Construction at one of the newest Brickell towers, Una Residences Miami has gone vertical. Recently, a tower crane was seen being installed to begin the actual construction of the tower.
Since the project began construction in 2022, the developers began with one of the most extensive projects of the construction, the underground parking garage. At 100,000 square feet, the garage is considered one of the most expensive and deepest garages in Miami with the ability to house 236 cars. The garage itself is 3 stores below sea level.
With the parking garage located under the building, the developers were able to increase the height of the lobby and include 20-foot tall glass windows that will overlook the pool deck.
UNA Residences will feature floor-to-ceiling glass surfaces on every floor ‘reflecting the Miami sunshine,’ 10′ 8″ foot ceilings in every residence, and the most spectacular views of Biscayne Bay and the Rickenbacker causeway. Prices for these remarkable units range from $942,000 to $6,643,000.
BUILDING FEATURES
135 luxury condominium residences
Iconic 45-story waterfront condominium
2 to 5 bedroom residences ranging from 1,100 to 4,786 sq ft
Unobstructed views of the Atlantic Ocean, Biscayne Bay, and the city skyline
High-efficiency and noise-reducing floor-to-ceiling exterior glass
Three levels of underground parking
RESIDENCE FEATURES
Private elevator entries into each residence
Expansive terraces with effortless “lift-and-glide” floor-to-ceiling doors and glass balcony railings
10’8″ ceiling heights, above Miami standard
Chef’s kitchens with Gaggenau ovens, electric induction cooktops, microwaves, dishwashers, and refrigerators/freezers
Master suites with separate his and hers closets and bathrooms
Utility rooms with full-sized washers and dryers
Flow-through residences with east-to-west ocean and city exposures on the top floors
Two penthouses, each with a private pool and 11’7″ to 12’4″ ceilings
AMENITIES
Bayfront pool
Outdoor lap pool
Family pool
Jacuzzi
Catering kitchen
Kids’ splash-pad area
Owners’ lounge
Private dining/party room
Movie theater
Kids’ playroom
Outdoor lounge
Baywalk access
State-of-the-art fitness center, with yoga and personal training areas, plus his and hers dressing rooms
Private marina
Spa with steam room and sauna, as well as indoor and outdoor private massage treatment rooms overlooking the bay
Dedicated beauty suite for private hairstyling, manicure, and pedicure appointments
Beautifully landscaped outdoor terraces
Dog-walk area
Private air-conditioned storage areas
SERVICES
24-hour concierge service
Combination of valet service and self-parking
Package room
UNA Residences Miami is estimated to be completed summer of 2022. If you or someone you know have an interest in purchasing at Una Residences, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
First Look: Bentley Residences Scale Model and Sales Center Revealed
Today our team got the privilege of being the first to tour the new Bentley Residences Miami Sales Center and the one word that keeps playing through our heads is stunning. This sales center is so unique and every detail is so intricate that we cannot even begin to describe what we saw and heard…but I am going to try.
For starters, the exterior of the sales center is insane (in a good way). When you approach the building, you immediately notice the rust-colored Bentley statue. The outside of the building appears to be all glass reflecting the statue creating a diamond-like effect. The massive Bentley logo is located right outside the entrance.
Once you enter the gallery of the building, you immediately notice the inlaid lighting on the granite floors wrapping around but upward towards the ceiling creating a unique lighting experience. The lounge features comfortable seating and beautiful hardwood floors, and just around the corner is a sky blue Bentley.
During our tour, the scale model arrived at the sales center and we got to see the assembly of the model.
A model residence is just after the scale model. Once you enter, you immediately notice the 4 car garage that each residence will offer. After you exit your private elevator to your foyer, an expansive window overlooks your private pool. The open floor plan showcases a custom kitchen, attractive sitting area, and automatically retracting balcony doors. The innovative doors lead to an expansive terrace with a summer kitchen and access to your private pool.
