Tag Archives: miami condo

Legacy Hotel & Residences at Miami WorldCenter

Legacy Hotel & Residences Sells out at 100% at Pre-Construction

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Legacy Hotel & Residences at Miami WorldCenter

Legacy Miami Worldcenter also known as Legacy Hotel & Residences is one of the newest pre-construction residential towers located in Park West Miami. This luxury tower will rise 668 feet tall with 50 stories. This tower has officially sold out before the groundbreaking. According to the South Florida Construction Journal, this is the first development in downtown Miami to sell out prior to construction.

Centrally located at 942 NE 1st Avenue in the heart of the Miami Worldcenter ‘mega-development.’ This mixed-use project will feature 287 residences, 262, luxury hotel rooms, restaurants, business center, medical office, retail, and a rooftop atrium with multiple amenities. It will also be considered the second tallest tower at Miami Worldcenter.

Legacy Hotel & Residences Rooftop Amenities

The residences will consist of studios, one-bedroom, and two-bedroom floor plans ranging from 368 to 964 interior square feet. Developed by Royal Palm Companies with Kobi Karp as the architect and ID & Design International designing the interior space. This tower will feature state-of-the-art living without any rental restrictions. This allows homeowners to rent their units on a short-term basis through AriBnB, VRBO, or through Legacy’s rental program. The residences at Legacy Hotel & Residences will come fully furnished.

The sold units include a total of 310 with a combined value of $160 million. The average prices ranged between $350,000 to $2+ million. There are 8 penthouses remaining are subject to use for the hotel portion of the project.

RPC is currently closing on their construction loan and expects to announce that milestone soon. Construction permits are pending and site pre-work is estimated to begin the end of May and/or beginning of June 2021. Legacy Hotel & Residences is expected to be completed in 2024.

Miami Real Estate Sale Surge

Miami Real Estate Sales Surge in April 2021 – Best Sales Month in History

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Miami Real Estate Sale Surge

Home and Condo Sales surge in April making it the best sales month in Miami-Dade County real estate history. There have been a record number of companies relocating as well as individuals moving to South Florida creating such a high demand. Throw in the record-low mortgage rates and you definitely have your ‘surge.’

According to the Miami Multiple Listing Service (MLS), home sales have increased by 151.3% from 2020. Last year offered 1,576 homes sold to this year alone doubling to 3,960. Single-family home transactions increased by 83.1%. Condo sales are no different, with a substantial increase of 234.2% from 711 sales in 2020 to 2,376.

According to the MIAMI Realtors Chairman of the Board Jennifer Wollmann, “Miami recorded its best April sales month in history and the sales could have been even larger had there been more inventory.” “As is the situation in many major cities, inventory is low for single-family homes. The Miami condo market, however, is in a balanced market with 7.1 months of supply and buyers are taking advantage of the sector’s healthy inventory and today’s record low mortgage rates,” Wollmann also stated.

The luxury market has seen a substantial increase, with Miami luxury single-family home sales increasing 541.1% year over year with 359 total sales for April 2021.

Single-family home pricing between $400,000 to $600,000 increased by 118.9% to 521 transactions in April 2021. Cash sales for single-family homes have increased by 27.4%

The Miami Luxury condo market has also seen a spike in sales with an increase of 540.8% with 314 sales. Condo pricing sales between $400,000 and $600,000 had an increase of 371.6% to 349 sales than the years prior. Median prices for condos have increased 22.6% year over year as well. Condo cash sales accounted for 46.5% of transactions.

Distressed sales in my were at 1.5% which is low compared to prior years. Back in 2009, distressed sales accounted for 70% of all Miami sales.

With the high-demand, Miami real estate buyers have gotten creative and competitive with their offers. Multiple bids, buyers offering over asking price, and/or offering cryptocurrency in with their offer can really give buyers an edge in this market. Other factors have included mortgage contingencies, waving home inspections, and mortgage lenders waiving appraisals have also created a competitive edge.

Helipad at One Thousand Museum

An Elevated Event at One Thousand Museum

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Helipad at One Thousand Museum

Mayor Suarez does it again! First with his campaign to recruit big tech companies to relocate from Silicon Valley to Miami, and now he is hosting events with notables to display Miami as the new epicenter for everything tech and finance.

