Author Archives: Andres Larin

zaha hadid 1000 museum miami penthouse living room

Unit of the Month: Zaha Hadid Architect’s $20 Million Penthouse at One Thousand Museum

Rising up 62-stories, One Thousand Museum by Zaha Hadid Architects will be one of Miami’s most iconic projects once it is completed. Designed by the late Zaha Hadid, the building’s unique and futuristic exoskeleton is unlike anything Miami has ever seen. Today, we’re taking a look at 1 of 3 penthouses still available–#5301.


zaha hadid 1000 museum miami penthouse kitchen

The living room and kitchen area of penthouse #5301. Photo via Zaha Hadid Architects.

The 5-bedroom penthouse encompasses the entire 53rd floor and is asking for a cool $20.485 million. The open layout offers a staggering 10,000 square feet of living space, including seven bathrooms, two powder rooms, and a media room. The unit boasts views of Museum Park, Biscayne Bay, and Miami Beach, which can all be viewed from the 1,100 square feet of terrace. The design flaunts Italian Lualdi doors, statement apure lighting, and a contemporary Poliform kitchen.


zaha hadid 1000 museum miami penthouse bathroom

The bathroom of penthouse #5301. Photo via Zaha Hadid Architects.

Some of the building’s amenities are located on the top two floors of the building: They include an aquatic center, garden areas, event spaces, health spa and gym, private theater, art gallery and a rooftop helipad.

If you or anyone you know are looking to buy or sell real estate in Miami, please email me at



Brickell skyline 1 - Brickell com

The Ongoing Demand for Brickell Real Estate


Being young is the most powerful element in creating long term wealth with real estate investments. But being young alone does nothing. You must couple it with knowledge and action. And you must be bold. Over time, your investments will grow with inflation, your debt will gradually amortize, and provided you do not sell your best assets, with a little luck you will become immensely wealthy.

And so, exactly how do you acquire knowledge?

Follow the following simple steps with persistence and tenacity:

  1. Pick the one industry that interests you most (e.g., multifamily, office, retail, industrial, hotels, etc.). Focus 100% of your attention on that industry. Later, when you are worth $100 Million+ you will be able to pick a second industry for fun. Focus is the key.
  2. Spend endless hours driving around your city learning everything about different geographical areas. Good areas, emerging areas, gentrifying areas, expensive areas, poor areas, areas where the city is growing into, etc. Notice every little detail about them. Real estate is a highly localized business. Look only in areas you truly understand, or are willing to learn and understand. Notice everything unique and relevant about them. Develop that special eye that separates you from the next guy.
  3. Once you focus your attention on a few areas (tend to stay away from high end areas as economic returns normally tend to be better in more challenging areas that are improving and where you can bring value added), spend endless hours driving around your city inspecting every detail about the specific properties that catch your attention (e.g., size, construction, type of tenants, rental rates, stability of tenants, types of construction, etc.).
  4. Go home and read everything online about your city, the industry you selected (remember, start with only one!), the economics of the type of property you selected, the appraisal methodologies for such properties, the capitalization rates (cap rate) as function of risk, and the best and most successful realtors in that specific market.
  5. Become friends with one or more of the more successful commercial realtors in that industry in your hometown. A good realtor is worth her/his weight in gold. They tend to be friendly and accessible. Simply look up which ones have the listings. Exchange valuable industry information with them from time to time so the relationships flourish. Learn from her/him everything about the business you can. Ask them to put you on their mailing list. Resist negotiating their commissions. Otherwise, you will never get the really good deals.
  6. Befriend the commercial loan officer at your local bank. Ask her/him what is their appetite for financing the type of property you are seeking. If they do not finance it themselves, ask her/him who does and go talk to them. Be sure to always keep up with what terms of financing are available (loan to value/purchase price, interest rates, term, length of fixed rate, personal guaranty requirements). This knowledge is fundamental in this business.
  7. Review closely the most recent sales and focus on the economics of each such sale (e.g., cap rate (which is always a function of location and risk), location, property condition, motivation of seller, special issues with the property, etc.). Be sure you understand where the market (i.e., cap rates, demand, supply, investor appetite) lies at that moment.
  8. Study and ascertain at all times where in the economic cycle you are in at the present moment in time. Values of properties oscillate depending on where you are in the economic cycle. Cycles typically last between 7 to 12 years. You always want to buy at the bottom and never at the peak. Learn to resist the herd mentality. It can destroy your financial security. Buying commercial real estate in 2006 was disastrous to many buyers. Buying in 2010–2011 proved mostly quite insightful and profitable (at least it did for us).
  9. Review online listings periodically (there are many services that offer this service, including some free ones (such as loopnet) and learn more about why certain listings linger longer than others. Normally it is because some sellers aspire unrealistically high prices. Search for “off market”opportunities from local realtors and property owners as these often result in better values.
  10. After following all these steps, write down specifically the attributes of the property you wish to purchase (create an “envelope of attributes”). Include the parameters for price, down payment, financing terms, cap rate, location, condition and how you are going to operate the property (are you going to operate it yourself or are going to outsource management?). Stay faithful to that envelope.
  11. Research every property for sale within your envelope until you land one that meets your established criteria.
  12. Then, arm yourself with as much courage as you can. Then go for it. Use a good local real estate attorney who comes highly recommended. Be extremely disciplined in not exceeding your price threshold. FYI, for me only about one in 10 typically gains traction. Do not despair. Be very patient.

