In Only 2 Weeks, Over 80 Percent of the Units at E11EVEN Hotel & Residences Have Been Reserved

With E11EVEN Hotel & Residences, developers Property Markets Group and E11EVEN Partners were looking to make a splash…and a splash they made…a BIG splash! In only two weeks since their whisper (not-so-whisper) campaign began, they’ve been able to get reservations for over 80 percent of the building’s 400 total units. (I guess a good secret is hard to keep!)

And at an average price of $1,000 per square foot, getting over 80 percent reserved in a mere two weeks is no small feat! That puts it up there with the likes of Park West neighbor One Thousand Museum. But unlike One Thousand Museum, E11EVEN Hotel & Residences won’t have that front row vantage along Biscayne Boulevard, so what gives?

Well, for one, the units at E11EVEN Hotel & Residences are considered micro-units. Those always sell at a higher price per square foot than regular-sized condo residences.

Second, the units at E11EVEN Hotel & Residences come fully furnished and finished, including integrated audio, video, and lighting systems; an LED fireplace in every living room; fully built-out closets in the master bedroom; and a signature Home Essentials Package with silverware, glassware, linens, sheets, and towels.

Third, the residences at E11EVEN Hotel & Residences are considered condo-hotel units. These types of units provide owners with a lot of flexibility; owners will be able to use their units when they want or they’ll be able to place them in the building’s condo-hotel program to earn revenue when they’re not.

Fourth, E11EVEN Hotel & Residences is located in Miami’s 24-hour Entertainment District. For those who don’t know, Miami’s Entertainment District is made up of only two city blocks. In other words, E11EVEN Hotel & Residences will be the only hotel in Miami where the party never stops! If you’re looking for that Vegas-strip-style fun, E11EVEN Hotel & Residences will be the only game in town; it will be the place to be and be seen, complete with A-list celebrities at every turn.

Last but not least, the Miami real estate market is on fire. The developers of E11EVEN Hotel & Residences are proving that there’s no better time to launch a project in Miami than right now. After all, it seems every week that a new article gets published by a major news outlet describing just how hot the real estate market in Miami is these days (case in point example 1, example 2, example 3, example 4, and example 5).

The level of interest that E11EVEN Hotel & Residences has garnered has taken even the developers by surprise. As such, due to the faster than expected absorption rate, the developers have decided to move up the timeline of construction. The original plan was to go to contract in April or May and then begin construction towards the end of this year. The new plan, however, in an effort to convert reservations to contract and get this baby built, is to go to contract in just 2-3 weeks and then begin construction by early fall. As they say, get it while it’s hot!

Virtual Reality Tour of a Trophy Penthouse in Downtown Miami

In a time where most of us in this world are constrained to the confines of our homes, virtual reality offers an escape from the monotonous, melancholic doldrums. For the real estate industry at large, virtual reality provides an opportunity for prospective buyers to virtually experience faraway properties from the comfort of their living rooms. And make no mistake about it, with the use of a virtual reality headset, the experience can feel lifelike.

So that you can experience it for yourself, below, I’ve included a 3D virtual reality tour of my trophy penthouse listing at 900 Biscayne Bay. Again, to get the FULL experience, you will need a virtual reality headset but, even without one, you can still appreciate the awesomeness of this technology. Just be sure to watch it in full-screen mode.

The virtual reality tour below begins as you exit the elevator into the private elevator foyer. From there, the right-hand side of the residence includes the salon, kitchen, dining area, living room, master bedroom, and master bathroom while the left-hand side includes the media room, second and third bedrooms, second and third bathrooms, half bathroom, and laundry room.

Property Details

• Asking $2,999,000
• 3 Bedrooms + Media Room
• 3.5 Bathrooms
• 3,535 Interior Sq Ft
• 991 Exterior Sq Ft
• 61st Floor
• 36×36 Marble Floors
• MLS Listing

To view additional virtual reality tours of Miami luxury real estate, visit our recently launched Virtual Reality Lounge.

Photo Tour of Paramount Miami Worldcenter

Heralded as having “the Most Amenities in the World,” the developer of Paramount Miami Worldcenter is almost ready to showcase them. That’s almost because, despite closings beginning over two months ago, the building still remains under construction. However, from what I’ve heard, the developer of Paramount Miami Worldcenter is aiming for 100 percent completion by mid-November. I guess we’ll have to wait and see if that proves to be true.

As of last week, the lobby at Paramount Miami Worldcenter still remained under construction as well as the resort-style pool deck, BBQ area, tennis courts, soccer field, jam room, food market, and dog park. Additionally, all of the amenities located at the top of Paramount Miami Worldcenter – such as the Skydeck lounge, observatory, 56th-floor sunrise pool and poolside bar, Tai Chai deck, and rooftop infinity-edge pool – are all also still under construction (although my photographer and I were able to get sneak-peek photos of those areas as you will see near the bottom of this post).

