Louver House

South-Of-Fifth continues to deliver some of the most prime real-estate on Miami Beach and in South Florida. Louver House, developed by Mast Capital and designed by Architect Rene Gonzalez hit the market in mid-January for pre-construction reservations. The boutique residential building's design blends glass with stone to create a beach sanctuary that feels like quite luxury away from the hustle and bustle of city life.  

Louver House features 12 units, all in 3 bed/ 3.5 bath layouts across 4 stories with rooftop terraces. Units include oversized balconies, private elevators and 10 foot floor to ceiling glass ranging from 2,088 - 2,432 SF. Units also include high-end kitchen and bathroom fixtures and appliances by Ornare, Wolfe and Sub Zero, smart-technology ready and 2 parking spaces per unit. Pricing starts at $1.9M - $3.6M. The rooftop terrace features an infinity edge pool, BBQ area and garden lounge. Louver House also features 24 hour security, outdoor yoga studio, state-of-the-art fitness center, electric vehicle charging stations and a full-time residential manager. If you are looking to live or invest in South-Of-Fifth and prefer a boutique, quite, unique building with magical layouts, Louver House is worth looking into.   

50 Biscayne

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.    

Sunset Harbor Residences

The war zone over on Purdy Ave. will not be coming to a close any time soon as Miami' Beach's Land Use & Development Committee approved Deco Capital Group's request to raise height restrictions. In partnership with New York developer RWN Real Estate Partners, the mixed-use Sunset Harbor Residences will reach up to 90 ft, extending on the previous 50 ft limit. This ordinance is only applicable to owners with over 200 ft. of frontal space on Purdy Ave. Deco Capital aims to build 15 luxury condos atop their premium retail space that they purchased in 2014. Sunset Harbor Residences will be 3-bedroom layouts and approx. 2,000 SF. The building will overlook Purdy Ave & Maurice Gibb Park and include covered retail spaces and indoor/outdoor cafes in a covered promenade. Owners at the Lofts at South Beach are pressing Deco Capital Group for financial compensation due to lost views attributable by the approved increase in height restrictions ordinance, which will block views North from the Lofts at South Beach.   

The Sunset Harbor area is undergoing massive and fast redevelopment and is blossoming into one of the most expensive and walkable neighborhoods in Miami Beach, only rivaled by South Pointe. Retail, dining, entertainment amongst other attractions have moved into the area which has been transformed from auto-lots and junkyards to high-priced luxury real-estate. The project looks to capitalize on the development style that has found success in Sunset Harbor to this point, bringing in mixed-use developments, pedestrian walkability, covered retail spaces and indoor/ outdoor cafes. Sunset Harbor serves as the entrance to Miami Beach via Venetian Causeway and is just minutes from Lincoln Rd. 

2015 Miami Real-Estate Market Recap

The numbers are in, and according to the Miami Association of REALTORS, Miami-Dade County single-family home sales set an all-time record high in 2015. Miami also had the third-most existing residential sales with 29,886 including homes and condos in its history. Single-family home sales rose 3.1% over 2014 the media price of closed sales rose 8.2%. This strong growth reflects the demand investors and residents alike have had for Miami's record breaking market. 

The strong market is attributable to population increase, a strong local jobs market and South Florida’s continued growth as a leading place to live and work. These factors are expected to continue positively effecting the Miami real-estate market through 2016 and beyond. Miami has also benefited from foreign buyers looking for a safe place to invest their foreign currency in the United States. Foreign buyers prefer single-family homes, which has caused a shortage of inventory, the pattern is expected to continue. 

Miami real-estate has also been selling very close to list price at 95.2% and cash deals have represented 51.8% of Miami’s total closed sales, more than double the national average. Cash deals made up 65.4% of condo sales in 2015 and distressed property transactions fell by 7% with short-sales fell by 40.5%. There is still lots of opportunity to take advantage of this strong real-estate market that Miami is currently experiencing as new construction sales continue to stay strong. Miami and the South Florida real-estate markets are a great place to invest whether you are American or a foreign buyer, Miami offers great investment opportunities at all price levels. 

