One Thousand Museum has hit so many milestones since its inception in 2014. Just in the first month of sales in 2016, the luxury tower reached $30 million sold which remember 2022 tower sales launches. Now, One Thousand Museum has officially sold, solidifying the legacy of the late Pritzker-winning architect Zaha Hadid.
One Thousand Museum, also known as the Scorpion Tower, is a monument to brilliance and creativity, Through the views and design of Dame Zaha Hadid, it is a powerful physical statement about the soul of Miami.
With views of Biscayne Bay, the Atlantic Ocean, and Miami Skyline; One Thousand Museum is only minutes from South Beach and the Brickell financial district. This contemporary tower rises 60 stories with 83 total units; 4 duplex townhouses, 70 half-floor units, 8 full floor penthouses and 1 double story/full floor penthouse.
Two lower level floors are dedicated to an indoor/outdoor wellness and spa, as well as the rooftop featuring the Aquatics Center and Sky Lounge.
Developed by Louis Birdman, Gregg Covin, Kevin Venger, and Regalia Group, One Thousand Museum is South Florida’s first residential complex with its own rooftop helipad, allowing residents to quickly travel to adjacent islands, private and commercial airports, and private boats.
One Thousand Museum Amenities
A spacious fitness center with state-of-the-art strength and cardio training equipment
Spa with private treatment rooms, steam and sauna rooms, plunge pools, and relaxation lounge
Multimedia theater for private movie screenings, lectures, and presentations
Sun & Swim Terrace with pools, lounge chairs, cabanas, and poolside towel service
Aquatic Center with indoor, infinity-edge pool
Private dining room
Triple-height event space overlooking Biscayne Bay
Private rooftop helipad
Specialized security and valet personnel
Full-service concierge
Bank-quality vault with individual safe deposit box for every residence
One Thousand Museum Residence Features
Custom Italian cabinetry by Poliform
Fine quartz countertops by Silestone
Induction cooktop, oven, steam oven, microwave, dishwasher, and integrated coffee maker by Gaggenau
Refrigerator by Sub-Zero
Faucets and fixtures by Dornbracht, Duravit, and MTI
Interior doors by Lualdi Porte with door handles designed by Zaha Hadid
Custom-designed, Italian-made walk-in closets
Extensive state-of-the-art home automation by Crestron, allowing residents to control a range of in-residence applications including lighting, heating, air conditioning, audio, video, window treatments, and security
Oversized terraces
East-to-west flow-through floor plans
Demand for condominiums in Miami has increased within the past year. Residential home shortages, as well as an increase in relocations, are driving factors for this demand. According to Business Insider; bankers, fund managers, and executives are now moving to Miami from New York at an alarming rate. Luxury home sales tripled in December 2020 compared to the previous year and the future for this market looks even better!
$30M+ Sold at One Thousand Museum During Art Basel Week; $90M Inventory Loan Paid Off
With buyers from all over the globe and the attendance for Art Basel reaching over 60,000, it is of no surprise that sales for One Thousand Museum would increase.
According to the co-developer of One Thousand Museum, Kevin Venger, “As a testament of the recent success leading to the loan payoff, during Art Week alone, our sales team inked two large sales totaling more than $30 million.”
Another major milestone was the $90 million inventory loan that was secured in March 2021. According to the developers, that loan is officially paid off. Louis Birdman, another co-developer states, “Satisfying our $90M loan in eight months comes during a buying frenzy and Miami’s high season, which we expect to take One Thousand Museum to sellout quickly.”
The late Pritzker-winning architect Zaha Hadid built One Thousand Museum, which was developed by Louis Birdman, Gregg Covin, Kevin Venger, and Regalia Group.
One Thousand Museum is South Florida’s first residential complex with its own rooftop helipad, allowing residents to quickly travel to adjacent islands, private and commercial airports, and private boats.