As more and more of the amenities and common areas are completed at Paramount Miami Worldcenter, I will update this post in the weeks and months to come. For now, you will find below photos of the fully-equipped fitness center and boxing ring, yoga room, spa, children’s playroom, game room with golf simulator, conservatory, and mailroom. Please note, the basketball half-court and racquetball court are completed at this time but we did not get photos of them.

A Sneak Peek at the Rooftop Amenities and Views from Atop Paramount Miami Worldcenter

Spacious Floor Plans Rule the Day at Paramount Miami Worldcenter

Last week, clients of mine closed on two separate units at Paramount Miami Worldcenter – unit 4305 (a 1 Bedroom + Den, 2 Bath residence) and unit 4312 (a 3 Bedroom + Den, 4 Bath residence). According to the developer floor plans, the one-bedroom unit has 1,386 interior square feet while the three-bedroom unit has 2,320 interior square feet – both very large floor plans compared to what we’re used to seeing from developers in Miami. At each unit’s walk-through, I was pleasantly surprised to see that the actual square footage seemed to match what was stated in the developer floor plans…such a breath of fresh air to see a developer actually deliver to buyers the square footage that was promised.

And the two above-noted floor plans are not the exception but the rule; all of the standard floor plans at Paramount Miami Worldcenter are very spacious. I italicized the word “standard” because the developer sub-divided some of the floor plans near the pool deck to create studios and smaller one-bedroom residences. However, even those smaller floor plans are quite sizeable. The standard one-bedroom units at Paramount Miami Worldcenter range from 1,294 to 1,386 interior square feet; the two-bedroom units from 1,630 to 1,753 interior square feet; and the three-bedroom units from 2,320 to 2,376 interior square feet. Additionally, all standard residences at Paramount Miami Worldcenter have 10-foot high ceilings with floor-to-ceiling glass windows and a full-size laundry room.

Above and below are photos of unit 4305 at Paramount Miami Worldcenter – the 1 Bedroom + Den, 2 Bath residence – which I recently listed for rent for $4,200 per month. Keep in mind, this unit has 1,386 interior square feet. That’s larger than most two-bedroom units in Miami, and the den that it has is the size of most second bedrooms. The owner of this unit is in the process of building out all of the closets, installing wall-mounted shelving in the laundry room, installing shades on all windows, and tiling the balcony.

With 1,386 interior square feet, the 05 line is the largest one-bedroom floor plan at Paramount Miami Worldcenter. However, what really separates it from the other one-bedroom floor plans is the view. The 05 line is the only one-bedroom floor plan at Paramount Miami Worldcenter that faces east, meaning that it is the only one that overlooks the huge resort pool deck and has views of the water.

All units at Paramount Miami Worldcenter include two parking spaces (one assigned space plus one valet-only space). Additionally, covered by the HOA dues, each unit includes high-speed internet, cable TV, water, sewer, and trash removal.

One Thousand Museum Becomes the First Residential Development in the World to Partner with Forbes Travel Guide

One Thousand Museum has once again raised the bar when it comes to exceeding the expectations of today’s affluent and service-oriented condo buyers. This week, One Thousand Museum announced its partnership with Forbes Travel Guide, making it the first residential development in the world to partner with them. Forbes Travel Guide, known for creating the five-star rating system for luxury hotels, restaurants, and spas, has long been the global authority on luxury service. With this exclusive partnership, One Thousand Museum puts itself on the map as becoming the only condominium development to deliver an unrivaled, hospitality-focused residential experience for residents and their guests on par with that of the finest hotels in the world.

Along with delivering a comprehensive training program for One Thousand Museum’s on-site staff, Forbes Travel Guide will develop customized brand standards. Executive trainers from Forbes Travel Guide will collaborate with One Thousand Museum’s management team to ensure that world-class training is delivered to each staff member. Its intensive training program will enhance service skills and inspire One Thousand Museum staff to elevate the lifestyle experience for residents and their guests.

“We are proud to partner with One Thousand Museum Residences,” said Gerard J. Inzerillo, CEO of Forbes Travel Guide. “As the first residential condominium in the world to collaborate with Forbes Travel Guide, One Thousand Museum is leading the charge in its market in focusing on the guest experience. The company is investing in delivering superior service, which will better its residents’ quality of life.”