L'Atelier Miami Beach

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 broke ground in Q4 2015 as construction commenced with an expected opening of 2017. L'Atelier sits on 130 feet of beach front property that bridges privacy with accessibility to Miami Beach's cultural center. L'Atelier will replace the Golden Sands Hotel, but careful design by Holly Hunt will still preserve the hotels historical 3-story facade and incorporate it as part of the new building's design.

Each unit includes massive balconies, outdoor jacuzzi and Poliform kitchens with Gaggenau appliances. Units come in 3 bed half-floor residences, 4 bed full-floor residences and 6 bedroom penthouse layouts at 2,300 SF, 4,600 SF and 8,000 SF respectively. The building will feature amenities by HOLLY HUNT and Enzo Enea including a private, staffed beach. Other five-star amenities include a full time House Manager, 24 hour valet, oceanfront infinity edge swimming pool, upper deck lap pool, pool bar and BBQ area, spa, hammock garden, state-of-the-art gym and a beauty salon. The penthouse has hit the market at $25 million and L'Atelier's construction continues to move smoothly along. This exciting building is sure to shake up the aging area between lower Miami Beach and Bal Harbor.

Auberge Residences

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.  

Muse Residences

Muse is a luxury residential high-rise under development in Sunny Isles Beach, FL. The 50 story, boutique style tower was designed by Carlos Ott in partnership with Sieger Suarez Architectural Partnership. Interiors are designed by Antrobus + Ramirez of Prime 112 and Ocean House fame. Muse is walking distance from Bal Harbour and provides easy access to Turnberry, Sunny Isles Beach and Aventura. Located right on the Atlantic Ocean, this exciting project is already turning heads of future residents and investors alike.  

Despite rising 50 floors, Muse Residences only offers 69 waterfront units. The boutique style feel offers residents a quite, homey living expeirence. Muse Residences offers units in a 2 bed, 3 bed and penthouse house layouts. Fully furnished residences range from 2360 SF to 5995 SF with the penthouse taking up a full floor. The units come move in ready and already are wired in with the newest state-of-the-art smart home, iHome technology. Units also feature 60' wide and up to 38' deep terraces, outdoor living space with outdoor kitchen and entertainment system, private elevators with biometric technology, marble and wood flooring in the residences. Units also come with Smart Glass technology which allows residents to adjust walls to be opaque or clear.       

Muse also features first-class amenities and service to make residents experience a 5-star affair. The building includes an infinity edge pool overlooking the Atlantic Ocean and resort style amenities and services including room service, state-of-the-art fitness center and spa, automated parking system, 24/7 concierge and security, pet-walking services, etc. This modern building seems to have it all and plans to open its doors to residents early 2017.  

Marina Palms Yacht Club & Residences

Spread out over 14 waterfront acres, Marina Palms Yacht Club & Residences brings the finest in bay-front living and boating together. Perfect for boaters, outdoor life enthusiasts and snowbirds looking for a winter/ weekend retreat from the cold north. The property is situated right on protected mangroves, providing breathtaking views of Biscayne Bay and Sunny Isles Beach. World class shopping, dining, entertainment and recreation are just minutes away in Bal Harbor, Aventura Mall and Turnberry.    

Marina Palms Yacht Club & Residences will be made up of two, 24 story towers totaling 468 units. The units come in 2 and 3 bed layouts ranging from 1,821 SF to 2,500 SF. The opulent residences include Italian bathroom vanities by Snaidero, 8-foot deep private terraces, Italian kitchen cabinetry by Snaidero, Grohe bathroom fixtures, smart technology ready, ceilings heights over 9 ft and sound insulated walls. No expense was spared when building these units, and they come designer ready. 

