JSX Announces ‘Hop-On Jet Service’ Flights from Miami to Texas and New York
Miami welcomes JSX, a “hop on jet service” with crowd-free flights on private planes. With JSX’s announcement comes all the special privileges of a private jet without the hefty price tag.
Their East Coast routes will link Miami International Airport to New York and Texas with flights beginning November 18th. Fares from Miami to Westchester County, New York start at $749 one way, and Miami to Dallas start at $499 one way.
The best part of JSX flights is that they offer guests the ability to check-in for flights 20 minutes prior to departure between private terminals at Miami International Airport. Not only do they have a quick check-in, but there are also no crowds and 30-seat jets with business class legroom. JSX also offers two free checked bags, free snacks, and drinks.
According to the CEO of JSX, Alex Wilcox, “Since day one, our Customers have asked JSX to serve the East Coast and I am thrilled to say that our distinctive style of flying has finally arrived. It’s no secret that demand from New York and Dallas to Florida is at an all-time high, and we are delighted to bring our hop-on jet service to these vibrant markets ahead of the busy holiday season.”
JSX created this flight experience for anyone who values their time and wants a world-class experience, from business travelers, first-class fliers, to families looking for quick flights.
JSX is the first and only carrier that links Westchester County to Miami International Airport and the first “uber-like” plane carrier linking Dallas to Miami. Welcome to flying redesigned!
Photo Credit: JSX Website
Champlain Towers South Site Under Contract for $120 Million
After the devastating Champlain Towers South Condocollapse that occurred on June 24th and all search efforts ceased, demolition and clearing of the site began. As of August 30th, the site located at 8777 Collins Avenue, Surfside was cleared and listed for sale at $95.6 million.
Right after the property was listed, billionaire real estate developer Hussain Sajwani offered $120 million with the stipulation that he would obtain possession by the spring of 2022 to begin construction on a luxury high-rise.
The sale for the 2-acre waterfront property has been officially and is now under contract. Now that the property is under contract, Sajwani has to pay a $16 million deposit. Judge Michael Hanzman approved the agreement with timeline outlines for inspections and deadlines for other bidders. This would include the $16 million deposit as non-refundable following a 60-day inspection period.
With the sale of this site, there has been a lot of pushback among the survivors and the victim’s families. As part of a class-action lawsuit, the judge that is selling the property has tried to expedite the sale in order to get the families compensated.
Proceeds from the sale are still unknown. The attorney for this transaction stated that the appraised value of the property is $95.6 million. The total for the insurance coverage held by the condo association is $48 million. There is also $30 million in property damage and $18 million for personal injury. The decision is whether to award the families all of the $120 million and the $30 million property insurance payout or award the appraised value of $95.6 million.
Some families have also petitioned for a memorial to be built on the property rather than another tower. Families have sent letters to state and federal lawmakers asking to assist in purchasing the land for a memorial. The families have asked the Surfside Commission to add a referendum on the upcoming ballot for voters to approve a land-swap proposal to build the memorial and a community center. Press conferences have also played a role but with no such luck.
Sajwani has an extensive portfolio with establishments of his company DAMAC Properties in global cities like Dubai, Abu Dhabi, Amman, Baghdad, and London. Sajwani has heavily invested in luxury fashion, real estate, hospitality, and manufacturing.
Total Number of Transactions Increased for this Week’s Miami Dade Condo Sales
Over the past few weeks, we have seen a steady incline in overall condo sales including volume and number of sales. This is of no surprise with the increase of companies, execs, and people taking up residency in Miami-Dade County.
Coming in at $123 million, this week’s condo sales volume increased from $85.3 million in the week prior. The total number of sales has risen to 198 for this week, up from 128.
The average price for condo sales reached $622,000 which has actually decreased from $666,000 then the week prior.
Leading this week’s condo sales in a luxury unit at Continuum South Beach that sold for $8 million or $2,708 per square foot. This luxury property located at 100 S Pointe Dr. Unit #3507 was sold to tech entrepreneur Hari Ravichandran, who is the CEO of Jump Ventures and Aura.
Last week’s highest condo sale was lead by Lucas Lechuga (Luxe Living Realty-Miami Condo Investments) with the sale of a Setai Miami Beach condo that sold for $12.3 million.
