February 22, 2017
Project 18 was approved by the Miami board on February 16. It’s located at 10 S.W. 8th Street. Project 18 is a 923,000-square-foot, 78-story, tower and will have 392 residential units, 66,618 square feet of retail, 464 parking spaces, pool decks on both the parking garage roof and in the sky on top of the tower. Amazingly, the Burger King that was there is now going to be a high-end tower.
January 31, 2017
Centro, a parking-less condo, leased 2,200 Sq Ft to a Palm Beach County-based sandwich chain and a global Italian gelato franchise for$75 per Sq Ft! These are marked as the highest retail rents in Downtown. The sandwich shop rented 1,200 Sq Ft and the gelato shop rented 1,000 Sq Ft on the ground floor of Centro. Newgard Development group purchased the 4,350 Sq-Ft ground floor located at 151 Southeast First Street in August 2016 for $615 per Sq Ft totaled to $2.65M. Centro unit prices range from $300,000 to $500,000. The developers began allowing owners to occupy condos in late July.
January 20, 2017
The penthouse in Jade Brickell located at 1331 Brickell Bay Drive is selling for $1,158 per Sq Ft.Harvey Hernandez, the developer who helped in the Centro project, is the seller. He is also selling his Tesla Model X with the PH. The total with the Tesla would be $7M. Mr. Hernandez bought the property for $4M in 2014.
January 18, 2017
Mars Ink, the candy company behind M&M’s, Skittles, and Pedigree dog food, is leasing 7,459 Sq Ft at the Brickell City Tower. The Brickell office building is located at 80 Southwest Eighth Street. The tower recently underwent $61M in renovations. It’s competing with Brickell City Centre and Mary Brickell Village. The average for Class A office rent is $50 per Sq Ft in Brickell.
January 11, 2017
The rise in attention for areas west of the financial district has investors buying land in areas like Calle Ocho, Hialeah, and Wynwood. A group of Venezuelan investors completed an assemblage worth $8.25M. It is located in Little Havana at 939, 955 and 965 Southwest Eighth Street and 922 Southwest Seventh Street. The investors have not concluded on what they will be building on the assemblage. Certainly, they won’t be flipping the property.
January 19, 2017
Brickell City Centre partners with Uber. For a limited time only the first 2 hours of parking are free. Uber has also unveiled designated pickup areas to improve passenger’s ride-sharing experience. Brickell City Centre is next to the Miami Metro mover. Brickell is becoming more aware of people’s demands for a more walk-friendly environment.
January 08, 2017
After a 24-hour pour of 50M pounds of concrete. The 64-story condo tower is now ready to be built. Brickell Flatiron is located at 1001 South Miami Avenue. It will bring 549-units to Brickell. The tower will have a rooftop spa, pool and gym, a theater, a billiard and cigar room, a wine cellar, parking valet and a 24-hour concierge. Unit prices range from $465,000 to $2.5M. Penthouse prices go up to $15.5M.
January 04, 2017
1500 Brickell Avenue will soon be occupied by an Italian restaurant called Bianconi. Mast Capital bought the property in 2013 for $2.575M. The group wants to bring a high-end restaurant to the urban core of Miami. It’s expected to open in 2017’s fourth quarter.The Brickell has had many restaurants open recently. High-end places like Quinto la Huella and Coya. There are more to come this year as Brickell City Centre and other developments come to fruition.
May 10, 2016
Billions of dollars are being invested into residential and commercial developments in Miami. Developers are looking toward making rent cheaper. Mr.Pearl is creating multi-family homes for rent ranges of $1,000 to $2,000. People with salaries of $60,000 to $70,000 would be able to rent property in Miami’s urban core. Miami’s becoming more like a city. This has prompted investors like Michael A. Comras and Mr. Motwani to bring millions of dollars to develop the future city. Miami World Center is introducing a 500-unit condo tower and 1,200 rental apartments for moderate income professionals and families. The World Center is also attributing to a pedestrian friendly city. People will be able to walk to nearby parks, restaurants, malls, and museums.
September 09, 2016
The Underline is a 10-mile long linear park under the Metrorail. It extends from Brickell to Dadeland. The project cost $120M. Miami’s commissioners commissioned $50M to the project (biggest donation). Swire properties commissioned $600,000.