Microsoft Officially Announces Move to 50,000 Square Foot Space in Brickell
As more tech companies and their execs flock to Miami, another quintessential name is making a surprising move to Brickell.
Microsoft Corporation has recently signed a lease for a 50,000 square foot space in the Brickell Financial District. The property located at 830 Brickell is centrally located in Downtown Miami near the 500,000 square feet of open-air luxury shopping and close proximity to iconic residential towers.
Microsoft’s official headquarters is located in Redmond, Washington and this new location will move its Latin America Team and make the Brickell location their regional hub.
In a press conference to announce their new location, Microsoft’s Vice President of Sales, Marketing, and Operations; Mariana Castro, announced that this team will be supporting other Microsoft businesses.
Castro also stated that they look forward to the opportunity to be a part of a rapidly expanding city and they look forward to growing with Miami.
The commercial building at 830 Brickell rises 55 stories and offers 640,000 square feet of commercial rental space. The building was designed by Adrian Smith + Gordon Gill and developed by Oko Group and Cain International.
The building is currently under construction and the anticipated completion date is scheduled for 2022. This building is Brickell’s first new office building to be built in over 10 years.
Other tenants in the building include a private equity firm, managed by Thomas Bravo, who leased a 36,000+ square foot space in January 2021.
Microsoft will join giants like Live Nation, Spotify, Boston Private, and Uber in Miami in this new wave of businesses moving to South Florida. With this massive transition for Microsoft, we can only expect this announcement will push other companies into taking a closer look at Miami as home.
Miami Heat’s Very Own Jimmy Butler Sold his Pinecrest Mansion for $7.1 Million
Photo Credit: Douglas Elliman
Jimmy Butler, Small Forward for the Miami Heat just sold his Pinecrest Mansion for $7.1 million. Butler who just purchased this home just 2 years ago really took advantage of the Miami market because he originally purchased the estate for $4.6 million in 2018. The home was built in 2013.
Photo Credit: Douglas Elliman
Records show that the managing partner, Reshma Sohoni, for London-based venture capital firm called Seedcamp purchased the home. Sohoni co-founded Seedcamp in 2007 with the idea to assist in investments for European tech start-ups.
The home located at 8975 Southwest 63rd Court in the Stritter Estates subdivision of Pinecrest features 7 bedrooms, 8 bathrooms and a 3 car garage. The custom Mediterain home with 8,958 square feet of living space showcases a grand foyer that opens to the living and dining rooms with double height ceilings.
The large game room is perfect for entertaining with a custom wet-bar and dedicant kitchen. The custom cabinetry, wine gallery, and butler’s pantry makes this home truly unique. The master offers a private terrace and spa bath. The backyard is the ultimate in luxury with covered terraces, playground, spa, and resort style pool.
Photo Credit: Douglas Elliman
For the next four years, Butler will still be a Miami resident with his recently signed 4 year contract extension with the Heat for an additional $184 million.
Butler isn’t the first Heat player to sell its Miami mansion. Dwayne Wade and wife Gabrielle Union sold their Miami mansion for $22 million after 2 years on the market.
If you’re having trouble deciding on plans this weekend, we’ve made it easy for you! Here are the tops things to do this Labor Day 2021 weekend.
STAYCATION
Enjoy a nice long staycation this weekend at these unique Miami Hotels.
Goodtime Hotel-This 7-story hotel is located at 601 Washington Avenue in Miami Beach and features 266 rooms spanning a full block with 100,000 square feet of indoor space. Enjoy the art deco pool deck all day before your reservations at their signature restaurant Strawberry Moon.
Fontainebleau-This luxury hotel is located in Miami Beach and it is considered the #1 Hotel in Miami Beach according to Travel + Leisure magazine. With current specials, Fontainebleau has package options available for all. It also has a number of lounges, bars, nightlife, and restaurants.
Photo Credit: www.fontainebleau.com
RESTAURANTS
Make your Labor Day weekend reservations now at these new Miami restaurants.
Winker’s Diner-This day to night Miami Beach restaurant features an Art Deco-inspired style with classic leather booths, a 3D layered wall dedicated to the perfect Instagram photo, and a peninsula liquor bar. Enjoy breakfast all-day to deli sandwiches as well as traditional dishes including crispy chicken sandwich, lobster salads, Prime Rib, and their famous Cinnamon Roll French toast.
SFC Sushi Fly Chicken– This Toyko inspired restaurant, bar, and lounge brings the underground nightlife and diverse Asian cuisines. Specialty sushi rolls and fried chicken plates but let’s not forget the bespoke beverages including yuzu margaritas, lychee martinis, and Japanese whiskey cocktails.
