Waldorf Astoria Hosts its Official Sales Gallery Grand Opening
The long awaited sales gallery launch for Waldorf Astoria Residences Miami has officially arrived and we couldn’t be more excited! Last night Waldorf Astoria hosted their official sales gallery grand opening located at 400 Biscayne Blvd across the street from Waldorf Astoria’s official pre-construction tower site.
PMG developers Ryan Shear and Kevin Maloney were in attendance as well as Miami Mayor Francis Suarez and Waldorf Astoria Hotel & Residences architects Carlos Ott and Charles Sieger (of Sieger-Suarez Architects). Mayor Suarez stated, “we are so proud of this iconic project that is going to help redefine who we are as a city.”
Waldorf Astoria Residences Miami will rise 100 stories at 1,049 feet tall making it the “highest skyscraper south of Manhattan.” It will also be the first Waldorf Astoria development in South Florida. Featuring 360 condos, 205 hotel rooms and suites, this incredible tower will truly be one of a kind. Tower amenities include a Peacock Alley lounge, signature restaurant, resort-style pool with cabanas, spa and fitness center.
Designed by Carlos Ott and architecture by Sieger Suarez, the design will feature 9 glass cubes offset from the next. This design will truly be the first of its kind in South Florida.
PMG developers, led by Ryan Shear, Kevin Maloney, and Dan Kaplan are the brains of the project and have stated that they have been working on the development project since 2014 and originally announced the launch in 2018.
Property Markets Group, Greybrook, and Hilton are also partnering on the project. The hotel portion of the Warldorf will be the first 3 cubes and Hilton will be managing that portion of the tower.
The residential units will begin at $656,000 and will increase depending on the location in the building as well as the size
STUDIOS
CUBE 4 – above level 40 From 516 sq ft. to 653 sq ft / Starting at $656,000
ONE BEDROOM
CUBE 5 – above level 50 From 873 sq ft. to 950 sq ft / Starting at $997,500
TWO BEDROOMS
CUBE 5 – above level 50 From 1491 sq ft. to 1951 sq ft / Starting at $1,701,000
THREE BEDROOMS
CUBE 5 – above level 50 2659 sq ft. / Starting at $4,111,000
FOUR BEDROOMS
CUBE 6 – above level 60 3,256 sq ft / Starting at $4,987,000
Sales for Waldorf Astoria launched in March 2021 with an estimated ground breaking in Q4 of 2021. The completion date is currently set for 2025. If you or someone you know have interest in purchasing one of the units at Waldorf Astoria Residences Miami, please contact Lucas Lechuga via email at lucas@miamicondoinvestments.com or by phone at (786)247-6332.
Filling Station Lofts Offers 2 Months Free On A 2 Year Lease
The Arts & Entertainment District’s Filling Station Lofts is pulling out the big guns in order to lure long-term tenants. As their Summer Special, they are offering two months’ of free rent to those who sign a two year lease in the building.
To be clear, this does not mean that new residents will simply pay their security deposit and receive keys with no additional money due for 60 days. When buildings offer free rent, the cost of the month’s rent is broken down by however many months are in the lease contract. That broken-down amount is offered as a discount on each monthly rental payment.
So, let’s say you sign a two year lease for $3,500/month. Your discount is $7,000, divided by 24 months. That works out to $292/month, so your monthly rental payment is $3,208.
The Filling Station is a very unique building, offering true industrial New York-style loft units. They can be used as live/work spaces or purely residential. The lofts have 18 foot ceilings and views of the Downtown Miami skyline, or views of Midtown/Wynwood. Pets welcome up to 60 pounds.
Available inventory and prices change frequently, so let us know if you are interested.
Live the Luxury Loft Life: Inside The Ritz Carlton Residences Miami Beach’s Loft Residences
One of the most ambitious redevelopment projects I have seen is preparing to open in a few months, The Ritz Carlton Residences Miami Beach. For those who aren’t familiar, the project is a redevelopment of the Miami Heart Institute, which was shuttered in 2004 after it was purchased by Mt. Sinai.
For years, nobody knew what would become of this eyesore on a great waterfront lot. Due to building regulations, the structure could not be torn down and rebuilt at the same size. In order to keep the height and size of the structure, all they could do is redevelop the existing structure. It took until 2012 when Lionheart Capital stepped in to propose a new Ritz Carlton designed by famed Italian architect, Piero Lissoni. Why not, right?
