Tag Archives: miami

Brickell Living May Keep You Safe from Hurricanes

The Atlantic hurricane season officially runs from June 1st to November 30th. Each year, South Florida residents stock up on water, non-perishable foods, batteries, flashlights, first aid items, and prescription medications, just in case South Florida is located in a hurricane track. The peak of the season runs from late August through September, with the most activity taking place on or around September 10th.

With that being said, one of Miami’s safest neighborhoods during hurricane season is Brickell, as the modern condominium and apartment towers in Brickell have been built to meet some of our nation’s strictest building codes. All new constructions are expected to withstand winds up to 175 mph. Brickell is located in one of the regions mandatory evacuation zones, due to storm surge, but, read on to find out what makes Brickell a safe haven during hurricane season.

Brickell - Hurricane Fran 1996

Impact Glass

When a hurricane’s arrival is imminent, most Miami residents worry about putting up storm shutters or boarding up windows; but, Brickell residents don’t have to worry about that potentially dangerous and fastidious task. A large majority of residential buildings in the neighborhood have been constructed or remodeled with hurricane impact glass windows. Said windows have been tested to withstand winds over 145 mph. Fortunately, Brickell residents don’t have to live in total darkness during and after the storm, thanks to strong, shatter-resistant glass.

Vehicle Safety

Vehicles tend to be very prized positions; fortunately, for Brickell residents, most buildings have parking garages where residents can park their vehicles safely. Parking garages keep vehicles safe from falling trees and flying debris. Most parking garages in Brickell are on the 2nd to 12th floors of buildings, making the risk of flood damage to vehicles relatively low for residents.

Power Restoration

Losing power during a hurricane is almost inevitable. However, Brickell residents don’t have to contend to being without power for too long. Brickell is one of the most populated areas of the United States, with an estimated 35,000 people living in the neighborhood, which is just over 1 square mile in size, states the Downtown Development Authority. Brickell is one of the biggest international banking hubs in the nation, so FPL is sure to work diligently to restore power in this “high priority” area.

Food & Beverage Options A Plenty

Brickell has a plethora of places where residents can stock up on food and beverage items such as water, as well as prepared foods. Brickell is home to 3 Publix stores, and countless convenience stores, restaurants, and cafes. Once the hurricane has passed, and power is restored, Brickell will be one of the easiest places in Miami to find groceries and prepared foods.

hurricane florida brickell

Building Standards

Many precautions have been set in place with modern building standards. Some buildings in the area have also been upgraded to tougher construction standards. Many building owners have replaced windows with tempered glass that shatters into tiny cubes, in order to avoid large shards falling all over the streets and sidewalks. Miami-Dade building code requires the first 30 feet of any high rise to be equipped with high impact windows, which can withstand being hit by a nine-pound 2×4 traveling at a speed of 50 feet per second. Above the 30-feet height, Miami-Dade building code is required to use small missile impact glass that can withstand being struck by a small steel ball bearing traveling at 130 feet per second.

With an average of 10 named storms each hurricane season, it’s better to be safe than sorry. Residents living in mandatory evacuation zones, such as Brickell, should plan on where they will flee to ride out the storm, if one comes to the region. However, if staying in your apartment and riding out the storm is the only option you have, then make sure you have enough supplies to last you for a week after the storm passes, in case storm surge flooding cuts off the area to emergency services. Also, if at any point during the hurricane, you feel that your unit isn’t safe enough to withstand the storm, head to the stairwell of your building, as that is the safest and strongest section of any high-rise. Stairwells are sturdy because they are poured-in and reinforced with shear concrete walls. Just be careful that the doors don’t slam shut, or you might encounter a problem with getting out. All in all, just remain calm, cool, and collected during hurricane season.

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 andres@brickell.com.

 

 

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 skyline - Brickell com

The Ongoing Demand for Brickell Real Estate

Supply versus demand is the key component of the real estate market. Investor’s live by this concept as if it were a mandated law. Supply versus demand is a very simple concept to explain and understand. For instance, if there is a low inventory of condos, but high demand from a vast amount of buyers, then the market is “hot” and prices soar per square foot. However, if there is a large inventory of condos, but a low a demand from fewer buyers, then the market slows, as inventory peaks, and prices begin to come down in a scramble to sell more units.

