Grab Something Green and Celebrate St. Patrick’s Day in Miami – 2021

St. Patrick’s Day may be a little different for many this year but there are restaurants and bars in Miami that are still celebrating. Check out the list below for drink specials, bands, and all things green!

• The Taurus: Drink specials with St. Patrick’s Day-themed cocktails for $8, Guinness for $5, and Irish whiskey for $5. These specials are from 5pm until midnight.
• Tobacco Road: Living Music and drink specials include $5 Green Pabst Blue Ribbon, $6 Irish coffees, $7 Irish Car Bombs and $5 Irish whiskey.
• The Wharf: Tonight features live music and games! Food by Spris Artisan Pizza, La Santa Taqueria, and Mojo Donuts! Free Guinness every time you buy a shot of Jameson.
• Calle 23 Miami: Beer and Irish whiskey shot specials at $10 each, Guinness for $7 and Irish Mules for $10.
• Swarm in Wynwood: This festive street party is free and features live DJ, drink specials and games!
• Sunset Skyline Happy Hour Cruise: Departing from Biscayne Bay, this 90 minute happy hour cruise takes you past Star Island, Hibiscus Island, Palm Island, Fischer Island plus the famous Venetian Islands, all while drinking green beer!

Block Capital Group and Kushner Companies LLC Breaks Ground on Wynwood Neighborhood Project

After obtaining an $80 million construction loan, Kushner Companies LLC. and Block Capital Group broke ground on March 11, 2021, on a mixed-use project in the Wynwood neighborhood in Miami.

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 courtyard. There will be one-five and one-eight story buildings located at 129 N.W. 26th Street and 127 N.W. 27th Street, giving it the name WYND 27 and WYND 28.

According to Nicole Kushner Meye, Principal at Kushner, “This project is poised to mesh into the unparalleled Wynwood context and culture, while at the same time expand the vision and limits of this neighborhood with a tremendous addition of creative office, retail, and public space.”

Designer for this project is Arquitectonica who has also designed Inter Miami CF Stadium and Miami Freedom Park, Mr. C Miami – Coconut Grove, Brickell City Centre, 500 Brickell, and SLS Brickell Hotel & Residences.

There has been no reported completion date for the construction but we will update this article as the construction and time-line continues.

South Florida Welcomes the 69th Miss Universe Pageant at the Seminole Hard Rock Hotel and Casino

The last time the Miss Universe Pageant was in South Florida was 2015 at the Florida International University. This year the pageant will be held at the Seminole Hard Rock Hotel & Casino Hollywood on May 16 and we can’t wait to see what this year’s pageant has in store!

Miss Universe was last held on December 8, 2019 at the Tyler Perry Studios in Atlanta and South Africa’s Zozibini Tunzi was crowned. Because of the pandemic, the 2020 pageant was cancelled.

The President of the Miss Universe Organization, Paula Schugart, stated that the event will follow CDC guidelines and that they have spent the past year working on ways to make the pageant as safe as possible including masks mandates, Plexiglass separating contestants and judges. Schugart also stated that “Our goal is to create a safe and engaging place for users to connect over interests and passions.”

It is unclear who the host will be for the 2021 pageant. The pageant will be available for viewing on the Telemundo Network. We will continuously update this article as we learn more information on the Miss Universe Pageant 2021.

The Crown Jewel of 900 Biscayne Bay – Trophy Penthouse For Sale

The Miami Condo Investments Team is pleased to announce our newest listing – Penthouse 6107 at 900 Biscayne Bay. It’s the crown jewel of the building…by far the nicest residence I’ve ever seen there.

Penthouse 6107 is a gut-renovated masterpiece with over $1.5 million spent in renovations, furnishings, and electronics; 3,500+ square feet of living space; 3 bedrooms + media room, 4.5 bathrooms; and 3 terraces totaling 1,000 square feet. It offers sweeping views of the Atlantic Ocean, Biscayne Bay, cruise ships, sunrise, and Miami Beach skyline from the 61st floor. Since being renovated, Penthouse 6107 has NEVER BEEN RENTED or even lived in.

Enjoy a home cinema experience like no other with a 100-inch Samsung smart TV, Dolby Atmos surround sound, and 40 TB Kaleidescape system for true 4K Ultra HD playback.