Well, here we are in 2017, the project is getting ready to open within the next few months, and 70% of the 126 residences have been spoken for. There are still 4 remaining loft residences with double height ceilings and increased feeling of privacy, let’s have a look at these plans…
This plan is a corner apartment that has southern exposure with a private plunge pool and summer kitchen. One of my favorite aspects of this plan is the bedroom and den upstairs, making it a great guest suite.
This is the last remaining loft with a direct view of Lake Surprise. It also has a private elevator and all of the bedrooms are upstairs, leaving the downstairs perfect for entertaining.
Another of the lofts with southern exposure, Loft 218 also has the plunge pool and summer kitchen on the terrace and guest quarters upstairs.
Loft 217
4 Bedroom | 4.5 Bath
4,033 square feet
$3,065,000
This is the last available four bedroom option, although the fourth bedroom could also be converted into a study. It also has a junior master suite upstairs and extra space on the terrace.
Showroom-quality Industrial Loft at Parc Lofts – Asking $539,900
It is with great pleasure that I introduce my newest listing – unit 503 at Parc Lofts – a fully furnished, showroom-quality 1 bedroom, 1.5 bath bi-level loft with soaring, 20-foot ceilings and 1,109 interior square feet. No expense spared. Over $150,000 spent in upgrades, furniture, lighting, and renovations. Incredible attention to detail. Master and half baths both completely renovated. Master bath features a steam shower with rainfall shower head and side body jets. The entire residence has been elegantly designed and furnished. A true work of art!
Additional features include: a Samsung 4-door refrigerator, Fisher & Paykel DishDrawer dishwasher, Bosch front-loading washer, Bosch front-loading dryer/steam dryer, tankless water heater, and more. A hydraulic lift to park a second vehicle also comes included.
Asking $539,900 – a fabulous opportunity for the uncompromising buyer in search of the finest of industrial lofts in Miami. Unit 603, the exact same floor plan but without ANY upgrades, sold unfurnished last year for $420,000.
Parc Lofts – just minutes from Downtown Miami, Edgewater, Wynwood, and Midtown Miami – is located at 1749 NE Miami Ct in the neighborhood known as the Arts + Entertainment District and catty-corner from the preconstruction condo development called Canvas, which has been selling at an average of $475 per square foot.
For questions and/or requests to view the property, please contact me via email at lucas@miamicondoinvestments.com or by phone at 786-247-6332.
The Emergence of the Arts + Entertainment District
As if out of thin air, a new neighborhood has emerged in Miami – the Arts + Entertainment District – an area located north of Park West, south of Wynwood, and west of Edgewater. When I first heard of the newly coined neighborhood, my first thought was, “That’s silly; you can’t just create a neighborhood out of thin air.” But that’s exactly what NR Investments did, and their PR firm is doing a helluva job in making the name stick. It’s a gutsy play, but one that could pay big dividends for NR Investments if things go according to plan.
See, NR Investments has a sizable stake in the area. Not only do they own Filling Stations Lofts – the 81-unit rental development located at 1657 North Miami Avenue – they also own a one-acre parcel located between Northeast 14th and 15th Streets, with plans to one day develop a mixed-use project on that site.
Most notably, NR Investments is the developer behind the 37-story, preconstruction condo development called Canvas, located at 1630 Northeast 1st Avenue. In October 2013, they acquired Canvas’ 1.1-acre site at a bankruptcy auction for $7.2M. Last October – just one year later – NR Investments dubbed the area the Arts + Entertainment District, and kicked-off its launch with a community event featuring free food, coffee, and WiFi. But they didn’t stop there. Since then, weekly events have been held at Filling Station Lofts or their Canvas sales location. These events have included such offerings as live music, yoga classes, food and drinks, a social media workshop, and, most recently, a risque circus show featuring aerial acrobatics – all free to community participants.
NR Investments has taken the “if you build it, they will come” approach, with “it” being community and “they” being residents, who, in turn, it is presumed, would attract the interest of buyers both near and far. The Arts + Entertainment District even has its own website, and the awareness that is brought to the area via its social media channels is on point (again, hat tip to the PR firm). Their commitment to the neighborhood shines through in the content that is produced and published. To see what I mean, follow them on Twitter and Instragram.
But NR Investments is no longer the only major player with a vested interest in seeing this emerging neighborhood succeed. This past January, Rebuild Miami-Edgewater, LLC purchased, for $64M, the 7.35-acre lot located directly north of Canvas and east of Parc Lofts at the corner of Northeast 2nd Avenue and Northeast 17th Street. The site, which is to include hotel, retail, and residential components, is zoned for up to 3 million square feet. Just last week, it was announced that a boutique, 200-room hotel called Vīb will setup shop there, with groundbreaking to occur this November.