Currently, Brickell is seeing a surplus in units, and not enough buyers to snatch up all the units. Brickell’s skyline is ever changing, and as the skyline changes and grows, so does the market.

In late 2014, Brickell saw a great deal of preconstruction and resale units being purchased by international buyers. That demand remained steady until 2015 when buyers from struggling economies, especially in Latin America, could no longer afford such extravagant purchases.

With the increase in inventory and slowing sales, Brickell’s condo market is seeing a shift in supply. Once where there weren’t enough condos to satisfy the purchasing needs of buyers, now there are too many condos on the market. New buildings, such as Brickell House, Brickell City Centre, Nine, SLS, and Brickell Heights have opened; and, more new developments such as Panorama, Brickell Flatiron and Solitar are slated to open in the near future.

As Miami has a keen fascination with all things brand new and shiny, some of the most recently move-in ready buildings are seeing a decline in sales, while the preconstruction developments are seeing an increase in sales. These new developments are leading to the over abundance of units for sale in the area.

However, don’t be fooled thinking that you can snatch up amazing units for low prices. Units in established high-end buildings like the Santa Maria, Bristol Tower, and Asia are in high demand because of their amenities and waterfront views. Also, in newer and preconstruction developments, penthouses with high ceilings, limited corner units, and units with large terraces are in high demand, and haven’t depreciated in cost or value.

Miami-Dade County has a surplus of $1 million plus units, which most residents cannot afford. With that being said, the demand for rental apartments in Brickell, and South Florida, for that matter, is steadily increasing. Brickell’s population growth and Florida’s current state of low homeownership is what is mostly pushing this demand for rentals.

If you are interested in purchasing a Brickell condo as your residence or as an investment, contact Andres Larin at Brickell.com or at (786) 306-4287. Brickell is currently seeing a development boom with improved public transportation, including an extension of the Metromover directly to the airport and the Brickell Trolley; as well as a boom in luxury dining, entertainment, and shopping. You definitely don’t want to miss out on your chance to own a slice of this cosmopolitan area.

CMX Brings Luxury Cinema to Brickell City Centre

CMX, a subsidiary of Cinemex, the largest movie theater chain globally, has opened it’s first U.S. luxe, dine-in theater at Brickell City Centre.

 

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CMX viewing room interior on Brickell City Centre’s Level 3. Courtesy photo.

Laser projection at the Brickell City Centre location is one of few locations in the world. The app affords convenience allowing customers to purchase advance tickets and pre-order from the menu delivered to their seat without interruption. Popcorn is included in price and WiFi is free.

CMX redefines premium movie-going with a VIP experience that includes: oversized reclining seats complete with swivel table, storage for bags, LED light and service push button in 10 viewing rooms; exceptional service from wait staff; gourmet cuisine; and pre- and post- show entertainment from the handcrafted cocktails by mixologists at upstairs and downstairs bars, to lounge dining areas and TV walls for watching sports.

 

CMX Lobby Bar

Lobby bar and lounge. Courtesy photo.

 

 

 

 

brickell city centre

What To Expect In Brickell In April 2017

A look at what is to come in Brickell during April 2017. 

Swire Properties Inc., Simon Property Group, and Whitman Family Development have partnered with Special Olympics Florida to host the first annual Shopping Olympics at the Brickell City Centre on Saturday, April 1, 2017 (4 PM to 9 PM). Upon arrival, participants will be welcomed with a shopping passport with 20 spaces: When a purchase is made at the store designated to a space, the shopper will receive a stamp of “completion.” Shoppers who secure 20 stamps will be eligible to enter the Shopping Olympics raffle whose prizes include a one-week Norwegian vacation for two, a two-night stay at EAST, Miami, and more.  Click here for ticket information.

 

chef wolfgang birk area 31 miami

Chef Wolfgang Birk of Area 31.

