One Thousand Museum Tower Faces Foreclosure Due to Unpaid Loan

One Thousand Museum
1000 Museum Residences in downtown Miami.

Designed by the late starchitect Zaha Hadid, One Thousand Museum is a luxury condo tower located in Miami’s Park West neighborhood. As reported by The Real Deal, the developers of it are facing foreclosure due to an unpaid loan of $82.7 million.

According to FinTech Zoom, the court filings include the Motoconb Estates, LTD., agent for David and Simon Reuben (Reuben Brothers), are seeking to overtake the remaining 15 units from the tower.

The Principal investor is Gilberto Bomeny and the co-developer is Louis Birdman. Caught by surprise, Birdman recently stated, “This action by our current lender was completely unexpected, as they are well aware that our sales team had a record-breaking year of sales, and that we are preparing to pay off the construction loan this month. We remain focused on the successful sellout of our limited number of remaining residences at One Thousand Museum during the course of this year.”

1000 Museum Residences in downtown Miami.

FinTech Zoom also reported that the Reuben Brothers are among some of Britain’s wealthiest families but are not well known in South Florida. This year alone, they purchased Kyu restaurant in Wynwood and a few additional properties in South Florida. They also acquired the One Thousand Museum loans in February 2021.

According to Birdman, “We are in the process of raising prices. The building is performing better than ever.” In the past year, over $100 million in units have sold as well as $35 million in quarter 1 of 2021.

Notables that currently reside at One-Thousand Museum include David and Victoria Beckham and French national team soccer player Paul Pogba.

Baccarat Hotel & Residences Coming to Brickell

Miami Welcomes the Baccarat Residences to the Brickell Neighborhood

Baccarat Hotel & Residences will be the newest condominium development in the Brickell neighborhood of Miami. Located at 444 Brickell Avenue; tower 1 will be 88 stories, tower 2 will be 75 stories, 375 units, and 2 private elevators per unit. 1 to 4-bedroom units will be available starting from $945,000.

  • Developer: The Related Group
  • Architect: Arquitectonica
  • Landscape Designer: Enzo Eneas
  • Interior Designer Curated by Baccarat: Meyer Davis

According to The Real Deal, The Related group paid $104 million for the property in 2013. The 4-acre property is home to an office building with a Capital Grille restaurant on the ground floor.

Condominium Options:

1 bed plus den /2 bath – line 05
1,337 sq ft
Starting $945k

2 bed plus den/ 3.5 bath -line 02/03/04
1,788-1,923 sq ft
Starting $1,410,000

3 bed /3.5 bath – line 06 SE Corner
2,084 sq ft
Starting $1,805,000

4 bed / 4.5 bath – line 01  NE Corner
3,033 sq ft
$2,465,000

Payment Structure:

20% at contract
10% groundbreaking
10% at 12th-floor amenity deck
10% at top off
50% end of 2024

Rendering of walkway in front of the Baccarat Residences.

Residence Features:

  • Private key elevator access
  • 10 Ft ceilings residences
  • Linear diffusers in living areas
  • Ital Kraft cabinetry and Wolf induction and oven and stone backsplashes
  • Sub-zero fridge and wine storage
  • Solid door wooden doors
  • Master bedroom has 2 walk-in closets
  • Laundry rooms and utility sinks in selected residences
  • Smart building – pre-wired
  • Touch screen monitor for concierge & security
  • Package to 4 choices of flooring included in the price
Rendering of the entrance to the Baccarat Residences.

Building Features:

  • Zero-entry heated pool
  • Kids pool
  • Bbq area
  • Club room
  • Billiard room
  • Fitness room
  • Hamam spa
  • Squash court
  • Wine cellar and tasting salon
  • Game room
  • Children’s playroom
  • Business center
  • Gourmet market
  • Waterfront restaurant
  • Boat slips for rent
  • Valet & security
  • Membership for 1 year to 1 hotel beach club
  • Riverwalk under the bridge to Miami circle

If you or someone you know has any interest in purchasing or would like more information about the Baccarat Residences Miami, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332 or click here for more information.

Legacy Hotel & Residences Miami is Set to Break Ground in Spring 2021

Groundbreaking of the Legacy Hotel and Residences Miami is set to break ground this year 2021.

Developer Royal Palm just closed on the soon to be Legacy Miami condominium site with a $34 million price tag. This site, located within the 27 acre of the new Miami World Center, will be home to the Legacy Miami Hotel & Residences. This project is expected to be 39 stories, 255 hotel rooms, and 279 residences.

Minutes away Brickell, South Beach, Wynwood, and Design District; Legacy will truly be in the heart of downtown Miami. The ground breaking for this project is expected to begin as early as Spring 2021.

Unit Amenities:

  • FULLY FURNISHED RESIDENCES
  • CUSTOM KITCHEN AND BATH CABINETRY WITH STONE FINISHES
  • BOSCH ELECTRIC STOVETOP / MICROWAVE / REFRIGERATOR
  • ELECTROLUX WASHER AND DRYER
  • FLOOR-TO-CEILING GLASS WINDOWS
Legacy Hotel and Residences Miami Sky Lounge and Pool

Common Area Amenities and Building Features:

Hotel Areas

  • SPECTACULAR 40 FT. HIGH LOBBY WITH GLASS ELEVATORS
  • SIGNATURE INTERNATIONAL RESTAURANT
  • FULL-SERVICE CAFÉ
  • 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
  • SIGNATURE RESTAURANT
  • BAR AND LOUNGE
  • LUXURIOUS DECK FURNITURE
  • LUSH LANDSCAPING
  • PLUSH CABANAS