One Thousand Museum Amenities
A spacious fitness center with state-of-the-art strength and cardio training equipment
Spa with private treatment rooms, steam and sauna rooms, plunge pools, and relaxation lounge
Multimedia theater for private movie screenings, lectures, and presentations
Sun & Swim Terrace with pools, lounge chairs, cabanas, and poolside towel service
Aquatic Center with indoor, infinity-edge pool
Private dining room
Triple-height event space overlooking Biscayne Bay
Private rooftop helipad
Specialized security and valet personnel
Full-service concierge
Bank-quality vault with individual safe deposit box for every residence
One Thousand Museum Residence Features
Custom Italian cabinetry by Poliform
Fine quartz countertops by Silestone
Induction cooktop, oven, steam oven, microwave, dishwasher, and integrated coffee maker by Gaggenau
Refrigerator by Sub-Zero
Faucets and fixtures by Dornbracht, Duravit, and MTI
Interior doors by Lualdi Porte with door handles designed by Zaha Hadid
Custom-designed, Italian-made walk-in closets
Extensive state-of-the-art home automation by Crestron, allowing residents to control a range of in-residence applications including lighting, heating, air conditioning, audio, video, window treatments, and security
Oversized terraces
East-to-west flow-through floor plans
These one-of-a-kind and magnificent condos range in price from $4.95 million to $20 million, and due to the demand of the luxury condo market, availability is restricted.
There are currently 3 furnished developer models left. If you or someone you know have an interest in purchasing one of the One Thousand Museum Residences, please contact Lucas Lechuga via email at lucas@miamicondoinvestments.com or by phone at 786-247-6332.
Developer Todd Micheal Glaser buys Indian Creek Waterfront Mansion for $24 Million
Photo Credit: Douglas Elliman
Developer, Todd Michael Glaser is a Miami native and a well-known developer who has made a name for himself with projects like 1000 Museum. Most recently, Glaser and his partners purchased an Indian Creek mansion for $23.8 million. The property was originally listed in October 2020 for $20 million and taken off the market in March 2021.
The Indian Creek waterfront mansion is located at 37 Indian Creek Road featuring 7,236 square feet of living space set on 1.2 acres. This 3 bedroom, 4 bathroom estate boasts an expansive brick driveway leading to a Mediterranean-style home. The large pool overlooks Biscayne Bay with a 20-foot boat dock.
Photo Credit: Douglas Elliman
The seller of the home was Don Francisco, host of ‘Sábado Gigante’ a Spanish language variety show that showcased musicians and comedians. He hosted the show for 53 years ending in 2015 and returned to TV with a new show “Don Francisco Te Invita.” Francisco originally purchased the property in 1993 for $2.6 million and has made several updates throughout the years.
Photo Credit: Douglas Elliman
Glaser and his partners plan on demolishing the home to build a mansion double the size and double the value. With the help of architect Kobi Karp, this new estate will be one of a kind. It will feature 2 pools and with plans on being listed around $50 million. The anticipated completion for construction is set for December 2021.
Indian Creek Island is a gated island north of Miami Beach. It has its own police force that patrols 24 hours a day. Billionaires are known to call this place home because of the security and exclusiveness it offers.
Notables like Ivanka Trump and Jared Kushner as well as Hotels.com co-founder Bob Diener own properties on the island. Last year alone, Tom Brady and his wife, Gisele Bundchen purchased a lot for $17 million, where they plan on building a new estate.
There is only one property currently on the market on Indian Creek Island. The property located at 29 Indian Creek Drive is listed for rent at $100,000 monthly and features 4 bedrooms, 4.5 bathrooms with gorgeous southern exposure of Biscayne Bay. For more information on this property or about Indian Creek Island, please contact Lucas Lechuga via email at lucas@miamicondoinvestments.com or by phone at (786)247-6332.
One Thousand Museum Secures Loan 3 Weeks after Foreclosure Announcement
The future is looking bright for the developers of One Thousand Museum Residences. Just three weeks ago, the Reuban Brothers filed a foreclosure lawsuit against the developers for $82.7 million with interest. As of March 3, 2021, which is the date of the filing, 15 developer units were still available in the tower.