Menu Trotting with Chef Wolfgang Birk continues in April at Area 31 with Northern Italy and the Spanish Basque Country. During the evening, chef will craft limited-edition menu offerings from the globally curated culinary regions. The four course meal is priced at $55 per person (exclusive of tax and gratuity), with an optional wine pairing available for an additional $20 per person. The Menu Trotting series will be available from Monday through Sunday on the last week of the month. Upcoming April dates and regions include:

Monday, March 27 – Sunday, April 2 – Northern Italy

Monday, April 24 – Sunday, April 30 – Basque Country/Spain

modern om meditation banner brickell city centre earth day

Modern OM is hosting a mass meditation at Brickell City Centre on Earth Day (Saturday, April 22, 2017) at 8:45 AM. In addition to raising the community vibe, specific retailers will be hosting Earth Day-related perks and activations. The day’s schedule runs as follows.

8:45 AM – 9:15 AM Doors open and tea served

9:20 AM – 10 AM Earth Day Meditation, led by Luchi Estevez and Jennifer Grace

10 AM – 11 AM Opening of Modern ŌM Popup Store

Click here to RSVP.

 

The Top Brickell News From March 2017

These stories shaped Brickell and Downtown Miami during the month of March. Want to jump ahead? Here’s what to expect in Brickell during April 2017. 

The largest Apple store in Florida opened inside the Brickell City Centre on March 25, 2017.

Mark your calendars: The Phillip and Patricia Frost Museum of Science celebrates its grand opening in Downtown Miami’s Museum Park on Monday, May 8, 2017.

The in-construction Panorama building–now Miami’s tallest building–caught fire on the 60th floor on March 24, 2017.

Another Ultra Music Festival has come and gone. Check out the amazing set designs on World Red Eye. (Feature image: Belvedere x Noisey: Behind the Scene” party aboard The Grand Floridian yacht docked in Downtown Miami.)

Get a look at World Resorts’ proposal to redevelop the Omni terminal. March also marked the opening of Omni Park: Follow them on Facebook for park events and updates.

omni park miami trees

Photo via Omni Park’s Facebook.

 

 

 

 

 

 

dashi scallops caviar river yacht club miami

New Brickell Restaurants To Try Now

These recently revealed restaurants are Brickell’s new fantastic four. From buzzed about pizza to reimagined Japanese, we recommend visiting these spots as soon as possible. 

Mister O1

“That famous hidden place” with the infamous name change has opened a second location–Brickell’s Mister O1 (formally known as Visa O1) outpost sits on South Miami Avenue, not far from Mary Brickell Village. That means no more schlepping to Miami Beach for a bite of their star pizza or loaded calzone. A Wynwood location is also coming soon.

Dashi

The River Yacht Club has opened Dashi, a progressive Japanese concept backed by Chef Shuji Hiyakawa–a protégé of Iron Chef Morimoto. The waterside restaurant features delicate but delicious hot and cold plates, including mouth-melting white fish karaage and an equally lovely sea bass miso. Don’t skip dessert, either: Sesame chocolates and a tofu custard are delightful finishes. (Feature image: Scallops and caviar)

Big Easy Winebar & Grill

A taste of South Africa has come to Brickell City City with Big Easy Winebar & Grill. The joint venture between Ernie Els (the former world’s top golfer who was affectionately nicknamed “The Big Easy” due to his stature) and Grove Bay Hospitality Group. The bustling bar flaunts multiple TVs while the dining area keeps things warm and inviting with amber lighting. Order up the bison, risotto, and flatbread to leave feeling satisfied.

 

yaku by la mar brickell key

Photo courtesy of Mandarin Oriental, Miami.

YAKU by La Mar

YAKU by La Mar is now open on the Mandarin Oriental, Miami’s northern terrace. The outdoor space emphasizes Peruvian-inspired punches and bites, including classic cebiche and mussels: Don’t skip the quinoa burger (the featured photo). The concept brings a social element to La Mar’s waterside location.

 

 

brickell city centre climate ribbon

The Apple Store Brickell City Centre Opens March 25

The rumors are true: Brickell City Centre is getting its own Apple Store and it is set to open on March 25, 2017 at 10 AM on the shopping centre’s second floor. Construction workers are onsite around the clock to get the latest tech outpost up and running: We spotted them working as late as 11 PM on March 15. The announcement is live on the Apple website.