His most recent event was a collaboration with Barry’s (fitness brand), Keith Rabois (investor), and One Thousand Museum. This event named: ‘Miami:Elevated,’ took place on the helipad of One Thousand Museum with Barry’s personal trainers hosting a workout ‘700-feet in the air.’

The workouts consisted of a sport’s circuit with strength training and cardio. There was an initial donation fee to participate in the event.

Barry's Workout on the helipad at One Thousand Museum

The funds from this event are allocated for the Center for Black Innovation’s Accelerator Program. This program is an 8-week course is designed to assist entrepreneurs with direction for financial and personal success.

“What’s great about today is that we’re doing this…for the Center for Black Innovation which is the soul of our city,” “They are trying to create an equity of opportunity for all of our citizens. We want to give them an opportunity to enjoy the success. What’s amazing about the tech industry, is that they are some of the most thoughtful and most giving people I have met. They don’t just want to make great companies, they want to make a great city. And that’s what the city of Miami is, and how we will be different from every other city in America,” Mayor Suarez stated during the event.

Mayor Suarez truly wants to change Miami into one of the best places in America to work, live, and play. He is definitely on his way to creating an east coast big tech capital.

Attendees of note: Mayor Francis Suarez, Mayor of Miami; Keith Rabois, General Partner at Founders Fund; Pete Gilligan, Chief of Staff at Founder’s Fund; Lucy Guo, Co-Founder at Scale AI; Delian Asparouhov, Principal at Founders Fund; Chip Virnig, Partner at Thomabravo; Jeremy Wood, Founder of OpenStore; Zach Frankel, Co-founder at Better, Candid, BOD, Ramp, Redesign Health; Healey Cypher, Partner at Atomic VC; Mike Shebat, Senior Manager, Global Product at Uber; Traba, CEO & Founder; Demian Bellumio; Miami Tech Life Founder; Kingsley Advani, Founder of Allocations, Partner at 305 Ventures; Christine Aylward, Founder & Managing Partner of Magnetic; Jason Lovell, Founder of Motion; Nihaar Sinha, Founder & CEO of Maiya; Erick Gavin, Program Manager for CFBI; Kevin Venger, Co-Developer of One Thousand Museum; Matt Haggman, EVP at Beacon Council.

Photo credit: Ronin Creative

Article content credit: rbb Communications

Marc Anthony sells Coral Gables

Latin Singer and Songwriter-Marc Anthony Sells Coral Gables Mansion for $22.4 Million

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Marc Anthony sells Coral Gables Mansion

Three-time Grammy Award Winner and Jennifer Lopez’s ex-husband, Marc Anthony has sold his Coral Gables, Florida mansion! The expansive 12 bedroom estate sold for $22.4 million on May 18, 2021. The ‘Barcadi-developed’ mansion is located at 300 Costanera Road in Cocoplum with 21,000 square feet of expansive living space.

The estate is set on a 1.3-acre corner parcel with 480 feet of water frontage. It was originally designed by Rafael Portuondo. The great, great grandaughter of Barcadi Founder, Hilda Maria Bacardi, sold the estate to Anthony in 2018. The original construction took eight years to complete and Bacardi oversaw the entire process.

The three-story mansion was originally listed in 2014 before construction was even completed. The original price was $18 million. The sellers increased the price to $27 million in 2016, which was the year the construction was completed.

300 Costanera Road in Cocoplum

The gorgeous estate features an expansive wine cellar, swimming pool, staff quarters, 3 kitchens, and direct access to Biscayne Bay. The new buyer has not yet been listed in the tax records.

Marc Anthony also referred to as Marco Antonio Muñiz, is a singer, songwriter, actor-producer, and philanthropist. He is also the top-selling salsa artist of all time and holds a Guinness World Record for best-selling tropical/salsa artist. He has also received 6 Latin Grammy Awards and is also the recipient of the 2009 Congressional Hispanic Caucus Institute Lifetime Achievement Award.

Old Cutler Bay in Miami

J. Michael Arrington-Founder of TechCrunch Buys Waterfront Home for $16 Million

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Old Cutler Bay in Miami

In April 2021, J. Michael Arrington, Founder of TechCrunch, stated that “there is no better place to be than Miami.” So it is of no surprise that Arrington just closed on a waterfront property in Miami last Friday.

