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Demetri Demascus  Real Estate

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Island Gardens

July 26, 2016

Miami is fast on the rise to solidifying itself as the superyacht capital of the Americas and the Island Gardens development is a major driving force behind the shift. By Flagstone Property Group, the Watson Island project is expected for completion in 2018 featuring a superyacht marina that can accommodate up to 550 feet, 2 luxury hotels, condos, and a retail and entertainment promenade. The marina will be the first of its kind in North America and will be able to house of to 50 superyachts matched with full-service amenities for the marina including a clubhouse, on-site customs, etc. The project will also feature 221,000 SF of retail and green spaces throughout the property. Mehmet Bayraktar won the rights to build the development after working with the city for 14 years. Flagstone plans to start building this fall. 
 

In Commercial, Condo, Downtown, Hotels Tags Island Gardens, Downtown Miami, Condo, Luxury Real Estate, Hotels, Retail

What's the deal with Resort World Miami?

July 18, 2016

The proposed Resorts World Miami development has caused quite a stir over the past few years in Downtown Miami. Ambitious plans matched with high-profile lawsuits has pushed the project into a state of mystery and question. Genting originally paid $236 Million in 2011 for the Miami Herald Site and demolished the existing building in 2014. Since then not much has been heard from the developers besides stalls and lawsuits.  

The most recent news as to the project is that Resorts World Miami, the entity Genting operating under in Miami, has purchased the rights to build a 20-slip marina on the site from the Matheson Family. Additionally Resorts World Miami and Miami-Dade's Property Appraiser sued each other last year over property tax breaks that allowed the developer to save millions. Resorts World Miami then sued Miami-Dade to force the approval of slots and card games to the Omni Mall, which it also is the owning entity. Resorts World Miami was then sued by Prime Sites brokerage alleging that they are owned substantial commissions on the lease of the Boulevard Shops, currently under construction and located on Biscayne. A lease was signed and as per the contract Resorts World Miami received their 40-year certification on the aging development site, but failed to pay out commission s in regards to the executed leases. Resorts World Miami then signed a lease with their own subsidiary, Crystal Cruises, sparking further controversy. Only time will tell what the future holds for this amazing plot of land in between the MacArthur and Venetian Causeways.   

In Downtown, Hotels, Commercial Tags Resorts World Miami, Downtown, Hotels, Commercial
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Me Miami Hotel Opening in Marquis Residences

July 8, 2016

After years of change, construction, turnover and empty space, Me Miami is finally set to occupy the hotel space in Marquis Residences. The hotel is sure to shake up the area which features the popular E11EVEN nightclub and future location of One Thousand Museum Residences and Paramount Miami World Center. Me Miami will feature 129 luxury hotel rooms, an STK restaurant and a Sun Deck with sunset and sunrise pools along with a poolside bar and lounge. Rates are currently starting in the low $200s. This is a great development for the owners in Marquis as the low-awaited hotel opening now brings a new energy to the hotel amenities, the building and the area.      

 

 

In Hotels, Downtown Tags Hotels, Dowtown, Marquis Residences, Me Miami
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50 Biscayne

March 1, 2016

50 Biscayne is a fifty-four story residential high-rise built as one of the first upgrades to Downtown Miami in 2007. 50 Developed by George Perez's Related Group, Biscayne is a major portion and one of the most southern tip of the ever developing Biscayne Wall. 50 Biscayne was designed by Sieger-Suarez to pay tribute to MiMo (Miami Modern) style architecture. 50 Biscayne is made of up of 451 total units that range from Studio to 3 bedroom layout. Pricing averages around $450 SF at $235K to $1.5 million. 50 Biscayne includes 24-hour concierge, fitness center, spa, lobby retail and dining as well as a resort-style pool with cabanas. It is located across the street from the popular Bayfront Park, Brickell City Centre, Epic Hotel, Intercontinental Hotel and American Airlines Arena. With the condo market staying solid, 50 Biscayne is a smart choice for an investor looking to put their money into a quality building with a top location and high rental demand.    


 

 

In Condo, Downtown Tags Condo, Dowtown
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Auberge Residences

February 11, 2016

Related Group's three-hour mixed-use project, monikered Auberge Residences at 1400 Biscayne Blvd. has been approved! The partnership between Related Group and Auberge Resorts acquired the prime US-1 property for $57.3 million last year right next to the Adrienne Arsht Center for the Performing Arts' Knight Concert Hall. Arquitectonica will design the project while Auberge Resorts will manage the property upon completion.