Miami.com broke the retail news, highlighting first-time perks that the new Brickell location will offer: There will be a group of “Creative Pros,” a “Boardroom,” and “The Forum.” The overall idea is to create a hub-like experience.

Senior Market Director for Apple Retail, Enrique Atienza, explained each concept to Miami.com. Apple’s “Creative Pros” are specialists in their fields–“We have photographers, bakers, comedians, we even have a fire dancer.”– that were tapped to show shoppers how Apple products can help them maximize their businesses, passions, and endeavors. Miami.com goes on to explain Apple’s “Boardroom” and “The Forum.”

“Apple Brickell City Centre will also have the first Boardroom in the Miami. This is a spot reserved for entrepreneurs, developers and business customers to get hands-on advice and training which could potentially become a hub for downtown’s burgeoning financial sector.

Another exciting feature is The Forum, a gathering space anchored by a video wall that will host educational events for kids and teachers, sessions for tech creatives, game nights and other programming, premieres and workshops with visiting tech experts, artists and musicians.”

Apple’s presence will be the most prominent opening since Brickell City Centre’s November 2016 unveiling. Other recent debuts include Acqua di Parma and Kendra Scott. MAC, Zara, and Centrale–a three story Italian food emporium–will open by year’s end.

 

 

 

what she said w south beach jill and jennifer

Business Advice From Television Personality Jill Martin and OVC’s Jennifer Miller

As W Hotels’ What She Said series continues to gain momentum, its most recent edition crossed the bridge over to the W South Beach: There, sportscaster and television personality, Jill Martin, joined QVC Creative Director and jewelry purveyor, Jennifer Miller, for a chat on entrepreneurship. CBS4’s entertainment and lifestyle reporter, Lisa Petrillo moderated the business-centric chat.

After spoiling guests with nibbles and bubbles, the group moved to outdoor stage area, propped just steps away from the beach. Until now, all the panel events had been held inside, but this evening’s chat was surrounded by WET’s palm trees, flowers, and elegant awning stripe lounge seats.

 

lisa petrillo what she said w south beach

Lisa warms up the crowd at What She Said. Photo via W South Beach FB.

Petrillo eased the crowd into the conversation with lighthearted chatter before delving into the two women’s notable careers. The takeaway: Throw as many darts as you possible can.

Lisa Patrillo: What is the key to be a strong woman in today’s world?

Jill Martin: Don’t kill yourself in trying to have it all at once: It’s a numbers game with life.  Expect the “no’s” and eventually you’ll get a “yes.” Throw 100 darts, [and] the odds [are]10 will stick. And don’t be afraid to ask for help because that’s how you will grow in all aspects. Remove the pride; it will get you nowhere.

Jennifer Miller: Be goal-oriented, stay humble, and listen to your team as a leader.

LP: How do you feel about social media?

Jill: It’s definitely impacted my career, but I have to disconnect every now and then. Realize that some social posts are NOT real. We see the “best” version of people. There’re filters, there’s photoshop and tons of other apps that–let’s just say–exaggerate the truth. Then we’re all competing to keep up.

Jennifer: I hire people to manage my social media. I don’t even touch it!

LP: Who inspires you?

Jill: My aunt Harriet. Growing up, I remember she was a fashion designer and her clothing was sold at Saks and at Neiman Marcus. At a very young age, she exposed me to be different. When I was in my 20’s, she lent me $2,500 to start my own business. And she pushed me to follow my passion. She had a major influence on who I am today. I’m also very inspired by music. [Music] creates my mood everyday and affects my motivation and how I run my business.

Jennifer: My mom. She pushed me to be who I am today and instilled all the values that still are important to me.

LP: What are your closing remarks to our younger generation?

Jill: I have just as many failures as I have successes in my career. It’s a journey; enjoy the ups and downs. Don’t get stuck on only one dream! You need to find new dreams if one isn’t working out. Take a pause in life.  Sometimes life will force you to take one, and be ok with it.  We’re always on-the-go as women and we’re trying to have it all. It never happens exactly the way we want it to. If you don’t take a pause you will burn out; you will hit a wall and it will just set you back.

Jennifer: Take the pause and just come back when you’re ready and pick up where you left off and don’t feel guilty for taking that pause.