Market Stat Monday: Almost $50 Million In Contracts Signed Post-Irma
It has been a few weeks now since the skies have cleared in Greater Downtown Miami after Hurricane Irma’s brush, and despite a little bit of flooding and debris, we were very lucky. Now that cleanup is under way, how have the condo sales fared?
Not too bad, if I must say. Despite having only two functional weeks in September, nearly $50 million in resale contracts were signed on 79 total units.
The least expensive listing to find a buyer was at the Loft II Downtown, where a 770 square foot one bedroom was listed for $175,000. Of the 79 units that went to contract, 50 of them were listed for under $500,000. We will find out the final sales prices once they close.
In the luxury segment, there were a total of 6 properties listed over $1 million that found buyers. Among them was the crown jewel penthouse #1 at Asia on Brickell Key. With nearly 5,000 interior square feet through three levels including a dramatic rooftop terrace with a private pool, the sellers had asked $8.5 million, or $1,715/square foot.
Comparing September of 2017 to September of 2016, you will see that 2016 brought both a higher number of transactions as well as a higher volume of listings sold, but not enough to make it an overall better month considering that September 2017 was short due to people being distracted by the hurricane and Hurricane Matthew didn’t brush South Florida until October of last year. September of 2016 brought just over $60 million of listings sold, with 119 total transactions.
To celebrate the end of a successful yet stressful September, let’s check out some photos of that Asia Penthouse!
Giancarlo Stanton Tours His Nearly Completed Miami Penthouse
photo: _nicolasbarbara/instagram
Calling Giancarlo Stanton the legitimate home run king may be premature, but there’s no reason for him not to plan ahead; after all, they say every king must have his castle. In May, it was reported that Stanton contracted to purchase a 7,800 square foot, tri-level penthouse at Aria on the Bay – a 53-story, luxury condo development located in Miami’s Edgewater neighborhood. Earlier today, Stanton toured the building, stopping briefly for a photo with Aria on the Bay’s sales and development team. The photo was taken on the rooftop of his nearly completely penthouse, which will come equipped with an outdoor pool and summer kitchen.
Aria on the Bay is slated to be delivered early next year. Scroll down for a digital rendering of Stanton’s outdoor terrace.
The “Crown Jewel” Penthouse At Regalia Hits The Market… With A Very Romantic Bonus
It is located 46 stories above the Atlantic Ocean with a sprawling 16,805 square feet of life’s finest living designed by Architectural Digest’s Charles Allem. The developer has withheld it from the market for the last 3 years, perfecting every detail, and here it is. The “Crown Jewel” of Regalia, a super-luxury boutique high rise in Sunny Isles Beach, is available now for $39 million… the most expensive condo in Sunny Isles and the second most expensive in all of Miami Beach.
“The time invested to perfect the design of this residence is evident in the finite details, of which a buyer of this caliber not only requires, but desires for their dream home. It is the final masterpiece of Regalia,” said Kevin Venger, a co-developer of the tower.”
The triplex apartment offers 360 degree views of the skyline, white sand and blue ocean. There are 6 bedrooms, 6 full baths, 2 powder rooms and a rooftop pool bath. Bronze accents and millwork found throughout turn the residence into a golden oasis, while top-of-the-line technology, including smart home keypads and drop-down televisions, are concealed to maintain design integrity.
To give you an idea of the scope of this sky-palace, the master bath alone is over 1,500 square feet with a private spa. The spa is fully clad in Calcutta Gold stone with a steam room, massage beds, and hydrotherapy area. With the average 2 bedroom condo being between 1,000-1,200 square feet, that’s really something!
When you walk into the double-height entrance, you will be greeted by a cantilevered stone staircase with frameless glass, 1,000-bottle wine cellar of millwork, metal, and glass, and a backlit smoky quartz bar with all the accessories. The room’s centerpiece is a one-off antique-bronze metal chandelier with layers of more than 225 floating tubular glass pendants by Ilanel, designed to emulate rain during the day and the constellations at night. Complimenting the sprawling, open layout is an adjacent formal dining room, featuring a custom chandelier of rock crystal baguettes and a nine-foot, 12-person table made of two single stone slabs that was especially made for this room.