Auberge Residences is proposed as a 60-story tower facing Biscayne Bay with 380 total units, 290 luxury-condos and 90 designer condo-hotel suites. The residences will be available in 1, 2,3 and 4 bedroom layouts. Units will have private elevators, master baths designed by Piero Lissoni, custom Italian kitchens and unmatched views of Biscayne Bay, Miami Beach and Downtown Miami. pre-construction reservations start around $700 SF. There will be a 60th floor full-service, resort style pool deck, 12th floor zen pool, a world-class spa, wine room, cigar lounge, concierge, 24/7 security, etc. The building will also pride itself on the museum-quality art which will be curated from Jaume Pensa, Fernando Botero and Julio Le Parc. Completion expected Q1 2019.  

 

 

 

In Condo, Downtown, Edgewater, Hotels Tags Edgewater, Dowtown, Condo, Hotels

Venetian Causeway to Reopen February 29

January 25, 2016

Over the past 90 years, the city of Miami has grown to love Venetian Causeway. Over the years mixed with the harsh, aquatic environment, the structure weakened before a bus got stuck in a hole on the roadway in March 2014. Metal plates had been used to patch the roadway until the decision to rebuild the span was made in early 2015. Since closing to the public in June 2015 following a bridge deck failure in April have, the Venetian Causeway has experienced over $12.4 million in renovations as it aims to reopen in February 29. Most of the upgrades came to the westernmost 730 feet of West Venetian Bascule Bridge on the Downtown Miami side.   

Since its closure Miami and Miami Beach have seen tremendous traffic backing up Alton Road and MacArthur Causeway. Additionally runners and bikers have been held off of one of Downtown Miami and Miami Beach's most scenic stretches across Biscayne Bay. Venetian Causeway residents have bared the brunt of the closure, lacking the quick and easy connection between the two cities in which they chose to live. Despite this, in an email to residents of Venetian Causeway, the city of Miami claims that:

“Over the past seven months, significant construction has been accomplished that will result in a completely new bridge superstructure, substructure, approach roadway and lighting."

The project is still on schedule and on budget.

 

 

 

 

In Public Space, Transportation, Miami Beach, Downtown, Venetian Causeway Tags Dowtown, Miami Beach, Venetian Causeway
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Marquis Residences

December 15, 2015

Marquis Residences is an ultra-luxury skyscraper that forms the northern most tip of the Biscayne Wall. The 700 foot tall tower was completed in 2008 and features 67 floors, which makes it the tallest residential building in the state and 3rd tallest building in Miami. Marquis was developed by Leviev Boymelgreen and designed by Arquitectonica.   

Marquis is dual-use with a 5-Star Hotel residing in floors 1-14 and the residences from 15-67. The building features approximately 292 private residences and 56 hotel suites. The hotel will be a Me by Melia Hotel and Marquis fetaures an 8,000 SF world-class spa and fitness center. Hotel services are available to residents including room service, concierge, valet, housekeeping, etc. The building also features a pool deck with an infinity edge pool, private residents pool, cabanas, hot tubs, etc. STK Steakhouse will also be in the hotel lobby along with a cocktail lounge and other entertainment and retail options. 

Marquis is an extremely well built building that was built to stand up to the the specifications of the most discerning buyers. The building was built with extra-thick, noise-reducing partition walls, smart-building technology in every unit, impact resident glass windows, quartz kitchen counter tops, rain shower head and exotic wood cabinetry. Matched with such a great Biscayne Blvd. location across the street from American Airlines Arena, The Frost Science Museum, The Perez Art Museum and Museum Park, it is no wonder why Marquis is becoming such a hot, in demand address in Downtown Miami.  

 

In Hotels, Condo, Downtown Tags Dowtown, Condo, Hotels
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Ten Museum Park

December 14, 2015

The Biscayne Wall formation of residential skyscrapers along Biscayne Boulevard continues to grow as Downtown Miami becomes a hustling and bustling metropolis. Soon One Thousand Museum and Paramount Miami World Center will soon be completed and opened amongst other exciting new buildings. The Biscayne Wall has been filling in since 2007, when the beautiful new Ten Museum Park stood high above the Park West area of Downtown Miami as the first building completed for the Biscayne Wall. 

Ten Museum Park is an exclusive residential high-rise designed by Chad Oppenheim of Oppenheim Architecture + Design. The building rises 50 floors to 585 feet and features only 200 units. The white design reflects the heat from the sun and can withstand hurricane winds in excess of 140 mph. The building also includes 20,000 SF of office space on the lower levels as well as first-class amenities including multiple pools, gym, yoga studio, spa, valet, etc. The Spa is notably by Clinique La Prairie and is one of the largest in Miami at 21,000 SF. The pool deck features 7 infinity edge pools and 4 plunge pools. Floors are by Missoni and kitchen appliances by Miele.      

While buildings will get newer and bigger, there is just something special about Ten Museum Park's location, design and vibe. The building is quite and homey, so you don't necessarily feel as if you live in a skyscraper. The lobby is small, which allows it to be quite and features everything that you may possibly need. Management keeps the building well run and it is poised to flourish as the Frost Science Museum, Venetian Causeway, One Thousand Museum and Paramount Miami World Center are completed. 