An important element to remember is that if you buy and then sell your entire life, the day you retire you will have little or nothing to show for it. You will have spent your fortune. Instead, always retain your gem properties as these are the ones that over time will make you very rich. Resist at all cost selling these!

Be gentle and conservative. Do not over-extend. Do not over-leverage. Always have cash for a rainy day. When everyone is exuberantly buying, run for the hills. When everyone is frightened and not buying, wait for prices to drop, return from the hills, and carefully purchase the best quality assets you can find. Again, be a contrarian and avoid the herd mentality.

One final piece of advice: Make it a point that every deal you close is win-win-win for everyone involved. You, the counterparty buyer or seller, the realtor and the lender. Always leave some money on the table for others. Make sure you endeavor for everyone to leave the closing table reasonably happy. Always strive to do the right thing. Never be dishonest, nor even betray an appearance of dishonesty in your dealings. These are fundamental principles in this (and probably every) business. It will ensure you be first in line for the best deals, it will make your life (and others) much more enjoyable, and it will make this world a little better place.

The beautiful thing about real estate is that if you follow these simple steps, you will have lots of fun, over time will create great wealth, and you will be able to help others and leave a legacy to your children and your favorite philanthropic cause.

Good luck!

brickell miami skyline

Brickell Rent Prices Aren’t Budging–Yet.

Ranked as the 9th most expensive city to rent in the nation, Miami has seen its rents rise over the course of the last few years. Miami is only behind Chicago and Washington D.C. regarding average median rent cost. The average cost to rent a one-bedroom in this city is $1,800/month, with a two-bedroom checking in at $2,500/month.

Here is how Zumper’s quarterly rental map shows one-bedroom median rent prices across Miami’s most popular neighborhoods (the fall 2016 prices are in parenthesis).  We will take a closer look at the rental market across Greater Downtown Miami.


Brickell: $2,150 ($2,150)

Price Change: 0%

Downtown: $1,920 ($1,970)

Price Change: 2.5%

Edgewater: $1,800 ($1,820)

Price Change: 1.1%

Wynwood: $2,150 ($2,250)

Price Change: 5%

While a surge of new units for sale and rent have hit the real estate market, it is surprising to see that the average prices for a one-bedroom rental in Brickell have held steady. Looking at the prices compared to Fall 2016, Zumper reports that prices have remained the same in Brickell, while only decreasing slightly in Downtown and Edgewater.

However, I still foresee rental prices to trend downwards in Brickell and Downtown this year. There is still another wave of condos coming into the market: Notable projects are still under development, such as Brickell Heights, SLS Lux, ECHO Brickell, and Panorama Tower. Downtown Miami still awaits Biscayne Beach, Paraiso on the Bay, Aria on the Bay, and Miami World Center. This forthcoming influx of even more units will certainly shift the status quo.

If you or anyone that you know are interested in buying, selling, or renting, please call or email us at

echo brickell carlos ott penthouse property markets group

Unit of the Month: Carlos Ott’s Penthouse at ECHO Brickell founder, Andres Larin, examines Miami’s best real estate deals and highlights ongoing market trends.

“Trophy property” is a phrase that gets tossed around a lot in Real Estate coverage. Most contend that a trophy property costs at least $20 million–that price tends to be the benchmark for media reporting and market writers.

