Highest Penthouse at Paramount Miami Worldcenter is Now For Sale at $10.71 Million
At the current price of $10.71 million, the tallest penthouse in RPC’s Paramount Miami Worldcenter is now for sale.
With sweeping views of Miami from the 57th and 58th floors of the tower, Penthouse 5700 has 5,225 square feet spanning throughout four bedrooms, five and a half bathrooms, and a den that can be utilized as either a home office or a library in the unit. An open-style chef’s kitchen, floor-to-ceiling windows, double-height ceilings, and plenty of space for entertaining are included in the amenities of the property.
Penthouse 5700 will have access to the building’s 46 amenity spaces, which are the most residential amenities in the world and include the nation’s first outdoor soccer field in a high-rise residential building, resort-style swimming pools, tennis courts, a Tai Chi deck, and a boxing studio.
The purchaser will be residing among celebrities thanks to Paramount’s comprehensive array of sporting amenities, which has drawn a wide range of professional athletes.
Located in Miami Worldcenter, an entire city within a city and the second largest master-planned urban project in the country, Paramount offers walkable access to the best restaurants, cultural and entertainment venues in town.
The 58-story Paramount Miami Worldcenter, which was completed in August 2019, has 569 condo homes with studio, one, two, and three-bedroom floor layouts, as well as penthouses.
The Paramount Miami Worldcenter’s ordinary tower residences have interior square footage of 1,294 to 2,376 plus balconies, whilst its penthouse residences have interior square footage of 3,509 to 6,000 plus balconies.
The typical condo homes at Paramount Miami Worldcenter have either 11-foot- or 14-foot-deep terraces, private elevators, and 10-foot high ceilings with floor-to-ceiling glass windows.
Eight magnificent bi-level penthouses at Paramount Miami Worldcenter include 20-foot high ceilings, floor to ceiling glass windows, and panoramic views of the city and lagoon.
Elkus Manfredi Architects created Paramount Miami Worldcenter, which was created by Paramount Ventures. ID & Design International created the lobby and common areas.
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 lucas@miamicondoinvestments.com or by phone at (786)247-6332.
Groundbreaking Officially Scheduled for District 225
Developers for one of the newest pre-construction towers in downtown Miami, District 225, have officially scheduled the groundbreaking for the third quarter of this year.
The Related Group along with ROVR Development and BH Group have been working tirelessly on the sales ever since the launch of the tower in 2021. Since then the development has 100% sold out.
District 225 will rise 37 stories tall and be built without a parking garage and will also be one of the first tower with direct listings on Airbnb.
The buyers for the tower included domestic transplants, remote workers, and domestic transplants as well as 50% of the buyers coming from South America.
According to Jon Paul Pérez, President of Related, “We launched District 225 as an experiment of sorts. And while we knew this unique product would resonate with buyers, the demand has surpassed even our most optimistic projections. Related has long been at the forefront of trends, and we are proud to once again be at the cutting-edge of the market.”
What makes this project unique is its home-sharing capabilities as well as its resort-style amenities. Siegler Suarez Architects partnered with Meshberg Group will be responsible for the design.
District 225 will total 343 unit spanning over 288,400 square feet with studios to 2 bedroom floor plans. Studio pricing will begin around $350,000 up to $700,000 for the 2 bedroom floor-plans. There will also be 2,297 square feet of commercial space located on the main floor.
District 225 Amenities
Rooftop pool
Fitness center
Indoor/outdoor basketball court
Racquetball court
Rock-climbing wall
Yoga/spinning studio
Coworking spaces
Lounge with billiard tables
Summer kitchen
Residence Amenities
Views of Biscayne Bay and Miami skyline
Fully finished and furnished studios, one-, and two-bedroom residences
9.8-foot-high ceilings
Smart-home technology experience for seamless personalization with the touch of a button
Interiors designed by award-winning interior design firm Meshberg Design
Fully built-out closets in all residences curated by Meshberg Design
Includes integrated audio, video, window treatment, and lighting systems
Equipped with a contemporary lighting package, including recessed lighting, dimmers, and lighting control
Built-in, top-of-the-line washer and dryer
Flooring selections included with specifications recommended by Meshberg Design
Pre-wired for high-speed communications and data connection
Kitchens featuring custom Italian cabinetry curated by Meshberg Design
Smeg appliance package including an integrated, paneled microwave; dishwasher; built-in convection oven; and refrigerator/freezer
Master baths featuring rainfall showerhead and custom Italian vanities
Dornbracht and Duravit bathroom fixtures, features, and accessories
The building will be professionally managed by Atlantic & Pacific, which will have staff educated in all elements of Airbnb hosting, including listing, marketing, maintenance, and cleaning.
