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Everyone who lives, works, or visits Brickell have become all to familiar with the giant duck perched at the corner of South Miami Ave and Coral Way (1300 South Miami Ave to be exact). Well the duck has been shipped off and has found a new home. SLS Brickell officially broke ground today and I have to say that I am very excited to see this project built.
The SLS Brickell, developed by the Related Group and designed by Phillipe Starck, will feature 450 units and reach 51 stories. Additionally, the project will feature 4 restaurants such as Katsuya by Stark, Bazaar by Jose Andres and Michael Schwartz of Michael Genuine. SLS hotels will bring a great brand to Brickell which will be the anchor of South Miami for years to come. The project is projected to be completed in the first quarter of 2016.
Having sold a few units in this project, I can say that this project was one of the quickest projects I have seen sell out since the real estate market has bounced back. The project has it all – great views, central location, amazing finishes & amenities, as well as a renowned developer, designer, and hotel to back it up. The building will also have a Hyde bar & lounge which has seen tremendous success on Miami Beach.
The project has sold all of its units except for a few units on the penthouse levels. The average price per square foot is approximately $500-$950/sqft depending on the floor plan, level, and view. The majority of buyers have been foreigners – particularly Venezuelans & Brazilians who continue to pick up condos throughout South Florida.
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Video: SLS Brickell