When looking into the Brickell market, there is one trophy property that rules them all–Carlos Ott’s Penthouse at ECHO Brickell.  With an outrageous asking price of $41.8 million–that’s $4,000 a square foot–the penthouse will be the most extravagant and expensive condo in Brickell once all is said and done. (ECHO Brickell is set for completion towards the end of 2017.) Why the price tag? Carlos Ott is an award-winning “starchitect” who rose to international prominence after designing the Opéra Bastille in Paris, France.


echo brickell carlos ott penthouse property markets group

Photo via Property Markets Group.

The four-bedroom, 10,305 square foot duplex offers exceptional views of Biscayne Bay and Brickell. The unit features an indoor pool, private gym, private elevator, wine cellar, and over 1,200 square feet of outdoor living space.


echo brickell carlos ott penthouse property markets group

Photo via Property Markets Group.

The developer received an offer of $37 million back in 2014, but for whatever crazy reason, they declined. There have been talks about possibly dividing the space up into three smaller units, but nothing has been confirmed.


echo brickell carlos ott penthouse property markets group

Photo via Property Markets Group.

Read more: January’s Unit of the Month inside 50 Biscayne.

If you or someone you know, are interested in purchasing a luxury condo at Echo Brickell, or the bespoke Carlos Ott Penthouse at ECHO Brickell, please contact Andres Larin. You may reach me on my cell phone at (786) 306-4287 or via email at


echo brickell carlos ott penthouse property markets group

Photo via Property Markets Group.

echo brickell carlos ott penthouse property markets group

Photo via Property Markets Group.

echo brickell carlos ott penthouse property markets group

Photo via Property Markets Group.

echo brickell carlos ott penthouse property markets group

Photo via Property Markets Group.

echo brickell carlos ott penthouse property markets group

Photo via Property Markets Group.

50 biscayne miami living room

Real Estate Deal of the Month: 50 Biscayne, Unit #3211 founder, Andres Larin, examines Miami’s best real estate deals and highlights ongoing market trends.

Located in the heart of Downtown Miami, 50 Biscayne‘s two-bedroom condo unit #3211 has seen a drastic drop in price–it’s original listing price of $425,000 has been reduced to $399,000. This change puts the unit at almost $15,000 less than the next eleven line in the building (unit #3411 is currently listed at $414,900; unit #4011 is listed at $425,000.)  


50 biscayne balcony

Credit: Nuurs Ortiz

The condo is a corner unit featuring a massive wrap around balcony, laminate wood flooring, three large walk-in closets, Bosch and Kitchen Aid appliances, and a Nest thermostat. I don’t forsee this unit lasting on the market much longer considering that the last unit in the eleven line, unit #4311, sold for $437,500 on 12/16/16.  This makes the asking price 8.8% less than the most recent closing in the eleven line.


50 biscayne kitchen

Credit: Nuurs Ortiz

While the market is slowing, the sales in 50 Biscayne have remained rather strong.  The average price PSF is $450 and there have been 37 sales in the last 12 months; this is up from 36 from the year prior.


50 biscayne bedroom

Credit: Nuurs Ortiz

If you are interested in learning more information about this featured property, or the Brickell and Downtown Miami real estate market, please email me at


Aston Martin Launches Its First Condo Amid Slowdown

The 305 will get a dose of 007 when a 66-story Aston Martin residential tower rises at the mouth of the Miami River at 300 Biscayne Way. The UK-based company has partnered with G and G Business Developments on the first branded condo building in its portfolio.

The one-acre waterfront property was sold to Argentina’s Coto family for $125 million, making it the most expensive acre ever sold in Miami. Sales will begin in November with prices exceeding $1,000 per square foot with 390 units starting at around $2 million. A sales center will open in March 2017, with groundbreaking expected in Summer 2017. The completion of the project is slated for 2021.

Despite the fanfare, the timing is a bit odd as development sales have slowed throughout South Florida. But then again, if you are worth $3 billion, what is a measly $125 million?

The boldly designed building will be shaped like a sail, an architectural feat brought to life by Revuelta Architecture and Bodas Mian Anger. According to the announcement release, “EVP and Chief Creative Officer, Marek Reichman, will design the interior spaces including the two private lobbies, the two-level fitness centre with ocean views and the full-service spa amongst other shared spaces in the development. When the development opens in 2021, seven penthouses and a duplex penthouse—all of which will enjoy private pools and spacious terraces—will be complemented by a range of luxury one to four bedroom condominiums.”

Interested in this project? Please reach out to who will gladly provide further information on this project and a deeper insight on the market.

