Tag Archives: Miami Real Estate

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As we’re all dealing with the effects of COVID-19 in our lives, I want to share encouraging news: the government has approved the $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act which will help millions of people in this critical time.

This sweeping legislation is unprecedented in the history of our nation and provides significant economic assistance to address the impact of the COVID-19. The CARES Act is over 800 pages long, but here are some of the economic provisions most relevant for you:

If you’re eligible for a cash payment

Most individuals earning less than $75,000 can expect a one-time cash payment of $1,200. Married couples would each receive a check and families would get $500 per child. That means a family of four earning less than $150,000 can expect $3,400.

If you or someone you know has a lost a job

States will still continue to pay unemployment to people who qualify. This bill adds $600 per week from the federal government on top of whatever base amount a worker receives from the state. That boosted payment will last for four months.

If you’re a small business owner

The bill provides $10 billion for grants of up to $10,000 to provide emergency funds for small businesses to cover immediate operating costs.

There is $350 billion allocated for the Small Business Administration to provide loans of up to $10 million per business. Any portion of that loan used to maintain payroll, keep workers on the books, or pay for rent, mortgage and existing debt could be forgiven, provided workers stay employed through the end of June.

If you’re a freelancer or independent contractor

Typically, self-employed people, freelancers and contractors can’t apply for unemployment. This bill creates a new, temporary Pandemic Unemployment Assistance program representing $600 per week through the end of the year helping people who lose work as a direct result of the public health emergency.

If you would like to learn more about all the contents in the CARES Act, please see this article:

Please do not hesitate to reach out should you have any questions, or if you would like to chat.

Stay safe and healthy.

Andres Larin

Should you buy or rent in Miami?

Elysee Miami panoramic view Brickell.com

To buy, or not to buy and rent instead, that is the question. For many of you who are planning on moving to Miami in the near future, or even those of you who already reside here, you might often ponder this quandary and find yourself groping for answers in the darkness. Well, we got some good news for you: a recent housing study, conducted by Trulia, has found an answer to this troubling question. The verdict? Buying a house in South Florida is definitely cheaper than renting.

To solve this puzzle, the average costs related to both buying and renting were calculated. In Miami-Dade, the median price for single-family homes and condos was roughly $241,000 in September, versus the $1,955 median monthly rent (In Broward, the numbers were $200,374 compared to $1,750). As far as down payments went, the study assumed that buyers would put 10 percent as a down payment.

After they “mathed” things up, it was found that buying is 43 percent cheaper than renting a home in Miami Dade County, and 44 percent cheaper in Broward. This is because renters in the southern end of the Sunshine State spend more per month on renting than they would on a mortgage without the benefits of building equity in a home.

Elysee Miami aerial view 02 Brickell.com

Although it is better to buy a house or condo, this is easier said than done. There is always much competition for the good deals on the market – many investors have been flocking to Miami to invest in condominiums and houses in the recent years, as discussed in a previous blog post. To make matters harder, the amount of houses and condos on the market for sale number a lot fewer than those for available for rent. In the coming years, Miami’s apartment pool will increase by 3,200 units, 1,000 of which are coming in 2016.

Despite buying being cheaper than renting, in the end it is ultimately up to you. Are you looking to invest, settle down, or own a getaway home? Or are you simply looking for short-term housing? Regardless of your answers to these questions, the Brickell.com team is always available to help you in your apartment search and is only one click or one call away (786-306-4287).

 

Based on: http://www.miamiherald.com/news/business/real-estate-news/article40508565.html

Introducing Elysee Miami: Miami’s Newest Luxury High-Rise

ElyseeMiamiEarlier this month, the first renderings of a new, rather slim condo tower were released under the name Elysee Miami. The development will, without a doubt, offer more luxury than any other building in Edgewater. Rising to 57 stories, the entire project will only house 100 apartments, meaning that there will be 2 condos on every floor (which of course implies a surplus of living space per tenant).  Prices will start at $1.65 million.