As the ultimate entertainer’s space, the residence boasts a movie theater complete with 10 European-upholstered and fully-reclining chairs, with an adjacent 1,100-square-foot game room that offers a lounge setting, bar and designer billiard table with a vintage light fixture. The versatility of the kitchen can also be adapted for the likes of a private chef-catered intimate dinner or hosting large gatherings for more than 50 guests.
Each level of the unit can be privately accessed by a newly-designed pneumatic vacuum glass elevator that peaks at the home’s pinnacle of opulence – a 360-degree rooftop sun terrace. An outdoor summer kitchen is equipped with a retractable roof, stone-clad sky bar with lounge seating, and a pool bathroom with outdoor rain shower. The rooftop’s trophy piece is its expansive waterfall that cascades directly into a private pool amid a backdrop of unobstructed views of Miami, from Coconut Grove, over the iconic Downtown Miami skyline and up to the Fort Lauderdale cityscape.
As if that weren’t enough to give you a wow-factor, the Crown Jewel of Regalia also comes with a jewel of its’ own… a rare $500,000 pink diamond. How romantic!
Biscayne Beach’s Ultimate “Sandcastle In The Sky” Asks $9.5 Million
While doing their pre-construction sales, the developer of Biscayne Beach used the tagline, ‘Sandcastles in the Sky,’ and now they have released the details of the ultimate one. Penthouse 7 sprawls over 7,500 square feet of interior space with soaring ceilings, tons of natural light and views of practically all of South Florida.
It has 4 bedroom, a den, 5 full bathrooms and 2 powder rooms. In the master bath, there is a private sauna and the rooftop boasts a private pool. The developer is offering it decorator-ready for $9,453,900. Have a look at the photo preview and let us know what you think!
Dramatic Four Story Marquis Penthouse With Rooftop Pool Seeks $13.9 Million
If you’re interested in trophy properties that are high in the sky, prepare yourself. The dramatic upper penthouse at Marquis Residences came back to the market yesterday with a $5 million price cut and every inch is awe-worthy.
Spanning over 8,000 square feet through the 64th-67th floors, the custom-designed property boasts 4 bedrooms, 4 full baths and 3 half baths. As you exit the private elevator, you are greeted by a waterfall in the foyer. Once inside, illuminated stairs flow through the four levels of splendor, up to the 67th floor private rooftop pool.
Only three other available Downtown Miami area condos dare to approach the level of grandeur seen in this Marquis penthouse. Just two buildings south of Marquis, Zaha Hadid’s One Thousand Museum has listed a 10,000 square foot residence for $20.7 million that is currently under construction and should be delivered in 2019. Down in Brickell, three combined penthouse units covering 8,800 square feet at the Four Seasons Residences are listed for $25 million and just next door is Carlos Ott’s Echo Brickell. It isn’t currently marketed on the MLS, but the nearly completed development will feature a duplex penthouse custom designed by Carlos Ott himself is seeking $42 million and is expected to be delivered by early next year.
Marquis PH6401 was purchased in 2010 by an American businessman for $4.2 million. The owner worked his way up from the ground level at his father’s defense logistics company that he had started with just 3 people over 30 years ago. After taking over the CEO seat in 2003, he continued to grow the company until it was ultimately sold to Honeywell for $230 million, according to a profile in the Alexandria Times. Judging from the listing photos below, it seems he has just as much design sense as he has business sense, because this place is truly amazing.
What do you think?
Brickell City Centre’s Rise Penthouse Has Sold For $5.75 Million
Even before the offering was able to be made to the public, an undisclosed buyer has snatched up the upper penthouse at Brickell City Centre’s Rise tower. This is an amazing sign, in a time when the news media continually injects fear and dread into our real estate market. Although the number of buyers are undeniably less plentiful, the buyers who are looking into Miami purchases are very serious about getting what they want and after you see the floor plan, it won’t be a surprise that this gem sold before it hit the market.
The duplex penthouse boasts approximately 4,500 square feet of interior space plus roughly 4,500 square feet of outdoor space. There are 4 bedrooms including a junior master suite plus service quarters and a den. There are 3 balconies, two on the first level and one on the second level off of the master suite. Each level has a terrace overlooking Brickell and the Biscayne Bay. On the first floor, the terrace includes a summer kitchen and a private swimming pool. A private jacuzzi overlooking the city is located on the terrace off of the master suite.