5 Tips For Condo Buying In A Down Market

As the market shifts to a buyer’s market, it’s imperative that you educate yourself on what and what not do when investing in real estate. With thousands of condos to choose from, here are a few tips on how to purchase what’s right for you in a down market.

Do your homework. While buyers have the advantage in a slowing market, that doesn’t mean you should purchase real estate blindly. The first step is to search the internet for listings and gain insight on a particular area. The objective of this research is to get to know the price range in the neighborhood and buildings that interest you. You want to get a realistic sense of what you like within your budget.

Work with the right agent. You should always work with a real estate agent who specializes in a particular neighborhood or market sector. I’ve dealt with numerous clients who came to me because they were working with an agent who “specializes in Miami,” only to learn that they didn’t specialize in anything. Working with an agent who specializes in condos in Downtown Miami and Brickell is very different than working with an agent who sells single-family homes in Key Biscayne. Not that there aren’t agents who specialize in both, but these agents typically have decades of experience in the industry: This could be the difference between making a poor investment or making a great one.

Get your ducks in a row. Being able to move on a deal at a moment’s notice is key in a down market. Cash is king and will always give you more negotiating power; however, if you’re planning on financing your purchase, make sure you get pre-approved for a mortgage in advance.

Don’t be afraid to walk away. As inventory increases, prices gradually begin to drop. In a buyer’s market, there are always plenty of options to choose from. If you feel you are not getting the deal you deserve, don’t be afraid to walk away. The buyer has the power in a down market. Some sellers will refuse to accept that the market is down and aren’t willing to negotiate at a fair market value. Don’t let your ego get the best of you.

young people working

Game-Changing Global Businesses With Brickell Bases

These companies are changing the way we interact with the world, and they’re expanding that change through Brickell.

Skyscanner: Skyscanner, “a global travel meta search engine” that is changing the way people book travel, opened it stateside office at the Sabadell Financial Building in Brickell in 2013. Skyscanner’s flagship office is in Edinburgh. According to Skyscanner’s data, New York City, Las Vegas, Los Angeles, Chicago and Miami lead the pack as American travel destinations. There are also helping thousands pick the best days to book holiday travel

Uber Miami: According to The Real Deal, “the popular transportation app will lease 9,333 square feet in Brickell City Tower, a 33-story office building at 80 Southwest Eighth Street.” While reports vary on the application’s exact worth, the number remains in the billions. 

Twitter Latin America: Twitter’s Latin American office is located at 1395 Brickell Avenue. They announced the opening on social media with the hashtag, #DáleTwitterMiami.

Facebook Latin America: Facebook Latin America has been headquartered in Brickell since 2013. Facebook is considered the second most view website in the world; the first is Google. 

brickell city centre

Apple’s largest store in Florida set to open at Brickell City Centre


It has been rumored for a while that Apple was planning to open a store at Brickell City Centre.  As of yesterday, it’s official according to the South Florida Business Journal and the Real Deal.

Apple signed a lease with Brickell City Centre as of last week.  It’s store is set to be the largest in Florida once opened.  The booming company also has stores South Beach, Dadeland, The Falls, and Aventura.

Luxury stores will be located on the first floor while the premium and contemporary retail stores will be located on the second and third-floor levels.  Anchored by three levels of Saks Fifth Avenue, the project will have street-level access to an underground garage.  The premium and contemporary retail stores will be located on the second and third-floor levels.

The project will also consist of two condominium towers which will are set to open in the next few months.  In addition, there will be two Class A office buildings, and its East Hotel – a luxury hotel chain. The $1 billion dollar project is set to open in the fourth quarter of this year.

Other notable tenants signing in January include the following:

  • Apparel: Armani Collezioni, BDBA, Crocus, Intermix, Koko & Palenki, LIVE!, Orlebar Brown, Rhythm of Grace, REISS, SportsAction, Sundek, 120% Lino, In-Sight
  • Fashion and personal accessories: Addict, Audemars Piguet, Caudalie, Designer Eyes, Font, Italia Independent, Kendra Scott, Kreations, Leetal Kalmanson, Nars, Pandora, Richard Mille, Westime
  • Dining: American Harvest,Taco Chic, Calissons du Roy René, DAVIDsTEA, Santa Fe,Dr Smood, Häagen-Dazs, Luke’s Lobster, Big Easy Winebar & Grill
  • Arts and services: AT&T, Bojanini Art Gallery, Brickell Nail Bar, Musart, Sean Donaldson Hair