More About Bentley Residences
Bentley Residences will be located at 18401 Collins Avenue and will be considered the world’s first Bentley-branded residential building. The tower will rise 60 stories and feature what only the Bentley brand can offer.
Featuring 216 fully finished units, each condo will showcase open indoor-outdoor floorplans, an in-unit garage with a car elevator, a private balcony, a sauna, floor to ceilings windows, and a pool. These units begin at $4.2 million.
Bentley Residences Amenities
State-of-the-art fitness center
Pool with cabanas
Spa
Restaurant
Whiskey bar
Cigar lounge
Cinema
Landscaped gardens
Dezervator car elevator
Construction is set to begin in 2023 with completion in 2026. If you or someone you know have any interest in purchasing at Bentley Residences, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.
Miami Condo Investments Celebrates its 15 Year Anniversary
On May 17th 2007, Lucas Lechuga launched one of the most successful condo websites in Miami. With just a desire to bring better user experience, real estate listings, and news, Lechuga has achieved just that and so much more!
Over the years, he was able to develop a way for users to search for their potential properties through alternative methods instead of the traditional zip code searches and he also found a way for consumers to access market statistics without ever having to make a call or enduring tedious research methods.
In 2017, for the 10 year anniversary of the website, the average users ranged from 40,000 unique visitors per month globally from 200 countries. Still pacing as the #1 Miami Condos Website, 2022 brings over 100,000 unique visitors per month globally just through Google.
Not only does Miami Condo Investments offer a unique real estate listing experience, but you can also enjoy new construction tower updates, real-time inventory data, condo ranking system, up-to-date condo tower photos, rentals, and a real estate blog posted daily.
We are also in the process of some new landing pages aiming to be even more user and mobile friendly, searching with specific criteria, and a new mobile app. We will update everyone once we get closer to a launch date.
As far as the team…During our last anniversary, our team included six agents and now our team is growing along with the website. We have reached 9 agents that assist buyers and sellers with all of their real estate needs. We also have 3 office admins, including assistants and marketing pros.
We are so grateful for all of the accomplishments that this website and our team has completed over the past 15 years and we can’t forget about our readers and clients. Thank you so much for allowing Miami Condo Investments to be your most knowledgable partner while navigating the real estate market. We look forward to serving you and Miami the next 15 years!
Sales for Waldorf Astoria Miami Hotel and Residences Reaches 84% Sold
Developers for the Waldorf Astoria Miami Hotel and Residences have just announced that sales have officially reached 84% prior to breaking ground on the construction site. This is of no surprise considering most the demand for new construction condos in Miami.
Sales were launched in March 2021, and they claim that the market has been so robust that 75 percent of the inventory has been sold in the first nine months.
The 100-story tower assembled to look like staggered glass boxes in downtown Miami is the result of a collaboration between PMG, Greybrook Realty Partners, and Hilton. Rising 1,048 feet tall, Waldorf Astoria Hotel and Residences Miami will be the tallest Miami tower and Miami’s first supertall skyscraper.
This luxury project will include 360 condo residences, 205-key hotel rooms operated by Waldorf Astoria.
