SLS Lux Hotel & Residences

Yet another development is cruising through construction and reaching for the skies in Brickell. SLS LUX Hotel & Residences is just steps away from the exciting new Brickell City Centre and Mary Brickell Village Shopping Center. SLS LUX will be a five-star experience with world-class amenities and personalized VIP service. The project is being developed in collaboration by SBE and The Related Group along with the Allen Morris Company.

SLS LUX will be a 58-story tower designed by Arquitectonica with a unique LED façade by lighting artist Ana Isabel Martinez. It will feature 450 residences and 85 luxury suites designed by Yabu Pushelberg complete with world-class art. At the top will sit 14 penthouse units with panoramic views of Biscayne Bay.  SLS LUX has private residential elevators, tennis courts, gym, wine cellar, cigar room and a sky lounge rooftop pool. The lobby will feature museum-quality contemporary art by artists Fernando Botero, Matias Duville and Fabian Burgos. will also house a Brickell Katsuya and SBar. SLS LUX will also come with "On Demand" private limousine service to a private beach club. SLS LUX is scheduled to open in 2017. Check out our Instagram for an exclusive video from the top! 

Miami 8th Most Expensive City to Rent in the United States

Zumper has analyzed over 1 million active listings across the United States and Miami is the 8th most expensive city to rent in the United States. The media for a 1 bedroom apartment is $1,870 per month down .53% from last year and a 2 bedroom at $2,150 down 1.57% from last year. San Francisco led the list with a median monthly rent of $3,460 for a 1 bedroom and $4,790 for a 2 bedroom. New York, Boston and San Jose trailed at $3,200, $2,230 and $2,220 respectively. With an oversupply of units about to hit the market it will be interesting to see how the Miami rental market is effected over the next year. 

L'Atelier Residences

A new glass condo building will be coming to 6901 Collins Ave. thanks to a joint effort by three development groups. Given the moniker L'Atelier Residences, the all-glass building will rise 18 stories above Miami Beach. SMG Management, Shamrock Holdings and W Capital Group had a groundbreaking ceremony last week as construction commenced with an expected opening of 2017. 

L'Atelier will replace the Golden Sands Hotel, but will still preserve the hotels historical 3-story facade and incorporate it as part of the new building's design. The building will feature 22 residences in 3 and 4 bedroom formats and will range from 2,300 SF to 4,600 SF. Entry level units starting at $3.6 million with an 8,000 SF penthouse priced at $25 million. Each unit includes massive balconies, outdoor jacuzzi and Poliform kitchens with Gaggenau appliances. Sales started in February 2015. The building will feature amenities by HOLLY HUNT and Enzo Enea including a private beach area with attendants, infinity swimming pool, upper deck lap pool, 24 hour valet, Spa and state-of-the-art gym. This exciting building is sure to shake up the aging area between lower Miami Beach and Bal Harbor. 

Bayshore Grove Opens for Leasing from Terra Group

Bayshore Grove on South Bayshore Drive in Coconut Grove has been completely renovated and the revamped version has hit the market. Terra Group plans to complete the renovation in August and move-ins will begin in September. The 98 unit rental building brings more affordable bayfront living to the fast changing Coconut Grove, which has seen an amazing redevelopment in recent years. Units rent for $1,950 for 1 bedrooms and $2,950 for 2 bedrooms. Revamped amenities include gym and covered parking. 

Brickell City Centre Update: Almost All Units Closed at Reach

Brickell City Centre continues to move closer to final completion. After receiving its TCO in April, Reach, the first residential tower delivered by Brickell City Centre, has now closed on 311 of 390 total units. Of thes, 89 are back on the MLS available for rent and 30 are listed for sale. Investors had planned to rent 2 bedroom units for $4,500 and 1 bedroom units for $3,500, but 15 actual signed and leased units are closer to the $2,700 range for 1 bedrooms and $3,500 for 2 bedrooms. While there is still to be a flood of units to hit the market as SLS Brickell, SLS Lux, Brickell City Centre Rise, etc. hit the market, pricing and demand is still factoring in the construction and fact that Brickell City Centre's retail and entertainment portion of the development will not be open until at least November. East, one of the hotel towers of Brickell City Centre, opened earlier this Summer and closings should start soon at Rise. 

