New Argentine Restaurant Opens its First US Location in North Miami Beach

La Birra Bar is a 20-year-old family-owned restaurant that has officially opened its doors in North Miami Beach. This Argentina restaurant has made a name for itself and has already challenged burger restaurants throughout Miami-Dade.

Known for being “The Best Burger in the World,” the challenge is clear: try and beat their world-class burgers. They don’t consider their burgers like any burgers. They call them creations and they have spent years concocting the perfect recipe. Ingredients like aioli, confit tomatoes, and Milanese mozzarella cheese make their burgers what they are; delicious.

Although they are known for their burgers (which there are 40 different ones to choose from), they also showcase wings, chicken tenders, and ribs. They were also home to the ‘Elite’ ice cream, which was just added to their menu.

Daniel, Roxana, and Renzo Cocchia are the owners and operators of La Birra Bar which originally started as a cafeteria but later became what it is today. Ice cream maker and pastry chef, Matías Dragun recently added the elite ice cream to the menu. His ice cream recently won third place in January at the Ice Cream World Cup in January 2021.

La Birra Bar currently has 12 locations Buenos Aires, Madrid, and now North Miami Beach.

Record Set for Miami-Dade for Most Home Sales in a Quarter for Q2 2021

According to the Multiple Listing Service (MLS), Miami-Dade real estate has set a new record for most home sales in a quarter. This new record is of no surprise due to the multiple records that have been set in Miami this year alone. In July, a waterfront mansion sold as the highest-priced home sale ever in all of Miami-Dade. Bay Harbor Islands also had a record-breaking sale of $12 million on a recent waterfront home, making it the highest-priced sale in all of Bay Harbor.

Total home sales for Miami-Dade County rose 142.4% from 4,766 to 11,553 sales. Single-family homes sales also rose from 66.9% from 2,688 to 4,486. Existing condo sales increased from 2,078 to 7,067 making it 240.1%.

Comparing to quarter 2 2019 to quarter 2 of 2021, total home sales rose 46.9% overall from 7,861 to 11,553 total transactions. As for condo sales, which are up by 76.3% from 2019 to 2021 and single-family homes sales up 16.4%. These numbers make this quarter the best-selling quarter for all of Miami-Dade since 1993.

Luxury sales have also rose 346.4% for this quarter. With an influx of buyers from the West Coast as well as remote workers, $1 million-plus homes are not staying on the market long. Condo luxury sales have increased by 651.6% for this quarter as well.

Single-family median home prices rose 31.6% from $380,000 to $500,000. Condo sales saw an increase as well at 25.8% from $262,250 to $330,000. The total home sale volume for Miami is $9.3 billion.

One of the drawbacks for sales is the lack of inventory for both condo and single-family homes. Active listing total 11,262 for this quarter at 41.8%, which is a large decrease from 19,358 from 2020. Condo inventory showed a substantial decrease of 41.7% from 4,926 to 2,853. With the interest rates maintaining a low rate and sellers wanting to take advantage of the market, we hope to see an increase in supply in the future.

Developer Looking to Acquire 80% of Brickell Harbour

In the past couple of years, Brickell Harbour condominium owners have received multiple offer letters to purchase their units. More recently, one of our long-time clients has received a purchase letter for double the value of their unit. This has come at a time where all units seem to be receiving a similar letter with their purchase price unknown but it is evident of the developer wanting to buy out the tower.

The developer of interest is Brickell Bayfront Acquisition Associates, LLC, an affiliate of Fortune International Group. The limited liability company as well as Fortune International Group is located at 1300 Brickell Avenue in Miami. Their portfolio consists of the development, designing, and financing of Miami condominiums. They also offer brokerage services.

According to the letter (below), Brickell Bayfront Acquisition, plan on obtaining at least 80% of the units at Brickell Harbour. The letter also states that the company has spoken to the condominium owners association about purchasing units but it was concluded that it is up to each individual owner to make the decision to sell. Some of the highlights of the purchase agreement include:

• The purchase price being offered is a significant premium above the market value of the unit and considers each unit’s particular size, view, floor, line, and improvements;
• Cash earnest money is promptly deposited with a third party escrow agent to secure the contract;
• There is no finance contingency;
• Closing in 90 days after the expiration of the due diligence period;
• The owner pays NO brokerage commissions (typically 6%);
• The buyer pays off the recent special assessment for structural repairs; and
• The ability to continue to occupy the unit for a period of up to 6 months after the date of closing.