Toothfairy bakery– Not quite a restaurant but if you have a sweet tooth, this retro-modern bakery is the place to be. Enjoy Cake Pop Candy Bars, Snickerdoodle cookies, or cotton-candy cones! This bakery is located in Miami Beach and it does offer reservations.
Photo Credit: Groot Hospitality
CRUISE, DANCE, & MORE
Booze Cruise– Join the party for a Hip Hop Club Booze Cruise on September 4, 2021. The 3 hour Miami Party cruise will kick off on Biscayne Bay with drink and food specials. Unlimited drink specials and a DJ will get you ready for the ultimate dance competition. There are 4 cruise times available.
SHOTS Miami– SHOTS first opened in 2012 because of the need for a different nightlife scene. The 7,000 square feet venue features unique drinks prepared by trained experts. This is an excellent late-night place to visit after dinner or your booze cruise!
WWE Monday Night Raw-Get up close and personal ringside on Monday,m September 6th at Monday Night Raw hosted by FTX Arena. Show begins at 7:30pm.
Photo Credit: discotech
Miami-Dade County Looking to Add a New City for the First Time in 16 Years
Credit:Miami-Dade County
It has been 16 years since Miami-Dade added a new city but that could change for Biscayne Gardens. Following a public decision, county commissioners are deciding today to utilize 5 square miles that border 4 northeast cities.
The next step in the approval process is for local voters to vote in the special election on November 2, 2021. If voters decide on the new city, Miami-Dade will have a new 35th ‘parish.’ The last was Cutler Bay which was founded in January 2005.
The 5 square miles is located near North of Northwest 167th Street, East of Northeast 18th Avenue, South of Northwest 128th Street, and West of Northwest 17th Avenue. The current neighborhood is called Biscayne Gardens and the area would keep that name. About 3% of the land is undeveloped with a quarter of the area is dedicated to traffic, communication, and utility.
There is still much room for growth. Included in the plans to form the city are 3 apartment complexes with 861 units, mega-church, and additional apartment complexes.
Biscayne Gardens would also include 3 parks which would include a community center with costs of $1 million with 20,000 square feet.
The Biscayne Gardens Municipal Advisory Committee was formed in September 2003 to look at whether the area could turn into a city. The committee later broke apart in In April 2012.
The area of Biscayne Gardens now has 35,000 residents with over 50% being registered to vote. If the city is formed, the special election would cost $94,000. This price the county would pay up front then the city would reimburse once established.
Although a strong opposition on the vote, we will know more after today’s meeting.
Developer for Ocean Terrace Project Seeks Expansion Approval
Photo Credit: Ocean Terrace Holdings
Plans that were originally approved in 2019 for the historic Ocean Terrace district are being revisited in hopes to expand the project located at 7409-49 Collins Avenue and 7400-50 Ocean Terrace.
The original approved plans included 78 hotel rooms that will be renovated through the historic Broadmoor and Ocean Surg hotels, 58 residential units, and 18,060 square feet of retail space.
The new plans, submitted by developer Ocean Terrace Holdings, would include 75 residential condo units that would range from 1,198 to 2,555 square feet options. In the revised plans, it includes 2 top-floor penthouses that range from 4,028 to 4,332 square feet of living space, each with a rooftop pool.
Photo Credit: Ocean Terrace Holdings
Hotel rooms would also increase to 127 with 55 of the units residing in the historic building. The rest of the units will reside in the new 11-story building that will feature a rooftop pool.
Photo Credit: Ocean Terrace Holdings
The retail space will include 3 pools and 17,474 square feet of space. The new construction will total 525,692 square feet including the parking garage. The original proposal was approved at 359,590.
Architect includes Revuelta Architecture Internation and RJ Heisenbottle Architects is in charge of the historic preservation design.
The Historic Preservation Board will be meeting on September 13 to consider these revised plans. These plans will also include an oceanfront public space. Once the plans are approved, the developer would like to begin construction immediately. The public space and condo tower construction would start in 2022.
Photo Credit: Ocean Terrace Holdings
Construction on Miami World Center ‘Jewel Box’ Begins
Photo Credit: Miami Worldcenter Associates
Miami Worldcenter is a 27-acre urban destination development that will bring new businesses, real estate opportunities, and most of all a new energy to downtown Miami. This site will be a unique blend of commercial and residential towers including Paramount Miami Worldcenter, Miami Worldtower, and Legacy Tower.