Towe Amenities:
Private bar/wine tasting room
Signature restaurant
Meeting and boardrooms
All-day dining brasserie
Waldorf Astoria Kids Club
Peacock Alley
True Waldorf service and concierge
24-hour valet parking
Waldorf Astoria immersive resort-style pool with outdoor cafe and private cabanas
24-hour doormen and lobby desk attendants
Live-in resident manager and 24-hour security
24-hour concierge services as well as access to dedicated on-site professionals
Signature spa
A leading-edge fitness center with private training studios
Owners Lounge with high ceilings, billiard and entertainment room, and adjacent catering kitchen
Private residential pool deck with whirlpools and lounging areas
Frontdoor package and service delivery via signature Concierge Closet
Exclusive Waldorf Astoria Miami access and benefits, including preferred spa and restaurant rates and access to a la carte hotel services
Residence Features:
The latest “smart building” technology with a custom Waldorf Astoria Residences app linking residents to 24-hour concierge services and building amenities
10-foot-high ceilings with floor-to-ceiling windows sporting stunning views of the city, Biscayne Bay, Miami Beach, and the Atlantic Ocean
All residential interiors designed by award-winning interior design firm BAMO
A contemporary lighting package including recessed lighting, dimmers, and lighting control
Includes integrated audio, video, and lighting systems
Fully built-out closets in all residences curated by BAMO
Flooring selections included with specifications recommended by BAMO
Built-in top-of-the-line in-unit washer and dryer
Valet parking included
Pre-wired for high-speed communications and data connection
Sub-Zero and Wolf appliance package with wine storage and integrated paneled microwave, dishwasher, built-in convection oven, and refrigerator/freezer
Kitchens featuring custom Italian cabinetry curated by BAMO
Dornbracht and Duravit bathroom fixtures and accessories
Master bathrooms with rainfall showers and custom Italian vanities
The building was designed by Carlos Ott and Sieger Suarez Architects. The design will resemble nine large, staggered/stacked glass cubes. The interiors of Waldorf Astoria Residences Miami were designed by BAMO.
According to the developers, the ground-breaking is expected to be this summer. Residences start at $1 million and the tower is expected to be complete in 2025.
Groundbreaking Scheduled for Aria Reserve Miami
The groundbreaking for the long-awaited Aria Reserve in Edgewater has finally been scheduled. With the announcement of the groundbreaking also comes the announcement of sales launching for the second tower.
Aria Reserve will rise 62 stories tall reaching 627 feet, making it the tallest dual waterfront residential development in the United States. The project will feature two towers, each with 390 units and 1,608 parking spaces.
Sales for Aria began in June 2021 for South Tower and since the launch, its sales have been very successful. According to the Melo Group, over $40 million of all 12 penthouses have sold within the first 90 days of the launch. Now more than 90% of the units have sold with a total sales of over $600 million.
Construction deposits include a 30% deposit for all U.S. buyers and a 40% deposit for all international buyers. According to the developer, more U.S. buyers have purchased penthouses but overall units, the buyers have been half from Latin America and the other US buyers.
Residential units begin at $750,000. Although sold out, the penthouses started at $12 million. Units will feature 1 to 4 bedroom floorplans with 1,100 to 2,600 square feet of options. The penthouses themselves range from 3,500 to 9,000 square feet with each of them featuring a 3-car garage.
Tower Amenities:
2-acre recreation deck
Lap pool and spa
Gaming center
Playground
Tennis courts
Basketball courts
Paddle courts
Miniature golf course
Wellness center
Gym
Meditation Garden
Residence Features
Unobstructed views of Biscayne Bay and Ocean
Finished residences with two flooring options
All residences include 2 high-speed elevators
All residences include an office/media room
All residences are sunrise-sunset flow-through from East to West
3-month seasonal rentals allowed up to 4 times per year
The Aria Reserve groundbreaking ceremony is set for May 16, 2022. If you or someone you know have an interest in purchasing at Aria Reserve, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Calta Group Purchases Hollywood Development Site for $9.5 Million
A new apartment development could be in the works in downtown Hollywood. The Calta Group recently purchased the site located at 2215-2239 Hollywood Blvd for $9.5 million.
The 1.6-acre site was sold by Hollywood Construction & Development LLC which is managed by Joseph Horn of Miami. The same company purchased the site just late year in May 2021 for $7.7 million.
Several retail and office buildings currently occupy the site and would need to be demolished once the project is approved. The Calta Group, which is led by Ignazio, Gaetano Caltagirone, and Igor Blatnik plans to develop an 8-story apartment tower. The tower itself would feature 180 units and 1,800 square feet of ground-floor retail space.
The original design was proposed in 2019 by Borges Architects + Associates who would remain the lead for the project.