Within three weeks of the foreclosure announcement; Louis Birdman, Gilberto Bomeny, Kevin Venger and partners Gregg Covin and Todd Glaser, have secured and closed on a $90 million condo inventory loan from Cirrus Real Estate Partners. This new loan closed on Monday and will pay off the loan balance that was originally provided by Fortress Investment Group in 2016. It will also give the developers time to sell the additional units.
The mortgage broker for this transaction was Jim Fried, President of Sandstone Realty Advisers. A former Fortress executive, who is now the Managing partner at Cirrus Real Estate Partners, Tony Tufariello, expects the developers to sell the units with the next couple of years. Tufariello stated that they were “attracted to the buildings larger floor plans and amenities, and encouraged by the recent uptick in sales.”
The developers stated that they were planning to pay off the original construction loan but it was “pushed due to travel restrictions that hindered lenders from walking the final project.”
This luxury tower features a private rooftop helipad, valet services, and well spa. One-Thousand Museum is also home to David and Victoria Beckham.
Building Amenities:
Double height aquatic center with indoor pool
The Sky Lounge provides a dramatic venue for private events for residents
Private rooftop helipad. The helipad will make nearby islands, private and commercial airports, and private yachts easily accessible
Multiple recreation areas for swimming, sunning, socializing, and fitness
24/7 specialized security and valet personnel, other on-site staff including concierge, professional management, and other specialized personnel
Custom scenting by 12.29 in all interior amenity spaces including the lobby, wellness & spa level, aquatic center, and sky lounge (can be available in residences upon request)
Bank-quality vault with individual safe deposit box for every residence, offering residents the convenience and security of storing their valuables onsite
Residence Features:
Private residences are accessed from the lobby via secure, high-speed elevators that feature destination-entry smart technology
East-to-west flow-through floor plans that capture the mesmerizing panorama of Biscayne Bay and Atlantic Ocean views as well as the Miami skyline
Oversized terraces
Custom Italian kitchens with quartz countertops
Induction cook tops, in wall ovens, steam ovens, microwaves, dishwashers and integrated coffee makers by Gaggenau
Refrigerators by Sub-Zero
Faucets by Dornbracht and other quality manufactures
Custom-designed Italian made walk-in closets
Interior doors throughout the residences are by Lualdi Porte. All doors have been customized with Valli & Valli’s Duemila Cinque series handles designed by Zaha Hadid
European Interior Illumination products by Apure Architectural Lighting and other premium manufacturers customized by German designer, Uli Petzold.
State-of-the-art home automation infrastructure by Crestron
These unique and luxurious units range from $4.95 million to $20 million and with the popularity of the luxury condo market, the inventory has become limited. If you or someone you know have an interest in purchasing one of the One Thousand Museum Residences, please contact Lucas Lechuga via email at lucas@miamicondoinvestments.com or by phone at 786-247-6332.
One Thousand Museum Tower Faces Foreclosure Due to Unpaid Loan
According to FinTech Zoom, the court filings include the Motoconb Estates, LTD., agent for David and Simon Reuben (Reuben Brothers), are seeking to overtake the remaining 15 units from the tower.
The Principal investor is Gilberto Bomeny and the co-developer is Louis Birdman. Caught by surprise, Birdman recently stated, “This action by our current lender was completely unexpected, as they are well aware that our sales team had a record-breaking year of sales, and that we are preparing to pay off the construction loan this month. We remain focused on the successful sellout of our limited number of remaining residences at One Thousand Museum during the course of this year.”
FinTech Zoom also reported that the Reuben Brothers are among some of Britain’s wealthiest families but are not well known in South Florida. This year alone, they purchased Kyu restaurant in Wynwood and a few additional properties in South Florida. They also acquired the One Thousand Museum loans in February 2021.
According to Birdman, “We are in the process of raising prices. The building is performing better than ever.” In the past year, over $100 million in units have sold as well as $35 million in quarter 1 of 2021.
Notables that currently reside at One-Thousand Museum include David and Victoria Beckham and French national team soccer player Paul Pogba.