Located directly on Biscayne Bay in East Edgewater, Elysee Miami is situated in a very central site. If you travel for only a handful of minutes in any which direction, you can find yourself in Miami’s Design District, Wynwood Arts District, Miami Beach, Midtown or Downtown Miami; all of which provide as much of the finest dining, luxury shopping, world-class art, and high-end entertainment that you could ever want.

Elysee_MiamiAs for Elysee Miami’s other seven floors, the 7th and 30th floors will offer tenants top-notch amenities. On the former of the two, a 75-foot resort pool will be accompanied by a summer kitchen and BBQ area, a fitness center and Yoga studio, a spa, a children’s room, a teen room, and two guest suites. On the latter you will be able to find a great room containing a Steinway piano, a chef commercial kitchen with a chef table, a ‘grand dining room’ which can seat up to thirty people, and a library that converts into a theater. To top things off, and to guarantee the comfortable life of the development’s residents, the project will offer white-glove concierge services, private high speed elevators, decorator ready residences, floor-to-ceiling glass windows and sliding doors, nanny quarters, 2 parking spots, and, to put a cherry on the top, a robotic parking garage.

As can be expected from developments of this sort, the façade and interiors will be naught less than mesmerizing. The architectural design will be carried out by Arquitectonica, the first and foremost designer for South Florida’s high-rises. The interiors of the project will be impeccably designed by interior decorator Jean-Louis Deniot.

If you are interested in Elysee Miami, or any other developments in Miami, feel free to contact the Brickell.com team at (305) 379–0203, or leave an inquiry by clicking here.

One Brickell City Centre Approved

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The $1.05 billion mixed-used development Brickell City Centre is, once again, the talk of the town. A little under two weeks ago, the Federal Aviation Administration (FAA) finally approved the height of One Brickell City Centre, which is to stand as not only the tallest buildings in Miami, but one of the tallest in the entire nation.

The proposal was submitted 20 months ago, and after careful scrutinization, the FAA declared that the 80-story high One Brickell City Centre would not pose a threat to air traffic. Swire Properties’ new tower will rise to a whopping 1,040 feet above ground level, or 1,049 feet above sea level. This behemoth will host a mix of retail space, class A offices, condominiums, and a five star hotel. At ground level, you will be able to enjoy a grand plaza and retail shops, and only in a 1,040-feet-elevator-ride away, you will find yourself in a lounge and restaurant which offers bird-eye views, and which, by the way, will be open to the public.

The approval of the FAA is not only significant to this one project, but also to the entire downtown area, which might start seeing the rise of taller and taller buildings. Previous to this consent, towers in the area had been restricted to 1,010 feet above sea level, which was revised, as stated above, to 1,049 feet. This change will also require revisions in the takeoff and landing procedures at Miami International Airport. Unsurprisingly, there are parties who are not in favor of the new height, mainly airlines, as it could affect the fuel requirements for planes passing through Miami, due to the altered climb gradients and raised minimums for approaching aircrafts. Those who oppose the adjustment will have until August to file an objection.

In other news concerning Brickell City Centre, Debora Overholt, the retail executive for the development, affirmed that retailers are in advanced talks to lease 450,000 of the 500,000 square feet of the project. She also explained that high-end retailers will occupy the first floor, which obviously has the highest rents, while the second floor will be rented by middle-market merchants, and the third floor will include a variety of dining locations. Of the 500,000 square feet of retail space, 180,000 of it are going to Saks Fifth Avenue, where there will be a Cinemax luxury movie theater.

Personally, I am very excited for this development, as I have probably mentioned in previous blogposts. Brickell City Centre will offer pretty much everything Rise and Reach residents might need, and it will be only an elevator ride away. Any shopping, dining, and entertainment you might desire could be directly below you. The project will be opening in about one year’s time, so for all of you who are interested in living here: the clock is ticking. If you want to learn more about Brickell City Centre you can check out our other blog posts or click Contact Us.