Construction for the signature “Jewel Box” in the middle of Miami Worldcenter will feature a retail building that will be located at 150 N.E. Eighth Street. The 2-story tower will boast 78,000 square feet of retail space with a rooftop terrace and public gathering space.
Photo Credit: Miami Worldcenter Associates
Developed by Miami-based Miami Worldcenter Associated and Los Angeles-based CIM Group. The Jewel Box will be designed by Coral Gables-based Nichols Brosch Wurst Wolfe & Associates.
Managing partner of Miami Worldcenter Associates stated, “The final elements of this world-class retail development plan are coming together, and the design and concept for the signature ‘Jewel Box’ element reflects the strong feedback we’ve received from brands from around the world and across South Florida.”
The jewel box will feature floor-to-ceiling glass that will reflect the outside elements that will create a jewel-like effect. Mixing the designs of a boutique retail space and diverse entertainment, the jewel box will be the “go-to” place for all Miami residences.
Construction for the jewel box is currently underway and the anticipated completion date is scheduled for the summer of 2022. Once the full Miami Worldcenter project is complete, the developers are estimating that the cost of the project is $4 billion.
The jewel box is a part of the 130,000 square feet of retail that is already under construction at the Miami Worldcenter with another 150,000 square feet already completed.
Russian Buyer Purchases MarinaBlue Condo with Cryptocurrency
Cryptocurrency has made headway this past year within the real estate market. To compete with multiple offers or to make offers more appealing, buyers have been utilizing different types of the digital currency.
The digital asset is not only being accepted for real estate transactions but for the purchase of goods and services as well. Miami nightclubs, retail shops, and airlines are starting to accept this form of payment. Other large chain retail stores including Overstock.com, Microsoft, and Home Depot are also on the crypto train.
Within the real estate market, many developers are beginning to accept crypto on their new construction towers. PMG was one of the first developers to begin accepting crypto on their new construction tower, E11EVEN Hotel & Residences. A penthouse at Arte Surfside was also recognized for being one of the largest cryptocurrency transactions ever.
Lucas Lechuga recently closed on a MarinaBlue unit #4803 to a buyer from Russia for $465,000. The buyer purchased the unit using cryptocurrency. The unit itself features 1 bedroom + den, 1.5 bathrooms that offered views of the ocean, downtown Miami, and Biscayne Bay. This unit boasts 10-foot ceilings with floor-to-ceiling glass windows and marble flooring throughout.
This unit is considered the second-highest price sale for a 1 bedroom ever at MarinaBlue.
Floor-to-ceiling Impact-resistant Sliding Glass Doors and Windows
9-foot Ceilings in Most Condos; 10-foot Ceilings starting on the 44th Floor; Lofts with 18-foot Ceilings
Penthouse Units with 20-foot ceilings
Full-size Stackable Washer and Dryers by Frigidaire
European-style Cabinetry and Stainless Steel Sink in Kitchen
Stainless Steel Refrigerator/Freezer, Microwave and Oven/Stove by Whirlpool
Master Bath Features Marble Floors and Double Vanity
Spacious Walk-in Closets
If you or someone you know have an interest in purchasing one of the units at MarinaBlue, or any information on the cryptocurrency process, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Luxury Travel Magazine Names Miami Beach One of the Best Beaches in the U.S.
According to Condé Nast Traveler, a luxury and lifestyle travel magazine, dubbed Miami Beach as one of the best beaches in the United States. Miami Beach stands next to three other beaches in Florida including; Grayton Beach State Park, Dunedin, and Sanibel Island.
The magazine stated, “The siren song of Miami’s South Beach is undeniable…beautiful people, flashy cars, Art Deco architecture: It’s all here.” Condé Nast Traveler highlights that Miami Beach is one of the popular and liveliest areas for tourists in Miami.
The magazine also states that the most touristy areas run parallel to Ocean Drive and locals tend to hang around the South of Fifth neighborhood. “But we say those famous white sands are worth bumping elbows with a few fellows,” according to Condé Nast Traveler.
About Miami Beach
It is no debate that Miami Beach does offer some of the most beautiful properties and beaches in the world. Situated on a barrier island, the coastal city is between the Atlantic Ocean and Biscayne Bay.
The Bass Museum of Art and the New World Symphony are both located in Miami Beach. Other options to visit include a cultural center called the Faena Forum. This cultural center hosts an array of events including; lectures, performances, and large-scale events. Miami Beach is also home to the largest art fair along the east coast.