Daughter of Auto Dealership Magnate Scores Killer Deal at One Thousand Museum
Fierce negotiating skills must run in the family. In recent months, Andi Potamkin, daughter of South Florida auto dealership magnate Alan Potamkin, scored an astonishing deal at One Thousand Museum. According to public records, this past June, she purchased from the developer a half-floor residence for $3,375,000, or $734 per square foot. To put that deal into perspective, the developer of One Thousand Museum had presold (before the building was completed) unit 2501, one floor immediately below Potamkin’s residence, for $6,265,000, or $1,362 per square foot.
Wowsers! It doesn’t get better than that. In fact, not only does Miss Potamkin’s purchase represent a 46 percent discount from the condo sold just one floor below, but it also marks the lowest that a condo at One Thousand Museum has sold to date on price AND price per square foot bases. On the other end of the spectrum, earlier this year, David and Victoria Beckham purchased a full-floor penthouse (exactly twice the size and over twice as high up as Miss Potamkin’s residence) for $19,800,000, or $2,152 per square foot.
In other One Thousand Museum news, celebrity restaurateur and nightclub owner David Grutman recently moved into the building, albeit temporarily. Grutman plans to live at One Thousand Museum until his new home on North Bay Road is completed. Grutman recently acquired the property located at 2050 North Bay Road from Spanish musician Alejandro Sanz but plans to demolish the house currently residing there. Grutman then plans to build a two-story house with 14,000 square feet and landscaping by award-winning landscape architect Raymond Jungles.
The Good, the Bad, and the Ugly: Closing Percentages for Brickell Flatiron, Paramount Miami Worldcenter, and One Thousand Museum
The Reboot
Back in November 2007, I started a series of blog posts called “New Construction Closing Rates” where I shared with my readers the closing percentages of the vast number of condo developments that were being delivered at the time. It became a very popular series with my readers mainly due to the transparency it offered to the public. As some may expect, in times of market trepidation, condo developers tend to safeguard their sales and closing figures.
Well, at the beginning of this year, mainly out of my own curiosity, I began tracking the closings of three of the newest condo developments in Greater Downtown Miami: Brickell Flatiron, Paramount Miami Worldcenter, and One Thousand Museum. As this post is named “The Good, the Bad, and the Ugly”, I’ll begin first with Brickell Flatiron, the condo development that has fared the best of the three condo developments.
Of the three condo developments, Brickell Flatiron was the most recent to begin closings. Its first closing took place on November 1, 2019, while closings for Paramount Miami Worldcenter and One Thousand Museum began on August 13, 2019 and July 15, 2019, respectively.
Since November 1, 2019, according to public records, the developer of Brickell Flatiron has successfully closed 433 of 527 total units (an 82.2 percent closing percentage) as of this writing. The most recent closing that appears in public records took place on March 6, 2020. It’s important to note that there can be a lag of two to three weeks between the time a property closes and when it appears in public records. As of late, the developer of Brickell Flatiron has averaged around 6 closed units per week. In the month of February, the developer closed a total of 25 units. At this pace, the developer of Brickell Flatiron should hit the 90 percent closed mark by the end of next month. And even if closings were to significantly slow due to the nightmarish economic conditions posed by the Coronavirus, the developer would be in a solid position to ride it out given that the construction loan for Brickell Flatiron was paid off three months ago.
As mentioned above, Paramount Miami Worldcenter closings began on August 13, 2019. Since then, the developer has closed 336 of 569 total units (a 59.1 percent closing percentage) as of this writing.
This past week, the Paramount Miami Worldcenter sales team sent out a marketing email stating that it had $7 million in sales in the month of February. Well, according to public records, the developer of Paramount Miami Worldcenter closed seven (7) units in the month of February totaling $6,964,000 (close enough in my book). Kudos to the sales team! The most recent recorded closing took place on February 24, 2020. The bad news, of course, is that at a pace of 7 units per month, the last of the developer inventory won’t be sold until the end of 2022.
Of the three condo developments, One Thousand Museum began closings the longest ago. Closings began on July 15, 2019. Since then, the developer, as of this writing, has closed 45 of 84 total units (a 53.6 percent closing percentage). While that may not be too surprising given the price point of the development compared to the neighborhood average (~$1,200 per square foot vs. ~$425 per square foot), what I do find worrisome is that One Thousand Museum hasn’t had a single closed sale year-to-date, according to public records. The most recent recorded closed sale was on December 27, 2019. At a pace of one closed unit per every three months, the developers won’t close out the remaining inventory until the start of 2030!
