First Units Begin To Close At The Newly Completed Echo Brickell

Brickell Avenue's newest luxury high-rise from Property Markets Group and JDS Development Group has been completed and closings are now underway. The first unit to close was unit 1006, a 2 bedroom unit with 1,1110 SF of interior space and a 465 SF balcony, which closed for $560,900, roughly $510 SF. It is currently available to rent on the MLS for $3,100 along with another 5 units which appear to have closed and listed for rent priced from $2,200 to $4,500 /mo. PMG and JDS first began work on the 57-story, 637' Echo Brickell in October 2014. The tower was designed by Carlos Ott with Cohen, Freedman, Encinosa as well as is a limited edition design collaboration between Carlos Ott with interiors by the yoo Studio to create Carlos Ott + yoo. Echo Brickell features 1, 2, 3 and 4 bedroom layouts which range in size from from 610 SF to over 4,300 SF (penthouse). Residence's include smart home technology, summer kitchen, 8' terraces, marble floors and Italian cabinetry. The residences are matched with high-end amenities including an infinity edge pool with bay views & poolside service, hot tubs, fitness center, valet and 24 hour concierge and security. 

Florida East Coast Realty Asks Courts to Overturn Approval of Aimco's Yacht Club Brickell

While some of the world's finest condos are going up all over Miami, each raising the bar over the previous tower, some of Miami's biggest rental developers are beginning to become at odds with each other in Brickell. Florida East Coast Realty has filed a court action to reverse the approval of the NYSE-listed Aimco's approved 61-story Yacht Club at Brickell. Florida East Coast Realty had previously filed an appeal with the city but it was denied by Miami's Planning, Zoning, and Appeals Board. Now, TWJ 1101 LLC, an entity of Florida East Coast Realty, has filed a Petition of Writ of Certiorari. Florida East Coast Realty is upset that the proposed Yacht Club at Brickell could block views from their Panorama Tower. Yacht Club at Brickell would allow Aimco to redevelop the existing 32-story apartment building on the property as well as build an additional 61-story apartment building also on the plot. The 4 waivers given to Aimco including parking reduction, floor plate and setback waivers, are all being challenged by the case. Yacht Club at Brickell will ultimately result in a new 61-story, 690-foot residential rental apartment building as well as the renovation of the 32-story which will feature a hotel, retail as well as residential rental apartments. There will be 750 rental apartment units in the development matched with 250 hotel rooms and 961 parking spaces. Aimco has also applied for a potential of no hotel and 897 rental units. Stantec will be the architect on record. Florida East Coast Realty's Panorama Tower topped over earlier this year and pre-leasing is currently underway. 

Habitat Development Releases New Renderings of Smart Brickell Condo-Hotel

Habitat Development's planned condo-hotel Smart Brickell, designed by Hernando Carrilo, has released new renderings as the project gears up to break ground. Smart Brickell is located in West Brickell and is expected to break ground in the spring of 2018. The project will feature 3 towers with 170 condo residences and 150 hotel rooms. Condo pricing starts at $290,000 and ranges up to $490,000 while condo units size starts at 558 SF and ranges up to 878 SF. Smart features include Nest thermostats, Lifx Wi-Fi-enabled LED smart bulbs, Samsung’s digital home appliances, and a concierge app. Sales launched in phases and the first condo tower is now 35% sold with sales for the second condo tower expected to launch in Q1 2018. Smart Brickell is targeting a 2020 completion. 

“Our goal is to develop a new Brickell for a new generation,” said Santiago Vanegas, President of Habitat Development. “We want to lead the pack for futuristic living in Miami. Combining the elements of Smart Design, Smart Technology and Smart Use, we are providing a Smart solution to residents and guests in Miami. Everybody wants to be Smart.”

CitizenM Hotels Continues Splash in Miami, Buys Perricone's Marketplace Site in Brickell

Last week we reported that Crescent Heights is aiming to bring a CitizenM Hotel to 1212 Lincoln Road on Miami Beach. CitizenM continues to make a splash in Miami as they have purchased the Perricone's site via the entity CitizenM Miami Brickell Properties at 15 SE 10th St next to Allen Morris Park for $16.18 million. The development site is 10,965 SF and the deal reportedly includes a leaseback. It is also reported that Perricone's may open a new restaurant in the new hotel when completed. The hotel would further urbanize the fast-growing Brickell neighborhood which features Brickell Flatiron adjacent to the property, in addition to the new Brickell City Centre, Brickell Heights, SLS LUX (opening December 2017), amongst others. 

Construction Update: Habitat Development's Smart Brickell to Break Ground in April 2018

Smart Brickell will break ground in April 2018 after pre-sales in the first tower reached over 35%. Smart Brickell is being developed by Habitat Development and is designed by Hernando Carrillo. The total project will feature 3 residential towers that will feature 170 condos and 150 hotel rooms with over 30,000 SF of retail in the base. Units range in size from 558 SF to 878 SF and pricing ranges from $290,000 to $490,000. Sales of the second tower are expected to launch in Q1 of 2018.