20 Story Tower Proposed in North Miami.
Seventh Ave Group LLC has recently proposed a new 20-story tower in North Miami located just west of I-95. This property expands 1.11 acres over 12041 and 12065 N.W. Seventh Ave. as well last 550 and 654 N.W. 121 St.
The proposed tower, Emblem tower will be reviewed by the city’s Planning Commission on April 5, 2022. According to the developer’s attorney, Steven Wernick, this project would be the first major development in North Miami’s new planned corridor district for the area.
Wernick also stated, “This area between Seventh Avenue and I-95 now has a hodgepodge of industrial and auto repair shops and they want to activate that area and bring in new tax revenue for the city. The city has been very positive to work with.”
The developer has owned the property since 2019 and originally purchased it for $3.23 million. There is an auto repair shop and an additional retail store currently on the site.
The estimated cost for the development is projected at $53 million. Units at Emblem Tower would range from 642 square feet to 1,010 square feet with studio to 2 bedroom floor plans.
Tower Features:
20 stories
139 apartments
27 studios
64 one-bedrooms
48 two bedrooms
9.989 square feet of commercial space
235 parking spaces (4 story parking garage)
Architect: Frankel Benayoun
Amenities:
Pool deck on top of the 4-story parking garage
Gym
Function room
Bocce ball court
Running track
Grilling areas
Playground
Seventh Ave Group LLC is listed as the developer but the company is an affiliate of Blue Road, a Miami-based development and investment company.
St. Regis Residences Miami Releases Tower Amenities and Residence Features
In December 2021, developers, The Related Group and Integra Investments announced the newest twin condominium towers, the St. Regis Residences Miami. Since then, little information about the project was released but today the tower amenities and residence features are officially out and they are impressive!
On a beachfront affordable housing site at on 1809 Brickell Avenue, the St. Regis Residences will rise 47 and 48 stories tall. The site itself will span over 3.16 acres with over 50,000 square feet of amenities.
Tower Amenities
40,000 square feet of amenity space
On-premises ground floor, fine dining restaurant
Exclusive beach club access
Park-like grounds and lush terraces
State of the art media room
Business center with coffee bar and conference rooms
Children’s entertainment room
Teen video game lounge
Programmable golf simulator
Salon equipped for all beauty services
Pet spa, grooming and dog walking services
Private, secure climate controlled storage
Private marina
Fully equipped fitness center
Relaxation and juice bar
Indoor lap pool and cold plunge pool
Pilates and yoga studio
Salt spa room
Dual saunas and steam rooms
State of the art treatment room
Bayfront infinity pool and whirlpool with private cabanas
Poolside bar and cafe
Bayfront garden with seating area
St. Regis Butler service and in-room dining
St. Regis housekeeping services
St. Regis global membership privileges
31st Floor Sky Lounge
Double-height bar and lounge with water views
Signature St. Regis Cognac Room
Traditional St. Regis Tea Room
Billiards room
Catering Kitchen
Technologies
Keyless residential entry
Smart home climate and lighting control systems
State of the art fiber optic WI-FI service throughout residences and amenities
Easy to use St. Regis residents-only app
The luxury units are expected to range from 1,300 to 7,000 square feet with prices starting at $2 million with 354 available units.
The Residences
Private elevator and entry foyer to each residence
Double door entry in select residences
11 foot ceilings with integrated linear diffusers in living areas
Custom European marble flooring throughout
European solid wood doorways
All homes feature a powder room and laundry room
Integrated smart home technology
Kitchens
Gourmet kitchen with custom Italian cabinetry designed by Rockwell Group
Marble countertops and backsplashes
Fully-integrated Sub-Zero and Wolf appliance packages, including:
Paneled refrigerator
Paneled freezer
Full-height wine refrigerator
Convection oven
Steam oven
Microwave
Dornbracht fixtures
Primary Suites and Bathrooms
Oversized walk-in closets
Midnight bar and butler’s pantry
Split marble top vanities with Dornbracht fixtures
Oversized marble showers and free-standing bathtubs
Private water closets with Toto toilets
The same architect who designed 220 Central Park South and 30 Park Place in New York will be the designer for this twin tower 354 unit development, Rober A.M Stern Architects. The interiors will be designed by the Rockwell Group, a New York-based design firm that is also responsible for NEMA and Treehouse Hotel.
