It’s Not About the Money…It’s About the Sun, the Fun and the Rings!!!
They say Rome was not built in a day. I tell you tonight that the Three Wise Men of Miami have built Downtown Miami within a night. The Three Wise Men offer not gold, frankincense and myrrh but instead development, commerce and beer. The drinks will flow in Downtown Miami. The crowds will cheer, the people will spend and those who might be fortunate enough to witness NBA’s greatest team will be merry. This is an era of Miami basketball that will be long remembered, but never forgotten.
As I sit in Downtown Miami listening to the sounds of car horns filling the sky, I can only think of one thing. This is the single greatest moment for the City of Miami. Bigger than the movie Scarface, which put Miami on the map. Bigger than Miami Vice. Bigger than all of the rock stars, models and paparazzi who followed the celebrities in the 1980s to their paradise enclave. That was their Miami. Today, I present to you the new Miami. This is the beginning of something bigger and better than any developer or city official had ever envisioned for the city. This is Miami Bitch! And Miami’s Three Wise Men will proliferate an era within Downtown Miami within two years that could never be achieved within two decades.
Miami was the hotbed of the recent national real estate crisis. The epicenter of investor speculation. The Godfather of mortgage fraud. Prices tumbled here 50-70 percent from the peak. It was ripe for the picking. Miami was where real estate investment dreams were made. This was it. This was the moment where five years from now everyone who was fortunate enough to be connected to the City of Miami could say, “Damn…I coulda, shoulda, woulda”. Tonight was the moment where In one fell swoop, that was all washed away. Long forgotten.
LeBron and his crew, made up of Dwyane Wade and Chris Bosh, made the statement that it’s not about the money…it’s about the sun, the fun, the glitz, the glamour, the neon lights and the championships. The three perennial athletes proved tonight that it’s more about their legacy than it is about the benjamins. It has been written that Benjamin Franklin once started off his day by asking the question, “What good shall I do this day?” and ending it with “What good have I done this day?”. There’s no question that the newly crowned Kings of Miami have done very much good for the City of Miami and ohhhh so much good for Downtown Miami. It’s not about the money. It’s about the good of the city and, as I’ve said for weeks, LeBron James joining the Miami Heat, will do more good for the city than ten condo developers building ten glitzy high-rises could ever do for the city.
Rumor: LeBron James Makes Offer on $49.5M Gables Estates Home
Rumors swirled earlier this afternoon that LeBron James had made an offer on a $40M waterfront home in Coral Gables. My sources tell me that the offer was made on a 20,862 square foot mansion located at 11 Casuarina Concourse in the Gables Estates neighborhood of Coral Gables. The 8 bedroom/11 bath/2 half bath palace sits on a 3.6 acre lot with 880 feet of water frontage and comes with a dock to accommodate a 150-foot yacht. The Miami luxury home was previously listed for $49.5M before the listing expired on May 31, 2010. The Gables Estates waterfront home, which was purchased in July 1987 for 2,018,000, is currently owned by luxury auto dealer Alan Potamkin of Potamkin Auto Gallery.
Homes Fit for a King – Top 5 Coral Gables Homes That LeBron James May Have in Mind
If the rumors are true, and LeBron James did in fact make an offer on a luxury waterfront home in Coral Gables earlier today, then chances are that he made an offer on one of the following luxury homes located in Coral Gables:
620 Arvida Parkway – Asking Price $24.5M. 7 Bedroom/7 Bath/3 Half Bath with 16,435 square feet of interior sitting on a 46,609 square foot lot. This luxury mansion comes with 2 staff rooms, formal living room, formal dining room, 4-car garage, generator and swimming pool. While this may be the most expensive home currently available in Coral Gables, it is unlikely that LeBron James would make an offer on it simply because it will not be completed for another year and a half. That is unless, of course, he doesn’t mind being put up in LeBron’s Future Miami Penthouse across the street from the American Airlines Arena at Marina Blue for the next year and a half.
400 Arvida Parkway – Asking Price $20.5M. 8 Bedroom/9 Bath/4 Half Bath luxury home with 13,469 interior square feet sitting on a 41,382 lot. This waterfront mansion has 180 feet of water frontage and includes a dining room, wine cellar, media room, library/music room, garden room, 2 staff rooms, gym, Infinity-edge pool and spa and Chihuly chandelier.
181 Leucadendra Drive – Asking Price $17.9M. 7 Bedroom/7 Bath/1 Half Bath with 14,946 interior square feet sitting on a 48,274 square foot lot. This Mediterranean-style home was completed in 2004 and has 270 feet of water frontage.