“We are raising the bar for what owners can expect from a residential experience,” says Louis Birdman, co-developer of One Thousand Museum. “We want a true five-star experience for our buyers, something that not only meets but also goes beyond what they experience in their most elevated travel experiences. Forging the alignment with Forbes Travel Guide –the world’s most well-respected rating system—presented the solution to make that a reality.”

Marina Blue’s New Valet Drop-off Area Scheduled to be Completed in 5 Weeks

Courtesy of the Marina Blue Condominium Association

After six-plus years of petitioning to the City of Miami, the Marina Blue condominium association has FINALLY triumphed in its quest to gain usage rights of the sidewalk area located immediately in front of its lobby entrance (northeast corner of the building). With construction well underway, residents and guests of Marina Blue will now be able to use the area for valet drop-off. It will feature a roundabout design and is scheduled to be completed in approximately five weeks.

Until recently, the City of Miami had forbidden vehicular traffic on this area fearing that it would interfere with the sidewalk’s geometric design created by Brazilian landscape architect Roberto Burle Marx. The design, which can only truly be appreciated from high above, took 20 years to be completed. A 1988 city ordinance had mandated that future developers pay for the cost to install the sidewalk patterns as each parcel along Biscayne Boulevard was developed.

The improvement should be a boon not only for Marina Blue, but also for traffic in the immediate area. It’s not uncommon to see a long line of parked Uber drivers and food delivery cars up and down Northeast 9th Street. Not only has this become a dangerous situation for residents entering and exiting the building’s parking garage, the congestion restricts the flow of traffic along that street.

Courtesy of the Marina Blue Condominium Association

Courtesy of the Marina Blue Condominium Association

1000 Museum Drone Footage from Helipad (Video)

The developer of One Thousand Museum has released a series of drone videos, each taken from the building’s rooftop helipad. The videos tease the jaw-dropping views future residents of 1000 Museum will enjoy as their chopper arrives and departs from the 62-story tower.

Once completed, One Thousand Museum will boast the ONLY residential helipad on the East Coast. The ultra-luxury development will include an on-site travel concierge service from which residents will be able to reserve the helipad and book transport to and from a number of destinations such as the Miami International Airport, nearby Islands, and more. Good riddance to Miami traffic!

One Thousand Museum was designed by legendary architect Zaha Hadid, whose untimely death two years ago caught us all by surprise. With an architectural marvel like 1000 Museum gracing our Miami skyline, the heavens will be left wondering if the “H” atop the building was left to denote “helipad” or Hadid’s last mark on our city.

The Views from Atop the One Thousand Museum Helipad

For those who missed it on our Social Media Feed a few weeks ago, the Miami Condo Investments team was given a VIP tour of the recently finished helipad at One Thousand Museum. Once completed, One Thousand Museum will be the first residential tower in Miami to ever include a helipad. As you could imagine, at a height of 709 feet, the views from atop One Thousand Museum are phenomenal; too good not to share, so here you go:

In case you hadn’t heard, One Thousand Museum will officially include a helipad, making it the FIRST residential tower in Miami to ever include one. It has already received FAA approval along with all other necessary approvals. Earlier today, my team and I were invited to tour the recently topped-off development with access to the rooftop helipad (located on the 62nd floor) as well as the Sky Lounge and Aquatic Center (located on the 60th and 61st floors). Talk about views for days with views in all directions!!! If you’re interested in purchasing a condo at One Thousand Museum, contact me. Half-floor residences start at $5.65M, townhouses at $12.5M, and full-floor penthouse residences at $19.6M.

A post shared by Lucas Lechuga (@miamilucas) on Apr 12, 2018 at 11:16am PDT

Monthly Assessments at 900 Biscayne Bay Drop 12 Percent Year-over-year

The owners at 900 Biscayne Bay received highly favorable news heading into the new year – their monthly assessments would drop 12 percent when compared to the amount that they paid throughout 2017. A big reason for the unusually large reduction was the $15M that the condominium association received last year as part of the settlement agreement resulting from 558 construction defect litigation it had with the developer and other related parties.

That litigation had been a thorn in the condominium association’s side, but now, with such a sizable settlement, they can make some nice improvements to the building. They recently updated the spa and, later this year, will begin renovation on their pool deck.

The monthly assessments at 900 Biscayne Bay are now at 74 cents per square foot, which is outstanding considering the level of amenities and services that the building offers. Below are the 2017 vs. 2018 condo dues for three of the 1 bedroom lines at 900 Biscayne Bay:

• 03 line
  • 2017: $765.85 per month
  • 2018: $673.25 per month
• 05 line
  • 2017: $780.16 per month
  • 2018: $685.80 per month
• 07 line
  • 2017: $787.72 per month
  • 2018: $692.45 per month