Shane Battier Lists Coconut Grove Home for $1,895,000
Just weeks after winning his second NBA Championship, Miami Heat Forward Shane Battier has listed his Coconut Grove home for $1,895,000, according to hothothoops.com. Battier purchased the five bedroom, Mediterranean-style home for $1.6M a little over a year ago in June 2012. The 4,300 square residence is situated on an 8,000 square foot lot and features a 2-car garage, covered patio with adjacent pool, formal dining room, gourmet kitchen with walk-in pantry, downstairs office and master bedroom with his and her walk-in closets.
Battier’s contract with the Miami Heat is set to expire at the end of next season but rumor has it that he is upgrading to a luxury home in Miami.
Preconstruction Sales for 600 and 700 Biscayne Blvd to Launch Soon?
While driving through Downtown Miami earlier this week, I noticed a number of signs at each corner of the sites for 600 and 700 Biscayne Boulevard. The signs say “Another Luxury Development by Chateau Group”. A telephone number is also included. Despite a number of calls, however, I have yet to obtain any additional information. Just assurances that a sales person would contact me soon. The lots are located immediately south of Marina Blue and just north of the Freedom Tower. I have heard rumors for months that pricing will range from $600-$800 per square foot for non-penthouse units at each of the two developments but I’m sure at this point not even the developer knows for certain. It will be an interesting addition to the array of preconstruction condo developments that have been announced for Miami within the past year. With the exception of One Thousand Museum, no other luxury condo developments have been announced for Downtown Miami. The vast majority of them are located in Brickell or Edgewater.
Update: I just saw the exact same Chateau Group sign at the entrance of Gulfstream Park in Hallandale Beach. There’s a a large lot at the intersection of NE 10 Ave and Hallendale Beach Blvd. Is Chateau Group planning to build a luxury condominium development at that location as well?
Vue at Brickell Makes Amazing Turnaround from its Dire Days
A much needed facelift is well underway at Vue at Brickell. The building recently had a brand new fitness center installed and is only two weeks away from unveiling its brand new pool and pool deck. Also, permits were recently obtained in order to begin renovation on its lobby. Work is scheduled to begin later this month.
As some might recall, Vue at Brickell was initially developed as a rental community before being converted to condos soon after being completed in 2004. From 2007-2008, Vue at Brickell was an unfortunate victim of widespread mortgage fraud which ultimately led to an insurmountable number of foreclosures and short sales throughout the building. At the height of the crisis, over 200 units were delinquent on paying their monthly condo association dues out of 323 total units! This obviously led to budget shortfalls and spending cuts. The building was in disarray and prices followed. Prices tanked so much in 2008 that it was not unheard of for condos at Vue at Brickell to sell below $100,000.
That was then. The building has come a very long way from those dire days! Condo prices at Vue at Brickell have made an amazing turnaround. In fact, at this time, the lowest priced unit in the building is asking $265,000. A one bedroom recently sold for $245,000. Of most importance is its location. Vue at Brickell is located in one of the hottest areas in Brickell. At the base of its building, there are a number of popular restaurants that can be found such as Golden Fig, My Ceviche and Piola. It is also within walking distance to the shops and restaurants at Mary Brickell Village and two Publix grocery stores. Best of all, the area will only get better with time as SLS Brickell, and its highly publicized restaurants, will open directly across the street. Also, the $1.05B mixed-use development known as Brickell Citycentre, which is currently under construction, is just blocks away. The future is most certainly bright for Vue at Brickell owners.
Miami Preconstruction Condos
Miami condo boom 2.0 is well underway and, over the past year, a plethora of luxury condo developments have been announced for South Florida. I have decided to launch a page devoted to the latest and greatest preconstruction condo developments in Miami and other surrounding areas. I will keep it updated as new projects are announced. Definitely check back in two weeks to learn about a very exciting waterfront development in Edgewater that is expected to be announced on July 15th. You won’t want to miss it!
Pharrell Williams’ Miami Penthouse Marked Down $5.9M
It appears that the market for Miami penthouse condos is not all sunshine and rainbows. Despite a red hot Miami luxury real estate market which has seen an array of record-breaking penthouse sales during the first half of this year (See Exhibit A, Exhibit B, Exhibit C and Exhibit D), the Bristol Tower penthouse currently owned by hip-hop sensation, Pharrell Williams, has seen its price slashed $5.9M since hitting the market this past November. Initially set at $16.8M, the tri-level mansion-in-the-sky was recently marked down to $10.9M – a whopping 35 percent price reduction!