This comes on the heels of another recent noteworthy sale, when a South African buyer purchased a waterfront teardown for $10 million. We have learned that the buyer of the Brickell City Centre Penthouse is not a foreign investor, just a very private American with very good taste. The final sale price was $5.75 million.
Allison Ortiz from Fortune International’s in-house sales team was the one to put the deal together. She is someone who has worked with the Miami Condo Investments team for many years, even back when Brickell City Centre was just a spark in Stephen Owens’ eye. We have been fortunate to have her as an asset for our clients at Brickell City Centre, Infinity at Brickell and also Met1 in Downtown. The earlier projects have since sold out fully, but she always goes the extra mile for our buyers and the clients we have worked in those buildings have all been extremely pleased with their purchases. Congratulations to Allison on a job well done and congratulations to the buyer on a beautiful property!
Currently on the 10th, going on 11th floor of vertical construction with over $300 million in signed contracts, Brickell Flatiron has unveiled their dramatic penthouse collection designed by famed Italian architect Massimo Iosa Ghini. The penthouse apartments are located on floors 50-64 of the 700 foot tower and include a wide variety of layouts.
Expansive single story residences are priced between $1 million – $2.5 million. Upper penthouse duplex and triplex residences are priced from $6 million to $15.5 million. The upper penthouses will include rooftop pools and summer kitchens in addition to the upgraded finishes in all of the penthouse units.
The upgraded kitchens have Snaidero motorized cabinetry with customizable cabinet colors, Miele under-counter wine coolers and integrated appliances. The laundry rooms are outfitted with Bosch washers and dryers that have anti-vibration and noise-suppression technology. Every penthouse unit is fully equipped with state-of-the-art technology systems, including a private wireless network and a secure smart-lock system.
Have a look also at the latest construction update video, shared with us by Chris Suarez, our representative for the development:
Inside The Estates at Acqualina’s $16.675 Million Casa D’Oro
It is dubbed as the “gold standard of single-family condominium residences” and boasts 11,605 total square footage of living space (8,870 interior square feet of interior space plus 2,735 square feet of terrace area) on the top two floors of the ultra-luxury Estates at Acqualina in Sunny Isles.
The layout offers a dramatic entry from a private elevator to the 50th floor and a dramatic foyer with 10 foot double doors leading into the living areas. All of the entertaining areas and two guest bedrooms are on the main level with the main family living quarters on the upper level including four additional bedrooms.
On the ground level terrace, you will find a private pool, sauna and garden area overlooking the Atlantic Ocean. The massive entertaining area features an open kitchen, living, dining and breakfast area with sweeping ocean views. The buyer will have a choice of marble or wood floors throughout, including on the terraces and the master baths are cloaked in onyx walls. The his and her’s dressing rooms are finished with suede or leather finishes.
Here is a preview of the $16,675,000 floor plan and renderings of the finished product, that is expected to break ground later this year and be completed in 2019.
Paramount Miami Worldcenter Releases Brochure For Penthouse Collection
The developer of Paramount Miami Worldcenter has released their exclusive penthouse collection with a sneak-peek brochure and renderings. The 26 units will be priced from $3.5 million up to $9.5 million.
As shown in the key plan featured in the brochure, four of the units will be located on the apex of the tower, offering those units expansive rooftop sky decks overlooking the bay and city. The plans are between 3,500 square feet and 6,000 square feet and will each have four or five bedrooms. All plans will have private elevator entry, Gaggenau appliances, and custom finishes.
Paramount Bay Penthouse With 3,000sf Terrace Lists For $5.75M
If you are into outdoor space, we have a treat for you! This Paramount Bay penthouse has a sun deck that is larger than most people’s homes. It is really more of an outdoor living and dining room with 360 degree wraparound views for you and your 40 closest friends.
The property was listed a couple of weeks back by our very own Dora Puig and was the Elle Decor model residence when the building was undergoing their initial sales from the developer. It has light bleached oak hardwood floors, 10 foot ceilings and a fully customized kitchen. The layout is open and offers a full master bedroom wing with a private balcony. Both guest bedrooms have ensuite baths and the fourth bedroom is used as a service quarters. The apartment comes with 4 parking spaces and 2 storage units.
Paramount Bay condominiums is located in Edgewater, at 20th and North Bayshore Drive. The building opened in 2011 with interiors by Lenny Kravitz. The asking price is $5.75 million. Here are some additional photos, let us know if you are interested in a tour.