STK Miami Opens in Marquis Residences

The soft-opening of Me Miami has been so far a success, which recently moved closer to being completely open with the official opening of STK Miami in the lobby of Me Miami and Marquis Residences. The zoning permits the liquor license from the nearby late-night nightclubs including Heart and Space, so expect STK Miami to become a hopping place after-hours. The build-out features a modern restaurant concept right on Biscayne Blvd. and third-floor bar. The location is also walking distance from the Perez Art Museum, Frost Science Museum and American Airlines Arena.  

Menin Hospitality to Open Al's Diner in Iconic Former Firestone Service Station

Menin Hospitality continues to grow its footprint on Miami Beach as it has added yet another project to its rapidly growing portfolio. Al's Diner, a 24 our eatery with gourmet treats will replace the iconic Firestone service station at 1500 Alton Road that opened in 1939. The shop opperated as a car service station until early 2016. The announcement brings Menin to 15 projects under operation. Late July, the Miami Beach City Design Review Board approved a variance to convert the properties' zoning to mixed-use retail/ restaurant with outdoor café seating as well as take-out window. ARRP, an affiliate of Crescent Heights will fully restore the iconic cantilevered porte-cochère and the Firestone roof sign.

Spring Chicken coming to 1439 Alton Road

The popular new eatery Spring Chicken in Coral Gables is coming to Miami Beach. John Kunkel will open his new location in 1439 Alton Road, as will Lulu's Nitrogen Ice Cream Shop. Kunkell was able to get a 15 year master-lease on the 3 units in which he previously operation his BTW and Lime concepts. Kunkell calls Spring Chicken "Shake Shack meets Chick-fil-A." He will develop the property into a fast-casual haven complete with shared courtyards to eat. The restaurants should open in late August and early September. Spring Chicken has also recently opened in Fort Lauderdale as well.   

Marinablue Downtown Retail Space Sells for $14.94 Million

Marinablue's ground floor retail space with prime Biscayne bay-front location just recently sold for $14.94. The sale comes out to approximately $1,347 SF and has 7 retail units spanning 11,090 SF. Wine by the Bay has a long term lease on one of the units. The deal was brokered off market with the buyer being European investor Aran Properties. In March CVS signed a 25 year lease for the space with the store opening in July. This is another exciting development in the fast changing Downtown Miami which has seen population rise by over 29% in the past 5 years and brings yet more value to the Museum Park group of buildings which also just saw an STK and Me Miami Hotel open in Marquis Residences. 

Midtown Overview

What has essentially come the unofficial home of Art Basel, Midtown Miami has rapidly been transformed into a hustling and busting city center. The main Midtown development broke ground in 2005 transforming the FEC rail yard into a clean and safe area for recreation and retail. Midtown Miami continues to undergo massive amounts of construction as the area continues to grow with new buildings and businesses opening everyday.

Midtown Miami is wedged between the Florida East Coast Railway and I-95 and spans from North 29th St. to I-195. The project was originally planned as a large-scale urban development with 8 high-rise residential buildings, a hotel, 2 parks and The Shops at Midtown, consisting of shopping, recreation, dining and entertainment. The project would go on to crash 2 years later with only 2 residential buildings completed, but was reinvigorated in 2011 with plans to complete The Shops and continue with development of residential buildings. The Shops at Midtown are meant to simulate SOHO from New York. Art Basel has made its home right in Midtown Miami with Art Miami and Spectrum amongst other shows attracting visitors to the area from all over the world.

The completed residential buildings have become an attractive option for both buyers and renters alike due to the full-service market the area offers. Midtown currently is one of the few places in Miami where everything you could possibly need is in walking distance from your apartment. The area is also kept extremely safe and clean. Midtown 2 and Midtown 4 have been well received by the market and are very hot buildings to buy or rent. Both buildings take cues from New York's SOHO with a "Miami twist" and the pool decks create a popular urban oasis. Midtown Miami is definitely an area on the rise and worth looking into whether you are looking to buy an investment property, personal property or rent your next apartment. 

Top Buildings:

• Midtown 4
• MidBlock
• Midtown 2
• Northblock

New Developments to Watch:

• Hyde Midtown 3
• Midtown 5
• Liner Retail