What I find puzzling is that on February 18, 2020, the One Thousand Museum Instagram account shared news of having four sales in four weeks. Sounds great, right? Definitely! But not a single one of those four sales has been recorded. So what happened to the four sales? Given that there’s only a two to three week lag between when a unit closes and when it appears in a public records, all four of those sales should have shown up by now. As mentioned earlier, the closings that took place on March 6th and February 24th at Brickell Flatiron and Paramount Miami Worldcenter, respectively, already show up in public records.
In numerical order, here are the 45 units at One Thousand Museum that have closed and been recorded as of March 19, 2020. Those 45 units are comprised of 1 duplex townhouse, 40 half-floor residences, and 4 full-floor penthouses. That means that the remaining developer inventory at One Thousand Museum is comprised of 3 duplex townhouses, 30 half-floor residences, and 6 full-floor penthouses.
One Thousand Museum Becomes the First Residential Development in the World to Partner with Forbes Travel Guide
One Thousand Museum has once again raised the bar when it comes to exceeding the expectations of today’s affluent and service-oriented condo buyers. This week, One Thousand Museum announced its partnership with Forbes Travel Guide, making it the first residential development in the world to partner with them. Forbes Travel Guide, known for creating the five-star rating system for luxury hotels, restaurants, and spas, has long been the global authority on luxury service. With this exclusive partnership, One Thousand Museum puts itself on the map as becoming the only condominium development to deliver an unrivaled, hospitality-focused residential experience for residents and their guests on par with that of the finest hotels in the world.
Along with delivering a comprehensive training program for One Thousand Museum’s on-site staff, Forbes Travel Guide will develop customized brand standards. Executive trainers from Forbes Travel Guide will collaborate with One Thousand Museum’s management team to ensure that world-class training is delivered to each staff member. Its intensive training program will enhance service skills and inspire One Thousand Museum staff to elevate the lifestyle experience for residents and their guests.
“We are proud to partner with One Thousand Museum Residences,” said Gerard J. Inzerillo, CEO of Forbes Travel Guide. “As the first residential condominium in the world to collaborate with Forbes Travel Guide, One Thousand Museum is leading the charge in its market in focusing on the guest experience. The company is investing in delivering superior service, which will better its residents’ quality of life.”
“We are raising the bar for what owners can expect from a residential experience,” says Louis Birdman, co-developer of One Thousand Museum. “We want a true five-star experience for our buyers, something that not only meets but also goes beyond what they experience in their most elevated travel experiences. Forging the alignment with Forbes Travel Guide –the world’s most well-respected rating system—presented the solution to make that a reality.”
1000 Museum Drone Footage from Helipad (Video)
The developer of One Thousand Museum has released a series of drone videos, each taken from the building’s rooftop helipad. The videos tease the jaw-dropping views future residents of 1000 Museum will enjoy as their chopper arrives and departs from the 62-story tower.
Once completed, One Thousand Museum will boast the ONLY residential helipad on the East Coast. The ultra-luxury development will include an on-site travel concierge service from which residents will be able to reserve the helipad and book transport to and from a number of destinations such as the Miami International Airport, nearby Islands, and more. Good riddance to Miami traffic!
One Thousand Museum was designed by legendary architect Zaha Hadid, whose untimely death two years ago caught us all by surprise. With an architectural marvel like 1000 Museum gracing our Miami skyline, the heavens will be left wondering if the “H” atop the building was left to denote “helipad” or Hadid’s last mark on our city.
The Views from Atop the One Thousand Museum Helipad
For those who missed it on our Social Media Feed a few weeks ago, the Miami Condo Investments team was given a VIP tour of the recently finished helipad at One Thousand Museum. Once completed, One Thousand Museum will be the first residential tower in Miami to ever include a helipad. As you could imagine, at a height of 709 feet, the views from atop One Thousand Museum are phenomenal; too good not to share, so here you go:
