UNA Residences will feature floor to ceiling glass surfaces on every floor ‘reflecting the Miami sunshine,’ 10′ 8″ foot ceilings in every residence, and the most spectacular views of Biscayne Bay and the Rickenbacker causeway. Prices for these remarkable units range from $942,000 to $6,643,000.
Construction is currently underway. Rebar is being brought in to construct the foundation and cranes are onsite beginning the dig-out of the 100,000 square feet car garage, which will be 50 feet deep and three stories below sea level. According to a construction update from the Florida Construction news, 800 holes will be drilled into the ground then filled with concrete creating interlocking pillars that will eventually construct a cement block for the garage. That block will then be hollowed out to create the deep garage.
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
UNA Residences Miami is estimated to be completed summer of 2022. We will continue to update this article once construction has progressed.
Dezer Development Launches Bentley Residences
Miami welcomes the first-ever Bentley-branded luxury residential tower. The news was announced today that this remarkable tower will stand tall along with other luxury car brands like the Porsche Design Tower and Aston Martin Residences. This remarkable project will have a sophisticated and sleek design standing at 749 feet tall in Sunny Isles Beach. This tower will be the tallest beachfront tower in the U.S. and its height already has FAA approval.
Dezer Development and Sieger Suarez Architects will be partnering to create a luxurious design worthy of the Bentley brand. Dezer and Sieger Suarez has previously worked on Armani and Porsche towers. Gil Dezer, President of Dezer Development states, “Partnering with Bentley Motors, a true global luxury brand and being able to create another first in the Miami marketplace is an extraordinary opportunity.”
According to the press release, there will be 200+ residences, each with a multi-car garage with a car elevator delivering your car straight to your residence (similar to that of Porsche Design Tower). Each unit will also feature its own private balcony, pool and sauna. Floor-to-ceiling windows throughout the residences with ocean and bay views.
Building amenities will include a gym, pool, spa, restaurant (TBD), lounge, cabanas, cinema, whiskey bar, and garden. According to Forbes, Bentley Residences will be built according to the the Florida Green Building Council Certifications with anticipations that the building will use less energy.
The ground breaking is expected to begin in 2023 and construction is expected to be complete by 2026. We will update this article as more information is published about Bentley Residences.
‘Millionaire’s Tax’ Heads to New York While Bankers, and Big Earners Head Out
High tax rates are common within the city of New York and it has never really steered bankers, fund managers, and big earners away from ‘The Big Apple.’ In fact, the appeal to live in New York has always been the exclusivity of living there if you could afford it. But with a recent New York state budget agreement that plans to raise rates among certain high earners, there are some that are looking to move and settle south.
According to a Reuters article, a high level employee at a large bank who does not want to be identified stated, “I’m already looking for an apartment in Florida.” There has also been talk among others who are earning more than $1 million are considering moving their entire firms out of the city.
The breakdown of the legislation would have the top New York City earners paying an upwards of 15.73% in combined state and city taxes. To put it in perspective, the current tax rate for the state range from 4% to 8.82% and the city ranges are 3.08% to 3.88%
This legislation was named the “millionaire’s tax,” and is expected to increase taxes for earners who make more than $1 million a year. If implemented, this tax would beat California’s (highest in the country) tax rate.
Larger companies have already started moving staff out of New York. Some of note are Goldman Sachs Group, Inc, Virtu Financial Inc, and Elliot Management. A smaller hedge fund manager stated, “This creates an overwhelming incentive to move.”
Geoffrey Weinstein, a tax attorney for Cole Schotz stated that, “When wealthy people don’t like something, they don’t protest, they just leave.” If this is the case, then the tax will eventually fall on earners making less that $1 million.
With more people working remote due to the pandemic, places like Florida that have lower tax rates, lower real estate taxes, and are fully opened are becoming an ideal location for top earners. And we at Miami Condo Investments welcome them with open arms!
Construction is Underway for Platform 3750 Project in West Grove Neighborhood Miami
Platform 3750, a mixed-use project in the West Grove neighborhood of Miami has just broke ground at 3750 South Dixie Highway on 2.1 acres. This site is within walking distance of the Douglas Road Metrorail Station. The Cornerstone Group is the lead developer for this mixed-use project and is currently leasing from Miami-Dade County after winning a request for the RFP process.
This project is expected to create 300 jobs and is designed to ‘jumpstart economic activity’ in West Grove. It is anticipated to have 191 apartments, 21,000 square feet of retail space already leased to Aldi and Starbucks, 14,000 square feet of office space for the Cornerstone Group, 12,500 square feet of office space for the county’s Community Action & Human Services division, 3,000 square feet for the district office of county Commissioner Raquel Regalado, and 400 parking spaces.
Cornerstone Partner, Lenny Wolfe states, “West Grove has been neglected for a while. There was a very small amount of affordable housing built there and there is tremendous need. And it’s a food desert because there’s a real need for an affordable grocery store.”
This project was designed by Kobi Karp Architecture and the general contractor is Current Builders
The loan for this project includes a $60.5 million loan, $8 million county’s surtax, $3.5 million city government obligation bond, $1.95 million city Home loan, $1.4 million from the county economic development fund, and $5 million in tax credit equity.
Cornerstone Partners announced that they anticipate this project to be completed by the end of 2022.
The Future is Here – Miami Sees Its First Delivery Robots
Cartken, a robotics startup, has recently partnered with REEF Technology to introduce self-driving delivery robots to Downtown Miami. REEF Technology currently offers fulfillment solutions, neighborhood kitchen deliveries, and parking solutions.
Founders of Cartken include ex-Google engineers, and have been developing this type of delivery service since 2019. This will be Carken’s first major introduction of self-driving robots in Miami.
While only operating within a 3/4 mile radius of downtown Miami, Cartken has been testing their electric-powered robots fulfilling orders from delivery-only kitchens. These robots are operating on the REEF’s network, are insulated, and can maintain heat for hot meals. Cartken already has designated logistics hubs and can be dispatched to restaurants while the food is being prepared.
Matt Lindenberger, REEF’s Chief Technology Officer stated, “We want to show how future-forward Miami can be. This is a great chance to show off the capabilities of the tech.”
There are currently only two restaurants utilizing Cartken in Miami with a large potential for expansion in other neighborhoods.
The robots are powered by rules-based programming and can actually stop and ask for help if necessary. Lindenberger stated, “The robot is seeing the environment, planning around obstacles like pedestrians or lampposts. If there’s an unknown situation, someone can help the robot out safely because it can stop on a dime.”
According to TechCrunch, the robots can only make it to street-level, where the customer has to come outside to pick up their food. Apartment complexes and units would be more difficult for the robot to navigate.
We will be following this story closely and will update as we learn more and as more restaurants begin using Cartken!
Construction has Reached the 49th Floor of the Aston Martin Residences Miami
Aston Martin Residences is a condominium skyscraper currently under construction in Miami. Located at 300 Biscayne Bay Blvd in downtown Miami and situated along the Miami River and Biscayne Bay.
The original plans for this tower were a proposed 66 stories and 817 feet high. According to a source, this tower will now be 70 stories, making it just over 860 feet. These additional stories will include an owner’s lounge among other amenities that will be released to the public as construction continues.
The construction has reached the 49th floor and has almost reached the height of Epic Residences which is directly west of the tower. It has also cleared the Met 1 tower which is directly east of Aston Martin Residences.
Although the tower will be larger than proposed, it will still have its amazing features with 391 residences with studio to 4 bedroom unit options. Floor 56 and above are dedicated to the penthouse units with panoramic views and their own private pools. The building will also feature a full-service marina which will accommodate super yachts!
Although the building size has changed, there has been no official update on when the project will be completed. As it stands, construction is expected to be complete in 2022. We will update this article once we receive more information on this luxury condominium tower!
Elysee Receives TCO – Closings are set to begin in the Coming Days
No, it’s not an April Fool’s joke, Elysee has finally received its TCO! Two Roads Development, the developer of Elysee, has officially received its temporary certificate of occupancy after a five-month delay, which means that closings will begin in the upcoming days. According to our sources, Elysee is approaching 90% sold.
Elysee will be the tallest building in the Edgewater neighborhood standing 57 stories on the shore of Biscayne Bay. Elysee sets a new standard of luxury with its contemporary architecture, designed by Bernardo Fort-Brescia of Arquitectonia. The building was designed with three tiers of different sizes with the largest tier on the top creating a telescopic shape.
With only 100 units (no more than two per floor), this layout creates unobstructed Miami and Biscayne Bay for every unit.
Impact resistant floor-to-ceiling glass windows and sliding glass balcony doors
Two 8-10 foot terraces facing East & West (sunrise & sunset)
360-Degree Views
Savant wireless technology systems
ItalKraft® cabinetry in kitchens and baths
Sub-Zero® and Wolf® stainless steel appliances
Full size washer & dryer
Designer faucets and fixtures
50% of the residences have nanny/maid’s quarters
Two parking spaces per residence
Toto® Toilets
Service and staff elevator(s)
Over 50% of residences have nanny/maid’s quarters
Building Amenities
24-Hour door attendants
24-Hour security and video surveillance
White glove concierge service
On-site automobile concierge
Valet parking
Expansive 30ft wide motor court
Landscape and grounds crew
Robotic parking
Two guest suites available
Storage area
Bike storage
7th Floor Amenities
360-Degree views
75-Foot resort pool
Outdoor summer kitchen & BBQ terrace
Fitness center and Yoga studio
Dedicated men and women’s spa with sauna, steam shower & massage tables
Blow dry bar
Children’s room adjacent to fitness center
Teen room
Two guest suites
13th Floor Amenities
Great room with grand piano
South-facing grand dining room (Seats up to 30 Guests)
Library that converts to private theatre with high-definition projector
Full lounge bar
Chef’s kitchen
Chef’s table with indoor and outdoor seating
Business center
Resident wine storage
Game room
Pricing for Elysee
3 Bedrooms: $.68M – $2.3M with a North Eastern exposure
3 Bedrooms: $1.67M – $2.7M with a South Eastern exposure
4 Bedrooms: $3.2M – $3.8M with a North Eastern exposure
4 Bedrooms: $3.5M – $4.2M with South Eastern exposure
Although there are few units remaining, if you or someone you know has any interest in purchasing a remaining unit at Elysee, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332 for more information.
Closings Have Started for Monad Terrace Miami Beach
Monad Terrace is a new luxury condo tower in the heart of Miami Beach at 1300 Monad Terr, Miami Beach. This boutique waterfront condo development will feature 59 units with two to five bedroom options including four penthouses. According to the property records, seven condos have sold between $1.4 to $8 million.
The developer for the project is Michael Stern, a New York developer who is making his name known in South Florida. One of his other known Miami projects is the Echo Brickell tower. The project’s partners include Stern JDS (principal), New Valley, Ackerman Development and Mink Development. The designer is Ateliers Jean Nouvel along beside architect Kobi Karp.
According to the Real Deal, this tower has been in a planning stage since 2015. Stern and his partners financed the construction with a $137 million loan from a New York based real estate lender, Madison Realty Capital. The 14 parcel development was chosen in 2015 and cost $51 million plus.
In 2019, penthouse B went under contract for $8 million by Joshua Wander, managing partner for a Miami based private equity firm. Within the past 3 months, there has been an increase in sales with units totaling $70 million plus under contract including three of the four penthouses. The remaining units range from $2 million to $12.5 million.
Building Amenities:
Sundeck with swimming pool
Hot tub that overlooks Biscayne Bay
Cafe and Juice Bar
Wellness center
Dock
Bicycle and water sports storage room
Residence Amenities:
Seamless indoor-outdoor living space
Biscayne Bay views
Kitchens designed by Jean Nouvel
Cantilevered marble island
State-of-the-art appliances
Wood ceilings
Reflective Cabinetry
Custom bathrooms designed by Jean Nouvel
Spacious stone countertops
Stone tiled walls
Spacious soaking tubs
Stern will also have a hand in the development of the 62-story Brickell Treehouse tower project that will feature 1,000 apartments, 200 micro-units, hotel, and office space.
If you or someone you know has any interest in purchasing a unit at the Monad Terrace Tower, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332 for more information.
AmericanAirlines Arena Seeks to Change name to a Cryptocurrency Exchange – FTX Arena
Cryptocurrency is heading our way! In a recent announcement, AmericanAirlines Arena will be changing its name to FTX Arena. FTX is a startup cryptocurrency exchange that started in Hong Kong in 2018 and as of 2020, it has been operating in the United States.
In 2019, AmericanAirlines stated that they would no longer have the naming rights to the arena leaving room for Miami-Dade County to negotiate the naming rights.
According to a Miami Herald report, during a county commission meeting on Friday, a tentative $135 million with a 19 year contract has been agreed to with FTX. This also means that the current name residents will no longer be in contract. This pending approval will be the crypto industry’s first leg in arena sponsorships. Also in the agreement, Mayor Daniella Cava received approval for a $90 million share to be allocated towards addressing income equality and gun violence.
The next step for FTX is approval from the NBA for the company’s branding to appear on networks, signage, stadium exteriors, etc. If the logo is not approved, FTX has the ability to withdraw their request at any time.
According to the South Florida Business Journal, there was a few who voted against the proposal; including Commissioner René Garcia concluding that the public did not get an advance notice about the proposal. A county resident also came forward stating, “cryptocurrencies tend to evade regulation and abet money laundering.”
FTX CEO Sam Bankman stated “the entire FTX family is thrilled to launch this partnership with Miami-Dade County and the Heat. Through this partnership, FTX isn’t just putting our name on an iconic building. We are committed to providing value to the growing and diverse community in Miami-Dade over the next two decades.”
MiamiRealEstate.TV is the Newest Addition to Miami Condo Investments
We would like to officially announce our newest project, the MiamiRealEstate.TV website. Since 2014, I had a vision of creating a space for all things real estate in Miami. In that same year, I purchased the domain at auction and have been researching ideas/creating a plan since the beginning. During that time, I knew that technology and real estate would collide and I’m so thrilled that this vision has become a reality!
The biggest difference between this project and what others have done is that these videos aren’t just about myself and my listings. I want to showcase the best Realtors in the area, luxury listings, real-estate developers, city-transforming developments, and other industry-leading game changers.
There are currently five videos available featuring Philip Freedman, the Executive Sales Director of The Ritz-Carlton Residences Miami Beach, and Adriana Brito giving a tour of the Upper Penthouse at Brickell Flatiron. Dora Puig was also interviewed giving a tour of her listing for $38 million penthouse at Icon South Beach (please see above video).
Our hope with the launch of MiamiRealEstate.TV is to bring expertise to Miami Real Estate viewers.
We are so excited for this new adventure and we look forward to growing with you! Be sure to follow @miamirealestate.tv on Instagram and visit MiamiRealEstate.Tv to stay updated with everything real estate in Miami.