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Solitair Brickell Broke Ground Today!

Solitair Brickell pic 3Earlier today, one of Brickell’s most anticipated pre-construction projects, Solitair Brickell, broke ground. The condo tower, which is scheduled to open in late 2017, will stand at 50 stories tall, house its tenants across 438 luxurious units, offer 440 parking spaces, and host 7,469 square feet of ground retail. Situated at 86 SW 8 Street, between the massive Brickell City Centre and Mary Brickell Village, Solitair Brickell will be located at a very central spot. Solitair residents will be also be provided with a covered walkway to the metro, providing an unparalleled convenience to shopping, dining, and entertainment, especially once the surrounding projects are completed.

Solitair, which will offer sweeping views of Biscayne Bay, Miami Beach, downtown Miami, and the Brickell skyline, was carefully designed with environmental concerns in mind. Due to its design and orientation, the tower will avoid direct sunlight and solar radiation. Through low emitting materials, the interiors will ensure optimum indoor air, and many of the resources used will be eco-friendly. The resulting interior design, which will be adorned with bold artistic decors, will reflect the sophisticated and modern living that Solitair will provide. The iconic tower was designed by ADD Inc.

This project is being developed by the luxury multifamily real estate developer ZOM, which is based out of Orlando, and its joint venture partner, AIG Global Real Estate. Earlier this year, ZOM acquired the permit to demolish the ramp that connects to the parking garage of the neighboring Brickell Bayview Center office tower; the dismantling of this ramp was carried out earlier this week, prior to the groundbreaking. ZOM has earned over 100 industry awards and partaken in the development of more than 15,000 apartment units throughout its 30 years, including its other downtown Miami rental project, Monrac at Met 3, which is currently under construction. Between the two towers, ZOM has a total of 895 rental units in downtown Miami. The construction of Solitair Brickell is being carried out by Balfour Betty and being financed by JP Morgan Chase and HSBC Bank USA.

Although the prices for Solitair have not been released, if you have any other questions concerning the project, or about any other development in the Brickell area, do not hesitate to contact the Brickell.com team.

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From Big Hole to Miami’s Tallest Building?

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In December 2014, the ‘big hole’ in Brickell, the land that was formerly to be Capital at Brickell, and afterwards, Capital Brickell Place, was sold for $74.74 million. The buyer was a subsidiary of Chinese construction company China City Construction and New York based America Da Tang Group. What the purchaser had in mind when it came to this huge slab of unoccupied land was unknown…until recently. Although it is not known for sure, the word on the street is that they plan to build the tallest building in Miami, according to The Next Miami, and they supposedly already have preliminary approval for the project. Please note that this is not known for certain at the moment, as the only source is supposedly on company China City Construction’s website, which is in Chinese, and the America Da Tang Group has not released anything concerning the matter.

Miami’s Top Penthouses: The Definition of the Good Life

It is well know that life in Miami is very luxurious and extravagant, however very few get to experience the higher end of this spectrum. This lavish lifestyle is only obtained by having the nicest of nice, that is, the top penthouses on the market. So without further-ado, I present to you the definition of ‘the good life’:

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10. The W South Beach Penthouse: $17,900,000

The Penthouse at the W South Beach, which is located in Miami Beach, comes adorned with leather covered walls, crocodile textured doors and marble flooring found throughout the entire penthouse. It also hosts 12 foot ceilings with floor to ceiling windows in every room, which offer direct water and city views. The penthouse has three rooms and four full bathrooms, one of which has a Japanese soaking tub. It also includes a home automation system which controls the audio, visual, lights, air conditioner and sun shades, all directly from an iPhone.

 

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9. The Echo Brickell Penthouse: $18,743,000

The Echo Brickell Penthouse, which is to be released by 2017, will consist of four bedrooms, five full bathrooms, and a half bathroom, adding up to 5,050 square feet of living space. The interior will be fully customized by interior designers Carlos Ott and Yoo.