Amenities:
Pool deck
Business center
Gym
The groundbreaking will be scheduled for the 4th quarter of 2022 but the Calta Group still needs to select a general contractor for the project.
The Calta Group continues to make headway in Hollywood with their total construction projects reaching $1.5 billion.
Sales Launch for Society Residences in Downtown Miami
In the heart of downtown Miami, sits a new construction site of an up-and-coming tower developed by PMG. Society Biscayne was originally announced as an apartment tower but recently the developer decided to transition the apartment tower into residential units due to the lack of inventory in Miami. Now the property is officially Society Residences.
The construction for the 704 unit tower is currently underway at their site located at 398 NE 5th St in Miami. Rising 47 stories (571 feet) tall, units will be presented as fully finished and fully furnished with luxury amenities and outstanding water views.
Visionaries
Developers: Property Markets Group (PMG) and Greybrook Partners
Architect: Sieger Suarez Architects
Interior design: Cotofana Designs
Building Features
47-story tower located in Downtown Miami
Designed by internationally renowned architecture firm Sieger Suarez Architects
Views of the Miami skyline, unobstructed views of Biscayne Bay and the Atlantic Ocean
Modern Residential Lobby with 24/7 Concierge
Electric Vehicle Charging Stations
Features the Latest Smart Building Technology
Destination Controlled Elevator Dispatch
Smart Package Lockers
Custom Society Residences app, linking residents to concierge services and building amenities- Digital Key- Guest Access- Payments- Package Deliveries- Messages from Management
Dry Cleaning & Laundry Service Lockers
Access-controlled entry points throughout
Valet Parking
Amenities
Lobby with Cocktail Bar and Restaurant by Jaguar Sun®
Over 19,000 square foot double-height amenity deck overlooking Downtown Miami and Biscayne Bay
Curated art and green walls throughout all common areas
132-Foot Resort Style Pool with private lounge areas
16 ft Poolside Screening LED Wall
Lawn with Theater
Sky Entertainment Lounge & Grilling Terrace featuring eight grills
Fully-furnished studios, 1, 2, and 3-bedroom residences
9’2” ceiling height with floor-to-ceiling windows
Balconies with stunning views of Biscayne Bay and the Miami city skyline
Porcelain wood-grain tile flooring throughout
Built-in full-size washer and dryer(in select residences)
Ecobee smart thermostat
Smart keyless entry
Pre-wired for high-speed communications, multiple telephone lines, and cable
Custom kitchen cabinetry by Italian design house Italkraft
Quartz kitchen counters
Frigidaire stainless-steel appliances including microwave, dishwasher, freestanding range oven, and refrigerator
Frameless glass-enclosed showers
Custom Italian vanities by Italkraft
Modern matte black kitchen and bathroom fixtures
Fully built-out California-style closet
Pricing:
Studios from $600K
One bedroom from $800K
Two bedrooms from $1.4M
Three bedrooms from $1.4M
The building is still under construction but the TCO is anticipated to be received by the end of June.
If you or someone you know have any interest in purchasing at Society Residences, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.
Aston Martin Residences Miami Exceeds 90% in Sales Breaking Records in January and February 2022
Developers for Aston Martin Residences Miami recently announced that sales continue to climb and there seems to be no stopping the upward direction of unit prices. Sales for this new tower have surpassed 90%, beating its own records for both January and February 2022.
According to Alejandro Aljanati, CMO of G&G Business Developments, the business behind the project in partnership with premium brand Aston Martin, January and February 2022 combined completed over $100 million in sales. There are more under contract leaving less than 40 units available for much anticipated luxury tower.
According to Aljanati with the tower 90% sold, “This is called scarcity and rarity. There’s no inventory. The whole building is increasing prices. So even if you bought an apartment six months ago, you will make a very good profit.”