Brickell City Centre Finally Reveals Their Long-Awaited Penthouse Collection at Rise & Reach

Swire Properties Inc. has unveiled the penthouse collection at their Rise and Reach residential condo towers at Brickell City Centre. The collection features 7 penthouse units which start at $3.95 million and floor-plans range from 3 to 5 bedroom layouts. Units feature 10' to 12' ceilings, marble floors, custom furnishings and interior design by Richardson Sadeki, rooftop terraces complete with outdoor kitchens, hot tubs and pools. The $1.05 billion development was designed by Arquitectonica and amenities include private direct access to Brickell City Centre, outdoor fitness areas, state-of-the-art gym, spa, library, lap pool, residential pool and tropical gardens. 

“The penthouse collection is the quintessential example of how Swire Properties’ vision for the Brickell community has always brought new concepts, innovation with a fresh twist and lifestyle to urban development. There is nothing like this on the market where you’re right in the middle of the action and can have it all right at your fingertips; incredible floor plans, ultimate privacy, elite services, sweeping views of the city skyline and just steps away from top dining and entertainment,” explains Maile Aguila, Senior Vice President of Residential Sales at BCC's Rise and Reach.

Nusr-et, The Infamous Turkish Steakhouse by Salt Bae Nusret Gökçe, is Finally Coming to Miami

Nusr-et, the infamous Turkish steakhouse by the instagram famous Salt Bae Nusret Gökçe, is finally coming to Miami. The restaurant will take the space that was previously occupied by Coya Miami at 999 Brickell Avenue, which recently closed. Nusr-et is currently building out the restaurant which is expected to open in October. Nusr-et is part of the same restaurant group as Zuma and Coya. Coya, which opened in March 2015, had previously leased 8,000 SF at 999 Brickell Avenue. The restaurant space also includes a bar, outdoor terrace and private club area with an additional private terrace. The Miami location will be the 11th Nusr-et location, and they plan to open a New York City location later this year (2017).

Construction Update: Brickell Keeps Rolling as Key International & 13th Floor Investments' 1010 Brickell Receives TCO

1010 Brickell, which was developed by Key International and 13th Floor Investments with Moss & Associates is the contractor of record, has received their TCO. The project was designed by Sieger Suarez and rises 50 stories and is 99% sold of its 352 condo units which range in size from 850 SF - 1,922 SF. Units feature 9' high ceilings, 11' deep balconies. Amenities include "The Club at 1010" a 2-story amenity space which features a heated pool, retractable glass walls, game room with bowling, ping pong and air-hockey; a fitness center with half-court basketball, mini-tennis, soccer, volleyball, a spa and spa with a hammam Turkish bath and steam rooms with hot and cold plunge pools and treatment areas. There is also a rooftop deck that features a lap current pool, treetop restaurant/ lounge and an outdoor movie theater. 1010 Brickell is located at 10th Street and SE 1st Ave. Closings are expected to begin in September (2017). 

Featured Listing: Bay and Ocean View Condo Unit at Jade Residences at Brickell Bay Hits the Market for $1.75 Million

Unit #2501 at Jade Residences at Brickell Bay has hit the market for $1.75 million featuring bay and ocean views. The unit is spread over 1,878 SF and an additional 360 SF of outdoor terrace space featuring 2 bedrooms and 2.5 bathrooms.. The turnkey unit was fully renovated designed by Sharron Lewis Designs and the residence features over $350,000 in custom made furnishings. The 01 line is the most desired layout in the building, showcasing floor to ceiling glass windows on the north east corner with unobstructed bay and ocean views overlooking Miami Beach to Key Biscayne. 1331 Brickell Drive Unit #2501 is listed with Devin Kay of Douglas Elliman. 

“The Jade is one of the best kept secrets in Brickell. It is quite possibly the best managed and maintained building in town, offering residents unmatched amenities and services with irreplaceable views that you can’t replicate with any of the new construction buildings. One of the other great benefits of the location is because you’re on Brickell Bay Drive, you avoid all of the Brickell Avenue congestion and can enter and exit through the south by Key Biscayne, avoiding Downtown Miami and the Brickell Bridge. I’ve sold several units in the Jade and in terms of design, this is one of the nicest I’ve seen in the building.” – Devin Kay, Senior Director of Luxury Sales/ The Carroll Group at Douglas Elliman.

New Arquitectonica Designed Hotel Coming to Brickell's El Eden Motel Site

More change is expected in Brickell as the owners of the lot currently occupied by the aging El Eden Motel, located at 115 Southwest Eighth Street, 726 Southwest First Court and 110 Southwest Seventh Street; are working on approvals for a new project. Tony Cho of Metro 1 Development and Robert Finvarb of Robert Finvarb Companies purchased the property last year (2016) for $18.4 million and aim to develop a mixed-use millenial-driven hotel with a retail component via a joint venture partnership. The proposed design will be designed by Arquitectonica, will rise 24-stories, cover 250,000 SF, cost about $90 million, and feature 263 keys. The project is currently in the approval process.