16 Nov 09 Latest News from Ten Museum Park
Welcome back!
Ten Museum Park is a bay facing Miami condo development located at 1040 Biscayne Boulevard in Miami’s “Arts and Entertainment District”. This new Downtown Miami luxury condo sits across the street from Bicentennial Park Museum Park which is boarded by Miami’s Performing Arts Center, American Airlines Arena, Biscayne Bay and Biscayne Boulevard. Unique in that all bay facing east facing condos are 2-story lofts, Ten Museum Park offers spacious lofts not typically found in a skyscraper.
At Ten Museum Park, the sale of 5,394 sq ft Ph 4603 has closed for $1.35M or $250.27 sq ft. The list price for this now sold condo was $1.895M. This sale, which closed on 11/6/2009, illustrates how fantastic deals are happening in Downtown Miami. PH 4603 is one of only two direct bay facing Penthouses that have pools on the top of Ten Museum Park.
I can’t help but ask the following question: Is it possible to purchase a Penthouse of this caliber at this $/sq ft in any other city in the USA?
View all currently listed unit at Ten Museum Park
Contact us today for more information about Ten Museum Park – 305.531.3300
Tags: Miami Condo, Penthouse, Ten Museum Park
13 Nov 09 900 Biscayne Bay $148m mortgage sold to investment firm managed by a Cayman Islands trust company.
On October 27th Hypo Real Estate Capital Corp. sold the mortgage on 900 Biscayne Bay in Downtown Miami to Roost Investments Limited.
What does this mean for the developer that still holds 244 units and the 256 owners that have already closed? If what has transpired in many neighboring buildings is a barometer of things to come, we could see a significant price reduction to spur sales.
Tags: 900 Biscayne, Downtown Miami
10 Aug 09 Latest News At Parc Lofts Condo In Maimi
Parc Lofts is a Miami Loft development located at 1749 NE Miami Court. This Downtown Miami Loft Condominium sits just a few blocks west of Biscayne Bay at the crossroads of the Wynwood Arts District and the 24-hour Arts and Entertainment District.
Recently, Parc Lofts #207 sold for $210k ($165/sq ft), which was a 1,267 sq ft loft. The listing price for this sold condo unit at Parc Lofts was $210k – a short sale. Parc Lofts #310 also just sold for $105k ($125/sq ft), which was a 835 sq ft loft – a short sale as well. This is a good indication that Parc Lofts condos have found their bottom pricing in the low to mid $100’s per square foot which is a great buy in Miami’s Downtown area.
Parc Lofts Condo is comprised of 72 industrial designed lofts ranging from 7610-5,000 sq ft. Each loft unit at the Parc Lofts features easy elevator access, private balconies, secured garage parking, fitness center, front desk concierge services, and spacious pool & garden.
Interior features in Parc Lofts condos include 15 foot ceilings on floors 1-3, 20 foot ceilings on floors 5-6, exposed AC and air ducts, impact glass windows, dramatic uninterrupted wall spaces for art. Parc Lofts kitchens come with either red or tan Italian style cabinets with concrete countertops and stainless steel appliances. Bathrooms at Parc Lofts feature New York Subway Tile floors and wet walls.
To view available condos open this link: Parc Lofts Miami
Tags: downtown miami loft, miami loft, Parc Lofts
06 Aug 09 1800 Club Developers sells out of all 3-beds
In just a matter of a few months, the developer of The 1800 Club has made quick progress at selling their remaining inventory. With roughly 35% of their pre-sold condos having defaulted, the Miami based developer BCOM was faced with the daunting task of moving condos at the worst possible time. Together with Majestic Properties, BCOM came up with a simple strategy - price the inventory to sell by the end of 2009. On track to do just that, the last 2,200 sq ft 3-bed “01-line” was put in contract just this week. Now only a few months into their new sales venture, about one third of their remaining inventory has been sold. So much for the market in Downtown Miami being at a stand still. If you want to sell, its just a matter of pricing it right!