With a cool price of $16 million, this gorgeous home is located in Miami’s gated community of Old Cutler Bay has all the amenities that one could need. The gorgeous six bedroom home is perfectly sited on half of an acre with 140 feet of waterfront. This property is not limited in amenities! From the pool, wooden deck, coral rock fire pit, to the summer kitchen, it is absolutely stunning.

Patio View of Miami Mansion

The home was built in 2015 and designed by Florida architect, Cesar Molina. The 8,300 square foot home is complete with 6 bedrooms, 7.5 bathrooms, wine cellar, home theater, gym, and custom kitchen.

According to the Miami MLS, this property was originally listed in April with a price of $16.5 million. According to tax records, the sellers purchased the property for $10.4 million in November of 2018. According to the listing agent, properties in this neighborhood typically sell for over $10 million but this has been the highest sale price ever for this neighborhood.

Garden in Miami Mansion

J. Michael Arrington is the founder of the popular tech review website, TechCrunch and a cryptocurrency hedge fund, Arrington XRP Capital. Techcrunch which operates Crunchbase, was founded in 2005 starting off as an online encyclopedia with information on key people, funding rounds, and startups’ information. TechCrunch was later acquired in 2010 by AOL for $25 million.

501 FIRST Residences in Downtown Miami

501 First Residences- Renderings and Plans Just Released for the 40 Story Tower in Downtown Miami

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501 FIRST Residences in Downtown Miami

Miami can now officially welcome the newest pre-construction tower to grace our gorgeous skyline, 501 First Residences in downtown Miami. This new 40-story tower with 448, will be developed by Aria Development Group and designed by Revuelta Architecture International, who also designed Wind and 900 Biscayne. 501 First Residences will be located at 501 Northeast 1st Avenue with views of downtown Miami and Biscayne Bay.

Acoording to the Aria Development group, this particular development will be built to cater to the short-term rental market. The biggest perk is that there will be no rental restrictions. Which means, the resident can utilize any consumer platform (Vrbo, Expedia, Airbnb, etc.) to rent and each unit can be rent for 1 day or more.

The renderings reveal floor-to-ceiling windows and expansive balconies. The sleek structure is curved creating a horizontal and vertical grid like design. The exact height of the development hasn’t been released but we can expect the 40-story high structure to be over 450 feet in height.

street level view of 501 First Residences

The 448 luxury units will be fully finished and furnished with pricing starting at $300,000. Floor plans will range from studios, 1 bedroom, and 2 bedrooms. The square footage for each unit is expected to be from 385 to 835 square feet.

Residence Features:

  • Fully finished and furnished residences thoughtfully curated by award-winning design firm, Shim Projects
  • Floor to ceiling glass windows with custom window treatments
  • All residences feature balconies
  • Biscayne Bay and Miami skyline views
  • Finished flooring on all residential interiors and balconies
  • In-unit washers and dryers
  • Kitchens and bathrooms feature custom Italian cabinetry and counters
  • Speed oven by Smeg
  • Integrated paneled refrigerator and freezer
  • Dishwasher
  • Fully built-out closets
  • Hansgrohe bathroom fixtures, features, and accessories in dark matte finish

Building Amenities:

  • Porte-cochère entrance with 24/7 valet service
  • On-site management office
  • Mid-century, modern-inspired interior finishes and furniture in residential lobby with 25ft ceiling
  • Secure bicycle storage in enclosed and air-conditioned space
  • Centrally-located personal storage for all owners
  • Luxer One Package Room featuring a tech-forward, contactless digital package delivery system
  • Dry-cleaning service
  • Ground floor bistro and bar helmed by New York City’s GPG Hospitality
  • State-of-the-art indoor gym with private fitness training rooms
  • Yoga/meditation room
  • 75-foot resort-style lap pool
  • North-facing private rooftop movie theatre experience
  • Grill & Chill on the Sunrise and Sunset Decks
  • Outdoor Game Lawn
  • Hot hydrotherapy bath
  • Private club suite with game tables
  • Entertainment chef’s kitchen
  • Media Room
  • Library
  • Private workspaces
  • Pet Lounge with pet bath station
  • Greenhouse

The site currently features a 2-story buidling that was built in 1924 and was previously the sales center for YotelPad Miami. The entire project will take over 4 lots equaling 22,500 square feet. According to tax records, the developer purchased the lots in 2015 for $8,250,000.