The tower’s penthouse, which is the only triplex penthouse in an Aston Martin structure, has boosted its asking price from $50 million to $59 million as a result of the increasing demand. The purchase still includes the extremely rare Aston Martin Vulcan.
Units range from studio to 4 bedroom floor plans with square footage beginning at 698. River and Panoramic units start at $750,000 and rise to $8+ million depending on the floor plan and unit location. As for the Sky and Penthouse residences, units begin at $14 million reaching well over $50 million.
Development Information
Developer: G&G Business Developments
General Construction: Coastal Construction
Architect and Design Team: Luis Revuelta of Miami and Bodas-Miani-Anger of Argentina
Residence Features
Private service entrance at basement level for all move-ins and personnel
Bulthaup custom cabinetry in kitchens
White marble floors throughout the entire unit and porcelain in all balconies
Quartz countertops in the kitchen. Piatra Grey (Ceasarstone) or similar
Gagganeau appliances in all residences: (sizes depends on units)
Duravit wall-mounted toilets in all units throughout the building and bidets in select units
All bathrooms feature marble floorings and walls (Thassos or similar
Hansgrohe faucets in secondary bathrooms and exclusive Axor model in master and powder bathrooms
Italian Bertolotto doors with AGB hardware in all units
Wood-paneled front doors to residence with programmable smartphone technologies such as NFC and Bluetooth
Floor soundproofing system installed throughout all units including all bathrooms
Walls dividing units with corridors will be 10″ wide with layers of Quiet Rock improving soundproofing
German Schuco hardware on sliding glass doors
ThyssenKrupp “Destination Dispatch” elevator system from main lobbies getting passengers to their destination in the shortest travel time and enabling access only to their own floor for enhanced security
High-speed elevators going up to 1200 feet per minute
High-speed internet and Wi-Fi hotspots in all common areas
Cast iron pipes and risers avoiding Waterflow noises
Amenities
Full-service building with concierge and hospitality-inspired services
Super Yacht Marina facilities
“The Aston Martin Club” membership
Rooftop infinity pool located on 55th floor
Fitness Spa and Fitness Center with Meditation Room and Treatments Suites
Private Steam, Sauna, and Locker Facilities
Pet-friendly building
Building designed with a helipad on the rooftop
24-hour valet and covered garage self-parking
Valet charging stations for electric cars
Valet Butler
Additional bicycle and private storage spaces
10 destination controlled super hi-speed elevators and separate dedicated service elevators
Digital connection to concierge and all building amenities from every residence
State-of-the-art Business Center and Conference Rooms
Art Gallery and Art Lobby on 53rd floor
Private Residence Movie Theatre, Event Space, Kids Playroom, Teen Center, and Game Rooms
Virtual Golf
Beauty Salon with blow-dry station, pedicure chair, manicure table, and wash stations
Construction for Aston Martin Residences Miami is expected to be completed by the end of 2022. If you or someone you know have any interest in purchasing at Aston Martin Residences, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.
Miami Real Estate Sales Soar for the 17th Consecutive Month
According to the Multiple Listing Service (MLS), Miami-Dade County real estate achieved its best-ever February sales month as existing condo transactions climbed by double digits for the 17th consecutive month, following the historic January 2022 and 2021 year sales.
Total house sales in Miami-Dade County increased 13.2% in February 2022, from 2,485 to 2,814. Due to low availability, Miami single-family home transactions fell 7.9%, from 1,093 to 1,007 units. Existing condo sales surged jumping up 29.8%, from 1,392 to 1,807, marking the 17th consecutive month of double-digit year-over-year condo gains.
Home sales were much higher in February 2022 compared to February 2020 with total house sales up 51.1% compared to February 2020, from 1,862 to 2,814. Miami single-family house sales are up 13.9% while condo purchases are up 84.8% from January 2020.
Miami luxury condo sales are up 45.4%, with mid-market transactions ranging from $400,000 to $600,000 on the rise. In addition, Miami’s existing condo luxury ($1 million and more) sales increased 45.4% year on year to 237 deals.