The sale coming in second includes a luxury unit at Palazzo Della Luna on Fisher Island. The property sold for $7.5 million or $2,045 per square foot and was on the market for 324 days. Luxe Living Realty’s Dora Puig represented the seller.
Former Linebacker for the Miami Dolphins Sells Miami Beach Home for $6.25 Million
Photo Credit: Julian Cohen
Orlandus Andre Branch III is a former outside linebacker for the Miami Dolphins, who played from 2016 until his retirement in 2019. Branch recently sold his mansion for $6.25 million after purchases in 2019 for $2.8 million. What an investment!
Located just a couple blocks from Biscayne Bay in the Nautilus neighborhood at 4535 Nautilus Court in Miami Beach. The modern mansion features 6,000 square feet of professionally designed living space.
The 6 bedroom, 6.5 bathroom new construction home features European oak and marble floors throughout and high-end kitchen appliances. The home is completely finished with a steam room, media area, and tall ceilings throughout.
Photo Credit: Julian Cohen
The exterior is perfect for entertaining with an expansive backyard with lush Florida landscaping featuring an outdoor kitchen, oversized terraces, pool, and jacuzzi. The mansion is perfectly located near South Beach, Bal Harbour, and the Design District.
According to Miami-Dade tax records, the home closed on September 3rd, to buyers Bryant M. Yunker Jr. and wife Nancy. Bryant is a retired Wall Street Broker. The Yunker’s also own Sway Lounge, located in Naples, Florida.
This property is the highest-priced sale for a non-waterfront home in the Nautilus neighborhood. This record-breaking sale is just one of the many that have occurred in Miami in 2021.
In July, a waterfront mansion sold as the highest-priced home sale ever in all of Miami-Dade. Bay Harbor Islands also had a record-breaking sale of $12.75 million on a recent waterfront home, making it the highest-priced sale in all of Bay Harbor. Our very own, Lucas Lechuga, also sold one of the highest-priced condo sales for the month of August 2021 at Setai South Beach for $12.3 million.
$12.3 Million Setai Sale Leads Miami Condo Weekly Sales
Sales for Miami-Dade once again surged this past week with the most expensive condo sale closing at Setai Miami Beach. According to the MLS, residential sales totaled $2.7 billion for all of July 2021, reaching 67 percent higher than the previous year.
Condo sales totaled a staggering $148 million compared to last week’s $131 million. The previous week’s volume rose from 208 to a total of 226. The average condo sales price also rose from $632,000 to $640,500.
The most expensive condo sale that occurred was a luxury condo at Setai, which sold for $12.3 million. After 39 days on the market, the unit sold for close to $3,391 per square foot. Our very own, Lucas Lechuga brought in the buyer for this property.
The second-highest and fewest days on the market condo sale occurred at One Thousand Museum for $5.6 million at $1,212 per square foot. This property was on the market for 1 day.
July Sales
Residential sales rose 58% in July with 3,632 closings, which consist of mostly condominium transactions. Single-family sales increased by 15% to 1,373 and condo sales increased by 104% to 2,259 sales.
The luxury market also experienced a leap in sales rising 110% for single-family homes compared to July 2020. For luxury condo sales, an increase of 323% compared to last July.
Developer Looking to Acquire 80% of Brickell Harbour
In the past couple of years, Brickell Harbour condominium owners have received multiple offer letters to purchase their units. More recently, one of our long-time clients has received a purchase letter for double the value of their unit. This has come at a time where all units seem to be receiving a similar letter with their purchase price unknown but it is evident of the developer wanting to buy out the tower.
The developer of interest is Brickell Bayfront Acquisition Associates, LLC, an affiliate of Fortune International Group. The limited liability company as well as Fortune International Group is located at 1300 Brickell Avenue in Miami. Their portfolio consists of the development, designing, and financing of Miami condominiums. They also offer brokerage services.
According to the letter (below), Brickell Bayfront Acquisition, plan on obtaining at least 80% of the units at Brickell Harbour. The letter also states that the company has spoken to the condominium owners association about purchasing units but it was concluded that it is up to each individual owner to make the decision to sell. Some of the highlights of the purchase agreement include:
The purchase price being offered is a significant premium above the market value of the unit and considers each unit’s particular size, view, floor, line, and improvements;
Cash earnest money is promptly deposited with a third party escrow agent to secure the contract;
There is no finance contingency;
Closing in 90 days after the expiration of the due diligence period;
The owner pays NO brokerage commissions (typically 6%);
The buyer pays off the recent special assessment for structural repairs; and
The ability to continue to occupy the unit for a period of up to 6 months after the date of closing.