Related and Integra expect a $2 billion sellout once the St. Regis Residences have been completed. The sales center is expected to launch in 2022 simultaneously with the sales. The ground breaking is expected to occur in 3rd quarter of 2022.
ROVR Development and Related Plan to Build 48 Story Tower in Downtown Miami- College Station
The Related Group is at it again with another tower proposed in downtown Miami. Along with the Miami Parking Authority, The Related Group, and ROVR Development are proposing to replace a downtown Miami parking garage with a 48-story development.
On Feb. 2, the Miami Off-Street Parking Board, or MPA, will vote on a 99-year lease and development agreement for the College Station Garage at 190 N.E. Third Street which is very close to Miami Dade College.
When the MPA received an unsolicited proposal for the property in July 2021, the process began. It solicited public bids for the property and received bids from College Station Partners LLC, a joint venture with The Related Group and ROVR Development, as well as Terra of Miami. On January 19, an MPA review committee gave College Station Partners’ bid a higher grade for the development.
The College Station project would include 1.88 million square feet of space and include 1,200 residences, 8,214 square feet of retail space, 33,865 square feet of public service space, 30,000 square feet of amenities, and 1,357 parking spots.
The completed facility would contain the same number of public parking spots as the present garage, which will be demolished. The MPA would own these spaces.
The developer stated that 20% of the units would be affordable housing for seniors earning up to 50% of the local median income, while the other 15% would be worker housing for those earning up to 140% of the area median income. Miami’s current median family income is $39,000.
According to the proposal, the public service space might be used for a fire station or an urgent care clinic to support the downtown’s fast-rising population, including a not-for-profit art’s center.
The units would range from 360 to 1,310 square feet in size. There would be 138 studio apartments, 636 one-bedroom apartments, 354 two-bedroom apartments, and 72 three-bedroom apartments.
The lease is expected to be signed in the first quarter of 2023, taking up to 60 months to construct. The application said that the developers would have to establish alternate parking arrangements for tenants of the adjoining Downtown Lofts I and II condos, which would use this garage for parking, during the construction time.
According to the lease’s proposed financial terms, College Station Partners would pay the MPA $500,000 upfront, about $2 million per year during construction to compensate for missed parking revenue and 10% of the project’s net cash flows for rent following completion. According to the developers, this would equate to a $1.27 billion economic gain to the MPA over the life of the 99-year lease, not including the value of the new public parking garage.
Dezer Development Plans to Launch Sales for Bentley Residences this Month
Following the completion of the $10 million oceanfront sales center, Dezer Development plans to begin sales of Bentley Residences this year. The sales center and site located in Sunny Isles Beach features a full model unit for potential buyers.
Bentley Residences will be located at 18401 Collins Avenue and will be considered the world’s first Bentley-branded residential building. According to the Developer, once sales launch, they plan for a $1.2 billion sellout.
Seeking to capitalize on the region’s high demand for residential real estate, developers have been hurrying to begin sales of new condo buildings around South Florida. This was one of the driving factors to get the sales launched for Bentley Residences
Dezer plans to open the sales center in two phases, one at the end of January 2022 and the second phase in March 2022. The 12,000-square-foot sales center, which will be built on the site of the former Armani/Casa Residences sales gallery, at 18325 Collins Avenue, will contain a 6,000-square-foot model of a Bentley unit, a broker’s lounge, and a theater for presentations.
According to a press release, a life-sized Bentley sculpture will be displayed outside of the sales gallery before being relocated to the Bentley Residences site after completion of the tower.
The project itself will rise 60 stories tall at 749 feet. The tower will feature 216 luxury condos with in-unit garages and some units showcasing large pools on the balconies. Pricing for units will range from $3.9 million to $6 million for water-facing units. Ocean-facing units will range from $5.5 million to $7.5 million while penthouses will be in the $20 million range.