In Condo, Downtown Tags Dowtown, Condo
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Underline Miami

November 9, 2015

New York got the High Line, fittingly Miami will get the Underline. From James Corner Field Operations, co-designer of Manhattan's High Line, Miami's Underline will be built in the shade below the Miami-Dade Metrorail along the South Dixie Highway. The project is expected to cost around $120 Million, but will transform Miami's public space offerings and provide one with ample shade for mixed-use recreation. Currently this endeavor is fully backed by Miami-Dade Mayor Carlos Gimenez along with the city of Miami, Coral Gables and South Miami.  

Underline will transform the barren, cracking sidewalk that currently sits beneath the Metrorail. James Corner Field Operations new build out will feature gardens, dog parks, workout stations, sports courts and recreational areas, a skate park, event space, food kiosks and many other recreational areas. The project will span 36 roadway intersections with at least 5 featuring pedestrian and bike bridges. 

Underline will break ground in 2016 when it undergoes its "Demonstration Phase," where a 3/4 mile stretch in Brickell will be built out to include a dog park, outdoor gym, picnic areas and  recreational areas including a climbing wall. This project is sure to add excitement and provide Miami-Dade residents with improved recreational areas to enjoy.

In Downtown, Public Space Tags Public Space & Parks
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Brickell City Centre

October 12, 2015

Ten years ago Miami was a vice driven beach city with high-potential. Fast-forward and Miami has transformed into a hustling metropolis. The rapid development coming to Downtown Miami does not stop with just Paramount Miami Worldcenter. Already under construction and nearing completion is the exciting Brickell City Centre, which will be Miami's largest mixed-use urban development.

Brickell City Centre will feature over 11 acres of retail, shopping, recreation, entertainment and living. A 500,000 sq ft climate controlled mall bridges the gap between indoor and outdoor shopping. Designed by Swire Properties, Simon Property Group and Whitman Family Development of Bal Harbour Shops, Brickell City Centre is sure to bring much needed cosmopolitan retail to Downtown Miami. Brickell City Centre will also include a CLIMATE RIBBON, which will allow for natural light while helping push breezes through the mall to keep shoppers comfortable.  

Brickell City Centre will feature Rise and Reach, two condo buildings of its own, bringing about 780 units right to the new heart of Brickell. The towers are designed by Arquitectonica, who brought Miami the nearby Icon Brickell. Interiors will be by Richardson Sadeki and the buildings are LEED pre-certified. The residences have floor to ceiling glass windows, come fully furnished and have 48 bottle wine coolers complete in the kitchen. A half-acre amenity deck includes gardens, grilling areas, outdoor fitness, children's areas and pools complete with poolside beverage and cafe service. Keep an eye on this area as Brickell City Centre is sure to create some excitement in Brickell!



 

In Brickell, Downtown, Hotels, Condo, Shopping Tags Brickell, Shopping, Hotels, Condo
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Paramount Miami Worldcenter

October 11, 2015

The exciting new Paramount Miami Worldcenter will feature the highly-anticipated Paramount Tower, where sales are now underway with over 25% of the building already reserved. Being brought to Miami by developers Daniel Kodsi, Art Falcone and Nitin Motwani with architect Elkus Manfredi Architects with the interior will be by design firm ID & Design International, Paramount Tower will be a luxury high-rise with five-star amenities right in the heart of Downtown Miami. The development is part of the Paramount Miami Worldcenter project that includes residences, mall, shopping, dining, entertainment, etc. This new development is expected to driving commerce and visitors to Downtown Miami at an unprecedented level. 

Paramount Tower will feature 470 residences which will be on levels 10-54 with private elevator access and foyers, outdoor living rooms, designer kitchens and direct access to The Mall at Miami Worldcenter from the third floor. The building will also feature a "Yacht Skyview Deck," a 4-level rooftop haven with pool, lounge and yoga deck. Units are starting at $533 per square foot.  

 


 

 

In Condo, Downtown Tags Dowtown, Condo
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One Thousand Museum

September 28, 2015

Architect Zaha Hadid's first design in the western-hemisphere continues to take form at 1000 Biscayne Boulevard. One Thousand Musueum will be a 62 story, 83 unit condo building with prices starting at $5.5 million at 4,600 square feet. Bigger units will reach over 10,000 square feet. The building broke Miami-Dade drilling records with the piles poured 177 ft deep foundation pilers, also known as augercast piles to support all 62 stories. One Thousand Museum is being brought to Downtown Miami by developers Gregg Covin and Louis Birdman in partnership with Regalia Group.  

In Condo, Downtown Tags Dowtown, Condo

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