5 Tahiti Beach Road – Asking Price $16.9M. 10 Bedroom/9 Bath/0 Half Bath waterfront mansion with 11,533 interior square feet sitting on a 37,374 square foot lot. This Tahiti Beach luxury home has a private beach overlooking Biscayne Bay. My vote is that LeBron James decided to go with this home in Coral Gables. Tahiti Beach is known for having spectacular security. It may not be the most expensive home of the five but security must be at the top of King James’ list when weighing out his options.
200 Edgewater Drive – Asking Price $13.9M. 7 Bedroom/5 Bath/1 Half Bath home with 11,865 interior square feet sitting on a massive 130,680 square foot lot. This historically designated estate has a tennis court, swimming pool, 4-car garage and staff quarters. The lot may be huge but the water frontage is very small.
Prices Slashed at Icon Brickell
Late last Friday afternoon prices were slashed at Icon Brickell. In the video below, we provide an overview of the Icon Brickell price reduction and end the show with the morning-breaking news that Dwyane Wade and Chris Bosh will sign with the Miami Heat tomorrow.
Imperial at Brickell Penthouse Reduced to $238 Per Square Foot
Earlier this week, the 5,034 square foot 5 bedroom penthouse at Imperial at Brickell that we featured this past May was reduced from $1,490,000 to $1,199,999, or $238 per square foot. The unit has an amazing 4,000 square foot terrace with direct views of Biscayne Bay and Key Biscayne. Take a look at the video below for a tour of the Imperial at Brickell penthouse. Call us at 305-428-3860 or email us at [email protected] to schedule a showing.
Introducing Two New Websites by Miami Condo Investments
Miami Condo Investments is happy to announce the launch of two new websites. The first of the two, is a building specific website called Marina Blue Miami Condos. The website has been in the works for the past two months and I’m more than pleased with the end result. The Marina Blue floor plans for each of the residences in the building are included so be sure to check those out. We have plans to launch four similar building specific websites within the next 3-4 months, the first of which will be Marquis.
LeBron James, and the possibility of him signing with the Miami Heat, has been a hot topic as of late in not only the local media but national media as well. If the Miami Heat organization is indeed able to sign King James, the positive economic impact to the city will be tremendous. Furthermore, the growth of Downtown Miami will dramatically be accelerated. In an effort to be first to market and capitalize on this very plausible scenario, we decided to launch LeBron’s Future Miami Penthouse in an effort to not only promote the Marina Blue Miami Condos website but also the 4,198 square foot penthouse currently available for sale at Marina Blue. We felt that the proximity of Marina Blue to the American Airlines Arena and the stunning view that can be enjoyed from the largest residence in the building made it a perfect fit for what we had in mind.
6 Bedroom Penthouse at Jade Beach Goes Under Contract – Asking Price $11M
Yesterday, the spectacular 6 bedroom/7.5 bath penthouse at Jade Beach went under contract providing additional evidence that the luxury market in South Florida is flourishing. The 3-story penthouse has 8,210 square feet of interior and 5,791 square feet of terrace. The asking price is $11M, or $1340 per square foot, and is being offered fully furnished. No word yet on who the buyer might be or how much was offered.
Recent Luxury Sales within the Past 30 Days
88 La Gorce sold for $16M on June 11, 2010
The Setai Penthouse B sold for $15m on June 4, 2010
Santa Maria Penthouse 4901 sold for $11M on May 21, 2010
One Bal Harbour Penthouse 2108 sold for $8.7M on May 25, 2010
Ocean Tower One #501 sold for $5.2M on June 3, 2010
Miami Real Estate Review – Episode 7
In this episode, we provide an update regarding the developer blowout sale at The Plaza on Brickell that started last Thursday. We also touch upon pricing at Icon Brickell and discuss news regarding Marquis. We end the show by highlighting four noteworthy foreclosures that came onto the market since last Friday.
Penthouse B at The Setai Sells for $15M
Last Friday, Penthouse B at The Setai sold for $15M, or $2416 per square foot. No word yet on who acquired the breathtaking, South Beach luxury penthouse. The previous owner purchased the unit directly from the developer in 2004 for $9.5M. From my knowledge, the recent sale is the highest priced condo sale to ever take place in Miami-Dade County.
Pictures and an e-brochure of Penthouse B at The Setai
For inquiring minds, Penthouse A at The Setai came onto the market this past April. The unit has the same square footage as Penthouse B. The asking price is $27M, or $4349 per square foot, which currently makes it the second highest priced condo listing in Miami-Dade County.