 

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8. The Bentley Bay South Penthouse: $18,900,000

Unlike the two penthouses seen so far, the penthouse at Bentley Bay encompasses two floors, the entire 23rd floor and most of the 24th. The penthouse has four bedrooms and 5 and a half bathrooms, which sum to a total of 6,000 square feet. The penthouse comes fully equipped with a private rooftop pool and Jacuzzi, a private gym, steam rooms, an outdoor bar, a pool table, and a full wet

77. 360 Oceana Key Biscayne Penthouse 02S: $19,000,000

Penthouse 02S, along with its twin, are the second largest in the list, boasting 13,159 square feet, 7,616 of which is divided into seven bedrooms, seven bathrooms, and two half bathrooms. The remaining 5,543 consists of rooftop terraces, which includes an infinity pool, a summer kitchen, a barbeque area, and a wood-flooring sunrise deck. All rooms soar up to 12 foot ceilings.

 

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6. 350 Oceana Key Biscayne Penthouse 02N: $19,000,000

This penthouse has the exact same layout as its twin, and they share the same amenities. The Oceana at Key Biscayne includes state-of-the-art facilities, amongst them, but not limited to, a fitness center, a spa with saunas, a tennis court, green spaces, an art gallery, a poolside restaurant, and more.

 

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5. 350 Oceana Key Biscayne Penthouse 01N: $23,000,000

The crown of the largest penthouse goes to Oceana Penthouse 01N, which is comprised of a whopping 18,000 square feet. The penthouse is divided into five bedrooms, seven full bathrooms, two half bathrooms, a large family room, a home theater, a private gym, private rooftop with an infinity pool and decks, and a library.

 

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4. Château Beach Penthouse in Sunny Isles Beach: $26,000,000

If high ceilings are your thing, then this penthouse is for you. The Château’s ceiling soar at 24 feet; that’s at least twice the height of every other penthouse seen so far. Oh, and the walls are actually windows, allowing for the most gorgeous of views over the Atlantic Ocean. On top of this, the wooden pool terrace allows for unparalleled relaxation before majestic water views.

 

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3. Palazzo Del Sol Penthouse, Fisher Island: $26,411,500

The penthouse at this Mediterranean-style project is crowned by a rooftop pool and deck developed by Enzo Enea, which has a Zero-edge pool, a Pergola and a summer kitchen. From this deck, views of Star Islance, Biscayne Bay, the Atlantic Ocean, and SoFi can be admired. The elevator which leads to the penthouse opens up into an expansive living area with 18 feet ceilings. The penthouse has four bedrooms and four and a half bathrooms.

 

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2. The Edition Penthouse, Miami Beach:  $27,500,000

This penthouse, which envelops floors 16, 17, and 18, and is connected by a $1 million teal stair case is comprised of four bedrooms and four and a half bathrooms. The penthouse features 180-degree views of the Atlantic Ocean, Miami Skyline, Biscayne Bay, and South Beach. The indoor/outdoor rooftop lounge is equipped with a trellis-covered dining area and a summer kitchen, while the indoor kitchen is a custom designed Bulthaup kitchen. To put the cherry on the top, the penthouse includes room service and housekeeping, allowing for one to experience the true definition of the luxurious lifestyle.

 

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1. The Mansions at Acqualina Penthouse in Sunny Isles Beach: $50,000,000

This 5 bedroom penthouse is the definition of excessive luxury – if such a thing were to exist. The penthouse is accessed through an all-glass elevator which leads to a pivot entry wall, reflecting pools in the living room, a 25 foot waterfall, disappearing glass walls, nearly 100 foot long master suite, two outdoor kitchens, a glass wine gallery, a billiard room, a home theatre, a glass bottomed pool and Jacuzzi… the interminable list goes on and on.