Penthouse 6107 features brand new designer furnishings and finishes with no expense spared; a Savant Pro smart home system; linear diffusers throughout; custom Italian kitchen by Aran Cucina; 36-inch by 36-inch marble floors in the main living areas; smart beds; Toto toilets; and a master bathroom sanctuary with Moroccan tile, steam room, jetted tub, double vanity, and separate woman’s makeup vanity.

This one has “Record-Breaking Sale” written all over it. Asking $3.6 million.

A First Look at a Half-Floor Residence at One Thousand Museum

In case you hadn’t already heard, closings of residential units at One Thousand Museum started two months ago. In fact, the first closing took place on July 15, 2019. According to public records, the developer of One Thousand Museum has since closed 41 units. One Thousand Museum has a total of 84 condo residences, comprised of 10 full-floor residences, 70 half-floor residences, and 4 duplex townhouses. Keep in mind, there’s often a lag (sometimes up to a month) between when closings take place and when they actually appear on the county website.

This past week, I had the opportunity to not only get a tour of One Thousand Museum but also of unit 4901 – a half-floor residence that my broker, Dora Puig, recently listed for sale. It’s a 4 bedroom, 5.5 bath condo residence with 4,876 interior square feet plus 733 square feet of terrace. It occupies the entire southern half of the building on the 49th floor. Of special note, the 49th floor is the highest floor that the half-floor-residences exist at One Thousand Museum (the half-floor residences at One Thousand Museum are located on floors 15 to 49 as shown in the image below). In other words, if you desire the best possible view at One Thousand Museum, but don’t have the $15M+ budget that the full-floor residences command, the 49th floor is as good as it gets.

Additionally, of the half-floor residences in the building, the 49th floor is the ONLY floor that has 12-foot high ceilings. All other floors of One Thousand Museum with half-floor residences (floors 15 to 48) have only 10-foot high ceilings. And trust me, those extra two feet of ceiling height make a HUGE difference! Once you see in person 12-foot high ceilings, you won’t want to settle for a measly 10, especially once you discover that the price of unit 4901 is in line or lower than the half-floor residences located on the lower floors that don’t have the extra two feet of ceiling height. At an asking price of $6.5 million, unit 4901 at One Thousand Museum is very competitively priced.

Below are the photos that I took earlier this week of unit 4901 at One Thousand Museum. Keep in mind, I took these with my cellphone, so they’re not the greatest of photos, but they should at least give you an idea of the finishes, views, and size of each room. Note: all units at One Thousand Museum are delivered by the developer completely finished.

And below is a photo I took of the lobby at One Thousand Museum along with a photo I took of the exterior of the building from across the street. I must admit, I visited One Thousand Museum a bit skeptical but left there blown away. The developers of One Thousand Museum did an amazing job delivering on Zaha Hadid’s vision. One Thousand Museum is without a doubt THE best condo development that exists in Miami. The neighborhood may not be the best, but the building itself is. However, give the neighborhood five years. By then, it’ll be night and day to what you find now. The only thing lacking from the Park West neighborhood is true walkability…but that will change in coming years once Miami Worldcenter is delivered. Beginning next year, Miami Worldcenter will bring to the neighborhood over 300,000 square feet of retail. That’s the missing piece!

The Ultimate Bachelor Pad in Miami – a Two-Story Penthouse at Reach Brickell City Centre w/ Rooftop Pool, Jacuzzi, and Summer Kitchen – Asking $6.69M

If you’re in search of the ultimate bachelor pad in Miami, look no further than PH4204 at Reach Brickell City Centre. It’s a 2-story penthouse with two huge, rooftop terraces – one located off the dining room with a pool and summer kitchen and the other off the master bedroom with a rooftop Jacuzzi.

Reach PH4204 includes 4 bedrooms, 5.5 bathrooms, a laundry room, and den with 3,933 interior square feet plus two terraces and three balconies totaling an additional 3,391 square feet (see Reach PH4204 floor plan). The asking price of this one-of-a-kind penthouse is $6.69M. It is THE ONLY two-story penthouse in the entire building at Reach Brickell City Centre.

Currently, the developer is offering a 10 percent cash rebate plus two years of free condo dues. After applying the cash rebate at closing, the price of Reach PH4204 would be $6,021,000. And the two years of free condo dues would amount to an additional savings of $75,096 (the condo dues for Reach PH4204 are $3,129 per month).

The Rooftop Pool

The rooftop terrace and pool offer breathtaking views of Brickell, Downtown Miami, the Miami River, and Biscayne Bay. A summer kitchen (which isn’t shown in the photos below) is also located on the rooftop terrace off the dining room.

