A project that will become known as "18" is coming to Brickell and will replace the strip mall with the Burger King located right next to Brickell Mary Village, Brickell City Centre, Brickell Heights and SLS Lux at 10 SW 8th Street. This last undeveloped lot has become dwarfed by the neighborhood around it and is in need of a desperate redevelopment. City Center Properties, LLC. is the developer on record for the proposed 78-story tower which will rise 950 feet. The first four levels will be 66,618 SF of retail before breaking to 392 residential units on the upper levels. The project will be designed by NBWW as the architect and plans are currently under review by Miami's Urban Development Review Board this month. The tower will bring even more residential units, traffic and retail to an area which has seen immense growth over the past 5 years.
Featured Listing: Sunset Island's Todd Michael Glaser, 2305 Lake Ave.
The modern waterfront by Todd Michael Glaser and Ralph Choeff at 2305 Lake Ave. on the Sunset Islands neighborhood of Miami Beach has hit the market for $19,500,000. This estate features 8 bedrooms, 9 bathrooms, and 3 half-baths over 10,090 SF. The modern main house has an open floor plan complete with gourmet kitchen, hanging sculpture with the staircase, a 3rd floor private deck with pool, ground level reflection pools, views throughout, gym, custom garage and a 2 bedroom attached guest cottage. The house also features an outdoor entertainment area with summer kitchen, main pool and the lot has 150' of direct waterfrontage with a private dock and views of South Beach. Photos and listing by Michael Martinez of One Sotheby's International Realty.
La Centrale, Miami's First Italian Food Hall Coming to Brickell City Centre
La Centrale will be the new Italian Food Hall in Brickell City Centre, the first of its kind in Miami. The eatery will be three-stories tall and 38,000 SF with a "restaurant-forward concept." It will include Italian restaurants, cafes, an enoteca, culinary school and retail space. The first floor with be a "multi-sensory convivial vibe driven by true Italian hospitality." This will include coffee, bakery and homemade pastas. The second floor will feature original restaurants and a gelato shop. The third floor will feature interactive events including wine tastings, food pairings, the culinary school and food programs.
New Renderings Released of Aston Martin Residences
New renderings of Aston Martin Residences have been released and the inspiration drawn from the DB11 for the building's design is beginning to grow apparent with the sales center scheduled to open in mid-May and an October ground-breaking. The building's interiors will feature lighting and handmade detail based on the car in addition to hand-adorned residence door numbers from the same jewelers that place the logo on the hood of Aston Martin cars. The building will features floor-to-ceiling glass with no visible concrete, including glass encased support beams. The developer has also upgraded the amenities and has purchased a beachfront plot on Virginia Key and will build an Aston Martin Beach Club for residents accessible by the building's yacht. Units start at $500,000 and range up to $7,000,000 for the "River and Panoramic Residences" part of the building and $14,000,000 to $35,000,000 for the "Penthouses." The ultimate unit will be a triplex penthouse that comes complete with a private pool, helipad and Aston Martin Vulcan.
Read our December Introduction on Aston Martin Residences and our coverage of the initial announcement.
Listing Round-Up: Sunny Isles 3 Bedroom Condo's For Sale
Sunny Isles Beach has been one of the most exciting places to live over the past five years. Some of the finest buildings in the world have been built in the area and there is no shortage of over-the-top, luxurious beachfront condos. Here are some of the hottest listings for sale in Sunny Isles across a variety of price ranges.