Brickell Harbour is an 18-story condo tower located at 200 SE 15th Road in Brickell’s Financial District. The tower was built in 1974 and received major renovations in 2019. Residences comprise of 1 to 3 bedroom floorplans ranging from 602 to 1,641 square feet of living space. Tall ceilings, floor-to-ceiling glass windows, wide balconies, and gorgeous views are just a few of the residential amenities these units have to offer.

It is unclear what Brickell Bayfront Acquisitions plans on doing with the tower once they receive purchase contracts but we will update this article as more information is available.

Anheuser Busch Executive Pays Record Price for Waterfront Home in Bay Harbor Islands

Another record sale is in the books for Miami! Just this past week, an executive for Anheuser-Busch, Fued Sadala, purchased a waterfront home in Bay Harbor Islands for $12 million. This marks another record after the most recent mansion that sold for $65 million as the highest sell in Miami-Dade history.

Located at 9814 West Broadview Drive, the 8 bedroom and 9 bathroom home features 7,098 square feet of living space. The design of this modern home showcases its straight rooflines and large expanses of windows and glass doors. The expansive master suite with a sitting area, steam shower, and double walk-in closets is perfect with its Biscayne Bay views.

The open floor plan flows seamlessly throughout, opening to the large concrete patio and pool. The expansive yard makes for entertaining as well as gaining access to a private boat dock all on 0.3 acres. The property was originally built in 2002 and was last sold for $4 million in 2018.

The waterfront home was originally listed for $12.5 million and sold within 2 months. This sell is the highest sold waterfront home in the two-island town of Bay Harbor Islands.

The previous record was at $11.5 million in Bay Harbor Islands that sold in December 2020 at 9540 West Broadview Drive. Also in 2020, the CEO of Moet Hennessy sold his Bay Harbor Islands waterfront home for $8.1 million.

For more information on Bay Harbor Islands luxury homes or any of its new projects, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.

Own this Multi-Million Dollar Home in Miami for Free

A for-profit fundraising website, Omaze has partnered with the Charities Aid Foundation, and Make-A-Wish Foundation to raffle off a 7 bedroom, 6 bathroom home in Kendall, just south of downtown Miami.

The property last sold in April 2021 and is currently valued at $2.6 million and you can own it for free. According to the Omaze website, it doesn’t cost anything to enter but if you would like additional entries and a greater chance to win, then the entrant can purchase additional entries.

Five additional entries equal $5 but $150 can get you 2,000 entries. The more you pay, the more you play. The amount of entries is limited to 6,000 per person. The proceeds from the purchase go towards the Charities Aid Foundation who will then distribute the funds to the Make-A-Wish Foundation of America.

This specific raffle will go towards helping 9-year-old Khushi who is currently battling cancer in her dream to become a princess. In a statement, Omaze stated they will only keep 15% of the contest revenue for operating costs.

The home is located at 8100 SW 96th Street and features 6,060 square feet of living space. Photos of the home show a gated property opening to the modern-style home with vaulted wood ceilings and a covered patio.

Home Amenities:

• Greeting room with wet bar
• Designer kitchen with a Wolf gas range, double ovens, subzero refrigerator, Miele coffee maker, Neff cabinets, Silestone countertops, and a large island
• Luxurious master suite with a sitting area, private terrace overlooking a pool, two walk-in closets, and an “amazing” master bathroom
• Office
• Private upstairs studio apartment
• Heated pool and spa area with a kids’ wading area
• Outdoor kitchen with grill area
• Elevator
• Savant smart home automation system
• Metal roofing
• Porcelain floors throughout
• Generator-ready electrical system
• Two-car garage

The deadline to enter the Omaze raffle is December 18, 2021, and the winner will be announced in early January 2022. If the winner decides to forgo accepting the prize, a cash option of $1.8 million is available which will be paid in installments of $150,000 for 12 months.