The Master Bedroom Suite and Rooftop Jacuzzi

The master bedroom, master bathroom, and even the walk-in closet all offer beautiful city and sunset views while the rooftop terrace located off the master bedroom faces north offering vistas of the city, Miami River, and Biscayne Bay.

The Rest of the Penthouse

As you walk into Reach PH4204, you are greeted by a grand wooden staircase to your left and open city views straight ahead. The dining room, kitchen, and large rooftop terrace with summer kitchen and pool are located to your right. On the opposite end of the first floor are the second and third bedrooms and laundry room. Along with the master bedroom suite and rooftop terrace, the second floor has a den and fourth bedroom.

Brickell City Centre’s Largest Penthouse – Asking $6,975,000

Introducing PH4201 at Rise – Brickell City Centre’s largest penthouse residence. Rise PH4201 is a 5-bedroom, 6.5 bath flow-through unit with 4,754 interior square feet plus three separate balconies totaling 1,035 square feet of exterior space (see Rise PH4201 floor plan). PH4201 also has 12-foot-4-inch high ceilings with floor-to-ceiling glass windows; Bosch kitchen appliances; a large master bathroom with city and water views, a pedestal tub, and rainfall shower; a family room; maid’s quarters; and laundry room.

PH4201 is an L-shaped residence which occupies the entire southwest corner of Rise and enjoys views of Biscayne Bay, the Brickell skyline, and Coconut Grove along with breathtaking views of the sunset.

The developer is asking $6,975,000 for PH4201 at Rise but, keep in mind, that’s before applying the 10 percent cash rebate and two years of free condo fees. After applying the cash rebate at closing, the price is $6,277,500. And the two years of free condo fees amounts to an additional savings of $90,312 (the condo fees for Rise PH4201 are $3,763 per month).

Located in the heart of Brickell, Rise PH4201 is a very spacious condo residence that is ideal for a large family. Enjoy the photos of it below. If you have any questions or would like to schedule an in-person showing of Rise PH4201, please contact Lucas Lechuga at [email protected].

The Definitive Guide to Renting a Condo or Apartment in Miami, Florida: The Process, Deposits, Fees, Requirements, and More

For those who have never rented an apartment or condo in Miami, the process may seem daunting at first, but with the right Realtor to assist you every step of the way, it’s actually quite easy. It can seem especially challenging to renters moving from other cities where different procedures and/or requirements are expected. For example:

• In New York City, the tenant renting the condo generally pays the real estate commission, while in Miami, the real estate commission is covered by the landlord so there is no cost to the tenant whatsoever.
• In many U.S. cities, first month’s rent plus a one-month security deposit is generally all that is required to rent a condo. In Miami, on the other hand, first AND last months’ rent paid upfront along with a one-month security deposit is the norm when leasing a condo. However, most apartment buildings have lower deposit requirements (The Miami Condo Investments Team would be happy to recommend some).

Despite these subtle differences, the process of renting a condo or apartment in Miami should go smoothly. While there are several steps involved, the entire process, from start to finish, should take no more than two weeks to complete when renting a condo and can take as little as a day when leasing an apartment. That, of course, begs the question:

What is the difference between an apartment and condo?

In certain parts of the world, the words “apartment” and “condo” (short for “condominium”) and even “flat” are used interchangeably to mean a place of dwelling within a communal building. In the United States, however, the word “apartment” or “rental building” is generally reserved for a residential unit that can ONLY be leased (i.e. they cannot be purchased). An apartment complex is generally owned by a large multi-family portfolio company or in rare cases one individual, but either way, the entire building and all of the units are jointly owned and managed. Monthly rent gets paid to the management office which oversees the entire community. On the flip side, condos in a condo development are owned by individual owners or business entities and each may have different requirements for renting with them.

The Process for renting a condo in Miami, Florida

Which documents should I have ready in order to submit an offer to lease a condo in Miami?

• Photo ID
• Proof of funds (employment offer letter or 3 most recent pay stubs)
• Recent credit report (with credit score included is best)
  • Why do landlords need this if building’s management office will pull credit? This is because some Landlords go through their own approval process that mirrors the Association approval process and is conducted first to see if they will agree to the Lease with you. Also, most buildings do not provide the screening report to the landlord, so if the landlord wants to have that information, he/she must request it separately.