Formerly the residence of Bristol Tower developer, Ugo Colombo, the 5 bedroom, 6.5 bath penthouse features 9,080 interior square feet, private elevator entry, grand living spaces with impressive floor-to-ceiling glass walls, a 180-degree wrap-around balcony, 7 assigned parking spaces and rooftop terraces with summer kitchen, pool and Jacuzzi. The one-of-a-kind penthouse also sports a sensational view! It offers sweeping 360-degree views of Biscayne Bay, the Atlantic Ocean and sparkling city lights at night along with the opportunity to enjoy both the sunrise and sunset each day.
According to property records, Mr. Williams acquired the penthouse in March 2007 for $12,525,000.
Fundraising on Behalf of Camillus House in Conjunction with my Ironman Florida Race this November 2nd
I am sure that many of you have noticed by now that my blog has sat dormant for almost an entire month. It is for good reason though. That was around the time that I decided to get serious about training for Ironman Florida this November 2nd. The race will take place in Panama City Beach, Florida and, as with all Ironman triathlons, it will challenge me to swim 2.4 miles, bike 112 miles and run 26.2 miles in under 17 hours. In conjunction with the event, I am fundraising on behalf of Camillus House, a non-profit organization which services the homeless throughout Miami-Dade County. I have also committed to donating to Camillus House 10% of all real estate commissions I personally earn up until race day. This is a great opportunity for me to give back to the community and I am truly excited about the positive change that my fundraising efforts will bring to the homeless throughout Miami.
If you have a similar interest in helping the homeless in Miami, please visit my fundraising page and contribute what you can. Your generosity will be greatly appreciated!
Press Release – http://www.prweb.com/releases/2013/5/prweb10743774.htm
Miami Ranks Third on Knight Frank’s Q1 2013 Prime Global Cities Index
It is no secret that the Miami luxury real estate market has performed remarkably over the past twelve months. The latest report from Knight Frank confirms this. The Miami luxury real estate market ranked third behind Jakarta and Bangkok on Knight Frank’s Q1 2013 Prime Global Cities Index. Year-over-year, eight cities recorded double digit price growth for luxury homes but Jakarta, Bangkok and Miami led the way, recording annual price growth of 38.1%, 26.1% and 21.1% respectively. Surprisingly, prices for prime property in New York City declined 7.1% in the same time period, according to the same report.
Echo Brickell – Brickell’s Latest Pre-construction Condo Development
It appears that a luxury pre-construction condo development named Echo Brickell will begin accepting reservations next week. The Miami Herald reports that the skyscraper will rise 750 feet , or 60 stories, and feature large floor plans with up to 250 total units. The penthouses are expected to span over 7,000 square feet – unusually large by Brickell standards. Once completed, Echo Brickell will be the second tallest building in the neighborhood.
Unlike the handful of other pre-construction condo developments in Brickell that have been announced over the past couple of years, Echo Brickell will be located directly on the famed Brickell Avenue. The development will be erected at 1451 Brickell Avenue – a corner lot between The Four Seasons and St. Jude Melkite Catholic Church. Echo Brickell will be developed by Property Markets Group – the same development group which recently had a very successful launch of a 190-unit condo development in Aventura called Echo Aventura. World famous architect, Carlos Ott, has been chosen to design the luxury high-rise. Units at Echo Brickell will feature 10, 12 and 14-foot ceilings. The article states that plans for Echo Brickell include a swimming pool, which will encompass an entire floor about midway up the building, along with a fitness center and spa above it. The units will be sold move-in ready.
No mention of pricing was included in the article. However, in the coming days, I plan to get more information regarding Echo Brickell…so stay tuned!
Penthouse Floor Plans Released for SLS Brickell Residences
Preliminary floor plans for the penthouses at SLS Brickell Residences have been released. You will see below that there will be a total of seven floor plans on the penthouse level but only five of them will have unique layouts when compared to the other floor plans in the building. The five uniquely designed floor plans will essentially combine one and two bedroom floor plans from other levels to create larger spaces which will range from 1,845 to 2,332 interior square feet. Unfortunately, these units will not have a rooftop terrace or other distinguishing features which are typically associated with penthouses. There will, however, be a rooftop pool but that will be for all residents in the building to enjoy and not just those who own a penthouse. Regardless, if you are excited about SLS Brickell Residences but feel that the floor plans are too small, the penthouses might be a great opportunity to look into. However, being that there are only five combination units in the entire building, I do not expect availability for these to last long.
A $100,000 deposit is required to reserve a penthouse at SLS Brickell Residences. The balance of 20% will be required at contract, which should take place sometime between May and July. Contact me if you have an interest in reserving one (or heck, all five) penthouses at SLS Brickell Residences.