Brickell Harbour is an 18-story condo tower located at 200 SE 15th Road in Brickell’s Financial District. The tower was built in 1974 and received major renovations in 2019. Residences comprise of 1 to 3 bedroom floorplans ranging from 602 to 1,641 square feet of living space. Tall ceilings, floor-to-ceiling glass windows, wide balconies, and gorgeous views are just a few of the residential amenities these units have to offer.
It is unclear what Brickell Bayfront Acquisitions plans on doing with the tower once they receive purchase contracts but we will update this article as more information is available.
Top Off for WYND 27 and 28 Towers to Begin Soon
A mixed-use, two-tower project in the Wynwood neighborhood broke ground in March 2021. Located at 129 N.W. 26th Street and 127 N.W. 26th Street gives it the names Wynd 27 and Wynd 28. Construction for these towers is set to top off soon.
According to the contractor’s Instagram, Beauchamp’s administrative staff visited the site to sign the beam for the future top-off ceremony. Kusher Companies and Block Capital Group are responsible for the development.
This project will consist of 152 apartments, 46,000 square feet of office space, 33,500 square of retail space, and 232 parking spaces with three roof decks and a large contemporary outdoor courtyard. One building will rise 5 stories and one will rise 8 stories.
The anticipated completion date for this project is Fall 2022. For more information on this new construction project, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.
Waterfront Mansion in Coconut Grove Breaks Record at $65 Million
Photo Credit: Pacheco-Martinez & Associates
A new record is in the books for Miami-Dade home sales. A waterfront spec mansion just sold for $65 million. Located in Coconut Grove, this home is the highest price sold residential home in Miami-Dade County history.
According to tax records, the property was traded for $50 million but multiple sources stated the home actually sold for $65 million which included the cost of completing construction on the home.
The home is located at 3488 Saint Gaudens Road and was sold by a company that is managed by Isaac Perez. According to the Real Deal and Tampa Bay Times, Isaac Perez is a longtime Key Biscayne resident who is an heir to a Venezuelan oil fortune.
The buyer is unknown but does have a Delaware LLC. Perez’s sister is also listed as the manager of the company.
The estate features 3 parcels totaling 4.3 acres with a pool deck, jacuzzi, boat dock, and outdoor entertaining space with a waterfall.
The lots were originally a part of a larger property that Perez purchased for $18 million in 2013. The 4th lot that a new mansion was built on was separated and sold a year ago for $6.2 million.
The transaction was financed with a $20 million loan from the Maxim Credit Group. This record sale passed the $50 million 2019 sale of the estate at 3 Indian Creek Island Road.
End of June Condo Sales Reach $259 Million
Another week of real estate sales shows a significant increase in volume and the total number of condos sold for Miami-Dade. According to the MLS, for the week of June 27th, through July 3rd, 357 condos sold for a combined $259 million. The previous week shows only 237 condos sold for a combined value of $159 million.
The average sales price for condos is $725,000. Last week’s price fell to $671,000. We are seeing a steady climb in condo price averages as well as an uptick in new construction sales.
The most expensive sale last week was non-other than a penthouse at The Mansions of Acqualina in Sunny Isles Beach that sold for $27 million. This 9,103 square foot condo features four bedrooms, 6.5 bathrooms, and 2 kitchens, also fully furnished by Fendi/Bentley. This developer-owned (The Trump Group) condo sold for $3,000 price per square foot. This sale is considered the third-highest condo sale in Miami-Dade history.
The second most expensive condo sale was at Continuum of South Beach. This unit sold for $8.6 million at a $2,459 price per square foot. This property was on the market for 108 days. This condo features 3 bedrooms, 3.5 bathrooms, with 3,500 square feet of living space. The property also features an Italian kitchen, marble floors throughout, and gorgeous ocean views.
One of the more notable single-family residential sales includes an Indian Creek Island Mansion purchased by a developer, Todd Michael Glaser for $24 million. This property located at 37 Indian Creek features 7,236 square feet of living space situated on 1.2 acres. Glaser plans to demolish this estate to build a larger home with 2 pools and double the square footage with hopes to list the new construction home at $50 million.