Miami’s Oldest Bar Closes After 102 Years

Tobacco Road Street

As of Saturday October 25th, the once-oldest bar of Miami – Tobacco Road – is now officially closed. Since it opened in 1912, Tobacco Road was located at 626 South Miami Avenue, and for the past 102 years it was the best of hosts to those whom happened upon it in search of alcohol, delicious food, and live music. Sadly though, the tavern will bid its goodbye as a new condo building will soon occupy the lot on which it sat.

Back in 2012, this land was purchased for $12.5 million by developer Carlos Mattos. Shortly after he bought the land, Mattos struck a deal with the Road’s owner, permitting the bar to stay around a couple of more years while Mattos weighed his options for his newly acquired asset. Now that he has made his decision, the apartment building-to-be will fit in nicely into the area, as across from where the tower will be raised, the Brickell City Centre is undergoing construction (a mega-project which includes 780 condominiums, 263 hotel rooms, 260,000 square feet of office space, and a shopping-center).

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For those who were regulars at Tobacco Road though, do not despair! The Road’s general manager, Joel Rivera, bought the bar’s name and plans to reopen it not too far from its original location. Rivera has shown interest in a locale at 69 SW Seventh Street, which is right across from the Brickell City Centre. Additionally, the bar’s name will also live on aboard a Norwegian cruise ship, the Escape. The Tobacco Road that will open on the ship in November 2015 however, will not be the same as it was in Brickell. This bar will not serve the Road’s trademark burger, or any food at all for that matter, and will not host live music, but rather it will focus on serving exquisite cocktails and drinks of the like.

 

Real Estate Seen as the Top Investment for 2014

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In an article published by Bloomberg describing a finding by Morgan Stanley’s wealth-management unit, it was reported that  The team found that 77% of investors that have at least $1 million in assets own real estate. In the survey released amongst investors, the teams asked what the top alternative-investment picks were for 2014. What investment claimed the top of the list? Direct ownership of residential and commercial properties. 33% of the surveyed millionaires stated they planned to buy property this year. 23% of the investors claimed intentions to invest in real estate investment trusts, the second-most popular choice.

The U.S.  real estate market is attracting wealthy investors since it has been on the rebound for a while now, as currently fixed-income yields are very low whereas equities are soaring. Also contributing to the increase in domestic investment is the rise in foreign investment in U.S. major cities. As foreign investors allocate their money in the U.S., competition spawns which in turn drives prices up. To read more about the effects foreign investment is having  on the Miami real estate market, follow this link: https://brickell.com/foreign-buyers-boost-miami-real-estate-market/.

This trend of investment is already notable. Many pre-construction buildings have already completely sold out, among them Icon Bay, Brickell House, and Millecento; others are already on this path and more are sure to follow. If you are interested in investing in Miami or merely interested in educating yourself in real estate investment, do not hesitate to call us at (305)379-0203; we’re only a call away.

Brickell Market Might Give Life To Unoccupied Land

Brickell Market 1-3The uncharacteristic lot which resides under the Metrorail tracks, starting from the Brickell Metrorail Station and stretching north, and next to the Brickell Citi Centre plot, might possibly flourish into something considerably fancy as opposed to the unoccupied patch of land that currently exists. This prospect was proposed by landscape architects and husband and wife team Douglas Thompson and Ebru Ozer, whom strive to develop “landscapes of enduring beauty with environmental awareness.” The envisioned project Thompson and Ozer have pieced together for this lot is called ‘Brickell Market’.

On their website, Thompson and Ozer describe the project as follows:

Brickell Market repurposes an underutilized space under an elevated commuter train corridor in the Brickell neighborhood of Miami, Florida as a new civic space for a farm market, outdoor cafes, and beer garden.  It experiments with the idea of transforming of traditional infrastructure to green infrastructure that can respond to the environment.  In addition to its active programming, the design also focuses on capturing and treating stormwater from the overhead rail structures and adjacent street surfaces utilizing raingardens with native planting.

The two are attempting to meet with the county to have their Lincoln Road-like esplanade, Brickell Market, become more than just pen on paper.

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