Miami Beach also has some of the most luxurious condo developments in Miami. Faena House is a 47-unit ultra-luxury condominium tower located at 2901 Collins Avenue. The condos at Faena House are some of the most prized pieces of real estate in South Florida.
Ritz-Carlton Residences Miami Beach located at 4701 N. Merdian Avenue features 15 stand-alone villas comprised of 8 waterfront villas with private boat docks and 7 landside villas surrounded by lush, tropical landscaping. Each of the villas has its own private pool and an air-conditioned two-car garage. Ritz-Carlton Residences features 125 total units.
The lifestyle of Miami Beach is like no other. With its fabulous art and cultural options, luxury condominium buildings, and its vibrant nightlife, there are so many options for every visitor as well as a potential buyer.
Legacy Hotel & Residences Breaks Ground
Photo Credit: owpbrokers
The highly anticipated Legacy Hotel & Residences finally broke ground today at the development site located at 942 NE 1st Avenue in the heart of downtown Miami. In attendance was Ken Russell (City of Miami Commissioner), representatives of Royal Palm Companies, and Peggy Olin (Owp Property representative).
Also known as Legacy Miami Worldcenter, Legacy is one of the newest pre-construction residential towers located in Park West Miami. The luxury tower will rise 50 stories at 668 feet tall making it the second tallest tower at Miami Worldcener. This tower sold out of all the units prior to the groundbreaking and is the first development to sell out prior to construction.
This mixed-use development will feature 312 residential units, 262 luxury hotel rooms, a business center, medical office, retail space, and rooftop atrium with all of the luxury amenities a 5-star hotel could offer.
The residences will include studio to 2 bedroom floor plans with 368 to 964 square feet options. The units will be fully finished and furnished. One of the unique things about Legacy is that residents will be able to rent their units without any restrictions. This includes utilizing a short-term rental company, whether its the Legacy’s rental program, Airbnb, or VRBO.
CONSTRUCTION INFORMATION
DEVELOPER: ROYAL PALM COMPANIES
ARCHITECT: KOBI KARP
DESIGNER: ID & DESIGN INTERNATIONAL
HOTEL AREAS (GROUND LEVEL AND PEDESTAL)
SPECTACULAR 40 FT. HIGH LOBBY WITH GLASS ELEVATORS
SIGNATURE INTERNATIONAL RESTAURANT
FULL-SERVICE CAFÉ WITH LOCALLY SOURCED BAKED GOODS
FIRST OF ITS KIND INTERNATIONAL BUSINESS LOUNGE
GRAND BALLROOM AND EVENT SPACES
SHUL WITH KOSHER KITCHEN
ONE ACRE POOL DECK (9TH FLOOR)
LARGEST DOWNTOWN HOTEL POOL DECK
MULTIPLE WATER FEATURES AND FULL-SERVICE POOL
SIGNATURE RESTAURANT SERVING ALL MEALS
BAR AND LOUNGE
LUXURIOUS DECK FURNITURE
LUSH LANDSCAPING
PLUSH CABANAS
ROOFTOP ATRIUM AND EVENT SPACE
DECADENT LOUNGE WITH SEATING AMIDST GARDENS
FULL-SERVICE BAR FOR INDOOR AND OUTDOOR SEATING
CANTILEVERED, INFINITY-EDGE, SINGAPORE INSPIRED POOL 500-FEET IN THE AIR
ROOFTOP SUNDECK WITH ENDLESS DOWNTOWN VIEWS
PLENTIFUL EVENT SPACE
CENTER FOR HEALTH & PERFORMANCE
50,000 SQ FT MEDICAL CLINIC WITH SUITES FOR HEALTH AND PERFORMANCE
DIAGNOSTICS AND TECHNOLOGY
VIP HEALTH CLUB WITH OPERATING ROOMS AND PRIVATE VIP ENTRANCE
ADVANCED PERFORMANCE TESTING CENTER
WELLNESS (SOME COSTS MAY APPLY BASED ON USAGE AND PROCEDURES)
MEDICAL FITNESS WITH PRESCRIPTION FOR HEALTH
VITALITY SPA
FITNESS STUDIOS
SPORTS MEDICINE/PHYSICAL THERAPY
EUROPEAN STYLED STEAM ROOM
RELAXING SAUNA
ALTITUDE TRAINING ROOM
CRYOTHERAPY CHAMBERS
JUICE/BEVERAGE BAR
IV NUTRITION THERAPY
All but 2 of the 312 units have sold for a combined value of $212 million. Average prices range between $350,000 to $2 million. Royal Palms closed on the construction loan in May 2021. Legacy Hotel & Residences is expected to be completed by 2024.