1. Under $1 Million: St. Tropez on Bay | 150 Sunny Isles Blvd Unit #1-602 | $830,000
Contemporary move in ready 3 bedroom 2 bathroom condo at the St. Tropez offers high-quality living at a great price. The residence features an open-flowing living & dining area encompassing 1,461 SF of living space. Floor to ceiling glass windows and wrapping balcony provide panoramic city and partial canal views. Open kitchen with all new appliances, and custom cabinetry. The master suite is spacious with walk-in closet & master bath with marble/glass shower and sunken tub. A truly exceptional private residence in Sunny Isles Beach. Listed for $830,000 with Demetri Demascus of Spectrum Realty Group, LLC. ML# A10120048
2. Under $1.5 Million: Turnberry Isle South | 19667 Turnberry Way #25J | $1,475,000
High-style living with amazing views in Turnberry Isles South. Contemporary and upgraded finishes include marble floors, Italkraft kitchen, Bosch appliances, wine cooler, custom closets, remodeled bathrooms and recessed LED lighting. Open living plan lets the views be seen throughout. Currently listed for $1,475,000 with Denise Rubin of Berkshire Hathaway HomeServices Florida Realty. ML# A10154237
3. Under: $3 Million: Jade Ocean | 17121 COLLINS AVE UNIT#1705| $2,650,000
Beautiful Jade Ocean residence is move-in ready. Unit features 3 Bedroom, 3 Bathroom and one half bath over 1,933 SF with open living and dining areas. Upgraded finishes include fine statuario marble floors, custom furnishing, chef's kitchen with quartz center island, with Miele appliance, Snadeiro custom cabinetry, huge master-suite with and open ocean and intracoastal views throughout. Currently listed with Diego Arnaud of DA Luxury Realty, LLC. ML# A10175839
4. Over $3 Million: Mansions at Acqualina | 17749 Collins Ave. #3001 | $9,000,000
Luxury living in this huge beachfront unit at the Mansions at Acqualina. 3 Bedroom, 5 Bathroom and one half bath over 4,609 SF features direct ocean views and Intercostal and the finest finishes by Philip Jeffries and Minotti. Marble & Wooden Floors, Ornare leather-clad closets, gourmet kitchen with Miele appliances, fireplace, Jacuzzi and Summer Kitchen. Five-star amenities include world class fitness center, full-service spa, wine vault, cigar lounge, kid room, and a golf simulator. Currently listed for $9,000,000 with Lana Bell of One Sotheby's International Realty. ML# A10197456
Featured Listing: Continuum 3303
Unit 3303 in Continuum's South Tower, located at 40 S. Pointe Drive, has hit the market for the first time since 2007. The unit features 3 bedrooms layed out over 3,335 SF with a private elevator, spacious master suite with private balcony and marble master bath, wraparound balcony, Santa Pietra limestone, travertine marble floors, open-style gourmet kitchen with high-end appliances, home office, Control4 smart-home technology and amazing views of Downtown Miami, Key Biscayne, the Atlantic Ocean, Government Cut and Biscayne Bay. Continuum on South Beach is a full-service building that features resort style amenities and walking distance to the South-of-Fifth shops and restaurants including Prime 112, Prime Fish, Prime Italian, Il Mulino, Fogo De Chau, Milo's, Bakehouse Brasserie, etc. The unit is currently listed for $10,588,888 million with The Jills of Coldwell Banker Real Estate.
New Mixed-Use Building Coming to 5101 Biscayne Boulevard
A new mixed-use project has been proposed by the Mattoni Group an 5101 Biscayne Boulevard in Mimo. The project will include restoring the existing historic Mimo building and will be used as a restaurant while new construction will expand the structure 19,000 SF off for office space with ground floor retail. The design and architecture will be overseen by Urban Root Associates. Miami's Historic Preservation Board will review the proposal.
University of Miami Planning $155 Million, Arquitectonica Designed Expansion
The Univeristy of Miami has teamed up with Arquitectonica and is planning a major expansion to their Coral Gables campus. The proposal includes 23 new buildings, all interconnected featuring 1,104 new dorm beds, residential recreation room, 200 seat auditorium, Launch Pad start-up incubator and workspace, learning center, multi-purpose rooms, retail including mail room, print shop, bike shop, and food options. The design shows ground level being educational, retail and student space while the upper levels are living. The build-out is estimated to cost $155 million and the plans are under review by the city. Completion is expected in 2019.
300 Biscayne to Be Overseen By Deepak Chopra, Launch Sales in Late 2017-2018
Developer PMG has tabbed Deepak Chopra to bring "healthy living" to their 300 Biscayne downtown residential project. Sales plan to launch sales for 300 Biscayne sometime in 2017-2018. PMG has kept the details of the project largely under wraps. In January 2015 it was reported that PMG had closed a $27 million loan for 300 Biscayne Boulevard, which will be used for planning and development of the luxury residential project. PMG paid $80 million for the 88,800 SF site in November 2014. Chopra worked with PMG to finish 7 units in their Muse development in Sunny Isles with a health focus on air, water and light.
Miami Preconstruction Condo Investors Take Hits as Sales Slow
Inventory is on the way up and sales look to be slowing as the end of the cycle nears leaving some preconstruction condo investors taking losses on their investments. In a report by StatFunding, they state that the inventory of unsold developer units is increasing while sales have slowed over the past 3 months. 10,000 new units are still under construction and stand to be delivered. In Icon Bay alone, StatFunding found that investors have lost between 8% and 28% and there are 68 of 299 units for sale. Prices in the overall Miami condo market in the same timeframe have pulled back slightly, but remain remarkably stable amid rising Miami and Florida populations and low foreclosure rates.