Units on the east side will have four-car garages, while those on the west side will have three-car garages. With its patterned glass, the Sunny Isles structure will be “unmistakably Bentley,” according to Dezer.
Designed by Sieger Suarez Architects, the 3.6-acre property will feature a gym, pool, spa, theater, restaurant, lounge, bar, cabanas, and gardens.
Construction is set to begin in summer 2022 with completion in 2026.
Notable Real Estate Developers Purchase the White House Inn Property in North Miami
Teddy Sagi and Jorge Pérez, Miami’s most notable real estate investors, have chosen their second South Florida property to invest in: the White House Inn at the gateway to North Miami. What once was a motel that opened its doors in 1969 later became a dilapidated building that saw many problems throughout the years, which later closed in 2014.
Along with BH Group, Pérez’s Related Group, and Sagi’s LabTech Investments Limited are teaming up to buy the waterfront property located at 2305 Northeast 123rd Street.
The 1-acre property is expected to be redeveloped into a luxury apartment complex that would cost around $85 million. Sagi and Pérez are expected to close on the $11 million sale next week.
The North Miami property was sold by a firm led by Mario Murgado, the owner of Murgado Automotive Group for $7.8 million in 2014. Murgado planned to demolish the White House Inn and replace it with a seven-story Ocean Cadillac dealership with a self-contained parking structure, top-floor showroom, and ground-floor restaurant.
Local residents were outspoken in their opposition to the dealership, fearing that it would bring a flood of traffic to the neighborhood. Later Murgado proposed an 11-story tower, Biscayne Harbour, that was approved by the city council but was never finished.
“One of those rare bayfront sites that’s gone underutilized for far too long,” and that the partnership plans to give North Miami “the entrance it deserves,” according to Pérez.
Not only is Pérez known for his work with the Related Group but he is a big player in the residential market as well. In July, he sold his Coconut Grovemansion for $33 million. Pérez also sold his Apogee Beach penthouse for $6 million.
Groundbreaking for Onda Residences Officially Scheduled
The long-awaited Onda Residences has officially set a groundbreaking date for the beginning of November. According to a press release, the groundbreaking will take place on November 3 at 10:30 am located at 1135 103rd Street in Bay Harbor.
‘Onda Residences will rise 8 stories tall along the shore of Bay Harbor Islands. The tower is designed by award-winning architect Bernardo Fort-Brescia that will harness Italian-style finishes.
‘Onda’ itself in Italian means wave, and that’s exactly the effect the tower will have once seen off the shore. Developers include Ugo Colombo of CMC Group and Valerio Morabito of Morabito Properties. The lush landscaping will be designed by Enzo Enea who is responsible for the projects One Ocean and Icon.
This boutique waterfront tower will provide more than 300 feet of bay frontage with a private marina and views of Biscayne Bay and the Atlantic Ocean. The 41 luxury residences feature 2 + den to 4 bedroom options from 1,809 to 3,523 square feet floor plans. There are also 4 penthouses currently available as well.
Construction Information
Developers: Ugo Colombo and Valerio Mortabito
Interior Design: Carlo y Paolo Colombo
Architect: Bernardo Fort-Brescia
Residence Amenities
2 Bedroom + den (1,809 square feet) to 4 bedroom + den (3,523 square feet)
4 penthouse options
Spacious terraces available
Amenities
Private Marina with 15 boat slips ranging from 36 to 60 feet
Direct ocean access through Haulover inlet
Watersports launch dock with available kayaks, paddleboards, and inflatables
Covered valet drop-off
Personal parking spaces in a fully enclosed garage
Electric vehicle charging stations
Bicycle storage
Secured individual residential storage space
Front desk reception
24-hour security video surveillance
24-hour valet
Wi-fi available throughout all public spaces
FTTH (fiber to the home) for voice, video, and high-speed internet
Integrated digital concierge
Pricing
Price ranges from $1.8 million to $9.5 million
HOA is $1.29/sf
Deposit Breakdown:
10% with Reservation
10% at Contract
10% at Ground Breaking
10% at Top Off (summer 2022) /
60% at Closing
Construction is expected to be complete in early 2023. Onda is also at 60% pre-sold and a majority of the buyers are domestic.