Marina Palms is unique in the sense of residents get access to the e-Concierge app for iPad/mobile access to the services and amenities offered by the building. Amenities include a two resort style pools, fitness center, club room, business lounge, 24-hour security, spa, news cafe, concierge, tennis club, personal butler services and outdoor gourmet kitchen. In addition to the twin, waterfront towers, the development will also feature a private, 112-slip marina only accessible to owners and residents. The marina can accommodate boats up to 90ft, although special exceptions can be made for larger boats. The marina also offers dockside high-speed internet and cable TV.  The marina provides open access to the ocean via the Haulover Inlet. Recreational activities provided to residents include jet skis, kayaks, water skiing, windsurfing and snorkeling. If you are looking for the perfect fusion between boating life and luxury living, Marina Palms Yacht Club & Resort is a great development to consider. With the North Tower already sold-out and only 12% inventory left from the under-construction South Tower to be completed late 2016, Marina Palms is a great opportunity to live or invest.      

The Residences by Armani Casa & Condominium

Coming soon to Sunny Isles is the beachfront Residences by Armani Casa & Condominium. This ultra-luxury condominium project brings some of the best developers, architects and designers in Miami real-estate together. The 56 story, 307 unit building is designed by Cesar Pelli of Pelli Clarke Pelli Architects. The Residences by Armani Casa is bought to Sunny Isles by developers Gil Dezer and Jorge Perez of Dezer Development and Related Group respectively in collaboration with ARMANI CASA.

The Residences by Armani Casa will feature 5 residences per floor with 10 foot glass windows and oversized balconies. There will also be 3 floors of private cabanas, a full service restaurant, world class fitness center and spa and an oceanfront pool and sundeck. Floor plans start at approximately 1,350 SF and reach to 4,200 SF in 2, 3 and 4 bedroom layouts. The 3 and 4 bedroom floor plans are flow-thru with views and terraces on both the ocean and bay/city sides of the building. Preconstruction pricing starts at $1.7 million and reaches above $6 million. Preconstruction sales began in early 2015 and over 50% of the residences were reserved by August. The project is expected to be completed in late 2016 or early 2017. 

Venetian Causeway to Reopen February 29

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.

Miami Condo Market Entering Correction

Just a few short years ago Miami's condo market was booming and foreign buyers were snatching up properties to add to their portfolios. This lead to South Florida becoming the hottest market in U.S. real-estate as it recovered from its 2007 crash. Condo prices have rapidly been on the rise over the past several years, but this stands to change as new supply prepares to hit the market to the tune of investors slowing down their buying spree as global markets enter a period of volatility. 

2016 will be a great time to keep an eye out for a new investment property in South Florida. With so much market volatility stemming from China, low oil prices, South American currency devaluations and tons of new supply hitting the Miami Condo Market, it appears that we are about to see a market correction. There are already tell-tale signs of a market slowdown including a slowdown in single-family home sales. While single-family home closed sale averages continue to rise, the percentage of closed sales has fallen year-over-year. Single-family home sales median prices rose 12% to $274,900 while the median condo price grew 7% to $203,000. 

Sellers are typically the last to accept that prices are beginning to fall. The original market recovery was fueled by foreign investors, who accounted for about one third of condo sales. Today, many of these investors have backed off adding to their portfolio as GDP from their native countries have dropped. Brazil's Real currency has fallen in value by more than half since the market correction and tough economic sanctions on Russia have slowed down Russian money coming to Miami. Both of these countries are also heavily exposed to falling oil prices and unstable governments. Additionally the large amount of new inventory has caused investors to be slower and pickier with their investments as opposed to a fast closing market. Venezuelans have stayed quite strong in their desire to acquire Miami properties as they try to get money out of their country and into the stable U.S. economy.    

To sum up, their simply just aren't as many buyers willing to pay the prices that sellers are asking. The market appears to be heading in the direction of 2014 pricing in order to stimulate buyers and get inventory moving. Areas that remain hot are where units are priced between $350,000 and $700,000. Higher priced areas such as South-Of-Fifth have begun to see a slowdown following a hot market that lead to some of the highest prices per square foot in Miami. The ultra-high end is also still strong above $3 million fueled by new buildings such as Faena House, Surf Club Four Seasons and Eighty Seven Park.  