In and of itself, news of the 7.35-acre lot finally being developed is huge. In 2005, when closings for units at Parc Lofts began, I remember there being talk of development plans that were all but inevitable for that site. It was to be a big-box retail center called Bayview Market. But, alas, it never happened. The plan got scrapped, and the land sat empty for all these years.
Marketing ploy or not, it appears that NR Investments’ plan is working. With prices averaging $475 per square foot, 40 percent of Canvas’ 513 total units have already been reserved – and that’s saying something. What NR Investments has done with the neighborhood in such a short amount of time is, quite simply, incredible. Creating community is no easy task. In fact, it’s a huge undertaking, one that requires commitment, consistency, and patience. Thus far, they’ve done a spectacular job in bringing residents together and providing an identity to an area of Miami that had been lacking. Undoubtedly, this is an exciting time for this emerging neighborhood. In the coming year, it will be interesting to see the type of capital this area is able to attract from other developers and/or investment groups.
Just Listed – Unit 2402 at Ten Museum Park – Asking $969,000
I am pleased to introduce my newest listing at Ten Museum Park – unit 2402 – a beautiful 2 bedroom, 2.5 bath, bi-level loft with over 1,800 interior square feet and a private balcony overlooking the newly opened Museum Park. The property features soaring 20-foot ceilings with floor-to-ceiling glass windows; stainless steel appliances by Sub-Zero, Miele, and Bosch; a Terrazzo-topped custom kitchen island; utility room with full-size washer and dryer; a full glass-enclosed shower with rainfall shower head; and direct, unobstructed views of the Atlantic Ocean, Biscayne Bay, and Miami Beach skyline.
As of this posting, unit 2402 is the best priced unit in the building among those that offer a direct water view. As you may recall, I recently listed and sold unit 1802 – a 2 bedroom located six floors directly below unit 2402. That one received multiple offers and went under contract within 7 days. With peak season right around the corner, I am confident that interest in this property will be equally as great.
Below, you will find additional photographs of unit 2402 at Ten Museum Park. If you or someone you know have an interest in viewing this property in person, please contact me via email at lucas@miamicondoinvestments.com or on my cell phone at 786-247-6332.
Just Sold – Ten Museum Park Units 1802 and 1708
Units 1802 and 1708 at Ten Museum Park are now officially closed. Unit 1802 (pictured above) – a 2 bedroom, bi-level loft with 1,802 interior square feet – sold in just 7 days for $900,000 while unit 1708 (pictured below) – an 808 square foot 1 bedroom condo – sold in just 16 days for $338,000. It came as no surprise since both units showed beautifully and were attractively priced. The $900,000 price paid for unit 1802 was the highest price ever paid for a 2 bedroom, non-corner unit at Ten Museum Park. I represented the seller in the sale of unit 1802 and represented both the seller and buyer in the sale of unit 1708. I now have unit 1708 listed for rent with an asking price of $2,450 per month. If you or someone you know may have an interest in renting it, please contact me for additional details and/or to request a showing. See bottom of this post for a video of unit 1708.
Video of Ten Museum Park #1708:
Just Listed – Unit 1708 at Ten Museum Park – Asking $355,000
Unit 1708, pictured above, is the second of two condos I recently listed at Ten Museum Park. It shows beautifully and has already grabbed the attention of several interested buyers. The 1 bedroom, 1.5 bath residence has 808 livable square feet, 143 square feet of balcony, a custom glass divider to separate the living room from the bedroom, wood flooring throughout, full-size washer and dryer, and stainless steel appliances by Sub-Zero, Miele, and Bosch. It also features 10-foot ceilings with floor-to-ceiling glass windows, a full glass-enclosed shower with rainfall shower head, built-out closets, and captivating views of Biscayne Bay. Priced at $355,000, unit 1708 is currently the second best priced property in the building.
If you or someone you know have an interest in viewing this unit in person, please contact me via email at lucas@miamicondoinvestments.com or on my cell phone at 786-247-6332.
Below, you will find additional photographs of unit 1708 at Ten Museum Park:
Ten Museum Park Unit 1802 Under Contract in 7 Days
Well, that didn’t take long. Unit 1802 at Ten Museum Park is now officially under contract. I received multiple offers within 3 days and got it under contract in just 7 days. It goes to show that in today’s market a property will sell quickly provided that it is priced correctly and well presented. This property showed beautifully, and I’m sure a month from now the buyers will be very happy in their new home.
