Mario Chalmers has been traded to the Memphis Grizzlies along with forward James Ennis, according to league sources. The teams have scheduled a trade call with the NBA office to finalize the deal, which is reported to include Grizzlies’ guard Beno Udrih, forward Jarnell Stokes and a second round pick to the league.
According to Yahoo Sports, the trade deal will save Miami $6 million in luxury tax payments. What has not been disclosed is the future of Chalmers’ 5 bedroom condo in Marquis Residences. The 28 year old guard purchased the 5,475 square foot condo in 2012 from hip hop/rap artist Drake for $2.6M. The apartment originally was designed as 2 residences but were combined by Drake in 2011 and features 5 bedrooms, 5 baths, a game room, wet bar, state of the art kitchen and 2 laundry rooms. It is a 2 level residence on the 49th and 50th floors with views of the Biscayne Bay, Atlantic Ocean and Miami Beach skyline. The property includes 4 assigned parking spaces, but is located just 5 blocks from the American Airlines Arena. It was previously listed last August for $4M, but the listing was removed in February of this year.
There is no word yet on whether Mr. Chalmers will keep his Miami property, but we will be sure to find out as news develops.
The Underline Reveals Plans for New Brickell Park
The green area under the Metrorail line in Brickell has historically been the dividing line between East Brickell and West Brickell, but will soon be a thriving park area reminiscent of Manhattan’s High Line. The co-designers of the famed park have unveiled a master plan for the green area under the rail line stretching from the Miami River all the way to Dadeland.
While the 10 mile master plan in its entirety is ambitious, it is also supported by local businesses, governments and locals alike, all of who have been searching for more park space for some time in our community. The initial $5 million government grant is proposed to build out the Brickell section as a demonstration project so that the success story can be taken back to the state Legislature for additional support. Previous requests for additional funding have been approved by the state Legislature but vetoed by Gov. Rick Scott.
The Brickell section of The Underline will feature a riverfront seating area, picnic areas, outdoor gym, shaded play area and a MUCH needed dog park. An area of naturally formed oolite will be incorporated into a play area with a rock climbing wall. Once completed, each stop of the Metrorail will boast different community friendly features to improve the nearby communities.
On Monday November 9, the Friends Of The Underline support group will host another presentation of the plan in its’ entirety. This will be the last opportunity that the public has to comment on the master plan before it goes to the Miami Dade County Commission for approval. Here is the information of this presentation for those who would like to attend:
CNBC’s Diana Olick reported once again on the red hot Miami condo market. She points out that cash-ready foreign buyers are to thank for its swift and amazing turnaround. For those who missed the segment air on live television this afternoon, you can watch it in the video below.
High Stakes Poker Has Arrived in South Florida
Today we discussed two new Florida laws that went into effect July 1, 2010. The first being the change which gives condo associations the authority to collect rent directly from tenants if the owner is delinquent on their homeowners association dues. The second being that no-limit poker is now permissible throughout the state of Florida. This will not only attract the big money tournaments but also some of the world’s best poker players.
Miami Welcomes Times Square – City Approves Electronic Billboards With 5-0 Vote
Looks like Miami will continue to be the “Bright Lights, Big City” of the South. The Miami City Commission, earlier today, approved a change in a zoning ordinance which would allow developer Marc Siffin to erect a pair of electronic billboards atop an eight-story parking garage next to the Adrienne Arsht Center which is located in the Arts + Entertainment District of Miami. According to the Miami Herald’s report, Siffin will pay an annual permitting fee of $2.2M to the city and has agreed to contribute $8M toward the construction of Museum Park as part of a concession package.
Miami Real Estate Review – Episode One
Over the past couple of months, we’ve been working on a project that we hope will separate ourselves from other South Florida Realtors and allow us to disseminate market news and information to our audience in an efficient and innovative way. The video that you see below is the result of an idea that was born a few months ago. We decided to launch a real estate video show. This initial video provides an overview of what we have in mind for our video show and demonstrates how we’ll utilize the iPad in conjunction with it.
Miami-Dade County Pending Home Sales Soar
In today’s edition, The Miami Herald reported that April 2010 pending home sales in Miami-Dade County are up 71 percent year over year and up 6.6 percent since the prior month. The data was released Tuesday by the Realtor Association of Greater Miami and the Beaches.
New Park Along Brickell Avenue Coming Soon
A few weeks ago, The Miami Herald reported that the city of Miami, along with the Hollo family, acquired a one-acre parcel along Brickell Avenue which will be converted into a park by the end of this year. There has been a dire need for more green space in the Brickell area over the past couple of years as an influx of people have moved into the area. I had a chance to take an aerial shot of the site yesterday afternoon while showing property at Santa Maria.
Record Setting Day in Miami, Florida
Today was a record setting day in Miami, Florida according to NBC6. Earlier this afternoon, temperatures reached 89 degrees which set a new recorded high in Miami for the month of December. I swear, we’re just too spoiled here.
