline. Located at 1000 Brickell Plaza, Brickell Flatiron will add 527 condo residences to Miami’s housing stock once all units have sold and closed.
Last week, I was given a private tour of Brickell Flatiron and can tell you firsthand that Colombo’s long-awaited tower was well worth the wait. The common areas at Brickell Flatiron were designed by Italian design architect Massimo Iosa Ghini with commissioned artwork by legendary artist Julian Schnabel. The 64th-floor amenities at Brickell Flatiron include a rooftop pool deck with pool, hot tub, and cabanas; a 6,300-square-foot state-of-the-art fitness center; and a full-service spa with His and Hers steam room, sauna, and locker facilities. On the 17th and 18th floors, additional amenities can be found, such as a children’s playroom, movie theater, lap pool, event space, cigar room, and billiards & wine room. Brickell Flatiron also offers 24-hour valet parking service; a 24-hour, full-service concierge; and charging stations for electric vehicles.
With Brickell Flatiron, Colombo, who is well-reputed for delivering uncompromised details and finishes, has cemented himself as Miami’s preeminent developer.