Fees, Deposits, and Requirements

When renting an unfurnished condo in Miami, an amount equal to three months’ rent plus building fees would generally be required. The three months’ rent is represented by first and last months’ rent plus a one-month security deposit. But some buildings also require a common areas deposit which then increases the required deposits to four months’ rent, so be sure to ask your Realtor if this is the case with the unit(s) that you are interested in.

When renting a furnished condo in Miami, an amount equal to three or four months’ rent plus building fees would generally be required. In the instance where an amount equal to three months’ rent would be required, that amount would usually be represented by first month’s rent plus a security deposit equal to two months’ rent. In the instance where an amount equal to four months’ rent would be required, that amount would usually be represented by first and last months’ rent plus a security deposit equal to two months’ rent (one for damage to the unit, the other for damage to the common areas).

• Common areas deposit – condominium association may have a common areas deposit to secure against damage to the common areas/building amenities; generally it is equal to one-month’s rent but can be a lower flat fee depending on the building
• Move-in/move-out fee
• Elevator Deposit
• Fobs, parking decal, etc.

When renting a condo in Miami, who pays the monthly condominium association dues? The landlord or tenant?

When renting condo in Miami, the monthly condo dues (sometimes referred to as HOA dues or maintenance fees) are paid by the landlord. These dues almost always cover the following utilities: water, sewer, and trash removal. In the newer building, oftentimes, the condo dues will also cover services such as basic cable TV and/or internet.

Will I need a co-signer/guarantor?

It’s important to be upfront and honest with your Realtor. It is very easy to add that a co-signer/guarantor to a lease, and we can go over how that changes the income and other requirements for you.

Can I sub-lease the apartment/condo? Can I rent it out on Airbnb.com, VRBO.com, etc.?

The answer to this is almost always no in Miami. If you own a condo you can take advantage of Airbnb and other short-term rental options to increase your rental income, but as a tenant it is very rare that you can do this.

Do I need to be a US citizen in order to rent a condo or apartment in Miami?

No not at all, but background checks can take a little longer to process for foreign nationals so that may mean that your Association approval takes longer than the standard 2 weeks.

I see that the condo is offered furnished. Would it be possible for me to rent it unfurnished? Oh, and because I don’t want the furniture, I want to pay less.

Again, the answer to this is almost always no. If you don’t want the furniture for a particular unit, that means the Owner would have to pay to store it elsewhere. That would actually raise their costs associated with the Lease, so that would not be an opportunity to lower yours.

Miami is such a big city! How will I ever figure out in which neighborhood and condo development to live?

• Miami Condo Investments (www.miamicondoinvestments.com)
  • Condo Rankings
  • Building Profile pages
  • Condos For Rent
• Word-of-mouth
• Social media
• Call us and have a Miami Condo Investments agent assigned to you. We are deeply rooted in the Miami community and know the differences in the neighborhoods from a local’s perspective. We can go over everything with you by phone as well as providing in-person neighborhood tours.

My offer was accepted? Now what?

Once your offer has been accepted, a lease would be prepared (usually by the agent representing the landlord) and then executed by all parties. In most cases, the landlord(s) would review and sign first and then followed by the tenant(s). The date on which the last party executes the lease is called the “Effective Date” or “Contract Date”. Once the lease has been executed by all parties, the lease is considered to be “fully executed”.

With a fully executed lease in-hand, the next step would be to apply with the building’s management office. The application process and requirements vary from building to building. At this point, if your real estate agent has not provided you with the application instructions, be sure to request them from him/her or directly from the building’s management office.

Some condo developments have an application that must be completed by hand while others are completed online. In still other cases, the management offices use a combination of the two with both written and online aspects of the lease application process.

• Tenant Evaluation is a third-party screening company that most condominium associations use to screen prospective tenants (and, in some cases, buyers as well). Tenant Evaluation does not approve or reject applicants. Although they may make a recommendation based on the results of the screening, the final decision is up to building’s management office or condo association board.
• Condo association approval – may only meet on certain days of the week or month to give final approval to tenants waiting to move into the building

What should I do once I’ve been approved by the condo association/management office?

• Schedule your orientation
• Reserve the elevator
• Schedule utility services to be activated by the date of your walk-through
  • FPL.com (electricity)
  • Cable, internet, etc. (these usually need to be scheduled after the walk-through)

What should I bring to the walk-through?