501 First Residences condominium building

According to Miami-Dade Country records, construction permits have not been filed. The ground breaking is expected to be scheduled for spring 2022 with a top-off date in spring 2023.

Natiivo in Downtown Miami

Downtown Miami Introduces Gale Miami Hotel and Residences

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601 Miami in Downtown Miami Renderings

A 51-story tower located directly in the heart of Downtown Miami, is the first ‘CondoHospitality’ tower in Miami with open-concept designs and killer views of the Miami skyline and Biscayne Bay as well as world-class amenities.

This new construction tower will house Gale Miami Hotel & Residences; Miami’s first wellness building, licensed for short-term rentals. Gale will occupy 7 floors (17 through 23) which will include 140 luxury condo hotel units, where owners have the option of utilizing the onsite rental program.

Gale Miami Hotel and Residences

These units will be fully finished and furnished with square footage ranging from 389 SF – 900 SF with pricing starting at $300,000.

Residence Features:

  • Urban luxury residences with modern open layouts from
  • Studio, one, & two-bedroom units
  • All residences are delivered fully finished and furnished with fixtures and furniture curated by Urban Robot
  • Panoramic Biscayne Bay, and Miami skyline views
  • Private balconies with most units
  • Ceiling heights 9 feet
  • Owner’s closet in every residence
  • Floor-to-ceiling windows and impact-resistant glass throughout
  • Advanced technology Smart Building wiring for HD TV, multiple telephones
  • Data lines and ultra-high-speed internet access
  • Washer/Dryer in the units

Kitchen:

  • Imported European cabinets with premium hardware
  • European style appliance package including refrigerator, cook-top, microwave, and sink
  • Elegant stone countertops and backsplashes
  • Contemporary under-mounted sink
  • Gourmet faucet with integral sprayer

Master Bathroom:

  • Imported European cabinets with premium hardware and drawer pull
  • Elegant imported stone countertops and backsplashes
  • Rectangular trough porcelain sinks with dual faucets
  • Custom-finished floors and walls in wet areas
  • Frameless glass shower enclosures
  • Premium European-style fixtures and accessories

Gale residents will have access to all of the amenities that 601 Miami has to offer including the social club, meeting spaces, coffee and juice bar, and media lounge.

Work Amenities:

  • Co-working spaces
  • Private offices
  • Flexible office arrangements
  • Video-capable conference rooms
  • Quiet rooms
  • Phone booths
  • Cutting-edge technology and connectivity
  • Office host
  • Coffee and juice bar
  • Amphitheater
  • Meeting/presentation rooms

Social Amenities:

  • Specialty restaurant and bar
  • Dining terrace
  • Social area with full-service cafe and cocktail bar
  • Drink and dine lounge areas
  • Media lounge
  • Live show and events lounge
  • The porch
  • Speakeasy
  • DJ and live performances
  • Programmed events
Splash Pad at 601 Miami Residences

The ‘Splash on 9th’ boasts 16,000 square feet of poolside bliss featuring a resort-style pool and cabanas.

Splash Amenities:

  • Sun deck
  • Poolside beverage and food service
  • Native tropical landscaping
  • Cabana bar
  • Pool towel services

‘The Fit on 10th’ features 16,000 square feet of health and fitness options.

Fit Amenities:

  • Juice bar
  • Yoga and pilates studio
  • Boxing ring with punching bags
  • Peloton equipment
  • Weight station
  • Cross-training/Crossfit
  • Spa/treatment rooms
  • Sauna/steam rooms
  • Locker rooms
  • Outdoor terrace/training
  • The Fit Boutique

Residents will also be able to enjoy 601 Miami’s 24-hour concierge, valet parking, and security.

Gale Miami Hotel and Residences will be the third property in the Gale Brand. The first hotel debuted in 2012 in Miami Beach, and the second one was Gale Hotel and Residences in Fort Lauderdale Beach.

The construction for Gale Miami Hotel and Residences has already started and the grand opening is anticipated to be in the fall of 2023.

Shoma North Bay Village Rendering

Shoma Group Buys North Bay Village Land for $15.78 Million for a Proposed Mixed-Use Project- Shoma Bay

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Shoma North Bay Village Rendering

Shoma Group, led by CEO Masoud Shojaee has recently purchased a 1.79 acre lot in North Bay Village. The development group purchased the land through two separate deals for a total of $15.78 million.