Miami will be the First Test Market for Lyft’s Self-Driving Cars

Lyft has been competing with Uber since it first launched its services in 2012. Now Lyft has the upper hand in the market because for the first time ever, Lyft will be launching a self-driving ‘robotaxi’ services in Miami.

Lyft has partnered with Argo AI, an AV startup that is backed by Volkswagen and Ford to bring artificial intelligence into ride-sharing. Launching in Miami later this year and Austin, Texas next year.

According to the press release today surrounding the partnership and ride-sharing initiative. Ford has promised to bring full-scale autonomous vehicles for the public that could make more reliable predictions than other self-driving cars on the market. For this self-driving car, Ford has built a vehicle without a steering wheel or pedals, but there are currently no renderings or photos available.

During the transition, Ford along with Argo will be inviting members of the general public to ride in autonomous vehicles for consumer testing. The first fleet of cars to start in Miami will feature less than 100 cars. According to Argo, they expect to have more than 1,000 vehicles across several markets in the U.S in the next 5 years.

The technology itself has been tested in Miami for several years prior to this announcement. According to the press release, these vehicles will be available on the Lyft platform in Miami by the end of the year. The vehicles will include 2 ‘safety drivers’ in the front and passenger seats.

Argo is also is preparing to launch an autonomous delivery service with Volkswagon in Germany by 2025.

Construction Permits Filed for NEMA Miami

In the wake of Miami’s construction boom, it is of no surprise that another tower will be underway soon. Plans for NEMA Miami were originally announced in February 2020 with plans to break ground earlier this year. The permits for this tower were finally filed this week with an anticipated groundbreaking mid to late August 2021.

Located at 2900 Biscayne Boulevard, NEMA Miami will rise 39 stories high at 428 feet high with plans of 588 apartments. There will be an additional 56,000+ square feet of retail space with a potential organic grocery store occupying a portion of the space. Located at the edge of Wynwood and Edgewater, NEMA will be centrally located close to the Design District as well as Brickell.

NEMA Miami will be Designed by Arquitectonia and the Rockwell Group, and developers include Crescent Heights. Crescent Heights have been responsible for all of NEMA towers.

The design appears to be a more modern style with a glass exterior reflecting the Miami sky. According to their website, “no two NEMA’s are alike,” and that their designs represent the culture of the neighborhood that they are located.

Tower amenities for NEMA include club benefits when traveling, guest suites, NEMA events, a full-service fitness center, a sky deck pool, and much more!

Residence Amenities:

• Expansive floor-to-ceiling windows
• 9-foot-high ceilings
• 6-inch-wide plank floors
• Acoustic solid wood core doors
• Lutron Caseta lighting and ecobee3 thermostats
• 30-foot-long recessed balconies*
• Extra den or office space*
• Blackout and sheer thermal shades*
• Custom-designed David Rockwell kitchen pendant
• Kitchen island*
• Chicago-sourced custom cabinetry featuring soft closures and dimmable lighting
• Caesarstone countertops and seamless backsplashes
• Blomberg stainless steel gas range and paneled dishwasher
• Baths with polished chrome Hansgrohe fixtures and Duravit sinks
• Dual vanity bathrooms*
• Full-size washer & dryer in every apartment
• Walk-in closets*
• Customizable Elfa closet organization
• Keyless entry via NEMA fob card or mobile app *Select residences.

The estimated construction costs for this project is $165 million.

Doubling in Value – Venetian Island Waterfront Mansion Sells for $30 Million

The Venetian Islands in Miami are man-made islands connected by the Venetian Causeway from downtown Miami to Miami Beach. These islands offer some of the most lavish and unobtrusive island living in Miami. Totaling 6, each island offers its on appealing qualities.

In the winter months, you will see socialites, notables, and celebrities flocking to these gorgeous islands for a private and luxurious getaway. These islands offer a mixture of Mediterranean and Italian inspired architecture and landscaping. With swaying palms, stone exteriors, you will feel like you are on a secluded resort island.