Miami single-family houses valued between $400K and $600K climbed 24.7 percent year over year in February 2022, with 389 sales. Miami’s existing condo sales in the $400K-$600K price range surged 101.8 percent year over year to 345 deals in February 2022.
Single-family home inventory fell 29.3 percent year on year in February 2022, from 3,128 active listings the previous year to 2,212 this month. Condominium inventory fell 55.1 percent year on year to 5,272 from 11,735 during the same time in 2021.
Months’ supply of inventory for single-family homes has been decreasing since July 2019, suggesting high demand. Months of inventory for single-family homes fell 39.3 percent to 1.7 months, indicating a seller’s market. Existing condominium inventory fell 74.5 percent to 2.6 months, indicating a seller’s market. A balanced market between buyers and sellers provides six to nine months of supply.
The total number of active listings at the end of February 2022 fell 49.6 percent year on year, from 14,863 to 7,484.
In February 2022, Miami-Dade County single-family median prices grew 19.1 percent year over year, rising from $450,000 to $536,000. The median price of a single-family home in Miami has climbed for 123 straight months (10.25 years), the longest unbroken stretch on record.
Year over year, the median price of existing condos grew by 26.7 percent, from $300,000 to $380,000. The median price of a condo has risen in 125 of the previous 129 months.
Mortgage rates have typically been low, making house purchases more accessible. The average commitment rate for a 30-year, conventional, fixed-rate mortgage was 3.76 percent in February, up from 3.45 percent in January, according to Freddie Mac. The overall commitment rate for 2021 was 2.96 percent.
Miami real estate is attracting several bids, with buyers willing to pay above the asking price. In February 2022, the median percent of the initial list price obtained for single-family houses was 98.7 percent, up 1.5 percent from 97.2 percent the previous year. For existing condominiums, the median percent of the original list price obtained was 97.8 percent, up 3.7 percent from 94.3 percent last year.
Miami cash sales accounted for 75.6 percent of all sales in February 2022, which is much higher than the national average. In February 2022, cash transactions accounted for 43.9 percent of Miami closed sales, up from 35.8 percent in February 2021. According to the most recent NAR figures, cash accounts for around 25% of all house sales in the United States.
Cash sales made up 53% of all existing condo sales in Miami and 27.5 percent of single-family purchases.
New Miami-Dade County Legislation will Require Landlords to Provide a 60 Day Notice of Rent Hikes
Residential landlords in Miami-Dade County are now required to provide renters at least 60 days’ notice of rent increases of 5% or more, as renting in South Florida grow increasingly expensive.
The legislation was proposed by Commissioner Eileen Higgins and unanimously approved during the commission meeting on March 15th.
Throughout the country, renters are facing a massive rent spike by at least 50% and according to Miami-Dade County, they hope this legislation will help curb those numbers and make Miami more attractive to tenants.
This new legislation would apply to renters nearing the end of their contracts as well as those on month-to-month leases who are facing the 5% rent increase. Also in the new legislation is the notice on eviction time going from 30 to 60 days, including month-to-month leases that came from a 12-month lease.
According to a commissioner, landlords could bypass the new legislation by offering weekly leases. This new legislation can only be enforced in court.
Higgins stated during the meeting, “Thank you all for your understanding about how fair notice is the right thing to do, but not all landlords are doing the right thing. So, this requires them, if their mothers didn’t teach them to do the right thing.”
There are also 2 additional bills for rent control expected to be voted on by this summer, Tenant Bill of Rights and Rent Control. The tenant bill of rights would allow tenants to withhold rent for certain maintenance issues that the landlords haven’t repaired. Landlords would also be required to provide renters with information about their rental rights for state and county laws.
If approved the Rent Control legislation would put a cap on rent increases for 12 months. There would be many hurdles with this legislation that involved multiple votes by commissioners, the mayor, and Miami-Dade citizens.