The lot located at 1850 79th Street Causeway sold for $8.38 million while the lot with a current retail building at 1872 79th Street Causeway sold for $7.4 million. Both properties were purchased with a mortgage through North Bay Finance & Investments.

Shoma Bay Mixed-use Project in North Bay Village

The plans for the ‘Shoma Bay’ development were presented and approved by the North Bay Village in March 2021. The mixed-use development will house a 19-story tower that will include 333 residential units, 36,068 square foot approved Publix grocery store, 6,315 square feet of retail, and a 666 garage spaces. Ten of the spaces will be dedicated to electric charging vehicles, and the garage will be located on top of the Publix.

The amenities will include a pool, bowling alley, complimentary snack station, wework café, clubroom, and more to be determined.

MSA Architects are the lead designers on this project. MSA have also designed the Waverly at Surfside, Porto Bellagio, and the Marriott Miami Beach.

Ambienta Bay Harbor Islands Rendering

New Construction Tower-Ambienta Bay Harbor Islands Plans Ground Breaking for June 2021

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Ambienta Bay Harbor Renderings

Ambienta Bay Harbor Islands is one of the newest condo developments in Bay Harbor Islands. Located at 9901 West Bay Harbor Drive, this 7 story and 30-unit building will feature quality craftsmanship, high-end materials, and flawless finishes that is truly awe-inspiring.

Although limited to 30 units, this tower will showcase two bedroom + den to three bedroom units ranging from 1,229 to 1,662 square feel. Upon entering the building, you will be greeted with a double-height lobby, glass façade throughout, and gorgeous gardens with tropical plants. Each unit will includes its own two parking spaces and a storage unit. The prices for these units will range from $761,000 to $1.2 million.

Balcony Rendering of Ambienta

Construction Information:

  • Developer: Ambienta Developers
  • Architect: Revuelta Architecture International
  • Landscape Design: David J. Odishoo
  • Interior Design: Bea Interiors Design

Building Features:

  • 360-degree Rooftop Oasis for outdoor enjoyment
  • Infinity-edge swimming pool
  • Outdoor yoga/meditation space
  • Children’s play area
  • Fully outfitted Fitness Center with cardio and weight training equipment
  • Resident’s social room with bar, large-screen televisions, and lounge seating perfect for events or meetings of any kind
  • Impressive double-height lobby with reception seating

Residence Amenities:

  • Two covered parking spaces per residence
  • Corner residences offer wrap-around terraces
  • High impact floor-to-ceiling sliding glass doors and windows
  • All bedrooms have access to expansive balconies
  • Walk-in closets in master bedrooms
  • Master bathroom with double sink, glass shower enclosure with rainfall shower head and hand shower
  • Expansive glass-framed outdoor terraces accessible from bedrooms and living areas
  • Italian kitchens with custom quartz counter tops and Italkraft® cabinetry
  • Bosch® appliance suite includes induction cooktop, built-in stainless steel French door refrigerator, convection oven, microwave oven, and dishwasher
  • Private storage available on same level as residence
  • Bluetooth® enabled keyless entry system with camera technology

Sales have already started on this development and it is expected to break ground in June with a top-off date of July 2022. Closings are set to begin in spring of 2023.

Una Residences Miami

Oko Group Obtains $128 Million Loan to Finish Construction on Una Residences

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Una Residences Miami

Oko Group and Cain International, developers for Una Residences, have just obtained a loan of $128 million to complete the construction. As of April 2021, $76 million in pre-sales have been recorded with a majority of domestic buyers. The tower is at 72% sold with 2 exclusive penthouse residences left for purchase in the tower.

UNA Residences Construction Overview

The loan was brokered by Walker & Dunlop with representing law firms Weil Gotshal & Manges and King & Spaulding.

According to the CEO of Oko Group, Vlad Doronin stated, “Miami’s increasing global appeal is drawing families to live and businesses to invest in high quality real estate, particularly rare and exclusive offerings such as Una Residences; one of the last opportunities to buy a waterfront property in one of Miami’s most desirable neighborhoods.”

UNA Residences-View from Biscayne Bay.

This tower will feature 47 stories of 135 units located at 175 S.E. 25th Road on 1.04 acres right up against Biscayne Bay.

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 cook tops, 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 hair styling, 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

The ground breaking was in May 2020 and the 47-story tower is expected to be complete in 2023. For a construction update, click here.