Tags: 1800 Club, BCOM, Downtown Miami, Majestic Properties
15 May 09 Brickell Financial Centre
MIAMI-Construction on Brickell Financial Centre continues amid local speculation that work on the 40-story project has stopped due to the recession. The 601,000-square-foot office tower is one of three new buildings set to add space in the city’s central business district through next year.
“The last crane is coming down. That means we are already ahead of the other two buildings,” Loretta Cockrum, chairman and CEO of Miami-based Foram Group, tells GlobeSt.com.
John Breistol, Foram Group’s president, adds that the crane removal makes way for the installation of the $245-million building’s exterior curtain wall system’s on the building’s east facade. The building is still on track for completion in the second or third quarter of 2010, he says.
Foram Group launched the project early last year and held its topping-off ceremony in early February. It announced its first major prelease in April 2008, a $58-million deal with Bilzin Sumberg Baena Price & Alexrod LLP for 115,000 square feet over 10 years, but the law firm canceled the deal in mid-February.
Brickell Financial Centre is competing with two other Downtown Miami high-rise office projects under way, Met 2 and 1450 Brickell. Collectively, the buildings will add nearly two million square feet to the CBD’s current inventory of nearly 13 million square feet.
Miami’s CBD, consisting of the Downtown and Brickell submarkets, had a vacancy rate of 11.2% and availability rate of 18% through the first quarter, according to CB Richard Ellis. Average asking rents are $32 per square foot for Downtown and $37 per square foot for Brickell.
No other preleases have been signed at Brickell Financial Centre, though the Foram Group executives say they have letters of intent from several prospective tenants. Two buildings totaling 1.5 million square feet, plus supporting ground-level retail, are planned for the site at 600 Brickell Ave.
“We’re really proud of the fact that we have moved as far as we have,” Cockrum says.
Tags: Brickell Financial Centre, Miami Office
24 May 08 Marina Blue: Condo Review
Walk into the three-story lobby, and it is clearly obvious that in just about every way, Marina Blue is superior to its sister building Blue Condo. From the street, Marina Blue has to be one of the most stunning buildings in Downtown Miami. On the amenities level, one will find the best pools in the neighborhood. Located on the southeast and northwest corners, these two large pools experience direct sun throughout the day. Furthermore, at Marina Blue you will find a large fitness facility, sauna, steam, and hot tubs all facing the bay. Although the units are smaller than those found at Blue Condo, Marina Blue units make up for the difference with their direct bay views. There is not a unit at Marina Blue that doesn’t have great views. Finally, in contract to the 1 space per unit limit at 50 Biscayne, there is the option to purchase additional parking spaces. I think this is a monumental difference as most people who will own a two or three bed condo will likely have more than one car.
Tags: Marina Blue
16 Feb 08 Marina Blue Granted TCO
On February 9, 2008 Marina Blue was granted a TCO (Temporary Certificate of Occupancy) allowing the Hyperion Development to finally start closing the much anticipated Downtown Miami condominium. Expect the first closings to take place in March.
Tags: Downtown Miami, Hyperion Development, Marina Blue
17 Jan 08 The 1800 Club Condominium Opens its Doors
2008 Is sure to be an exhilarating year in Miami Real Estate. With the majority of the new construction condos closing this year, there air is ripe with anticipation. Renters in particular have much to look forward to with a variety of new luxury options coming to market. For example, the 1800 Club which recently started its closings, offers an A location with A+ views. Expect rental rates near $1400 for 1-beds, $2000 for 2-beds, and $2800 for the 2200 sq ft 3-beds. The 1800 Club sits on Margaret Pace Park, a little know waterfront public park on Biscayne Bay just 4-blocks from the Venetian and 395 Causeways. Views are spectacular as you can see from this 20th floor photo taken from the 11-line.
Tags: 1800 Club, 50 Biscayne, Margaret Pace Park, Marina Blue, Miami Real Estate, Midtown, One Miami, Quantum
29 Dec 07 Welcome to the BSBH Team’s BLOG