If you are considering purchasing a property in Miami but have been weary of jumping into a hot market, 2016 is looking like it is the year to consider pulling the trigger. With unstable economies, prices should fall which will open up great opportunity to acquire prime property at discounted prices. Don't be scared by falling prices, seize the opportunity!  

Turnberry Ocean Club

Although yet to break ground, the Turnberry Ocean Club in Sunny Isles is starting to become a reality. Designed by Carlos Zapata and Robert Swedroe, Turnberry Ocean Club is eying a 2018 opening. Turnberry's President of Residential Development said that about 2/3's of the early buyers were from South America and Europe.

Turnberry Ocean Club will be a 649-foot tall tower and residential complex consisting of 154 units at 54 stories. The units range from 2,900 SF to over 10,645 SF. Pricing ranges from $4 to $35 million with the higher-end of the scale consists of duplexes that come complete with their own swimming pools, starting at $19.5 million. The building will feature first class amenities including Sunrise and Sunset Infinity-Edge pools, indoor and outdoor fitness centers, a pet retreat, pool bar, salon, restaurants and cocktail lounge. The pools are rooftop to allow for breathtaking views of Sunny Isles to be enjoyed by all residents. The building also features a Sky Club from floors 30 to 32. The developers have targeted this building at younger buyers who are looking for a residency rather than older retirees from the Northeast.

Midtown Miami 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

Marquis Residences

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.  

Ten Museum Park

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. 

L'Atelier Residences in Miami Beach Breaks Ground

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. 

South Florida Top 10 Metro Area Growth Market

South Florida's Metro Area has seen some of the largest increases in home prices in the country over the past several years. The price of a single family, 3 bedroom home has risen by close to 11% while condominium pricing rose 7.1% to $289,900 and $156,300 respectively. Additionally, the market has seen a 33.4% increase in the amount of transactions that took place in early fall 2015.

South Florida is well positioned to see increased growth over the next several years. Developments such as Paramount Miami World Center and Brickell City Center are ready to drive a new consumer demand for Miami. Investors worry that the growth rates are too high and may be unsustainable, with a more manageable growth rate closer to 3%. Prices have been driven up due to limited supply in areas, but a bulk of supply is about to hit the Miami market over the next few years. To separate themselves, some projects have chosen to focus on quality over quantity, upgrading to developing luxury units with more space to attract buyers. 

One interesting aspect of the South Florida Real-Estate markets growth over the past several years is that it has been investor driven. South Florida market has not yet seen many first time home buyers and those using FHA loans purchase properties in the past several years due to the competition within the market. Investors offers on properties are typically more attractive, and have made it hard for first time home buyers to take advantage of the discounted prices.

South-Of-Fifth Miami Beach Overview

One of the most exclusive enclaves, removed from the craziness of Miami Beach is the high-end South-Of-Fifth neighborhood. Starting from fifth street and encompassing everything through Southpointe Park, this area has undergone one of the most extreme transformations of property in the last decade. Consisting of falling apart buildings, criminals, homeless, etc. SOFI was an area to avoid. Real-Estate Developer Thomas Kramer purchased a large portion of what is now modern day SOFI for $45 million in the early 90's. He was able to get zoning permits to build some of the largest buildings in Florida which today stand tall over Miami Beach. SOFI, as it's also known as, is now selling at the highest price-per-square-foot with the most recent sales pushing $4,000 SF. Average pricing for the area has risen from $852 SF in 2009 to well above $1,500 SF in todays market. SOFI is a great place for residents looking for a turn-key unit that in a five-star building or investors looking for a solid rental return with a high-demand unit.   