More recently, a waterfront mansion with one of the largest lots on the Islands sold for $30 million. Doubling its value, this property was originally purchased for $13.5 million in 2014. The new purchase price equaled $3,870 per square foot and was sold off-market.

Located at 943 N. Venetian Drive, this lot faces north on Biscayne Bay, making it one of the most desirable locations. The property features 7,752 square feet of living space on 1.08 acres with private gate entrance.

The estate was built in 1937 with additions in 1994 and 2004. Guests are greeted with a circle drive leading to a Mediterranean stucco finish mansion with 6 bedrooms, 7 bathrooms, 7 statues, a pool, balcony, and boat dock.

Sellers for the home include Marjorie E. Stone and Ricardo Rodriguez, but the buyers are currently unknown with a registered name of Delaware LLC.

Missoni Baia Tops off Construction

The long-awaited 649-foot waterfront tower, Missoni Baia is now topping off construction at 57 stories. Located in the Edgewater neighborhood of Biscayne Bay at 777 NE 26th Terrace. Missoni Baia is the first Missoni branded condominium tower in the world.

Developers for this project include OKO Group and Cain International who are responsible for creations such as UNA Residences and 830 Brickell. The building is being designed by architect Hani Rashid of Asymptote Architecture and landscape design by Enzo Enea.

This luxury tower features 249 units with 1 to 5 bedroom floor plans measuring between 776 and 3,788 square feet. Pricing for the units fall between $650,000 to $9 million. This bayfront tower also features 200 feet of linear Bayfront access.

According to Vanessa Grout, the CEO of the OKO Group, domestic buyers surged once single-family home prices escalated. “As a result, luxury condominiums like Missoni Baia are proving much more attractive, promising less maintenance costs and an abundance of resort-style amenities,” says Grout.

Interior unit features include 10-foot ceilings, expansive terraces, impact-resistant glass windows, and custom kitchens with high-end appliances. Residents of Missoni Baia will have access to ultra-luxurious amenities including a private spa with sauna, steam room, multiple pools with poolside lounges, a bay-terrace lounge, resident game room, kid’s pool and play area, and a pet spa.

As of June, a majority of the units at Missoni Baia have sold, and closed sales have reached approximately $100 million. This gorgeous tower is set to complete at the end of 2021. If you or someone you know have an interest in purchasing one of the units at Missoni Baia, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.

Volume for Condo Sales Rose more than $60 Million for June

According to the Miami-Dade MLS (Multiple Listing Service), condo sales for Miami rose more than $60 million, while the number of units remained steady. As of last week, 273 units sold, which is very similar to the previous week with a dollar amount totaling just over $210 million, with the previous week at $149.3 million.

The average sell price for condos from June 13 to June 19 is up to $770,000 with the previous week at $541,000. The most expensive sale for this week included a penthouse at Miami Beach’s Faena House for $11.2 million equaling $2,628 per square foot. The unit was on the market for 267 days.

Faena House condominium is located at 3315 Collins Avenue in Miami Beach. It is an ultra-luxury tower with 47 units rising 18 stories tall. This building offers 1 to 4 bedroom floor plans with 1,307 to 8,273 interior square feet of living space. Residence features include; Miele appliances, Dornbracht bathroom finishes, marble flooring, and Crestron Automated Systems. Residents enjoy exclusive amenities including a 24-hour doorman, valet, spa, fitness center, beach club, and direct ocean views.

The second most expensive sale was at the Surf Club Four Seasons in Surfside selling for $6 million at $3,409 per square foot. This property was on the market for 126 days.

Surf Club Four Seasons located at 9001 Collins Avenue and 9111 Collins Avenue in Surfside was designed by architect Richard Meier who brilliantly blinded the historical Surf Club and the new 12-story development. The Surf Club Four Season features 150 residences and 77 hotel rooms. The residences feature 1 to 5 bedroom units with staff quarters ranging from 1,411 to 7,500 square feet of living space with floor-to-ceiling glass walls, expansive balconies, and unobstructed views of the Atlantic Ocean and Biscayne Bay.