Rooftop Atrium and Event Space

  • DECADENT LOUNGE
  • GARDENS
  • FULL SERVICE BAR INDOOR AND OUTDOOR
  • INFINITY-EDGE, SINGAPORE INSPIRED POOL 500-FEET IN THE AIR
  • ROOFTOP SUNDECK WITH ENDLESS DOWNTOWN VIEWS
  • PLENTIFUL EVENT SPACE

Center for Health and Performance

  • 50,000 SQ FT MEDICAL CLINIC WITH SUITES FOR HEALTH AND PERFORMANCE DIAGNOSTICS
  • VIP HEALTH CLUB WITH OPERATING ROOMS AND PRIVATE VIP ENTRANCE
  • ADVANCED PERFORMANCE TESTING CENTER
Miami Legacy Sky Lounge and Pool

Wellness

  • MEDICAL FITNESS
  • VITALITY SPA
  • FITNESS STUDIOS
  • SPORTS MEDICINE/PHYSICAL THERAPY
  • EUROPEAN STYLED STEAM ROOM
  • RELAXING SAUNA
  • ALTITUDE TRAINING ROOM
  • CRYOTHERAPY CHAMBER
  • JUICE/BEVERAGE BAR
  • NUTRITION THERAPY

Current Unit Prices

STUDIOS

RESIDENCE #3116 : USD 339,000
(346 SF / 1 BATH / SOUTH)
RESIDENCE #4217 : USD 363,000
(346 SF / 1 BATH / SOUTH)
RESIDENCE #4018 : USD 359,000
(346 SF / 1 BATH / SOUTH)

RESIDENCES FACING NORTH SOLD OUT

ONE BEDROOMS

RESIDENCE #3509 : USD 445,000
(452 SF / 1 BATH / NORTH)
RESIDENCE #3907 : USD 457,000
(452 SF / 1 BATH / NORTH)
RESIDENCE #2902 : USD 445,000
(452 SF / 1 BATH / WEST)
RESIDENCE #4104 : USD 483,000
(452 SF / 1 BATH / WEST)
RESIDENCE #4302 : USD 490,000
(452 SF / 1 BATH / WEST)
RESIDENCE #4312 : USD 518,000
(452 SF / 1 BATH / EAST)

TWO BEDROOMS

RESIDENCE #2805 : USD 779,000
(873 SF / 2 BATHS / NORTHWEST)
RESIDENCE #3611 : USD 829,000
(873 SF / 2 BATHS / NORTHEAST)

There are no current rental restrictions for this tower and there are payment plans available. For more information on this property or other properties, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.

$22+ Million in Sales in One Week at One Thousand Museum Residences

One-Thousand-Residences

Demand for condominiums in Miami has increased within the past 3 months. Residential home shortages, as well as an increase in relocations, are driving factors for this demand. According to Business Insider; bankers, fund managers, and executives are now moving to Miami from New York at an alarming rate. Luxury home sales tripled in December 2020 compared to the previous year and the future for this market looks even better!

One Thousand Museum Residences is one of the many luxury condominiums that are feeling the demand. In the first week of January, they have reached $22+ Million in sales at the Bayfront building. ARTE Surfside and The Ritz Carlton Residences have also reached record-breaking sales in 2021.

With views of Biscayne Bay, the Atlantic Ocean, and Miami Skyline; One Thousand Museum is only minutes from South Beach and the Brickell financial district. This contemporary tower rises 60 stories with 83 total units; 4 duplex townhouses, 70 half-floor units, 8 full floor penthouses and 1 double story/full floor penthouse. Two lower level floors are dedicated to an indoor/outdoor wellness and spa, as well as the rooftop featuring the Aquatics Center and Sky Lounge. Additional building amenities include:

AMENITIES

  • Double height aquatic center with indoor pool
  • The Sky Lounge provides a dramatic venue for private events for residents
  • Private rooftop helipad. The helipad will make nearby islands, private and commercial airports, and private yachts easily accessible
  • Multiple recreation areas for swimming, sunning, socializing, and fitness
  • 24/7 specialized security and valet personnel, other on-site staff including concierge, professional management, and other specialized personnel
  • Custom scenting by 12.29 in all interior amenity spaces including the lobby, wellness & spa level, aquatic center, and sky lounge (can be available in residences upon request)
  • Bank-quality vault with individual safe deposit box for every residence, offering residents the convenience and security of storing their valuables onsite

Building Zones

The private residences feature custom Italian Kitchens with the main living spaces flowing east to west. Oversized terraces transform the units by providing more natural sunlight as well as the fresh ocean breeze. Additional features include:

FEATURES

  • Private residences are accessed from the lobby via secure, high-speed elevators that feature destination-entry smart technology
  • East-to-west flow-through floor plans that capture the mesmerizing panorama of Biscayne Bay and Atlantic Ocean views as well as the Miami skyline
  • Oversized terraces
  • Custom Italian kitchens with quartz countertops
  • Induction cook tops, in wall ovens, steam ovens, microwaves, dishwashers and integrated coffee makers by Gaggenau
  • Refrigerators by Sub-Zero
  • Faucets by Dornbracht and other quality manufactures
  • Custom-designed Italian made walk-in closets
  • Interior doors throughout the residences are by Lualdi Porte. All doors have been customized with Valli & Valli’s Duemila Cinque series handles designed by Zaha Hadid
  • European Interior Illumination products by Apure Architectural Lighting and other premium manufacturers customized by German designer, Uli Petzold.
  • State-of-the-art home automation infrastructure by Crestron

These unique and luxurious units range from $4.95 million to $20 million and with the popularity of the luxury condo market, the inventory has become limited. If you or someone you know have an interest in purchasing one of the One Thousand Museum Residences, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.