All remaining checks for move-in (your Realtor will provide a breakdown of exactly what you need but remember these must be either cashier’s checks or money orders)

What should I look out for at the walk-through?

Your Realtor will look for and point out any issues as well as ensuring that they are rectified but typically:

• Is the unit completely clean? If not request that it be professionally cleaned before move-in;
• Do all of the appliances work? Turn them on/run them and check;
• Pull all of the blinds down to ensure that they run smoothly on their tracks and that there are no marks or stains on them.
• Make sure that you and/or your Realtor take pictures and/or video to document the condition of the property as of the day you take possession of it.

During the lease term, who do I contact for repairs?

In an apartment or rental building, there will be an online app that allows you to submit service requests 24/7.

In a condo building, your landlord or landlord’s management company is your point of contact for all repairs meeting the minimum repair amount. Ask if the landlord has a warranty on the appliances and, if so, what is the number to call for that?

After the lease expires, what do I need to do to assure the return of my deposit?

Be sure to reference your lease. The standard Florida lease allows for normal wear and tear when it comes to renting a condo in Florida. However, if the lease was drafted by the landlord’s attorney or if an addendum was attached to the lease, different provisions may apply. In some cases, landlords may require that the property be returned to them in the same condition that it was delivered to the tenant at the onset of the lease term.

When can I expect to receive my security deposit back from the landlord?

By Florida law, the landlord has 15 days to return your deposit if there aren’t any deductions for damages. If the landlord decides to impose a claim for damages, written notice must be provided to the tenant by certified mail along with the landlord’s reason for imposing the claim. If the tenant does not dispute the claim (within 15 days of receiving the notice), the landlord must return the balance of the security deposit within 30 days after the notice was received.

If applicable, how long after move out should I expect to receive my common areas deposit back from the building/condo association?

Assuming there aren’t any deductions for damages, you can usually expect your common areas deposit returned back to you a week or two after you have moved out of the building and have contacted the building’s management office to formally request the return of your deposit.

The process for renting an apartment in Miami, Florida

What are the advantages to renting an apartment versus a condo?

Honestly, when it comes to renting there are so many differences and they are outlined above. The best option is to have your Realtor take you to the apartment buildings that they recommend. Chances are they have multiple clients who already live there and they are recommending them from that background as well as the fact that these buildings are geared towards rentals. They are well managed and organized and offer an easier and better life for tenants. Condos have the advantage of having more units so sometimes they are the best option in the area just based on the volume of availability. Likely your Realtor will show you both options and you will decide based on all of the criteria which suits you best.

What if you need to break your lease when renting an apartment?

These are really the same in a condo or an apartment building. Expect to pay a 2-month penalty for breaking the lease early. If that’s worth it to you then it’s on to bigger and better things!

Should I use a Realtor? Is it beneficial for me to use a Realtor or would I be better off without one?

If the landlord has the property listed with a Realtor, I suggest you use your own Realtor, one who would represent you and negotiate with your best interests in mind. Some people looking to rent a condo think that if they don’t use a Realtor, they’ll be able to negotiate a better price because the landlord won’t have to pay half the commission. However, this thinking is flawed. In cases where a tenant does not use their own Realtor, the listing agent generally keeps both sides of the commission. So, not only did you not save yourself some money, you likely overpaid because you had someone negotiating in the best interests of the landlord, not your own.

Do I need multiple Realtors or will one suffice?

In Miami, all Realtors have access to the Multiple Listing Service (MLS). The MLS serves as a centralized database from which Realtors can search on behalf of their customers who are looking to buy or rent a property. Because all Realtors have access to the same listings, there is no rhyme or reason to use more than one agent. Realtors also have a deep knowledge of Apartment buildings and can work with you through that process as well.

Vizcayne Condominium Associations Awarded Settlement for Construction Defects

It appears that there is a light at the end of the tunnel for Vizcayne condominiums. According to Law.com, this past May, Vizcayne North Tower Association and Vizcayne Master Association were awarded $3,069,251 and $646,699, respectively. In November 2016, the aggrieved parties, citing a laundry list of construction defects, had filed a 184-page complaint against various construction companies. Over a year and a half after the initial filing date, and shortly before going to trial, the settlements were reached.

With the worst now behind Vizcayne, it will be interesting to see how quickly real estate prices improve for condos in the two towers. The litigation had been a big black cloud over the development, making it near-impossible to secure financing for condos there. With the cloud now lifted, lenders will likely be more open to providing financing for qualified buyers.