One of the reasons SOFI is in such demand is due to the location. With South Pointe Park as the most southern tip of Miami Beach, SOFI is surrounded by water on 3 sides. Views consist of the Atlantic Ocean, Fisher Island, Biscayne Bay, Downtown Miami, Brickell, Port of Miami and north towards Miami Beach. SOFI is also very attractive as it is one of the more walkable and safe neighborhoods in Miami. From your doorstep, some of the worlds top restaurant destinations await including Joe's Stone Crab, Milos, Il Mulino, Prime 112, Prime Fish, Prime Italian, Smith & Wollensky, etc. Additionally there is South Pointe Park, which winds around the southern tip of Miami Beach overlooking Fisher Island and provides a beautiful, quite, secluded area for recreation and enjoyment. The 17 acres promenade features running and walking trails, seating, kids areas and beautiful views of Downtown Miami. SOFI is also home to Miami Beach Marina, providing many options for seafaring individuals.     

Top Buildings:

• Apogee
• Icon South Pointe
• Murano Grande 
• Continuum Towers
• Ocean House
• Glass
• Portofino Tower
• South Pointe Tower

New Developments to Watch:

• SOFI House
• Three Hundred Collins 
• 321 Ocean
• Marea South Beach

Ritz Carlton Residences of Sunny Isles Beach

Not all of the exciting new developments are down near the MacArthur Causeway. The stunning new Arquitectonica design Ritz-Carlton Residences of Sunny Isles Beach is coming together to be a stunning addition to the Sunny Isles Beach skyline. Arquitectonica designed the building to reflect the fluidity of water, blending in with the beach dunes. The terraces are designed to resemble those of yachts and cruise liners with their nautical design. Gardens and pool decks provide stunning views of Miami, Key Biscayne and the Atlantic Ocean. The interiors will be designed by Michele Bönan of Casa Tua and Cipriani fame. Ritz-Carlton Residences of Sunny Isles Beach will be a true reflection of South Florida luxury. 

At the forefront of Florida's Riviera Class-A developments, Ritz-Carlton Residences of Sunny Isles Beach is located between Bal Harbor Shops and Aventura Mall. The 33rd floor of the tower will feature a Club Room with Walnut and Teak planks for a nautical feel. Other amenities include a private beach with cabanas, lounges and umbrellas, a beach restaurant complete with a pool and beach services, spa, oceanfront fitness center and a Private Sky Club Room. The 649 ft tower will feature 212 residences which will range from 1,605 SF to 3,640 SF while penthouses will reach up to 6,320 SF. Each residence will come with its own private elevator lobby and smart home technology. Residences will also include European appliances, a wine cooler and a cappuccino maker. Ritz-Carlton Residences of Sunny Isles Beach stands to be completed in 2018 and will be completed managed by Ritz Carlton Hotel Co.   

Icon Brickell Pool Closing for 1 Year +

Icon Brickell's residents (and future visitors to the Viceroy Hotel) are beginning to wake-up to the realization that their infamous Philippe Starck design pool will soon be closing down for 12-14 months for construction. The work is expected to begin in February 2016, which will make Icon Brickell yet another prime residential/ hotel property with a pool closed due to construction.

As Icon Brickell received top marks upon its 2008 opening due to its award winning amenities, it comes as a bit of a mystery why the pool is in-fact undergoing renovations. Expected changes to the pool and pool deck will be new tiling to help eliminate the slipping and sliding that the current tile causes when wet. Despite this there are rumors that the pool has caused leaks which have damaged the gym and spa which is located directly below. 

Rental pricing at Icon Brickell has already taken a hit as residents do not want to live without a pool. Units are sitting open on the market and those that are rented are coming at a discount. While the rental market may have taken a hit, now is a great time to explore purchasing a unit in this highly-desirable building in a prime Brickell location. Units are selling in the mid-$500 SF with prices expected to rise close to $800+ SF at the completion of projects such as Brickell City Centre. If you are looking to make a great investment in Brickell, Icon Brickell will have many opportunities over the next few months.